Addition (OP)
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October 23, 2014, 03:32:27 PM Last edit: October 29, 2014, 11:07:51 PM by Addition |
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Lots of folks predicted drop to $350 range whilst some (including myself) anticipated a sharp rise to $450+
Didn't happen and looks like we are heading South today
What do the Speculators think?
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MrBig
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October 23, 2014, 04:15:16 PM |
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Bulls: Today's price doesn't matter. Surely it will go to $100k next year Bears: lower highs, and lower lows
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Addition (OP)
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October 23, 2014, 04:30:06 PM |
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Expecting a typical rebound to $370 for today (that's if this dump is over with?)
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gizmoh
Legendary
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Activity: 1428
Merit: 1000
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October 23, 2014, 04:30:34 PM |
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DOW Up = Gold Down = BTC Down What will happen when stocks which are peaking crashes.. Hint:
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podyx
Legendary
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Activity: 2338
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October 23, 2014, 04:34:19 PM |
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DOW Up = Gold Down = BTC Down What will happen when stocks which are peaking crashes.. Hint: you are bullish??
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Addition (OP)
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October 23, 2014, 05:00:55 PM |
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DOW Up = Gold Down = BTC Down What will happen when stocks which are peaking crashes.. Hint: you are bullish?? Think most bitcoiners are at heart : ) Suspect many folks are sending funds over to exchange to cap on this drop, will it arrive on time?
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exocytosis
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October 23, 2014, 05:01:27 PM |
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I think we'll mostly trade in the 250-350 range for a couple of weeks or so.
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Bitcopia
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October 23, 2014, 05:12:07 PM |
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DOW Up = Gold Down = BTC Down What will happen when stocks which are peaking crashes.. Hint: A crashing market will probably not influence Bitcoin much. Most investors in broad market funds like the DOW are risk averse, or at least have an investment strategy that allows for 1-5% max on risky investments. Their idea of risky includes precious metals. The majority aren't going to be panicking into Bitcoin, and those that do will likely allocate small percentages of their portfolio. An unstable financial system certainly has different implications for Bitcoin. Anyway, back to topic, I think we'll see range bound trading for the next couple months before we continue on our logarithmic climb. So a bit of North and South for a while. I do think $275 was the bottom.
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Bitcopia
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October 23, 2014, 05:15:38 PM |
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I think we'll mostly trade in the 250-350 range for a couple of weeks or so.
I haven't been around for a few weeks. Did your troll ego switch from "Bitcoin is d00med!!!" to "maybe things will just be ok."
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Addition (OP)
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October 23, 2014, 05:18:22 PM |
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I think we'll mostly trade in the 250-350 range for a couple of weeks or so.
yh you thinking it'll keep dropping then, will be interesting to see for sure. I'm not that confident we'll see that low, but maybe top end of your range - who knows?? Best of luck though mate hope your orders come in
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Addition (OP)
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October 23, 2014, 05:24:37 PM |
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DOW Up = Gold Down = BTC Down What will happen when stocks which are peaking crashes.. Hint: A crashing market will probably not influence Bitcoin much. Most investors in broad market funds like the DOW are risk averse, or at least have an investment strategy that allows for 1-5% max on risky investments. Their idea of risky includes precious metals. The majority aren't going to be panicking into Bitcoin, and those that do will likely allocate small percentages of their portfolio. An unstable financial system certainly has different implications for Bitcoin. Anyway, back to topic, I think we'll see range bound trading for the next couple months before we continue on our logarithmic climb. So a bit of North and South for a while. I do think $275 was the bottom. You're right, that's how commodity margin traders have been doing it decades. Back on point - I agree with you, North/South for a while in the say $340 - 400 range - I too think $275 was the floor Big climb coming, just wish I knew when ; )
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exocytosis
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October 23, 2014, 06:01:40 PM |
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I think we'll mostly trade in the 250-350 range for a couple of weeks or so.
I haven't been around for a few weeks. Did your troll ego switch from "Bitcoin is d00med!!!" to "maybe things will just be ok." I've never been a troll. I've been right as well as wrong about price development, but no one here knows exactly what will happen to BTC price in the near or far future. Personally, I think triple digit prices will hold for quite a while. But eventually they'll give in to the massive sell pressure, pushing us into the double digit abyss, where Bitcoin might belong in this post-Gox, post-delusion phase.
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Addition (OP)
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October 23, 2014, 06:02:19 PM |
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Addition (OP)
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October 23, 2014, 06:12:18 PM |
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I think we'll mostly trade in the 250-350 range for a couple of weeks or so.
I haven't been around for a few weeks. Did your troll ego switch from "Bitcoin is d00med!!!" to "maybe things will just be ok." I've never been a troll. I've been right as well as wrong about price development, but no one here knows exactly what will happen to BTC price in the near or far future. Personally, I think triple digit prices will hold for quite a while. But eventually they'll give in to the massive sell pressure, pushing us into the double digit abyss, where Bitcoin might belong in this post-Gox, post-delusion phase. Fair enough, you ain't a troll, just reckon price is gonna head South $250 range For the traders you would recommend waiting a couple weeks to hit that target - cool I'd be really surprised if that happens, I think we'll be at $430 in 2 weeks
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Addition (OP)
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October 23, 2014, 09:52:40 PM |
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Just dropped down again to $355 range - anyone else here expecting some sort of rebound $365-370?
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exocytosis
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October 23, 2014, 10:58:51 PM |
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Just dropped down again to $355 range - anyone else here expecting some sort of rebound $365-370?
Sub 300 coming by Sunday. Sub 250 by Wednesday, then brief dead cat bounce to 300ish prices.
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Addition (OP)
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October 24, 2014, 12:29:10 AM |
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Just dropped down again to $355 range - anyone else here expecting some sort of rebound $365-370?
Sub 300 coming by Sunday. Sub 250 by Wednesday, then brief dead cat bounce to 300ish prices. You're thinking a real decline over next week then huh? Front row seats for sure - will be interesting !! I say were going back to $380 30Hrs max
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Addition (OP)
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October 24, 2014, 03:03:19 AM |
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Back in the day, bitcoin fell from roughly $30 to $2 and everyone thought it was the end. The drops we're having these days are nothing in comparison. Hypothetically speaking, we could go down to $50 and still be ok... but miners would not be ok.
The exit of miners and and declining bitcoin prices go hand in hand. As the price declines, miners with heavily invested operations need to liquidate coins to pay for their expenses, which thereby leads to more price decline.
The price is also strongly tied to news/opinion. We just had BTC Trader and Moolah steal a bunch of bitcoins. Any time an exchange goes bust or a big scam happens, the price tanks. These are like 'mini-goxes' as I like to call them. I think the ultimate test will be when the US government attempts to liquidate the 144k bitcoins they confiscated from Silk Road ownership. Until that happens, there will always be that dark cloud looming overhead with the possibility that they could dump the coins. We won't skyrocket until that scenario is eliminated.
Overall, I think we need some consistent positive news for a consistent rise in prices. When we were going up before, we had consistent positive news. These days, it's like any good news is quickly overshadowed by regulations, scams, thefts, etc.
We have a long ways to go before we can go back to the 'rise and rise' similar to pre-Gox and pre-Silk Road closure.
Thanks for that insightful post - yes a rally of positive but significant (governmental/macroeconomic) implementations/news is what bitcoiners need.
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Jeremias
Newbie
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Activity: 56
Merit: 0
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October 25, 2014, 11:12:19 AM |
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There u go! $342 on Stamp. Does it really matter
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BitcoinAddicts
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October 25, 2014, 01:14:54 PM |
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Oh no, its going lower. $340 now..
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