Topic: 1500hrs - BTC plunging (Read 3066 times)
There needs to be something really important to maintain the rally.. and now there isnt
Gox price was significantly overinflated due to withdrawal problems.
To the best of my knowledge, nothing has changed here. People are still waiting for their withdrawals from July etc.It does look like the price of btc has stablized between the exchanges who are actually processing withdrawals, however. Very unfortunate, as this ruins our wonderful previously available 10% arbitrage abilities.
Anybody who was around since January of this year would know that this small drop is expected. Shaking out the weak hands.
We did the same shake at least 10 times from $13 to $266.
Don't get shaken off from $120 to $1000.
We did the same shake at least 10 times from $13 to $266.
Don't get shaken off from $120 to $1000.
Volatility means all good. There are no central banks who could add or subtract some money supply to stablize the price, if the price is stable, then it means the exchange rate was manipulated 
Manipulation is such a loaded term. Everybody manipulates the market, and everyone has the same goal - profit. Manipulation is just thrown around most frequently when one of two things happens: 1) a big buy/sell makes people go "damn that's a lot of money!", or 2) there is an assumption that someone with deep pockets is keeping the price stable, though it should be noted that this is virtually indistinguishable from normal trading activity and therefore calls into question the assumption...
Volatility means all good. There are no central banks who could add or subtract some money supply to stablize the price, if the price is stable, then it means the exchange rate was manipulated
Spread less than $5 between bitstamp and gox right now. We will see if that holds.
Bingo. This is the factor to look out for. Gox price was significantly overinflated due to withdrawal problems. It's more important to see what's happening on bitstamp and btc-e. Besides, payment processors like bitpay no longer follow the gox API (thankfully). By all logic, Gox shouldn't be influencing the market to the same degree it had been prior to the shit hitting the fan.
Mtgox was at $140-150 last week and the week before. Right now its at $121 asking. So, it "plunged" by ~$20.
BUT, CampBX has been at $120 for the last 3 weeks. Give or take a few days.
I see it as normalizing, correct me if I'm wrong. Mtgox had an inflated price on BTC for over 2 weeks.
By the way, can someone explain to me in a situation such as that prevents people from buying on CampBX and then selling on Mtgox for a $20+ coin profit? Or is that what people were doing?
BUT, CampBX has been at $120 for the last 3 weeks. Give or take a few days.
I see it as normalizing, correct me if I'm wrong. Mtgox had an inflated price on BTC for over 2 weeks.
By the way, can someone explain to me in a situation such as that prevents people from buying on CampBX and then selling on Mtgox for a $20+ coin profit? Or is that what people were doing?
Spread less than $5 between bitstamp and gox right now. We will see if that holds.
less than $3 now
Spread less than $5 between bitstamp and gox right now. We will see if that holds.
It "plunged" to the price it was, what, a week ago? 
A 17% drop in value from peak is significant, I think.....You must be new.
sr. member
Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
It "plunged" to the price it was, what, a week ago?
I recall thinking that on april, 11th, 2013.
1500hrs
Looks like another case of an American forgetting that the rest of the world exists.looks like another yuropoor looking for an excuse to get buttmad about America
good, good, blame America, ignore your own government's pilfering! gooooood!
http://i.dailymail.co.uk/i/pix/2011/12/10/article-2072549-0F0CE65900000578-678_468x320.jpg
Caption: 'They were outside my gold-flaked mansion with torches and pitchforks, but I just pointed at America and the retards fell over themselves whining and forgot all about me!'
is SR down again???
It "plunged" to the price it was, what, a week ago?
A 17% drop in value from peak is significant, I think..... It "plunged" to the price it was, what, a week ago?
I recall thinking that on april, 11th, 2013.
It "plunged" to the price it was, what, a week ago?
bitcoin going up... normal
bitcoin going down... normal
just get on with it
bitcoin going down... normal
just get on with it
Taking a small break. It doesn't go up vertically. These pullbacks are periodic and healthy before going higher.
There is not even agreement on a price.
PANIC SELL. FUD FUD FUD.
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