The only people who bought in 2011 are people who understand Bitcoin.
Again my point is take yourself to a normal person thinking strategy. Okay let me spell it out for you.
You now only have a high school diploma. You work at a factory, walmart, you're a waiter bartender whatever.
You have 3 kids, a tiny house, and a minivan.
You live paycheck to paycheck.
You took your savings ($10,000 or so) you put it into this Bitcoin thing.
Now you have $5000 worth of Bitcoin/savings.
You think they are still holding and hoping?
You think they haven't sold and are screaming and cryin at the top of their lungs I lost half of my life savings Bitcoin is the devil to everyone they know?

This is why it is bad. Because the people investing in bubble rises are people who think they will get rich quick (99% of the population which is why lottery is the most profitable thing for states) and when "healthy corrections" happen it's devastating to the reputation to Bitcoin and the bigger they get and the harder they fall the more negative news and I promise you the 99% don't know, care or believe in BTC technology they believe in their dollar and you Bitcoin took it from them.

So what?

Oh boy, China is awakening and if Gox breaks through the $700 barrier, we will be getting VERY close to confirming no dead cat bounce.

Very interesting to see what happens here. Wall is building at $700 so I do not think this is going to be easy. How quickly we move through this resistance will let us ALOT about where and how fast we are going.

One thing that I have to say when reading this "bitcoin online bar" is that if you have a lot of bitcoins it surely doesn't mean that you would know something more about trading than those who have fewer. Somebody could have just bought when they were cheap and never traded or somebody could even traded few good trades with huge luck, but +10k BTC surely doesn't make you genius automatically...

BTW. seems so far a lot more like quick recovery from correction than big rebound from crash. As I said =D

Many people are modeling the current situation based on the April crash. That of course would make the current bounce a bull trap.

I think we need to remember that the situation is very very different at the moment. April was basically "okay, bitcoin just died" for many. This time I think pretty much everyone is confident that bitcoin is here to stay. Nobody is really scared that their bitcoins will suddenly become worthless. This wasn't the case after the April crash.

The question is not anymore "will bitcoin make it". Bitcoin has already made it. It has already become a massive success story.

Back to the trend line... carry on.

We are at 50% of the $900->$450 correction. Just like we were at $165 on the 24th of April, when the second bear run started. This is not over until we go above 700$.

Poor bears. Pockets full of fiat, feeling sad and lonely because the choo choo train is leaving them behind

Just joking. Huge resistance at $650 on Stamp, BTC1,500 mini-wall (not so mini these days at the current exchange rate) not getting chewed.

For those who took profits in the $670-$700 range (Stamp) these were great moments. I personally managed to sell 10% of my stash at $675, re-bought at $420 and just sold again a few hours ago around $630. Let me add that it was mostly sheer luck, my intention was to just take profits and not to daytrade, but you cannot say no to such an opportunity

Gotta love bitcoin....