The matter of blame about the current price as been addressed several times: it was Gox AND China, but also a technical movement: an healthy correction.
Much more important is the question about how can you profit with the situation.
Topic: Who can we blame for this sub 500? Mtgox and China? Or is this restructuring? (Read 1121 times)
May 13, 2014, 04:37:12 PM
May 13, 2014, 03:30:25 PM
This is a bubble chart...
A lot of things have never followed this.. BTC should be dead if this chart was true for BTC, that is all.
A lot of things have never followed this.. BTC should be dead if this chart was true for BTC, that is all.
You haven't understood the chart properly, it can go higher each time but still following this pattern..
May 13, 2014, 03:27:38 PM
Nobody is to blame, it is human nature:
This is a bubble chart...
A lot of things have never followed this.. BTC should be dead if this chart was true for BTC, that is all.
May 13, 2014, 03:15:05 PM
The point is, if an uptrend slowly starts at some point (be it 3 months out, 6 months out, or even a year out) and you see the mega whales with mega deep $$ suddenly return to this market, you can bet your arse that SOMEONE on the inside knows SOMETHING big is coming that the rest of us small fish don't. It will continue to build momentum and ultimate culminate, but it will look like sudden organic growth and overnight demand is happening (which may only be half true). It will catch people off guard and seem like a farce. And yet you will see the peak of the bubble top slightly preceded by a flurry of big announcements and events ( announcements like bitcoin ETFs launching, Amazon/Facebook/Google getting into the bitcoin game, another country entering big time, etc.), seemingly out of the blue. The timing is usually infallible, and thus highly suspect. That's exactly how it works in the stock market and many other markets, time and time again.
I've seen it with my own eyes play out in the stock market, enough times that I now recognize the tell-tale patterns.
"Buy on the rumor, sell on the news."
I've seen it with my own eyes play out in the stock market, enough times that I now recognize the tell-tale patterns.
"Buy on the rumor, sell on the news."
May 13, 2014, 03:06:17 PM
So what your saying is that this is the best time to buy?
No, by all means wait until the 'Optimism/Belief' cycle starts again along with everyone else. 
Btw, just a future tip: Market mover whales with deep pockets are known have insider information at least 6 months to a year in advance of major announcements or events. You think that it is just a coincidence that bitcoin activity picked up majorly in January 2013, only to culminate into the ultimate run up in November 2013 (*cough* China, *cough* US Fed Review)? Hmmm? So you think that is air that you are breathing now, Neo? Hmmm? Interesting.
May 13, 2014, 11:46:47 AM
So what your saying is that this is the best time to buy?
No, by all means wait until the 'Optimism/Belief' cycle starts again along with everyone else. Btw, just a future tip: Market mover whales with deep pockets are known have insider information at least 6 months to a year in advance of major announcements or events. You think that it is just a coincidence that bitcoin activity picked up majorly in January 2013, only to culminate into the ultimate run up in November 2013 (*cough* China, *cough* US Fed Review)? Hmmm? So you think that is air that you are breathing now, Neo? Hmmm? Interesting.
May 13, 2014, 11:34:58 AM
So what your saying is that this is the best time to buy?
No, by all means wait until the 'Optimism/Belief' cycle starts again along with everyone else. Btw, just a future tip: Market mover whales with deep pockets are known have insider information at least 6 months to a year in advance of major announcements or events. You think that it is just a coincidence that bitcoin activity picked up majorly in January 2013, only to culminate into the ultimate run up in November 2013 (*cough* China, *cough* US Fed Review)? No? So you think that is air that you are breathing now, Neo? Hmmm? Interesting.
May 13, 2014, 11:27:15 AM
Nobody is to blame, it is human nature:
So what your saying is that this is the best time to buy? May 13, 2014, 11:00:35 AM
Gox
uncertainty about China(no one wanna buy near a ban that might cause a big drop)
People selling stuff, jobs and services for btc, then selling the btc instead of hodling, then increasing the sell pressure
Herd spirit (buy when everyone is buying, sell when everyone is selling, stand-by when everyone is stand-bying)
uncertainty about China(no one wanna buy near a ban that might cause a big drop)
People selling stuff, jobs and services for btc, then selling the btc instead of hodling, then increasing the sell pressure
Herd spirit (buy when everyone is buying, sell when everyone is selling, stand-by when everyone is stand-bying)
May 13, 2014, 10:28:34 AM
Nobody is to blame, it is human nature:
May 13, 2014, 10:16:56 AM
It was 800+ before the whole gox and china bs. It seems like they took us a step back with all that has happened.
Coincidentally, gox was the original exchange and set the price. China got us up to 1000+.
The negative news probably did get more people to take notice in btc (many wanted to restructure btc exchanges since gox went down).
This shows that people are willing to restucture and rebuild. Did China and gox do their part with btc and now it is time for a new infrastructure?
Coincidentally, gox was the original exchange and set the price. China got us up to 1000+.
The negative news probably did get more people to take notice in btc (many wanted to restructure btc exchanges since gox went down).
This shows that people are willing to restucture and rebuild. Did China and gox do their part with btc and now it is time for a new infrastructure?
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