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Topic: BTC drop to next level coming...bail the F out now! - page 8. (Read 24659 times)

sr. member
Activity: 336
Merit: 250
Quite a nice run indeed. I was particularly impressed with the price action over the weekend, especially the fact that on Sunday the BTC reached a significant high just below the 670.00 level against the USD. I didn't take time to calculate proper statistics, but just by looking at the charts weekends tend to be little less volatile than weekdays, but Sundays seems to be more active than Saturdays. I wonder why:)

it hit 683 actually. i expect it to be back next week.
newbie
Activity: 58
Merit: 0
Quite a nice run indeed. I was particularly impressed with the price action over the weekend, especially the fact that on Sunday the BTC reached a significant high just below the 670.00 level against the USD. I didn't take time to calculate proper statistics, but just by looking at the charts weekends tend to be little less volatile than weekdays, but Sundays seems to be more active than Saturdays. I wonder why:)
sr. member
Activity: 533
Merit: 251
Boy, we have a nice looking trend after a long time...it's sure nice to see this did not turn into the late January saga.
sgk
legendary
Activity: 1470
Merit: 1002
!! HODL !!
sr. member
Activity: 378
Merit: 255
Damn. I thought "the lines have crossed" was legit TA. :p

Only if you're trying to catch giant marshmallow ghosts...
newbie
Activity: 58
Merit: 0
...
Just for the record, Coindesk has published (on May 28, 2014 at 10:33 BST) an interesting article regarding the recent growth in BTC price, trying to determin the forces behind the move.


The search for specific drivers is kinda naive. My take is that this is a long-term thing. The longer bitcoin continues to simply exist, the more interesting it becomes as its own asset class (and/or as a partial replacement for PMs).

Obviously short term news plays a role, but after the Gox/China/overhype driven crash died down and bitcoin was stable for even just those few weeks, people just got back to the basic analysis of: "eh, if bitcoin survives, it's worth at least 10x current value. If it fails, 0. High risk, but a very +EV asymmetrical play."



This is absolutely 100% in line with my reasoning, your every argument is spot on. Bitcoin isn't that new now (nor is it mature enough for my complete liking), the blockchain technology has numerous interesting implementations that are just starting to flourish, many of them being beta-tested, so it's not as worthless as a tulip bulb Smiley A crowd of experts from various domains of activity is backing it up, the society around altcoins is growing, we become inspiration to one another. Oldcomers guide the way, are at the frontier of development (of services etc.) newcomers are willing to invest (both time and money), not to miss the bus. Despite some doubtful news, I am in favour of positive PR for BTC. There are some problems we need to solve as a community, but the outcome, the reward, is well worth all the trouble. I only hope that govs and all the legislation will not harm altcoins. Thankfully we have groups of lobbyists put to work.
hero member
Activity: 910
Merit: 501
Hi Favelle,

When I was replying yesterday; I was looking at the 27th of March (Not 27th of April) mistakenly.

Sorry, my fault.

Regards
Heider



No worries man.
legendary
Activity: 1722
Merit: 1004
...
Just for the record, Coindesk has published (on May 28, 2014 at 10:33 BST) an interesting article regarding the recent growth in BTC price, trying to determin the forces behind the move.


The search for specific drivers is kinda naive. My take is that this is a long-term thing. The longer bitcoin continues to simply exist, the more interesting it becomes as its own asset class (and/or as a partial replacement for PMs).

Obviously short term news plays a role, but after the Gox/China/overhype driven crash died down and bitcoin was stable for even just those few weeks, people just got back to the basic analysis of: "eh, if bitcoin survives, it's worth at least 10x current value. If it fails, 0. High risk, but a very +EV asymmetrical play."

newbie
Activity: 58
Merit: 0
Damn. I thought "the lines have crossed" was legit TA. :p

It wasn't legit TA, it was legit CA (clairvoyance) Smiley Both are very similar in respect of given results...
legendary
Activity: 4200
Merit: 4887
You're never too old to think young.
Must head to the F'ing office

You have my deepest sympathy.

Don't worry though. Some day you may break the shackles of employment and stand on your own two feet.
hero member
Activity: 728
Merit: 500
Damn. I thought "the lines have crossed" was legit TA. :p
legendary
Activity: 2324
Merit: 1125
This thread delivered  Cheesy
legendary
Activity: 1722
Merit: 1000
sr. member
Activity: 462
Merit: 250
Looking at the trends; I've just took a big chunk and queued it for an order on $446 now.

Yes, crazy, but, if it drops within the next few days, then great, if not, then lost nothing anyway...

Even if it goes up in between, it will go back down...

That's me!

Cheers
Heider




It is just tanking for some hours/ days, after the 2,500 dump the whales are waiting if there is another idiot dumper before continuing the pump, classic strategy.
newbie
Activity: 54
Merit: 0
Looking at the trends; I've just took a big chunk and queued it for an order on $446 now.

Yes, crazy, but, if it drops within the next few days, then great, if not, then lost nothing anyway...

Even if it goes up in between, it will go back down...

That's me!

Cheers
Heider


newbie
Activity: 54
Merit: 0
good strategy - bail the F out, buy more coins lower then HODL. but only if we go lower. . .

The price is going to drop some. There's good news as of lately, but nothing solid yet. Therefore there's nothing that was really driving the increase. Soon, though... soon.

Couldn't agree more, thanks for the advice mate, appreciated.
newbie
Activity: 58
Merit: 0

The whole point of this post as well as last one is some discussion about indicators and technical analysis. About understanding different aspects of trend while at the same time being wary that fundamentals play an important part as well.

If you are already good at it all then this post would not be useful to you.


As you are saying, the point of posting is to give some ideas/provoke a discussion, so that others and ourselves can benefit. This is how knowledge evolves. People do not need to listen to other ppl's advice, they have the right not to share, like or accept their views, that's fine, but I do not understand the amount of negative comments in this or similar threads. Nothing useful, just swearing, shouting, other bs. That's life.

Just for the record, Coindesk has published (on May 28, 2014 at 10:33 BST) an interesting article regarding the recent growth in BTC price, trying to determin the forces behind the move.
legendary
Activity: 1988
Merit: 1007
good strategy - bail the F out, buy more coins lower then HODL. but only if we go lower. . .

The price is going to drop some. There's good news as of lately, but nothing solid yet. Therefore there's nothing that was really driving the increase. Soon, though... soon.
newbie
Activity: 54
Merit: 0
Hi Favelle,

When I was replying yesterday; I was looking at the 27th of March (Not 27th of April) mistakenly.

Sorry, my fault.

Regards
Heider
hero member
Activity: 910
Merit: 501
Guys,

Some people are missing the point or looking at this in the wrong way.

For whatever it's worth; "at the time of posting" the US/BTC price was $542,



WTF? Are you on crack or are you just outright lying? On April 27th, Bitcoin was less than $450.
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