Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29245. (Read 26732409 times)

Explanation

duuh! exactly, thx man. Bulltards all over the place here lately.

First: the end of another exchange would NOT be the end of bitcoin..   Bitcoin is going to survive in spite of the potential and even the incidences of fraud and/or corruption in various places within (EG seemingly GOX and Silkroad 2 - though silkroad 2 has been much more transparent than GOX regarding that supposed loss of coins )....

Second:  At this time, there is NO real and/or material evidence that any other exchanges have been engaged in fractional reserve banking or stealing money or security breaches at any level near what seems to have happened with GOX.  And, if audits do take place, and some of these problems exist (which is likely), there is NO evidence that the "problems" are at any level near the GOX situation.

Third: the trillion dollar question is whether we go up or down from here... and it does seem, based on the current state of negative news and the impact that negative news has had on the BTC prices, that if there is going to be additional downward movement in BTC prices then that it is likely to be in the next few days.... b/c the longer that this fair stability takes place, the more likely that on-the-sideline investors are just going to jump in at these current prices and there will be a snowballing effect with additional sideline money coming in.   At that point, likely within less than the next two weeks, we will be heading upward with little likelihood to return to these current prices in the $500s - except for possible short bursts of flash crashes... from time to time, which seems inevitable with BTC until such time as the market cap gets into a respectably higher level such as above $50 billion ... which is likely NOT too far off into the future... which is very possible to occur before the end of 2014.  

By the way, a $50 billion market cap on bitcoin would take BTC to around $3500 per BTC...  or $3.50 per milibit.  This does seem like a lot, and it does seem too good to be true.. and/or pie in the sky.  But a $50 billion market cap is only a tiny fraction of bitcoin's potential - in terms of money transmittal, storage of value and currency capabilities.

It takes more than a couple of days for the market to officially break a downtrend. I think it would either take a week or two even just to confirm it because of how low of a volume we are at right now. Volume has to significantly increase for an uptrend to occur and right now only old money is bringing in money to the exchanges. I do not see anyone too excited in investing into bitcoins after hearing about Mtgox. 

Bitcoin is a gold of XXI, stable price is comming in XXII century.

go away with your spam

Well unless we have a break downwards within the next day or two, the downtrend will be over.

Explanation

i dont see us going anywhere but down in movement short term. And I hope and pray that we dont lose another exchange, say for example btc-e. If this happens it is a wrap for btc.

also IMHO most the dumps will be the next 24 hours, look at charts no volume, nervous market, and we are at the top of this wave, so it will be a rally for big holders, who will dump first

+1

I have lot of sub 500 orders too but if alts continue to plummet I might consider buying BTC early 

I don't think the goxfear based flashcrash created a true capitulation bottom. It was nothing but a flashcrash within a downtrend and that downtrend will continue until the genuine bottom. I think we will at least be testing that bottom in order to confirm.

mmmm, what makes everyone sure that we wont retest the 400, I have many orders near the 400


and also I have some orders a little above 350 lets see how that works out for me

Edit: and I am almost sure that we will visit that range again, well if the trend proves me wrong I will have some extra fiat (didn't decide yet if I will cash that out but most likely will do)

to be fair, i did say 'slowly' 

my point is that i think 400 was the bottom. i think from now until around june, price will be relatively stable (but with a slight upward trend) before we see the next bubble. i'm not saying it's not possible to dip into the 400s again, but i'm pretty sure we won't be going lower than 400.

http://en.wikipedia.org/wiki/Problem_gambling

We tend to have lighter sentencing in the UK. Their next stop will probably be Norway where the hard core crims have private islands to play on.

True, that was 400. But how many coins were traded at that price?  Very little use in owning any fiat when we're near the bottom of the VWAP curve.

The Bitcoin Foundation is a foolish idea anyway. I'd rather see more loosely-knit but narrowly targeted groups arise naturally.

Yeah, the band is 530-590 and we'll be stuck in it for a while yet, unless someone in Europe is still capable of shame.

In a SHTF situation, you don't want your assets exposed to appropriation. There is only one way I know of to remove them from physical and counterparty risk:  The blockchain.

Pocket change should be kept in survival resources and metals, perhaps neutral major fiat brands, but real assets need to be exempted from physical and counterparty risk.