Re: Things are happening behind closed doors, very important for Bitcoin things.
Bitchick: there's no more buying going on because the masses understand only one thing: the price is going Up UP UP, hop on the train before it's too late!
Which is obviously not the case while a bubble deflates.
Price is at a very healthy level considering how shitty is the current infrastructure and at what price BTC was traded one year ago. Just chill.
I am completely bullish and have not sold anything. I would be buying if I did not have all my cash tied up at the moment.
So yes, just chilling.
I guess I am a little surprised more people were not buying on the Winklevii news. That is all.
Those news (like Cyprus or "Bitcoin is on CCTV") have just a marginal impact on short term price. Very marginal. I wonder why people gives them so much importance, like they need to believe the price of a speculative asset like Bitcoin has some "rational" behind it.
Plus, even if someone that is not yet into Bitcoin decided to invest because saw the Winkle-twins initiative, it will take time for him to figure out how to wire his hard-earned money to Magic The Gathering Online Exchange to trade on their crappy engine.
The fact is that the only significative news is: "the price is consistently going up uP UP!", which as soon as turns to "OMG Bitcoin broke all time high, hop on the train because its leaving the station!!!" leads to media hype and speculative mania -> prices go UP UP UP quicker, and there you have the hype loop leading to a bubble.
The bubble is now deflating. That "news" ("prices are going DOWN Down down!!") are much more relevant to the market NOW than two twins filing a S-1 that may or may not be accepted in the mid-long term. In this scenario people is just willing to realize their profits/cut their losses, and probably look for a better entry point. Just old market psychology at work.