[Daily Speculation Poll] :: The Bitcoin Trap

[adamstgBit]

 

i see slow climbs and fast drops as the new trend. bitcoin!

[Vandroiy]

Assuming the "poping" of "the 7.20 bubble" means the bust continuing after the echo bubble, yes.

I already wrote that though, more than two weeks ago.

[teflone]

i see slow climbs and fast drops as the new trend. bitcoin!

I see large fast drops, and slow descents the norm..   What feed are you watching ?  

[StewartJ]

Once-a-week $1 smack-downs, bumping up .50 cents, then week-long sideways movement w/no volume.

Repeat in continuing downward trend.  Until positive volume picks up.

[ineededausername]

We're rapidly moving to despair, and it will only get worse this month (and maybe Feb and part of March)

Brace yourselves for $4!  Down we go!

[proudhon]

We're rapidly moving to despair, and it will only get worse this month (and maybe Feb and part of March)

Brace yourselves for $4!  Down we go!

I think you're probably right.  A few days ago there was $1.6 million in bids.  Now there's $1 million.  Some of that got scared off, but a good portion of it was sold into.  Now that people are getting scared, more bids will get pulled and we'll probably get an accelerated downward movement - aka, panic.  As a side note, it would take an immediate $1 million just to get the price back to $7.20; that's in the event of a sudden order placed for everything between the current price and $7.20.  The resistance is getting a lot stronger.  I think a couple things are happening at once  - (1) more bitcoins are being moved to MtGox, and (2) not much new money is coming in.  Nagle could still be proved right, in the end.  We could just be witnessing the fighting last breaths.

[StewartJ]

Blue Horseshoe loves Anacott Steel.

[bb113]

The problem is everyone just waits for one of the big players to decide to do something and then ride the waves. I think thats why we see the price jump up or down, then equilibriate halfway in between, until the next big sell or buy occurs. There is too much uncertainty for normal people to make decisions regarding short term trading. Sentiment and the fundamentals appear to be irrelevant, so everyone just waits for whatever big move will occur next.

[adamstgBit]

Once-a-week $1 smack-downs, bumping up .50 cents, then week-long sideways movement w/no volume.

Repeat in continuing downward trend.  Until positive volume picks up.

now, they know we know. Question is, do they know we know that they know we know!

[antoineph]

Once-a-week $1 smack-downs, bumping up .50 cents, then week-long sideways movement w/no volume.

Repeat in continuing downward trend.  Until positive volume picks up.

now, they know we know. Question is, do they know we know that they know we know!

well, now they do.

[StewartJ]

Once-a-week $1 smack-downs, bumping up .50 cents, then week-long sideways movement w/no volume.

Repeat in continuing downward trend.  Until positive volume picks up.

now, they know we know. Question is, do they know we know that they know we know!

The Smack-Down Goblin knows all....  (hushed silence)

[teflone]

Once-a-week $1 smack-downs, bumping up .50 cents, then week-long sideways movement w/no volume.

Repeat in continuing downward trend.  Until positive volume picks up.

now, they know we know. Question is, do they know we know that they know we know!

hilarious!



I spit a bit of chips I was eating on my desk when I read that asshole! hhahaha

[StewartJ]

Gosh, trading for whole week at $6.30.

Now we've bumped down to $5.80 for another week of brain-dead sideways movement.

~~ groan ~~

[elux]

Gosh, trading for whole week at $6.30.

Now we've bumped down to $5.80 for another week of brain-dead sideways movement.

Nuh-uh, not so sure about that. As people will start to realize that their current 6.25 - 7.20 asks are getting increasingly unattainable, the mountain of asks will move lower to overwhelm the bid side. The bottom could well fall out over the next week, if the panic hasn't started already.

[bittenbob]

Gosh, trading for whole week at $6.30.

Now we've bumped down to $5.80 for another week of brain-dead sideways movement.

Nuh-uh, not so sure about that. As people will start to realize that their current 6.25 - 7.20 asks are getting increasingly unattainable, the mountain of asks will move lower to overwhelm the bid side. The bottom could well fall out over the next week, if the panic hasn't started already.

All this talk of dropping prices makes me think we are ready for another spike up.

[kwukduck]

70 cents, here we come Told you...

[bittenbob]

70 cents, here we come Told you...

LOL what? An expected correction means $0.70?

[RyNinDaCleM]

Gosh, trading for whole week at $6.30.

Now we've bumped down to $5.80 for another week of brain-dead sideways movement.

Nuh-uh, not so sure about that. As people will start to realize that their current 6.25 - 7.20 asks are getting increasingly unattainable, the mountain of asks will move lower to overwhelm the bid side. The bottom could well fall out over the next week, if the panic hasn't started already.

All this talk of dropping prices makes me think we are ready for another spike up.

With overwhelming sentiment, comes opposite movement!

[Oldminer]

We're rapidly moving to despair, and it will only get worse this month (and maybe Feb and part of March)

Brace yourselves for $4!  Down we go!

+1

[sgbett]

Gosh, trading for whole week at $6.30.

Now we've bumped down to $5.80 for another week of brain-dead sideways movement.

Nuh-uh, not so sure about that. As people will start to realize that their current 6.25 - 7.20 asks are getting increasingly unattainable, the mountain of asks will move lower to overwhelm the bid side. The bottom could well fall out over the next week, if the panic hasn't started already.

All this talk of dropping prices makes me think we are ready for another spike up.

With overwhelming sentiment, comes opposite movement!

Not yet. We're barely out of the 'buy now whilst you still have the chance' phase...

You'll know we are ready for a spike up when you stop thinking it's possible we'll get one