The Litepresence Report on Cryptocurrency
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presence
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At the very least, I would suspect those who purchased 40,000 BTC blocks of coins at the last auction are continuing to buy support their investments.
Divide 21m total by your personal holdings and the resulting number means you own 1 piece out of 'X' many pieces in the global bitcoin economy. Which basically also encompasses all shitcoins and the cryptocurrency community as a whole since all of their value is pegged to BTC.
Most are trying for 2.1 = 1 out of 10m
Many are trying for 21 = 1 out of 1m
Some are trying for 210 = 1 out of 100K
Some are trying for 2100 = 1 out of 10K
A few are trying for 21K = 1 out of 1,000 (whales causing the most movement)
Some former FSP-NH / libertarians at the top like Roger Ver, Voorhees, Silbert, are 1 out of 100
The opportunity is still now before we're only referring to BTC as "bits" in the future.
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BUTSRSLY
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presence
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RonPaulIsGreat
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We will be the corrupt overlords of the future!!! Buy now, and join us or suffer in inescapable poverty..... The Tyranny will be delicious.
1 BTC will buy a president in 2030!
1 BTC will buy a president in 2030!
amonasro
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There is no way to know for certain, but in terms of market activity BTC/USD hasn't made new lows after the washout to $166 in January and that is an important piece of information. It means that someone or multiple someones are supporting the price. How this plays out into the summer is yet to be seen, but one can make some semi-accurate predictions in light of greater market theory to take some low risk positions.
Long-term market tops and bottoms occur because of huge shifts in supply and demand and can take many months (even years) to play out. How the smartest traders take advantage of these areas (and the general public's reaction to them) is the reason why the price does not immediately move to reflect this shift. So you get ranges after major market tops and bottoms where a lot happens behind the scenes with big money and huge numbers of shares changing hands. Once this is finished and the big operators are done with their campaigns, the price finally moves and you get a bull or bear market, depending on where you are in the cycle.
The cyclical nature of this buying and selling as it relates to human fear is really important to understand why markets do what they do.
amonasro
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Anyway hopefully you guys aren't going too crazy during this quiet area of the market bottom. Not a whole lot of trading to be had even though I do have a long position open.
Wyckoffian logic says that this area of low volume/low volatility in the trading range is when most of the stock is now in strong hands. Everyone who wanted out is out, the punters are all waiting for a breakout, and a few interests are building up positions, further tiring out any weak hands who have stubbornly held on.
Here's a great video that uses supply and demand/composite operator logic to analyze the 10-month bottom accumulation in AAPL in 2002-03. It also covers Carl Icahn's accumulation (and subsequent distribution) of hundreds of millions of Netflix shares. It should give you a good idea of how the big professionals trade, what kind of volume they move and what happens when they take the brakes off to attract the general investing public... no doubt there will be similar interests entering the Bitcoin market if they are not already here.
Wyckoffian logic says that this area of low volume/low volatility in the trading range is when most of the stock is now in strong hands. Everyone who wanted out is out, the punters are all waiting for a breakout, and a few interests are building up positions, further tiring out any weak hands who have stubbornly held on.
Here's a great video that uses supply and demand/composite operator logic to analyze the 10-month bottom accumulation in AAPL in 2002-03. It also covers Carl Icahn's accumulation (and subsequent distribution) of hundreds of millions of Netflix shares. It should give you a good idea of how the big professionals trade, what kind of volume they move and what happens when they take the brakes off to attract the general investing public... no doubt there will be similar interests entering the Bitcoin market if they are not already here.
enter`name`here
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Decent action in many of the altcoin markets this past month. any ideas rumors theories?
presence
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I think bitcoin is re entering a long bull market again; money is moving into crypto; people are diversifying again.
fatjohn
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This certainly looks like the end of the bear market is coming with a swift outbreak over the downtrend, just as litecoin did last week. Does not mean a bull market will start right away, I expect more sideways movement for the better part of 2015. But this is probably a good point to buy. Price has been consolidating for weeks now. Most people with bitcoin are strong hands now. The hype of late 2013 is too far in the past, nowadays everybody who still has bitcoin is in this for the long run.
It's go time.
It's go time.
presence
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I'm calling a June LTCBTC price channel here:
BUY / HOLD 73 now
SELL 81
BUY 73
SELL 84
BUY 77
Then moon.
revising that this afternoon
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