Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23631. (Read 26712846 times)

I sold my bitcoins on 2013 December, when the price was about 1060$. After that, I have only bought bitcoin by holding it no more then 12h tops.
I just haven't seen a reason that would cause a strong enough rise to be sustained. I think that the crypto market is highly inefficient, and the majority of the players are dumb and inexperienced.

I believe that there would have been a proper trend reversal in 2014 Q3, if the market would have dropped to around 200$ in Q1 and would have rested there till Q3, and then there would have been enough force to push the rise back into orbit. The fake reversals that we have seen here, have only made the market weaker. For instance, if the price would have stayed at 200$ for the first part of 2014, then it would have slowed down mining expansion and that would have meant less cost for the network and less selling pressure. Biggest buyers of coin jumped in too early and only exhausted their resources in paying the overheated and senseless mining network.
Now, the rich enthusiasts are out of resources or enthusiasm and because there are even more mined accumulated coins waiting to be sold, the selling pressure is even higher then before to push through.
Bitcoin as an investment went to hell, because people couldn't keep a cool head and tried to push BTC up too early. Too much of "if we believe it enough, then anything can happen!!!" attitude will screw things up like that.

Looks like we are at euphoria stage of bear market.

plus if it falls below 100, most likely an alt will take over before another btc bubble

it is slowly dying until Ethereum comes out, coincidence ?

There's nothing magic about $50+ making it the absolute bottom.

Just because it stopped around $50 in April 2013 doesn't mean it will again.

There's a whole different bunch of people playing the game today.

Bitfinex

Bitstamp

Explanation

even at capitulation, there will be denial

Correct, I see it in myself as well.

I am afraid I concur with your assessment.

Let me guess, you are wearing a placard saying, 'the end of the world is nigh (sell bitcoin)'?

Slowly switching from denial to fear. Couple of weeks ago, denial was the dominant sentiment, now we are also seeing fear, with only some still holding on to denial.

Even a cursory glance at the chart shows a complete retracement of the earlier dump on finex and stamp.

About 80% bearish posts per page, excellent.
Soon™

This is what you call a frustrated bull. Trying to give the impression that the coin is pumping. We'll meet at 250, you abortion!

Bitfinex

Bitstamp

Explanation

That's normal behaviour for a pump and dump alt coin.

I predict early 2016 at this point. Unless they have to re-file yet again.

Price is jumping around super fast.

Have you read the GLD prospectus?

PS. I suppose you view those funds as good things.  Well, I have a very negative opinion of them: they are trying to sell bitcoins as 'safe fabulous investments' to people who do not understand what bitcoin is, and therefore do not understand the risk.

In fact, I believe that the funds are even riskier than bitcoin itself.  See SMBIT suspension of redemptions (withdrawals).  Have you read the "risks" section of the Winkles' filing?

Still just a pretty pathetic 3000 coins to 300.