Topic: And the crash continues - page 2. (Read 5364 times)

I believe all dumps downwards for the past 4 months were acts of manipulation. That is, the ones that occured in 1 or 2 days.

just returning to the previous dump value, not really a dump, this is pure manipulation, big fish are eating nicely

precisely... also volume can be faked.. this market is so rigged to the bones that you'll have to go through a lot of indicators to get the feel of where the next direction is going to be...

Why would we have to expect a dump just because the trading volume is currently higher than usual? A high trading volume just shows us that the market is alive and well. I'd be more concerned if there were dumps at low volume, man.

Bitcoin price down quickly after a little pump after Coinbase new exchange site
Maybe we will see $199 again soon

And trading volume is higher than usual, so we can expect huge dump anythime

Volume is good on the dumps. That's true.

Yeah, it's effectively becoming faster. Also the volume is incredibly high these days (http://data.bitcoinity.org/markets/volume/2y?c=e&r=week&t=a&volume_unit=btc), which is a good sign for things finally being decided now. Instead of people waiting for movements to happen, they actually go and act in some way.

Man, it's a cult for some grandeur-dilousional lunatics and can't hold water. It's already hopelessly antiquated.  

All i hear from the Bitcoin hardcore supporters is contradictions by now. It was delusional madness before  (still is) and now it has become contradictions. So i think it's safe to say this crowd has lost its credibility together with the coin they support.

People want to make payments and store value now, not next century. Bitcoin is a joke.

your view: Bitcoin will go down to double digits and people will still be interested. It is one of the most volatile things on earth and can't hold value but somehow in a century it magically is still the leading crypto

my view: next century we will have 5 to 20 wildly advanced cryptocurrencies which get more and more staying power as they progress through the technical evolutionary stages and which will directly cater to the needs of their userbase. So the future is in altcoin developement and there will be a new golddigger era in the upcoming years as old bitcoin is dethroned and real competition between technologically advanced coins for userbase sets in. Cryptocurrency startup will become a billion dollar industry. In my scenario Bitcoin will be remembered as the first one but sadly had too many problems. A lot of altcoins will go mainstream (not bitcoin) and they will see a progression/evolution like that of musical genres last century (first came blues, jazz, then rock n' roll which advanced into a huge array of rockmusic. Later came RAP, POP and Techno and so on) ... so bitcoin is more like the classical music and maybe it will still be played next century amongst some nostalgic people but most people will prefer Rock or Pop.


which view do you think is more realistic?

Bitcoin has really become an obstacle to true technological advancement. And all the cult following with their contradictions and pipedream-hype-talk is an insult to the intelligent man.

that's congruent with my calculcations to. But you need to take in account all the mad people and believers who buy for higher. So i think taken those people into account 50$ to 60$ is realistic.

But ripple is some serious cowshit too.   

Things are getting faster, I give you that. I'm actually quite grateful about that, because that way we're done with this bearfest even faster. I know, bears and shorters like to push it as far as they can, but at some point it 'breaks' and the price goes up.

I think that is exactly what is good about it.  If it takes so long, it will get spread out a lot.  The seigniorage will be everywhere and nowhere. 

Bitcoin is not going to become a main currency (if ever) before several decades in any case, so just as well take that time to distribute it.  Bitcoin is a century-long project.  As fiat money has been.

It's not as simple as that.  You should know this by your own experience, i.e. I'm guessing you aren't buying all the alt-coins that have fallen off a cliff. 

The factor you are missing is demand.  Demand increases when perceived utility (not necessarily the same as price value) increases.  For example, you aren't rushing to buy all the alts because they yield little utility if you are the only one using them.

230 is still not that bad.

Come on.

Havin' a larf aren't ya?

Ridiculous.

So it's dying @230 yet you're going to buy in @30 when, by your reasoning, rigor mortis should have set in.

I don't think it will go that low this current ongoing crash, we'll probably bounce around 120-130, back to around 180-200, then decline again to 60-80 before returning upwards a little again...
You could wait for a 3rd crash that goes lower but that could take a while. These are the indicators for the upcoming period, they were there before the coinbase trickery, and they are still valid now.
There's still a risk of complete collapse of course, so the safe bet would be to invest in proper smart and fair digital currency like ripple or things like that.

Excuses, excuses. Thats all there is. Wake up and hear the music for once. Bitcoin is dying. I'm gonna sell some and diversify into Ripple which seems to be the only one with ACTUAL dev work going on instead of old nerds fapping and calling themselves Bitcoin Core Devs

Not buying a single bitcoin until price hits $20-30 dollar. For the current transactions, a 300M market cap should be sufficient, so the price needs to fall by another 10x ...

Agreed.  But the 'coins' sentiment needed some clarification.  Silver and gold coins will always hold intrinsic value beyond just their face value.  Most modern day alloy coins are pretty much worthless in this regard, however (which is exactly why the government started going away from silver).

Miners you slow derp
And maybe a couple of those early adopters from the ninjamine/flashmine in the beginning who are hyping here a lot so you think it's cheap while they mined hundreds of thousands on their laptops CPU in the beginning. (protip: it's those with the bitcoinfoundation memberships)