chriswilmer
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Activity: 1008
Merit: 1000
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March 30, 2014, 03:43:29 AM |
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This is a deeper bear market than last time around. Last year, we had at most five weekly red candles, after which price stabilized and generally began climbing again. This time, we've had only one uptick in the past 11 weeks, which is pretty crazy for any market. So no, I think it will be a considerable amount of time before a recovery happens... if it happens.
Does that really make sense? Because it's taken so long to recover... it will take much longer to recover? |
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kireinaha
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March 30, 2014, 03:49:19 AM |
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This is a deeper bear market than last time around. Last year, we had at most five weekly red candles, after which price stabilized and generally began climbing again. This time, we've had only one uptick in the past 11 weeks, which is pretty crazy for any market. So no, I think it will be a considerable amount of time before a recovery happens... if it happens.
Does that really make sense? Because it's taken so long to recover... it will take much longer to recover? Coupled with the fact that sentiment is still quite negative, even compared to a few weeks ago. I think it will take something major to break out of these doldrums. Just my opinion, but by looking at the charts and expecting a reversal any time soon is just blind optimism. |
Night gathers, and now my bitcoinwisdom watch begins.
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BittBurger
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March 30, 2014, 04:09:14 AM |
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Damn FUD , even if its true, why post it ?
We are discussing the different phases in a bubble deflation. There is no bubble. -B- |
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Sawadekub
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March 30, 2014, 04:27:41 AM |
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those who wanna sell dont be stupid.. while u are selling they are shorting + buying back.. LOL!
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Sawadekub
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March 30, 2014, 04:36:09 AM |
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1 thing for sure.. bitcoin is stronger then last year.. becuz many infrastructures are up.. the atms, more business started to accept it.. HOLD ON TIGHT GUYS!!! price gona soar 200-400+ in 1 week with just 1 good news LOL! it can be amazon or ebay or paypal..
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pandher
Legendary
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Activity: 952
Merit: 1000
Stagnation is Death
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March 30, 2014, 05:16:34 AM |
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those who wanna sell dont be stupid.. while u are selling they are shorting + buying back.. LOL!
Dont post in every thread, your posts wont up the price. Stop denying and get whatever profits you can or see your fortunes deplete in front of your eyes. Dont be a fanboy, be smart |
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T.Stuart
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March 30, 2014, 06:53:12 AM |
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This is a deeper bear market than last time around. Last year, we had at most five weekly red candles, after which price stabilized and generally began climbing again. This time, we've had only one uptick in the past 11 weeks, which is pretty crazy for any market. So no, I think it will be a considerable amount of time before a recovery happens... if it happens.
Does that really make sense? Because it's taken so long to recover... it will take much longer to recover? Coupled with the fact that sentiment is still quite negative, even compared to a few weeks ago. I think it will take something major to break out of these doldrums. Just my opinion, but by looking at the charts and expecting a reversal any time soon is just blind optimism. I think that there is a certain problem arising, namely that the percentage price increase in Bitcoin is outstripping the adoption rate. Adoption is going up, but not as fast. The reason for this exuberant price increase compared with adoption is that more and more of those invested in Bitcoin have "doubled down", with a very large portion (compared with other investment markets) going "all-in". This in turn keeps volatility high, because there is more hope and fear in the market. So the bear market may continue for longer than expected as investors realise that adoption is not keeping up pace. |
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knightcoin
Full Member
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Activity: 238
Merit: 100
Stand on the shoulders of giants
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March 30, 2014, 08:06:59 AM |
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Fear  Why Do We Fall? [Motivational Video] http://youtu.be/flKP4Te8L94 |
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oda.krell
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Activity: 1470
Merit: 1007
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March 30, 2014, 11:54:57 AM |
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By analogy, today feels a lot like when this was posted. I like to look back and reflect on people's attitudes then. Then, as now, there was no real bad news to go with the sell offs... just people giving up on Bitcoin.
Hm. As you can see above, I was around for that one. Feels different to me this time, but I could be wrong of course. 380-400 might well be the bottom, but I don't see the bear market as over yet. I am curious. How did you come to this conclusion? There's no short (or certain) answer to that, but the gist of it is that a number of longer term (mainly momentum based) indicators are turning (or have turned) decidedly bearish in this market, but didn't in mid-2013. Add to that various explanations that make some sense to me (like those based on EW theory), and I can see several scenarios: a quick, painless recovery (not very likely imo), another month, maybe 2 of slowly trending down, but then recovering quite swiftly (more likely than the previous, and the scenario I sort of hope for), or the worst case of a really protracted bear market that will make most of 2014 look pretty bleak in retrospect. Neither of the 3 scenarios says anything about the long term success of Bitcoin by the way, just what I expect to happen in the coming months. |
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Ibian
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Activity: 2268
Merit: 1278
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March 30, 2014, 12:35:03 PM |
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Just out of curiosity, does a new tax year for most of the world count as "major good news"?
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Look inside yourself, and you will see that you are the bubble.
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cbeast
Donator
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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March 30, 2014, 01:04:02 PM |
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Just out of curiosity, does a new tax year for most of the world count as "major good news"?
That's the thing. As one fiscal year closes, the market in that country can't easily hedge for the next . They close their books. There is no overlap. The size of their economy determines how much the market can take up the slack. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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seleme
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Activity: 2772
Merit: 1028
Duelbits.com
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March 30, 2014, 02:28:17 PM |
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It's really warming up  |
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