You guys need a reality check

[simonk83]

I see too much blind optimism.

Pff.  Whenever I see your name on a post, I just ignore it (I may as well just put you on ignore completely, and you'll be the first which is saying a lot in this community).   You're the biggest bear/downramper/fearmonger/FUD spreader on this forum.

[mila]

I see too much blind optimism.

Pff.  Whenever I see your name on a post, I just ignore it (I may as well just put you on ignore completely, and you'll be the first which is saying a lot in this community).   You're the biggest bear/downramper/fearmonger/FUD spreader on this forum.

actually it's a valuable life hack to learn who's not worth your time to discuss with.
while ignoring a user don't worry to miss his/her posts completely as some of the stuff eventually shows up quoted by some users you don't ignore in their posts.

[Mousepotato]

So basically this entire thread can be summarized in one line:

Whatever Edward50 advises, do the exact opposite.

Got it! 

[Gabi]

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

Good luck buying a bitcoin for 5$ now 

[Litt]

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

Good luck buying a bitcoin for 5$ now 

 

If bitcoin takes off this year, I really doubt that we will ever come back down to below $4 unless sometime drastic happens to bitcoin and the network completely dries off. And it's looks like we are getting ready to take off real soon into double digits. Of course there is a chance it may fall back down, but I think it's very slim chance that we will ever see prices we did back in Oct-Dec 2011 unless something drastic happens to bitcoin.

Enjoy the low single digit pricing while you still can.   

[RodeoX]

My "reality check" arrived! and it was even bigger than I thought it would be. Thanks bitcoin!

[cypherdoc]

at this moment, the Dow is up 100 and entering a new trending phase UP.  the USD is down and UST's are selling off

even oil, gold and silver are up.

RISK ON!

[StewartJ]

at this moment, the Dow is up 100 and entering a new trending phase UP.  the USD is down and UST's are selling off

even oil, gold and silver are up.

RISK ON!

Wow. Indeed.

Gut feeling here: if the past trend holds we should steadily march up, with a break-out possible any time.

You can see this on the 10-day 15 minute chart.

CES and aforementioned financial news only add to a potential upward momentum.

[cypherdoc]

at this moment, the Dow is up 100 and entering a new trending phase UP.  the USD is down and UST's are selling off

even oil, gold and silver are up.

RISK ON!

Wow. Indeed.

Gut feeling here: if the past trend holds we should steadily march up, with a break-out possible any time.

You can see this on the 10-day 15 minute chart.

CES and aforementioned financial news only add to a potential upward momentum.

yes, i really like the fact that we didn't fail off that descending triangle.  i think it wrong foots the shorts just like the ascending triangle wrong footed the longs at 7.2.

markets like to play nasty.  this is a perfect setup. 

even more so if its a slow grind up as we're seeing.  eventually the shorts will realize what is happening which will result in a panic cover forcing the up spike like you described.

the primary trend is set and in place; UP.

[Gabi]

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

Good luck buying a bitcoin for 5$ now 

It seems i have to quote myself

[Serge]

it's the manipulator!
he is clearly keeping the price down atm for Edward and Nagle to jump in

[ensurance982]

Who keeps on digging up all those old threads? Well I guess we have to keep looking at early 2012 prices now in order to feel like current prices are high Has it already come this far? 

[BigOrangeBee]

Wow, amazing thread. I especially love the part when the OP says, "Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?"  HAHA!! I wish I was that stupid guy who paid $5 for thousands of bitcoins in 2012!!

[adamstgBit]

in OP's defence

bitcoin was pretty useless back them

[Tzupy]

in OP's defence

bitcoin was pretty useless back them

AFAIK it was already used by Silk Road.
And this necro should remind n00bs that millions of bitcoins were mined / bought at prices below 20$.

[maker88]

Who keeps on digging up all those old threads? Well I guess we have to keep looking at early 2012 prices now in order to feel like current prices are high Has it already come this far? 

Damn necromancers always resurrecting the damned

[adamandeve]

what is this bitcoins thing?

[Wandererfromthenorth]

Wow, just wow. Good to keep things in perspective lol

[jackfruit]

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA 

[smoothie]

I see too much blind optimism. Everyone thinks bitcoins will rise to the moon again.

Remember some points.

1) Bitcoins are as useless now as they ever were

2) Bitcoins are not a commodity, they are not consumed. Everyone who bought on the way up, needs to eventually sell them.

3) The market is very tiny, and is growing slowly at best.

4) 5,000-7000 new bitcoins come into existence every single day.

5) Most people sit with bitcoins on a rally, but eventually it will stall and they will start selling. This will push the price back down.

6) Obvious signs of price manipulation for the pushes. Is it someone using the push, rinse and repeat strategy playing on many of blind optimist suckers?

7) Now that the price has been potentially manipulated higher, will the manipulators keep shelling out their cash to try and hold the price high?

Anybody who wants bit coins already owns a substantial number of these useless coins. Will they keep buying more to help maintain a high price? Who are the new suckers coming into the market now and buying them?

9) Market depth supporting the now $5.00 price is looking very weak on mt. gox.

10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?

I was.