My goodness! What a glorious Saturday morning this is!
Just look at all that Hodling this weekend! Amazing! So far so good!
Looking back over last night and checking the Gox charts all the way from 1 minute through 1 hour, I am seeing some interesting stuff.
It looks like, dare I say it, someone may have decided to dump some coins at a particular moment when there was no good reason for them to do so (well apart from all that fiendish “low volume” *yawn, stretch*). No, really, there were plenty of smallish buys going on and the price moving up. So what does this say? The plot thickens.
Further analysis shows that the dump was timed exactly at the point when the price could have reached a new high (+$888) for this uptrend or... shock horror!... look like what some people might call a small “double top”. Wooooooo !
So over a period of 15 minutes coins dropped at regular intervals creating pretty red candles.
Could this have been an attempt by a fiat heavy bear with some coins to start a cascade?
I don't know. But what I do know is this. There are a lot people sitting on a lot of money hoping that they will have one last chance to buy in low before the price keeps moving up and they maybe never get another chance to buy a Bitcoin at under $1,000.
But I don't think that they have factored in the growing interest in Bitcoin, the historical “bubbles” moving closer together, spreading adoption, etc. and.... Hodlers!
My oh my have we been Hodling so very nicely over these last couple of weeks. If the attempted panic-inducing scenario I have painted above is true, then Hodlers... you can congratulate yourselves for having shaken yet another pure speculator* from the tree.
And this is what is happening with almost every single one of these several hundred to several thousand coin dumps we have seen over the past couple of weeks. If any of those sellers was hoping to buy back in cheaper straight away: They failed; Hodling prevailed.
You don't need me to go over the myriad good reasons for sticking to your guns right now at this crucial point, Hodlers. There is indisputable evidence that a lot more investment is heading Bitcoins's way right now and in the near future. This is not like last summer at all. Thousands of managers from the worlds of finance, investment, e-commerce, etc. are looking seriously at Bitcoin now. Make no mistake: 2014 is going to be big.
And everyone can see that the price boosts, otherwise known as "bubbles", have been getting closer and closer together as Bitcoin grows. Bulls and bears alike agree on this – anyone can see it. Well following this logic any large future price rise is likely due in the first quarter of 2014. This could correlate with what some are calling an S-curve.
I believe that the time is ripe for the hundreds of thousands (soon to become tens of millions and more) of smaller Bitcoin owners – those who have invested anything between a few dollars to a few thousand dollars – to come out on top of the waves. Too long has Bitcoin been manipulated by traders with their "play money" of hundreds of thousands of dollars. But do you know what? These guys are now getting scared that they can't move the markets as much as they could in the past. And they are scared of eachother.
So let's keep Holding firm. It's a heart-warming sight! Of course I cannot make promises but I can say I believe people Hodling now will see very rewarding growth in the weeks and months to come, because Bitcoin is going to begin going mainstream in 2014. This is what I think, and I have put my own money in with this reasoning.
Good luck to you all!
*Pure speculation = Trying to make money from the price movements first and foremost. Hodling is not pure speculation: Hodlers belive Bitcoin will succeed. Do you know what the funny thing is? Even the bears on this forum believe Bitcoin will succeed. They are all waiting to buy coins because they think Bitcoin will win! Disclaimer: This is what I really think. Sorry if it is annoying for some!