Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26767. (Read 26611269 times)

We just broke 2 year bullish trend, have no buying power visible and also good news don't effect the price at all. We didn't have a bad news for a long time, we forgot the feeling...   If anyone sold short term (weeks) be careful for high up volume, otherwise not so so risky. There won't be moon here next week.  

I dunno, I'm feeling like up, which probably means down, but it still feels more like up..  

Perhaps those concentrated buying sprees that suddenly pushed the price up from ~450 to ~600--650, starting on May 20, were individual traders getting invited to the BitVC exchange (that Huobi is setting up in Hong Kong), converting all their yuan to bitcoin in order to trade there.

Is it me or is selling all your coins at the moment to hopefully buy back in cheaper next week highly risky?

I have less than 12 coins and at this current moment I wouldn't dare to sell even 1.

At this current moment the upward potential by far outweighs the chance of buying in a tiny bit cheaper along with the chance of missing out and/or having to panic buy back in at a higher price.

Also you don't lose money unless you sell at a loss, by holding in a small temporary downwards movement you don't lose anything.

Definition of a honeybadger is not that he can't fall ("go low"), but everytime he fall he will get back up like nothing happened.  

Word. I did sell them all. Mind you, I am looking at sometime next week as a reentry point... maybe I can get myself more than 12 (that would be sweet!). After that, I expect rampant awesomeness only.

Fair point. That is seriously what I think, but I could see how calling for a 15% to 20% drop would seem a bit obtuse.

12BTC is GOOOD
you sold everything?
your right tho, you got a good chance of buying lower. i mean this is bitcoin, NEVER give up hope on your trades and take a loss, or else you're doing it wrong....

Explanation

It's really anytime between now and the 24th is when Lawsky said he will release the regulation proposal.

That's what the date represents.

i hear you.

you got some compelling FUD. but i think, you seeing the market looking as topy is questionable, and your target of "low 500s" unreasonable

as for the other thing, I think honey badger won't care. we'll see.

It's working! Buy Buy Buy!

Come on bitcoin let's bounce.

You've just defined "speculation."

Just people creating another deadline out of thin air. It will soon be super duper important and control the whole market. There will be massive fear and people dumping shitloads of coins as we get closer to the 24th.  1 day after the 24th (where nothing happens) nobody gives a shit anymore. Then they will be looking for the next "deadline".

Cool story bro. Hey, I'm not saying it will be the end of days or anything, but I think we are about to get a buying opportunity... it might be the last good one. It's up to you to decide whether the glass is half empty or half full, but we both know in the very short-term (next week or so) downside odds are greater than upside odds. Think about the volume for instance... it says two things -- (1) nobody is all that excited to buy right now; and (2) smarter money is trying to unwind their positions without having everybody race out of the auditorium. Also, think about the good news we've received lately... it has had zero effect. By contrast, even the weak FUD piece by the European Central Bank caused a 4 to 5% drop. Now, we have a market situation with Bitfinex that could go south very quickly and we know the regulators will have harsh sounding cautions that won't amount to anything in practical effect (it'll be a green light... good news... that will sound like a red light).

So, I sold my (pretty modest) stash of 12 coins (I am relatively poor but not terribly so) this morning. I am waiting until sometime mid next week to re-enter. You can cheerlead all you want, but have fun losing money doing that (unless you are just hodling very long-term in which point it is probably irrelevant). Thanks, have a nice day.

quality FUD


not bad.

By the way, I am generally positive for our long term and even 6 months out prospects. But, next couple weeks look like they'll be tough going.

Crashing into the low 500s by this time next week. The pressure seems to be more towards the downside and we all know that there is bad news coming -- Bitfinex isn't prepared for the 21st, Lawsky... even if it turns out to be good news... will be confusing enough to seem like bad news initially, China seems bored, and the degree of market manipulation has seemed to intensify as of late. Sprinkle a little FUD on top of this along with the larger batch of Silk Road coins strung around the market's next like an albatross (and the fact that we had a bump following not even really knowing what the bid price was on the smaller batch bitcoin auction... we just extrapolated out our backsides). Oh yes, and add in the fact that even with great news we can't seem to break towards the upside... if we are going anywhere near term it is down.