back to square one

[ineededausername]

Stagnation forever

Never seen anything like it.

[disclaimer201]

Stagnation forever

Never seen anything like it.

Didn't you see it the last time this has happened?

[proudhon]

 

[adamstgBit]

Last call

All Aboard

[bitcoinBull]

$5.0 was resistance. Now its support.

[cbeast]

[ARapalo]

Sigh... this is the most boring volatility months ever.

[zhoutong]

And the starfish is back. :-(

[adamstgBit]

holy shit take a look at mtgox live again

The walls are GONE! 

[Maged]

And the starfish is back. :-(

What... the... hell?

[Crypt_Current]

And the starfish is back. :-(

What... the... hell?

[hiVe]

$5.0 was resistance. Now its support.

It only seems that way, wait a couple of days we'll be back to 4.xx, its gonna hit us hard and sudden as it always does and then the cries will come.
There's a wonderful pattern in all this and it works out 99.9% of the time.

[SkRRJyTC]

$5.0 was resistance. Now its support.

It only seems that way, wait a couple of days we'll be back to 4.xx, its gonna hit us hard and sudden as it always does and then the cries will come.
There's a wonderful pattern in all this and it works out 99.9% of the time.

This pattern certainly is demoralizing...  I would be much happier with higher or lower prices...

[proudhon]

$5.0 was resistance. Now its support.

It only seems that way, wait a couple of days we'll be back to 4.xx, its gonna hit us hard and sudden as it always does and then the cries will come.
There's a wonderful pattern in all this and it works out 99.9% of the time.

+1

[Technomage]

I don't think we're back to square one. I know that $5.5 was still not decisively broken which is putting some pressure to go down but the fact is that the price is going up. We're on a nice mid term uptrend, the weekly low is up for what, the sixth week in a row? From that perspective we're definitely not back to square one. We would require a drop to under $4.8 to be back to square one.

In fact I'm expecting some positive reactions to the recent news, which could be classified as potentially huge. First of all we just had the announcement of the biggest venture capital investment in a Bitcoin startup - ever. This was on Matonis' blog at Forbes. It's a $500k investment which is significant money in the Bitcoin economy.

http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/

The second news is potentially even bigger than the first and it concerns BitInstant, which is one of the most successful and well run companies in the Bitcoin economy. They just took part in a very surprisingly Bitcoin pro and Bitcoin-interested money conference (https://bitcointalk.org/index.php?topic=77846.0) and in a recent interview Charlie Shrem hinted at something really big.

http://www.thebitcointrader.com/2012/04/bitinstant-hints-at-new-contract.html

My point with all of this is that the support we have for our so called stagnating price is climbing higher slowly but surely, that development has not been broken in over a month. The second point is that the recent news, not just these, seem to strongly indicate that Bitcoin is starting to pick up speed again.

There seems to be less and less concern that Bitcoin is going to fail or be forgotten anytime soon, it's here to stay. This will increase the amount of long term investments in bitcoins and those are the kind that push the price up, since long term investors are not going to be selling right away when the price gets a small bump.

[mc_lovin]

If it sags to last week's high before 4/20, I still think we are moving forward.  It didn't sag too low, like 45 cents?

[SkRRJyTC]

I don't think we're back to square one. I know that $5.5 was still not decisively broken which is putting some pressure to go down but the fact is that the price is going up. We're on a nice mid term uptrend, the weekly low is up for what, the sixth week in a row? From that perspective we're definitely not back to square one. We would require a drop to under $4.8 to be back to square one.

In fact I'm expecting some positive reactions to the recent news, which could be classified as potentially huge. First of all we just had the announcement of the biggest venture capital investment in a Bitcoin startup - ever. This was on Matonis' blog at Forbes. It's a $500k investment which is significant money in the Bitcoin economy.

http://www.forbes.com/sites/jonmatonis/2012/04/24/coinlab-attracts-500000-in-venture-capital-for-bitcoin-projects/

The second news is potentially even bigger than the first and it concerns BitInstant, which is one of the most successful and well run companies in the Bitcoin economy. They just took part in a very surprisingly Bitcoin pro and Bitcoin-interested money conference (https://bitcointalk.org/index.php?topic=77846.0) and in a recent interview Charlie Shrem hinted at something really big.

http://www.thebitcointrader.com/2012/04/bitinstant-hints-at-new-contract.html

My point with all of this is that the support we have for our so called stagnating price is climbing higher slowly but surely, that development has not been broken in over a month. The second point is that the recent news, not just these, seem to strongly indicate that Bitcoin is starting to pick up speed again.

There seems to be less and less concern that Bitcoin is going to fail or be forgotten anytime soon, it's here to stay. This will increase the amount of long term investments in bitcoins and those are the kind that push the price up, since long term investors are not going to be selling right away when the price gets a small bump.

The last time I replied to one of your posts, I was poking fun...

But I really like this post.  I think you hit the nail on the head and described the current market mood very well.

I am especially excited about http://www.thebitcointrader.com/2012/04/bitinstant-hints-at-new-contract.html

700,000 new locations selling a maximum total of 21,000,000 = 30 coins per store being ABSOLUTE MAXIMUM amount that could be sold ever.

The demand is going to outweigh the supply... and fast.

+1 bitcent

[notme]

700,000 new locations selling a maximum total of 21,000,000 = 30 coins per store being ABSOLUTE MAXIMUM amount that could be sold ever.

The demand is going to outweigh the supply... and fast.

+1 bitcent

I'll agree this will drastically improve the ability of the demand to be met, but your math only holds if everyone who buys them holds them instead of spending them or selling them.

[SkRRJyTC]

700,000 new locations selling a maximum total of 21,000,000 = 30 coins per store being ABSOLUTE MAXIMUM amount that could be sold ever.

The demand is going to outweigh the supply... and fast.

+1 bitcent

I'll agree this will drastically improve the ability of the demand to be met, but your math only holds if everyone who buys them holds them instead of spending them or selling them.

Will these 700,000 new location be taking your BTC and giving you cash, or only the other way around?

[notme]

700,000 new locations selling a maximum total of 21,000,000 = 30 coins per store being ABSOLUTE MAXIMUM amount that could be sold ever.

The demand is going to outweigh the supply... and fast.

+1 bitcent

I'll agree this will drastically improve the ability of the demand to be met, but your math only holds if everyone who buys them holds them instead of spending them or selling them.

Will these 700,000 new location be taking your BTC and giving you cash, or only the other way around?

As I understand it, they will be selling you a USD-denominated bitinstant gift card that can be exchanged for BTC.  But, then again, details are sketchy at best.