Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
They said : "bitcoin went too high too fast, big bubble danger, stay away"
That's pretty bearish, especially if you believe China has been leading this huge rally to near $1k. Hmm...not going to say it's time to sell but this certainly isn't a good entry point.
Bitcoin is currently not sustained by people who are influenced by mainstream media. Even in China. So I don't see this as bearish, it only reflects where we are at right now. The media is right to warn people, but the intelligent person knows that the media more or less doesn't have a clue.
Is this a serious comment? Where do you think new money learns about Bitcoin? This certainly isn't your earliest adopters buying BTC up to $900.
The vast majority of our friends (not techies or by any means "early adopters") were not interested in investing at $60, they were bored of us and our Bitcoin rambling.
Now that we're at $800 and Bitcoin is in the media, they are desperate to buy. If they all do, we will shoot up to $2000 or $3000 -- I absolutely agree with the bulls. However, be careful what you wish for. We may well crash in a blaze of glory, and most will be burned. TBH I have much higher hopes for bitcoin. Something that appreciates more sensibly year-on-year is much more valuable to all of us. $3000+ by the end of next year, for example would be very exciting. $500 and restrictive BTC regulation in China -- not so much.
A certain someone called a 2300 top with a 500-600 range bottom might be lower can't remember the exact numbers.. I can't know if we're overbought but it feels that way a bit, this kiddie coaster as I call it is growing in to a calmer period since..october, with a fairly large but stable window of 770-850...I think a combination of arbitrage account setups and new money coming soon has the market holding its breath..