In order for a bottom to form there has to be volume. There's no volume this weekend. Look at the volume today compared to Gox's volume on April 16th. It might not be far, but it does look like someone on the sell side took a break over the weekend.
I have to say this is a weird time for Bitcoin valuation. We know there are massive difficulty increases incoming, but even at 210 million difficulty (instead of 21 million) it's still profitable to mine with ASIC. While I have sold some coin to cover fiat expenses (power and housing facilities) for my mining operation, I am mostly hoarding/holding to get back my ROI in BTC. If others are doing this same thing, then there is *some* reason to believe the price could rally. Especially if demand increases like Google Trends might start to be indicating. On the other hand, a good portion of ASICMiner Chinese investors seem to have purchased the stock in order to sell the dividends for fiat. That could easily continue, or change into holding dividends simply because they want to.
There's a lot of unknowns here, so it is hard to predict bottoms and rallies, accordingly.
Topic: Bottomed Out? (Read 917 times)
Everything so far lasted ~2.5 times longer than in 2011.
Looks like it may be bottoming. Time will tell.
Courtesy of marvinrouge... I'm looking at the first red text bubble. That's right, people will be laughing at you a year from now 
Think long term. Bears and bulls alike are often found guilty of tunnel vision.
Think long term. Bears and bulls alike are often found guilty of tunnel vision.
To be fair, it is also quite quiet.
It's weekend. Many are enjoying life. We'll go much lower soon.
So only bears took the weekend off and bulls worked over the weekend buying?
It may go higher or it may go lower but your "reason" probably has nothing to do with it.
. You're right, my reason has nothing to do with it, because I didn't provide a reason. 
It's weekend. Many are enjoying life. We'll go much lower soon.
So only bears took the weekend off and bulls worked over the weekend buying?
It may go higher or it may go lower but your "reason" probably has nothing to do with it.
It's weekend. Many are enjoying life. We'll go much lower soon.
Week end
Courtesy of marvinrouge... I'm looking at the first red text bubble. That's right, people will be laughing at you a year from now
Think long term. Bears and bulls alike are often found guilty of tunnel vision.
Think long term. Bears and bulls alike are often found guilty of tunnel vision.
For how long did it sit in the 110 and 100 area? And that wasn't the bottom!
+1How can people have such a short memory?
I mean, I understand — though I not approve — "forgetting" about stuff happened years, or even months ago... but that was barely one or two weeks!
$69 the bottom you think? Been sitting there now for 48 hrs..
For how long did it sit in the 110 and 100 area? And that wasn't the bottom!
$69 the bottom you think? Been sitting there now for 48 hrs..
Jump to: