Final warning for those who sold their house

[YipYip]

Some dude on bitcointalk sold his parents' house for BTC. He's currently significantly underwater.

Yep.

The grade A clown done it when Bitcoin was still in $600 range if I remember correctly. He is in for a whole lot more pain as well as this market is still in a continual deflationary spiral, relying on manipulated short squeezes to provide for the fleeting (yet voracious) rallys that intersperse the downwards grinding.

....wonder if we have had any Bitcoin suicides yet?

Really ... i think you need some pills for the issuesyou have got going on there  

[TERA]

Just a reminder that we are entering the 2-year downtrend now. Remember: financial decisions based on nothing but emotions are not good decisions. How will you feel when your 648 coins will worth about $1296?

Believe what you want, but all the SMART money is now buying up these cheap coins. One year from now, after another ATH and the inevitable downturn thereafter, you'll be writing the same FUD, while the bulls will be relaxing on their yachts in the Mediterranean.  

Yes someone is accumulating right now.  No there is not going to be an ATH this next year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.

[inca]

Just a reminder that we are entering the 2-year downtrend now. Remember: financial decisions based on nothing but emotions are not good decisions. How will you feel when your 648 coins will worth about $1296?

Believe what you want, but all the SMART money is now buying up these cheap coins. One year from now, after another ATH and the inevitable downturn thereafter, you'll be writing the same FUD, while the bulls will be relaxing on their yachts in the Mediterranean. 

Yes someone is accumulating right now.  No there is not going to be an ATH this year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.

It is interesting how everyone on this forum can see the future so confidently (and yet so differently!).

What is annoying is pretty much every person on this forum is a bitcoin bull, yet we have to wade through awful FUD from wallies like 'fr33d0miz3r' who are plainly bulls badly disguised as bears (because they are trying to lose their shirts short selling or have sold with the aim of rebuying in lower, which works until oops!).

I will continue to trickle accumulate a few each month as always.

[Ultros]

No there is not going to be an ATH this year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.

You're very welcome to share the arguments/TAs supporting those claims. I'm genuinely interested.

[smoothie]

Just a reminder that we are entering the 2-year downtrend now. Remember: financial decisions based on nothing but emotions are not good decisions. How will you feel when your 648 coins will worth about $1296?

Believe what you want, but all the SMART money is now buying up these cheap coins. One year from now, after another ATH and the inevitable downturn thereafter, you'll be writing the same FUD, while the bulls will be relaxing on their yachts in the Mediterranean.  

Yes someone is accumulating right now.  No there is not going to be an ATH this next year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.

Quoted for future reference. Let's revisit this at the end of 2014. lol

[TERA]

No there is not going to be an ATH this year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.

You're very welcome to share the arguments/TAs supporting those claims. I'm genuinely interested.

Weekly chart features RSI divergence, negative EMA cross, and imminent  journey underneath the ichimoku cloud. None of these things have happened since 2011. Also, EW traders have used EW to show that the trend is over. Now look at a chart on any timeframe and look at the ugly arrangements of candles, specifically the downwards spikes which have immediate follow through spikes that go even lower but on lower volume - do these appear like charts that occur during a bull market? I have never seen anything like this, even in april 2013.  I think there is a long journey ahead of us to get out of and then recover from this type of bear market. Last time there was a recovery from a downtrend on such large timescales, it took 2 bull runs just to recover back within the range to get to ATH. Then finally the 3rd bull run broke ATH.

[Ibian]

In order to enter the Ichimoku cloud you must first cleanse yourself, fast for three days and nights under an ancient tree while praying to the Great Bison and only then will you be worthy.

Did it ever occur to you that this market is small enough for experienced big money to manipulate it in such a way as to frighten the pants off techies like yourself? None of it matters. The price will go up as long as adoption increases. You can't break elementary math.

[TERA]

In order to enter the Ichimoku cloud you must first cleanse yourself, fast for three days and nights under an ancient tree while praying to the Great Bison and only then will you be worthy.

Did it ever occur to you that this market is small enough for experienced big money to manipulate it in such a way as to frighten the pants off techies like yourself? None of it matters. The price will go up as long as adoption increases. You can't break elementary math.

Sorry I just read the charts and not the fairy tales of what the 'big money' might be plotting. 'big money' can exist on both sides of the book. I have a choice of either engaging in this game of guessing like you are or I can use this form of science that traders have been using to trade profitably for decades.

[Trillium]

In this thread:

• People with years of experience with markets and generally very knowledgeable about finance topics, trying to apply their skills and experience to a thing which is unlike any before it, and,
• People who have no idea what they're are doing - trying to pull money out of thin air - and usually end up making bad decisions

_{I will leave it up to you to work out which category I fall into.}

[Ibian]

In order to enter the Ichimoku cloud you must first cleanse yourself, fast for three days and nights under an ancient tree while praying to the Great Bison and only then will you be worthy.

Did it ever occur to you that this market is small enough for experienced big money to manipulate it in such a way as to frighten the pants off techies like yourself? None of it matters. The price will go up as long as adoption increases. You can't break elementary math.

Sorry I just read the charts and not the fairy tales of what the 'big money' might be plotting. 'big money' can exist on both sides of the book. I have a choice of either engaging in this game of guessing like you are or I can use this form of science that traders have been using to trade profitably for decades.

I am not guessing. Supply and demand is 100% of the economic law with bitcoin. Everything else, the pumps and dumps, whatever else is going on, is just mind games. It has no direct bearing on the technology. And please don't embarrass yourself by calling ta science. It's hard to watch.

[culexevilman]

Its depressing watching bitcoin fiat value fall, in the end I guess we still trust old fiat more than crypto...

[piramida]

Its depressing watching bitcoin fiat value fall, in the end I guess we still trust old fiat more than crypto...

define "we", because we don't. it is depressing in a sense that "I could have bought more things just three months ago with my coins", sure, but it is much more of a relief of "oh great I can transfer fiat into real money cheaply now", because once you get the feeling that you are in control of your money, it stays with you forever.

[TERA]

In order to enter the Ichimoku cloud you must first cleanse yourself, fast for three days and nights under an ancient tree while praying to the Great Bison and only then will you be worthy.

Did it ever occur to you that this market is small enough for experienced big money to manipulate it in such a way as to frighten the pants off techies like yourself? None of it matters. The price will go up as long as adoption increases. You can't break elementary math.

Sorry I just read the charts and not the fairy tales of what the 'big money' might be plotting. 'big money' can exist on both sides of the book. I have a choice of either engaging in this game of guessing like you are or I can use this form of science that traders have been using to trade profitably for decades.

I am not guessing. Supply and demand is 100% of the economic law with bitcoin. Everything else, the pumps and dumps, whatever else is going on, is just mind games. It has no direct bearing on the technology. And please don't embarrass yourself by calling ta science. It's hard to watch.

The guessing I was referring to is that you are guessing that someone is in some plot behind the scenes to manipulate the charts in a certain way while taking a certain position and it goes completely undetected by TA. I agree that supply and demand affects bitcoin price, and TA is execellent at interpreting this.

[durrrr]

$2 per coin. Really? Even I am not that bearish. I don't think it could possibly go below $140 unless there was a total failure of some sort. I got this number by connecting the support trendline from 2011-2012, and I'm not saying that it will even necessarily go there.

i dont think it could go much below 250 at this poiint. i think it has shown stability to be able to hold its price up now and i think we are going into that long bear barket we have seen before. months from now we will see a bull and price will sky rocket ooncce again

[Ibian]

In order to enter the Ichimoku cloud you must first cleanse yourself, fast for three days and nights under an ancient tree while praying to the Great Bison and only then will you be worthy.

Did it ever occur to you that this market is small enough for experienced big money to manipulate it in such a way as to frighten the pants off techies like yourself? None of it matters. The price will go up as long as adoption increases. You can't break elementary math.

Sorry I just read the charts and not the fairy tales of what the 'big money' might be plotting. 'big money' can exist on both sides of the book. I have a choice of either engaging in this game of guessing like you are or I can use this form of science that traders have been using to trade profitably for decades.

I am not guessing. Supply and demand is 100% of the economic law with bitcoin. Everything else, the pumps and dumps, whatever else is going on, is just mind games. It has no direct bearing on the technology. And please don't embarrass yourself by calling ta science. It's hard to watch.

The guessing I was referring to is that you are guessing that someone is in some plot behind the scenes to manipulate the charts in a certain way while taking a certain position and it goes completely undetected by TA. I agree that supply and demand affects bitcoin price, and TA is execellent at interpreting this.

Meanwhile you are guessing that it is entirely organic. I merely mentioned a possibility. None of us know. Difference is that I don't care because it doesn't matter in the long run.

[gagalady]

I think summer will heat the bitcoin and It'll start growing.

[JimboToronto]

In this thread:

• People with years of experience with markets and generally very knowledgeable about finance topics, trying to apply their skills and experience to a thing which is unlike any before it, and,
• People who have no idea what they're are doing - trying to pull money out of thin air - and usually end up making bad decisions

_{I will leave it up to you to work out which category I fall into.}

You forgot the third category: people who are more concerned with Bitcoin as a disruptive technology than as a vehicle for speculative gambling.

[UnDerDoG81]

My most loved Bitcoin question, how was it 1-2 years ago? When BTC was $1-30??? Was it the same? Were people selling their houses/cars/whatever to buy Bitcoins? If not, then these are bad signs at the moment I think!?

[counter]

Thanks for the warning but I think you may be panicking a little.  The price was up and it is still up in my opinion.