Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32734. (Read 26469356 times)

the 5K on 70 is only 3,8k now thats for me showing that people are thinking it will go lower , and it will.

I would be cautious of thinking we're "holding up" here. Volume has been atrocious even in the 70s. The first time there was real buying pressure after the drop to 90 was after 71, and that was only for 3-4 hours yesterday before it got shit on hard after touching 84, followed by no-volume all day.

If it stagnates in low 70s you can pretty much set your watch to dumps. If it falls into the 60s, real panic could set in, and 50 may end up being a monster bull trap.

The market is not the same as it was in April when it touched 50. Both demand and buyer confidence have diminished enormously since May. On top of that is Gox losing market share and so many people cashing out that Gox had to find new banks to process the volume.

Long term, though, you can buy anywhere right now and just hold and make a fortune. 60s seem inevitable right now though. It's just a question of how violent the red candles are going to be because of the psychological factors involved when 71 falls and the buys still don't come in.

Perhaps, but if I would give my advice to a noob I would tell them to wait for the price to drop further and start buying in around the 50s or low 60s and even then to not go all in until the market shows some real strength again. I do think the 50s will show some real action, but if even then the bulls don't react strongly then I fear we'll go down further to 20-30.

Yes and that is partly why I'm staying put. (no pun)
I feel like Yoda is sitting on my shoulder and saying greed is bad. So, I will just sit and hope to by back in when the dust clears...
There is still a bigger purpose here.   
Use the Force.

I really wonder how much longer we can go down without having a noticeable bounce up. I don't want to test this level with a buy (even though we are near a critical level (68 ish to me)) as it is still possible to slice down lower. But looking at our last big move down (130ish - 100, with bounce off 88), makes me think this current move might settle around 70ish (with a bounce off the low 70's or upper 60's (edit)).

Just throwing that out there.

I'd say that for a n00b, much better to step in NOW that in the first half of the year. Let's assume that everybody is buying little by little, first a smallish amount and then a bigger one, spreading their bids... Let's say rationally and not emotionally.

If you are in this for the long run much better to enter the market during a bubble deflation and being able to have a decent average entry price, that being caught during the speculative mania phase where price doubles every few days.

In the long term everything will work out fine, but right now blood has to be shed. Too bad if you stepped in just recently, but I think the most valuable lessons to learn are right now right here and not when it's only up uP UP. I think we may hit $65 today, and then a bounce up into the 70s again.

I'm of the opinion this downtrend is simply manipulation so whales can scoop up thousands of cheap coins and replenish their inventory. Sells have come to kill every rally attempt since 90s, while BTC had equivalently little/no trading volume when it was 110-135, but continued to be pushed up by periodic large buys.

The downside is it's apparent that between Gox troubles, post bubble, and manipulation that a ton of the new blood that entered the market has either left the market or lost their shirts. Whales get rich by breaking novices, after all. In a zero-sum game, your +500% profit is paid for by the counter-party to your winning trades. Thus, short of betting on manipulation raising the price, I have no idea where bullish momentum will come from until the next bubble phenomenon.

Cryptos look very bleak right now, and are very, very far away from any sort of meaningful mass adoption. People who think BTC will be $300 by December are most likely fantasizing. Revisiting $150 again this year is also rather unlikely to happen.

BTC needs new blood that doesn't get auto-bankrupted in order to bloom. In a tiny market like this, any early adopter or speculator with 7 figures can absolutely trash smaller positions at-will, with only the people who are buy-and-holding not being affected.

haha that was not cool -.-:P

yep 

lol, been there, done it, spelt my name wrong on the t shirt!

see woody, wasn't it worth all that scrolling...

Sell now, buy later !

heheheh, really, I thought my spell check was broken! I couldn't figure it out and it just hit me now...
(This is what happens when you live in a foreign country for years....)

LOL http://www.investorschronicle.co.uk/2013/07/05/comment/the-editor/don-t-bother-with-bitcoin-2PGuuJiaOG3THnmMYSg5RO/article.html

In the last days the avergae number of transaction fell by 10k (25%) but the amount transfered has risen by 50%.
Lots of coins on the move , and I really hope not in the gox or bitstamp purse.

Quite interesting , the change happend right after the winklewinkle bros announcement.

because jaroslaw is dumping 

Same here, bought in at 82, hoping for a bounce that never came, and cut my losses at 76 this morning, just seconds before it went down to 73. Don't trust those walls.

48hrs ago:
now:

This means we basically went through bids worth 40k in just 2 days. At that speed we are mid-50s by the end of the weekend.