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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26845. (Read 26711749 times)

newbie
Activity: 26
Merit: 0
Bitcoin is fucked until HUGE money comes in, from somewhere. Until then, all we can hope for is that weak hands continued to get shaken out without too much damage. I do think we could be sat twiddling our thumbs well in to next year though :/
hero member
Activity: 672
Merit: 500
This little dump doesn't effect my current anlysis. We are still right on track:


short term, we see a downwards trending triangle. If we break to the UPSIDE, this will be very bullish and push us above the 654 USD fibonacci retracement:


This is basically all i read here every day for the last 2 weeks. People dumping and not to worry because we will go up.
It's starting to look silly.

I truly hate to sound like Tera but i have to be realistic. For weeks all we see are people dumping. There is nothing bullish about this. Really nothing. The ask side is getting bigger by the day.
I don't care about trend lines and past bubble behaviour. All i see is the current situation and nothing points to Bitcoin going up. Let alone another bubble.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
full member
Activity: 263
Merit: 101


They should be careful of that ledge they are standing on, its about to crumble
hero member
Activity: 728
Merit: 500
Meh. Adding my contribution to the trollbox:

"For now prepare for landing."
hero member
Activity: 882
Merit: 1003
EMA is dropping.   Currently $605
legendary
Activity: 1470
Merit: 1000
Want privacy? Use Monero!
This little dump doesn't effect my current anlysis. We are still right on track:


short term, we see a downwards trending triangle. If we break to the UPSIDE, this will be very bullish and push us above the 654 USD fibonacci retracement:
legendary
Activity: 1237
Merit: 1010
here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

  • "slow bleed" (good money drives out bad, waves of adoption)
  • "speculative attack" (on fiat currencies)
  • "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day Wink

Hehe, that's a good one.
legendary
Activity: 1428
Merit: 1000
Too much hope, too much bullishness, a hard drop is coming.. Grin
 
Quoting my mentor DanV:


Hi. I think that most who subscribe to Bubble are firstly over emphasising the seeming positive news flow and fundamentals. Based on their assessment, there is never any variation of likely out come but be bullish and that they are still focusing on price action of 2012 and 2013 in which they experience massive moves to the upside after comparable corrections.

What they do not seem to grasp is that those development of part of larger cycle which was in infancy. Now that cycle is maturing they could not have same out come. As the cycle mature the upside moves are generally less impressive and correction can take lot longer than previous instances specially after parabolic move lake in 2013.

Based on my analysis and EW interpretation, I am expecting another big drop to 340 or lower. during which time general bullish sentiments will change to despair before the low is in. So the Bubble story might still reappear but much later than many think. May be towards late 2014 or early 2015 before meaningful low is i and new cycle could develop.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 767
Merit: 532
Let's go already, start rallying up!



This is not quite happening right now
hero member
Activity: 812
Merit: 587
Space Lord
Let's go already, start rallying up!

sr. member
Activity: 448
Merit: 250
here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

  • "slow bleed" (good money drives out bad, waves of adoption)
  • "speculative attack" (on fiat currencies)
  • "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day Wink

I don't think any of these will be true. I think it will be caused by inflation causing lenders to only issue debt denominated in btc to reduce risk. Then the rest of the economy must follow, as individuals and firms alike attempt to pay back those debts.
legendary
Activity: 1400
Merit: 1013
Not enough people realize this yet:

Quote
Everyone admonishes people to not borrow in order to buy bitcoins. The reality is that money is fungible: if you buy bitcoins instead of paying down your mortgage's principal, you are a leveraged bitcoin investor. Almost everyone is a leveraged bitcoin investor, because it makes economic sense (within reason). The cost of borrowing (annualized interest rates ranging from 0% to 25%) is lower than the expected return of owning bitcoins.

This is the carry trade to end all carry trades. Once people start to figure that out...
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
I feel rather calm, not so much like I feel the train needs to come...think the newbies are figuring out how and where to buy bitcoin.

That would calm me down if the newbies are able to figure out where to buy and acquire bitcoin that means good news for adopters
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 546
Merit: 250
here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

  • "slow bleed" (good money drives out bad, waves of adoption)
  • "speculative attack" (on fiat currencies)
  • "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day Wink

LOL:
Quote
People will be forced to pay with bitcoins

That is true. Recently someone offered to pay me some money advertising on a site I run. I told him I would do it, but only if he would pay me in bitcoin. I never heard from him again  Smiley I even told him about the benefits compared to bank transfer and offered him a discount  Cheesy

hero member
Activity: 574
Merit: 500
I feel rather calm, not so much like I feel the train needs to come...think the newbies are figuring out how and where to buy bitcoin.
donator
Activity: 2772
Merit: 1019
here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

  • "slow bleed" (good money drives out bad, waves of adoption)
  • "speculative attack" (on fiat currencies)
  • "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day Wink
full member
Activity: 210
Merit: 100
★☆★ 777Coin - The Exciting Bitco
Starting to think we will be seeing a "big budda-boom" to the upside here soon Smiley
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