Topic: The mother of all traps? - page 3. (Read 8143 times)
Assuming gold isn't overvalued and bitcoin isn't undervalued
It actually makes some sense that Bitcoin would be affected by Fed statements, because many BTC investors are also gold and silver investors. If your gold is going down and you need money, you might rather sell some of your more speculative investment (bitcoins) than part with your golden insurance. This is doubly true if you hold physical gold or silver, since trading physical around gets you eaten alive by the spread and fees.
Once Bernanke squeals "QE!" again, your gold is now rising so you don't worry as much about getting squeezed, so you can let your bitcoin bets ride. That means any Fed-based rise or fall in precious metals can be expected to be positively correlated with the BTC price.
Once Bernanke squeals "QE!" again, your gold is now rising so you don't worry as much about getting squeezed, so you can let your bitcoin bets ride. That means any Fed-based rise or fall in precious metals can be expected to be positively correlated with the BTC price.
Well enjoys the nice weather 
I have no idea who is doing it. However, I suspect the Bitcoin Hivemind is engaged in cognitive dissonance.
Just discovered this thread and LOL'd quite a bit.
This pushed me over the edge thanks EM.
I think everything will be fine just remember don't invest more than you can afford to lose. I like molecular's idea, failing to acknowledge that in December 2012 cost me early retirement.
I'll stick with bull trap for now and hold.
You should've listened to my intution from early November '12 ;-)
my intuition says: we're sitting on a rocket about to be ignited
my rational mind tries to find explanations for the intuition:
don't jump off
my rational mind tries to find explanations for the intuition:
- ECB Paper, ZeroHedge coverage / ... taps whole new reservoir of potential supporters and enemies, this might initiate wider public/academic discussion
- I see an above-average amount of newbs trickling in that seem to be quite educated and understanding already (not your typical gamer kid)
- Market turmoil ahead with the reward halving
- Long consolidation period has been going on
- Ongoing and increasing distrust of fiat money and banking system amongst the general population
- Bitcoin fundamentally rocksolid and more and more people "get it"
- All this taken together might push bitcoin beyond the next "critical mass" checkpoint of adoption / public awareness within the next 1-3 months.
- ...
- rocket ignition
don't jump off
Don't draw the wrong conclusions now, though. My intuition currently says it's going to be comparably boring for a couple of months. Probably best to step back a bit and enjoy summer.
I have no idea who is doing it. However, I suspect the Bitcoin Hivemind is engaged in cognitive dissonance.
Just discovered this thread and LOL'd quite a bit.
This pushed me over the edge thanks EM.
I think everything will be fine just remember don't invest more than you can afford to lose. I like molecular's idea, failing to acknowledge that in December 2012 cost me early retirement.
I'll stick with bull trap for now and hold.
And back down to $90, that was quick. 
I have no idea who is doing it.
I thought you were referencing the comment above about Bernanke's farts steering the entire global economy.
Just the financial economy.
Unfortunately, for most goods, we are stuck with the prices they set.
I have no idea who is doing it.
I thought you were referencing the comment above about Bernanke's farts steering the entire global economy.
Just the financial economy.
I have no idea who is doing it.
I thought you were referencing the comment above about Bernanke's farts steering the entire global economy.
I have no idea who is doing it. However, I suspect the Bitcoin Hivemind is engaged in cognitive dissonance.
Pump & Dump Inc.
You mean the Fed and the SIFIs?
Pump & Dump Inc.
even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?
whats the reason it went down so fast. NoneBitcoin drooped on June 17th because Ben Bernanke signalled he was going to reduce the Fed's monthly QE if the unemployment rate hit 7% (his statement was followed by a good jobs report and the market panicked). Gold and silver tanked too. The dollar rose.
Then yesterday he made it clear that the lifting of QE was a long way off in his opinion (and that was followed by a poor jobs report). Gold and silver rose and so did bitcoin. Dollar fell.
I think we have to conclude that some hedge funds are now dabbling in bitcoin to diversify their assets. And because they are used to liquid markets, they think nothing of dropping $2 million at a time - of course because the bitcoin market isn't that liquid, you get larger movements than you would with gold or silver.
this, my friend, makes sense.
even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?
whats the reason it went down so fast. NoneBitcoin drooped on June 17th because Ben Bernanke signalled he was going to reduce the Fed's monthly QE if the unemployment rate hit 7% (his statement was followed by a good jobs report and the market panicked). Gold and silver tanked too. The dollar rose.
Then yesterday he made it clear that the lifting of QE was a long way off in his opinion (and that was followed by a poor jobs report). Gold and silver rose and so did bitcoin. Dollar fell.
I think we have to conclude that some hedge funds are now dabbling in bitcoin to diversify their assets. And because they are used to liquid markets, they think nothing of dropping $2 million at a time - of course because the bitcoin market isn't that liquid, you get larger movements than you would with gold or silver.
It's just a hypothesis, something to think about. I brought it up to remind people that not all moves are speculative ones. All the assumptions about whales now having coins they will dump at the next opportunity might be just that: assumptions that may be wrong.
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
the fucking bitcoin train:
Epic bull trap confirmation
Train is on fire, not clear whether "fucking buy" or "fucking sell"
Guaranteed explosion in every direction
It's just a hypothesis, something to think about. I brought it up to remind people that not all moves are speculative ones. All the assumptions about whales now having coins they will dump at the next opportunity might be just that: assumptions that may be wrong.
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
the fucking bitcoin train:
Epic bull trap confirmation
Train is on fire, not clear whether "fucking buy" or "fucking sell"
It's just a hypothesis, something to think about. I brought it up to remind people that not all moves are speculative ones. All the assumptions about whales now having coins they will dump at the next opportunity might be just that: assumptions that may be wrong.
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
the fucking bitcoin train:
Epic bull trap confirmation
It's just a hypothesis, something to think about. I brought it up to remind people that not all moves are speculative ones. All the assumptions about whales now having coins they will dump at the next opportunity might be just that: assumptions that may be wrong.
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
Do you know that feeling.. when the earth is vibrating a little and you hear distant rattling? Oh the anticipation... your mind drifts away painting rosy pictures of milk and honey and such. Then something tremendously powerful pulls you back to reality and the next thing you see after regaining your composure is the backside the fucking bitcoin train.
Might not be that time yet, though
the fucking bitcoin train:
even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?
whats the reason it went down so fast. None
It is what most believe it is
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