Quote from: MatTheCat on August 16, 2014, 10:34:15 AM

Quote from: inca on August 16, 2014, 10:11:58 AM

They do get it. All the bears and trolls who have crawled out of the woodwork bleating the end of the world (when it is obvious this move down has run out of steam) believe in bitcoin just as much as you. That's why they want your coins.

LOL!

Is that what you call wishful thinking or is it rather more self delusion?

No it fucking aint obvious at all m8.

It is anything but obvious.

In EW terms, $545 should not have been taken out in order that the bearish Wave 4 be considered as over and done with, leaving us somewhere in a wave 5. But since we are now sub $500, it seems like we are still in wave 4.

Wave A $1160 - $340
Wave B $340 - $680
Wave C $680 - Huh

(HINT, generally lower than $340 would be expected over the course of time)

For Bitcoin to go back up, someone is going to have to start buying. Who is going to start buying shit tons of Bitcoin? The leveraged long traders on Bitfinex who have been totally liquidised to the tune of millions of USD? The bag-holders who are hovering over the charts looking on a chance to break even. For the price slide to stop, fresh investment capital has to come into Bitcoin and from where it is going to come, is anything but obvious.

This.

And Ethereum, even if they are selling off exchange, are unloading to people who will also likely consider unloading (at least some of them).

And Dell, Wikipedia, etc. retailers have to convert their coins to fiat to pay employees, cover expenses, etc. (They should just do things in BTC, but we made the mistake as a community of courting adoption before laying out the groundwork/infrastructure).

And we're one decent piece of FUD from cascades.

And somebody is technical trigger hunting on the market.

BUT... GABI should be looking to buy soon and the Winklevi ETF should garner some attention.

Ergo, it's not all doom and gloom, but it isn't like there is no reason to be concerned at all.