Topic: The bottom is in. - page 2. (Read 3238 times)

Lol. Thanks for making me nearly shoot coffee out of my nose!

That is sad, we need some big positive news to drive BTC up...

The bottom might be really but there's nothing pointing to a trend reversal. Price can hover to 320-360 for a loooong time now.

I have 0 faith that we will see >450 this year.

Seem like the bottom is really over now, time to buy...

There was always problem early adopters, that will cripple Bitcoin forever ever.

you said on 5 october that we will bounce back to 200

where is your stupid prediction now?


miner aren't the problem

early adopter are, because they control a large amount

miner amount is fixed(and also tends to a periodical halving), they can't be never the problem get over it

$275 may have been the bottom as it is the .764 fib retracement level from the entire rally from $2 to $1163.

fuck me!

I was reading that in practically full agreement, and then I looked up, and it was fucking Ibian!

Exactly my interpretation of the huge volume ask walls ans the inexplicable appetite to eat up those walls.


That may well be the plan, but whether or not there is enough appetite in the market for another bull run anytime soon is quite another matter. Somehow, I feel we are at a very different psychological stage compared to any previous point in the Bitcoin market.

Nothing has changed about the fundamentals. Miners still have to sell coins to cover their expenses. 3600 coins are still created daily. That's a lot of sell pressure. Meanwhile, Average Joes still stay far away, due to the complexity, unsafety and lack of utility of BTC. Average Joes have safe, fast, cheap, reliable payment services, like credit cards. They don't need an unstable, incredibly slow, cumbersome, unsafe, expensive, uninsured payment system, still being beta tested after six years. Whales, early adopters and industry insiders know this. That's why they're getting rid of their coins.

And that's why Bitcoin will continue towards double digits, as soon as this particular dead cat bounce is over.

Please remember that every previous Bitcoin bubble was fueled by Willy, Markus and other Gox bots. Those bots are long gone, so there won't be any more rallies.

Interesting that bitstamp is higher price vs bitfinex and btc-e even after the bearwhale dump.  This shows there is a decent fiat stream running into bitstamp i'd agree with OP we finally have a bottom.

OP, thanks for sharing your vision.


Please explain your point of view, instead of just making an empy statement. I am intested in your arguments though.

A cat bouncing to 370 doesn't seem that dead to me!

The most stupid theory I've ever heard.

Like I've said previously, the dead cat will now bounce to 370-380, before crashing to sub 250. All of this will happen in less than a fortnight.

I hope you're right

Sounds about right. But honey badger don't care about your reasonable analysis. We shall see.

So this is my interpretation of recent events.

It seems obvious that most trading happens outside exchanges, given the actual transfers on the blockchain vs the volume on exchanges. Likewise that most weak hands were gone months ago. So what happened was that someone with a lot of money pushed the price down on exchanges and bought back outside of them. This would result in an increasing number of coins at little to no expense. This theory is reinforced by the fact that the top 100 btc addresses is increasing over time.

With the price approaching both psychological limits (previous ATH) and the cost of actually producing a coin in electricity, this had to stop eventually. But market sentiment was bad due to the ever-decreasing price so something was needed to regain confidence in the market. That's what the huge wall on stamp that got eaten in hours was for. Whoever was dumping the price is the same person or group who put up the wall, and who bought back the majority of it. The entire point of that exercise was to give the idea that there was huge demand that had just been waiting for the right time. The costs involved were likely to be insignificant in the grand scheme, and in any case necessary. The cost of doing business.

The next step is to slowly pump the price, making it look organic, until momentum eventually takes over and others pump the price to the next ATH.

It's up from here.