Topic: September and October will be eventful. - page 5. (Read 10403 times)
Close but I think maybe a bit more rally followed by sideways for two to three months. Perhaps a panic dip at the end just to flush out a few remaining week hands and then the panic buying ensues.
sr. member
Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.
I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.
Look at the daily chart right now. Only during 11 days ever the price was higher than it is now. Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre. On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.
Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.
I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.
Look at the daily chart right now. Only during 11 days ever the price was higher than it is now. Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre. On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.
Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.
You are right.
However your post is primed to trigger those emotions as it is basically a victory song for the buy and hold strategy. A strategy that at todays price indeed proved to be a better one for most.
I must admit I start to feel the fear myself. Only a month ago my trading strategy came out way ahead of a buy and hold, but now it's equal again.
Was it all for nothing? Will I miss the train?
You think yes. I know not. I kept some, I sold some, and statistically the chances are in fact much higher that a collapse below $100 will happen again before the end of the year.
Popcorn - and - fiat ready
Seriously!?
The real world is a lot different from what you think it is. I do not want to offend you, but what is quoted above is just so not true, it hurts. To clarify, I do not trade at all, but most trades out there are driven by two simple emotions: fear and greed. In Bitcoin even more so than in other markets.
The real world is a lot different from what you think it is. I do not want to offend you, but what is quoted above is just so not true, it hurts. To clarify, I do not trade at all, but most trades out there are driven by two simple emotions: fear and greed. In Bitcoin even more so than in other markets.
Who trades with fear and greed? If you don't trade yourself, how would you know?
You only trade with money you can freely lose, so what would you be afraid of?
I'm trading bitcoins, and I am not greedy, I have a strategy with "take profits" and "stop loss". I don't change it because I feel it right to change it
I don't think the discussion is about YOU, but the market of traders as a whole. They trade on greed and fear (the majority).
This seems to be the prevalent explanation of recent rises, however I don't see how this goes along with rises on other exchanges? If gox withdrawal is the driving force shouldn't we see the spread increase? Rather it seems bitstamp if closing in (percent-wise)
1 week ago, the difference between mt.gox and bitstamp was 10 usd.
Currently, it is 15.5 usd. So, the gap is increasing.
Mt.gox is still, somehow, a "reference", but it will change soon I guess.
And I think that the recent increase in price will be inverted, after everyone withdraw his btc from mt.gox, and people start understanding that current price is overrated.
This seems to be the prevalent explanation of recent rises, however I don't see how this goes along with rises on other exchanges? If gox withdrawal is the driving force shouldn't we see the spread increase? Rather it seems bitstamp if closing in (percent-wise)
Seriously!?
The real world is a lot different from what you think it is. I do not want to offend you, but what is quoted above is just so not true, it hurts. To clarify, I do not trade at all, but most trades out there are driven by two simple emotions: fear and greed. In Bitcoin even more so than in other markets.
The real world is a lot different from what you think it is. I do not want to offend you, but what is quoted above is just so not true, it hurts. To clarify, I do not trade at all, but most trades out there are driven by two simple emotions: fear and greed. In Bitcoin even more so than in other markets.
Who trades with fear and greed? If you don't trade yourself, how would you know?
You only trade with money you can freely lose, so what would you be afraid of?
I'm trading bitcoins, and I am not greedy, I have a strategy with "take profits" and "stop loss". I don't change it because I feel it right to change it
(stocked up on Popcorn) 
If someone expects the price to drop, he will never buy at loss.
You don't trade with feelings or emotions. You trade with a strategy.
And I think that the recent increase in price will be inverted, after everyone withdraw his btc from mt.gox, and people start understanding that current price is overrated.
You don't trade with feelings or emotions. You trade with a strategy.
And I think that the recent increase in price will be inverted, after everyone withdraw his btc from mt.gox, and people start understanding that current price is overrated.
We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.
I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time, they will have to buy back at higher price.
Look at the chart right now. Only during 11 days ever the price was higher than it is now. Only during 5 days the price was above 141$ for most of the day and the volume during those days was rather mediocre. On the other hand days, that marked bottom prices had huge volume. Everyone, but those who sold coins in history of Bitcoin but in those 11 days above 141$ with intention to buy back (and still has not bought) is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.
Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at price below of all time high. Buy popcorn. September and October will be eventful.
I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time, they will have to buy back at higher price.
Look at the chart right now. Only during 11 days ever the price was higher than it is now. Only during 5 days the price was above 141$ for most of the day and the volume during those days was rather mediocre. On the other hand days, that marked bottom prices had huge volume. Everyone, but those who sold coins in history of Bitcoin but in those 11 days above 141$ with intention to buy back (and still has not bought) is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.
Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at price below of all time high. Buy popcorn. September and October will be eventful.
this +1
.
Jump to: