Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Mervyn_Pumpkinhead
on 15/04/2014, 13:25:54 UTC
If I was speculating, I would sell now. It can go as low as 405, likely at least 460.

Why?

The price goes up and down in waves. Now we went up +50% in short time, so with no particular reason it can go down 10-20%. "If I was speculating" means that I don't try to capture this small waves usually, because the max bet is so small, and gain is so small, and prob of success is not as high as with capturing only the megawaves.

The price will go down, because this spike wasn't caused by new money entering the system, but by moving around of some money that was already in the system. And it's not a lot that's in, so it was only a matter of time when the rise gets exhausted and starts to fall back. I think that we will see some low volume aftershock waves today, and maybe even tomorrow, but it won't be long when the price drops back to sub 400. As long as there isn't new money coming in, then it's a bad call to just sit on BTC. Only thing to hope for is that the drop will be fast and not slow and ugly, like it has been for the past months.