$713, stamp is batshit insane. Bull trap or bear trap?

[Cryddit]

Bought @ 630 (didn't have access to Gox prices, as usual).   

I see this as probably having been the best buying opportunity in recent months. 

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[smoothie]

I think we will go back to $500 range in the next 4-6 weeks. Even if for just a day or two...it is coming.

[chesthing]

Might be tonight, $700 was very brief. Seven day chart sure looks like a continuing bear trend - I'm probably wrong though, as usual.

[ManInIron]

http://i57.tinypic.com/2nvfax3.jpg

[billyjoeallen]

The current trend will probably continue this cycle... slow downfall - fast drop - sudden spike up - another slow downfall..
I think that's because the biggest investors are moving out. If you were holding 10 000+ BTC, then this method would be the most profitable way to get out with relatively good profit.
I predict that this will continue until 200-300$ when it will settle with couple of months of stability. There won't be another stable boom without opening new markets with decent volumes. I think that bitcoin has 1-2 bubbles still left in it before it dies. Another step is probably south-America, but it takes some time to market bitcoin to the people there. News articles have to be bought, officials have to be bribed, amazing success stories have to be told...

dream on. The most prophitable way out for whales would be just selling slower than the new entrants rate. And just that would need no PR and it would keep price rising. Now any insider has a reason to not rock the boat -unless he's an insider of something much bigger.

+1. I'm not a whale, but a good-sized fish and that's the only way you'll get my coins.

[theonewhowaskazu]

Sorry if Im being dense but whats a tarp

[conspirosphere.tk]

Sorry if Im being dense but whats a tarp

=trap. we're all getting slightly dyslexic.

[Holliday]

Sorry if Im being dense but whats a tarp

[BitcoinBobbeh]

Sorry if Im being dense but whats a tarp

HODL
SODL
SHOTR
TARP
etc

[theonewhowaskazu]

Sorry if Im being dense but whats a tarp

=trap. we're all getting slightly dyslexic.

Oh, I was thinking bailout, lol.

[kkaspar]

The current trend will probably continue this cycle... slow downfall - fast drop - sudden spike up - another slow downfall..
I think that's because the biggest investors are moving out. If you were holding 10 000+ BTC, then this method would be the most profitable way to get out with relatively good profit.
I predict that this will continue until 200-300$ when it will settle with couple of months of stability. There won't be another stable boom without opening new markets with decent volumes. I think that bitcoin has 1-2 bubbles still left in it before it dies. Another step is probably south-America, but it takes some time to market bitcoin to the people there. News articles have to be bought, officials have to be bribed, amazing success stories have to be told...

dream on. The most prophitable way out for whales would be just selling slower than the new entrants rate. And just that would need no PR and it would keep price rising. Now any insider has a reason to not rock the boat -unless he's an insider of something much bigger.

This would only work if bitcoin demand would be steady at least. But demand is dropping, so there is no time to mess around. It's simple for small investors, just sell and you are out. Not so easy to move out when you are a big investor.
There are two types of whales, those who dream big things for bitcoin and those who have invested money just to get some kicks out of taking risks. These other types don't know much about bitcoin and they don't care, they just saw the growing demand in China and made their decision based on that.
Now, it's certain that the chinese market is dead and there are no new markets with decent volume to show any signs of rising demand. That is why those want out who don't care much about bitcoin in general.

News like overstock accepting bitcoin are just news based on hot air, when you consider the future value of bitcoin. Only thing that gives certain value to bitcoin is rising demand. The EU/US markets have been saturated and not much more potential can be made. Most already know about bitcoin and have decided if they want in or not.
Only place left to market bitcoin where to expect demand is south- and central America. And I agree that this region is very potential for bitcoin since lawlessness and corruption actually suits bitcoin very well. The thing that is worrying tho is that you can't see any steps that are taken to enter this market. I think the same thing is worrying those passive investors who now want out. Without taking S/C-America, bitcoin will just slowly die because there is very little potential left in EU or US.

[gentlemand]

The US and EU is saturated? Gosh.

[Holliday]

The US and EU is saturated? Gosh.

LOL. I was shocked to learn this as well.

[pungopete468]

The US and EU is saturated? Gosh.

lol

It hasn't even really begun here.

CoinBase buy interest is huge... The price spread is so high considering historical figures...

[kkaspar]

The US and EU is saturated? Gosh.

Yes they are saturated. You could see that after the 2013 April crash, when the price started to gain momentum only after bitcoin was covered on a popular Chinese news program.
People decide their attitude towards bitcoin really quick and that attitude tends to be radical, either they see future of liberty or they see a malignant pyramid scheme. You will rarely meet people who thought one at first and changed their mind later.
So the main factor is where bitcoin is known. In EU/USA bitcoin has been cover by the media so much, that there are very little people who actually haven't heard about bitcoin. There is not much potential left because you won't convert those people pro-bitcoin who don't want to have anything to do with bitcoin. Only way forward is to take on markets where bitcoin is less known.
What most of the bitcoin cult followers fail to understand that bitcoin will never be a serious financial tool. It will never be a widely used currency because it lacks the main thing that makes a quality currency: PRICE STABILITY. And increased market cap. won't bring this stability either, because it will only attract players with deeper pockets and better knowledge on how to manipulate an unregulated market. And because of this, bitcoin price will never be stable.
It's better to take bitcoin as it is, an innovative gambling platform. Only way for it to grow is by finding new people who are willing to gamble.

[gentlemand]

I'm sure general enthusiasm will fall into a slumber for a while. In the meantime there'll be ever more exciting developments ready to put the next wave on a more solid footing.

At best Bitcoin has been a fleeting news item that the majority probably half listened to before going back to chewing their dinner. There's still just a teensy bit more potential in first world places.

My bold prediction is that within five years at least 0.1% more people will be interested in Bitcoin than they are now.

[kkaspar]

I'm sure general enthusiasm will fall into a slumber for a while. In the meantime there'll be ever more exciting developments ready to put the next wave on a more solid footing.

At best Bitcoin has been a fleeting news item that the majority probably half listened to before going back to chewing their dinner. There's still just a teensy bit more potential in first world places.

My bold prediction is that within five years at least 0.1% more people will be interested in Bitcoin than they are now.

I keep my interest in bitcoin and the crypto market pretty much a secret, since I know that people see me as an victim of an pyramid scheme or just cultist. To only a few open minded ones, I can explain that I know that the bitcoin market system is basicly a pyramid scheme but the entire idea does have potential. That bitcoin is basicly a get-rich-quick pyramid scheme but there is a future in decentralized privatized monetary systems that are built on the development of information technology.
My prediction goes that bitcoin life-cycle has 1-2 bubbles left in it. Thats about 1-2 years before it just slowly dies. Currently bitcoin has still this halo around it that it actually is the answer against global banking. That halo is the main thing that attracted new investors. When people realize that bitcoin is not the answer, but only was a small step in finding an answer, then everyone will lose interest.
As I have said before, I hope that there will be a crypto that tackles all bitcoins faults that make it impossible for it to become a serious financial tool. The best ending would be that the end of bitcoin isn't the end of crypto, but that value just flows from one crypto to an more advanced one.

[EuroTrash]

Hmmm

Most posts in the Speculation forum are bearish by now.

Hmmm

I've seen that before

Hmmm

[MatTheCat]

Currently bitcoin has still this halo around it that it actually is the answer against global banking. That halo is the main thing that attracted new investors. When people realize that bitcoin is not the answer, but only was a small step in finding an answer, then everyone will lose interest.

Very interesting take on Bitcoin in both posts.

For me, Bitcoin lost its 'Fight The Man' halo just as I began to learn precisely how cornered, manipulated, and generally crooked and open to shark attacks the Bitcoin market is. The only real world economic businesses (i.e. not speculators) that would ever be likely to tolerate transacting in a currency so volatile and so uncertain would be Black/Grey markets where more conventional methods of payment are not such a viable alternative. Unfortunately since the capture of the legend Ross Ulbricht (he was/is a legend imo), I am beginning to doubt whether a large scale black market face will ever operate again without the operators being overcome with the temptation to simply rob everyone blind and fuck off with a big sack of coin.

I also believe that Bitcoin will one day give way to a better designed more functional solution (probably controlled by The Man), but that there is plenty possibility for future growth yet.

[TERA]

bat trap