Topic: BTC/USD: Ready for "The Running of the Bears"? - page 6. (Read 19779 times)
Yea I think Steve Jobs said something similar to 'new paradigm' in 1985, and probably bill gates and hundreds of other idiots too. That was the top of the software market and the nasdaq crashed to near zero shortly after never to rise again..
smoothie, this one... identified by the famous technical analyst Dr. McTrollstein:
I don't see a dead cat bounce here, because price retraced too much of the downward move. But that doesn't mean that this couldn't be the start of weakness that takes us significantly lower.
@ACT777,
Didn't you sell at <$76?
LOL no i'm not mad. I'm still in more profit than you.
Didn't you sell at <$76?
LOL no i'm not mad. I'm still in more profit than you.
Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
Not at all. It's a) a weekend and b) a long weekend. Come Tuesday the price will no doubt rise again.
It's not really a long weekend. I'm assuming you're referring to the US. Good Friday is not a federal holiday and therefore banks are open.
smoothie, this one... identified by the famous technical analyst Dr. McTrollstein:
1. I love how you are zoomed in on the 5 MIN chart lol.
2. I still dont see the dead cat bounce in the BIG PICTURE: http://bitcoincharts.com/charts/mtgoxUSD#rg120ztgSzm1g10zm2g25
fail troll is fail troll
Honestly there has got to be some better trolls around here. ACT777's trolling is pathetic. lol
smoothie, this one... identified by the famous technical analyst Dr. McTrollstein:
Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
Nah, they'll keep trying to get it twisted... I just hope they won't hard-headedly hold onto their coins if it goes into a catostrophic tail-spin back to the floor. How low will it go though? No idea... but we will find out.
LOL where is the dead cat bounce?
Usually a dead cat bounce encompasses at least 50% correction from top to bottom of the move.
I think you're just early to the price correction. There are too many positive things going on right now for bit coin to hold the price down.
Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
Nah, they'll keep trying to get it twisted... I just hope they won't hard-headedly hold onto their coins if it goes into a catostrophic tail-spin back to the floor. How low will it go though? No idea... but we will find out.
Heheh, the bull trap is now set it seems... 
No guys, never called any particular number an exact top. Certainly not 75. 75 is where I decided it was time to start getting out and selling. In fact, I kept thinking in the back of my mind it just might reach 100... but idk about that now.
I said "I'm selling" and recommended others take their profits and enjoy them. But you never sell every bitcoin or every share of stock you own in one huge order -- you also don't buy in one huge order. You scale your way in and out, because no one can time these things perfectly. But I am finished selling now (perhaps was a bit premature), and looks like we got out just in time.
Be careful here... always expect a "dead cat bounce" when these things start to fall apart, or a "bull trap" as some like to call them... Will be very interesting to see what happens next!
Good luck!
--ATC--
No guys, never called any particular number an exact top. Certainly not 75. 75 is where I decided it was time to start getting out and selling. In fact, I kept thinking in the back of my mind it just might reach 100... but idk about that now.
I said "I'm selling" and recommended others take their profits and enjoy them. But you never sell every bitcoin or every share of stock you own in one huge order -- you also don't buy in one huge order. You scale your way in and out, because no one can time these things perfectly. But I am finished selling now (perhaps was a bit premature), and looks like we got out just in time.
Be careful here... always expect a "dead cat bounce" when these things start to fall apart, or a "bull trap" as some like to call them... Will be very interesting to see what happens next!
Good luck!
--ATC--
Someone showed me this image earlier, which was not made for the sake of Bitcoin but to descibe bubbles in general:
If you look closely at the chart you will find that we are actually at the take off phase.
Why?
Because that is the section where the Institutional Investors come in,
and we have had exactly that recently with the first Bitcoin Hedge Fund and the relaunch of Tradehill.
Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
LOL, you're jumping the gun a little!!! hahahHe sold at 71... how is that being right on the mark? he's off by a lot! this is just a correction and BTC changing hands...
It was at 95.70 this morning!!!! We'll see $90 again tomorrow!
Frame my comment and hang it somewhere!
Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
Not at all. It's a) a weekend and b) a long weekend. Come Tuesday the price will no doubt rise again.
87 already ... the fucker is going up faster than scuba diver's fart
a...tanku Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
Not at all. It's a) a weekend and b) a long weekend. Come Tuesday the price will no doubt rise again.
Looks like ATC777 was right on the mark. I wonder if he will get any apologies from the people who said he was nuts
Someone showed me this image earlier, which was not made for the sake of Bitcoin but to descibe bubbles in general:
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
I agree the chart applies, but you are nowhere near paradigm shift.
Do a spot survey of everyone you know IRL and come back with a percentage of people that know about bitcoin.
I could probably think of a few hundred people I know, and as far as I know *none* of them know about bitcoin, unless I told them. Any one of them, if they found out about BTC would almost definitely speak to me about it because they know I am the nerdy one.
Media Attention is just kicking in, I suspect insititutional investors might be taking it seriously. If anything the bubble to 32 was the first sell off.
Until you grasp the relative numbers involved 21million coins vs XX trillions of dollars (not billions) you are always going to come up short when you guess the end game exchange rate.
I just re-read the OP's post and rather than just say he's wrong outright let's use his own recommendations and timeline to ascertain conclusively whether he is right or wrong
To be fair to the OP, here's his conclusion
In summary, for him to be right (with an original post date at March 25th), bitcoin price needs to be below $60 no later than April 8th. If price enters $30-40 in the same timeframe, he gets top marks
He throws in a lot of mights, maybes, its possible, and even a caveat after the text I quoted above but theres no way to argue against the fact that he made a recommendation based on his TA and the quoted text is it
So let's see if he's right or wrong April 8th. In the meantime we can continue the debate.
BTW I'm long bitcoin but consider myself a neutral observer. He could be right. We'll know soon enough
To be fair to the OP, here's his conclusion
Quote
... but this time I'm going to go out on a limb and make you a clear-cut suggestion: sell. I'm selling. We've all made a lot of money, and no one has ever been hurt taking a profit. Profit is money you didn't have before, and now you have it. So take it off the table and enjoy it. You can stay in the shark pool if you want, but do so at your own peril. It looks like the correction is indeed very close -- no one has infinite money to keep pushing the price to infinity, so a correction is going to happen. If you're patient and smart, you might be able to buy back your bitcoins in the $30s or $40s in another 7-14 days.... or at least in the 50s
In summary, for him to be right (with an original post date at March 25th), bitcoin price needs to be below $60 no later than April 8th. If price enters $30-40 in the same timeframe, he gets top marks
He throws in a lot of mights, maybes, its possible, and even a caveat after the text I quoted above but theres no way to argue against the fact that he made a recommendation based on his TA and the quoted text is it
So let's see if he's right or wrong April 8th. In the meantime we can continue the debate.
BTW I'm long bitcoin but consider myself a neutral observer. He could be right. We'll know soon enough
Someone showed me this image earlier, which was not made for the sake of Bitcoin but to descibe bubbles in general:
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
You can keep lolling, but the people on this forum were probably talking about the reorganisation of society when bitcoin was still <$1.
^ This. Go to the speculation forum and click on page 72. Look at the bear posts. Is anything new here?
Someone showed me this image earlier, which was not made for the sake of Bitcoin but to descibe bubbles in general:
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
You can keep lolling, but the people on this forum were probably talking about the reorganisation of society when bitcoin was still <$1.
Someone showed me this image earlier, which was not made for the sake of Bitcoin but to descibe bubbles in general:
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
When I saw it I LOL'd... you would think it was made to exactly describe today's "Bitcoin mania", but JP Rodrigue designed it in 2008 (before Bitcoin was even born) to describe the life-cycle of typical financial bubbles.
What was probably the most amusing is how he labeled the peak "New Paradigm"; ironically, people here are talking about the "new paradigm" and "reorganization of society" and other [excessively] premature characterizations of bitcoin.
Good luck, everyone!
Not expecting a correction of some magnitude is to completely ignore the fact the Bitcoin has constantly gone from under valued to overvalued - as before once it becomes overvalued Bitcoin will take a haircut. Only those that got in late and sell low will be affected. Dreams of a $700 Bitcoin will put on the shelf for a few months until the next euphoric bull run.
But how can be know it is overvalued if the world still has no clue what a bitcoin is worth? Price discovery is always a volatile process and only hindsight will determine what is over/under valued.
Exactly right, volatility is to be expected. Be http://www.fooledbyrandomness.com'>antifragile with your strategy.
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