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Author Topic: Got to keep reminding myself ...  (Read 2463 times)
BittBurger
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May 02, 2014, 03:25:46 AM
 #1

That this long-ass wait for a price change is normal.   Im getting frustrated.  A little disillusioned.  I mean surely adoption must be increasing around the world.  Yet the price goes nowhere.

I try to remember - from June until November of last year, the price was completely stagnant.

That was a full 6 months. 

Still, somehow this year it seems like a much, much, much longer wait.  And its only been 5 months (Jan - May).

Why is it so much harder to be patient this time?   

-B-

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May 02, 2014, 03:30:08 AM
 #2

I think it depends on how many times you've been part of the cycle.

For many people, the first bear market they experience seems like it could really be the end of Bitcoin. So, they sort-of-are-sort-of-aren't expecting the price to go up ever (or are not sure). For us veterans, we're basically completely sure the price will go up... and now we're just impatient Smiley
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May 02, 2014, 03:37:56 AM
 #3

I think it depends on how many times you've been part of the cycle.

For many people, the first bear market they experience seems like it could really be the end of Bitcoin. So, they sort-of-are-sort-of-aren't expecting the price to go up ever (or are not sure). For us veterans, we're basically completely sure the price will go up... and now we're just impatient Smiley

Bring on NOVEMBER Cheesy

I wish I was a BEAR (pun intended ) and i could goto sleep until them ..lolz

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May 02, 2014, 03:45:03 AM
 #4

I simply think there is no conceivable way whatsoever that Bitcoin could have already reached the highest value it will ever go.  Before the vast majority of people had even heard of it?  Before any companies were even accepting it?  Before all the VC money started coming in?  Before a movie at the Tribeca Film Festival?  Before Bitcoin ATMs?  Before the ETF's launch?  Before institutional investors entering the market?  Etc etc etc.  It would completely go against logic to be under the impression that Bitcoin would have already reached it's most valuable point ever...before any of this happened.  There is simply no way!  Just stay patient.
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May 02, 2014, 03:51:20 AM
 #5

Don't wish your life away.

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May 02, 2014, 03:52:41 AM
 #6

For us veterans, we're basically completely sure the price will go up... and now we're just impatient Smiley

Or we are buying like crazy on every panic sale Wink

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BittBurger
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May 02, 2014, 03:56:07 AM
 #7

Why are we waiting for November?

I mean there's no guarantee that history will repeat itself, but the last "wait" was about 6 months.  We're at 5 months now.  So if history does repeat itself, we're looking at some changes coming in June-ish.

-B-

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
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May 02, 2014, 04:34:19 AM
 #8

Why are we waiting for November?

I mean there's no guarantee that history will repeat itself, but the last "wait" was about 6 months.  We're at 5 months now.  So if history does repeat itself, we're looking at some changes coming in June-ish.

-B-

July may have some joy...but November will be rocketship city Cheesy

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May 02, 2014, 04:47:50 AM
 #9

That this long-ass wait for a price change is normal.   Im getting frustrated.  A little disillusioned.  I mean surely adoption must be increasing around the world.  Yet the price goes nowhere.

I try to remember - from June until November of last year, the price was completely stagnant.

That was a full 6 months. 

Still, somehow this year it seems like a much, much, much longer wait.  And its only been 5 months (Jan - May).

Why is it so much harder to be patient this time?   

-B-

For some of us this run will be the most life-changing one so far.  Perhaps that is why it seems so long. Wink

I think that we have to consider Gox and China for slowing things down a bit.  Also, there are still some "manipulators" out there doing what they can to keep the price low for various reasons.  It seems like there is less obvious manipulation than there was a year ago, but there are still some whales doing what they want to do and it does affect the price.

Also, we seem to be following a very similar pattern to the previous bubbles.  6 months of consolidation is common and should perhaps be expected.  I know that I keep thinking with more adoption the consolodation periods might shorten, and perhaps that will be true at some point, but maybe this is just further proof we are still early in this game.   Early is a good thing!  Grin

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May 02, 2014, 06:06:24 AM
 #10

....
Why is it so much harder to be patient this time?   

-B-

"We" are spoiled rotten by last years excitement, when BTC had two massive bull markets the same year.
The May/June 2011 rally took a full 18 months to heat up again; Let's hope we don't have to wait nearly that long.

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May 02, 2014, 06:11:56 AM
 #11

If we have to wait then so be it.  Self-entitlement is a dangerous mindset.  The next step is selling.


 
 
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bitcon
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May 02, 2014, 08:59:41 AM
 #12

at least its somewhat stabilized from the slow skid from 800.  stability is what leads to more confidence even if its not making large jumps.


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May 02, 2014, 09:48:35 AM
 #13

The longer we go with these low prices, the more weak hands that bought in at $800+ will sell.

That way the next run up we will not have so many "Finally we are back to where I bought in, time to sell".

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May 02, 2014, 10:02:24 AM
 #14

The longer we go with these low prices, the more weak hands that bought in at $800+ will sell.

That way the next run up we will not have so many "Finally we are back to where I bought in, time to sell".

let's hope there are not too many hodlers owning in the 800 - 1200 btc range who decided that they will not let it happen again to "fail" to become $ millionaires should it ever go above $ 1000 again.  those are the ones who think through this entire bear market they may have missed their once in a lifetime chance and probably some will indeed sell next time...
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May 02, 2014, 10:36:48 AM
 #15


[/quote]

"We" are spoiled rotten by last years excitement, when BTC had two massive bull markets the same year.
The May/June 2011 rally took a full 18 months to heat up again; Let's hope we don't have to wait nearly that long.
[/quote]

Some of us who only got involved this year are longing to experience the 'spoilt rotten' feeling  Wink

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pinksheep
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May 02, 2014, 10:37:39 AM
 #16



July may have some joy...but November will be rocketship city Cheesy
[/quote]

Sure hope you're right Smiley

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MatTheCat
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May 02, 2014, 11:05:02 AM
 #17


Why is it so much harder to be patient this time?   


Cos this time, the price is grinding down. Jul-Oct, the price was grinding up, and then exploded to upside.

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May 02, 2014, 11:27:11 AM
 #18

Times will go interesting when the majority sees that Bitcoin's price indeed rises in orders of magnitude periodically. What would happen then? Because everyone cannot be right, the pattern must break. Well, there are so many ways for the pattern to break that it's not even worth speculation.

Still,
a) bubbles will get smaller and smaller until the price stabilizes
b) bubbles get bigger and bigger until the price explodes
c) there will suddenly be no more bubbles and value starts flowing slowly out from bitcoin into its better alternatives such as peercoin

Whatever happens, there is a prophecy that men will soon experience great wealth but many of them face the problem of having too little spiritual growth to support the gained riches. Whether that prophecy has something to do with bitcoin or not, remains unknown, but it may easily turn out that way. If I remember correctly, the prophecy had something to do with 2017 when man kind will move to the 5th dimension as a whole.

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May 02, 2014, 11:37:39 AM
 #19

Whatever happens, there is a prophecy that men will soon experience great wealth but many of them face the problem of having too little spiritual growth to support the gained riches. Whether that prophecy has something to do with bitcoin or not, remains unknown, but it may easily turn out that way. If I remember correctly, the prophecy had something to do with 2017 when man kind will move to the 5th dimension as a whole.

That seems to me like 21st century Western civilisation in a nutshell.

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May 02, 2014, 11:39:45 AM
 #20

If I remember correctly, the prophecy had something to do with 2017 when man kind will move to the 5th dimension as a whole.

What is the 5th dimension?

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