Topic: Great New Crashcorrection (fulfilled) - page 9. (Read 14826 times)
I wouldn't be scared if it went like the other times, harsh and hard down. I'd be scared if we get to 120s back in the same time it got up
I was thinking of the possibility of a new crash to come this weekend. Seems to me that the recent growth is too big to be sustained, it's really exponential!
History teachs us... the crash will be very very hard and quick.
We hardly need to look that far back to understand that. Many of us here have lived through bitcoin "crashes" that were harsh(er) and quick(er).
The price has only doubled once...all other crashes came after at least 4 doubling.
Twice?
Capitulation after the last crash was ~$70. Doubled would be $140. Doubled again would be $280. Doubled again would be $560. Doubled again would be $1,060.
If we hit $500 in a straight shot without a breather I would sell off some (always some, never all) and not lose sleep. If it hit $1,000 I would dump a lot more and be confident that I get another chance.
As much as I would like to play around with the market again (and I really, really want to), I'm so distrustful of any 3rd party with any significant sum of bitcoin that I'm just content to hold it, spend it, or sell person to person for cash. I don't know how people can tolerate the risk of having so much on any of the exchanges.
Exciting times. What if we'll reach a point from which will go down like with the same velocity of going down?
I was thinking of the possibility of a new crash to come this weekend. Seems to me that the recent growth is too big to be sustained, it's really exponential!
History teachs us... the crash will be very very hard and quick.
It is quite interesting there is little to no volume beneath it like April. Nice chart.
It's based on Mt Gox though.
Ahh, that's better. Is there a combined volume chart somewhere, or who's the leader now? Bitstamp? China?
here is a look at bitcoinity's data for combined volume vs price:
http://data.bitcoinity.org/#ccacdfdiaa
Supports my theory that the criminals have fled FINCEN registered exchanges and are now manipulating the price elsewhere. Specifically, BtcChina, where there are no trade fees and trading with oneself is encouraged through awarding shares. LOLOLOL.
Fools.
So many markets now you'd have to dump hard on all of them at once.
Mtgox weaknesses were part of the April $266 correction.
The markets are more robust, I think crashing is a thing of the past.
I think there is some smart profit taking going on here and there for those that are conservative.
Others that are more bullish are happy to find bargains at anything under $1000.
A "crash" now is just a bitcoin Flash Sale.
My humble sentiments.
Mtgox weaknesses were part of the April $266 correction.
The markets are more robust, I think crashing is a thing of the past.
I think there is some smart profit taking going on here and there for those that are conservative.
Others that are more bullish are happy to find bargains at anything under $1000.
A "crash" now is just a bitcoin Flash Sale.
My humble sentiments.
It is quite interesting there is little to no volume beneath it like April. Nice chart.
It's based on Mt Gox though.
Ahh, that's better. Is there a combined volume chart somewhere, or who's the leader now? Bitstamp? China?
here is a look at bitcoinity's data for combined volume vs price:
http://data.bitcoinity.org/#ccacdfdiaa
posted elsewhere but I expect some sort of correction but down to the previous all time high.
I'd be shocked if we went below 200 and say "Anything below 300 is a bargain"
I'd be shocked if we went below 200 and say "Anything below 300 is a bargain"
A week? Haha, where are those 'single digits by Friday' statements?
With appropriate volume Gox could crash within 6 hours.
AFAIK Gox had coin traffic overload issues, both from people wanting to cash out on other exchanges,
and from others who sent coins to Gox in order to dump while price is still high (and then buy low).
With appropriate volume Gox could crash within 6 hours.
AFAIK Gox had coin traffic overload issues, both from people wanting to cash out on other exchanges,
and from others who sent coins to Gox in order to dump while price is still high (and then buy low).
http://bitcoin.clarkmoody.com/
Set the period to 1W and zoom in enough to only show the current year to the present. We are due a crash soon.
*edit*
Or zoom way the fuck out. Zoom anywhere. We are going to crash within a week.
Set the period to 1W and zoom in enough to only show the current year to the present. We are due a crash soon.
*edit*
Or zoom way the fuck out. Zoom anywhere. We are going to crash within a week.
I was thinking of the possibility of a new crash to come this weekend. Seems to me that the recent growth is too big to be sustained, it's really exponential!
Exponential?? WTF are yo talking about?? You need to look at 2-month chart, not a 2-year one.
The price has only doubled once...all other crashes came after at least 4 doubling.
Twice?
Capitulation after the last crash was ~$70. Doubled would be $140. Doubled again would be $280. Doubled again would be $560. Doubled again would be $1,060.
If we hit $500 in a straight shot without a breather I would sell off some (always some, never all) and not lose sleep. If it hit $1,000 I would dump a lot more and be confident that I get another chance.
Well, the price has been steady for several months around $100-$125...so I see the first double at around $250.
That double took about 4 weeks. If it goes to $500 in 2 weeks then we know we are on track for $1,000 in a week after that. That is where it will become unstable.
Can you define conviction in this context?
The the rise is sustained, it has set a new floor, it shows a new leg upward, etc.
However as pointed out MtGox has lost marketshare so volume is a false indicator. We would need a chart of all exchanges combined price and volume to draw anything from it.
The price has only doubled once...all other crashes came after at least 4 doubling.
Twice?
Capitulation after the last crash was ~$70. Doubled would be $140. Doubled again would be $280. Doubled again would be $560. Doubled again would be $1,060.
If we hit $500 in a straight shot without a breather I would sell off some (always some, never all) and not lose sleep. If it hit $1,000 I would dump a lot more and be confident that I get another chance.
Can you define conviction in this context?
What does it mean when there is almost no "Volume" like that? Yet the price goes way up?
Large moves with little volume show less conviction then large moves with high volume.
The price has only doubled once...all other crashes came after at least 4 doubling.
There is no rule that says it can't increase exponentially. Bitcoin has proven us all wrong before.
Bitcoin™
What does it mean when there is almost no "Volume" like that? Yet the price goes way up?
UPDATE: does it matter if there's a combined chart? The price is also just gox.... so the volume is just gox ...
UPDATE: does it matter if there's a combined chart? The price is also just gox.... so the volume is just gox ...
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