emergency forecast alert

[Xiaoxiao]

I tend to agree that there will be more downside, but I also want to point out a fact about BTC or investments in general.


When price goes up, it is easy to see BTC as a revolutionary technology that could change the world and that has incredible advantages over other means of payment, but when the markets are really bearish and price is falling BTC starts to appear redundant, not particularly useful, everybody starts to talk about its flaws and various other issues related, even though nothing particularly changed fundamentals wise between the two scenarios (only more good news).
It's a cognitive bias, even if valid points can be made in the two situations.

I think the reason for this constant downtrend is simply too much supply (3k BTC created a day if I'm not mistaken) for the current demand.
BTC has probably been overpumped, overhyped, overbought (but especially the last bubble) and demand simply is not there.
It needed a "price reset" and maybe this "price reset" it isn't over yet.

+1

[yokosan]

OP is pathetic.

He was here in 2011. He missed the opportunity. And now he is bitter and spreads FUD because he wants the price to crash so he can buy in again.

[hf100]

Just to clarify -- the OP said $200s. And I also said $200s. (Not $200)

No, the OP said sub 300s and 200s. In my book that means below 300 and below 200, but maybe others read it as low 300s and 200s. Perhaps the OP could clarify if he means below 200, or low 200s.

Through tonight to sunday, there won't be much price change... will float around 380-410... but come monday or tuesday, a sell off of monumental magnitudes will ensue.  

the drop to the sub 300s and 200s might happen sooner than i had thought.

[Xiaoxiao]

OP is pathetic.

He was here in 2011. He missed the opportunity. And now he is bitter and spreads FUD because he wants the price to crash so he can buy in again.

how do you know i "missed the opportunity".  LOL at this post.

[adamstgBit]

Bitcoin certainly HAD potential last year this time.  But as it was revealed to the masses, people aren't exactly thrilled by its protocol and such.  Sure the protocol "works".  I mean, if it doesn't even work, then it shouldn't exist in the first place.

The argument that it "works" doesn't mean it is revolutionary.  

money can now be 64 bits of data

wake up buddy.

[Argwai96]

Just to clarify -- the OP said $200s. And I also said $200s. (Not $200)

No, the OP said sub 300s and 200s. In my book that means below 300 and below 200, but maybe others read it as low 300s and 200s. Perhaps the OP could clarify if he means below 200, or low 200s.

Through tonight to sunday, there won't be much price change... will float around 380-410... but come monday or tuesday, a sell off of monumental magnitudes will ensue.  

the drop to the sub 300s and 200s might happen sooner than i had thought.

Ah, you're right, that does make more sense. I read it as $200s, but since sub-$300 is by definition $200s already.... I suppose he meant sub-$200.... anyway, I think we should have a strong corrective rally (if not reversal) off the $230-340 range (a big range, I know) before we could head back to $100s.

Not that we can't get there on BTCE, but that's a different story.

[BCEmporium]

So, you are finally buying in?
How much did you paid those guys like fallling, sevv something and so on? I want to hire them to keep the downtrend and make sure you lose money.

[Xiaoxiao]

no, this one is going str8888888888888888888888 down.  DOWN DOWN DOWN DOWN DOWN!  no dead cat bounces in a whiile.... it is goind DOWNNNN .  i'm going to drink to this.

[BCEmporium]

If you happen to have such information, you would open a short order and keep it to yourself.
I'm way too old to see a Chinese playing Mother Teresa and bite it.

Now, talking straight, to have here 2 or 3 scarecrows, how many guys you have in your propaganda task force? The "Chinese Students" group?

[Xiaoxiao]

If you happen to have such information, you would open a short order and keep it to yourself.
I'm way too old to see a Chinese playing Mother Teresa and bite it.

Now, talking straight, to have here 2 or 3 scarecrows, how many guys you have in your propaganda task force? The "Chinese Students" group?

LMFAO.  are you serious?

A) I'm american

B) what's wrong with a Chinese being like mother teresa?

C) propaganda task force on a small shitty forum? ROFL

[Argwai96]

If you happen to have such information, you would open a short order and keep it to yourself.
I'm way too old to see a Chinese playing Mother Teresa and bite it.

Now, talking straight, to have here 2 or 3 scarecrows, how many guys you have in your propaganda task force? The "Chinese Students" group?

No need to bring ethnicity into it. There is far too much of that on this forum as it is. If you wanna call out a troll, then call him out for being a troll.

[Eastwind]

I tend to agree that there will be more downside, but I also want to point out a fact about BTC or investments in general.

When price goes up, it is easy to see BTC as a revolutionary technology that could change the world and that has incredible advantages over other means of payment, but when the markets are really bearish and price is falling BTC starts to appear redundant, not particularly useful, everybody starts to talk about its flaws and various other issues related, even though nothing particularly changed fundamentals wise between the two scenarios (only more good news).
It's a cognitive bias, even if valid points can be made in the two situations.

I think the reason for this constant downtrend is simply too much supply (3k BTC created a day if I'm not mistaken) for the current demand.
BTC has probably been overpumped, overhyped, overbought (but especially the last bubble) and demand simply is not there.
It needed a "price reset" and maybe this "price reset" it isn't over yet.

Agreed. but 3600 BTC are created every day (144*24).

[kresu]

no, this one is going str8888888888888888888888 down.  DOWN DOWN DOWN DOWN DOWN!  no dead cat bounces in a whiile.... it is goind DOWNNNN .  i'm going to drink to this.

You already have been proven wrong.

Failed prediction.

Move on and join the buying frenzy.

[Xiaoxiao]

no, this one is going str8888888888888888888888 down.  DOWN DOWN DOWN DOWN DOWN!  no dead cat bounces in a whiile.... it is goind DOWNNNN .  i'm going to drink to this.

You already have been proven wrong.

Failed prediction.

Move on and join the buying frenzy.

Lol I was off by a few dollars?  all 3 big exchanges are sub 400 right now.

[Newbie1022]

no, this one is going str8888888888888888888888 down.  DOWN DOWN DOWN DOWN DOWN!  no dead cat bounces in a whiile.... it is goind DOWNNNN .  i'm going to drink to this.

You already have been proven wrong.

Failed prediction.

Move on and join the buying frenzy.

Everybody is giving Xiaoxiao a lot of grief for his TA sloppiness and his bearish demeanor... but the guy tends to be right on the big trends every single time. So, is it pretty or precise? Maybe not. But again, the guy has been right every time. If I had followed his advice about a month and a half ago to short at the top of the bubble then I'd be sitting pretty right now.

Anyhow, until he actually is wrong, save the criticisms.

[Argwai96]

It's very hard to get all the details right. If you can get the major swings right, that's all that matters. Well, if you are a trader, anyway. It seems that the advice you would receive here the most as an investor would be to baghold no matter what.