To me this is classic head and shoulders pattern - we should prepare for further losses in the next few days.

A lot of the 'non-traders' are going to lose interest and cash out if they have made a profit, or cut their losses if they bought at the top. Things will become more stable after Xmas IMO and we'll be back to business as normal, most of us will be happy when we buy in at low, low rates.

As for the tax issue, this has always been the biggest threat IMO - they will introduce it quickly and I wouldn't be surprised if it's given it's own special status with rates somewhere above the normal capital gains / commodity tax rates.

I still love the concept of bitcoin and even though I see big challenges ahead I'll be investing again when it reaches a reasonable rate.

Those bots still running on BTCchina, wonder if their owners have taken into account the new fees?

Why are the polls on here are always so bullish, no 200 or 300? Not even 450?

You're right - sorry

we're not there yet.

$238

Every bone in my body is telling me this is the moment to sell again - but I just can't hit that button.

Mayzus do btc-e, and we know how that is working out.

Is there anywhere you can see ALL open orders at an exchange?

Before than can happen there will have to be some more regulation in place, which is a good thing imo, legitimize it. Pity it not until mid 2014 though, seems such a long way away in bitcoin terms, does sound like just a marketing ploy with that timescale.

But he does tend to get it right.

Ok, been out all evening, just got back, what's with the wall on stamp - someone proving a point or something?

But won't he have to sell on his return to turn a profit, or will he hodl?

What kind of software developer leaves this out? Not someone interested in the longevity of btc's that's for sure! If we don't pay the transaction fees (which are tiny) then miners eventually don't get paid enough to make it worthwhile and we all lose.

I'm really surprised this didn't cause more of a stir

http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/

If the rally was led by btcchina last night, can we trust it? Some bots are still using btcchina as market leader. I don't know what I'm watching anymore. Is there massive manipulation going on or is the market as confused as it looks?

I'm 'cowish' too - udderly confused

Who is this guy fontas? You think he really has the 400k to dump?

(reading btc-e trollbox - http://trollboxarchive.com/search.php?search_type=all&search=fontas )

Can you belt up about cars please, start your own thread, this one is long winded enough.

Just went 100% fiat - had to, no way I can keep tabs on this over a family Xmas. Gutted

Don't let it crash / choo choo while I'm away please

Merry Christmas and a Happy New Year to all!

Someone quietly but consistently dumping a whole lot of coins on gox.

Yeah, nice neighbourly way to do it

no

You think China is anywhere near over, this will hang over us until end of Jan when the deadline for them getting their funds off exchanges hits.

Why so much more volume on btc-e? Api's not working?

If nothing happens now today after what Loaded said I'll be gutted - It doesn't really matter to me whether it's a pump or dump, just please something spectacular happen while I've got all day to watch

Glad someone still watching the market

He bought btc, he can sell them on any exchange he chooses.

Look at gox guys - hit 725

well...yes...

+1

(we really do need a 'like' or 'thanks' button on this forum)

So little volume, where did everyone go?

Too many bears convinced themselves sub 400 is coming so have stopped trading? (I'm one of them but tbh I know nothing and even if I went 100% btc it wouldn't make any difference to the market, but if there were 100 of me, well, that would make a difference - I would so love to be a bull again but can't at this level, my gut won't let me do it.)

Or more simply that everyone is enjoying the holidays?

I'd love to push the button on something like that... the power... the 'I think I may just have a cup of tea before I unleash chaos, muahahaha'.

I've no doubt manipulation is going on, that's what happens when humans trade in something with no regulation. As a trader I need to be aware of it and profit from it when I can. It does make trading difficult atm though with such low volume because all it takes it ONE whale to sell a couple of hundred btc and all of a sudden we're crashing.

My biggest fear for btc in the very long term is not manipulation but the 173k btc the FBI have confiscated from the closing of Silk Rd. I understand Ulbricht has claimed the return of the btc, claiming that as virtual currency they cannot be forfeit as a proceed of crime, but seeing that judges confiscate anything of value in such cases he's on pretty thin ice. I believe these coins will eventually end up in the hands of the US government who will have far too much power - just think, 173k coins all sold on same day. It's a while off (I've no idea when this is coming to court or how the US government usually deal with liquidation of confiscated assets) but this is what we should be worried about.

How much of a hike?

It's pretty funny really, people here still going on about what they would like to happen to btc, or what is good for btc - it seems to me that over the last few weeks that noble ship has sailed.

People buying now are purely speculators who couldn't care less about btc long term - this is a gold rush. Except it's one that can be shut down pretty quickly by regulation or other scenarios - so a high risk gold rush. Nothing more.

People here simply want others to buy more btc, so they can sell their btc for more, no-one gives a wotsit whether a single satoshi is ever spent or used in commerce. It's sad as it was such a good idea too.

Happy New Year!!

(may have had a glass or two of wine )

So, anyone actually know someone going to the party?

Gox been down 20 minutes? Trading been so slow recently I didn't even notice

What do you mean?

Lol, was just writing that we've entered 2014 in a calm and stable way, hehe, I see Gox has just kicked off

Happy New Year everyone - let's make 2014 the year of the btc!

Let the games begin!!

Meanwhile we have some movement on Gox.

p2pool looks very interesting and something we should all be involved in to help safeguard the integrity of btc. When I first found out about btc I assumed mining was similar to the old SETI program you could run in the background on your computer to help find ET life out there. I was pretty disappointed when I realised it took investment to participate effectively. I really liked the idea of it being able to withstand any kind of onslaught due to the multitude of miners all around the world. I suppose Satoshi didn't anticipate large dominant mining pools, pity something can't be written in so individual, solo miners could contribute in some meaningful way.

PS. I've got nothing at all against the big mining pools, we need them. I just think we need small independent miners too.

I've only got 50% of the btc I should have at this stage because I can't shake this darn bear off my back. I see the evidence of a stable rally (well as stable as btc gets) in front of my own eyes but why do I not believe it? I see Chinese manipulation everywhere, and I think the association with p.com will be bad for btc (luckily imo mainstream media hasn't really picked up on it, but if anything else interesting happens it will be mentioned like silk rd used to be). I still think we will see sub 400 before Jan 31st deadline.

What is wrong with me? Someone slap some sense into me please.

Apparently this is the 80k just stolen from bitpay hack - https://blockchain.info/address/1Facb8QnikfPUoo8WVFnyai3e1Hcov9y8T

Bitpay just confirmed via twitter, its FUD.

Someone is in trouble :p

http://uptweet.com/viewStory?id=1755

Looks like he's still insisting something is going on with $80m, seems odd, he seems pretty reputable. More to this than meets the eye I think, maybe his twitter has been hacked :p

https://twitter.com/petertwynn

That's what ignore does :p

Yep, that set the scene for the next 8 hours.

You mean a donkey like in poker? You think it's a bulltrap?

http://www.directoryonlinepoker.com/poker-dictionary/#Donkey

Don't think so, today is going to be a good day! Choo Choo

Oh sorry, missed that bit... & yeah not good associations in poker, maybe choose something else :p

BTC-E sell orders very low - around 3.5k - isn't it normally in the 9-11k range?

OMG gox 1000!

1800k buy?

So the Stamp/ btc-e  holiday deposits will arrive today, starting in a couple of hours.

Gox won't have any new ones today because it's a holiday, what about tomorrow?

I think Gox has easily enough already on it's books to keep healthy today, it's fresh panic buys we need to really push this thing through the resistance. Tomorrow will be soon enough though

Excuse me!

Great time to buy back in, I've never got fiat at these moments.

15 minutes later

PANIC BUY!!!!

I love btc.

Interesting article about the situation with Chinese exchanges from The Financial Times.

http://www.ft.com/cms/s/0/b7ae1ea6-76ce-11e3-a253-00144feabdc0.html#axzz2pdqxJFCP

If you don't like the look of the link, search for

"Bitcoin bounces back in China to top $1,000 By Simon Rabinovitch in Shanghai"

Ahh sorry, sometimes you only get one or two clicks on the site before that pops up and that long link prob has my activity saved. Try coming in fresh from a search engine?

Hehe, I can see a film being made about this some day - the day people lost / made millions due to a 7btc bet

So really it's a case of who's wall is biggest? 7 vs 1?

TBH guys, this is a pretty silly bet to have when you don't know who the players are. Even sillier if you are the whale considering manipulating for this bet.

Are you guys watching the same charts as me? That 'recovery' was led by Huobi. Btc-e picked up on the Huobi buys v quickly, with stamp begrudgingly dragging it's heals responding a minute later, meanwhile Gox just looked stunned.

10% is not panicking in my book, when I panic I go 100% idiot mode

Not panicking today though, today is all remarkably predictable with a few trend lines.

Is there anything new in that 'news'? Isn't it the same situation as announced in December just clarified?

I didn't see a flash crash, I saw a correction.

I suppose we'll all know in 24hrs.

You may wanna take a look at the poll, of course it will be either above or below 850

They're all happily waiting to buy hoping for a major crash, could be carnage if they all decide to buy in at once

Wow, very positive, worth 10x keiser

I think this is a game changer - remember what happened the last time we heard news like this.

http://www.cnbc.com/id/101316945

I'm still bearish regarding China, but for the rest of the world this is a green light. Interesting times ahead.

Funniest one yet.

Anyone else seeing a triple bottom on Stamp?

http://www.coindesk.com/worlds-first-insured-bitcoin-storage-service-launches-uk/

Maybe encourage a few whales to take the plunge? I guess fear of theft and misunderstanding of paper wallets and how secure they are could have put them off.

Nothing imo, I use Armory and I'm happy with it, but until I fully understood it I was dubious about security. In fact that was the thing that put me off getting in a few months before I actually did, it took research and I just didn't have the time.

Bitcoinwisdom just replaced BTChina with Huobi - about time!

Huobi went the other way

I have no idea which way this will go by tomorrow. Could be anywhere, 50/50 for me for now.

I quite like this chap

http://www.bloomberg.com/video/overstock-com-now-accepting-bitcoin-M4_Os2maQoSY8ECIZ_gZQA.html

Good support and resistance, both bulls and bears are pretty quiet. I call another couple of days of going sideways, although all it would take is one whale to kick things off, in either direction.

China just woke up and they are buying

Wouldn't it be good if they did this every weekend, make trading much easier.

Eaten, pretty strong bull sign, re-assessing now.

FUD, it's API went down for 10 minutes or so, it was still trading.

Wow, this market is crazy, we don't even know what the situation is really and people start panicking. Seems like good news to me but hey ho.

Chinese don't seem to like it and Huobi is driving most of the btc trade worldwide atm. I expect a large bounce back when everyone calms down.

I was just reading the trading view chart chatbox and I think the problem here is not for Chinese, they can still deposit. It's a problem for anyone who was using the exchange from outside China.

Still trying to find out what is going on. But this is very bearish.

Have we got to the point ANY news will make it crash? 780 imo.

The only problem with that is the guy from bitcoinwisdom no longer gets to show his ads, which makes it worthwhile for him to continue to offer the service.

Fine for me too.

Dunno, this bounce is very weak. I'm thinking around 780 will be bottom.

I can't believe that 850 wall on btc-e it's already down to 270, it was around 900 to start with?

Explains a bit

http://www.coindesk.com/chinese-government-backed-tv-program-bashes-bitcoin-outrages-community/

I think we're underestimating the effect of this

http://www.coindesk.com/chinese-government-backed-tv-program-bashes-bitcoin-outrages-community/

China still owns the majority of the market, and any of 'our' news like Overstock really doesn't matter to them.

"eToro will execute Bitcoin orders four times each day"

Will be interesting how that pans out.

There is a live conference going on in China atm, they just said

"Japanese public television:
There is a question about bitcoin, as China's central bank on Bitcoin development in China how to treat? Do you think bitcoin will bring what risks? The Chinese government should prohibit the use of bitcoins it?
2014-01-15 12:22:09
Shengsong Cheng:
About Bitcoin problems, the People's Bank and other five ministries jointly issued a notice, I would like to emphasize, first, we propose, is not the true meaning of bitcoin currency. Second, we prompt the Bitcoin risk and made the request.
Bitcoin is a specific virtual goods. What I understand is called money? The first is the medium of exchange currency is widely accepted by society as a whole medium for the exchange of commodities. Monetary developments in the history of thousands of years, once the physical currency, the final form of physical currency is gold and silver. Like Marx said natural gold is money. The most essential characteristic of money is a medium of exchange and measure of value. Itself to be valuable, so it can be denominated. Since gold production is limited, it can not meet the growing social and economic development, so the gold standard collapsed. From the later seventies of last century, the world monetary credit system completely behind monetary credit system is a powerful force of national credit and forced the country, so we put the national currency, credit currency called legal tender.
2014-01-15 12:22:27
Shengsong Cheng:
We take a look at Bitcoin, Bitcoin is not having the characteristics of these currencies? As far as I know, the vast majority of countries do not recognize the Bitcoin currency status. Currency in circulation in addition to the media, the value of scale functions, there is a very important function is denominated instruments. Bitcoin itself is not denominated in the currency, nor as the quote currency is possible. Plunged wild speculation "currency" can be used as currency it? Bitcoin transactions for good, good investment, you need to pay attention to its risk. People's Bank and the relevant departments will continue to focus on the movements of Bitcoin and associated risks, strengthen the monitoring, analysis, and guide the public to establish a correct concept of money and investment philosophy. Thank you.
"

I don't really know what this means. I used google translate on this page:-

http://www.china.com.cn/zhibo/2014-01/15/content_31172976.htm

So they're basically saying you can buy bitcoins, but we advise you not to. Is that just something they have said before? Or is this new? Huobi hasn't reacted so I'm assuming this is nothing new?

It would make it fail. Bitcoin can only work if it is stablilised.

I don't really think the price matters so much as it being stable. If it rises too quickly people won't spend them, if it loses value often people will be scared to buy them. Remember most of us here are miners, early adopters or pure speculators. For the normal guy on the street volatility is one more headache he could avoid by simply using a debit card.

It may still rise exponentially in this early phase but that is also purely speculation, it is just as likely to bounce between 600 and 1200 over the next 6 months while people / countries enter and exit the market. It could also be replaced by government developed cryto currencies where governments want the benefits of btc but sell their coins at rates pegged to the national currencies. Any scenario is just as likely as an other.

Some China news we haven't heard yet? Houbi moving.

This is the kind of thing I was thinking, Huobi's bank told / decided not to work with them.

You do know the lenders also risk losing their coins if the shorts don't pan out?

Ahh, didn't realise you could get insurance, I'll have to check that out.

Quite a few people have pointed that out, I've got a stash of fiat waiting just in case.

Just one small piece of bad news around the 31st and we plunge. I know your chart shows a drop well before that but up until the 31st we are all on shaky ground, we have no chance of 'going to the moon' before that. After the 31st however is a completely different story.

Well, I agree with you, but the seed has been sown and most people are holding back fiat until that date is over. FUD or not, the community are jittery about that date.

I'm not of the opinion that the Chinese are waiting until the last moment to cashout, it's more likely the Chinese government will use that date to clarify their position and close down Huobi's new corporate bank account, or some equally bad news. How we ever thought a country like China would allow their currency to flow out of the country as anonymously as btc I don't know. They have huge corruption scandals going on at the moment, they are trying to clean up their act in a public way and btc allows people to 'hide' funds from the government, they will not in a million years allow that to happen.

I'm not scared that the Chinese people want out, they are gamblers and the bitcoin dream is a very hard one to break - I'm scared the Chinese government are gearing up to make it very difficult for them to trade. Which, like it or not, has a great bearing on how we feel about btc in the west.

That's curious, I always think that about people who sell their sig.

Your own affiliate link is the same thing, all it does is show you know the system.

Hope so, we always crash when chartbuddy goes down.

You should read and listen to more btc live casts, a lot of people are calling it willy. I think it was 'coined' a week or so ago on the live cast run by this guy bonavest.com - there was another name in the running too, but I forget that.

People have been selling bitcoin there already, I know someone who bought some there as Xmas presents (& yes they were at a ridiculous price, but quick and easy).

Seriously guys - STOP USING GOX.

The volume is so low it's pitiful. Look at btc-e, stamp and huobi for what is really going on. No-one with money follows gox anymore.

What about your family if the worst happens? Your wife / children / mother / husband / favourite charity or whatever can't retrieve btc by showing a death certificate and a will, they can with all other assets.

I have made arrangements so that my family can retrieve mine if needed (nice bonus that it's tax free too).

We're doomed

They don't want to incorporate btc because they are workng on their own version of it - they recently applied for a patent which failed. Think about it, google copy every good idea, they have unlimited funds and googlecoin fits into their world domination ethos perfectly.

Imagine the stampede to buy!

EDIT: ok, I'm bored of btc now, gimme some googlecoin!!

Wall St would go loco. I'm sold, where can I buy??

They use bitstamp.

nvm, I read it wrong.

I'm shopping for a rig now, I figure that I can use it for other coins if things go badly with btc, I would love to be mining doge right now - I'm tempted by the fact you can swap coins easily as the market dictates.

Prob not that long, but the lifespan of my rig would be limited too, I don't see the manipulation stopping any time soon.

http://rt.com/business/bitcoin-shiller-bubble-davos-127/

Make hay while the sun shines guys.

yes, but that was a problem withdrawing fiat - now people are complaining they can't withdraw btc either.

Good cause, I hope he's successful.

Medical marijuana makes a huge difference everyday to people with all sorts of ailments. Shame they have to involve themselves in criminality just to relieve their symptoms, it's a human rights issue.

There's been an arb bot running between gox and bfx all day.

Well, I've been a bear all day - just gone bull and it feels good

I'm actually pretty excited about this, we've had to jump hurdles in the UK to get hold of btc.

Maybe because so under serviced at the moment? And you're right, nowhere in the UK is 5-6 hours away from a shop or bank, you could travel half the length of the country in that time.

Guys, I know we hear a lot of 'bad news', but this REALLY IS BAD NEWS, I urge you to consider selling now to buy back later at a lower price when the market has absorbed this. I'm 100% fiat as of 5 mins ago.

I don't mind what people do really, I'm not trying to convince people, no-one here who would listen to me has enough btc to make a difference but

http://www.marketwatch.com/story/ceo-of-winklevoss-backed-bitcoin-company-arrested-2014-01-27?link=MW_latest_news

isn't going to go away quickly. Especially with Jan 31st around the corner.

I may be wrong ofc, everyone has to make their own mind up.

You don't think one of the founders of the bitcoin foundation being arrested under money laundering charges isn't going to spook the market?

http://www.marketwatch.com/story/ceo-of-winklevoss-backed-bitcoin-company-arrested-2014-01-27?link=MW_latest_news

Lol yeah, I was just thinking they must be thinking WTF - like we do when they get good / bad news

Not as bad as me, sold at 814, went out to walk the dog, got back and realised I'd actually bought more at 814 and were already sub 790 - epic day for me

http://news.rambler.ru/23049855/

They are saying the creator of bitcoin has been arrested (well that's what google translates it to) - just goes to show how news can easily be skewed by 'chinese whispers'.

Think it is supposed to be bullish, maybe will turn this around?

This is all just a repeat of what has happened before, and will happen again....and again. That's why it's so much fun to trade.

Back down again now.

Congratulations!

it came from reddit, what do you think?

As much as I would love it to be true, you say this happened yesterday, and the time for their fiat to hit their account is 2hrs? Well, one look at their trades in the last 24hrs says it's either untrue, or the chinese don't care.

But the US government banned online poker easily enough, millions played across the country and it was shut down overnight. Literally millions of dollars were lost by players and the businesses built around it. The industry still hasn't recovered and now 9 years since the original ban we have legal poker slowly appearing again in some states - but it's heavily regulated and they only started a couple of months ago.

If the US government thinks it isn't taxed enough or under US direct control...it could very well ban, or do what they did with poker and ban banks and financial institutions from going anywhere near it. Proving the point by arresting someone high profile, prob that guy from coinbase. He will get off with a fine, but it will scare the rest of the financial industry away.

Well it didn't make poker stronger did it? I do know a bit about this, I ran a poker site pre UIGEA, the industry collapsed, players lost interest, only the rest of the world kept it limping along, it may never recover.

Don't get me wrong I'm a long term bull, but if you don't look at the possibility of things like this happening and protect yourself, then you're not looking after your money well.

Every single person here is enthusiastic about btc, even the perma bears - otherwise they would not be on this forum. Surely within ourselves we SHOULD discuss the possibility of something like this happening.

Lol yes. btc isn't the be all and end all of crypto currency. As discussed in the hearings yesterday this could just be the forerunner for better more secure systems. Btc has a lot of problems that could be improved on.

Sometimes I think we're all investing in bb boards thinking that's where the money is in the internet in the 90's just because that's what everybody used (older people will understand this). Sure bb boards and the early browsers helped the whole concept of the internet take off, people made tons of money at the time, but ultimately they were replaced with far superior technology once the real money moved in.

I'm not saying btc is doomed, but take a step back from your enthusiasm every now and again and smell the coffee. This could just be a short lived opportunity to make some money.

I would advise to keep it, build on it. I have invested remember. I just 'sometimes' doubt if we will get mass acceptance of this particular coin (btc).

Wish I hadn't started this now, I'm a bull...but sometimes I like reality to kick in. I've missed too many 'obvious' signs over my lifetime, I was heavily involved in the dotcom bubble (hindsight is a wonderful thing). I'd just like to get it right this time.

How? It's made some individuals wealthy, but only because other individuals have put money in, and those individuals are reliant on other new individuals putting money in to make their own returns. Bitcoin does not create money, it just moves it around. Only governments create money.

A multi billion dollar game, I think you are vastly underestimating the money that was in poker. With more interest than btc, a game senators play, a game americans play as children around the kitchen table....and still they banned it. It didn't matter that they could have made a killing taxing it. They saw danger for the US public, associations with crime - and they closed it down.

What do you think would happen if just one trusted entity (amazon, google, UK financial sector) introduced their own coin with none of the connotations with crime, better security and able to be fully compliant with current money laundering regs?

Anyway I'll stop now, I just wanted to discuss it, not talk myself out of it

Their volume hasn't increased since yesterday, I'd stay at Huobi if I was Chinese. I really wish I could trade at Huobi

Gox and okcoin too, I wonder what percentage of trades aren't fake - mine are real, I promise

That's strange, I haven't checked out the facts 'cos quite boring really but I have always understood from the FUD that is spread in the media that things may be bad in the UK, but the USA is much worse. We're all sheep - unless we can be bothered to find out the facts for ourselves.

I think a lot of people (including me) are more of the opinion that any further action by the Chinese government will happen after the 31st. So that means I'll be extra twitchy next week, not tomorrow.

We're famous! - well 2 of us are

http://www.ibtimes.co.uk/chinese-new-year-bitcoin-ban-end-days-or-empty-threat-1434495

It's very strange OKcoin seems to have steady trades throughout the day, but Huobi definitely slows down during Chinese sleeping hours.

The problem with Gox is a bit like the 31st Jan deadline for China, nobody can go fully bullish while the prospect of them going under looms over us.

I say shut it down, let's take the hit, and then move on.... to the moon.

Now 3000+ sold in last 10 minutes, gox is panicking - all other exchanges seem to be keeping their heads atm.

Has proudhon gone into hiding?

Feeling the same.

There were over 3k coins dumped on gox in less than 10 minutes, although the other exchanges were already heading slowly downwards.

Yeah that does look good, very promising, pity it doesn't do candlesticks yet.

People are having large amounts of coins returned to their accounts - the coins that were stuck in withdrawal. They have ceased all btc withdrawals but it is still possible to withdraw fiat - what would you do?

From what I hear its only eur and usd withdrawals that are delayed (note delayed, not ceased), the Japanese have been able to withdraw with no problem the whole time.

Also if Gox do go under it's far better to be making a claim through the courts for fiat than it is with bitcoin, which could be near impossible depending on the legality in your country.

Anyway, I'm no expert, was just trying to explain why it could cause the dumps.

Bitstamp is doing fine.

Same to you. I'm not really bothered, I have nothing in Gox, forgot how emotional everyone is around here. No facts just FUD and who can shout loudest.

They have worded this really badly, I know they have best intentions and all that...but this will bring about the mother of all crashes by bringing the integrity of btc in question. Shoulda just said 'we're still working on it'.

https://www.mtgox.com/press_release_20140210.html

But..look on the bright side, btc is still btc, and we will all come out of this with much cheaper coins! We're still going to the moon (in march / april).

Popcorn out, feet up - let's try and enjoy the ride.

Under 400 within 24 hours.

Wait until under educated reporters get hold of this story - they will make a meal of it.

May even go sub 300 for a short while imo.

Regular traders will have alarms which wake them up if the price moves suddenly.

No i won't be greedy, you can have some too, let's all get some

http://www.bloomberg.com/news/2014-02-10/bitcoin-exchange-mt-gox-says-users-can-withdraw-cash-as-normal.html

At least they didn't bang on about the bitcoin glitch like all the other media seems to be focusing on.

Is Gox down? I'm getting gateway error.

No, nothing has changed much in the last week, but I think this year will see under $200 and over $1300 (actually I think $3-5k but that's a little optimistic I know) and this is just one of those bumps on along the way.

In particular I think we have a very rocky few weeks ahead of us as the media will give the impression bitcoin is fatally flawed. It should calm down once that has been clarified, poxy gox is off the scene and china have either started arresting people for trading it, or have sensibly regulated it.

I'm absolutely in this for the long haul, but it's sensible to keep mainly fiat right now.

I'm beginning to doubt this whole thing.  Bitcoin isn't anonymous and is actually more traceable than cash, it is actually run by a secretive central core of developers instead of being decentralised, has massive security issues instead of being rock solid technology.

Actually everything I thought when I first bought in turns out to be 'not quite right'.

Anyone else feeling a little bit cheated? I want to keep the faith but wondering if there are better things I could be putting my money into (tesla for example).

lol

Such a bull trap, be careful guys.

We have 'til thursday to wait, and this sounds just like stalling tactics to me.

Yeah, a lot of very emotional people around here, nobody wants to discuss anything, just push their own agenda.

A lot of people on this particular forum have lost a lot of money and are desperate for their 'predictions' to be right. You can tell from their reactions.

Think we're beyond the point where some good news will get us out of this, pull back your charts to 1 day and you will see what is happening. we've had some excellent news this week, but a the end of the day the sparkle has gone from btc. Smart people are planning exit strategies rather than dreaming of yachts.

We've been goxxed.

Lost much?

Anyone who uses that word is definitely too young to have any significant amount of btc. Why call names? It just shows your desperation and immaturity.

I am long term bull with bitcoin, but these exchange markets are not bitcoin, they are just speculators trying to make a quick easy buck. When btc is stable, there will be no more speculators driving the price up / down. Bitcoin doesn't need to be expensive to be successful.

Watch out guys, this downtrend is not wholly down to Gox.

http://www.coindesk.com/canadian-bank-cuts-cointrader-accounts-amid-hostile-government-rhetoric/

Made me lol.

Gox is down.

lmao

Any publicity is good publicity.

I've had 3 people today ask if I can get hold of some bitcoins for them while they are cheap. I'm pretty surprised, I really didn't expect that, so now I'm expecting a rally as soon as funds hit the exchanges.

Lol, they are in no way day traders, long term hodlers with no intention to sell in the near future. They are more like "wowzers, this could be worth $10k in 5 years".

Mark my words, a large whale buy is coming, this will spark a rally similar to the rally after the china crash. There's are many traders waiting to buy back in who are hoping this isn't the bottom yet but have their fingers on the trigger, look at the order book on Bitstamp, buyers far outweigh sellers. There are also many ex gox customers who need to buy back in. Don't get left behind, when it happens, it will happen quickly.

I expect 820 within 7 days, if not more.

I think everyone in Europe is concerned. But we're kinda used to it and have become very good at containing conflict within a small area. If things do get violent I just hope Russia and Europe open their doors to civilians (obv Ukrainian civilians should be able to find refuge in the region they feel most comfortable with).

EDIT: and honestly, who cares about bitcoin when lives are at risk.

You are only talking about the buy end, there are only 18k for sale up to $1000 at Bitstamp, and only 21.28k to $5000.

I think you are manipulating (maybe unconsciously) the facts to fit what you would like to happen, all of your arguments could be applied to a bullish or bearish position. You can apply logic to how buys or sells work, create charts, but the facts are that strange things happen, people do execute large market orders, buy and sells, and it doesn't make much sense to day traders, but they happen all the time.

To leave this channel we need a buyer / seller with the muscle and inclination to move the market. The market is like a coiled spring at the moment, and I believe more need / want to buy in than want to sell (they have had the last 3 weeks to sell).

I'm calling a rally, you are calling a further drop, we'll come back to this in a week and see who is right, fair enough?

I didn't mean you were manipulating the market, just the inner debate in your head. I was doing the same which is why I felt I recognised it in you, I've been permabear since the china crash, and probably would still be now if my friends hadn't started asking me about getting bitcoins for them in the last few days. This made me reappraise the whole situation, I believe nothing but a flash crash would take this market below 475-500 again, if you look at the charts only flash crashes have taken us down there since November, 550 is a pretty solid support area. Chart wise there could be a large inverted head and shoulders developing on stamp, but tbh I really do think we need a large buy (or sell) to move this thing. It could happen slowly as other people have predicted, but hey, this is bitcoin

http://www.reddit.com/r/Bitcoin/comments/1zcvxd/britain_to_scrap_bitcoin_tax/

Breaking....Britain drops btc tax, treats it as a currency - favourable conditions for traders and start-ups.

Great news!

I may be getting ahead of myself but I sure hope buttercoin (new exchange backed by google and reddit co-founder) relocates to the UK and opens very soon.

Not sure if serious.

I think you guys sometimes forget people do actually want to buy bitcoins, it's not just traders. There's not always a motive apart from simply buying.

The UK news is pretty huge http://www.reddit.com/r/Bitcoin/comments/1zcvxd/britain_to_scrap_bitcoin_tax/

This is a green light to lots of cautious investors at a time when the price is relatively low. London is a major financial centre and their favourable approach will be very encouraging.

There's a lot of fiat waiting to buy. Nobody wants to miss the train.

They are following

http://hypron.net/bitcoinwisdom.html

Don't be fooled guys, this isn't Gox, those walls are real - and more will arrive when the Monday fiat arrives at Bitstamp (about 4-8 hours from now).

You need to re-assess, Mark Karpeles and the blatant manipulation have left the building. These are serious buyers, the UK news is huge, investment money will start pouring in.

By the way, by UK, I mean United Kingdom treating bitcoin as a currency for tax purposes and scrapping VAT on Bitcoin. Not Ukraine, which although is pretty awful for those in the UKraine, Europe has become very good at containing conflict, it would be different if they were already in the EU, then we would be in serious trouble, but I don't think Putin would have risked that.

Why? What happened, hopefully nothing in Ukraine, my news has nothing but the Pistorius trial.

I see you have plenty of posts so i'm assuming you have traded for some time, so you know it's a natural part of trading to pull back before next leg up.

I've been wanting to say this since Xmas - HODL!!!

(btw for new traders, if you feel those panicky feelings rising, leave the room for 5 mins, whether we're going up or down we generally retrace around 31-61% after a large move - if you sit on your hands and wait you can buy / sell at a better price).

Yeah, even people quoting those images get an ignore from me. Some people are not sat in their bedrooms.

high 5

I don't know what you mean, I can see them, and so can anyone looking at my screen.

ty m8

You're not a very nice person are you? Do you ever intend to get married, have children? I hope you never have daughters.

Women are not a commodity - are you from Afghanistan or something?

Love the poll, 800 by the end of the week, by the end of the day more like!!

Feel sorry for you goxed people, feel sorry for those who shorted....but OMG this rush watching it go up is priceless, especially when you're 100% coins.

The wall guy is not removing them, he is buying...a lot.

you guys really should learn how bitcoin works, check the blockchain NO NEW BLOCKS YET - it happens.

You guys seriously think another exchange could have the same problems as Gox? It's coming out now that it was well known Mark was neglecting the code. He had plenty of warnings from people who know what they are talking about. Also, Gox has been sending out a warning beacon since November when fiat withdrawals problems were getting out of control, you will see the same signs with another exchange too. Learn from your mistakes, don't wish the same misfortune on other people.

This is the key to the short term market and people ignore it. The majority of traders had their funds on Gox, a lot got out, we don't know exactly how many, but looking at the order book in the last few days, not that many.

These people are not going to give up bitcoin, or be happy with the handful of alts they have. They are entrenched in the bitcoin dream and trading is a way of life.  Right now they will be securing loans, raiding savings accounts and that fiat is on it's way to an exchange right now.

It takes a few days to be verified at Stamp, then 2-3 more days for your funds to arrive in your account, we're on the brink. All we need is a few mini whales who NEED their bitcoin with only a limited amount available at the exchanges and ..... supply and demand.

Breaking news - bitcoin is not banned in Russia.

http://www.reddit.com/r/Bitcoin/comments/1zk28a/bitcoin_not_banned_in_russia_says_russian_central/

Calling 520 within 48hrs. Then down to 380, then we're done with the bubble and can resume moon mission.

PS. Please don't take this as advice, I no longer trade BTC, I just enjoy charting it

Here's a chart, not made by me, but this guy has been consistently getting things right, even called the gox crash before it even happened (chart wise not news). I'm still learning about EW so my chart looks like a london tube map and not really readable by anyone but me.

https://www.tradingview.com/v/GTvxyQ0T/