How deep do you expect the price to fall? - page 5.

DeathAndTaxes

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Gerald Davis

Quote from: matthewh3 on August 31, 2012, 05:00:23 PM

Quote from: owdbetts on August 31, 2012, 04:56:35 PM

I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt). All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat? That's a big assumption

Because some people would have only bought bitcoins because of Pirates offer??

No you know anyone like that. Pirate didn't con a bunch of bitcoin outsiders. Hell they (looking objectively from a distance) were more likely to see it as an super obvious ponzi. It was only the bitcoin enthusiast who thought somehow bitcoin could bend the laws of compounding interest.

My guess is the number of people who were complete outsiders to Bitcoin and bought solely to put coins into an obvious ponzi and will sell as soon as possible are a distinct minority.

Maybe it makes people feel better to think that but this was a "hometown" scam. The people scammed were the people right here in this forum long before Pirate started offering dumbass "wagers".

matthewh3

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Quote from: owdbetts on August 31, 2012, 04:56:35 PM

I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt). All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat? That's a big assumption

Because some people would have only bought bitcoins because of Pirates offer??

unclemantis

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(:firstbits => "1mantis")

I got my money on 8

owdbetts

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I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt). All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat? That's a big assumption

matthewh3

legendary

Activity: 1372

Merit: 1003

Quote from: owdbetts on August 31, 2012, 04:48:00 PM

I think it's clear that someone is trying to crash the market, by selling heavily at the beginning of the weekend, when they know liquidity will be limited by the inability to make fiat transfers into the exchanges. Exactly the same thing happened two weeks ago, and I'm guessing it's not unrelated.

How low will it go? I'm guessing this weekends attempt to crash the market will be far less successful than the previous, which triggered an overdue correction in an overbought market. This time round I imagine there are quite a few players who anticipated the possibility and more have exchange funds ready and waiting to buy back in when they sense a bottom. I expect a bounce.

My personal belief is that it will bounce back to $10-$11 and then trade sideways for a while. But I'm not a trader (of anything) not least because I know full well that I'm no good at trading. I mainly only do buy-and-hold. So I'm probably not the best person to listen to on this.

I think Pirate might start some payouts very soon and the market may lower further??

owdbetts

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I think it's clear that someone is trying to crash the market, by selling heavily at the beginning of the weekend, when they know liquidity will be limited by the inability to make fiat transfers into the exchanges. Exactly the same thing happened two weeks ago, and I'm guessing it's not unrelated.

How low will it go? I'm guessing this weekends attempt to crash the market will be far less successful than the previous, which triggered an overdue correction in an overbought market. This time round I imagine there are quite a few players who anticipated the possibility and more have exchange funds ready and waiting to buy back in when they sense a bottom. I expect a bounce.

My personal belief is that it will bounce back to $10-$11 and then trade sideways for a while. But I'm not a trader (of anything) not least because I know full well that I'm no good at trading. I mainly only do buy-and-hold. So I'm probably not the best person to listen to on this.

anthony.selby

newbie

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Well ... were at 10 dollars now ...

Stephen Gornick

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Quote from: the_thing on August 31, 2012, 10:25:55 AM

So.. after a short rebound, the price continues to fall.

There is a national holiday on Monday in the U.S.

In a downtrend, weekends tend to dip (well, historically, there is almost always a dip on weekends during a downswing):

- https://bitcointalksearch.org/topic/m.1147707

JMAHH

sr. member

Activity: 280

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Resistance at 9-9.5... I see it rebounding between 9.5 and 10, lower than 10 will break a barrier and many will buy - is my guess.

the_thing

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Proof-of-Stake Blockchain Network

So.. after a short rebound, the price continues to fall.
At which point (be it time or price) do you expect it to stop and go up again?

Later we will see how good speculators you are.

Topic: How deep do you expect the price to fall? - page 5. (Read 8906 times)