Topic: Correction Overdue (Read 4890 times)
After a long time all of the exchanges are level in their prices. Any speculation about what does it mean?
I did see this coming, a drop to 700/800 CAD. But, I also predicted that after that bitcoin prices would rest at around 2k by of December. Lets see!
i agree it's not just china, but they have had a pretty big role. the start of the chain of events was ulbricht got caught, which dipped the price of BTC by about $20.. then china came into the game and it shot up to the moon. U.S. speculation then took over when the positive senate hearings. to me, there has not been any other meteoric event that has occurred since the senate hearing.
Actually, if you look closely at the charts, at the consolidation point around $200 it was Bitstamp that led the rally (or Gox, its arguable). Thats when China lagged.
I look at the rally being $200. But, yes, you could say it started at or before Ulbricht, too.
i agree it's not just china, but they have had a pretty big role. the start of the chain of events was ulbricht got caught, which dipped the price of BTC by about $20.. then china came into the game and it shot up to the moon. U.S. speculation then took over when the positive senate hearings. to me, there has not been any other meteoric event that has occurred since the senate hearing.
looks like everyone was pretty quick to snatch up those cheap $1100 Coins.
Let's be honest. No one has any idea what the value of 1 BTC is, they're watching China and following their lead. On every single thing. China will determine the final valuation.At this point in time, yes, mainly because China drug us up to 7000 CYN.
But China did not start this rally or the ones before it. China lagged this rally from the gates.
I do not believe that China is the main determining factor in bitcoin pricing. Sometimes, yes, but man we have had several boat loads of awesome news and pro-bitcoin events in the US the last 2 months and THAT has ALOT to do with this price too.
So when exactly is this "correction" coming?
LOLZ.
LOLZ.
You were saying?
looks like everyone was pretty quick to snatch up those cheap $1100 Coins.
Let's be honest. No one has any idea what the value of 1 BTC is, they're watching China and following their lead. On every single thing. China will determine the final valuation.
looks like everyone was pretty quick to snatch up those cheap $1100 Coins.
HIT THE DECK!
happening right this second!! down to under 1100 as i write this.
Well, it dropped a fair amount today. Not like a rock, more like a feather 
I suspect a bit of profit taking going on.
We indeed live in interesting times.
I suspect a bit of profit taking going on. We indeed live in interesting times.
Stoch RSI is comfortably away from overbought zone. There is a still lot of fuel in the (current stage of the) rocket.
http://bitcoincharts.com/charts/mtgoxUSD#rg120zigDailyztgSza1gEMAzm1g10za2gEMAzm2g21zi1gStochRSIzvzl
And Ask Sum in MtGox maintains healthy levels.
http://bitcoincharts.com/charts/mtgoxUSD#rg120zigDailyztgSza1gEMAzm1g10za2gEMAzm2g21zi1gStochRSIzvzl
And Ask Sum in MtGox maintains healthy levels.
It keeps correcting, every day, all the way to 'da moon' 
So when exactly is this "correction" coming?
LOLZ.
LOLZ.
Didn't Bitcoin started as a new paradigm? So those things may not apply.
That is true. But bitcoin has so far grown through bubbles mostly. Thinking bubbles suddenly don't exist anymore is kinda naive.
I'm still a long term bull and coinbug. I just don't think markets move in straight lines
Please be kind and show to the rest of the world those bubbles. Don't keep all the info for yourself
This is based on prior market moves. I believe we have switched gears forever.
"When you see reference to a new paradigm you should always, under all circumstances, take cover."
-- John Kenneth Galbraith
Trust me, 99 times out of 100 I would agree with you.
It has begun
Didn't Bitcoin started as a new paradigm? So those things may not apply.
That is true. But bitcoin has so far grown through bubbles mostly. Thinking bubbles suddenly don't exist anymore is kinda naive.
I'm still a long term bull and coinbug. I just don't think markets move in straight lines
good points but keep in mind, that time between bubbles are shorter and shorter right now we had two bubbles that cancelled each other (china would fall much more if people from USA wouldn't start buying suddenly after senate hearing).
Didn't Bitcoin started as a new paradigm? So those things may not apply.
That is true. But bitcoin has so far grown through bubbles mostly. Thinking bubbles suddenly don't exist anymore is kinda naive.
I'm still a long term bull and coinbug. I just don't think markets move in straight lines
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