Topic: Survey time! Was 340 the final bottom? - page 3. (Read 4493 times)
I wouldn't be surprised if we dip once more to the ~300 range. I still don't think the ride is over in the short-term yet. Heck, I look at an exponential price chart and even 250 looks reasonable.
EDIT: And thanks for the charts, I hadn't noticed today's green candle has as much volume as yesterday's red one, which makes it different from the previous bottoms you are comparing it to. 
because past bottoms in the current downtrend we terminated by seller exhaustion. this was terminated by bullish events.
Interesting poll results, especially when you know that the majority is always wrong...
Keep in mind that this is a bitcoin forum. People are generally bullish on bitcoin here. Imagine the same poll on yahoo.finance for example. Do you think we get the same results?How does surveying people who are not invested in bitcoin help the thread's cause?
That being said, I think the results are indeed a bit skewed, no matter what, since everyone here is a long-term bitbull.
Interesting poll results, especially when you know that the majority is always wrong...
Keep in mind that this is a bitcoin forum. People are generally bullish on bitcoin here. Imagine the same poll on yahoo.finance for example. Do you think we get the same results?How does surveying people who are not invested in bitcoin help the thread's cause?
That being said, I think the results are indeed a bit skewed, no matter what, since everyone here is a long-term bitbull.
Interesting poll results, especially when you know that the majority is always wrong...
Keep in mind that this is a bitcoin forum. People are generally bullish on bitcoin here. Imagine the same poll on yahoo.finance for example. Do you think we get the same results?
Oh sad, I cannot vote. Yes I give it a 70% chance that it was the bottom considering the price now. If the price was sitting under 400 for the past day, then I would say No, it's going lower, but since it climbed up to 420-440 and has held that range, I think it is unlikely we'll retest 340-350 (unless of course, another HUGE piece of bad news ... like Jesus Christ sells all his bitcoin, or something).
We could re-test 340 and maybe go a little lower.
If you are not "almost all in" at ~$351, then you are doing something wrong.
Buy BTC...
If you are not "almost all in" at ~$351, then you are doing something wrong.
Buy BTC...
Fine.. fine FINE, GOING TO THE EXCHANGE TONIGHT
Suddenly the poll has no importance?
So far 2:1 say it was the bottom.
Do you think generally optimistic hodling bulls are majority in speculation forum?
So far 2:1 say it was the bottom.
Do you think generally optimistic hodling bulls are majority in speculation forum?
>> but the rebound would be ferocious.
Nailed it. I'd say we had a pretty quick rebound from 340.
Nailed it. I'd say we had a pretty quick rebound from 340.
Interesting poll results, especially when you know that the majority is always wrong...
I would dare say that the core fear driving all Chinese speculators or exchange owners was whether the PBOC was going to outlaw the exchanges themselves.
If the exchanges are not banned, then Bitcoin actually does have a chance in China.
If the exchanges are not banned, then Bitcoin actually does have a chance in China.
I think the capitulation is over and we have seen the bottom. Most of the weak hands have been shaken off yesterday and from now on the market is slowly building up momentum. To crash lower than 340$ again would require many whales to manipulate the market at the same time, or some really bad news to pop up unexpectedly. If I wasn't already all-in, I'd definitely go all-in NOW.
Sorry, I didn't finish editing my previous post.
No, I am not counting Huobi et al, their volume is fake. I am combining Bitstamp, BTC-e and Bitfinex and adding 20kBTC for good measure of the mid-sized exchanges like BTC-China, Kraken, etc. Added, they had 160kBTC 24-hour volume at the $460 bottom and 200k now, which has been sustained for almost a day, making it more like 300kBTC.
EDIT: And thanks for the charts, I hadn't noticed today's green candle has as much volume as yesterday's red one, which makes it different from the previous bottoms you are comparing it to.
No, I am not counting Huobi et al, their volume is fake. I am combining Bitstamp, BTC-e and Bitfinex and adding 20kBTC for good measure of the mid-sized exchanges like BTC-China, Kraken, etc. Added, they had 160kBTC 24-hour volume at the $460 bottom and 200k now, which has been sustained for almost a day, making it more like 300kBTC.
EDIT: And thanks for the charts, I hadn't noticed today's green candle has as much volume as yesterday's red one, which makes it different from the previous bottoms you are comparing it to.
Okay, I understand now. I still see a decline in volume (good view imo via short volume MA on tradingview) , but I guess time will tell
We could re-test 340 and maybe go a little lower.
If you are not "almost all in" at ~$351, then you are doing something wrong.
Buy BTC...
If you are not "almost all in" at ~$351, then you are doing something wrong.
Buy BTC...
Of course not. It may be the local bottom of the second leg (if it got truncated) of wave C, but the third leg (and most powerful) is yet to come.
Just look at the volume, it's not even close to what a final bottom should look like. And the ask sum on Bitstamp is too small for the final bottom.
When the piglets will squeal 'Bitcoin is dead!', 'it's going to zero!', then you'll know that the final bottom is near.
Dude, 300kBTC changed hands in 36 hours. Have you noticed the market is fragmented with 3 big players and several others with significant volume? http://bitcoincharts.com/markets/Just look at the volume, it's not even close to what a final bottom should look like. And the ask sum on Bitstamp is too small for the final bottom.
When the piglets will squeal 'Bitcoin is dead!', 'it's going to zero!', then you'll know that the final bottom is near.
Days with 24-hour volume higher than 200kBTC were scarce in MtGox monopoly time. Noticeably higher volume than in previous bottom: http://bitcoincharts.com/charts/mtgoxUSD#czsg2010-08-01zeg2013-03-01ztgSzm1g10zm2g25zvzl
The volume yesterday was noticeably higher than in previous, $460 bottom. Therefore, volume-wise we are at the equivalent to Nov'11. There, I said it.
"300k BTC changed hands"?
"Higher volume than previous bottom"?
Oh, you're counting Chinese volume 1:1. I wouldn't do that. Here's what I think matters, volume wise:
No, I am not counting Huobi et al, their volume is fake. I am combining Bitstamp, BTC-e and Bitfinex and adding 20kBTC for good measure of the mid-sized exchanges like BTC-China, Kraken, etc. Added, they had 160kBTC 24-hour volume at the $460 bottom and 200k now, which has been sustained for almost a day, making it more like 300kBTC.
EDIT: And thanks for the charts, I hadn't noticed today's green candle has as much volume as yesterday's red one, which makes it different from the previous bottoms you are comparing it to.
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2013-03-11zeg2013-08-12ztgMzm1g10zm2g25zv
In retrospect of the april bubble, we can notice how the volume peaked during the reversal, and then subsequently decreased as time went by. If we factor in that a lot of people have lost confidence in exchanges, and that by now, most of the weak hands have been shaken off their coins, I simply don't see how we could have days with more than 100kBTC traded on stamp or btc-e anymore, at least for the short-term.
In retrospect of the april bubble, we can notice how the volume peaked during the reversal, and then subsequently decreased as time went by. If we factor in that a lot of people have lost confidence in exchanges, and that by now, most of the weak hands have been shaken off their coins, I simply don't see how we could have days with more than 100kBTC traded on stamp or btc-e anymore, at least for the short-term.
hunting for bears today and cant find any can you point me to them?
we got a few laying the grass
hunting for bears today and cant find any can you point me to them?
No blood in the streets.
Still bearish and not bottom.
Still bearish and not bottom.
Anything in $3xx is a great deal to pick up those coins...its bottomed out nicely and expect a run up sooner or later. Now is the time to buy back in!
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