Bitpay just processed its first 1,000,000 USD order, Dump incoming? - page 2.

rampalija

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Quote from: MAbtc on October 29, 2013, 12:41:24 PM

Quote from: rampalija on October 29, 2013, 12:38:08 PM

Quote from: MAbtc on October 29, 2013, 12:34:49 PM

Quote from: mccorvic on October 29, 2013, 12:22:43 PM

On Gox a million USD dump would still only go down just under $200. This would be a normal dump and most likely recovered in an hour or so.

5k would have been a normal dump 6 months ago. 5k is a massive dump now and no way would the price recover in one hour, especially if done on one exchange. Panic would probably kick in.

there will be no panic. How much money is invested to BTC we can only dream about it

Oh? What was that that happened October 23rd (6 days ago)? An instant 25% drop in price (Gox), but no panic? Hmmm.

Ppl are waiting for dump, and inc1-2 daS btc will recover again

gaston909

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Nobody bought 1 mil of BFL equipment.

It's a late april fools story.

rpietila

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Quote from: ?? on ??

Last time we broke an ATH, the "bubble" continued to inflate 8 times higher before crashing/correcting...

So we can expect a new ATH somewhere between $1500 and $2500, followed by a crash to "below $500" and a new stable price around $1000...

Just wait and see.

Sounds about right.

The reason why I keep my BTC/fiat ratio at about 20:1 almost always is that there is not so much regularity in bitcoin that would easily allow trading strategies that enable you to consistently increase your BTC holdings, relative to simple buy & hold.

The most difficult part is megamoves, such as Jan 15-Apr 10, 2013. Tell me about even one trader who managed to increase his bitcoin stash during this period! Yet all simpletons such as me managed to keep theirs intact by just refusing to trade. (Minimizes taxes also)

rampalija

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Volume of BTC in offered is increasin fast, as i see now so i am expectnig another dump of BTCs

ninjaboon

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Quote from: ronaldlee0917 on October 29, 2013, 11:05:32 PM

This 1mil is nothing, what worries me more is the seized bitcoins(BTC140,000) by FBI.

why do you worry?

ninjaboon

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Quote from: ?? on ??

Quote from: windjc on October 30, 2013, 04:00:26 AM

Quote from: rpietila on October 30, 2013, 03:56:19 AM

The more bears in the forum, the better. Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.

We all want it to go up, but its a little arrogant to think we can't go back down. We certainly can. We can go back to <195 or <150 or lower.

Probably not tomorrow, but things could certainly happen.

We would not need to reverse trend down for more than a handful or days or weeks to go below 195 again. And even if this thing goes to 300, we could easily flash crash to <150.

I think we hang out in a $20-$40 range for a bit before testing the ATHs early next year, but that doesn't mean even 2014 want see some days (or hours) under 150.

Last time we broke an ATH, the "bubble" continued to inflate 8 times higher before crashing/correcting...

So we can expect a new ATH somewhere between $1500 and $2500, followed by a crash to "below $500" and a new stable price around $1000...

Just wait and see.

I was thinking the same thing. My crystal balls says it will happen end of Dec 2013. Don't quote me.

Tzupy

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The drop is imminent, but it remains to be seen if there will be 3 drops in relatively quick succession or just 1 followed by a slow recovery.

rampalija

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There will certanly be more flash crashes with BTC, i see that volume of BTC are increasing now in free market

windjc

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Quote from: rpietila on October 30, 2013, 03:56:19 AM

The more bears in the forum, the better. Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.

We all want it to go up, but its a little arrogant to think we can't go back down. We certainly can. We can go back to <195 or <150 or lower.

Probably not tomorrow, but things could certainly happen.

We would not need to reverse trend down for more than a handful or days or weeks to go below 195 again. And even if this thing goes to 300, we could easily flash crash to <150.

I think we hang out in a $20-$40 range for a bit before testing the ATHs early next year, but that doesn't mean even 2014 want see some days (or hours) under 150.

rpietila

donator

Activity: 1722

Merit: 1036

The more bears in the forum, the better. Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.

Spekulatius

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5000 BTC SELL wall on Bitstamp just now, the dump??

ronaldlee0917

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This 1mil is nothing, what worries me more is the seized bitcoins(BTC140,000) by FBI.

SheHadMANHands

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Quote from: n8rwJeTt8TrrLKPa55eU on October 29, 2013, 09:36:50 PM

Quote from: BitcoinHeroes on October 29, 2013, 08:36:19 PM

Might dump in few transaction over the few weeks, so if you think this has big impact then sell first and buy later

This interview today with Galllipi confirms that the BTC has already been absorbed via a combination of private sales and exchange transactions.

http://www.youtube.com/watch?v=UdV48a-Ay2k

Those hoping for a decline based on this news, will be waiting a long time.

Interesting..

n8rwJeTt8TrrLKPa55eU

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Quote from: BitcoinHeroes on October 29, 2013, 08:36:19 PM

Might dump in few transaction over the few weeks, so if you think this has big impact then sell first and buy later

This interview today with Galllipi confirms that the BTC has already been absorbed via a combination of private sales and exchange transactions.

http://www.youtube.com/watch?v=UdV48a-Ay2k

Those hoping for a decline based on this news, will be waiting a long time.

BitcoinHeroes

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Might dump in few transaction over the few weeks, so if you think this has big impact then sell first and buy later

SheHadMANHands

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Quote from: Cluster2k on October 29, 2013, 07:37:05 PM

I'm sure future customers looking to use bitcoin and bitpay would be very pleased that as soon as they start transacting moderate amounts of money they'll be outed on web sites. You wouldn't see a bank behaving like that.

?

LOL if you think this wasn't a coordinated partnership thing between Bitpay and BFL. I thought this was common sense.

Cluster2k

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I'm sure future customers looking to use bitcoin and bitpay would be very pleased that as soon as they start transacting moderate amounts of money they'll be outed on web sites. You wouldn't see a bank behaving like that.

johnyj

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Beyond Imagination

Quote from: ElectricMucus on October 29, 2013, 05:21:27 PM

Quote from: vendetahome on October 29, 2013, 12:41:11 PM

I thought Bitpay insta sells the coins on exchage, how would they know the amount of BTC needed for your order otherwise

They take the risk and take loans.

This is a very aggressive move as long as they can get the loan from the banks (Banks have tons of cash currently hoarded at their reserve account). If they absorb all the coins then the market will run out of coins and the price will rise quickly, and then they could release the coins slowly at a later time. One year's return on coin's appreciation will bypass their operating margin for several magnitudes

bassclef

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