Was Today A Sign That The Bear Market Is Dead?

[windjc]

Today the media and bitcoin community circus of the potential finding of Satoshi Nakamoto occured.  Almost exactly a week after the collapse of the largest and most historically important bitcoin exchange went under in a smoke of fraud and corruption allegations.

Holy crap!

And throw in the fact that this news is occuring on a Thursday (Friday) in some places, the most bearish day of the week over the last year. Yet, the markets, for the most part have not moved today.

I started watching these markets fairly close (as in daily) in August of 2013. So not too long ago. But what has been obvious to me is that in a bull market bad news is neutral and good news moves the markets. In a bear market, good news is neutral and bad news moves the markets. Until today, I had not seen evidence of good news moving the market and/or bad news being neutral since bitcoin was at 1200.

But today, bad news happened and the markets remained neutral.  

This is a sign, in my opinion. An important point of data to be put with other points of data.

But if we start to go up on the next positive news cycle or remain neutral the next time bitcoin is bashed, then this may be indicator that the bear market is dead.

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[MatTheCat]

Today the media and bitcoin community circus of the potential finding of Satoshi Nakamoto occured.  Almost exactly a week after the collapse of the largest and most historically important bitcoin exchange went under in a smoke of fraud and corruption allegations.

Holy crap!

And throw in the fact that this news is occuring on a Thursday (Friday) in some places, the most bearish day of the week over the last year. Yet, the markets, for the most part have not moved today.

I started watching these markets fairly close (as in daily) in August of 2013. So not too long ago. But what has been obvious to me is that in a bull market bad news is neutral and good news moves the markets. In a bear market, good news is neutral and bad news moves the markets. Until today, I had not seen evidence of good news moving the market and/or bad news being neutral since bitcoin was at 1200.

But today, bad news happened and the markets remained neutral.  

This is a sign, in my opinion. An important point of data to be put with other points of data.

But if we start to go up on the next positive news cycle or remain neutral the next time bitcoin is bashed, then this may be indicator that the bear market is dead.

How was today bad news?

Someone created Bitcoin. A journalist thought she had found him. Alledgedly, in the presence of two police officers, he claims that he has nothing more to do with Bitcoin as other people have taken it onboard. Later on, he denies ever being involved. Was he, wasn't he, does it matter?

The End.

Bot traders on the exchanges grind slowly up and down, teasing moves in one direction in order to get speculators to jump in, before teasing the price in the opposite direction in order to squeeze them out.

Another same old day at the office as far as I can tell.

[MAbtc]

I still don't understand why this is perceived as bad news.

[bassclef]

I think it simply caused uncertainty until people figured it out.

[lemfuture]

this news dont matter..imo

[LostDutchman]

Don't mess with bears.

They have very large sharp teeth and claws.

My $.02.

:0

[windjc]

I still don't understand why this is perceived as bad news.

The theory goes that once the founder is known, if the founder can be personally discredited in anyway, the bitcoin can be discredited. Not too much unlike a political election, where people with an agenda spend hundreds of millions to discredit an opponent. Once you put a face on the opponent you can attempt to disrobe them and then control the dialogue.

I am neutral on this personally, but the theory and concern is pretty obvious.

[LostDutchman]

this news dont matter..imo

Exactly!

My $.02.

[windjc]

this news dont matter..imo

Look, the news could very much in fact matter. If the creator of bitcoin is perceived as a lunatic or crazy or deranged, it can be used against the idea and adoption of bitcoin.

And the point is, it does NOT ever matter what the truth is. It matters what is perceived as the truth.

Perception is reality. Read the threads about this. It has been uniformly bearish.

[MatTheCat]

I still don't understand why this is perceived as bad news.

Presumably because Bitcoin holders believed that Satoshi being discovered would leave him no alternative but to dump his entire 1300000 BTC on the market. Obviously. I mean, what would you do in his shoes?  

[windjc]

Today the media and bitcoin community circus of the potential finding of Satoshi Nakamoto occured.  Almost exactly a week after the collapse of the largest and most historically important bitcoin exchange went under in a smoke of fraud and corruption allegations.

Holy crap!

And throw in the fact that this news is occuring on a Thursday (Friday) in some places, the most bearish day of the week over the last year. Yet, the markets, for the most part have not moved today.

I started watching these markets fairly close (as in daily) in August of 2013. So not too long ago. But what has been obvious to me is that in a bull market bad news is neutral and good news moves the markets. In a bear market, good news is neutral and bad news moves the markets. Until today, I had not seen evidence of good news moving the market and/or bad news being neutral since bitcoin was at 1200.

But today, bad news happened and the markets remained neutral.  

This is a sign, in my opinion. An important point of data to be put with other points of data.

But if we start to go up on the next positive news cycle or remain neutral the next time bitcoin is bashed, then this may be indicator that the bear market is dead.

How was today bad news?

Someone created Bitcoin. A journalist thought she had found him. Alledgedly, in the presence of two police officers, he claims that he has nothing more to do with Bitcoin as other people have taken it onboard. Later on, he denies ever being involved. Was he, wasn't he, does it matter?

The End.

Bot traders on the exchanges grind slowly up and down, teasing moves in one direction in order to get speculators to jump in, before teasing the price in the opposite direction in order to squeeze them out.

Another same old day at the office as far as I can tell.

How was this bad? I don't know, perhaps if someone wanted to look at theories about this, they would go back and read all your posts from 6 hours ago till now. You were ranting and raving about how bearish this was. Did you go off your meds again?

[Chucky1976]

Almost every genius has been considered a lunatic but things still make a change

[windjc]

Lol @ the fact that instead of discussing the point of this thread, about how the markets reacted to the news, everyone wants to act like all of a sudden this wasn't perceived as negative news.

Yet 90% of all the posts about this and new threads about this have been theories as to why this is a bad thing. smh. You guys.

[MatTheCat]

How was this bad? I don't know, perhaps if someone wanted to look at theories about this, they would go back and read all your posts from 6 hours ago till now. You were ranting and raving about how bearish this was. Did you go off your meds again?

No I fkn wasn't, u slimey little fucking maggot.

I was (foolishly) getting involved in a discussion about how if Satoshi were to dump his Bitcoin, that Bitcoin would bounce right back. (it wouldn't, it would die on that very same day). All the energy I wasted in that particularly wasteful pursuit was 'hypothetical'.

Man, how come you are off ignore anyhow?

[windjc]

How was this bad? I don't know, perhaps if someone wanted to look at theories about this, they would go back and read all your posts from 6 hours ago till now. You were ranting and raving about how bearish this was. Did you go off your meds again?

No I fkn wasn't, u slimey little fucking maggot.

I was (foolishly) getting involved in a discussion about how if Satoshi were to dump his Bitcoin, that Bitcoin would bounce right back. (it wouldn't, it would die on that very same day). All the energy I wasted in that particularly wasteful pursuit was 'hypothetical'.

Man, how come you are off ignore anyhow?

Ha. I was thinking the same thing about you.

Corrected.

[MAbtc]

Lol @ the fact that instead of discussing the point of this thread, about how the markets reacted to the news, everyone wants to act like all of a sudden this wasn't perceived as negative news.

Yet 90% of all the posts about this and new threads about this have been theories as to why this is a bad thing. smh. You guys.

Yeah, I didn't really buy any of that shit, though. Hence my question. Looks like it ain't him, anyway...

[TERA]

bitcoin trends are not driven by news; they are driven by the accumulation/distribution cycle within the long term trend.

[kireinaha]

IMO, today's news that "vault of satoshi" is dropping US customers due to regulatory concerns was much worse than the potential unmasking of bitcoin's creator. but it seems to have been buried and is now only a footnote to all the drama, so not sure if it's even been factored in or not.

[chriswilmer]

The bear market is dead... I can smell the dead bear.

[chriswilmer]

The bear market is dead... I can smell the dead bear.

...hmm... or maybe it's rocket fuel...

[seleme]

I still don't understand why this is perceived as bad news.

exactly, I couldn't care less where is satoshi

[shmadz]

bitcoin trends are not driven by news; they are driven by the accumulation/distribution cycle within the long term trend.

I don't always agree with TERA...

but when I do, I prefer technicals over media hype.

[Siegfried]

I still don't understand why this is perceived as bad news.

Presumably because Bitcoin holders believed that Satoshi being discovered would leave him no alternative but to dump his entire 1300000 BTC on the market. Obviously. I mean, what would you do in his shoes?  

Destroy the private keys of 90 percent of his total.

[LostDutchman]

http://www.youtube.com/watch?v=6kJXxGMeMbs

http://www.youtube.com/watch?v=g7rZTZBOrqQ

[Cassius]

It's academic anyway, since today is looking Quite Bearish. Sorry to be the bear of bad news.

[sgk]

Today the media and bitcoin community circus of the potential finding of Satoshi Nakamoto occured.  Almost exactly a week after the collapse of the largest and most historically important bitcoin exchange went under in a smoke of fraud and corruption allegations.

Holy crap!

And throw in the fact that this news is occuring on a Thursday (Friday) in some places, the most bearish day of the week over the last year. Yet, the markets, for the most part have not moved today.

I started watching these markets fairly close (as in daily) in August of 2013. So not too long ago. But what has been obvious to me is that in a bull market bad news is neutral and good news moves the markets. In a bear market, good news is neutral and bad news moves the markets. Until today, I had not seen evidence of good news moving the market and/or bad news being neutral since bitcoin was at 1200.

But today, bad news happened and the markets remained neutral. 

This is a sign, in my opinion. An important point of data to be put with other points of data.

But if we start to go up on the next positive news cycle or remain neutral the next time bitcoin is bashed, then this may be indicator that the bear market is dead.

OK, so the market is down from 670 to 635 within 24 hours, if you consider it a crash.

[seanneko]

I don't think the bear market is over. Why would somebody who didn't invest a week ago, or a month ago (before Gox died), invest now? Nothing has really changed.

I can't see us making any significant upward movement until we get big news, like the SecondMarket exchange launching.

[Cassius]

I don't think the bear market is over. Why would somebody who didn't invest a week ago, or a month ago (before Gox died), invest now? Nothing has really changed.

I can't see us making any significant upward movement until we get big news, like the SecondMarket exchange launching.

That's what I figure. Fundamentals (i.e. the extent of bitcoin adoption and use by business) is going to drive the price much more from now on. Speculative money less so after Gox. Not a bad thing: bitcoin needed the reality check to become more respectable.

[Skoupi]

I sold the moment i learned about Dorian Nakamoto.

Obviously it's not bad news but adds uncertainty and usually markets
find a way to move downwards when there is doubt.

The large move of coins that happened a few hours ago add to the effect as well.

[LostDutchman]

I must say that I am somewhat amused by the effects of the supposed outing of Satoshi.

I am often attacked if not pillorie for maintaining my position that cyrpto is really all about money and yet, when the chips are down, as it were, HODLERS SELL OFF!

One day and I suspect tht day may soon come, crypto users will realise that the original purpose and intent of crypto was nver to bo "mainstream" but rather crypto was intended to be essentially an "underground" form of exchange, free from poloitical, economic and most importantly, government control.

My $.02.

[kireinaha]

I must say that I am somewhat amused by the effects of the supposed outing of Satoshi.

I am often attacked if not pillorie for maintaining my position that cyrpto is really all about money and yet, when the chips are down, as it were, HODLERS SELL OFF!

One day and I suspect tht day may soon come, crypto users will realise that the original purpose and intent of crypto was nver to bo "mainstream" but rather crypto was intended to be essentially an "underground" form of exchange, free from poloitical, economic and most importantly, government control.

My $.02.

Is that Dick Van Dyke in your avatar?

[btcxyzzz]

IMO, today's news that "vault of satoshi" is dropping US customers due to regulatory concerns was much worse than the potential unmasking of bitcoin's creator. but it seems to have been buried and is now only a footnote to all the drama, so not sure if it's even been factored in or not.

Vault of Satoshi possibly received a huge amount of Bitcoins today (remember that bitcoin days destroyed earlier this morning), and they just don't want to do huge USD withdrawals, because it's question whether they can at all... Limits, limits...

My opinion is that this is real Satoshi and I imagine he would behave much more different if he is not real Satoshi. We're entering new FUD phase, and moving of those coins does not make me happy. I'm going to sell.

[shields]

One day and I suspect tht day may soon come, crypto users will realise that the original purpose and intent of crypto was nver to bo "mainstream" but rather crypto was intended to be essentially an "underground" form of exchange, free from poloitical, economic and most importantly, government control.

One day I suspect that people will realise that we don't know the original purpose and intent of crypto, and that it doesn't matter, as it will zero impact on how crypto will eventually be used. An open platform will be used for whatever people to decide to use it for.

[LostDutchman]

Here are some bears for you!:

http://www.kctv5.com/category/244581/nikita-berlin-polar-bear-cam

[solid12345]

Whether it's the real Satoshi or not, the big reveal as a humble senior citizen fatherly figure as the creator of a Bitcoin probably puts to ease a lot of accusations he is some underground hacker or ponzi schemer ready to take your money.

[Skoupi]

puts to ease a lot of accusations he is some underground hacker or ponzi schemer ready to take your money.

Actually there aren't any such accusations because the creator of bitcoin (whoever that is) can't take any bitcoins from you.
MtGox on the other hand can.