Today was the first day in a week where a big wall on OKCoin was bought in a few bites instead of causing downward pressure.
If this was not the bottom for now.. I'd be surprised.
I think there is too much TA talk of the importance of the 550/540$ breach. It takes only one big announcement to get this rocket going again.
Really? I feel like we are constantly getting really good news, and no rally ever to be found. Now Braintree looks to be a test bed for Paypal to start accepting bitcoin. Annnnnd bet you we're gonna drop.......
Coinbase in talks with some ebay subsidiary is just not that big of a news. It is just not final enough to function as a viral news segment which attracts more users.
A year ago every bit of good and bad news made the price move. IMO that was only the case because Bitcoin's potential was not factored into the price. This changed with the run up to 1200$. Now Bitcoin has landed and is beeing adopted by so so many companies. A year ago it was all HACKERMONEY here DRUGMONEY there. Today you can allmost buy anything with it and it's backed by big tech savvy names.
Changetip on all the social media stuff. Big progress in bringing Wallstreet into the game. More & safer exchanges. BTC ATMs all over the world. Millions of $ / € / Yuan on the sidelines with a 1200$ peak in mind.
~ 500$ sounds like a good entry to me.
China is dumping again, and Bistamp follows.
It looks like there is alot resistance. Might be the last attempt to test the downward direction
A year ago every bit of good and bad news made the price move. IMO that was only the case because Bitcoin's potential was not factored into the price. This changed with the run up to 1200$.
My reading is rather that the "Western" marked defined the price a year ago, but then China took over, so that now the only news that move the market are news that affect the Chinese traders.
Adoption by western businesses is irrelevant to the Chinese. (Not to mention that it is BAD news, since it should mainly encourage old holders to sell their coins, through Bitpay/Coinbase, whereas non-bitcoiners should not be impressed by it.)
I have no doubt that the rise from ~130$ to ~1200$ was entirely due to the opening of the Chinese market. And the Chinese may have been responsible also for the rise from ~15$ to ~130$ in early 2013, that coincided with the hiring of Bobby Lee by BTC-China...
China is indeed a big factor nowadays. But if China played that big of a role, just wait until other parts of tech savvy asia start a bitcoin bullrun
Any feedback from this shit?
I like it, but you can win much with logic in here.
You should open a new thread maybe or post it on reddit to get more exposure
I wish you good luck on finding a job in Bitcoinworld!