Nearing Bottom

[onceuponatime]

Anyone find it slightly odd that the top 10-15 coins crashed substantially and simultaneously, with one notable exception?

I've noticed, increasingly and only circumstantially, that there are times when all coins get hit and one gets pumped.

No evidence or data to back that, just an old trader that gets twigged every now and again looking at CMC.

Could be some Wall Street algos moving in?

What's going on at coinmarketcap's bitUSD quote? It's crazy.  Might be causing slide in BTS market cap,   http://coinmarketcap.com/assets/bitusd/

Where are they getting their price feed?   I bought a little bit of bitUSD at bter to try and correct the coinmarketcap feed.  Didn't work.

   Who are the owners of coinmarketcap.com?  Could someone be manipulating to buy up cheap BTS?

I mean, with ALL the good news lately, it makes no sense the dropping marketcap (accept for the bitUSD nonsense quotes).

What good news? (Honest question, I really want to know)

Did you get the last newsletter?

https://bitshares.org/newsletter/2015/nullstreet/the_nullstreet_journal_0-2.pdf?utm_source=BitShares+Supporters&utm_campaign=a9b7554fa0-Community_Newsletter_Volume_0_2__3-13-2015&utm_medium=email&utm_term=0_a18e5c0fa1-a9b7554fa0-110111421&mc_cid=a9b7554fa0&mc_eid=f536c3d556

And there's lots more besides what is listed in there. For instance, Peertracks (powered by BitShares) just had their debut at the Texas Bitcoin Conference yesterday, and NOTES are now trading on the BitShares internal exchange as a UIA and at https://blocktrades.us/

Have you checked out http://cryptosmith.info/index.php  where you can purchase physical gold and silver with bitAssets and have it deleivered to your door?

[BldSwtTrs]

Anyone find it slightly odd that the top 10-15 coins crashed substantially and simultaneously, with one notable exception?

I've noticed, increasingly and only circumstantially, that there are times when all coins get hit and one gets pumped.

No evidence or data to back that, just an old trader that gets twigged every now and again looking at CMC.

Could be some Wall Street algos moving in?

What's going on at coinmarketcap's bitUSD quote? It's crazy.  Might be causing slide in BTS market cap,   http://coinmarketcap.com/assets/bitusd/

Where are they getting their price feed?   I bought a little bit of bitUSD at bter to try and correct the coinmarketcap feed.  Didn't work.

   Who are the owners of coinmarketcap.com?  Could someone be manipulating to buy up cheap BTS?

I mean, with ALL the good news lately, it makes no sense the dropping marketcap (accept for the bitUSD nonsense quotes).

What good news? (Honest question, I really want to know)

[Ander]

BTS is very, VERY oversold right now, imo.  So many people panicked out near the bottom. 

[Troglodactyl]

BitSharesBlocks is wrong too.  Maybe that's where they're getting their data.  Is anyone in contact with svk?

EDIT: Fixed now.

[Troglodactyl]

Anyone find it slightly odd that the top 10-15 coins crashed substantially and simultaneously, with one notable exception?

I've noticed, increasingly and only circumstantially, that there are times when all coins get hit and one gets pumped.

No evidence or data to back that, just an old trader that gets twigged every now and again looking at CMC.

Could be some Wall Street algos moving in?

What's going on at coinmarketcap's bitUSD quote? It's crazy.  Might be causing slide in BTS market cap,   http://coinmarketcap.com/assets/bitusd/

Where are they getting their price feed?   I bought a little bit of bitUSD at bter to try and correct the coinmarketcap feed.  Didn't work.

   Who are the owners of coinmarketcap.com?  Could someone be manipulating to buy up cheap BTS?

I mean, with ALL the good news lately, it makes no sense the dropping marketcap (accept for the bitUSD nonsense quotes).

Yeah, CMC clearly has bad data.  They show most of the volume being on the internal BitShares exchange, but the numbers they report don't match the internal market at all.

[onceuponatime]

Anyone find it slightly odd that the top 10-15 coins crashed substantially and simultaneously, with one notable exception?

I've noticed, increasingly and only circumstantially, that there are times when all coins get hit and one gets pumped.

No evidence or data to back that, just an old trader that gets twigged every now and again looking at CMC.

Could be some Wall Street algos moving in?

What's going on at coinmarketcap's bitUSD quote? It's crazy.  Might be causing slide in BTS market cap,   http://coinmarketcap.com/assets/bitusd/

Where are they getting their price feed?   I bought a little bit of bitUSD at bter to try and correct the coinmarketcap feed.  Didn't work.

   Who are the owners of coinmarketcap.com?  Could someone be manipulating to buy up cheap BTS?

I mean, with ALL the good news lately, it makes no sense the dropping marketcap (accept for the bitUSD nonsense quotes).

[oldman]

Anyone find it slightly odd that the top 10-15 coins crashed substantially and simultaneously, with one notable exception?

I've noticed, increasingly and only circumstantially, that there are times when all coins get hit and one gets pumped.

No evidence or data to back that, just an old trader that gets twigged every now and again looking at CMC.

Could be some Wall Street algos moving in?

[yellowecho]

I'm shorting bitUSD regardless 

[Helikopterben]

The downward trend channel is pretty clear using a log chart.  It looks like we are at the bottom of the range.  A capitulation throw-over could go below the line briefly, signaling the end of the bear market.  We shall see.  It would be nice to put some flash crash bids in place but it is just too hard to trust the exchanges, even for a few hours. 

It is a bit worrying that this bear move has retraced the entire rise from last summer and then some, although bitshares has experienced substantial changes since then, including a change in the number of units to be put into circulation, which is very controversial in the crypto world.  I don't see this as a long-term problem, especially as control shifts from developers to shareholders over time and investors realize that these arbitrary changes will become less feasible and eventually nearly impossible (and highly likely to never happen again).

This could be the buying opportunity of a lifetime.  Of course that is just my opinion and is in no way financial advise.

[Akado]

I bought a few, half through metaexchange, half through blocktrades 

[cass]

Well, let's buy some more BTS and give our delegates a raise.

i would if i could^^

[Frodo]

It's crazy. We're nearly down to 15 million and  stuff like doge has 12? Ignorance in this space is beyond belief.

Well, let's buy some more BTS and give our delegates a raise.

[D4vegee]

I cannot believe how cheap BTS are right now. Are these sellers crazy? Or is it manipulation? Fuck knows. But I'm buying more!


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[CLains]

time to set buy orders

[mdj]

should be a medium term bottom here.

I agree, its likely. I just bought some BTS for the first time since bter went down.

But I think it will be a long slow sideways period before we go up much again.

I hope so, i want to accumulate some more.

Just buy some each week. Don't worry about entry price, drive yourself crazy.

Figure out how much you can invest, divide it by a year or two and DCA away.

 
I'm buying again now (first time since Bter went down), can't believe how low BTS has gone though

[oldman]

should be a medium term bottom here.

I agree, its likely. I just bought some BTS for the first time since bter went down.

But I think it will be a long slow sideways period before we go up much again.

I hope so, i want to accumulate some more.

Just buy some each week. Don't worry about entry price, drive yourself crazy.

Figure out how much you can invest, divide it by a year or two and DCA away.

[jsidhu]

should be a medium term bottom here.

I agree, its likely. I just bought some BTS for the first time since bter went down.

But I think it will be a long slow sideways period before we go up much again.

I hope so, i want to accumulate some more.

[Ander]

should be a medium term bottom here.

I agree, its likely. I just bought some BTS for the first time since bter went down.

But I think it will be a long slow sideways period before we go up much again.

[jsidhu]

should be a medium term bottom here.

[Ander]

Error: .0404 CNY, BTS support not found.   

[nomoreheroes7]

Curious to see if our all-time-low of 0.045 CNY holds...ugh.

Quite a bit of panic going on it seems.

EDIT:

Darn, broke the all-time-low with a massive sell of...29 BTS at 0.044.

lol

[cube]

Yeah someone put up several million in sells.

We just aren't going to go up as long as these whales are bearish.

Look at the bright side, they are selling and not dumping.

[jsidhu]

Its prob the same group that just keeps scalping the spread over amd over until ppl sell and then down it goes... this isthe last stand on the chart so there shouldnbe some strong buy support here

[Ander]

Yeah someone put up several million in sells.

We just aren't going to go up as long as these whales are bearish.

[inarizushi]

Selling 3M BTS at btc38 would take us down 6%.  Buying 3M shares would take us up 20%.

The is the first time in quite a while that the bid/ask has been bullish.  There were more asks than bids for quite a while there.  More evidence that we have finally found a support level.  (Of course, it needs to continue to hold!)

Well now buying 3 million shares would only take us up to 0.053. Not sure where all that sell pressure suddenly came from. Maybe the same guy with millions in buy orders around 0.048-0.049? Superwhale? lol

Right now, it's impossible to short, because only the shorts with the highest interest rates in the whole list, regardless of the price limit, can be matched.. what an incredible bad timing for a bug

[nomoreheroes7]

Selling 3M BTS at btc38 would take us down 6%.  Buying 3M shares would take us up 20%.

The is the first time in quite a while that the bid/ask has been bullish.  There were more asks than bids for quite a while there.  More evidence that we have finally found a support level.  (Of course, it needs to continue to hold!)

Well now buying 3 million shares would only take us up to 0.053. Not sure where all that sell pressure suddenly came from. Maybe the same guy with millions in buy orders around 0.048-0.049? Superwhale? lol

[Ander]

Selling 3M BTS at btc38 would take us down 6%.  Buying 3M shares would take us up 20%.

The is the first time in quite a while that the bid/ask has been bullish.  There were more asks than bids for quite a while there.  More evidence that we have finally found a support level.  (Of course, it needs to continue to hold!)

[svk]

It held so far, even with BTC down 10% today.  Some buying coming in now on btc38 and bter. 

First good sign in a long time.  It needs to keep holding.

As always, me buying BTC is an excellent indicator of an impending 10% drop, it never fails!

[Ander]

It held so far, even with BTC down 10% today.  Some buying coming in now on btc38 and bter. 

First good sign in a long time.  It needs to keep holding.

[Ander]

It looks like a lower volume retest of the .047 low.  If this support holds we go up again.

[nomoreheroes7]

Hope that bottom comes in sooner than later...things are looking downright brutal on BTC38.

[Markus]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

I don't care if there is no causation.

... as long as the correlation continues ...

[jsidhu]

You could find the same pattern by taking the Bitcoin curve only between June and August 2011, that's what fractal means.

Consequently the inference you are making about the lenght of the bear market is incorrect and we could be very far from the bottom. I only see wishful thinking.

Patterns repeat with disregard to timeframes... I know GANN used time to pick market turns, but has nothing to do with patterns.

In the end for a trader it provides a slight edge, and that edge is the difference if followed through with a strict system... however for holders its still always 50% 50%... its really just pumping the crowd.

[BldSwtTrs]

You could find the same pattern by taking the Bitcoin curve only between June and August 2011, that's what fractal means.

Consequently the inference you are making about the lenght of the bear market is incorrect and we could be very far from the bottom. I only see wishful thinking.

[Helikopterben]

Its psychology... patterns tend to repeat themselves.. this is a good find thanks. Human greed and emotions can be repeat in the same way.. price doesn't always reflect it.. usually rhymes though.

Exactly

[jsidhu]

Its psychology... patterns tend to repeat themselves.. this is a good find thanks. Human greed and emotions can be repeat in the same way.. price doesn't always reflect it.. usually rhymes though.

[Helikopterben]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

I didn't say one caused the other.  I said they are following similar patterns.

[arhag]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

Absolutely. Then again...

http://en.wikipedia.org/wiki/Self-fulfilling_prophecy

[xeroc]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

[Helikopterben]

The top image is a price chart of bitcoin in 2011.  The bottom image is a current price chart of bitshares.



Bitcoin experienced a 5.5 month, 94% decline in the second half of 2011.  Bitshares has so far experienced similar, although a bit longer and not quite as deep.  Bitcoin then embarked on a bull market and I believe bitshares could experience the same as it has by far the best model of any other 2.0 project out there, at least as far as market pegged assets go, which has enormous potential.  We may see another dip or two to complete the bear, but it looks like the worst is over.  We shall see.