When Mt Gox was dying, the market slid for months. When they stopped accepting deposits (for the last time), the market crashed to $400 and immediately rebounded to $710.
The slide from $710 to $436 was because the eventual banning of BTC exchanges was being priced in. There was some confirmation of this with two small exchanges that took us from $486 back down to $440.
Markets hate uncertainty more than they hate bad news. Bad news can be priced in. Uncertainty by it's very nature cannot. What is certain is that when and if a final confirmation from the PBoC comes out or Chinese exchanges stop accepting deposits, the China Syndrome will be behind us and other factors will dominate price action.
The time to buy is when things are at their worst, when things can't get any worse. The irony is that Wall Street money will likely not come in until after we sell. If we never sell, it could take them months, years or eternity. Wall street doesn't want to share our success. They want to take our success from us. They're not angels. They are vultures. The only way to keep them out is to bootstrap another rally without them, have them buy in and we slowly and methodically take profits on the way up. It would require a level of support at least twice as high as what's on our current order books.
The two external possibilities that can save us are an official denial by the PBoC of an imminent bitcoin ban or a influx of billionaire whale money. Both are very possible but unlikely. As a community, the way we can save ourselves is for The Bottom to be defended on very high volume. Next dip below $550, buy like crazy and don't sell till you see $100 profit. That dip will come unless a whale intervenes. There will be no organic rally without another defense of the bottom.
Disclosure: I'm not talking my book here. I'm trapped in a leveraged long position and resigned to either sell at a profit or get wiped out in a margin call. I got screwed because I thought the PBoC would either confirm or deny the rumor by now. They claim to be concerned for the welfare of speculators and consumers and then keep us in the dark. I guess that's what we should expect from banksters.
The slide from $710 to $436 was because the eventual banning of BTC exchanges was being priced in. There was some confirmation of this with two small exchanges that took us from $486 back down to $440.
Markets hate uncertainty more than they hate bad news. Bad news can be priced in. Uncertainty by it's very nature cannot. What is certain is that when and if a final confirmation from the PBoC comes out or Chinese exchanges stop accepting deposits, the China Syndrome will be behind us and other factors will dominate price action.
The time to buy is when things are at their worst, when things can't get any worse. The irony is that Wall Street money will likely not come in until after we sell. If we never sell, it could take them months, years or eternity. Wall street doesn't want to share our success. They want to take our success from us. They're not angels. They are vultures. The only way to keep them out is to bootstrap another rally without them, have them buy in and we slowly and methodically take profits on the way up. It would require a level of support at least twice as high as what's on our current order books.
The two external possibilities that can save us are an official denial by the PBoC of an imminent bitcoin ban or a influx of billionaire whale money. Both are very possible but unlikely. As a community, the way we can save ourselves is for The Bottom to be defended on very high volume. Next dip below $550, buy like crazy and don't sell till you see $100 profit. That dip will come unless a whale intervenes. There will be no organic rally without another defense of the bottom.
Disclosure: I'm not talking my book here. I'm trapped in a leveraged long position and resigned to either sell at a profit or get wiped out in a margin call. I got screwed because I thought the PBoC would either confirm or deny the rumor by now. They claim to be concerned for the welfare of speculators and consumers and then keep us in the dark. I guess that's what we should expect from banksters.
Your attempt at concerted action is like herding cats..... I admire it, but really, I doubt you are gonna get people to engage in some mass buying campaign... b/c each of us is in a different position.. and maybe we do NOT have enough capital to buy, buy, buy.... I know the other strategy is to hodl and don't play the selling game..,..,. and that could cause prices to rise with smaller volume and cause a whale to come in that does NOT want to lose out on the upward momentum.....
You are correct about the intense bitterness that wallstreet likely has in regard to bitcoin investors and they are likely very reluctant to empower the "undeserving" early bitcoin adopters to make any high level(s) of profit.
As I see it wont come >400$ 
google made the best joke of the day 
he really does gone crazy 
