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^ a short term uptick was necessary and expected...before resuming the overall medium term downward trend...the pattern remains: lower highs and lower lows...that pattern has not been broken yet....
How can you say that after checking out the 12 hour chart, such as below:
http://bitcoinwisdom.com/markets/mtgox/btcusd
We have just seen the biggest move up for 2 months. A new pattern is emerging. At some point reversals have to happen, unless it is in terminal decline. I remember watching the Enron share price in late '01 (didn't have any, fortunately) and it just kept going down and down. When it hit $8 the Bloomberg guys were having a fit saying that it must turn around soon. It didn't, the company collapsed and it went to zero. Unless Bitcoin is in terminal decline we will not see a permanent downtrend. In fact the last four years has shown it is the ultimate financial instrument on the planet. I think it will remain so, based on remarkable fundamentals, and so do many other people.
Enron. NOT Bitcoin chart:
http://www.ecotao.com/holism/add/enron/Enron_whole.jpg
You're wrong
You all should know that this is absolutely not bullish in short term. Strongly in negative BB zone. I think this will soon hit below lower bollinger.
http://www.sierrachart.com/image.php?l=1366025446797.png
http://www.sierrachart.com/image.php?l=1366025446797.png
confirmed manipulator
Looks like it's "Dump & DDoS" time again.
Doesn't seem to have worked though, no gox lag and no panic (yet).
Doesn't seem to have worked though, no gox lag and no panic (yet).
Fuck, this btc buisness is big stress
i not get any sleep, and need go to work also ;( lol
i just sold at 88, but if i have my usual luck
it will go back up now
if you're going to panic sell at 88 then find a good place to sell all your coins at 95+ when it goes up and stay out of the market for a little while
I managed to get 6 coins between 86-89. Only placed the order about 30 minutes ago
I
i just have a 3k$ buy order go thru at 88, hanging there for 1hour
interesting if that was bad or good
my 91 open buy order not go thru , lol
strange
interesting if that was bad or good
my 91 open buy order not go thru , lol
strange
I
So far I'm pretty impressed by the market through this. Its been over an hour and it has been a very slow decline. A couple panics but not a ton.
I'm pretty sure it's not going to look so pretty once the lag is over
Gox lag @ 18:20 
The other exchanges are trading in real time so far.
The other exchanges are trading in real time so far.
bitfloor seems slow
I'll give you an analogy:
Microsoft were the biggest tech company for a while because they were the first to introduce the PC.
Bitcoin is the first cryptocurrency so everyone jumps on board.
But then Apple came along and innovated its way to a higher market cap than Microsoft.
Some alt currency will come along, and people will want to jump in early to catch the rise up and you'd just end up with heaps of different alt cryptocurrencies popping up everyday all driven by the desire of their creators to essentially make money out of thin air.
Microsoft were the biggest tech company for a while because they were the first to introduce the PC.
Bitcoin is the first cryptocurrency so everyone jumps on board.
But then Apple came along and innovated its way to a higher market cap than Microsoft.
Some alt currency will come along, and people will want to jump in early to catch the rise up and you'd just end up with heaps of different alt cryptocurrencies popping up everyday all driven by the desire of their creators to essentially make money out of thin air.
You answered your own question with this example.
How companies entered the market to challenge Microsoft? Many. How many succeed? A couple. Why did they succeed? Innovation
So the people who invested money they could lose at over $200, are definitely holding. This is going to create a bigger scarcity than before, as they won't sell up until bitcoin recovers its value. If you look at the asks vs bids graph now, there is plenty of bids but hardly any asks up to $160 http://bitcoincharts.com/markets/mtgoxUSD.html
I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts?
PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama
I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts?
PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama
wishful thinking