Are you basically asking - "Should I stick some really low orders in , in the hope that someone makes a mistake and overloads and exchange with more coins than are currently in the order book?"
Topic: Do you think the btc-e flash crash will be retraced? (Read 937 times)
We would need a whale to dump a large amount of coins at once to have a repeat of that last flash crash. I wonder if the seller made a mistake or maybe they were getting rid of stolen coins.
In a nutshell.. flash price bottomed at 102.. most flashes are retraced.. we are heading that way now. What do you think about this? What would happen when we get there, to the overall crypto environment?
The highest volume on gox by far, was 12/16 april 2013. At between 50.01 and 117 (depending on your time frame). The btc-e crash bounced at that price range. I would have expected price to rebound there (on gox) and was interested in buying at that level (on gox). What happens now is difficult to forecast with the remaining exchanges as that volume support at 100 area is not there, so there may be nothing to hold up the price, though btc-e clearly acted like it was there.
I am a trader (of futures mostly) and have seen a few of these crashes retraced in traditional markets. I have built a few miners and bought a few alts as abit of a hobby, but mostly missed the interesting phases of play with cryptos.
I would be interested to know what you all think would / will happen re this flash price area and what would happen when we get there. There seems overwhelmingly +ve sentiment on the forums that price will hit $1000/$2000/$3000 etc. It seems likely it will retrace the flash to me, but i dont know for sure of course, these things arent always retraced. I wonder if some of the hybrid coins would begin to rise and cross paths with btc at a lower price point and leave it behind. btc price of 50 would make alts much more interesting, and its hard to see pow surviving in the wasteland of asics out there at that level.
Of course it could bounce there and move on up again, on another s curve..order of magnitude higher. But without that price support it seems dangerous to be in btc at all until it breaks 680 level, where all the volume is higher up, other than from a gamble pov.
I suppose what im getting at is this question,
what is the value of the gox volume at 100 area, is it worthless and should it be discarded as a support price?
and further, what of bitcoin at that level? what use is it to anyone? If it isnt used for payments as much as all had hoped, its worth is in its hashrate and power consumption maybe as some non correlated power commmodity, but only if it accurately reflects hash/kwhr price. I am not sure how many miners will continue to work at that point.
So i have some black/dark/cinni and am wondering about bcn, i like the idea of cryptos i just hope it doesnt all fall off a cliff if price does capitulate.
The highest volume on gox by far, was 12/16 april 2013. At between 50.01 and 117 (depending on your time frame). The btc-e crash bounced at that price range. I would have expected price to rebound there (on gox) and was interested in buying at that level (on gox). What happens now is difficult to forecast with the remaining exchanges as that volume support at 100 area is not there, so there may be nothing to hold up the price, though btc-e clearly acted like it was there.
I am a trader (of futures mostly) and have seen a few of these crashes retraced in traditional markets. I have built a few miners and bought a few alts as abit of a hobby, but mostly missed the interesting phases of play with cryptos.
I would be interested to know what you all think would / will happen re this flash price area and what would happen when we get there. There seems overwhelmingly +ve sentiment on the forums that price will hit $1000/$2000/$3000 etc. It seems likely it will retrace the flash to me, but i dont know for sure of course, these things arent always retraced. I wonder if some of the hybrid coins would begin to rise and cross paths with btc at a lower price point and leave it behind. btc price of 50 would make alts much more interesting, and its hard to see pow surviving in the wasteland of asics out there at that level.
Of course it could bounce there and move on up again, on another s curve..order of magnitude higher. But without that price support it seems dangerous to be in btc at all until it breaks 680 level, where all the volume is higher up, other than from a gamble pov.
I suppose what im getting at is this question,
what is the value of the gox volume at 100 area, is it worthless and should it be discarded as a support price?
and further, what of bitcoin at that level? what use is it to anyone? If it isnt used for payments as much as all had hoped, its worth is in its hashrate and power consumption maybe as some non correlated power commmodity, but only if it accurately reflects hash/kwhr price. I am not sure how many miners will continue to work at that point.
So i have some black/dark/cinni and am wondering about bcn, i like the idea of cryptos i just hope it doesnt all fall off a cliff if price does capitulate.
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