Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32886. (Read 26644478 times)

Because having 1,000 coins is very different to having 500 coins.

Hitting the very bottom is pure luck, but buying 50% lower than you sold is quite achievable in a Bitcoin bear market.

interesting part is that people who are waiting for confirmation of trend reversal (which i think already happend and bubble deflated at $65) for $120 mark then they will have to buy back half the coins they could have at $65.

People here often show 2011 bubble to compare to 2013 one but they seem to don't see that no matter what, after one bubble there will be another 10 times bigger. This was the case 3 times now and will happen again. Then why one is trying to hit the bottom to buy if they can just buy now, sit, relax and enjoy the ride to the top? They will profit anyway and trying to hit bottom may as well end up in losing coins.

IAS, I think we will definitely visit the '50s but I'm not sure if it will happen so fast as in your extrapolation. My impression is that we have entered a "slowish" phase, and I don't expect impulsive moves downwards for the moment, just sideway trading + a few dumps that will gradually take us down for a while, mixed up with bounces and traps.

Regarding the SatoshiDice thing, I'm honestly not expecting big dumping by the shareholders who received the monies. My guess is that the big dump related to the SD buyout already happened, insiders dumped before the thing hit the news, as usual in both BTC and FIAT world - and that IMO explains at least partially the dump that took us to the '80s from the high '90s.

The dumping of SD shareholders don't seem to me like a probable bearapocalypse, what really intrigues me is when the SD buyer bought his +100k coins. Did he bought in the last weeks? In the last months? +100k are big volume, and I wonder how much of the big moves upwards triggered in the last weeks are direct consequence of the buying of the new owner of SD. If he did most of the buying in the last weeks, and thus is responsible of the impulsive move upwards from $66 to $104, I think the lack of buying pressure will be much more relevant than the eventual "dumping" of SD ex-shareholders.

It looks like we have a short term triple top forming. This is particularly clear on Bitstamp.

I suspect we will see another big drop (testing the last low) in price later today.

Disagree completely. It means noone knows what the f* to do. My reading of the situation is that we saw the potential first signs of a bullish recovery last week. That had the potential to continue for one more leg up this week, but no-one in their right mind is going to buy in the absurd situation when there is a $10 gap between the two main exchanges, and arbitrage doesn't serve to close the gap (due to one exchange following the other's price changes).

So buying pressure reduced and the price fell -- on somewhat lower volume than previous legs down. The result is rather unconvincing and leaves the market a bit listless. Even the strongest TA adherents can't convince themselves in such a bifurcated market.

My prediction, for what it's worth (nothing) is that since now Mt Gox appears to be getting it's act together, and the exchange gap is closing, buying pressure will slowly return, and we happen to be near the bottom of a less-than-100%-convincing leg down.  You might see some anticipatory buys on Sunday.

Nice site, if you haven't checked out https://www.tradingview.com/ I really recommend it. I don't know how to use most of the drawing tools but it is pretty intuitive and allows for creativity.

So, what do you all think of visiting $50 - $40 between July 23rd ish and the beginning of August? I'm really happy with the triangle feature ;-) And the overbought needs correcting...

ehehehe, which reminds me, I'd much rather have 42 BTC's than 45...

Stuff like that always reminds me of a line from Hitchhiker's Guide to the Galaxy: "Learning to fly is easy.  The knack lies in learning how to throw yourself at the ground and miss."

@bclcjunkie - Well said.

The way I see it is that it doesn't matter if a person is a hater or a Fan boy. What matters is what they say (and in a sense how they say it). Even in bullshit there is truth.
If someone is hating while I'm bullish, I still look at what they say, perhaps more so as then I have something "to lose". And likewise in the other direction.
But even Shrooms..., ok,  not him, but lets say coinseeker (who I have had my disagreements with), when he has something to say with a bit of proof - I listen.

I just remember some wise words by J. Krishnamurti.

I bolded the most relavant part but left it as one piece as it is really, well, deep...

Danke,

Somehow this fits...

Darth Vader: Your powers are weak, old man.

add to that his avatar i almost fell out of my chair laughing out loud... 

Shrooms,

stop bitching mate if this shit is getting too heavy to handle for you find yourself a subforum that will feed you some overoptimistic nonsense for bagholders... i'm a bitcoin fan but i'm a realist hence love what guys like Rampion, IAS and Blitz think about current situation... they are the reason i visit this subforum daily to keep myself informed..  i got hit badly due to lack of knowledge about bitcoins.. and at least i now have much better view of what's going on in bitcoin market, what really drives it and keep my expectations far more realistic not to mention be cautious when it comes to investing in coins... all thanks to these guys... now that doesn't mean they may be correct all the time but at least they give enough information for you to make your own decisions, conclusions...

depends. if people invested (like they should) only amount they can afford to lose, then they most of the time don't need to do this. On the other hand we have Argentina or Kenya where people need bitcoins in any amount but not always they can buy them.

well obviously the people holding on to their coins think its under priced, but since there are few buyers compared to average wouldn't that show something? if someone suddenly needs fiat it will send the price well down, and i think this is much more likely than someone suddenly needing btc

  LOL

That's from the Bible, right?

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?
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I disagree. I think it shows nothing. Bitcoin does what it wants really.

if bitcoin would be overpriced, then people would be selling them, don't they? If they are not doing this maybe they think that price is too low.

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume
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dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?