Well , frankly I was interested to hear some thoughts of the community about either side
Why have people clicked that prices go up and what do those think who clicked that prices go down ?
Why have people clicked that prices go up and what do those think who clicked that prices go down ?
I don't know how to interpret a sentiment poll like that, but I can tell you why I clicked "up":
- technical (a naive view): uptrend of July, August broke into a slightly ascending triangle -> continuation (bull flag?). If we break through $150 in the process, there is not much left to clear
- mining: getting into mining looks bleak. Buying hardware at this point in time (and going forward I assume) doesn't make much sense or is highly risky at best -> people buy coins instead of mining hardware (the latter might even equate a sell of coins if bitcoins are used or sold to pay for the hardware). In other words: a lot of fiat was needed from the mining community (and acquired mostly by selling of bitcoins) to develop the various ASICs. That flow will decrease in volume.
- regulatory/media landscape: it's still looking quite fabulous, Bitcoin seems to be growing up
- general: the correction (April) is over, the will be more water running down the river before people regain trust into bitcoins value, but it will happen at increasing pace
- businesses: a lot of businesses are being started around bitcoin. What's a bitcoin business without a stash of coins? Also good for Bitcoin visibility and a good way to draw in traditional VCapital that doesn't want to invest directly in XBT
- investment: increasing trust and brokers/bankers helping investors buy coins might bring big bucks
- trader emotion: bears (still waiting for $50 coins) are going to give up at some point
- After german elections some EUR-shit might hit the fan -> good for coins
I'm not calling immanent ignition of the next hidden rocket just yet, but it's becoming more and more likely every day. Maybe in 2-5 months it's possible.
Well stated.
It is great when the Technical Analysis is in line with Fundamental Analysis
