Quote from: jehst on April 16, 2015, 12:09:21 AM

Quote from: Chef Ramsay on April 15, 2015, 10:02:36 PM

Quote from: McHaggis on April 15, 2015, 09:57:21 PM

On another note, what does everyone think of the chances of BTC putting a double bottom in at ~$180 and then beginning a rally?

It's becoming quite the ubiquitous mindset around here that I bet many have buy orders in around that level which will shoot the price back up should it reach this area. Likely, others are stacking orders all the way down to the low 1xx. I imagine this would be a brief unfolding and then the market should be clean of selling pressure, I hope.

The market will never be clean of selling pressure. The protocol is designed to award 3600 new coins per day and some of them will be sold. Market participants are incapable of pricing this in, so they get burned over and over.

At this point in time and after what we've witnessed over the last 15 months, clean selling pressure means minimal pressure as the last remains of the weak stomachs have been purged. Don't be one of them.