Bitcoin crashes through $300 floor - page 2.

Nagle

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Quote from: needFREElunch on January 04, 2015, 02:35:11 AM

$300 was he floor for several months. Now that it has breached the $300 level I would say that it will probably end up falling to at least the $250 level if not lower over the short term

Well, the low for today, so far, was $255. There's been enough of a drop today to expect some rebound, but the long term trend remains downward. It's been steadily downward for a year now.

There was a claim that Bitcoin had never fallen below the all-time-high of the previous bubble. The Silk Road bubble peaked at $266. That bottom was broken today.

Superhitech

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Quote from: serpicodk on January 04, 2015, 03:57:28 PM

Quote from: Superhitech on January 04, 2015, 03:37:29 PM

Quote from: JimminyCricket on January 04, 2015, 03:03:43 PM

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

I don't think they want to spread FUD, it would just cause more people to panic sell, making the price lower.

But people have the right to know, don't they?

I guess so, but people could just go to preev.com or any other website that has a bitcoin price widget on it.

Quote from: SimplisticStu on January 04, 2015, 03:58:47 PM

I am of the opinion that several companies dump their BTC for fiat currency at the end of each year, I am also of the opinion that by the end of Jan 2015 the BTC price will break back through into the $300 arena.

I could be wrong and of course I am open to other opinions as well as my own.

That's a good observation, that could be quite possible.

SimplisticStu

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I am of the opinion that several companies dump their BTC for fiat currency at the end of each year, I am also of the opinion that by the end of Jan 2015 the BTC price will break back through into the $300 arena.

I could be wrong and of course I am open to other opinions as well as my own.

serpicodk

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Quote from: Superhitech on January 04, 2015, 03:37:29 PM

Quote from: JimminyCricket on January 04, 2015, 03:03:43 PM

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

I don't think they want to spread FUD, it would just cause more people to panic sell, making the price lower.

But people have the right to know, don't they?

Superhitech

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Quote from: JimminyCricket on January 04, 2015, 03:03:43 PM

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

I don't think they want to spread FUD, it would just cause more people to panic sell, making the price lower.

JimminyCricket

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www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

pbleak

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Quote from: Bananana on January 04, 2015, 11:00:40 AM

Quote from: pbleak on January 04, 2015, 09:46:58 AM

Well if you are looking to profit you could always short the coin for now and then rebuy later down the line.

No way, it could rebound anytime, It is really risky to short...

Of course, I mean only if you think the trend is truly downward. And, more importantly if you have some to risk. I certainly wouldn't encourage anyone shorting with coin they need.

Bananana

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Quote from: pbleak on January 04, 2015, 09:46:58 AM

Well if you are looking to profit you could always short the coin for now and then rebuy later down the line.

No way, it could rebound anytime, It is really risky to short...

pbleak

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Well if you are looking to profit you could always short the coin for now and then rebuy later down the line.

Balls

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Quote from: pbleak on January 04, 2015, 09:37:00 AM

I'm sure today we'll go down to 250. More curious about what happens then. I actually, from an objective perspective, don't think it so bad that Bitcoin will be cheap. New blood can enter and we need that.

While that's true, these sort of crashes can also scare people off. It's a great buying opportunity for those waiting to get in, but for others it's also worrying that the price can drop this low and so quick for no good reason. We've had a year of nothing but good news and adoption yet the price has sadly not reflected this.

ChuckBuck

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Quote from: JimminyCricket on January 03, 2015, 10:15:52 PM

Wow. The ongoing downtrend is relentless. This is what happens when monopoly mining interests lose their monopoly and real price discovery occurs. Oh well, it must stabilize eventually...

Bitcoin price has nothing to do with the miners converting to fiat, it's mostly these bear whales manipulating the market.

Oh well, time to reach in my pocket and pull out some pesos to buy some of this oversold coin... Cry

pbleak

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I'm sure today we'll go down to 250. More curious about what happens then. I actually, from an objective perspective, don't think it so bad that Bitcoin will be cheap. New blood can enter and we need that.

gjgjg

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Quote from: koshgel on January 04, 2015, 04:55:47 AM

Quote from: Bitcoinpro on January 04, 2015, 04:07:12 AM

Quote from: ?? on ??

Quote from: Bitcoinpro on January 04, 2015, 03:52:24 AM

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

What do you mean? There's no selling pressure?

There's always panic sellers at low prices. Also bots which trade their algos at any price that can push price in illogical ways. Lets see, but I think there's one more push down left before any uptrend can be 'reliably' se, imo.

turvarya

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Quote from: AnonBitCoiner on January 04, 2015, 06:51:49 AM

Quote from: LeChatNoir on January 04, 2015, 06:37:18 AM

Quote from: Bitcoinpro on January 04, 2015, 04:07:12 AM

Quote from: ?? on ??

Quote from: Bitcoinpro on January 04, 2015, 03:52:24 AM

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

I agree, we are all just draeming the same bad dream.
Let's go back to stick our head in the sand please.

Look at localbitcoins; people are selling for $282. They have tremendous amounts of BitCoin and are still profitting regardless, most likely, since they probably invested early on in the game.

What would you guys do if it completely skyrocketed into the low $100s? Just curious.

Price on localbitcoins is mostly just bitstamp-price +/- a certain percentage.

drgonzo87

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BTC is gonna continue dropping until it finds a sustainable price. It's still coming out of the price bubble of 2013, and it may be that the bottom is closer to $100 than where it is now, maybe even less. Thing is, if everyone bails and sells off now the price will plummet, which is good because then BTC can be snatched up later for a considerable discount price. With that in mind, I've divested of my BTC and exchanged it for XRP and GBP. I hope the price drops considerably, and when it reaches the bottom, where its actual non-bubble price lies, it can then start a sustainable, slower rise in value that's in proportion to its growing popularity and acceptance.

BitCoinNutJob

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Quote from: JimminyCricket on January 03, 2015, 10:15:52 PM

Wow. The ongoing downtrend is relentless. This is what happens when monopoly mining interests lose their monopoly and real price discovery occurs. Oh well, it must stabilize eventually...

Looks like bear whale has finally been proved right, are we going to see a 30k BTC buy order pop up soon i wonder.

AnonBitCoiner

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Eloncoin.org - Mars, here we come!

Quote from: LeChatNoir on January 04, 2015, 06:37:18 AM

Quote from: Bitcoinpro on January 04, 2015, 04:07:12 AM

Quote from: ?? on ??

Quote from: Bitcoinpro on January 04, 2015, 03:52:24 AM

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

I agree, we are all just draeming the same bad dream.
Let's go back to stick our head in the sand please.

Look at localbitcoins; people are selling for $282. They have tremendous amounts of BitCoin and are still profitting regardless, most likely, since they probably invested early on in the game.

What would you guys do if it completely skyrocketed into the low $100s? Just curious.

LeChatNoir

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Quote from: Bitcoinpro on January 04, 2015, 04:07:12 AM

Quote from: ?? on ??

Quote from: Bitcoinpro on January 04, 2015, 03:52:24 AM

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

I agree, we are all just draeming the same bad dream.
Let's go back to stick our head in the sand please.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: wadili89 on January 04, 2015, 06:17:08 AM

Quote from: koshgel on January 04, 2015, 04:55:47 AM

Quote from: Bitcoinpro on January 04, 2015, 04:07:12 AM

Quote from: ?? on ??

Quote from: Bitcoinpro on January 04, 2015, 03:52:24 AM

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

What do you mean? There's no selling pressure?

I think he is saying that it didnt crash on big volume, but instead a slow bleeding out. Its the weekend after holidays so may not reflect the real sentiment.

This. Also I don't know if anyone has heard about a place called Las Vegas, Nevada, but it's kind of a big deal. Anyway, there is a little show there called CES the Consumer Electronics Show. That's also kind of a big deal, or used to be. There's gonna be a bunch of Bitcoin stuff there this week.

wadili89

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Quote from: koshgel on January 04, 2015, 04:55:47 AM

Quote from: Bitcoinpro on January 04, 2015, 04:07:12 AM

Quote from: ?? on ??

Quote from: Bitcoinpro on January 04, 2015, 03:52:24 AM

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

What do you mean? There's no selling pressure?

I think he is saying that it didnt crash on big volume, but instead a slow bleeding out. Its the weekend after holidays so may not reflect the real sentiment.

Topic: Bitcoin crashes through $300 floor - page 2. (Read 4131 times)