Hmm.. well spotted theory.
But why they would want to dump it for fiat, and in the exchanges.
edit.: could they be raising fiat for some kind of funding round from institutional inv. for those money to be seen in they balance sheets?
Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 145. (Read 907212 times)
The recent drop from 620 USD coincides with the Ethereum IPO. The BTC that were traded for ether were subsequently sold for fiat. It is about the right amount of BTC and with a few hours delay. Just a theory.
What if it breaks? 
What are the generally accepted long term channels at the moment?
What are the generally accepted long term channels at the moment?
It is generally accepted that you should never sell your bitcoins for anything less than a price, which is multiple times of the ATH of the prior boom.
- If Bitcoin is in its growth channel, and you panic sell in the bottom, it will cost you most of your bitcoins when you panic buy at 5-20x higher after realizing you were wrong. (If you panic buy threshold is lower, you end up always buying high and selling low, and diluting your holdings.)
- If it it destroyed, you have no way knowing it and being able to salvage the high point of your value. Salvaging a low point, is meaningless when the same outcome in fiat terms can be achieved by selling a few %-points more in the previous boom.
it's almost august and a lot of people are on vacation, so easier to manipulate the market
i would look for the next big uptrend to form in the next 2 months, definitely before labor day things should start to shift
well that is my crystal ball/gut feeling analysis at least... and btw I did predict that bitcoin would go steadily down for 6 -9 months following december high.
Taariq and Ron can quote me on that one.
i would look for the next big uptrend to form in the next 2 months, definitely before labor day things should start to shift
well that is my crystal ball/gut feeling analysis at least... and btw I did predict that bitcoin would go steadily down for 6 -9 months following december high.
Taariq and Ron can quote me on that one.
Yeah, when you're looking at a 6 month or 1 year chart, everything looks so simple and clear. Sometimes those 'tiny' movements like today decide about bitcoins trend or fate, though. And the drop today can now be seen on the 1m chart. I don't like that...
it's almost august and a lot of people are on vacation, so easier to manipulate the market
i would look for the next big uptrend to form in the next 2 months, definitely before labor day things should start to shift
well that is my crystal ball/gut feeling analysis at least... and btw I did predict that bitcoin would go steadily down for 6 -9 months following december high.
Taariq and Ron can quote me on that one.
i would look for the next big uptrend to form in the next 2 months, definitely before labor day things should start to shift
well that is my crystal ball/gut feeling analysis at least... and btw I did predict that bitcoin would go steadily down for 6 -9 months following december high.
Taariq and Ron can quote me on that one.
What if it breaks?
What are the generally accepted long term channels at the moment?
What are the generally accepted long term channels at the moment?
It can never break given you understand and fully trust Bitcoin. It can only break if I'm completely wrong in my analysis of Bitcoin. I'm seldom wrong and hope this is not one of those occasions.
Can I take your word for it?
I like coming to this thread as it sort of calms my nerves and sheds light on the positive side of things. I don't want to hear all those bears back in the regular Wall Observer in times like these
I have put a lot of money where my mouth is and would seriously hurt if Bitcoin went to zero. Actions speak louder than words. Still, no guarantees though
What if it breaks?
What are the generally accepted long term channels at the moment?
What are the generally accepted long term channels at the moment?
It can never break given you understand and fully trust Bitcoin. It can only break if I'm completely wrong in my analysis of Bitcoin. I'm seldom wrong and hope this is not one of those occasions.
Can I take your word for it?
I like coming to this thread as it sort of calms my nerves and sheds light on the positive side of things. I don't want to hear all those bears back in the regular Wall Observer in times like these
It looks like we broke that long term exponential channel.
very bad then? hasnt that happened before past bubbles?
Who knows - I would bet at least on a quick, but rather deep flash crash.
It happened in 2011 - but on a strong down trend - so it resulted in an even stronger down move.
Indeed, recoil time! The spring is being pushed in to the max!
What if it breaks?
What are the generally accepted long term channels at the moment?
It can never break given you understand and fully trust Bitcoin. It can only break if I'm completely wrong in my analysis of Bitcoin. I'm seldom wrong and hope this is not one of those occasions.
It looks like we broke that long term exponential channel.
very bad then? hasnt that happened before past bubbles?
Who knows - I would bet at least on a quick, but rather deep flash crash.
It happened in 2011 - but on a strong down trend - so it resulted in an even stronger down move.
Indeed, recoil time! The spring is being pushed in to the max!
What if it breaks?
What are the generally accepted long term channels at the moment?
It looks like we broke that long term exponential channel.
very bad then? hasnt that happened before past bubbles?
Who knows - I would bet at least on a quick, but rather deep flash crash.
It happened in 2011 - but on a strong down trend - so it resulted in an even stronger down move. But now it is not yet definitive.
It looks like we broke that long term exponential channel.
very bad then? hasnt that happened before past bubbles?
It looks like we broke that long term exponential channel.
I'll just pose this question here and in the regular FUD Wall Observer
Quick question: We have some decent support at 605 on Stamp. Will it hold or will we eat right through that?
Quick question: We have some decent support at 605 on Stamp. Will it hold or will we eat right through that?
It cannot it's something completely different. However, it is a nice example of exponential growth that was not based on air but one of the best corporations in the world. That's all it is, an example of why exponential growth is not necessarily hokum.
rpietila, i've been commenting this with colleages and they all agree that this chart of the Microsoft price evolution isn't equiparable to the possible Bitcoin evolution because they say you can't compare a private enterprise like Microsoft with Bitcoin which intends to be a currency a number of reasons... I could go on buy I want to ask why you think this graph can be compared with the BTC possible future:
I'm bullish and patient for both BTC and XMR. The only reason is I couldn't fill up my stash yet.
I don't complain if we hang around 3-digits until the end of this year.
I don't complain if we hang around 3-digits until the end of this year.
Im holding my 60 XMR like there's no tomorrow. I think there's no way the new ceiling is going to be anywhere to the current price. I have seen this happen a lot of times in the few legitimate altcoins as they evolve on price. One of the exceptions being Namecoin tho. Not amussed at how that's turning out. I was about to invest and looking back at it it seems like it was an insane peak that's now deflating.
I don't like this a tiny bit. Bid and ask sums have shown the opposite trend to the may consolidation. There is no reason to expect the breakout will be in the same direction.
The price is a function of the economy, and hardly can we say that Bitcoin's utility, adoption, etc. are in a downward trend. The price, however, is in the low end of the trendline channel, exactly as it was in December-12 or September-13. Based on this, any sustained decline from the current levels defies gravity.
Manipulating bid/ask is trivial for the entities that steer Bitcoin price (and I have no reason to believe such entities would not exist). A last shakeoff is something that might happen sparked by an event similar to the Silkroad(1) bust in October 3, 2013. But thinking that a flashcrash is required to ignite the next rally would be a little superstitious.
I don't like this a tiny bit. Bid and ask sums have shown the opposite trend to the may consolidation. There is no reason to expect the breakout will be in the same direction.
6 new hedge funds look to gain exposure to bitcoin market. http://www.coindesk.com/6-new-hedge-funds-seeking-bitcoin-returns/
Violent reaction? That sounds good!
For those of us that have been through a couple "bubbles" we now how that feels! It is crazy!!!
For those of us that have been through a couple "bubbles" we now how that feels! It is crazy!!!
It's always an amazing ride, but i'm not very productive during bubbles (I've seen the last 2).
All I do is check charts, count my money, draw lines, post smileys, tell all my friends how I will be a millionaire within a few years and dream about anarchy
To the people who never saw it happen, it's just surreal. it starts with some wild swings passing the all time high. That fact already is fantastic. All time highs that are broken is "mind blown". After that you can see your money gain 50% in matter of days, pullbacks of 25% or more. sometimes you money can double in a few hours
calling it "crazy" is an understatement. It's inimaginable if you never felt it
edit: I remember I went to the hairdresser and came back home. Told my dad I "earned" 4000 EUR in those 30 min
You should have seen the look on his face
It is hard not to be glued to the computer during the quick rise in price. I would take a shower and then afterwards look at the charts and say, "Wow. I just made $100 taking a quick shower!"
Of course, as a holder, much of those gains were lost. 
Easy come, easy go I guess. Waking up to a huge price increase a couple of weeks in a row.
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