This market is completely fucked. Right now we are simply watching it getting it destroyed. Bitcoin is becoming worthless.
Nobody around me talks about it anymore let alone considers investing in it.
What sane person would put money in a market where he is guaranteed to get dumped on the next day?
The dumpers are destroying the market. It's that simple.
They will keep doing it till we can't go lower anymore. Only then are they happy and will move on.
exactly. it is really weird that the usmarshall service had a better understanding of timing an auction than most (?) of us in this forum. different to the "the auction will bring prices down to 250" screamers, a good part of the speculation subforum was bullish, even short term. now, that prices went down anyway will make every possible investor careful to just wait a little bit longer to see if it goes down even more. no one wants to pull another draper stunt.
i guess we just have to wait for the final final final capitulation.
i am really tired of this. 2014 rally... damned...I kind of suspect it'll take even a bit longer before that sentiment
really sinks in.
I remember, late last year in masterluc's thread, I was arguing that the next ATH couldn't reasonably be further away than a year. Because: history.
Took me a while to get that idea out of my head for good - which, by the way, doesn't mean I think Bitcoin is doomed. Just that naive extrapolations like "we had a growth spurt every X months, so the next one must be right around the corner" are dangerous to your mental health (and profits, if you trade).
Here's another thought: we keep referring back to 2011/2012 as the "bad years" for price. The argument is usually made that, no way we're going through such a period of (relative) drought again because this time: investments! public interest! everything is different!
Which is true, of course. But that's the reason why price is around $500 now, and not $5.
So I see a chance at least that we will look back on 2014, maybe even 2015, and think of those years as the "really bad years" in the future, not 2011/2012.
(note please, I said: "I see a chance", not "I'm sure that's what's going to happen.)