adamstgBit (OP)
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 27, 2013, 03:16:19 AM |
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soon there will be no more buyers to sell to!  put that in your pipe, smoke it and get paranoid there is something you can do! sell now, sell it all too the geeks! There's no way you really fooled yourself into thinking this. Are you caught out short? Cut your losses man. my losses are minimal... all thanks to paper wallets, and having BTC funds dispersed everywhere, i was only able to panic sell 10BTC  but I'm confident in my trade down trend goes down  |
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Spaceman_Spiff
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Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
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January 27, 2013, 06:28:39 AM |
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thanks to paper wallets, and having BTC funds dispersed everywhere, i was only able to panic sell 10BTC Lucky you, I though you were short bigtime. At the moment it seems like 17 is a new equilibrium point, might drop to 16, but right now i don't see it going further than that, the action is a lot more bullish than i would have thought 'post-bubble'. |
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oakpacific
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January 27, 2013, 06:31:53 AM |
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thanks to paper wallets, and having BTC funds dispersed everywhere, i was only able to panic sell 10BTC Lucky you, I though you were short bigtime. At the moment it seems like 17 is a new equilibrium point, might drop to 16, but right now i don't see it going further than that, the action is a lot more bullish than i would have thought 'post-bubble'. Wasn't really sure if we are in a bull market until saw the dump. |
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Technomage
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Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
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January 27, 2013, 07:05:14 AM |
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To me it looks like the market reacted very calmly to the "dumps". We've seen no large drop, price is over 17 and even the timing of the dumps was perfect (weekend coming up).
Based on that I would say that there is a good possibility that the rally continues next week. It's not certain of course but the reaction of the market has been bullish constantly so maybe there is still plenty of upside left.
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oakpacific
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January 27, 2013, 03:11:04 PM |
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Wow, a spike to 18.
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bzzard
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January 27, 2013, 03:11:50 PM |
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01BTC10
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Hero Member
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Activity: 756
Merit: 503
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January 27, 2013, 03:12:12 PM |
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What is going on with those week-end rally?
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arklan
Legendary
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Activity: 1778
Merit: 1008
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January 27, 2013, 03:15:58 PM |
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me thinks the upward pressure is stronger then we have previously suspected...
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i don't post much, but this space for rent.
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cheat_2_win
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January 27, 2013, 03:19:59 PM |
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To me it looks like the market reacted very calmly to the "dumps". We've seen no large drop, price is over 17 and even the timing of the dumps was perfect (weekend coming up).
Based on that I would say that there is a good possibility that the rally continues next week. It's not certain of course but the reaction of the market has been bullish constantly so maybe there is still plenty of upside left.
I am more surprised to see so much liquidity. People, it seems, sold because they wanted to buy back cheaper rather than move the money from the exchange. If that is true, then the bull market will continue for a while. |
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robocoin
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January 27, 2013, 03:41:59 PM |
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me thinks the upward pressure is stronger then we have previously suspected...
Yehhh, I did a panic buy and feel good about it. |
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cheat_2_win
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January 27, 2013, 03:45:06 PM |
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me thinks the upward pressure is stronger then we have previously suspected...
Yehhh, I did a panic buy and feel good about it. This time, I didn't panic sell and also feel good about it. |
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thezerg
Legendary
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Activity: 1246
Merit: 1010
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January 27, 2013, 03:46:33 PM |
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To me it looks like the market reacted very calmly to the "dumps". We've seen no large drop, price is over 17 and even the timing of the dumps was perfect (weekend coming up).
Based on that I would say that there is a good possibility that the rally continues next week. It's not certain of course but the reaction of the market has been bullish constantly so maybe there is still plenty of upside left.
I am more surprised to see so much liquidity. People, it seems, sold because they wanted to buy back cheaper rather than move the money from the exchange. If that is true, then the bull market will continue for a while. The timing does strongly imply an intention to buy back during the dump+dip. And that is what we are seeing. Additionally, buying interest above 5 is > 200000 BTC, a condition which is rarely seen before tuesday and never on the weekend as long as I've been tracking it (a few months). However it seems obvious (but not formally tested by me) that some portion of the change in this metric is simply due to the greater space between 5 and 17 vs 5 and 10 or 13... |
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adamstgBit (OP)
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 27, 2013, 04:29:53 PM |
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This rally is pointless, if we hit 19 again we'll just get another smack down.
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robocoin
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January 27, 2013, 04:51:11 PM |
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This rally is pointless, if we hit 19 again we'll just get another smack down.
Adam you know how this works.  |
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thoughtfan
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January 27, 2013, 04:52:42 PM |
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This rally is pointless, if we hit 19 again we'll just get another smack down.
On what basis do you conclude that? My take is that Bitcoin is still undervalued* and that the only reason we had the shakeout is because enough people believe growth that fast shouldn't be sustainable. If it really is as undervalued as I believe then the an increase in price closer to a realistic evaluation is only waiting on enough people realising how undervalued it still is. Sometimes such things are easier for people on the outside to see than those who may be over-familiar with previous patterns. Given that so many here are not comfortable with fast growth and may be looking at things from the perspective of their purchase price it is not surprising every now and again that we have a good shake out. However there are as far as I can see and as far as others have pointed out quite eloquently, plenty of fundamentals pointing to an exponential growth (at least for some time) which eventually, despite the pressure of those refusing to believe it, is bound to be reflected in the shape of the growth chart. * This whole post is based on the undervalued assumption which is the assumption upon which my trading decisions are made. This is not to say that I deny I may be wrong. It's not what I'm arguing. What I'm questioning is why others who are bullish in the bigger picture are seeing an unlikelihood of buying pressure continuing after the weekend? |
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adamstgBit (OP)
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 27, 2013, 05:20:01 PM |
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This rally is pointless, if we hit 19 again we'll just get another smack down.
On what basis do you conclude that? My take is that Bitcoin is still undervalued* and that the only reason we had the shakeout is because enough people believe growth that fast shouldn't be sustainable. If it really is as undervalued as I believe then the an increase in price closer to a realistic evaluation is only waiting on enough people realising how undervalued it still is. Sometimes such things are easier for people on the outside to see than those who may be over-familiar with previous patterns. Given that so many here are not comfortable with fast growth and may be looking at things from the perspective of their purchase price it is not surprising every now and again that we have a good shake out. However there are as far as I can see and as far as others have pointed out quite eloquently, plenty of fundamentals pointing to an exponential growth (at least for some time) which eventually, despite the pressure of those refusing to believe it, is bound to be reflected in the shape of the growth chart. * This whole post is based on the undervalued assumption which is the assumption upon which my trading decisions are made. This is not to say that I deny I may be wrong. It's not what I'm arguing. What I'm questioning is why others who are bullish in the bigger picture are seeing an unlikelihood of buying pressure continuing after the weekend? Speculation is the main factor driving the price, so bitcoin will always be overvalued. If bitcoin was worth 17$ due to supply and demand, speculation would drive the price in the 100's. |
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Luno
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January 27, 2013, 05:30:33 PM |
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"Speculation is the main factor driving the price, so bitcoin will always be overvalued.
If bitcoin was worth 17$ due to supply and demand, speculation would drive the price in the 100's".
This I have to put on my all in a frame!
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lebing
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Enabling the maximal migration
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January 27, 2013, 05:49:30 PM |
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Adam, seriously dude cut your losses. The bull is not leaving the party for quite some time.
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Bro, do you even blockchain?
-E Voorhees
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cypherdoc
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Activity: 1764
Merit: 1002
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January 27, 2013, 05:56:51 PM |
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"Speculation is the main factor driving the price, so bitcoin will always be overvalued.
If bitcoin was worth 17$ due to supply and demand, speculation would drive the price in the 100's".
This I have to put on my all in a frame!
there are just as many speculators who disbelieve as there as those who do believe. |
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