We are really testing the resistance at 90 right now...
theres no resistance till 88$
Topic: If price goes below 90, there'll be a big sell-off? - page 2. (Read 3322 times)
theres no resistance till 88$
We are really testing the resistance at 90 right now...
70`s we are comming, i mean im comming 
its alredy been at 88 lol
80$ here we come!
I think that people have already panic sold, or have been selling off some as the price has not moved. Even my husband has been tempted to just walk away at this point thinking BTC is not going anywhere. He has not done that yet, thankfully. I think that in spite of the fact BTC is not doing much, and has even declined, we are on the brink of some movement up again at any point. The big question that all of us do not know is when that will be! It could be today for all I know, or a few months down the road. There are some things in the works that can only stimulate it further though, with all the VCs pouring money in and the development of better services. It is just a matter of time and patience. Granted, there will be more ups and downs along the way. Those that are able can profit from that for sure. I just don't trust myself to be able to ride the waves as well as some of you seem to.
I have been awake for the last 18 hours, drinking heavily. Made 6 BTC so far. Hard to say if it was worth it really but i'm on a good buzz from 3am to midday so far.
Maybe that is my problem. I need to drink more to be good at day trading.
Some of you are very talented. Wish I had the guts to do it but it stressed me out. 
My guess is that we are in July or August 2011. Back in 2011, going from 32 to 10 was a huge panic sell, that was the bubble burst, which is equivalent to 266 to 50. The final panic selling that resulted in the $2 bottom happened 6 months later. That's the end of the bubble which inverts and people undervalue Bitcoin.
You can make the case for 50 being the new 2 of course.
You can make the case for 50 being the new 2 of course.
My guess is that the decline will take longer than 6 months this time.
I think that people have already panic sold, or have been selling off some as the price has not moved. Even my husband has been tempted to just walk away at this point thinking BTC is not going anywhere. He has not done that yet, thankfully. I think that in spite of the fact BTC is not doing much, and has even declined, we are on the brink of some movement up again at any point. The big question that all of us do not know is when that will be! It could be today for all I know, or a few months down the road. There are some things in the works that can only stimulate it further though, with all the VCs pouring money in and the development of better services. It is just a matter of time and patience. Granted, there will be more ups and downs along the way. Those that are able can profit from that for sure. I just don't trust myself to be able to ride the waves as well as some of you seem to.
I have been awake for the last 18 hours, drinking heavily. Made 6 BTC so far. Hard to say if it was worth it really but i'm on a good buzz from 3am to midday so far.
I think that people have already panic sold, or have been selling off some as the price has not moved. Even my husband has been tempted to just walk away at this point thinking BTC is not going anywhere. He has not done that yet, thankfully. I think that in spite of the fact BTC is not doing much, and has even declined, we are on the brink of some movement up again at any point. The big question that all of us do not know is when that will be! It could be today for all I know, or a few months down the road. There are some things in the works that can only stimulate it further though, with all the VCs pouring money in and the development of better services. It is just a matter of time and patience. Granted, there will be more ups and downs along the way. Those that are able can profit from that for sure. I just don't trust myself to be able to ride the waves as well as some of you seem to.
My guess is that we are in July or August 2011. Back in 2011, going from 32 to 10 was a huge panic sell, that was the bubble burst, which is equivalent to 266 to 50. The final panic selling that resulted in the $2 bottom happened 6 months later. That's the end of the bubble which inverts and people undervalue Bitcoin.
You can make the case for 50 being the new 2 of course.
You can make the case for 50 being the new 2 of course.
It would be great if we could say for certain that these things are what caused price changes with hindsight but even with hindsight it's not so easy to tell.
The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here.
And what was this panic in 2011 caused by? The panic selling is caused by multiple weeks of parabolic price action. Any other factors like news or order delay only serve to quicken/deepen it. Human psychology is always the same.That's right. Price action causes price action.
Exactly. People see it growing SO FAST and their profits increasing SO MUCH that they start fearing a deep crash as quick as fast was the growth. As you say, its just human psychology at work. Panic sells are basically triggered by the price going down fast, which in first instance can be triggered by some news (like the chain fork), but 99% of the times is just triggered by the dump of someone taking profits - no more, no less.
The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here.
And what was this panic in 2011 caused by? The panic selling is caused by multiple weeks of parabolic price action. Any other factors like news or order delay only serve to quicken/deepen it. Human psychology is always the same.****Image omitted*****
That's right. Price action causes price action.
Of course but on our timeline, we have already weathered this level of trading? In the last few weeks, low value has promoted a very stable price. Where would you say we are on your little chart, 10/11/11? The drop before taking off again?
DDoS stood for "Distributed Denial of Selloffs".
I've just been buying all the way down.
Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling.
Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance
True. Last time panic sellers did their thing was on April, 16th. Oh boy, that week between April 10th and April 16th... There was some real panic selling going on, on Wed Apr 10th there was a $10 bid/ask spread, 3 hours in a row of blind market sells with +20 minutes lag... Since mid April I would say that we didn't have a single episode of panic selling. Some dumping, yeah, last week of of April we also had some nice red candles... But panic? Nowhere to be seen since months ago.
The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here.
Never bought that crap. The blind panic was caused by the price rapidly crashing, let's be honest... Were you scared by the lag or by Gox's page going up & down? Seriously? No you weren't, admit it, because nobody was. Another concrete example: a couple of days ago Gox stopped working for hours. Did you see any panic when it came online again?
I'm sure that DDoS crap causing panic is BS, and in fact IMO Gox going down because of DDOS/lag on April 10th actually slowed the crash, as people couldn't connect and market sell, the page just didn't work... And then Gox did its magic "market cooldown", just to try to stop the crash. I was actively trading that day, I will never buy that fairy-tale story about DDoS that trigger crashes.
The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here.
And what was this panic in 2011 caused by? The panic selling is caused by multiple weeks of parabolic price action. Any other factors like news or order delay only serve to quicken/deepen it. Human psychology is always the same.
That's right. Price action causes price action.
I've just been buying all the way down.
Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling.
Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance
True. Last time panic sellers did their thing was on April, 16th. Oh boy, that week between April 10th and April 16th... There was some real panic selling going on, on Wed Apr 10th there was a $10 bid/ask spread, 3 hours in a row of blind market sells with +20 minutes lag... Since mid April I would say that we didn't have a single episode of panic selling. Some dumping, yeah, last week of of April we also had some nice red candles... But panic? Nowhere to be seen since months ago.
The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here.
I've just been buying all the way down.
Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling.
Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance
True. Last time panic sellers did their thing was on April, 16th. Oh boy, that week between April 10th and April 16th... There was some real panic selling going on, on Wed Apr 10th there was a $10 bid/ask spread, 3 hours in a row of blind market sells with +20 minutes lag... Since mid April I would say that we didn't have a single episode of panic selling. Some dumping, yeah, last week of of April we also had some nice red candles... But panic? Nowhere to be seen since months ago.
If I recall correctly the last time we fell below 90 it bottomed at ~87 and came back up from there pretty fast. However at that time we fell to it fast and Bounced back up, this time around it feels like a more protracted sustained drop.
I've just been buying all the way down.
Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling.
Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance
Maybe, maybe not. Losing over 5 percent of your value in 4 hours does have that underwear stained smell to it. Still, I'm up 6 BTC in those 4 hours so good times. BTC will recover eventually.
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