Was that the bottom ?

[afbitcoins]

There are several significant lows on that same lower trendline including the low point after the April 2013 'mini' bubble collapse, the bottom of the silk road siezure panic sell off and the wierd btc-e flash crash. If I'm not mistaken MtGox collapsed roughly to this level too in its death throws.

So was that the bottom? Any thoughts you'd like to share ?

Not against bearish opinions but please sensible discussion not ' ooo you don't know how to draw lines'

[1714148882]

1714148882

[1714148882]

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[findftp]

Any thoughts?


Not against bearish opinions but please sensible discussion not ' ooo you don't know how to draw lines'

Yes it was, for me.
I'm pretty much all-in.

If it goes below 160 again, I will even break one golden rule which says to not put more money into it than you can afford to loose.

[Ludi]

The bottom could be far worse and it doesn't bare thinking about, though I don't ever think it will go less than £100 and if it did it would be very bad news for miners.

[readysalted89]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year. 

[NeuroticFish]

Any thoughts?

The chance to get to 0.01$ is the same as the chance to go to 100,000$.
This being said, though I hope for BTC to grow, and do that fast, I still think that we may be far from the bottom and bad days will still come.

[neurotypical]

There's no guaranteed bottom, some say double figures are possible, some say we have already hit bottom.

[jcoin200]

There's no guaranteed bottom, some say double figures are possible, some say we have already hit bottom.

at this point it seems like if any one whale decided to get out, we could see double digits. maybe only for a few hours or days, but it definitely seems possible.

[Elwar]

I don't mind one bit staying in this $200 to $220 range, it is building a solid foundation. The only wavering have been jumps upward before coming back down. That tells me the direction it will be heading.

[afbitcoins]

Thanks for the comments !

at this point it seems like if any one whale decided to get out, we could see double digits. maybe only for a few hours or days, but it definitely seems possible.

Not sure why a whale would suddenly get out, I think it might be more likely whales will suddenly go in. But I confess to being a bit of perma bull

[findftp]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

[readysalted89]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

We never found out what price the last auction winners paid, but it must have been well below market price because they were happy to dump for whatever they could get. If the next auction winners only pay half price then they can happily dump for <160.

[findftp]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

We never found out what price the last auction winners paid, but it must have been well below market price because they were happy to dump for whatever they could get.

Do you have proof that the buyers dumped their coins?
I don't think they did actually unless you have some proof, otherwise I take it as speculation.

[slowmo1983]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

We never found out what price the last auction winners paid, but it must have been well below market price because they were happy to dump for whatever they could get. If the next auction winners only pay half price then they can happily dump for <160.

any proof that they dumped it?

[afbitcoins]

Heres another bullish idea. I'm full of bullish ideas today 

The two areas highlighted with rectangles look remarkably similar. Look what happened after the first one.

[readysalted89]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

We never found out what price the last auction winners paid, but it must have been well below market price because they were happy to dump for whatever they could get.

Do you have proof that the buyers dumped their coins?
I don't think they did actually unless you have some proof, otherwise I take it as speculation.

The price crashed from about 380 at the time of the auction announcement. After the winners got their coins it crashed right down and has not returned  to 380 yet. I assume that was partly due to the winners dumping, although Its just speculation. As I said we don't know what they paid so we can only speculate on how much they paid and if they dumped. However the accompanying price crash is quite a big coincidence if it was not caused by them dumping.

[findftp]

Heres another bullish idea. I'm full of bullish ideas today 

The two areas highlighted with rectangles look remarkably similar. Look what happened after the first one.

I was about to post something similar.
If you look at november 2013 to may 2014 it looks pretty much the same as the whole bubble from november 2014 till now.

[afbitcoins]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

We never found out what price the last auction winners paid, but it must have been well below market price because they were happy to dump for whatever they could get.

Do you have proof that the buyers dumped their coins?
I don't think they did actually unless you have some proof, otherwise I take it as speculation.

The price crashed from about 380 at the time of the auction announcement. After the winners got their coins it crashed right down and has not returned  to 380 yet. I assume that was partly due to the winners dumping, although Its just speculation. As I said we don't know what they paid so we can only speculate on how much they paid and if they dumped. However the accompanying price crash is quite a big coincidence if it was not caused by them dumping.

I find that quite a believable scenario, for me attempts to suppress price is a bullish signal. Maybe we should be saying, thanks for the opportunity to buy more cheap bitcoin. Once the bitcoin train starts rolling again you don't want to miss out.

[jcoin200]

Thanks for the comments !

at this point it seems like if any one whale decided to get out, we could see double digits. maybe only for a few hours or days, but it definitely seems possible.

Not sure why a whale would suddenly get out, I think it might be more likely whales will suddenly go in. But I confess to being a bit of perma bull

I'm just saying you never know who could be holding a big bag...someone who made a lot on silk road, someone who fears their gov't will "ban" btc might be looking to dump, you just never know why or who could dump.  I was bullish, but seeing the fallout from mt gox seems to shaken btc pretty good.  I just dont have a a lot of confidence of most players involved in btc at the moment...coinbase seems to be the most legit site and has a lot of money invested into it, but other than that I dont trust any of them...

[AtheistAKASaneBrain]

The only guaranteed bottom is 0 my friends. Other than that it's just mental masturbation. But let's try to guess the future.. we've seen 154 as the bottom for at least a month now, that should be the reference poin. It if toes lower than that, expect double figures, which would mean its time to sell your car sell your house and sell your wife because it's buy time over here.

[findftp]

The next US government auction of silk road coins could crash the price. When the winners start dumping it could spark enough panic selling to go below 160. The auction is penciled in for the first quarter of this year.  

So they first buy them at 200 and then dump them at <160?
Ah, I see, it makes sense.

We never found out what price the last auction winners paid, but it must have been well below market price because they were happy to dump for whatever they could get.

Do you have proof that the buyers dumped their coins?
I don't think they did actually unless you have some proof, otherwise I take it as speculation.

... I assume ...

Ok, speculation, thanks.
No offense.