Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28418. (Read 26711086 times)

I think that it is a different story if an investor was in a position to cash out part of his stash in December 2013.. or had been analyzing what to do during that period mid-to-late 2013 period.  So for example if anyone got into BTC in any kind of heavy way before mid-October 2013, the quick bubble may have likely caused a considerable incentive to cash out part of the appreciation - yet many may have just remained "in for the long term."

Surely the January, February and March performance seemed to draw considerations that BTC prices would remain at higher than $450s resting price points.  Of course, hindsight is 20/20, but a very large majority of those would have pegged a much higher resting point than our current mid$400s.

And, i suppose, I could be just inviting some bears to chime in to say, I told you so regarding this current mid$400s price range....

As I already stated, I doubt that we are going to be hanging around here for too long.. and probably a bit higher would be more in line with current fundamentals or at least the probability of going up seems greater than going down.. despite current low volume..

Also, even though we know that graphs can be constructed to show that $450-ish is a good stable price point, i think that BTC prices are a considerable bargain at the moment and I am sure that quite a bit.. little by little is being snatched up at these price points by the future elite (to coin a phrase from another bitcointalk thread)

mmm, not quite feeling the pain yet, maybe that is a sign we should go lower.

There is a thread ...

here it is, https://bitcointalksearch.org/topic/point-of-maximum-pain-551627

the point of maximum pain just does not seem to be here yet...

for me, there is no pain, I invested nothing, other than time and attention (ok, yeah, that is something) but this is just an experiment, you all must remember this!

don't get too carried away when we dip, don't risk more than you can afford to lose.

You could do that by selling them now and buying them back at half price. (I'm exaggerating. maybe.)

I think I'm a permabull. Going to double my coins again soon.

Does anyone else get the feeling like the dread is starting to sink into the last of the permabulls? I know that feeling. Maybe it's projection, buy I can almost hear the hope dying.

Yeah, I was a dumb-ass. I may still be a dumb-ass. The market gets the final word. My thinking at the time was that there was a rumor that had been refuted by the PBoC a week earlier, and this one would be too. I thought the story was a Dorian (unconfirmed rumor by one irresponsible reporter), but it turns out it was more likely a goxxing (no news is horrible news).

It seems we are developing our own vocabulary.

I know this one guy....

by this logic alone you shouldn't have even thought of going long, the Chinese news hasn't really changed since Dec 5th, which carried a rumor ban of Jan 31st etc etc

none the less the sheep sit on a fence where they go its banned its not banned, while I sit here and wonder how many Chinese wealthy bought on huge dips

We seem to be just stuck in this $450-ish limbo land  (NOT even $444, anymore)... and maybe this kind of boringness CANNOT be rushed with such seeming low volume... who would have even guessed that we may be floating in the mid-$450s price territory for so long.   

Seems like both Bears and Bulls are getting a little bit anxious about this BTC price point.  Personally, I keep thinking let's go down to $430 or $425 or even $420 and get it over with.. and maybe thereafter, at some point soon we can progress back up to higher resting grounds....

I'm NOT giving up on $750 to $850 being a more reasonable price range for a few months before the next bubble... maybe as late as August or September?

I seem to be so easily convinced about various bubble scenarios..  maybe it is pie in the sky thinking from me?

 Initially, I was thinking $1,500 as the next bubble, but for some reason that amount is beginning to seem too conservative, and somewhere between $2500 and $3500 or the next bubble may be more reasonable b/c it seems that once prices break the previous ATH, then there is going to be a magnitude of increase beyond the previous ATH - merely b/c bitcoin remains very much in its early stages of expansion and adoption.

At the moment, though, there seems to be some pent up pressures to push these BTC prices down to the $430 or $425 or even $420, but the last several days, the price barely will breach $440.... which may mean that we may be floating here in this $440 to $460 range for a whole week, or at least until 4/15 comes and goes?

Got that right.

I agree. I'm a long term bull. I'm only shorting now to hedge my main stash and to increase my holdings.

ok, granted, they might try to completely outlaw bitcoin. I hope they do. Every attack against bitcoin will further prove its resilience.

honey badger don't care.

Don't do this at home, kids.

Bitcoin is helluva drug.

Yeah I just got the last of my trading margin out @ $455, fully aware that could be the worst possible moment to go full fiat.

Gradual exhaustion of a short term reversal. I'm selling my trading margin.  Start buying again at 429.
Or i chase it uphill if I am wrong.  Hopefully by BTFDing.

If they don't really understand Bitcoin, then they don't know that banning bank deposits will drive it underground. You can't have it both ways. We do know that they banned another payment system that uses QR codes. Small exchanges are shutting down specifically citing this regulation. My point is only that there is uncertainty and markets hate uncertainty. The PBoC had weeks now to clarify and chose not to, even though price has fallen significantly.

This is my understanding as well. The banks may not partake in anything bitcoin. Payment processors are banned from doing business with any bitcoin exchange.

-but- I do not see any problems with banks wiring yuan to companies operating exchanges, yet.

My suspicion is that all the Chinese gov't really wants is to be able to watch and control the flow of their money, through the banks, and they're still loading up on gold as well.

My feeling is that they really don't understand what bitcoin means just yet, they are still focused on the currency wars going on in the "real world".


If bank deposits stop, it will drive it completely underground. I think they prefer to keep a watchful eye.

Explanation

I'm not so sure. The rumor is that bank deposits will be stopped also. I'm selling the bad rumor and buying the bad news. Until there is clarity one way or another, the uncertainty will weigh on the market.

They can still buy using bank deposits, just not with money via 3rd parties. Similarly okpay, dwolla and aurumxchange were all stamped on last year by regulators in the West.