CRASH! - page 9. | Bitcointalksearch.org

imperi

full member

Activity: 196

Merit: 101

Quote from: dinzy on July 04, 2011, 11:40:13 AM

Quote from: mjoz on July 04, 2011, 11:05:05 AM

Quote from: peach on July 04, 2011, 10:56:15 AM

Quote from: GeniuSxBoY on July 04, 2011, 10:55:26 AM

how low will it go?

It bottomed @ 14.2. It's rebounding now, however.

A little rally at least. There is just too many coins on the market between 15 and 16 for it to gain any real traction.

These are not rally's just oscillating attempted corrections after the crash. Another thing is that only 10k or so coins have been traded in the last couple of hours. Nobody is unloading a shitload of anything.

10k in a couple hours * 12 = 120k per day, which is $1.8 million.

dinzy

full member

Activity: 140

Merit: 100

Quote from: mjoz on July 04, 2011, 11:05:05 AM

Quote from: peach on July 04, 2011, 10:56:15 AM

Quote from: GeniuSxBoY on July 04, 2011, 10:55:26 AM

how low will it go?

It bottomed @ 14.2. It's rebounding now, however.

A little rally at least. There is just too many coins on the market between 15 and 16 for it to gain any real traction.

These are not rally's just oscillating attempted corrections after the crash. Another thing is that only 10k or so coins have been traded in the last couple of hours. Nobody is unloading a shitload of anything.

TraderTimm

legendary

Activity: 2408

Merit: 1121

You guys have to realize that large swings are the nature of the bitcoin market right now. The order books aren't deep enough to absorb movement either way, so we have higher volatility as a result.

Like I said elsewhere, you can't expect to stay sane if you obsess over every damn wiggle.

Bitcoin Swami

full member

Activity: 182

Merit: 100

I think its great the the big early holders are getting rid of their early holdings.. leveling out the playing field. Better sooner than later.

GeniuSxBoY

hero member

Activity: 616

Merit: 500

Someone just unloaded a shitload of btc.

I have a feeling if someone unloaded a shitload of dollars, those big btc orders will cancel and move them higher

mjoz

member

Activity: 61

Merit: 10

Quote from: peach on July 04, 2011, 10:56:15 AM

Quote from: GeniuSxBoY on July 04, 2011, 10:55:26 AM

how low will it go?

It bottomed @ 14.2. It's rebounding now, however.

A little rally at least. There is just too many coins on the market between 15 and 16 for it to gain any real traction.

peach

newbie

Activity: 56

Merit: 0

Quote from: GeniuSxBoY on July 04, 2011, 10:55:26 AM

how low will it go?

It bottomed @ 14.2. It's rebounding now, however.

GeniuSxBoY

hero member

Activity: 616

Merit: 500

how low will it go?

peach

newbie

Activity: 56

Merit: 0

...and the rebound has begun.

dinzy

full member

Activity: 140

Merit: 100

Dwolla transfers take 3 days. The delay is so long that you are either in, or out. Many people have money in already and are just waiting.

tymothy

full member

Activity: 224

Merit: 100

Until it's a banking day in the US it'll be tough for buyers to get more capital into the exchanges via Dwolla or whatever.

mjoz

member

Activity: 61

Merit: 10

Quote from: Serge on July 04, 2011, 10:33:03 AM

Could be a sign of new rally brewing up

I think so but it has not started yet, and probably won't while those big asks are out there. Once it does start though it looks like it is going to gain momentum quickly.

Serge

legendary

Activity: 1050

Merit: 1000

Could be a sign of new rally brewing up

mjoz

member

Activity: 61

Merit: 10

Quote from: Nagle on July 04, 2011, 10:26:17 AM

It looks like the buyers on Mt. Gox just put in limit orders and took the day off. The market depth is slowly being eaten up as Bitcoins are sold and buy orders are used up.

I don't think "slowly" is the proper word, it's falling fairly quickly. If those last few thousand btc buys at 14 get fulfilled prices are going to drop rapidly. I'm sitting tight waiting to buy.

Nagle

legendary

Activity: 1204

Merit: 1002

Quote from: dinzy on July 04, 2011, 10:22:58 AM

~~Someone just removed a 20k BTC bid at 14.5.~~ Sorry it was a display glitch at mtgox live.

It looks like the buyers on Mt. Gox just put in limit orders and took the day off. The market depth is slowly being eaten up as Bitcoins are sold and buy orders are used up.

dinzy

full member

Activity: 140

Merit: 100

~~Someone just removed a 20k BTC bid at 14.5.~~ Sorry it was a display glitch at mtgox live. Or was it. confused, it's gone and it happened all at once.

I think this game they have been testing is finally on.

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: ?? on ??

Quote from: mjoz on July 04, 2011, 10:12:31 AM

It looks to me like there is a very deliberate attempt to push the prices down. If whoever is placing these thousand btc asks suddenly cancels there is going to be surge. For now though I would sit tight and wait for it to drop more. If you see the big asks get suddenly cancelled then it will be time to buy.

As long as enough people can trade with zero commissions Mt. Gox will be moving within a narrower than normal range.

Agreed, I think in time we'll look back and realise that the true damage of the Mt.Gox hack was not so much the bad press, but the fact that for a while afterwards people were trading with zero commissions.

mjoz

member

Activity: 61

Merit: 10

It looks to me like there is a very deliberate attempt to push the prices down. If whoever is placing these thousand btc asks suddenly cancels there is going to be surge. For now though I would sit tight and wait for it to drop more. If you see the big asks get suddenly cancelled then it will be time to buy.

dinzy

full member

Activity: 140

Merit: 100

Looks like a nice little crash is happening. Looks like it may only be another dollar, but hey it's something.

StewartJ

sr. member

Activity: 392

Merit: 250

This is not a day-trading exchange. Looks like the weekly chart data would better support swing trades, i.e. a trade every few days or so, IMHO.

SJ

Topic: CRASH! - page 9. (Read 24589 times)