Topic: [POLL] What will be the bottom? - page 2. (Read 3764 times)

I love this kind of news. And the UK's HMRC stating that exchanges don't need to register. Tectonic shifts are occurring.

The Sealand story is cute, and the whatever leader of the principality was considering bitcoining his empire....but moving on to that of a German bank and exchange.  This story had a bigger effect than the 41MM Kenyans story.
For all the great equalizing intentions of the bitcoin community, the blessing of bankers and fiat carries the day with a 20% bump in price.
http://www.coindesk.com/germanys-bitcoin-de-and-fidor-bank-ag-form-partnership/

Now that we are going up, you can also vote in this poll
https://bitcointalksearch.org/topic/poll-what-will-be-the-top-254273

Hahaha funny man. It is funny, and I learned something new! Sealand is a real principality. The main difference between it and Kenya is about 41,000,000 people.

Yeah...especially the "newly created access for Kenya"....next up: Sealand!

Yesterday $80 failed, today it didn't. Tomorrow it might again. Who knows. Unless you are a day / swing trader, you shouldn't care. You should solely be focused on the news, such as v 0.9 merchant upgrades and what's going on in Argentina and the newly created access for Kenya....

that's just stupid, no offence...

I sold half of my BTC around 200$ because the price was growing to fast... (doubling and 8-9 days...)




Seems like we are at the bottom...
Although there is still a small chance to drop quickly towards 35$ and then go up again, straight towards 100$  

I bought at $190 

LOL, we could rise to $100, bounce off the resistance and then dip well below $50 in the resulting sell off - this is Bitcoin prepare for the unexpected.

I doubt this will happen - $80 failed, people aren't ready to buy. If they do so it will be grudgingly on a short term trade and they will take profit when targets are met and wait for new lows to go long.

 80 sell wall can be eaten.. and then what? if nobody buys much higher .. it will drop again..  and that wall probably will be sold again

we are not in trend reversel yet..    also the buying power is not that hot in last rebounce (well if we can call it that, it was 3 big byers.. not all of us panic buying. )

well it doenst matter for me where it goes.; i'm shorting or going long whatever direction it goes... but I think we needs to hit 50 or at least very low 60's  before the massive buying starts again..

big wales can push it much deeper into 40's but i think thats not going to happen  though 'im placing some lucky bids there

if we can eat the 80-sell wall, we will have seen the bottom at 60. If not, the bottom will be lower I guess...

Yeah, I don't think we've hit bottom yet either.

i dont think it'll drop below $35

Wait 2-3 days

It seems 60 was the borrom after all...

Only ~0.2% of outstanding BTC are traded on any given day...only 1% per week.
This is much less turnover (~6x less) than many sleepy, established corporate shares whose stock is mostly trapped in institutional funds.

My point being it seems a large share of BTC's are not frequently traded, they are being mostly held, except for a very shallow set of bitcoiners.

This, coupled with the fact that bitcoin has no "fundamentals" in any sense of the word as it applies to currencies or corporate shares (i.e. no book-value, no established trade-for-goods base, no inherent physical usage outside of trade, no backing, no market stabilization entity), points to the activity of predicting future pricing literally impossible.

You're essentially left with divining on the reactionary psychology of a shallow subset of folks that will happen to be trading BTC for fiat out in future.  How much "float" of fiat currency will folks wish to trade in/out of BTC vs. the "float" of BTC's current holders are willing to make available to the market?

Another quite unique aspect of Bitcoin pricing, which is purely speculative on my part, but becoming more obvious (at least to me) over the last few months, is the stiction of BTC pricing.  After a big movement in price, up or down, caused or accompanied by large trade volume, the pricing "sticks" to a narrow pricing band for several days or weeks until another wave of high-vol trading occurs and resets the price elsewhere.  This may just be another consequence of the current shallowness of the bitcoin market, that may go away with higher transactional adoption...or it may stay if the drivers of additional transactions choose to store in fiat instead of holding BTC.  Given the expected relative ease and low future cost of transacting into/out-of BTC, this may not go away.

Head over to CoinLab for nice charts on current bitcoin liquidity. See how the Winkledudes can cause the BTC price drop -$20 by liquidating just 10% of their BTC holdings.
http://coinlab.com/liquidity

why you think it will drop to 2011 value when today its way more popular than back then. To me its impossible.

I think you are trying to convince, others and most importantly yourself.
Why do people do not get the difference between saying something is possible and being convinced something will happen based on "intuition" (mostly group-think)

I'm convinced it will be somewhere between $5-$10 by the end of the year, sure we're gonna have some big panic sells over the coming months, lots of people that desperately need some (be it at huge losses) money for summer vacations and then after for the holidays.

Basicaly we'll be dropping hard till the end of August.
We'll see a small rise back from Sept-Nov.
Somewhere in November people will start massive dumps again to get money out for Santa n stuff, crashing the price completely, causing more panic and loss of trust than we've ever seen before.

That assumes you didn't call them friends at $20, and again at $2, and yet again at $0.05.