Topic: Prepare for the new influx of buyers (Read 4239 times)

Doppelpost.

You can't say that until the price breeches the $900 mark, in which case all technical analysis would point to much higher prices ahead.

However, Bitcoin is still a small market and we all know that there are numerous Bitcoin whales already looking at 10000% (or more) profit. Not bad by anyone's reckoning. Should any of these guys think it is time to cash in or indeed conspire to drive market lower for whatever reasons they may have, then this sucker could go right down.

More often than not, 'predictions' and statements such as the one above, is a mere projection of the posters will.

Altcoins follow bitcoin in almost every aspect , well , some do fail unlike bitcoin.

Credits to OP

Though I feel a sharp downtrend in the coming days (after the first wave of new buyers purchased), this has been spot on. We've almost recovered from that 20k dump the other day.

Not just Bitcoin....it's happening to the altcoins: http://coinmarketcap.com/

Thats why new people need weeks to gather all the info about Bitcoin because 500$ per share really look high.

Told you it was a big bear trap  

i dunno about this. this rally wasnt about news. price follows price, and if a downtrend is established.....

It`s true. I call it the `Bitcoin Talk Market Indicator`. It`s better than any technical indicator. What you do is read this message board once a day. As soon as you find at least two new topics created in the span of one day that confidently announce Bitcoin will hit $100,000+ (and that now is that last time to buy for cheap), wait exactly two weeks and then sell your holdings 

Wait one more week and buy, and then wait a few months. Rinse and repeat 

If that is true, u must be fkn rolling in it.

I always used Btc for buying stuff....but never started speculating till after the last crash.

I have found in the past the level of arrogance and hubris evident on this forum is often a good contrarian indicator for trading Bitcoin.

....so I like to keep an eye on the crap that Bitcoin lunatics are spouting......just keeping myself in the fold.

I went all in the day after I heard of bitcoin. And I am damn glad I did!

I'm not prepared for the new influx of buyers!!! What do I do? What do I do? 

Dude why are you even here? Trolls will troll.

Dress it up how you will.

If I invested $500 in something and within a year, it went to $900, I would be over the moon.

If on the otherhand I invested in an asset that within the space of a year, collapsed almost 50%, I would be in a state of despair.

FTFY

OK, they will come -- but much later. Look at China: Fiat to the exchanges in under 5 minutes, but buying is subdued. The crash isn't because of "lack of fiat", it's because "areyoumotherfuckinginsaneitjustrose1700%"!

I think there will be no new people get into bitcoin until the price starts to relax... And for many starters this high price will be daunting. They think at the worth of the corporate shares which really rarely go beyond 500$.

We need the price for mBTC!

So does this mean 1000+ before new years?

BTC has never crashed.  It has corrected.  There's a difference. 

Haha Magical Internet Money. There are a million crappy altcoins and none of them chose this name?

Are you referring to localbitcoins? I can`t imagine many people who are just now finding out about bitcoin would be willing to meet strangers to exchange cash for magical Internet money, IMO. If there`s a good method aside from Coinbase, I`d like to be enlightened.

The dead cat bounce has already happened......that was sub $500 right back up to $750....now we trend lower for a bit. This is the expectation and believe me, any investor of balanced mind will have these text book expectations very much in mind when playing with a big doughball of capital that he is looking to increase in size, as opposed to decrease in size which is the last thing any speculator wants.

This is the text book investors expectation and this expectation en masse, will of course proceed to turn into self-fulfilling prophecy, in addition to the dynamics of those in profit, looking to lock in profits and of course late comers looking to minimise loses.

I was a bull up until yesterday evening. Bitcoin was at around $700. I stated in a previous post in some 'Bears FU! thread' (I can't link to it check it out cos the thread got deleted), that Bitcoin has now entered parabolic territory, and that I had sold, and was postponing anymore buying. I of course got the usual dog's abuse from the usual avarice craved rats only interested in having their own avarice driven bias confirmed, and I said:

"I will be right this time just like I was right last time"

I also insulted them and if any of those guys are reading this, I insult you again.,

F.U. I WAS RIGHT (AGAIN) AND U WERE WRONG!

Here's looking forward to some lower and more stable Bitcoin prices in the future where one can feel safe to use them for the odd online narcotics purchase once again.

Investing 201: Pick your entry point carefully.

Who would buy in to a falling market? We'll need either consolidation or a few days uptick to for the new money to jump in.

WTF?  That right there is investing 101.  Buy low, sell high.  Would you prefer to buy in at $900?  I don't know ANY investor that tries to buy a stock at its all-time high, LOL.

EH?

I know plenty places where I could plenty coins...it's just that I am not will to pay $500 for something which tomorrow will cost just $400.

Remember how facebook was already a part of everyones lives by then?

It takes weeks if not months for average person to invest larger amount of money. You went all in five days after you first heard of bitcoin?

Um, people hoping the much the same thing might happen again in a few months based on the track record of 2014. Like the enormous number of people who entered the market due to the press around the last bubble/crash back in April.

Maybe to some degree yes, but another major problem right now is the difficulty in obtaining coins. Coinbase and many other exchanges are out. Investing in stock is relatively straight forward, but are people willing to wait days for a bank account to be confirmed, followed by `sorry, we`re all out of coins, but you can still buy now and pay whatever the price is next week.`

You way overestimate people's tolerance...

Remember how everyone was stampeding to buy Facebook stock? It didn't matter it was overpriced.

Mention the words "internet" and "new" and you have a recipe for record setting highs.

Bitcoin: a popular (alpaca) sock

Right... the headlines will read, `bitcoin surges to record highs amidst congressional hearing; plummets 50% next day!`

Let`s pretend that the average person out there doesn`t spend hours on these message board every week and doesn`t have a good understanding of how the bitcoin market works. They`ll probably lose interest pretty quickly.

I`m not saying it can`t attract a few interested parties, but let`s not bullshit ourselves here...

Nobody watches CSPAN, but the fact that it happened will be in the news.

Fool!

Watch and learn 

Ahem... Bitcoin #1 top Google Trend worldwide yesterday:



Source: http://www.google.com/trends/ via http://www.reddit.com/r/Bitcoin/comments/1qxhnt/bitcoin_the_most_popular_search_term_today/

---

 (October 31 was the $27 apartment guy.)

Source: www.stats.grok.se/en/latest30/bitcoin

Yup, everyone watching CSPAN that wasn:t already invested in bitcoin (maybe 10 people...?  ) learned about it just in time to come online and witness the market crash. Or correction. Whatever you want to call it. I:m sure they:ll be real motivated to invest their hard earned money in it now 

Expectations built on fundamentals often fail to materialise within the expected timeframe, no doubt they eventually do materialise, but none the less it won't go as you expect it to.

Also, the market can have already assimilated this information meaning the current price is an accurate reflection of value in the current timeframe.

In other words, it sure as hell isn't as simple as you think it is.

People who will be smart to think that the price is low right now so its a good chance to buy. Who in the right mind would throw a big pile of cash at something that is at an all time high with headlines everywhere that the bubble is about to pop?

Goes both ways.

LOL.

What a load of old codswallop.

Who in their right mind is going to throw a big pile of cash at something that has just crashed from $900 to $500?

What country? USA?

Here as well. Not necessarily the most informed pieces of journalism though

You nailed it Patel.

That said, to process the influx of new verifications will take longer than usual... pushing it probably until the weekend or Monday.

I say around November 27, things will start climbing up again. This time it will penetrate $1,000!

I don't know about your country, but here Bitcoin is getting headline after headline in the news.

2 hours of airtime ... on CSPAN.

Honestly OP before yesterday how many hours of CSPAN did you watch in an average week?
How many hours do you think the masses were watching this week?

I don't think so, CSPAN is kinda niche. Not everyone watches it. I'd say critical mass is here for bitcoin. And 21,000,000 BTC should be sufficient for all of us. (don't tie this to Bill Gates)

Interesting perception, and I hope you are correct.   Very well may be.

I just can't stomach that we're hovering around $600 and China apparently is above $1,000.

There should be ONE EXCHANGE for the whole world, owned by no company.  

Bitcoin SHOULD have had an exchange built into it.

Exactly my thoughts.

Today and yesterday was the first time in history that there was about 2 hours of airtime regarding bitcoin for 2 straight days.

Many people learned about Bitcoin for the first time.

So look at it like this.

2 Days for verification
3 days for wire

You can bet that next week the price is going to skyrocket based on all of the attention that Bitcoin received yesterday and today

Consider this correction huge bear trap