Topic: Bear Market or Market Correction. - page 2. (Read 4832 times)
Yeah I'm bearish for a while.
...
Just curious on opinions.
Just curious on opinions.
The first step is to add a time frame to your question.
(( IMO ))
Long-Term = Bullish
Medium-Term = Bearish | Extremely Bearish: Needs to retest the June 11-12 low of 10.25. | Could go as low as 6.50 to 7.50 (an old trading range) or even 1.50 if the Bulls finally give up, and enough people (including miners) panic-sell.
Short-Term = Could change before I'm done typing.
There doesn't seem to be a great deal of new capital entering the system...
Bitcoins are still being mined, and some fraction of those are sold to pay for electricity. There's enough new capital coming in every day to pay for the electricity.I can agree with your first two assertions, but I don't see market evidence of the last one. If substantial amounts of capital were being brought in, there would be a number of indicators of that (most notably that the market would be trending up rather than down).
There doesn't seem to be a great deal of new capital entering the system...
Bitcoins are still being mined, and some fraction of those are sold to pay for electricity. There's enough new capital coming in every day to pay for the electricity.
Disclaimer: I'm a relative newbie that's been experimenting with different trading and arbitrage techniques on the various markets.
I'm just trying to take a pulse of everyone's general opinion; it's obvious that when the price spiked up to $30, there was bound to be a correction. Luckily I bought in most of my coins when the price was in the 13's last month. Now, as the price creeps back to where I first started at, I'm left wondering if BTC is in a "bear" zone, or this is simply a delayed market correction.
There doesn't seem to be a great deal of new capital entering the system, and most of the trading activity appears to be bots and humans reacting to minor market hiccups (at least in the last couple of weeks where I've been obsessively watching).
Just curious on opinions.
I'm just trying to take a pulse of everyone's general opinion; it's obvious that when the price spiked up to $30, there was bound to be a correction. Luckily I bought in most of my coins when the price was in the 13's last month. Now, as the price creeps back to where I first started at, I'm left wondering if BTC is in a "bear" zone, or this is simply a delayed market correction.
There doesn't seem to be a great deal of new capital entering the system, and most of the trading activity appears to be bots and humans reacting to minor market hiccups (at least in the last couple of weeks where I've been obsessively watching).
Just curious on opinions.
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