If it's similar to last time, we're only about 2/3 of the way through the bubble deflation (duration wise), whereas a price of $50 seems pretty near at the moment.
By this time in 2011, the bubble had deflated by about 70% (of peak day price), this year we're at about 73% at this stage. We're pretty much on track.
Oh, and of course it lost over 90% of its peak price in the end.
So, if the last bubble is anything to go on, $50 seems pretty optimistic as a bottom...
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32719. (Read 26469474 times)
July 06, 2013, 06:58:24 AM
July 06, 2013, 06:41:17 AM
Why is everyone wanting in at 50 ? Either 2 things :
if 50 indeed holds it's not going to the low 50s but it will settle higher. So what, are you going to panic buy in the 60s when you realize you bids for cheap coins didn't get filled ?
if it falls (more likely), this will be an epic selloff as all those who bought have an "oh crap" moment, and there's not much support until 30 where the same story applies.
In either case, 50 won't be the bottom.
if 50 indeed holds it's not going to the low 50s but it will settle higher. So what, are you going to panic buy in the 60s when you realize you bids for cheap coins didn't get filled ?
if it falls (more likely), this will be an epic selloff as all those who bought have an "oh crap" moment, and there's not much support until 30 where the same story applies.
In either case, 50 won't be the bottom.
But it will be a bounce
July 06, 2013, 06:24:56 AM
Why is everyone wanting in at 50 ? Either 2 things :
if 50 indeed holds it's not going to the low 50s but it will settle higher. So what, are you going to panic buy in the 60s when you realize you bids for cheap coins didn't get filled ?
if it falls (more likely), this will be an epic selloff as all those who bought have an "oh crap" moment, and there's not much support until 30 where the same story applies.
In either case, 50 won't be the bottom.
if 50 indeed holds it's not going to the low 50s but it will settle higher. So what, are you going to panic buy in the 60s when you realize you bids for cheap coins didn't get filled ?
if it falls (more likely), this will be an epic selloff as all those who bought have an "oh crap" moment, and there's not much support until 30 where the same story applies.
In either case, 50 won't be the bottom.
July 06, 2013, 05:00:38 AM
yeah 
a quick pump.. so he can sell later on at higher prices and its working
i'm not buying
sentiment to 50's to big .. all wants to catch bottom.
yesterday wall of 2800 bid side trying to push price up got eaten in a half a minute
there's much hidden sell power there we dont know off..
also hidden buy power.. but they want 50's coins.
edit: looking at bids.; not much support over 68 at all..
a quick pump.. so he can sell later on at higher prices and its workingi'm not buying
sentiment to 50's to big .. all wants to catch bottom.
yesterday wall of 2800 bid side trying to push price up got eaten in a half a minute
there's much hidden sell power there we dont know off..
also hidden buy power.. but they want 50's coins.
edit: looking at bids.; not much support over 68 at all..
July 06, 2013, 04:47:45 AM
Someone just did a juicy 2k buy.
July 06, 2013, 04:10:01 AM
Dont know if today or tomorrow will dump coins till price hit 65$
July 06, 2013, 04:01:54 AM
What i dont understand is the people that are holding ,say 10k B that thay are not cashing out now ?
Even if thay think that we will stay at this price.
Becuse if thay dump 10k now the price will fall realy hard and only profit would thay make.
And if you have over 10k you are probebly a person that are not stupid, i think its just crazy that we dont se a faster and bigger drop . And becuse of that we maby wont hit as hard that we think ,but i will hold
My cash steady for som time now .
Even if thay think that we will stay at this price.
Becuse if thay dump 10k now the price will fall realy hard and only profit would thay make.
And if you have over 10k you are probebly a person that are not stupid, i think its just crazy that we dont se a faster and bigger drop . And becuse of that we maby wont hit as hard that we think ,but i will hold
My cash steady for som time now .
No point in selling right now, the order book needs to build some depth, as soon as there will be juicy bids then its time to dump.
We may have another couple of weeks of calm and quietness before the next round of big dumps
July 06, 2013, 03:30:51 AM
We are in quite oversold territory now. A bounce would not be extraordinary, but in the larger scheme of things, the overall trend is still down.
Seems like the low volym bounce has begin
July 06, 2013, 03:01:00 AM
We are in quite oversold territory now. A bounce would not be extraordinary, but in the larger scheme of things, the overall trend is still down.
July 06, 2013, 02:54:09 AM
Or just the first half of the selling is over?
^ This
It isn't going to be over until we hit mid $50's
July 06, 2013, 02:00:50 AM
July 06, 2013, 01:59:49 AM
88k BTC to $50 on the bid side, while there's only 143k BTC total on the orderbook. 25k BTC just to $60. Not that it's really all that indicative of anything since when shit really goes down, walls tend not to mean anything at all.
But 60k BTC in bids from $60 to $50 appears somewhat bullish. A lot of buying pressure may just be waiting for "cheap coinz", which may never materialize.
But 60k BTC in bids from $60 to $50 appears somewhat bullish. A lot of buying pressure may just be waiting for "cheap coinz", which may never materialize.
July 06, 2013, 01:40:51 AM
What i dont understand is the people that are holding ,say 10k B that thay are not cashing out now ?
Even if thay think that we will stay at this price.
Becuse if thay dump 10k now the price will fall realy hard and only profit would thay make.
And if you have over 10k you are probebly a person that are not stupid, i think its just crazy that we dont se a faster and bigger drop . And becuse of that we maby wont hit as hard that we think ,but i will hold
My cash steady for som time now .
Even if thay think that we will stay at this price.
Becuse if thay dump 10k now the price will fall realy hard and only profit would thay make.
And if you have over 10k you are probebly a person that are not stupid, i think its just crazy that we dont se a faster and bigger drop . And becuse of that we maby wont hit as hard that we think ,but i will hold
My cash steady for som time now .
A person with 10k B probably bought them for $10,000.
July 06, 2013, 01:36:13 AM
What i dont understand is the people that are holding ,say 10k B that thay are not cashing out now ?
Even if thay think that we will stay at this price.
Becuse if thay dump 10k now the price will fall realy hard and only profit would thay make.
And if you have over 10k you are probebly a person that are not stupid, i think its just crazy that we dont se a faster and bigger drop . And becuse of that we maby wont hit as hard that we think ,but i will hold
My cash steady for som time now .
Even if thay think that we will stay at this price.
Becuse if thay dump 10k now the price will fall realy hard and only profit would thay make.
And if you have over 10k you are probebly a person that are not stupid, i think its just crazy that we dont se a faster and bigger drop . And becuse of that we maby wont hit as hard that we think ,but i will hold
My cash steady for som time now .
July 06, 2013, 01:09:11 AM
Or just the first half of the selling is over?
^ This
It isn't going to be over until we hit mid $50's
What happened to long, slow slide?
We've dropped almost half in less than 2 weeks.
Arent we overdue for a correction-correction?
[Dead cat bounce, is this the term?] July 06, 2013, 01:00:46 AM
July 06, 2013, 01:00:17 AM
Or just the first half of the selling is over?
^ This
It isn't going to be over until we hit mid $50's
July 06, 2013, 12:26:29 AM
Bids seem to be rising at a rate slightly higher than asks.
However... bid/ask is looking much healthier, and it's going to take about 25k of market sells to make it any worse.
Bottom? Or just the first half of the selling is over?
However... bid/ask is looking much healthier, and it's going to take about 25k of market sells to make it any worse.
Bottom? Or just the first half of the selling is over?
July 06, 2013, 12:09:04 AM
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