"mass waves of panic sell-offs occurred" and "much panic, the speculation sub-forum was buzzing with talk of doom and gloom"
That was nothing compared with what's coming during the next weeks.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25514. (Read 26607514 times)
September 28, 2014, 07:30:05 PM
Oh Adam, you disappoint me... I named you a honorary bear, and you say:
"mass waves of panic sell-offs occurred" and "much panic, the speculation sub-forum was buzzing with talk of doom and gloom"
That was nothing compared with what's coming during the next weeks.
"mass waves of panic sell-offs occurred" and "much panic, the speculation sub-forum was buzzing with talk of doom and gloom"
That was nothing compared with what's coming during the next weeks.
September 28, 2014, 07:25:11 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
You mean like all the amazing panic buying that happened this year with the announcements of Overstock, NewEgg, Dell, Expedia, Square, Wikipedia, United Way, and now PayPal???
It's getting pretty obvious that good news is not creating a panic buying stampede. In fact, I FEAR one more big good news announcement this year and PRAY that it never happens.
Yup. But he prefers to ignore those small details.
The price will explode any minute now guys.
September 28, 2014, 07:24:14 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
Nobody is accumulating.
I'm pretty sure a lot of people are accumulating. Myself included...
September 28, 2014, 07:23:10 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
Nobody is accumulating.
September 28, 2014, 07:09:52 PM
Someone is working overtime to hold $375. Hope they have a few million on hand.
... or it could be 10 thousand someone's who've decided it is a good entry point, betting against the crowd (sentiment reversal) is the biggest risk at these levels
Think about how stupid this is though. You don't just need buyers at 375, you need them at 400 and above as well. You'll also need them at 500, 600, 700, and so on.
... and on and on and on, you'll also need sellers at those levels? think about how stupid that is? you just described sentiment and tried to refute it in the same sentence
Dude just no. There's nearly a whole 10 months of future sellers now. These are the people feeling that they made a mistake, not buying any more, and are just waiting for bitcoin to hit their price point again so they can get the fk out.
September 28, 2014, 07:08:17 PM
I'm more than ready to say "Oh well, bitcoin didn't work out, that's a shame." But I just doubt that I'm ever gonna need to.
September 28, 2014, 07:07:07 PM
Someone is working overtime to hold $375. Hope they have a few million on hand.
... or it could be 10 thousand someone's who've decided it is a good entry point, betting against the crowd (sentiment reversal) is the biggest risk at these levels
Think about how stupid this is though. You don't just need buyers at 375, you need them at 400 and above as well. You'll also need them at 500, 600, 700, and so on.
September 28, 2014, 07:03:45 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
Got any more stories, Bulltroll ?
That's been the M.O. all year - buy buy buy, train is leaving, ATH around the corner, endless bla bla bla. Then, when it doesnt pan out..... wip out conspiracy theories of bankster/bilderberg suppression. Classic slimy sales tactic, win both ways.
Hey, i got a theory also.....Nobody gives a flying whales penis about bitcoin !
September 28, 2014, 07:03:35 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
I honestly don't think more adoption (IE ebay integrating bitcoin) will really help increase bitcoin prices really. I mean without a discount or easy of use or some other benefit there is no reason for people to convert their fiat into bitcoins and then make the purchase in bitcoins. The more merchant adoption will help people spend their coins easier and thus creating a selling pressure due to increased supply on the exchanges.
In order for price to go up we need something different, we need more demand. Demand will only go up if there is some clear benefit to first converting fiat to bitcoin then using bitcoin in transactions, rather than directly using fiat currency.
We need:
1) More quantitative easing
2) Decreased world reserve of USD
3) Increased fiat taxes
4) Need for increased privacy
5) Massive Economic Downturn
6) Country or very large scale adoption (merchants AND consumers)
7) More bankruptcies
8) Failure of banks
9) Speculation -- The least likely to create long lasting results.
September 28, 2014, 07:02:41 PM
September 28, 2014, 06:59:53 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
You mean like all the amazing panic buying that happened this year with the announcements of Overstock, NewEgg, Dell, Expedia, Square, Wikipedia, United Way, and now PayPal???
It's getting pretty obvious that good news is not creating a panic buying stampede. In fact, I FEAR one more big good news announcement this year and PRAY that it never happens.
September 28, 2014, 06:59:47 PM
why is BTC-e always $5-$15 below the other exchanges?
September 28, 2014, 06:58:42 PM
Someone is working overtime to hold $375. Hope they have a few million on hand.
September 28, 2014, 06:58:14 PM
Now that we are well below the 600 day moving average, time to look at the 700 day MA @ $325.
September 28, 2014, 06:57:13 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
TL:DR Have some coins on hand if you can, if you day trade enjoy the volatility but make sure you have plans for the reversal. If your long term bearish we don't believe in you, like you don't believe in the protocol
September 28, 2014, 06:47:50 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
September 28, 2014, 06:43:28 PM
Really glad I didn't opt to buy the s3 miner now. I haven't even been mining much except my 2 u2+ usb miners always going. Shut down the gpus and sold one off a few weeks back, only mining burst b/c it uses the hard drive which doesn't run my power bill up. Seems we should see those less efficient miners going offline soon and things will even back out as usual though.
September 28, 2014, 06:40:22 PM
If you think you had a bad day...
...my "8888" post is on page 8887 now
...my "8888" post is on page 8887 now
September 28, 2014, 06:33:39 PM
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
September 28, 2014, 06:28:39 PM
The paypal situation is going to lead to a spectacular rally once some of the big merchants start accepting it... which they have already said that they will! Don't listen to the naysayers claims that they sell instantly and bring the price down. Remember people need to buy the coins in order to spend them... and the legitimacy that is brought will have profound network affects.
I mainly agree with your post, however this line doesn't reflect the reality.
People don't buy bitcoin to spend then, they buy to invest and make profit. Maybe they will spend once or twice to try how it works, but it is not worth it, because you end up paying a lot of fees. Only in minor situations it is worth it (discounts, blocked countries, travelling).
I would say more than 90% of the people spending bitcoin are early adopters or people who already made a lot of money with it.
This will lead to more selling pressure in the short term, but anyway it is a good long investment for bitcoin, because it brings more utility and awareness.
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