Bitcoin at $112! - page 3. | Bitcointalksearch.org

ft73

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Quote from: ThatDGuy on June 07, 2013, 10:17:20 AM

Surprised some of those things didn't have an effect earlier, but I do agree about it being healthy.

Many had effect, since April.
See the declining peaks at (roughly) $260, $170, $150, $130.
Path was clear.

We're still in the middle of an irrational market cooldown.

KSV

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SVERIGES VIRTUELLA VALUTAVÄXLING

its normal, it will recover. . .

ThatDGuy

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Quote from: ft73 on June 07, 2013, 09:53:28 AM

Quote from: Welsh on June 07, 2013, 09:39:57 AM

I think it's due to the amount of people selling off their Bitcoins which they earn from ASIC mining. So they are depositing it into fiat money, to keep it at that value so they are benefiting from it.

I don't think so.
Many elements prepared the terrain to favour this correction:

* Weak market: declining average volumes since April peak.
* Bad news (Dwolla, FINCen, ...)
* Less hype: Declining media coverage.
* Frustration due to to some irrationally high expectations.
* Speculation.

The weaker alt-coins market gave a first signal with a strong correction on many coins within the last month.
Bitcoin is just following the same path.

I consider this healthy.

Surprised some of those things didn't have an effect earlier, but I do agree about it being healthy.

sgbett

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Quote from: ft73 on June 07, 2013, 08:13:46 AM

I'm not willing to go against trend Wink

The trend is your friend!

I'd also like to announce the introduction of "Capitulate before its too late" as phrase of the now! Cheesy

ft73

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Quote from: Welsh on June 07, 2013, 09:39:57 AM

I think it's due to the amount of people selling off their Bitcoins which they earn from ASIC mining. So they are depositing it into fiat money, to keep it at that value so they are benefiting from it.

I don't think so.
Many elements prepared the terrain to favour this correction:

* Weak market: declining average volumes since April peak.
* Bad news (Dwolla, FINCen, ...)
* Less hype: Declining media coverage.
* Frustration due to to some irrationally high expectations.
* Speculation.

The weaker alt-coins market gave a first signal with a strong correction on many coins within the last month.
Bitcoin is just following the same path.

I consider this healthy.

Welsh

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I think it's due to the amount of people selling off their Bitcoins which they earn from ASIC mining. So they are depositing it into fiat money, to keep it at that value so they are benefiting from it.

bitone

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Quote from: worldinacoin on June 07, 2013, 07:01:00 AM

[...] VCs and angel capitals that have invested in Bitcoin projects and they have invested hundreds of millions.

Source?

I counted round about $15 Million ...

Thanks,

BitOne

Moebius327

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I guess someone needs money for Friday night

FloridaBear

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Quote from: worldinacoin on June 07, 2013, 07:01:00 AM

I guess those gigantic hashing machines operate all at once. Too much competition. But somehow or other someone will go in to support the prices. Bitcoin price drop will affect the VCs and angel capitals that have invested in Bitcoin projects and they have invested hundreds of millions.

All at once? No. Yes, the hash rate has been climbing, but of course the difficulty adjusts to keep the rate of BTC production roughly the same it has been for years. Price of BTC is not about mining, it's about supply and demand.

Personally, I suspect this is just increased volatility due to the Mt. Gox/Dwolla lockdown--with USD more difficult than ever to use to buy/sell BTC, volume drops and volatility climbs.

WackyWilly

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Quote from: Welsh on June 07, 2013, 08:04:52 AM

It's a good time to buy, but WILL it drop even more is the question?

Exactly. Chances are, it will, although intermediate term support levels (current week: at $100) are not yet broken.
You might want to take a look at the weekly levels here, for reference:
https://bitcointalksearch.org/topic/m.2352683

worldinacoin

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Quote from: ironcross360 on June 07, 2013, 08:18:40 AM

I want to see on the news, 1 Bitcoin hits all time high of 1mil $!

Unless Bill Gates chip in a billion or two

Streets 2.0

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FRX: Ferocious Alpha

Wait until Monday Grin

ironcross360

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Troll of the Fourth Reich.

I want to see on the news, 1 Bitcoin hits all time high of 1mil $!

ft73

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I'm not willing to go against trend Wink

wopwop

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ft73: please everyone buy PLEASE

ft73

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dp

ironcross360

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Troll of the Fourth Reich.

Quote from: ft73 on June 07, 2013, 08:11:39 AM

About buying now: try considering it this way:

* 115$ support was broken with volume
* next strong support is into 100$ area
* Bounces may be false signals, since RSI has gone undersold and has to recover.
* We're approaching weekend, when volume is low and manipulation is easy

You would buy now?

Manipulation is easy

Lets manipulate it up

ft73

hero member

Activity: 564

Merit: 508

About buying now: try considering it this way:

* 115$ support was broken with volume
* next strong support is into 100$ area
* Bounces may be false signals, since RSI has gone undersold and has to recover.
* We're approaching weekend, when volume is low and manipulation is easy

You would buy now?

ironcross360

full member

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Troll of the Fourth Reich.

Fuck.
When do we expect it to go back up?

wopwop

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Miners are selling their day profits

Topic: Bitcoin at $112! - page 3. (Read 5528 times)