Are we back in a bull market?

[ironstove]

Despite the bad news from China, it seems that this rally has broken beyond the point of considering it a dead cat bounce. The next few days will tell the tale.

My belief is that the announcements made by China will be followed up soon with enforced regulations causing further panic.

At this point, my balance is mostly fiat so I'm obviously biased in favor of believing that another dip is coming in the near future however I would like to hear other people's thoughts on this as well and where you believe the source of this rally is coming from you don't believe it to be temporary. The good news from the US outweighing the bad in China? People who panic sold buying back in?

[TERA]

Your suffering from a form of 'vertigo' where the price rises unexpectly fast/high giving you dizziness and delusional thoughts. I feel it too on every bull trap but have learned to just walk away and lie down or something instead of buy buy buy.

[HairyMaclairy]

More to come.  Market is very fragile. 

[mufa23]

We are back, and recovered from china. We don't need them, and have moved on. We have resumed the steady climb.

[Oldminer]

Your suffering from a form of 'vertigo' where the price rises unexpectly fast/high giving you dizziness and delusional thoughts. I feel it too on every bull trap but have learned to just walk away and lie down or something instead of buy buy buy.

lol bears will still be about the place even when we hit $1500...

[Melbustus]

We've been in a bull market since 2009. Periods shorter than several years are not relevant.

[kwest]

We could be, seeing as we hit a low of about 1.5x the previous ATH.. and we've never gone below the previous ATH before in any crash, I don't see why we would now.. meaning the bottom may already have been hit.

Edit: I want to make it clear though.. I'm already bought in full at this price, and I have orders placed all the way from $486 to $260. If we go up, I'm not buying more.

[Oldminer]

I think some people were expecting a massive crash then a frenzied buying spree at cheap prices and jump back to $700 or so. Many it seems are still waiting. Problem is, it may never come. Not all surges upward are in leaps & bounds.  Sometimes there done by stealth to catch waiting buyers out. Before you know it, its too late to buy back in. Course, I could be wrong, but this is how its panned out since we hit about $580 and were back to $775 - thats a fair increase & some nice profits have been missed out on along the way.

[TERA]

According to some posters on this forum, every upward movement that btc makes is always a trap.

Well if you're looking to get the most coins possible and a certain movement leads you to belive it is time to buy, but then later there is a chance to easily buy twice as many coins with the same money, then the movement was a trap from the trader's perspective. He now has half of the potential that he could have had.

[outofservice]

I think some people were expecting a massive crash then a frenzied buying spree at cheap prices and jump back to $700 or so. Many it seems are still waiting. Problem is, it may never come. Not all surges upward are in leaps & bounds.  Sometimes there done by stealth to catch waiting buyers out. Before you know it, its too late to buy back in. Course, I could be wrong, but this is how its panned out since we hit about $580 and were back to $775 - thats a fair increase & some nice profits have been missed out on.

This post does not feel like any other post I've read on this forum.
I read this and get the feeling that you are privy to what is going on and telling us what is happening without telling us what is happening.

[Oldminer]

This post does not feel like any other post I've read on this forum.
I read this and get the feeling that you are privy to what is going on and telling us what is happening without telling us what is happening.

No, as I said, I could be wrong, its simply my observation. Who's to say there aren't whales slowly buying up to avoid steep price rises?

[pbody]

More to come.  Market is very fragile. 

I'm with this. People are still dizzy from the plus 1k mark and are buying up at these lower prices. News can drive it further in either direction.                                          

[U1TRA_L0RD]

So, how does all this sound to me...well,let me put it this way, When the Silk Road drug Marketplace was taken donw, Bitcoin prices fell, and after a couple of hours went back to a stable price, so whenever so this happens again, there shoul dbe no fear as prices will jump back up again.

[geoffreyqp]

if the price wasn't still following btcchina so much, i would feel more bullish. but right now, if more bad news comes out of china, (like btcchina shutting down) then i can see further falling prices.

overall, i'm probably slightly bullish right now.

[Oldminer]

So, how does all this sound to me...well,let me put it this way, When the Silk Road drug Marketplace was taken donw, Bitcoin prices fell, and after a couple of hours went back to a stable price, so whenever so this happens again, there shoul dbe no fear as prices will jump back up again.

Bitcoin is much quicker to recover than it used to be.

[deepceleron]

I think some people were expecting a massive crash then a frenzied buying spree at cheap prices and jump back to $700 or so. Many it seems are still waiting. Problem is, it may never come.

It's here:

[U1TRA_L0RD]

You see, I guess everyone should be optimistic by now.

[Edward50]

I think its honestly going back up to $1000. The china news was priced in already and how could it be any worse. People still have $1000 dollars on their minds so anything under that is cheap.

[T.Stuart]

I think its honestly going back up to $1000. The china news was priced in already and how could it be any worse. People still have $1000 dollars on their minds so anything under that is cheap.

Yesterday you said all the signs were pointing to another crash, and when the Chinese wake up they will start dumping more coins "en masse".
I suppose things do move quickly in Bitcoin! 

[zby]

A dead cat bounce of about 80% is normal - so it is too early to decide.