Topic: Price rise after the weekend? - page 2. (Read 2816 times)

I like your posts smoothie.  But we are falling much further.  I love your convictions but no, I'm not speaking too soon.  Quote me please.

I posted before the bubble burst.  And I am posting now.

Edit: I believe in crypto.  It's the future.  It's just not hit bottom yet.  Now matter how much people would like it to be.

Cheers.

Well if you're mindset is short term, maybe you are right.

But in the long term, if you look back at 2011 until now people thought the bubble burst in june 2011. Now we are at 300%+ from the top there.

So, speaking too soon?

Do you believe it's a series of purely market-driven sell-offs and the killer lag on Gox doesn't compound it?

A weekend dip? lol...

We just watched a bubble half-way burst.  It's falling more.  I love people still in denial.

Some would have you believe the correction has only just begun

Edited to include my opinion (rather than that of others)

IMO the (relatively) stabilising price is indicative of buyers and sellers in 'wait & see' mode. This is for a good reason. No one knows where we're going from $100. Bear and bull chants are almost in perfect equillibrium (using this forum and market depth as a proxy)

My view is that from here, any sustained price action below $80 will send us further down and it would take $150 and higher for us to enter rally mode again (no science or fancy charts, just my opinion)

I've taken a neutral-ish position at the moment. When the crash happened I sent some money to the exchange and did some swing trading, netting me some profit (the profit is mostly held as BTC)

I am using my BTC profit as a hedge in case the price goes up . The other 80% of holdings, I am keeping cash for scooping up cheap coins if the price falls. Should that happen, I plan to do most of my buying in at $60 and below.

I guess that makes me short term bearish (but long term bull for sure).

I say long term bull because I have a large holding of BTC (offline wallet, not used for trading) that I will hold for at least 5-10 years unless the bitcoin experiment fails. I genuinely believe the experiment will succeed (time horizon intentionally omitted) one day.

I think we will head lower before things pick up again but I do NOT think the doomsday scenario some bears here are talking about will occur. I'm guessing a maximum bottom of $50, some sideways action, and we're back up again, albeit at a reduced rate compared to the good ol' days of not too long ago

Well if history is anything to go by, the price usually rises after a weekend dip.

Will we see the same pattern this week now that the correction looks to be over?