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Showing 6 of 6 results by ilovedragons
Assumptions:
Evidence:
Implications:
Anyway I'm gonna go back to playing Civilization II now because this current market is boring as all hell.
- Acquiring party needed to amass >100k BTC from somewhere(s) to make the acquisition, i.e. they were not an early investor in BTC
Evidence:
- Timing of rally and then Satoshi Dice acquisition might match up
- Rally from those price points has been described as "unnatural" by some people
- MtGox order book has been borked ever since, ~50k BTC disappearing from the order book like magic, never to return
- www.oprah.com
Implications:
- The rally was indeed unnatural and we will be returning to $65/BTC once BTC supply has a chance to catch up.
Anyway I'm gonna go back to playing Civilization II now because this current market is boring as all hell.
Looks like a hasty emotional copy/paste from Clarkmoody ... 
You know me so well.
To clarify, yes all of this is taken from current clarkmoody D1 chart, so prices on each time range are at the same scale. Just stacked them horizontally for a different perspective, mainly to show that this current rally fits in well with the continuing downward trend and is perhaps even expected with respect to both timing and strength.
EDIT: Accidentally said H1 instead of D1.
http://i.imgur.com/7qktcYJ.png
Deal with it, bulls. We're stuck in an infinite loop, $0 imminent, etc.
Deal with it, bulls. We're stuck in an infinite loop, $0 imminent, etc.
I'm not the conspiracy type but did anyone else notice the price of bitcoins on MtGox crossed $66.60 for the first time since the April crash on July 4th, the day this countdown was set for?
I mean, what are the odds of something like that?
EDIT: Just did a search for the image on this page and apparently it's a part of an art piece by Alejandro Guijarro called "Momentum." WHAT DOES IT MEAN?
I mean, what are the odds of something like that?
EDIT: Just did a search for the image on this page and apparently it's a part of an art piece by Alejandro Guijarro called "Momentum." WHAT DOES IT MEAN?
There are four categories of people who are selling right now:
1) Those who are freaking out because they believe Bitcoin is entirely downhill from here
2) Those who are freaking out because they are relying on cashing out before the market recovers to pay the bills (over-invested)
3) Those who are emotionally weak and are panicking solely because their coins' value is decreasing
4) Those who are day trading trying to make a few bucks off the market panic
1) Those who are freaking out because they believe Bitcoin is entirely downhill from here
2) Those who are freaking out because they are relying on cashing out before the market recovers to pay the bills (over-invested)
3) Those who are emotionally weak and are panicking solely because their coins' value is decreasing
4) Those who are day trading trying to make a few bucks off the market panic
I think a large segment of the market right now is a mix of categories 1 and 4. They think there is potential for growth, but we're still (even right now) overvalued from the bubble. The price will reach these levels again, but it's too high, too soon, so it's a good idea to sell.
I'm not saying I agree, but these people do exist, and their reasoning is valid if you make certain assumptions. (Interest and volume are way down, supply keeps increasing, and we have significant regulatory hurdles ahead.)
Re: Getting my coins at coinbase because they are only $103 there!
That's not the same. It is always easier at the beginning.
When the price was 100 - 100 USD, a lot of people wanted to sell, and the price went down.
But now, at 80 USD there is a lot of people that believe in bitcoin for whatsoever reasons and are willing to buy every bitcoins @60-80 USD, so the price will not probably go lower.
When the price was 100 - 100 USD, a lot of people wanted to sell, and the price went down.
But now, at 80 USD there is a lot of people that believe in bitcoin for whatsoever reasons and are willing to buy every bitcoins @60-80 USD, so the price will not probably go lower.
The same could have been said about BTC @ $100 though. I can't count how many times I read "cheap BTC" and "buying opportunity" every time the price dipped below $100 these past few weeks. Will there be some resistance to going as low as $60? Sure, but will that resistance break like it did for $100? Only time will tell. People are scared right now, and despite good news bearish indicators continue to pile up.
I myself tried to buy 10 BTC on Coinbase last night but apparently I have to wait for my test buy of 0.2 BTC @ ~$93 to clear on Monday. D'oh. Hopefully prices are flat until then.