Dumpers are gone , bottom has been reached (366)

[Bogleg]

This is gonna get ugly upwards.

More likely get ugly downward faster.

Don't forget many traders are using leverage to buy and hold onto the price. As soon as the dam breaks, hell will break lose.

[Fuish]

This is gonna get ugly upwards.

More likely get ugly downward faster.

Don't forget many traders are using leverage to buy and hold onto the price. As soon as the dam breaks, hell will break lose.

I absolutely agree. The market will now have a 30-40 day build-up/lag, and what may have been a slow decline will quickly be a deluge. I am sure BTC will recover, the only question is in how long.

[BitcoinCharlie]

This is gonna get ugly upwards.

More likely get ugly downward faster.

Don't forget many traders are using leverage to buy and hold onto the price. As soon as the dam breaks, hell will break lose.

I absolutely agree. The market will now have a 30-40 day build-up/lag, and what may have been a slow decline will quickly be a deluge. I am sure BTC will recover, the only question is in how long.

With the inflation of the coins being produced, it's going to be awhile to shake out, but in 2 to 3 years, you're gonna be glad you've got all that BTC in that paper wallet!
It's just that most people don't think past this week in their planning

[exocytosis]

The bottom is zero. We have a long way to go.

[arieq]

Regardless of the rest of the day aside, I guess BTC will be at 350ish before this week end. We'll see what happens at 350, it could go lower. If a huge rebound were in the cards, it would have already happened by now. Still crossing my fingers though.

[BrewCrewFan]

Regardless of the rest of the day aside, I guess BTC will be at 350ish before this week end. We'll see what happens at 350, it could go lower. If a huge rebound were in the cards, it would have already happened by now. Still crossing my fingers though.

Yeah I dont get it, seems like the price holds steady and then boom, someone dumps a ton knocking down a wall drive the price down, where it will sit back and forth in a range only to get knocked down more some time later.

[derpinheimer]

Regardless of the rest of the day aside, I guess BTC will be at 350ish before this week end. We'll see what happens at 350, it could go lower. If a huge rebound were in the cards, it would have already happened by now. Still crossing my fingers though.

Yeah I dont get it, seems like the price holds steady and then boom, someone dumps a ton knocking down a wall drive the price down, where it will sit back and forth in a range only to get knocked down more some time later.

Why is that confusing? If someone sells, you would expect the price to drop. The fact that such small sells take the price down so much is testament to how overvalued BTC is right now.

[exocytosis]

The fact that such small sells take the price down so much is testament to how overvalued BTC is right now.

This is true. The market is still delusional after at least four years of Gox manipulation.

[BitcoinCharlie]

It really makes one wonder if there are forces at work to lower the price of BTC so that someone can consolidate it. Much like the gold market is being manipulated so that the Chinese can load up at a very reasonable price so as to back the yuan...

But for what reason to manipulate BTC?

[spazzdla]

It really makes one wonder if there are forces at work to lower the price of BTC so that someone can consolidate it. Much like the gold market is being manipulated so that the Chinese can load up at a very reasonable price so as to back the yuan...

But for what reason to manipulate BTC?

What if one released their group of countries had a 10 MILLION bitcoin holding..

Imagine.

[inca]

It really makes one wonder if there are forces at work to lower the price of BTC so that someone can consolidate it. Much like the gold market is being manipulated so that the Chinese can load up at a very reasonable price so as to back the yuan...

But for what reason to manipulate BTC?

It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.

I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.

[CustomChickenDelivery]

It really makes one wonder if there are forces at work to lower the price of BTC so that someone can consolidate it. Much like the gold market is being manipulated so that the Chinese can load up at a very reasonable price so as to back the yuan...

But for what reason to manipulate BTC?

To lower the price to get in cheap. Or to increase the price and sell out high.

[cbeast]

the market is bleeding out cash slowly but surely .

everyone is hoping for a new late november pump but im afraid this year bitcoin is going to get dumped and dumped again.

btc will be dumped to 200 $ or even less by the end of the year.

waiting for the final capitulation of BTC and rise of a new coin.

Me too

But it was fun

Price has nothing to do with Bitcoin development. Bitcoin development is leaving jurisdictions where progress is oppressed.

Trading cycles have more to do with price. Sure, there were shenanigans teasing the market, but the market isn't that stupid. If government bureaucrats had not been manipulating sentiment, there wouldn't have been such a panic sell-off in the first place. Hostile governments will be bypassed. Volume has been nothing compared to last winter. New markets are emerging that are friendlier. Winter is coming.

[bassclef]

It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.

I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.

I believe we still would have seen plenty of infrastructure growth if Bitcoin had stayed in the $100-$200 range. Hell, I was going to start a business until the price skyrocketed to $1000. Now I'm pointed towards accumulation, as I'm sure many are. If anything it has created more speculators.

I think Central Banks are full of smart people but stuck in their political bubble where things happen very slowly. Bitcoin is probably on their radars, but ask one of the old farts on the board what open source software is and watch the confusion. It's the same phenomenon that causes corruption in governments and bureaucracies around the world. The corruption becomes institutionalized, normalized and the people on top tend to block ideas that would threaten the status quo, which they depend on for their quality of life. The boys on the bottom see it as the only route to a political "career" and happily comply. Though Central Banks loan money to the US government, they are technically not part of the government. Since they can't close down Bitcoin, they are generally powerless against it besides trying to influence the slow process of legislation. And they must comply with the regulations that their predecessors put into place to help their banker friends and family get rich from, so it's not like they can just wave away Bitcoin.

Or maybe, just maybe, there's a nagging feeling in the back of central bankers' heads that Bitcoin could help them in the future, as they aren't stupid they know the financial system in both Europe and the US is on the brink.

[inca]

It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.

I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.

I believe we still would have seen plenty of infrastructure growth if Bitcoin had stayed in the $100-$200 range. Hell, I was going to start a business until the price skyrocketed to $1000. Now I'm pointed towards accumulation, as I'm sure many are. If anything it has created more speculators.

I think Central Banks are full of smart people but stuck in their political bubble where things happen very slowly. Bitcoin is probably on their radars, but ask one of the old farts on the board what open source software is and watch the confusion. It's the same phenomenon that causes corruption in governments and bureaucracies around the world. The corruption becomes institutionalized, normalized and the people on top tend to block ideas that would threaten the status quo, which they depend on for their quality of life. The boys on the bottom see it as the only route to a political "career" and happily comply. Though Central Banks loan money to the US government, they are technically not part of the government. Since they can't close down Bitcoin, they are generally powerless against it besides trying to influence the slow process of legislation. And they must comply with the regulations that their predecessors put into place to help their banker friends and family get rich from, so it's not like they can just wave away Bitcoin.

Or maybe, just maybe, there's a nagging feeling in the back of central bankers' heads that Bitcoin could help them in the future, as they aren't stupid they know the financial system in both Europe and the US is on the brink.

Central banks perform market operations in the stock markets, gold markets and of course forex. Bitcoin is tiny but definitely on their radar.

[yefi]

Recently I've started to read many of the poster's histories.

A thrilling pastime. You really are a wild one!

[pitham1]

It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.

I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.

I believe we still would have seen plenty of infrastructure growth if Bitcoin had stayed in the $100-$200 range. Hell, I was going to start a business until the price skyrocketed to $1000. Now I'm pointed towards accumulation, as I'm sure many are. If anything it has created more speculators.

I think Central Banks are full of smart people but stuck in their political bubble where things happen very slowly. Bitcoin is probably on their radars, but ask one of the old farts on the board what open source software is and watch the confusion. It's the same phenomenon that causes corruption in governments and bureaucracies around the world. The corruption becomes institutionalized, normalized and the people on top tend to block ideas that would threaten the status quo, which they depend on for their quality of life. The boys on the bottom see it as the only route to a political "career" and happily comply. Though Central Banks loan money to the US government, they are technically not part of the government. Since they can't close down Bitcoin, they are generally powerless against it besides trying to influence the slow process of legislation. And they must comply with the regulations that their predecessors put into place to help their banker friends and family get rich from, so it's not like they can just wave away Bitcoin.

Or maybe, just maybe, there's a nagging feeling in the back of central bankers' heads that Bitcoin could help them in the future, as they aren't stupid they know the financial system in both Europe and the US is on the brink.

Central banks perform market operations in the stock markets, gold markets and of course forex. Bitcoin is tiny but definitely on their radar.

Central banks buying bitcoins would lend a sense of legality to bitcoins. Governments wouldn't let central banks do that, at least not until they are sure that it is in their best interests.

[inca]

What have governments got to do with it?

[pitham1]

What have governments got to do with it?

Central Banks are not independent from the government in all countries. 

[lyth0s]

It could be a hacker offloading coins, who doesn't give a shit about the community. It could be a large player accumulating coins off exchange and exaggerating the post bubble bear market. It could be (a) central bank(s) trying to delay widespread growing adoption by smashing the price repeatedly. If bitcoin had not risen last november how much of the infrastructure and development would have happened. I am extremely dubious of the apparent friendly CB stance offered publicly by B.Bernanke last year and by the BOE this year. They arent fools.

I have taken my position in btc now. If we collapse to 266 or lower I will probably chuck another twenty grand at it but I consider the money a speculative and ideological punt.

I believe we still would have seen plenty of infrastructure growth if Bitcoin had stayed in the $100-$200 range. Hell, I was going to start a business until the price skyrocketed to $1000. Now I'm pointed towards accumulation, as I'm sure many are. If anything it has created more speculators.

I think Central Banks are full of smart people but stuck in their political bubble where things happen very slowly. Bitcoin is probably on their radars, but ask one of the old farts on the board what open source software is and watch the confusion. It's the same phenomenon that causes corruption in governments and bureaucracies around the world. The corruption becomes institutionalized, normalized and the people on top tend to block ideas that would threaten the status quo, which they depend on for their quality of life. The boys on the bottom see it as the only route to a political "career" and happily comply. Though Central Banks loan money to the US government, they are technically not part of the government. Since they can't close down Bitcoin, they are generally powerless against it besides trying to influence the slow process of legislation. And they must comply with the regulations that their predecessors put into place to help their banker friends and family get rich from, so it's not like they can just wave away Bitcoin.

Or maybe, just maybe, there's a nagging feeling in the back of central bankers' heads that Bitcoin could help them in the future, as they aren't stupid they know the financial system in both Europe and the US is on the brink.

Central banks perform market operations in the stock markets, gold markets and of course forex. Bitcoin is tiny but definitely on their radar.

Central banks buying bitcoins would lend a sense of legality to bitcoins. Governments wouldn't let central banks do that, at least not until they are sure that it is in their best interests.

Wait.....Do governments run the show or do the central banks