the market is not acting favorably to these events
i assume the official chain bitcoin ban coming soon is of gr8 concern still
To be honest. TA is bearish as hell for days/weeks. That hearing was way worse than even the bears expected. It´s time to leave the hodl strategy. China and russia rumours are just lurking behind the corner...
You must have been watching a different hearing..the worst of it was the economic hitman, and they are probably all sad because it was Bennies last meeting today: ( Much sad, much print, no taper though... and soon the lady will continue his work... from these hearings I am expecting nothing too enlightened but I do not see them coming down hard, they will focus on the "entry and exit ramps" exchanges etc, and I suspect it will not be too bothersome, and infact will act as an impetus to Bitcoins growth and adoption and the rate at which wally street will get on board... Bitlicense is going to be like a red rag to a Wallstreet Bull, and hopefully they will not drag their feet too long on this.....
As for Hodl or not to Hodl? I will be buying the dips, and I see some of the alts are starting to have a bit of a wobble too... but I see no good reason not to hodl and aquire more and hodl.
Full hodl ahead captn' Aye aye!
ya so why is the market not going up.
this is bearish as fuck.
Who knows why the market is not going up.. maybe it is just having a break inbetween twitches? and these 20-30% daily price swings it has all of the time ; ) besides there is alot going on this week, apart from the hearings... quite an odd week lots of expectations and twitchy triggers loaded with preconceived ideas about the next 48 hours inparticular. Besides I guess it also depends on what timescales you are trading on if you think it is bearish or bullish, I am looking looonger term.
The market is not always smart anyway especially over short windows of time, it is quite reactionary,emotional and dumb sometimes... whilst I have dabbled in TA in certain situations, looking at Cryptos/Bitcoin and applying most TA is pointless at this stage, when the market is still emerging and there is very little historical data, and in reality the "newses" (thanks prouhon
and the fundamentals far out weigh the TA, and looking at the fundamentals as they stand for cryptos what has changed? nothing... nothing negative anyway, there are going to be some regulations... yup we guessed that... but there was nothing new or negative or super scary that came from these meetings nothing, if anything I was surprised at how pro Bitcoin/Crypto the whole thing really was...and that actually they seem to accept that cryptos are already here 100% and they are going to do their best to prevent money laundering etc so there is going to be some regulation, but at the same time they seem aware that they do not want to scare away innovation, I do not see it being a million miles away from what we have over here in parts of Europe, maybe even a one up on that to encourage regulated exchanges etc... if their ideas fit in with the ideas of the global Bitcoin community is another thing... but the more hearings that happen like this, the bigger the network grows, the more the eco system and infrastructure around Bitcoin and cryptos develops, the more investment and the more hearings and more free countries that use light legislation allow Bitcoin to thrive, then the more and more validity it gives the whole market, and more media an more adoption.. this has a loooooong way to go, and at the moment all of this is going at light speed!! 2014 is the year we will see much much happen.... we are years ahead of schedule here in my opinion... literally. For me, and my timescale these hearings were bullish... of course the proof of pudding will be the eating so... I guess we will have to wait and see what the outcome of the hearings actually is.
http://youtu.be/i92tA02xBV4