See, people keeps saying that, but no one really qualifies what they mean.
Here's what I see:
BTC payment services getting hacked (bitinstant), BTC wallet services being hacked, Lag on the exchanges grinding trading to a halt and killing liquidity, an overinflated price driven by media hype and people looking to get rich quick, an overinflated blockchain that may or may not contain child porn (or links to child porn), an economy driven primarily by drugs and grey market goods, etc, etc
....and thats just the tip of the iceburg.
Frankly, the fundamentals look like shit.
Topic: The Bear Market is officially...OFF?!? - page 21. (Read 29279 times)
I don't know, the bubbles look fairly similar to me on the charts (I do see the pattern you are talking about, though) ...maybe it will go differently this time, but I personally don't think so.
2011
2013
2011
2013
understand the fundamentals - graphs provide no insight.
looks like all markets are down today, not just bitcoin.
I don't know.
I'm pretty happy with LTC doubling in price.
Looks like it's down ~10% today
down for the week, but still up for the year. 
Yeah, but for how long?
looks like all markets are down today, not just bitcoin.
I don't know.
I'm pretty happy with LTC doubling in price.
looks like all markets are down today, not just bitcoin.
I don't think there is any correlation, though. S&P hit its all time high yesterday while BTC has been trending down for over a week.
down for the week, but still up for the year.
looks like all markets are down today, not just bitcoin.
I don't think there is any correlation, though. S&P hit its all time high yesterday while BTC has been trending down for over a week.
Green. Red... Green... Red... green... red...
I swear this shit always happens the day before I get my BTC, ha ha. It's all about staying close to the exchanges.
We may have hit the bottom, at anyrate we might see another rally or dead cat bounce. After that I have no clue.
I swear this shit always happens the day before I get my BTC, ha ha. It's all about staying close to the exchanges.
We may have hit the bottom, at anyrate we might see another rally or dead cat bounce. After that I have no clue.
So would that be the resurrected cat that is now going to die again bounce?
I got no clue. But I've seen some shit in my lifetime. I don't really know. Nothing to do but watch this storm and think of the best next move.
Green. Red... Green... Red... green... red...
I swear this shit always happens the day before I get my BTC, ha ha. It's all about staying close to the exchanges.
We may have hit the bottom, at anyrate we might see another rally or dead cat bounce. After that I have no clue.
I swear this shit always happens the day before I get my BTC, ha ha. It's all about staying close to the exchanges.
We may have hit the bottom, at anyrate we might see another rally or dead cat bounce. After that I have no clue.
So would that be the resurrected cat that is now going to die again bounce?
MY BODY IS READY
looks like all markets are down today, not just bitcoin.
I don't know, the bubbles look fairly similar to me on the charts (I do see the pattern you are talking about, though) ...maybe it will go differently this time, but I personally don't think so.
2011
2013
2011
2013
it can't be exactly like 2011
No, but 2011 is certainly a decent road map on how this thing is going to play out.
i really disagree:
the June '11 event cannot be compared to this. you can be a bear, but not for this reason.
how can this model account for the recent run-up to $165? nothing like that occurred after the $33 peak, and the proportions are entirely wrong: the run-up was much shorter, and the crash was much longer.
The run-up to $165 can be explained by the recent sentiment we've had of "It's different this time!". That caused a feedback-loop of more and more people thinking that things are different now, running up the price. Once the market comes to the realization that things really aren't different this time, that's when things will stop being different.how can this model account for the recent run-up to $165? nothing like that occurred after the $33 peak, and the proportions are entirely wrong: the run-up was much shorter, and the crash was much longer.
this quote was a little ambiguous. i meant the run-up from the last ATH to $266. the first bit about $165 was pretext.
the run-up was completely different (1000% over months?), and the crash was completely different (80% in days?). this is a completely different price pattern. almost like a reverse-June-bubble, who's run-up was as short as our crash, and whose crash was as long as our run-up.
The only thing I want is that is that the price doesn't tank as far that the exchanges contemplate running with my trading capital....
QFT we could be sitting here at MTGox or BTC-E with our pretty numbers on the screen and there is absolutely no guarantee they will be solvent / able to pay out who the hell knows how much champagne they are all chugging back there in the server room these days!
Why so humble, little Bull? According to the great Supernode Advisor we will hit 100000usd by the end of this year.
According to the great Supernode Advisor we will hit 100000usd by the end of this year.I wouldn't rule out such possibility...
Me neither, I just try to keep my perspective.
Mr. Supernode seems to be engaged in gathering as much BTC as possible, basically to reduce the amount of circulating Coins.
At least that's what I read between the lines.
If he and his partners manage to achieve their goals it COULD be possible that BTC price will rise extremely.
This plan will only work out if the demand for BTC rises significantly. I think that is part of his plan,
to raise demand for BTC and through "selling" it to his customers as just another commodity.
Maybe some big investors join the party..nobody knows for sure if this will happen.
Of course it is very appealing to think that way. Who does not want to be rich?
People are very open for these scenarios and sometimes our decisions are guided not by rational thought but by wishful thinking.
I'd love to see BTC hit 100000 $ but I refuse to follow this extremely confident speculation at the moment.
A lot of things have to happen before we can expect this scenario, and a lot of things must not happen.
We'll see if this prediction withstands the test of time - I have doubts.
That doesn't mean I think BTC will crash, either. BTC Price at the end of the year is not predictable from my point of view.
The only thing I want is that is that the price doesn't tank as far that the exchanges contemplate running with my trading capital....
To me this says we may be seeing the beginning of the same type of slow steady slide down we saw in 2011.
Maybe - it certainly seems that way. But what most people outside of bitcoin community herd in 2011 was that bitcoin was hacked or the biggest bitcoin exchange was hacked. Considering that this was only one year or so after bitcoin came to be, most people would have written bitcoin off their mind and consider it to be too risky and unfeasable.
Now in 2013, I think bitcoin has gained a lot of credibility and therefore interest. Many people have seen its potential. Many events can dramatically change the field for the better.
So while 2011 made people write it off. 2013 made people take real interest in it. For those reasons, I don't think we'll see 37 or even 50. 70-80 maybe.
That said, unless one of these events does dramatically change the field, i.e. another cyprus, purchasable with credit/debit card instantly (so some mainstream forex exchange adopts it), incorporated into the system of money movers, then we might go even lower than 37.
it can't be exactly like 2011
No, but 2011 is certainly a decent road map on how this thing is going to play out.
Why so humble, little Bull? According to the great Supernode Advisor we will hit 100000usd by the end of this year.
According to the great Supernode Advisor we will hit 100000usd by the end of this year.I wouldn't rule out such possibility...
It's like 2011 all over again. 
I honestly think it is.
it can't be exactly like 2011, because everyone knows exactly what happened in 2011.
that being said, it's also completely different, as i have argued many times this month.
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