Another y3804 bearish thread

[y3804]

There's no new capital entering the market. Without China, who will sustain the healthy $400+ prices? Onshore deposits will be frozen after April 14, and most exchanges will have significant problems in the future to deal with oversea deposits. Most exchanges are relying on the only bank still accepting BTC related services, China Merchants Bank. Look at what happened with FXBTC, everything they've said has been true to this day. Now they closed their exchange. The solution of OKCoin with recharge coupons won't work in the long-term, and I expect PBOC to ban China exchanges one day (there's a reason why they're moving offshore). Also, I definitely think most traders are going to withdraw their RMB before the deadline, just to see how the market reacts. As Bobby Lee said, "After the April 15 deadline, most investors will re-evaluate Bitcoin".

That being said, we've reached a $350 low, we've all scooped the cheap coins. Who's going to invest at $400+ now without China?

Also, you have to consider the amount of BTC being dumped by miners everyday.

E.g. Overstock is dumping $1Mthousands USD worth of BTC/day. KNC miners are dumping $500K USD worth of BTC/day.

There's only one direction in this market. We're going south.

On a side note, the "bounce" from the $340 bottom was definitely a pump. This is not an organic bounce. It went up wayy too fast. I suspect the big pumpers are taking their profits now.

BTW, only 12 waking hours left in China. It's nearly monday up there

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[gentlemand]

Dunno. But Overstock reported $1m in total over the opening several weeks. If it was that much a day the world would be taking rather more notice.

[inca]

There's no new capital entering the market. Without China, who will sustain the healthy $400+ prices? Onshore deposits will be frozen after April 14, and most exchanges will have significant problems in the future to deal with oversea deposits. The solution of OKCoin with recharge coupons won't work in the long-term, and I expect PBOC to ban China exchanges one day. Also, I definitely think most traders are going to withdraw their RMB before the deadline, just to see how the market reacts. As Bobby Lee said, "After the April 15 deadline, most investors will re-evaluate Bitcoin".

That being said, we've reached a $350 low, we've all scooped the cheap coins. Who's going to invest at $400+?

Also, you have to consider the amount of BTC being dumped by miners everyday.

E.g. Overstock is dumping $1M USD worth of BTC/day. KNC miners are dumping $500K USD worth of BTC/day.

There's only one direction in this market. We're going south.

BTW, only 12 waking hours left in China. It's nearly monday up there

Sounds like you have already sold your 'scooped coins'. Am I right?

[y3804]

Sounds like you have already sold your 'scooped coins'. Am I right?

I actually didn't get to scoop anything. The day BTC crashed I went out for three hours with no internet connection and completely missed the $340 bottom..

[p0peji]

There's no new capital entering the market. Without China, who will sustain the healthy $400+ prices? Onshore deposits will be frozen after April 14, and most exchanges will have significant problems in the future to deal with oversea deposits. The solution of OKCoin with recharge coupons won't work in the long-term, and I expect PBOC to ban China exchanges one day. Also, I definitely think most traders are going to withdraw their RMB before the deadline, just to see how the market reacts. As Bobby Lee said, "After the April 15 deadline, most investors will re-evaluate Bitcoin".

That being said, we've reached a $350 low, we've all scooped the cheap coins. Who's going to invest at $400+?

Also, you have to consider the amount of BTC being dumped by miners everyday.

E.g. Overstock is dumping $1M USD worth of BTC/day. KNC miners are dumping $500K USD worth of BTC/day.

There's only one direction in this market. We're going south.

BTW, only 12 waking hours left in China. It's nearly monday up there

Sounds like you have already sold your 'scooped coins'. Am I right?

That would have been the smartest thing to do.

[kooke]

Overstock is definitely not raking in $1 million worth of BTC per day. Miners are likely selling some of their mined coins to cover their expenses. It's hard to say whether we'll test the bottom again, but I wouldn't be surprised if we did.

EDIT: Looks like the drop has started again

[inca]

Only if you know the future, which you don't. These threads have only one purpose - attempting to manipulate others to sell so that you can buy in lower.

Good luck catching the bottom!

[dropt]

Sounds like you have already sold your 'scooped coins'. Am I right?

I actually didn't get to scoop anything. The day BTC crashed I went out for three hours with no internet connection and completely missed the $340 bottom..

This just made my day.

[GigaCoin]

Anything below $300 would be a complete collapse scenario IMO. It also starts to get too close to buy in positions of a lot of the smart money investors, If indeed it does then it also means they probably sold already in secret.

[YipYip]

Sounds like you have already sold your 'scooped coins'. Am I right?

I actually didn't get to scoop anything. The day BTC crashed I went out for three hours with no internet connection and completely missed the $340 bottom..

This just made my day.

AGreed ...suck it bear boy

[Arghhh]

Sounds like you have already sold your 'scooped coins'. Am I right?

I actually didn't get to scoop anything. The day BTC crashed I went out for three hours with no internet connection and completely missed the $340 bottom..

This just made my day.

AGreed ...suck it bear boy

+3, suck it, ya moron

[njcarlos]

Agree w/ entirety of OP's statements. Once this all fleshes out, we'll sit in the 150-250 range for a very long time.

[YipYip]

Agree w/ entirety of OP's statements. Once this all fleshes out, we'll sit in the 150-250 range for a very long time.

Cool ...lets bet ..escrow salty spoon 0.1-2 btc we wont hit sub 300 on a closing of a 5 min candle on stamp in the next 2 weeks

[njcarlos]

That time frame is laughable. No argument from me.

[YipYip]

That time frame is laughable. No argument from me.

give me a time frame that makes you happy

[njcarlos]

Sure, I'll take that 50USD bet we trade below $300 before this time next year.

[njcarlos]

I'll narrow that to 6 months. Anything sooner I'm not comfortable with, but I wouldn't be surprised if it happened sooner.

[YipYip]

Sure, I'll take that 50USD bet we trade below $300 before this time next year.

12 months ....really ...(i actually think it is in my favour the longer we go out )

Ok lets lock in 0.1 btc that btc wont hit closing price of sub 300 on a 5 min candle on stamp

Lets revist this in 12 months ..I also give credit for putting yopur money where your mouth is

[bgmc]

This the most depressing thread. Why bother? If you're that negative about btc, then why even spend the time to post about something that you do NOT believe in?

[YipYip]

I'll narrow that to 6 months. Anything sooner I'm not comfortable with, but I wouldn't be surprised if it happened sooner.

Cool ...if it will go your way it will happen sooner rather than later so 6 months it is then

Cant wait for my sweet sweet btc