Quote from: znaky on March 22, 2014, 03:19:15 PM

Quote from: oyvinds on March 22, 2014, 02:33:53 PM

It seesm everybody and their sister is looking to buy at that $400 level. I suspect that final capitulation may be closer to $200-250 but I know nobody wants to hear that.

Why do you see a lot of buyers at $400 as a sign that the final capitulation will be < $400?

Because everyone has $400 range as their dream price, not many are willing to invest at prices above this, therefore prices slowly grind down to $400 range, everyone gets their buy-ins and there is a little price hike as a few panic buyers also join the market. However, now we are back up in upper $400 lower $500, and nobody is willing to buy and hold Bitcoins at these prices. Those that got in lowest start to take profits, the price subsides. Those who got in at higher prices sell to avoid becoming bag holders, the price subsides further and before you know it we are back down at everyone's dream lower $400 range but in the midst of low volume market apathy. Things can only go one way after that.