Bitcoin down then up? | Bitcointalksearch.org

Trolololo

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Quote from: MatTheCat on October 12, 2014, 05:28:11 AM

Quote from: BitCoinNutJob on October 12, 2014, 04:46:50 AM

But we also have large appetite for BTC at $300 as seen a few days back so i cant imagine we can trend down very far. Perhaps a sideways move which could last months or years, traders dont like to think of this but its possible.

Those 30K Ask walls, and then the flood of buying interest that bought it out, was almost certainly the same pair of hands at work....trying to engineer a high volume bottom or something like that. If there was a whole pile of capital waiting to pile into Bitcoin on the first sign of a trend reversal then it might have worked, but I would suggest that it doesn't seem to be working at all. I think Bitcoin goes down lower from here, without going much higher beforehand, if at all.

I fully agree that the 30k whale intentionally drawed a high volume bottom at 275. Somehow showing that the accumulation phase had started. And accumulation phase could last for months...

Revisiting 275 by mid December is highly probable.

PenAndPaper

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Quote from: neurotypical on October 12, 2014, 01:27:15 PM

It doesn't matter how much people hold something if there isn't a demand for it. Demand is everything.

So, supply doesn't matter? Which economic school are you from? Cheesy

neurotypical

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It doesn't matter how much people hold something if there isn't a demand for it. Demand is everything.

BitCoinNutJob

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Quote from: MatTheCat on October 12, 2014, 05:28:11 AM

Quote from: BitCoinNutJob on October 12, 2014, 04:46:50 AM

But we also have large appetite for BTC at $300 as seen a few days back so i cant imagine we can trend down very far. Perhaps a sideways move which could last months or years, traders dont like to think of this but its possible.

Those 30K Ask walls, and then the flood of buying interest that bought it out, was almost certainly the same pair of hands at work....trying to engineer a high volume bottom or something like that. If there was a whole pile of capital waiting to pile into Bitcoin on the first sign of a trend reversal then it might have worked, but I would suggest that it doesn't seem to be working at all. I think Bitcoin goes down lower from here, without going much higher beforehand, if at all.

Who knows really, it could just be the bitcoin price had to match somewhere around what it costs an average joe to mine which is around $300 right now if im not mistaken. Im happy either way if price goes down i get to buy more, if it goes up my long term holdings gain more. No point selling at this price when the market has shown recent ability to go over $1k.

MatTheCat

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Quote from: BitCoinNutJob on October 12, 2014, 04:46:50 AM

But we also have large appetite for BTC at $300 as seen a few days back so i cant imagine we can trend down very far. Perhaps a sideways move which could last months or years, traders dont like to think of this but its possible.

Those 30K Ask walls, and then the flood of buying interest that bought it out, was almost certainly the same pair of hands at work....trying to engineer a high volume bottom or something like that. If there was a whole pile of capital waiting to pile into Bitcoin on the first sign of a trend reversal then it might have worked, but I would suggest that it doesn't seem to be working at all. I think Bitcoin goes down lower from here, without going much higher beforehand, if at all.

BTCat

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I think the next bullmarket could reach $5,000 per BTC but it won't go as fast, perhaps even take a couple years to get there.

BitCoinNutJob

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Quote from: MatTheCat on October 12, 2014, 03:23:46 AM

Quote from: BitCoinNutJob on October 12, 2014, 03:17:01 AM

looks like we have a mini bull whale right now with a 2k btc buy order on stamp holding the price up at $360

Whenever you see shit like that, like really fucking obvious attempts to mould market sentiment.....always expect the counter intuitive outcome in the market.

Also, that order is placed on Bitfinex, but routed through Stamp at slightly higher price.

That 3K order has sat there for around 3 hours...the market hasn't budged...I say there is no appetite for Bitcoin at prices above 360 and that market will surely trend down.

But we also have large appetite for BTC at $300 as seen a few days back so i cant imagine we can trend down very far. Perhaps a sideways move which could last months or years, traders dont like to think of this but its possible.

arieq

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Quote from: Muscleminer on October 12, 2014, 12:35:39 AM

miners have to pay for electricity, not everyone can afford to pay for it extra.

The miners will also sell if they think that they can buy back lower, just like regular traders. And they are probably very realistic that there won't be any "moon" soon until something changes in the bitcoin world

MatTheCat

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Quote from: BitCoinNutJob on October 12, 2014, 03:17:01 AM

looks like we have a mini bull whale right now with a 2k btc buy order on stamp holding the price up at $360

Whenever you see shit like that, like really fucking obvious attempts to mould market sentiment.....always expect the counter intuitive outcome in the market.

Also, that order is placed on Bitfinex, but routed through Stamp at slightly higher price.

That 3K order has sat there for around 3 hours...the market hasn't budged...I say there is no appetite for Bitcoin at prices above 360 and that market will surely trend down.

BitCoinNutJob

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looks like we have a mini bull whale right now with a 2k btc buy order on stamp holding the price up at $360

µ

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Quote from: PenAndPaper on October 11, 2014, 09:00:27 PM

Quote from: µ on October 11, 2014, 03:35:40 AM

Bitcoin is our cryptocurrency and we can decide the price, just like we did before!

but miners have to pay for electricity and businesses can't afford to speculate by holding bitcoins... We have to reach an equilibrium before the next bubble starts to form.

Yes that is what i wrote, especially big factory miners don't hold their BTC.

Muscleminer

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miners have to pay for electricity, not everyone can afford to pay for it extra.

Cryptour

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Quote from: mnl92 on October 11, 2014, 08:53:57 PM

Anything is possible. I remember reading predictions bitcoin could hit $100000 last Christmas, and other predictions it could hit $10.

i think $10k-$100,000 is over killed. $1-2k per coin is still achievable

PenAndPaper

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Quote from: µ on October 11, 2014, 03:35:40 AM

Bitcoin is our cryptocurrency and we can decide the price, just like we did before!

but miners have to pay for electricity and businesses can't afford to speculate by holding bitcoins... We have to reach an equilibrium before the next bubble starts to form.

mnl92

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Anything is possible. I remember reading predictions bitcoin could hit $100000 last Christmas, and other predictions it could hit $10.

Mieehayii

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Not necessarily, it is possible that Bitcoin down and can't stop, on present

µ

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Oldschool topic

Topic: Bitcoin down then up? (Read 1937 times)