Topic: A correction is happening. - page 2. (Read 2684 times)
16.00 is happening
I think it'll be back up.
As the price rises, tons of people come out of the woodwork and say "damn, I was thinking of buying bitcoins when they were cheap and I really missed out. If it goes back down a bit, I'm interested in some coins." (they say this directly to me, e.g. facebook, text messages, etc. and I think it's fair to say it's systemic and worldwide.)
Now the price retreats a bit, and these same people are saying, "OK, it's on its way down, it's probably not going to go any lower than $13 since it sat there for so long, so now's my best chance." They're gathering their funds right now and figuring out how to get them into bitcoins.
All their funds show up over the next week or two, they buy and hold coins. The price goes up and stays there.
As the price rises, tons of people come out of the woodwork and say "damn, I was thinking of buying bitcoins when they were cheap and I really missed out. If it goes back down a bit, I'm interested in some coins." (they say this directly to me, e.g. facebook, text messages, etc. and I think it's fair to say it's systemic and worldwide.)
Now the price retreats a bit, and these same people are saying, "OK, it's on its way down, it's probably not going to go any lower than $13 since it sat there for so long, so now's my best chance." They're gathering their funds right now and figuring out how to get them into bitcoins.
All their funds show up over the next week or two, they buy and hold coins. The price goes up and stays there.
Watching mtgox live now is more exciting than live sports.
It was about time.
price stablized at ~13 for a while then rocketed to ~19 and now i bet it gets cut in the middle to ~16
isn't that similar to what happened last time there was a long sideways period?
isn't that similar to what happened last time there was a long sideways period?
Well that...de-escalated quickly.
16.71
13%.
I see 16.2~ for a moment. 13%.
Just goes to show how incredibly volatile the market still is despite the relative stability over the past few months. We're still very much in the "wild west" period, which is fun but also why you never put down more than you're willing to lose and be able to sleep at night.
16.71
13%.
13%.
Price touched 19.2~ and now come back to 16, 20% in one day! What a ride !
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