Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 151.

slush

legendary

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Quote from: ?? on ??

Quote from: slush on November 30, 2010, 07:28:57 AM

It was predictable for many days ago...

But where was your prediction then? Take a look at S3052's comments from 26 November, and see if you still think it was obvious and predictable!

My prediction was in my mind and on my mtgox account in form of sell @0.3 and buy @0.21

. I don't care about others, it is just funny to see panic at first hand. I'm trading on NASDAQ, but it is much more anonymous and without feedback like this

.

slush

legendary

Activity: 1386

Merit: 1097

It is funny to see how everybody scream "IT GOES DOWN", "COLLAPSE", "OH NOO". Gyus, nothing happen. Relax.

It was predictable for many days ago, there were big resistance at 0.3, because nobody wanted to buy so high and uptrend force wanished.

When you see long term graph, current price is on natural level from view of 'bottom' trendline. To be honest, I did not see so clear price action for long time ago. I think 0.2 is strong support, so we will see range moves for few days above 0.2.

By the way, many of you expect that rising difficulty (=rising price of mining) and price of BTCs are in correlation. They probably are not, it is example of seeming correlation. Same example as price of gold has no relation to price of its mining itself. Don't expect that BTC will rise forever...

sturle

legendary

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https://bitmynt.no

Quote from: FreeMoney on November 30, 2010, 01:36:21 AM

Quote from: sturle on November 29, 2010, 04:32:40 PM

Quote from: ribuck on November 29, 2010, 03:51:22 PM

My statement was based on the number of people who regularly complain that it's not quick and easy to get funds into MtGox. (Note that I said "I think", not "I guarantee".)

It's my own experience too. If I could get PayPal funds into MtGox "instantly", I would buy bitcoins there.

There is a lot of demand for MtGox USD or LR in this community, and trade for PayPal. This is does not help getting more funds to Mt. Gox, because the funds are already there. It would help if Mt. Gox had more funding options. E.g. Liqpay, which is preferred by some.

There are other ways to trade Bitcoins. Why don't people use Bitcoin Market or #bitcoin-otc if they want to pay with other currencies? If the price difference is high, then use it! Get LR the slow way, buy coins at Mt. Gox and sell them for PayPal.

The way to "use' this opportunity would be to get money onto MtGox to buy and sell on BCM. People are suggesting that getting money onto MtGox is the hard part.

On a related note. I'd like to buy some MtGox for PP if anyone is interested.

Getting money into Mt. Gox isn't very difficult, but it costs. You could buy BTC for PayPal at BCM or #bitcoin-otc, take your BTC to Mt. Gox and exchange there. If this increases demand at BCM, someone will surely do the PPUSD -> LRUSD conversion for you, and get the money back to Mt. Gox with a profit. This will again lead to increasing money inflow and BTC outflow at Mt. Gox, which leads to increasing prices and a growing BTC economy. In the end every BTC owner profits.

ribuck

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It occurs to me that this drop might be due to a single person who is trading on margin with MtGox. A small price drop might have forced him to quickly liquidate his coins.

FreeMoney

legendary

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Strength in numbers

Quote from: sturle on November 29, 2010, 04:32:40 PM

Quote from: ribuck on November 29, 2010, 03:51:22 PM

My statement was based on the number of people who regularly complain that it's not quick and easy to get funds into MtGox. (Note that I said "I think", not "I guarantee".)

It's my own experience too. If I could get PayPal funds into MtGox "instantly", I would buy bitcoins there.

There is a lot of demand for MtGox USD or LR in this community, and trade for PayPal. This is does not help getting more funds to Mt. Gox, because the funds are already there. It would help if Mt. Gox had more funding options. E.g. Liqpay, which is preferred by some.

There are other ways to trade Bitcoins. Why don't people use Bitcoin Market or #bitcoin-otc if they want to pay with other currencies? If the price difference is high, then use it! Get LR the slow way, buy coins at Mt. Gox and sell them for PayPal.

The way to "use' this opportunity would be to get money onto MtGox to buy and sell on BCM. People are suggesting that getting money onto MtGox is the hard part.

On a related note. I'd like to buy some MtGox for PP if anyone is interested.

MoonShadow

legendary

Activity: 1708

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Quote from: da2ce7 on November 30, 2010, 12:37:13 AM

The trend down was one that I was not expecting... My gut feeling still says that it won't be long till we have a strong resistance of 0.80c. Roll Eyes

I'm buying accordingly, glad that the price is going down! Grin

It's just the Bitcoin Cyber Monday Fire Sale, happens every year. Didn't you get the flyer? It'll probably come in the mail on Tuesday, you know how the postal unions work.

da2ce7

legendary

Activity: 1222

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Live and Let Live

The trend down was one that I was not expecting... My gut feeling still says that it won't be long till we have a strong resistance of 0.80c. Roll Eyes

I'm buying accordingly, glad that the price is going down! Grin

S3052

legendary

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There is not a lot to add to the midday update (but I would feel bad if I did not issue the promised update in the evening as usual. So that's why here are some fresh comments):

Trend is DOWN.

Short term target of approx 0.2 has been almost reached (0.215 today) and prices bounced off from there. This evening prices then continued to decline (currently 0.236, down -13% for the day).

We have always highlighted the importance of the longterm uptrend line, and indicated that, if it is breached, the trend changes.
Now, the break of this longterm uptrend line seems to be very significant and surprises can come on the downside now. Unless 0.30-0.35 is materially broken, expect prices to decline over the next days or rather weeks, down to larger resistance in the 0.11-0.14 area.

I will try to narrow the support ranges once the pattern becomes clearer.

mpkomara

full member

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I'm with ribuck on this one. If I am a guy who just read the Irish Times article on Bitcoin who wouldn't mind spending 20 dollars on some bitcoins just for the craic, I'm going to find two things:

1) you can't just buy bitcoins with your debit card
2) oh, how do i buy bitcoins then? let me read wikipedia's article on it.

sturle

legendary

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https://bitmynt.no

Quote from: ribuck on November 29, 2010, 03:51:22 PM

My statement was based on the number of people who regularly complain that it's not quick and easy to get funds into MtGox. (Note that I said "I think", not "I guarantee".)

It's my own experience too. If I could get PayPal funds into MtGox "instantly", I would buy bitcoins there.

There is a lot of demand for MtGox USD or LR in this community, and trade for PayPal. This is does not help getting more funds to Mt. Gox, because the funds are already there. It would help if Mt. Gox had more funding options. E.g. Liqpay, which is preferred by some.

There are other ways to trade Bitcoins. Why don't people use Bitcoin Market or #bitcoin-otc if they want to pay with other currencies? If the price difference is high, then use it! Get LR the slow way, buy coins at Mt. Gox and sell them for PayPal.

ribuck

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Quote from: brocktice on November 29, 2010, 03:30:36 PM

Quote from: ribuck on November 29, 2010, 03:14:26 PM

I think those offers would be filled very quickly.

On what do you base that statement?

My statement was based on the number of people who regularly complain that it's not quick and easy to get funds into MtGox. (Note that I said "I think", not "I guarantee".)

It's my own experience too. If I could get PayPal funds into MtGox "instantly", I would buy bitcoins there.

brocktice

sr. member

Activity: 292

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Apparently I inspired this image.

Quote from: ribuck on November 29, 2010, 03:14:26 PM

I think those offers would be filled very quickly.

On what do you base that statement?

ribuck

donator

Activity: 826

Merit: 1060

Quote from: S3052 on November 29, 2010, 02:13:54 PM

There are still huge selling orders just above 0.28 in mtgox

If people could get money into MtGox using PayPal or a credit card, I think those offers would be filled very quickly.

S3052

legendary

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There are still huge selling orders just above 0.28 in mtgox which is massive resistance. Unless this resistance is cleared, there is no upside and prices may meander between here and 0.20 and potentially in another wave down to 0.11-0.14 if more BTC holders get impatient or nervous like today.

ribuck

donator

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Quote from: Bimmerhead on November 29, 2010, 12:30:23 PM

Nah, price dropped because I bought a bunch the other day.

Naah. Price dropped because you stopped buying.

caveden

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Quote from: ribuck on November 29, 2010, 12:19:40 PM

I wonder if that person sold because they saw S3052's red text earlier in this thread.

Me too.

Bimmerhead

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Quote from: ribuck on November 29, 2010, 12:19:40 PM

Quote from: wumpus on November 29, 2010, 12:10:11 PM

Darn, someone is selling wildly

I wonder if that person sold because they saw S3052's red text earlier in this thread.

Nah, price dropped because I bought a bunch the other day. Happens with just about everything I buy.

Maybe I should post my trades so you guys can make a bundle short selling.

brocktice

sr. member

Activity: 292

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Apparently I inspired this image.

I commented earlier on the mtgox blog, but difficulty is about to increase again, making bitcoins a little harder to come by. I wonder whether this might stave off a longer-term drop?

wumpus

hero member

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No Maps for These Territories

Quote from: ribuck on November 29, 2010, 12:19:40 PM

I wonder if that person sold because they saw S3052's red text earlier in this thread.

Too bad it takes days for me to get money on mtgox, otherwise I'd have bought like madness

ribuck

donator

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Quote from: wumpus on November 29, 2010, 12:10:11 PM

Darn, someone is selling wildly

I wonder if that person sold because they saw S3052's red text earlier in this thread.

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