No rally?

[wobber]

I was thrilled by the start of the rally the other week. Many people were also, "rally" was the most prominent word out here. But where is it? It was just a spike on our way to a new Low?

[Minsc]

It will stagnate here at a good cheap place to buy coins before going up to 5.50 and stagnating there for a week more.

[RyNinDaCleM]

It will stagnate here at a good cheap place to buy coins before going up to 5.50 and stagnating there for a week more.

Quite the speculator these days! lol

Good to hear you're feeling more confident in your market watching abilities!

[Elwar]

I have not seen the big money person throwing the price up and down. That was usually when people would jump in or out with a lot of trades.

[Minsc]

I wish we could get The Manipulator to join these forums using that as his handle and make posts all the time, provided it's not a faker.

[RyNinDaCleM]

Haha!
The Manipulator:"I'm going to move the market $.28 in about 10mins!"
Me: Sweet! I'm hopin' on!

[Minsc]

Haha!
The Manipulator:"I'm going to move the market $.28 in about 10mins!"
Me: Sweet! I'm hopin' on!

I've thought of that before, and basically he'd need a twitter account for it.

[Technomage]

There was a rally. We still haven't recovered from the negative sentiment and the general bad mood in the market. Also the peak hype hasn't completely recovered yet and the number of transactions in the economy hasn't either. This is why we're back down.

We are close to recovering though based on any indicator out there and the last rally was a good sign. But we need more good signs before we can actually talk about an uptrend. It will be a long and very bumpy road before we see a price significantly higher than the current one.

There's still nothing to be thrilled about regarding the short term or mid-term of Bitcoin, but I feel the long term is still very solid so I'm feeling positive overall.

[Minsc]

Technomage,

I said it before.  It's at a great low to buy but it will stagnate here for a very long time before it finally goes up to 5.50ish and stagnates there.

Once it rose to 5.10, The Manipulator sold 10,000 coins to force it back down.  Any real investor would've just waited for 5.50 or 6 knowing if it dips, it's still a low point they bought at so no worries.

[payb.tc]

Technomage,

I said it before.  It's at a great low to buy but it will stagnate here for a very long time before it finally goes up to 5.50ish and stagnates there.

Once it rose to 5.10, The Manipulator sold 10,000 coins to force it back down.  Any real investor would've just waited for 5.50 or 6 knowing if it dips, it's still a low point they bought at so no worries.

the problem with the manipulator theory, is that if there are 2 such people who don't know each other and are in fact competing with each other, then they'll always try to 'pull the trigger' before the other one.

so selling 10,000 coins at 5.10 may have been in anticipation of someone else selling 10,000 coins at 5.11, destroying his opportunity to do so.

[Minsc]

Didn't rally

[Cluster2k]

I'm sure no one actually expected a rally after such a large drop.  A real rally, not the $2.26 -> $2.64 rally.  It's still a handy profit for the very few people who managed to catch it.

Right now bitcoin is a great day trading tool.  It's sadly not something I'd want to hold for more than a couple of days.  30% drop yesterday.  Yikes.

[old_engineer]

I'm sure no one actually expected a rally after such a large drop.  A real rally, not the $2.26 -> $2.64 rally.  It's still a handy profit for the very few people who managed to catch it.

Right now bitcoin is a great day trading tool.  It's sadly not something I'd want to hold for more than a couple of days.  30% drop yesterday.  Yikes.

I was one of the lucky ones - I had staggered orders from $2 to $3, which were mostly hit on the way down, and I sold in the $2.75 range to end up about 10% on the day.  Then it rallied back over $3, and I stopped playing - WTF were those guys thinking?  Now I have staggered orders in the $1.50-$2.25 range, and I'm hoping for more panic selling, and a subsequent rebound.

[grod]

I lucked out as well, was asleep when the big drops happened.  If I wasn't I'd have been tempted to get back on board possibly wiping out yesterday's gains.

The good news is deepbit hashing power is mostly unaffected.  There are LOTS of bulls out there.  So IMO this isn't capitulation, plenty of "buying opportunities" await.

[zby]

Rally is on Tuesdays.

[Melbustus]

Funny how the same conversations keep happening here in Spec, year after year, rally after rally, crash after crash.

This one is from almost exactly 3yrs ago, at almost exactly one-hundredth of the current price.

Don't any of you newbies read the old threads??

[minerpumpkin]

Funny how the same conversations keep happening here in Spec, year after year, rally after rally, crash after crash.

This one is from almost exactly 3yrs ago, at almost exactly one-hundredth of the current price.

Don't any of you newbies read the old threads??

Ha, nice find! I agree, but on the other hand: The growth can't continue forever! At some point we will have to reach at least some sort of saturation. And we don't really know when Bitcoin is overpriced and when it isn't! So we have to try and find out.

[Melbustus]

Funny how the same conversations keep happening here in Spec, year after year, rally after rally, crash after crash.

This one is from almost exactly 3yrs ago, at almost exactly one-hundredth of the current price.

Don't any of you newbies read the old threads??

Ha, nice find! I agree, but on the other hand: The growth can't continue forever! At some point we will have to reach at least some sort of saturation. And we don't really know when Bitcoin is overpriced and when it isn't! So we have to try and find out.

Of course not forever. But I think many of us have always assumed a binary outcome; ie, a couple orders of magnitude higher than current prices (putting market-cap in range of M2 of sizable but not huge countries; eg, Poland, Sweden, etc), or a couple below (ie, $0ish). The arguments for some long-run stable intermediate state are weaker than for either binary outcome. Given that all core infrastructure metrics continue to point up, one has to look at the discussions-of-the-day as a long-run status-quo of mostly-shortsighted individuals trying to interpret current events; typically failing to incorporate any meaningful perspective whatsoever (despite the fact that the entire history of discussion is sitting right in front of them). Such is the nature of most people, I suppose.

[wenben]

Funny how the same conversations keep happening here in Spec, year after year, rally after rally, crash after crash.

This one is from almost exactly 3yrs ago, at almost exactly one-hundredth of the current price.

Don't any of you newbies read the old threads??

Creepy the downtrend is also in September.

Summer effect?

[falllling]

Funny how the same conversations keep happening here in Spec, year after year, rally after rally, crash after crash.

This one is from almost exactly 3yrs ago, at almost exactly one-hundredth of the current price.

Don't any of you newbies read the old threads??

Creepy the downtrend is also in September.

Summer effect?

don't find any excuses, why bitcoin is dropping so hard?

goxed,no one with a college degree will invest any serious sums into bitcoin after MTGOX fiasco, The market is currently only a playground for gamblers and fanatics
51% pool (easy came easy gone easy return)
crackers and governments and shit having 1200k coins(mtgox 200k, Ross Ulbricht 140k, crackers: 850k)
no new money
governments warning and banning
many scam IPOs including Ethereum and others
everyone is selling / spending
Dell / Expedia / Newegg / House dealer / etc are selling in real time
Winklevoss ETF will actually be shot down
GABI is already priced in
Dubai exchange won't create any thing new
etc..