Bitcoin is looking weak. Recommend you guys take profits soon over $1000.

John999

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Merit: 1018

Quote from: xavier on December 06, 2013, 03:17:24 PM

Agree with the OP, this is the time to take BTC off the table.

At current price (~$800), you may have missed out on getting $1000+ , but believe me and him, this price is going lower and there is still a good opportunity to offload your coins and take a nice profit - if you were in at $100, $200 or less - or a small loss, if you were in around $1000.

I don't agree its because of a single manipulator - it could be , of course - but I think its because of the bubble syndrome. Too many weak hands in USA, Europe and China - bought in too quickly.

Also , bitcoin does not need such a high value - it is simply because of the media frenzy that has driven the price.

I also agree that , given the risks inherent with bitcoin , the current valuation seems ridiculous.

You guys need to be aware that this price can drop 75% from it's high. It's totally possible and we haven't seen it since the price reached $1000. Also , after a big crash there is not necessarily going to be a reason for it to "recover" quickly.

+1

Le Happy Merchant

hero member

Activity: 634

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Quote from: JakeGold on December 07, 2013, 03:32:56 AM

Quote from: Hfertig on December 07, 2013, 03:02:17 AM

I have some limits placed around 120 to 150, but would not rule out double digits

After the 265 peak, the lowest we saw was 65, or ~25% of peak. A little below the average 30% for tech bubbles crashes.

GoxUSD peaked at $1240, so a crash to 25% would be ~$300. I'm not sure we'll ever see double digits again, until bitcoin is displaced.

266 to 50.

also, a bottom like that only lasts a minute, and is due to momentum. We already bottomed out.

576.

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: CoinGeneral on December 07, 2013, 08:13:02 PM

Quote from: Edward50 on December 05, 2013, 09:29:38 PM

My last point is, don't be stupid and greedy and take money from these rich manipulators. They will soon be letting the price fall very soon and doing a controlled drop while cashing out all the coins they accumulated when bitcoin was much cheaper.

Flame away, but I will stick to my position.

I LOL at all the people who were like "It's not going to crash, you're an idiot!"

I think all those comments were deleted now, everyone knows they're wrong and that OP was right.

I said from the start that it probably won't go below 700. It did, briefly, but it's back over the 750 mark already. And looks to be rising. Don't think it will go much lower from here if at all, and another week or so should see us back near 1k.

I wouldn't even call this a crash, it's normal and expected for these events to happen. A crash to me is where b&h turns out to be a bad investment over more than at least a few weeks. Hasn't happened.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: MatTheCat on December 06, 2013, 02:14:59 PM

Quote from: piramida on December 06, 2013, 12:20:41 PM

Quote from: MatTheCat on December 06, 2013, 11:43:56 AM

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

It's your money and your way to lose them

We'll talk again once you buy at 1300.

LOL.

Can I ask a question?

How silly are you feeling right now?

Not feeling silly at all, I just don't take such risks as bidding against a long-term trend and you do, this time it worked for you, grats, but as I said, we will talk when you buy at 1300, this day will be soon

It's just a delay and a good (welcome) opportunity to buy, for me as well, but I don't feel safe being out of more than 20% of my BTC position - it's always smarter to just increase it a little at the dips after they happen, rather than try to time them and get out completely and risk decreasing your position alot. Sometimes taking a risk pays off, I give you that, but I don't like gambling with alot of money

I like slowly building my position at opportunities. Bought 20 at 650, and plan to do the same if, for some reason, the dip goes to 550 and 450 etc. It still could, does not mean I would be selling anything, trying to predict where bitcoin would go tomorrow

It is impossible. There is only one thing you should know - where it's headed in a year.

CoinGeneral

full member

Activity: 182

Merit: 100

The General

Quote from: Edward50 on December 05, 2013, 09:29:38 PM

My last point is, don't be stupid and greedy and take money from these rich manipulators. They will soon be letting the price fall very soon and doing a controlled drop while cashing out all the coins they accumulated when bitcoin was much cheaper.

Flame away, but I will stick to my position.

I LOL at all the people who were like "It's not going to crash, you're an idiot!"

I think all those comments were deleted now, everyone knows they're wrong and that OP was right.

donjoe

full member

Activity: 183

Merit: 100

Quote from: Edward50 on December 05, 2013, 09:29:38 PM

I missed my $1.00 range to buy in as it hit $2.01. I was close enough. Same stupid mistake was I predicted oil would hit $20 a barrel in around 2008, it hit like $30, my plan to buy in big at $20 and I missed that opportunity.

My two satoshis for people who strike out like that: spread out your orders, don't bet everything on a single price point. I like to distribute my orders on a bell-shaped curve centered on my main prediction, for example.

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: ?? on ??

LOVE it.. Hope it keeps going down.. Bot I use got me out of Bitcoin at $998... All Cash now baby.. I sleep well at night..

Now my Bot will buy a BUNCH more BTC once the price starts back up..

Buy And Hold? Huh

?? hahahahahahahahahahahahahahahahahahah

You're talking out of your ass so much perhaps you should let your bot take over your comments altogether

shmadz

legendary

Activity: 1512

Merit: 1000

@theshmadz

Quote from: shadowninjax on December 07, 2013, 04:08:46 AM

Quote from: ajax3592 on December 07, 2013, 04:01:43 AM

Quote from: shadowninjax on December 07, 2013, 03:59:11 AM

this thread turned out quite interestingly accurate. Tongue

we're going 570 right now and lower..

Edward50 we need you! Would love it if could predict the bottom of this crash and the approx date.

I sense the same need right now. Edward50, hes quite good at predictions!

The timing of this thread is what makes it exceptional. It's been quite a drop since then. Hard to say when or if a bottom's been reached. There's been a nice bounce at around 600 and it almost looks safe to buy back in (If you hadn't been buying the slide already) but then again, it could just be another bump on a slow, agonizing, downslope the likes of which we have not seen since the first time from 30 down to 2.

I don't even try to time this kind of crap. I'll leave that to the mentats like Edward50 Wink

shadowninjax

newbie

Activity: 59

Merit: 0

Quote from: ajax3592 on December 07, 2013, 04:01:43 AM

Quote from: shadowninjax on December 07, 2013, 03:59:11 AM

this thread turned out quite interestingly accurate. Tongue

we're going 570 right now and lower..

Edward50 we need you! Would love it if could predict the bottom of this crash and the approx date.

I sense the same need right now. Edward50, hes quite good at predictions!

ajax3592

full member

Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

Quote from: shadowninjax on December 07, 2013, 03:59:11 AM

this thread turned out quite interestingly accurate. Tongue

we're going 570 right now and lower..

Edward50 we need you! Would love it if could predict the bottom of this crash and the approx date.

shadowninjax

newbie

Activity: 59

Merit: 0

this thread turned out quite interestingly accurate. Tongue

we're going 570 right now and lower..

JakeGold

member

Activity: 96

Merit: 10

Quote from: Hfertig on December 07, 2013, 03:02:17 AM

I have some limits placed around 120 to 150, but would not rule out double digits

After the 265 peak, the lowest we saw was 65, or ~25% of peak. A little below the average 30% for tech bubbles crashes.

GoxUSD peaked at $1240, so a crash to 25% would be ~$300. I'm not sure we'll ever see double digits again, until bitcoin is displaced.

Hfertig

sr. member

Activity: 361

Merit: 250

I have some limits placed around 120 to 150, but would not rule out double digits

j0b314

newbie

Activity: 21

Merit: 0

sad but true at least for the past few hours. what's the bottom projection? 600's been going around and we're there... Undecided

vanchau

newbie

Activity: 24

Merit: 0

This was pretty good advice...

I'm a huge bitcoin fan, and believe in it long term, but understand it has a lot of volatility.

Based on this advice, I sold all coins, then took a short position.

Thanks for the advice, it made me think about the best way to invest in bitcoin for both short and long term.

Can't wait to buy more at the bottom..

EvilPanda

hero member

Activity: 658

Merit: 500

Small Red and Bad

Quote from: ajax3592 on December 06, 2013, 02:35:14 PM

Have to commend OP on the fact that he actually predicted the market is going down, few hours below it actually happened.

People predict it every single day. Like waking up every day shouting "this is the day I die".

xavier

sr. member

Activity: 260

Merit: 250

Agree with the OP, this is the time to take BTC off the table.

At current price (~$800), you may have missed out on getting $1000+ , but believe me and him, this price is going lower and there is still a good opportunity to offload your coins and take a nice profit - if you were in at $100, $200 or less - or a small loss, if you were in around $1000.

I don't agree its because of a single manipulator - it could be , of course - but I think its because of the bubble syndrome. Too many weak hands in USA, Europe and China - bought in too quickly.

Also , bitcoin does not need such a high value - it is simply because of the media frenzy that has driven the price.

I also agree that , given the risks inherent with bitcoin , the current valuation seems ridiculous.

You guys need to be aware that this price can drop 75% from it's high. It's totally possible and we haven't seen it since the price reached $1000. Also , after a big crash there is not necessarily going to be a reason for it to "recover" quickly.

ajax3592

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Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

Have to commend OP on the fact that he actually predicted the market is going down, few hours below it actually happened.

MatTheCat

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Quote from: Tirapon on December 06, 2013, 12:42:11 PM

@MatTheCat: I hope we do go below $800, and you get to buy your cheap coins. Out of interest, if we recover from here, and go above $1000 again, do you have a price at which you will buy back in, if it continues to climb?

My first buy in is set at around......$720 I think.....then I stage it all the way down to $600 to the tune of 10k

Even with this, I feel I am taking a risk. If however it doesn't get as far down as my buy in plan, then I start buying back in when I see some kind of stability emerge out of all this at whatever price that comes at, but come it will.

beaconpcguru

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Hello

GoxLooping™

Topic: Bitcoin is looking weak. Recommend you guys take profits soon over $1000. (Read 6852 times)