Quote from: bitrider on January 05, 2014, 03:57:02 PM

Quote from: arepo on January 05, 2014, 03:23:47 PM

Quote from: JimboToronto on January 05, 2014, 03:20:11 PM

Quote from: DieJohnny on January 05, 2014, 03:01:26 PM

I am not sure we have even seen full bear capitulation yet.... it is coming

This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66.

Get over it. Capitulation was at $455 this time around. It's time to move on.

Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on.

this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it.

--arepo

+1 Having watched this for a couple of years now, this is my read as well. $450 might be the new low, but I'm guessing we will test even lower to flush out the easy money players. Remember that there is plenty of big money that wants to get in the game and as long as there are weak hand players - and there are lots of new ones - they will make repeated efforts to drive the price to lower entry.

This will be healthy for the long-term bull trend, but looks very scary if you don't know what is going on.

That said, I'm not in fiat, and will take advantage of any big drop with new money.

i agree with you but i suspect that $450 is a very solid bottom.