Quote from: pbody on December 06, 2013, 07:42:15 PM

Quote from: sgbett on December 06, 2013, 07:35:03 PM

To me it looks like bear trap in awareness phase. Mania phase is when joe public starts buying crazy. I realise the 'financial news' can only ever be trusted so far, but if you have been paying attention its all there...

Whats all there? That Bank of America is bullish and that the Chinese are allowing people to use bitcoin at their own risk?

The the whole point of bitcoin is to avoid the banks.

Until now the 'institution' never took it seriously. General sentiment in the financial news of late would suggest that we are at "institutional investor" stage. Which is there on the chart OP posted. As you see just as institutions get on board (with orders of magnitude more funds to invest) there is a dip in price, this is caused because to the early adopters, that money is unimaginable wealth, and the gains they are seeing make it almost impossible for them not to take money off the table. This is all chump change to the institutions, and they know it so they take advantage.

I'm curious as to why OP thinks we are in 'public' phase. How many people you speak to know about BTC? Me, not many. anecdotal sure.

Your stories about why the price did X on a given day, or why one news snippet really matters more than any other. Individual article like that are written post-hoc and are about as worthwhile as any of the posts on this very forum (including this one!).

Traders win and lose, and the ones that win tell themselves how great they are, and the ones that lose lick there wounds and blame rotten luck. At least the ones that lose have got it right.

Me, I buy stuff I believe in and hold for the longest time. Skimming a little here and there doesn't hurt either.