Best Christmas Gift = Buying the Dip Now at $320

[ivyleague1985]

Retailers are dumping pre-Xmas bitcoin payments. Their action causes a temporary bearish countertrend. The shape of the bull rally has maintained. If you want to treat yourself with some fancy Christmas gift, this is a very good entry point. Rally will jump start again when traders are back this Friday and next Monday.

Earlier this week, the Chinese currency, RMB experienced a sharp depreciation following worse than expected trade data. If this depreciation continues, it will send a signal to wealthy Chinese to convert their RMB into USD. Given the official quota system that only 50K USD can be exchanged per capita per year, the round trip from RMB to bitcoin to USD will become a way better option. This will push the demand of bitcoin significantly. If you want to speculate on bitcoin, don't overlook this important trend.

[criptix]

Tbh 320 wouldnt be worth it... we have xmas.

Let it drop to atleast 300

Merry xmas

[ivyleague1985]

Tbh 320 wouldnt be worth it... we have xmas.

Let it drop to atleast 300

Merry xmas

Merry Xmas!

320 serves as a resistance and the selling wave has been exhausted. I am afraid we may not go back to $300. Therefore, I give out the call.

[ivyleague1985]

Told you guys to buy dip at $320. We will head to north soon. 

[Jettison86]

Bought 1 BTC today.  Merry Christmas to me!   

[TrollinU]

ivyleague, go back to Harvard and study up on something else. Your market reading skillz aren't up to par.

Actually, failcoins sock? 

[Q7]

I believe the decline is momentarily and it seems to have a correlation with the fx market where it is rather quiet right now. Hopefully once this holiday period is over people would start doing exchanges again using bitcoin as a medium. Not sure if traders will be back by Friday, if not then just wait for Monday.

[scarsbergholden]

The vast majority of merchants are going to sell the bitcoin they receive regardless of the season. I am not sure that merchants like overstock (and others that accept bitcoin) have seen that much of an uptick in bitcoin related payments since black friday

[dumbdragon]

The vast majority of merchants are going to sell the bitcoin they receive regardless of the season. I am not sure that merchants like overstock (and others that accept bitcoin) have seen that much of an uptick in bitcoin related payments since black friday

Agreed. I'd question it myself... merchants need to keep their stock moving. Their inputs will be in all likelihood bought with fiat so they'll be exchanging it as soon as it is received.

[ikydesu]

Told you guys to buy dip at $320. We will head to north soon. 

Influence waiting for buyer buy dip at $320 and sell your coin --> you rich

ivyleague, go back to Harvard and study up on something else. Your market reading skillz aren't up to par.

Actually, failcoins sock? 

LOL

[abercrombie]

Too early to celebrate,  the teens and lower is where you want your limit buy orders.

[opossum]

The price of bitcoin has been going between 300 and 375 (or maybe 400) since September or so. This is just another swing down towards the 300 level when we will probably see a modest recovery to around 400.

I would predict the price stay in this range until we see some kind of major catalyst (maybe the DPR trial) that will cause the price to break out in either direction

[1Referee]

Just buy at any price at this level if you plan to hold your coins for the long term.

Some people wait days for Bitcoin to go down a few bucks before buying.

It's not worth waiting days just to save some bucks.

[resya]

Yeah I think it's also the best time to buy bitcoin. The price can go up anytime by the end of the year. Just remember that we have been testing previous lows. We already tested $310. If it touches below that then we are going to retest $300. And if we pass that then it's over

[kashish948]

First speculation thread that makes some sense. I too think we will head to the moon come new year.

[Cassie.Jill]

lower prices before this, but only sell and no one buy

[darkmind]

lower prices before this, but only sell and no one buy

You're wrong dude, btc rocket is about to fire off! there will be millions of people buying bitcoin once they learn of this bitcoin bowl. everyone will want one.

[Brewins]

Managed to gain 50 local bucks by buying on Xmas and selling today.

Planning to make more by buying in weekend and selling after new year

[botany]

Tbh 320 wouldnt be worth it... we have xmas.

Let it drop to atleast 300

Merry xmas

Price dropped to $314...
It still seems to be a down trend, although gradual.

[scarsbergholden]

The vast majority of merchants are going to sell the bitcoin they receive regardless of the season. I am not sure that merchants like overstock (and others that accept bitcoin) have seen that much of an uptick in bitcoin related payments since black friday

Agreed. I'd question it myself... merchants need to keep their stock moving. Their inputs will be in all likelihood bought with fiat so they'll be exchanging it as soon as it is received.

Exactly. The fact that there are not enough businesses accepting bitcoin for things like inventory and business services essentially forces businesses to sell their bitcoin for fiat so they can pay their suppliers and vendors (and employees)