I_bitcoin
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December 18, 2013, 12:52:24 PM

I don't think it will go much lower anymore in the short term. Even if they sell it to zero in China does not mean that the west would not have competition on who would get the cheap coins. Short term we are very oversold and it is only a liquidity/waking hours issue to go back up. The fact that there is a huge arbitrage coin influx from China dampens it a "little bit", though, but this is already in prices in the west.

The exponential trend (now at $437) was touched, which means that longer term bitcoin is no more overvalued. I regard this as a good entry point and have bought thousands of bitcoins yesterday and today, closing all speculative short positions at a nice profit and gone speculative long with funds I need in 1-2 months.

My last bid in Bidstamp is sitting at 421.42, please somebody sell into it! Smiley

Welcome back Risto! Wink