I generally think of market price movements in terms of the madness and delusion of crowds, rather than the actions of lots of individuals. Does the mob have a memory?

Please don't tell me you believe this lol we are going nowhere near them figures for a long time there is no money coming to make them figures a reality my little sugar plum.

Yes a lot of us believe we are changing trend but that is not what you wrote you was saying it can hit 2500-5000 in a few weeks maybe months i am happy to see this but i find it near impossible lol

To many bag holders be dumping well before then your last statement although changed an awful lot has a greater grasp on reality once we get to 300 it will be a good sign if it holds.

Stick around these guys will teach you what you need to know

Uncertainty is the only constant.

But this year will be a lot more fun if the price breaks out of the log downtrend definitively, even if just to float around for the rest of the year. The market needs to know what a bitcoin is worth - 1200, 160 or somewhere in between

come on bulls, push it a little bit higher, dont disappoint me now.

just reading "elliott wave principle" and came across an interesting point. Market reversals don't happen on high volume and with strong acceleration, they tend to happen when the extremes have finally been exhausted so volume decreases (imagine a bull run hitting it's peak, as we may have done now mid-term, the bull runs out of breath and gets exhausted).

Also key to note is that during final stages of bull markets before reversal, market participants when polled show demonstrably more optimism than at other times in the market. Basically the more you "believe" as a mass, the closer you get to being delusional and running out of steam, after that the law of gravity comes into action. The same would apply to the inverse. For example, once you lose everything, the only way left is up!



RE price, I think bitcoin potential price needs to be totally re-evaluated. For one, the market has matured and the crazy volatility of the past has been gradually decreasing. More importantly, Gox is out of the picture now, and all the previous predictions were based on sentiment and information that has been skewed by a skewed exchange.

Also important to note is that as price increases, the ability to affect the price by adding more money becomes increasingly difficult.

10,000 USD per coin, would make bitcoin only 0.18% of the global money supply (M2). I think this magic currency has the potential to play a much bigger role in global economics 

So you're inviting people to combine bitcoin TA with belief in the illuminati and control by freemasons?  No wonder people aren't taking bitcoin seriously yet.

You are deluded 

Is 5 years a reasonable estimate for Bitcoin to become a global legitimate trad-able asset class? - for individuals and institutional capital eg pension funds?

Serious question

No.  Earthling is 100% correct.

Sincerely,

  ~Your Beneficent Reptilian Overlords

Good morning Bitcoinland. Still over $290 I see.

Seems to be a little resistance at $295 though.

Time for good strong coffee. Yum.

 

Oh and a trillion $ per btc tommorow minimum

thanks... for me the more I try to think like a whale the more I imagine they have more to gain by continuing the downtrend.

and no one has any money right now to buy moar.

what happened with the wall in btce?

I wear a ballcap with just the BTC logo on it, not the word itself. Those who recognize it are usually predisposed toward Bitcoin and will often stop me to ask about it and my involvement with it.

Toronto being a hockey town, most people think it's something to do with the Boston Bruins though. LOL

It's kinda like younger women. If you hit on them, you're a dirty old man. If you let them hit on you, you're a cool old guy.

If you shove the subject of Bitcoin in people's faces, you're an evangelizing pushy nutter. If you let them approach you first, you're a knowledgeable aficionado.

 

you are full of insights, aren't you.... you

Using excel to predict prices for an unstable market. Genius! Seriously.. take Econ 100 at highschool or something because.. wow.

Honestly, I have no idea. I predicted we'd break $300 this week, but I don't think that's gonna happen now. I hope it stays between $280 and $290... though below $100 would encourage me to buy. This strange little thing called bitcoin is stronger than lots of government backed coins. I live in a place where one unit of currency is 1/7 of a dollar. We dont make pennies anymore, the're too expensive. So, that makes the smallest trade-able fiat (5 cents) worth... 2,000 satoshi. If we still made pennies, they'd be worth 400 satoshi.
I live in what could be considered a third world country, yet some people here are wealthy. I am convinced that the poor live in the past, and the wealthy in the future. How did society look like 1000 years ago? Go to a poor place, you'll see (a little tainted by modernity, of course). The wealthy here have heard of bitcoin. Some are excited. I believe bitcoin has a guaranteed future. I dont know what price it will have, but I believe it's use will be widespread.

And I want to look to my friends and say "see? I told you so  ".
I dont care if I lose the money, I think I wont (I bought BTC0.13 at $270)... but if I do, I am sure it will never be worth $0.

This is getting a bit scary.... Looks like ~300 was a top and the bear market continues.  Could a new low take us below $100?  What happens then?  What do you guys think.  No bulltards or Beartards.

About 10,000 coins were sold on Bitfinex alone to only bring us down $10, but the bid side remains the same. Take that info how you see fit. I know what that means to me.

What is your basis?

This experienced trader makes a valid point for something otherwise:

https://www.tradingview.com/v/iWXmzaeG/

I see bitcoin like the Wright Brothers' Flyer One model:  a notable experiment, but which still needs many improvements and bug fixes (some of them with no solution in sight) before it can become a viable commercial service.

Unfortunately that experiment has been appropriated by several groups for purposes that it was not intended for, and was not ready for; the latest one being as an investment/speculation instrument.   It is as if some entrepreneurs in 1908 had tried to set up airlines with fleets of Flyer Ones, or sell Flyer Ones to the general public by claiming that one day they would be in high demand and therefore extremely valuable.

Save yourself some life force and hit ignore.

You know your market is fucked when a scammer steals almost as much USD worth of BTC ($12M) in one go as there is in bids on the orderbooks of all major exchanges combined (bitstamp, bitfinex, BTC-E, Coinbase, Huobi, BTCChina, OKCoin = around $15M).

Who stole 12M from who??

in the last 24h

Last week everyone was so optimistic. What's going on?

Pointen taken.

More longs opening are slowing the fall. Which is very bad..

Have the Chinese recently been more or less bullish than the rest? If equally or less, I think we have yet another ride down tonight in 1-2 hours, once they wake up to this shit. :/

Miners will leave well before $100

Lol, m8, go ahead, ignore obvious facts, im not a "bear troll" i just warn people here, because i do hate those fuckers who control btc market, they fuck it when they want and in any hole they want, now they are creating the final shake off before a true reversal. Its funny and sad to watch how people are getting bulltraped following wash chinese volume  over and over again. I used to do same thing when i was a noob trader, but now i figured out where is the real "pump" and where is the fake one like that crap which is happening on goxobi/okgox righ now.

Last week you told us you see bitcoin only going up. While most people told you that this might not happen. Now you are speculating on lower prices. Don't get fooled by the market forces.

We are in uncertain terrain, currently. And I believe we won't pass it very soon. After that, either direction is possible. I tend to believe, that if we touch $210 we could see a heavy flashcrash (recent longs margin called) with almost imediate recovery. But we could also see a rise from here (we already visited $235) or possibly some bucks lower.

tl:dr; Keep some ammo. The market is completly uncertain atm. Observe what's happening. Don't jump on every bandwagon.

another day. another log entry
Swap Payment on wallet deposit   0.1172816

no idea why they are still borrowing my coins at rates .1999, .3999, and .4999% daily when they could easily change out for the markets 0.07 but whatever i can't complain

Quite sure you'll be dead before bitcoin, it's how new paradigms are mainstreamed, the old wrong dinosaur defenders die off.

May I offer you

"THE LIST"

Instructions for Newbies:
Go to Profile
Then Ignore user options

Copy and paste the above names into that magic box.

Presto!
No more trolls!