Was Today A Sign That The Bear Market Is Dead?

[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.