Most obvious prediction is down to 2500 on huobi
Bears are washed out, the current selling is mainly profit taking.
We aren't going below 400 unless fresh Fud news from china comes in.
The bulls seem more washed out to me, I don't see many people buying at the moment.
some people are worried of being a 450 bag holder.
I am more worried about the bag being on the train, while I am standing at the railway station platform trying to figure out how to get to the next train station so I can get on the train.
And there are plenty of people like you that feel the same.
I think when we finally hit the bottom we will level out for a while. I don't see a big bounce, followed by choo choo. So for me at least there is a lot less risk in dollars or yuan.
All the gox, China, Australia news, does not go away overnight, and it's new investors that are needed. More bad news could be just around the corner. Many personal investors with serious cash are older, and don't understand bitcoin, and are naturally more conservative. Corporations, wouldn't touch bitcoin with a shitty stick right now, as it looks risky on price and it looks even riskier on regulation. Lets face it, there is no good news for new investment.
LOL. Can I quote you on that? What's App sold for $19 Billion dollars. You don't think there aren't one or two VCs considering the possibility of cornering the market for the next rally? NONE?? 10% of CoinBase and Blockain wallets holders could support this price level for less than $10 a day. By themselves. I have thousands of dollars waiting for bear suckers to dump so that I can take your coins. I'm pretty sure we can come up with money to buy longer than you can come up with coins to sell. The Fed is quantitatively easing ~ $50 Billion/month.
Maybe I'm wrong. We'll see.
Sounds to me you are gradually coming out of bear-mode, BJA.
If so - welcome back.
We have seen the lows, and it is a pitifully small drop from where we are to what are VERY cheap coins. Too cheap.
Yes - buy like a mofo if it dips again, it may be the last chance... I increased my (not massive) holdings by 25% on Thursday in that dip and I am quietly rather pleased with myself.
There is not much that can take us down from here, and the upside has a hell of a lot more room in it.
If you feel different - you are right to: If it was going to crash, the bears had their chance to drive it to 266 and maybe lower 48 hours ago. There is not much fiat coming in, so we should be seeing carnage if Thursday was not the bottom.
But it didn't happen. And it won't. China has been priced in for weeks, Gox is gone. All the other (ignored) news is actually very positive - more so than ever. But most importantly the market thinks that 339 is too cheap.
It is being 'remembered' that coins are scarce and they are very cheap, in my humble opinion. Sub 400 is a steal compared to what we we will see this summer.
Even under 450 is a safe buy compared to what is to come.
Like KFR said - people treat a day like it's a month on here, it's hilarious. Sentiment sea changes have already come, don't short - BUY.
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