BTC and LTC bubbles look like popping
- Thread starter TreasureHunter
- Start date
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Emanance
Guest
Crashing right now, watch it live: http://bitcoinwisdom.com/markets/mtgox/btcusd.
All the best gentlemen.
All the best gentlemen.
That's what I love about ANX - just sold a bunch at $928 USD. Higher than even BTC China.
E
Emanance
Guest
In USD also, while the AUD is low, double win!
Edited cause I can't read
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Edited cause I can't read
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Yes. I trade in HKD there, that was the equivalent USD price.
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Emanance
Guest
Lots of little bull traps form methinks...
goldpelican said:
That was really cool to watch in real time. I was scratching my head for a while thinking "huh? that was not much of a drop?....China has barely moved?" but that was kind of the point I guess.
You must be glued to the charts to catch these things.Yippe-Ki-Ya
New Member
goldpelican said:
Boss - just curious. If you fetch a good price on ANX for you bitcoins, when you withdraw the fiat from that exchange and try to buy the bitcoins back at another exchange, wont you lose most of your gain due to wiring costs, etc?
That's not what I'm doing.
Honestly - I'm not going to go into much in-depth explanation of my trading techniques, but it helps having a bullion dealer's perspective when trading the stuff. Treat em like ounces.
Honestly - I'm not going to go into much in-depth explanation of my trading techniques, but it helps having a bullion dealer's perspective when trading the stuff. Treat em like ounces.
TreasureHunter
Well-Known Member
capt.sparrow said:TreasureHunter said:Litecoin shows signs of a possible "bull trap" developing:
http://s14.postimg.org/5zxi7j5rl/ltc_bull_trap.gif
Now, compare the above to the one (classical, posted dozens of times every month):
http://www.investinganswers.com/images/asset-bubble-phases.jpg
Once it pops, it can't stop! :lol: ...If we get past this second hump, BTC and LTC may be headed way down south.
Antarctica?
The charts for both look eerily similar to the asset bubble scenario. And because of the bullish madness during the first 2 weeks of this month, we can see that during week 3 it was rather falling back with lots of sideways moves.
Fear phase ahead?
Food for thought indeed and thanks for that very interesting post...
however, in the case of the btc chart you show it would appear as if the 'second hump' is going at least as high as the first one, maybe even higher!?
And this differs from your classical graph of a bull trap where the second hump is somewhat lower than the first one...
The current view of the price graph supports my point. note the height of the second bump
http://forums.silverstackers.com/uploads/1859_mtgox.jpg
Bitcoin works differently than a typical currency and prolly those commodity asset bubble schemes don't work on it either!
I'm suprised to see the wicked moves up and down. How the Bitcoin is playing around with out emotions... I don't know how much forex applies to Bitcoin.
You also have to watch the BTC China prices and the MtGox prices, compare with BTC-e. Differences are quite big.
TreasureHunter
Well-Known Member
Emanance said:
A bunch of saber-tooth tiger traps and mastodon traps and dinosaur traps.
BTC-e prices are so out of whack I ignore them. Just look at them for BTC/LTC ratios.
Yippe-Ki-Ya said:
Never thought I'd see the day when you'd be trading non-physical stuff.
Can all the Paper Pansies start calling you a Virtual Violet? :lol:
Do shares count as non-physical?
End game whether it's gold or bitcoins is a family home. Means to ends.
End game whether it's gold or bitcoins is a family home. Means to ends.
goldpelican said:
Not knocking it, would you prefer Id bought bitcoins instead of PMs off you this year?
I wish you'd bought a car alarm 
Ghostrider80811
New Member
goldpelican said:
Do you know if one can buy BTC from BTC-E? The spread is nice between some of the main exchanges or is this a route bad for US customers due to KYC and AML regulations? thanks!
TreasureHunter
Well-Known Member
Interesting peak for Bitcoin recently: 777.777 USD on BTC-e!
