Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31087. (Read 26484957 times)

But why feel bad? I made like 22,000mBTC trading today. It is not much, but a decent daytrade with little risk. It is not 15,000% of my stash compounded over 4 months like some here seem to have made. But it's something. And I have more fiat and more bitcoins than 12 hours ago. That feels good.

+1.

But why feel bad? I made like 22,000mBTC trading today. It is not much, but a decent daytrade with little risk. It is not 15,000% of my stash compounded over 4 months like some here seem to have made. But it's something. And I have more fiat and more bitcoins than 12 hours ago. That feels good.

Here's the deal. Everyone can post whatever TA they have. That's great. TA works. I like it.

But if we are going down and it looks like we are, the only thing that really matters is how much $$$ has entered the market that won't be coming out.  That's the bottom.

Category A
All the $$$ that can leave the market is from either
A. Speculators
B. Former believers who are now non-believers.

Category B
All the $$$ that is staying in the market
A. Second Market
B. Long Term Investors (including the VC community)
C. Believers

In 2011, the reason we went from $32 to BELOW the previous runup was SIMPLY that we didn't have more of Category B. In April 2013, the reason we never tested below the point that the rally started AND the reason we didn't test $50 again was we had more of Category B.

So how much of Category B do we have now?

A lot more I believe. Second Market has put tens of millions into the market. We have had an on rush of new bitcoin fanatics like never before. And more VC money has gone into and around the market.

So what's the absolute bottom of where we could potentially go?  $700? $500? $400? I don't know.

Although I strongly believe that we will not go down near where we started ($200). 

I figure $350 could be absolute bottom, but I do not think we go that low.

I think we probably have enough $$$ in the market that is staying in the market to stay above $500.

However, this is a TOTAL GUESS. As is anyone's at this point.

That is exactly why it is very accurate because it includes all BTC pairs. Or is a Russian bought bitcoin somehow not a full bitcoin. Must it be bought with USD to be counted?

Last Saturday guy on McxNow chat wrote that he got SMS from his best friend who knew he is into Bitcoins. He told him he is sitting with some Chicago Wall Street guy and he mentioned him Bitcoin and that his friend is into it. Wall Street guy told him to contact him and say to get out of Bitcoin as soon as possible as on Monday some guys are going to start betting against Bitcoin shorting it.

It looked fishy at the moment and even that guy from McxNow didn't pay lot of attention to it based on what he was saying but less than 24 hours after first flash crash happened and we were on top of bullish sentiments at that point.

Hahhaha, welcome to Wall street. What a joke 

Hahhaha, welcome to Wall street. What a joke 

The problem is - the majority of us here are full fiat.

Look at Adam's vote?

If we all think it's worth a mint, we are just sitting on it and only buying the dips.  The consensus here is 'hold' that is all.

So who will take it higher - we aren't buying it up to 1500 10,000 (fill your own price in), we want everyone else to come in and do it!

Going up requires BUYERS.  They come from wider adoption, better utility and yep, good news.   Other than that we can't do much to make it happen, we are drawing charts we want other people to follow.

Ironic, no?  (and I speak as a bull)

Of course, that's why I said I would never act on such info from some nobody who was told by nobody who was told by nobody.

But this time it looks there is a chance it was a genuine info.