Bitshares price discussion

[Riverhead]

For perspective I'm just going to leave this here

[Permie]

* The .0365 low that we hit was an exact 50% fib retracement of the move from .0198 to .0532.
* Volume was higher the past two days as we approached the low, but was still much less than during the may rally. 
* The price action for the past 5 weeks looks like an ABC correction. 
* Indicators are very oversold.


The only negative is the moving averages.
This could be a bottom, marking the end of this wave 2 correction and start of wave 3 up.  (It could drag on and go a bit lower, but it doesnt need to).

i've never put too much stock into technical analysis, but i'll take any positive news at this point

As a non-trader, the only time I'd be concerned about the price is if it doesn't increase after DPOS 2 is released. Until then it's all noise, IMO. It seems to be the same players just moving their value from coin to coin. I would be more upset if bitcoin or nxt suddenly had a huge influx of new users and none of them liked BitShares (if bts price doesn't move too)

Obviously it could be very profitable noise if you know what you're doing

[cylonmaker2053]

* The .0365 low that we hit was an exact 50% fib retracement of the move from .0198 to .0532.
* Volume was higher the past two days as we approached the low, but was still much less than during the may rally. 
* The price action for the past 5 weeks looks like an ABC correction. 
* Indicators are very oversold.


The only negative is the moving averages.
This could be a bottom, marking the end of this wave 2 correction and start of wave 3 up.  (It could drag on and go a bit lower, but it doesnt need to).

i've never put too much stock into technical analysis, but i'll take any positive news at this point

[Ander]

* The .0365 low that we hit was an exact 50% fib retracement of the move from .0198 to .0532.
* Volume was higher the past two days as we approached the low, but was still much less than during the may rally. 
* The price action for the past 5 weeks looks like an ABC correction. 
* Indicators are very oversold.


The only negative is the moving averages.
This could be a bottom, marking the end of this wave 2 correction and start of wave 3 up.  (It could drag on and go a bit lower, but it doesnt need to). 

[cylonmaker2053]

People just randomly dumping everything to chase whatever already broke out.  They dump to buy LTC, now they dump LTC to buy NXT, and its up 40%.

They sold everything to buy NXT because of this news.
http://www.forbes.com/sites/rogeraitken/2015/07/05/greek-economic-crisis-is-a-parallel-currency-the-answer/

you sold all your BTS to buy NXT? i've been buying both steadily over the last year and will keep doing so. I actually sold a little NXT today to buy some more BTS to take advantage of the price differential.

in general, i think it a good idea to spread your bets around a few of the key crypto ventures since we don't know which will succeed in the end. BTS is definitely on my short list of innovative crypto ventures to keep loading up on every time i see a decent buy opportunity.

[bitmeat]

Apparently articles about NXT make it go up 40%, but ones about BTS dont do shit.  Got it.

NXT is a LOT more stable than BTS. Perhaps that has something to do with it?

If BTS2.0 delivers on a cleaner, more stable client, then heavy marketing can begin. Dan didn't want to settle for mediocre product with 1.0.

[Empirical1.2]

Apparently articles about NXT make it go up 40%, but ones about BTS dont do shit.  Got it.

A proper article in Forbes about NXT, directly related to the current Greek situation (that is moving crypto) and it's ability to solve problems there. So it's not too surprising.

I actually find highlighting 2.0 tech at this time bullish for BitShares because BTS 2.0 & BitAssets are superior. 

[Ander]

Apparently articles about NXT make it go up 40%, but ones about BTS dont do shit.  Got it.

[Krills]

People just randomly dumping everything to chase whatever already broke out.  They dump to buy LTC, now they dump LTC to buy NXT, and its up 40%.

They sold everything to buy NXT because of this news.
http://www.forbes.com/sites/rogeraitken/2015/07/05/greek-economic-crisis-is-a-parallel-currency-the-answer/

[Ander]

People just randomly dumping everything to chase whatever already broke out.  They dump to buy LTC, now they dump LTC to buy NXT, and its up 40%. 

[Ander]

I bought more in the .0370s.  The correction has dragged on, but if C=A in this ABC correction the bottom should be around .036 - .037ish. 

The moving averages look bad now, but its very oversold, RSI is about as low as it can go already.

[Ander]

Very interesting point about the btc-e pump, that makes a lot of sense actually. 
In may we had a btc38 centered pump with BTS and Doge leading, because those are popular there. 

Traders like to make an account on one site, and trade the coins listed on that site. 

[Empirical1.2]

Freaking Litecoins.

 $$$$$ 

Litecoin is still considered the next crypto-currency should Bitcoin run into problems and is also coming up to a block reward halving which could significantly reduce selling pressure. Combined I wouldn't be surprised to see the LiteCoin rally continue strongly. 

Capital controls this weekend possibly for Greece could be good for all crypto too if it actually happens this time.

What logical rationale is there for LTC to be worth nearly 10 times BTS? 

Immutability.

(It's Chinese popularity is also very beneficial.)

I've written about the subject extensively and pre-emptively. (Prior to the BTSX to BTS transition)

I believe it's the prospect of Greek capital controls, we witnessed a similar situation after Cryprus, crypto-currencies really took off.

In terms of percentage gains LTC & DGC could be the big winners,  followed by NXT & possibly PPC etc, then Bitcoin itself.

The one's that will increase but benefit the least from the Greece effect would be Ripple, BitShares, Stellar, MaidSafe and Ethereum if it's trading.

DGC has made some changes in the past, but if you understood this principle and went strongly into LTC with additional exposure to PPC, DGC & NXT , your portfolio would be up over 50% in two weeks and climbing vs. being stagnant with BTS. (Despite BTS being the one with the best blockchain and game changing developments in progress.)

XRP has done well over the same period and I have it in my portfolio,  but that's based primarily on it's RBS news imo.

So you are now left with the frustrating situation where vastly inferior blockchains will rise rapidly in value when centralised currencies have problems despite having almost no development and being extremely costly while BitShares, who is literally blowing them away from a development standpoint and cost comparison has to get it's valuation up the hard way through blood, sweat and tears.

(Edit: Clout also makes a good point in another thread about Btc-e deposits surging and everything listed there doing very well.)

[cylonmaker2053]

It would be really helpful if bitcoin could start moving higher... Right now btc is still the lead dog and a jump in price would grab a lot of crypto media attention.  That would bring in more outsiders and give them more of a reason to look at alts like bts... Once they own bitcoin it becomes much easier and less expensive for them to move to bts, not to mention getting over the mental hurdle of buying crypto to begin with.

agreed. any boost to crypto acceptance is a good thing for BTS. we just need to be patient and keep pushing for the best p2p asset exchange...

[xeroc]

Don't underestimate a domino effect...

don't overestimate the ratio in decentralized markets .. hint: LTC