At $600 the 'trends' were still peaking (as much as I hate to depend on trends), the media was still pumping the bitcoin propaganda and people's interests were being piqued.
Now the trends are down, the media has been saturated (something thats hard for bitcoiners to accept, what people actually would just ignore our bitcoin arcitles???) and we are yesterday's news.
As far as not knowing how much 'pressure' is left. It's pretty obvious, we've been flapping off this ~1k resistance like a wet fish for for a while now, the only pressure that's left is in bull's heads.
My bearish call was about 7 hours after China popped in 19th November, public the following day. My correct calls have been to sell ALL bitcoins in 2011 for $25 (never before, nor ever after), and buy back at $2-$3 (which I did follow myself).
The fact that after the actual pop in November, the old steam still inflated the bubble to almost twice the size is fun
Perhaps selling some more today - every day mounts more evidence that it's not going anywhere.
Yesterday you said that 2nd bubble was first in which you were invested yet now you are saying that you sold at 25$ and bought back at 2$. YOu need help definitely, medical one.
It took years to recover from 2011. It took months to recover from April 2013. This rally will be even easier to recover from. Barring some bad news, it won't take several months before we start going up again. We might, MIGHT, dip below $600 but I really doubt it. I thought for sure we would go back to $50. So much so that I ignored the obvious fact that the bottom was in at $66. People are staring at $600 now. Everyone knows the significance of that #. Barring bad news, I don't think we go below it. If we do then $500 will be the absolute bottom. But we will be headed north again, most bearish scenario, by February.
Agreed. The cycle is accelerating, all the signs are there. We're hitting the mainstream. Train is picking up steam, if you like.
Risto and the bears are myopically pointing to the meaningless trendline... look at the time lag between the April and November rallies compared to the behavior before, and tell me this thing isn't accelerating.
I'd be unsurprised to see the next rally inside of 3 months.
I have also had my first bubble, which is characterized by disbelief, and the second (first in which I was invested) characterized by euphoria and denial of bubblepop. Now in my third bubble I am wiser and know the trendline, and the value of pi() is still 3.14159... even in heaven, and some things just don't change, and even if they do, you can quantify then mathematically. This is analysis over emotion thing now. Some point in the next 3 months we will see 0.5, possibly lower, and afterwards I will tell you how much I made.
You(pl.) sound so much like me last April that I wonder if your investor cycle is one bubble behind me
