I know I'm not selling my coins until it hits $30 USD. It reached that point and then backed down. No one in the right mind is going to sell right now when it's $25 USD.
famous last words
Topic: It looks like the Bitcoin's value is about to see a major retrace (Read 10056 times)
September 11, 2011, 01:49:18 PM
famous last words
September 06, 2011, 07:21:14 PM
For the people who own thousands of these coins, they were crazy if they did not sell some of their bitcoins when the price was over $30.
I think many tried to and that's why it quickly dropped from $30.
June 11, 2011, 09:53:49 AM
After the big downwards movement of some minutes ago, it went up just when it touched $13 as expected. Midterm bullish is still alive ATM.
June 11, 2011, 03:37:03 AM
since there's a correlation..
http://www.google.com/trends?q=bitcoin
seems like legitimate organic growth to me
I also believe that the value will go up. But don't forget to offer services for Bitcoins. Otherwise people will loose interest and sell. http://www.google.com/trends?q=bitcoin
seems like legitimate organic growth to me
June 11, 2011, 03:09:47 AM
since there's a correlation..
http://www.google.com/trends?q=bitcoin
seems like legitimate organic growth to me
http://www.google.com/trends?q=bitcoin
seems like legitimate organic growth to me
June 10, 2011, 03:50:37 PM
I just looked at Bitcoin Monitor, which shows all the different activity on the Bitcoin network, and it shows that the amount of trading is continuing to ramp up, while Mt Gox shows that those trades are sales whose ask price is decreasing further and further as people trying to sell are lowering their ask in order to get them sold first before price drops more. Price has already dipped below $20.
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
Another candidate for the "require 0.01btc payment for registration on the forums" to deter trolls.
I'm willing to bet you signed up just to post this.
Really, even if you're just trying to push the price down just so you can buy it cheap, you're doing a pretty awful job at it. The market will correct itself.
Then again, I do hope it goes well below $20 temporarily.
I'm not trolling, and the bubble comment was tongue in cheek. I actually have no intention to buy BTC, and only casually mine them. My day job however is that of a Forex intraday trader, so I find the bitcoin economy interesting and I've been following along with it pretty closely. As I said in my second post, I don't think the value will drop to nothing, and I know this is just a correction that will reverse if people actually start using bitcoins instead of simply speculating on them. I made this thread to warn people of the retrace and possibly help people realize that it was a good idea to sell *some* of their bitcoins at that time to recoup their initial mining setup costs. I'm sure the people who took my advice 12 hours ago are glad they did. I do not however think people should sell off all their bitcoins since we'll see a slow and steady rise back up as coins are actually put to use (when The Silk Road reopens its doors, most likely
)I think your initial post is pretty much spot on. Buyers are what's driving the vale of bitcoin. If the buyers lose trust, the bitcoin will lose value. I think we will see a strong correlation with people's trust as the gov't involvement increases in this. The gov't go after Silk Roads, but they are just going to re-open somewhere else right? So if the gov't can't stop Silk Roads, what's the next logical step? To take out the exchangers. When that happens, bitcoin is going to lose a lot value because many people treat it as nothing more than cash cow and not the digital currency it is.
June 10, 2011, 03:37:50 PM
I just looked at Bitcoin Monitor, which shows all the different activity on the Bitcoin network, and it shows that the amount of trading is continuing to ramp up, while Mt Gox shows that those trades are sales whose ask price is decreasing further and further as people trying to sell are lowering their ask in order to get them sold first before price drops more. Price has already dipped below $20.
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
Another candidate for the "require 0.01btc payment for registration on the forums" to deter trolls.
I'm willing to bet you signed up just to post this.
Really, even if you're just trying to push the price down just so you can buy it cheap, you're doing a pretty awful job at it. The market will correct itself.
Then again, I do hope it goes well below $20 temporarily.
I'm not trolling, and the bubble comment was tongue in cheek. I actually have no intention to buy BTC, and only casually mine them. My day job however is that of a Forex intraday trader, so I find the bitcoin economy interesting and I've been following along with it pretty closely. As I said in my second post, I don't think the value will drop to nothing, and I know this is just a correction that will reverse if people actually start using bitcoins instead of simply speculating on them. I made this thread to warn people of the retrace and possibly help people realize that it was a good idea to sell *some* of their bitcoins at that time to recoup their initial mining setup costs. I'm sure the people who took my advice 12 hours ago are glad they did. I do not however think people should sell off all their bitcoins since we'll see a slow and steady rise back up as coins are actually put to use (when The Silk Road reopens its doors, most likely
) June 10, 2011, 03:25:18 PM
Doesn't MtGox make like $100,000USD a month? Sup with servers being overloaded.
I don't know how much they make, nor do I care. But you can't deny their service is *slow*.
June 10, 2011, 03:23:30 PM
"Another trade is still in progress, please retry in a few seconds"
Funny how this keeps showing up during the retraces. It only seems to happen when you wish to buy BTC, putting up a sell order still goes through.
Funny how this keeps showing up during the retraces. It only seems to happen when you wish to buy BTC, putting up a sell order still goes through.
I've seen that when both buying and selling. Seemed like they were just overloaded.
Doesn't MtGox make like $100,000USD a month? Sup with servers being overloaded.
June 10, 2011, 03:20:16 PM
"Another trade is still in progress, please retry in a few seconds"
Funny how this keeps showing up during the retraces. It only seems to happen when you wish to buy BTC, putting up a sell order still goes through.
Funny how this keeps showing up during the retraces. It only seems to happen when you wish to buy BTC, putting up a sell order still goes through.
I've seen that when both buying and selling. Seemed like they were just overloaded.
June 10, 2011, 03:17:36 PM
I just looked at Bitcoin Monitor, which shows all the different activity on the Bitcoin network, and it shows that the amount of trading is continuing to ramp up, while Mt Gox shows that those trades are sales whose ask price is decreasing further and further as people trying to sell are lowering their ask in order to get them sold first before price drops more. Price has already dipped below $20.
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
Another candidate for the "require 0.01btc payment for registration on the forums" to deter trolls.
I'm willing to bet you signed up just to post this.
Really, even if you're just trying to push the price down just so you can buy it cheap, you're doing a pretty awful job at it. The market will correct itself.
Then again, I do hope it goes well below $20 temporarily.
June 10, 2011, 03:15:45 PM
The price could go as low as $12-$13 without losing it's mid-term bullish trend. This is a 3 month chart:
It could even dip a tiny bit lower than this as people percieve an "apocalypse" scenario. But they'll bounce back, and hopefully people will start to see the "risks" of speculation: maybe we'll see more actual bitcoin economic activity.
June 10, 2011, 03:15:00 PM
Quote
We may have just seen the shortest economic bubble of all time
too soon, there was no major incident that happend which could have an effect on the trading prices. self-adjusting, as some people wrote it in an another thread to 22-25$ till the difficulty rises. speculating with bitcoins is currently the most attractive thing to do if you like to gamble, because there is actually the chance to win something with it.
June 10, 2011, 03:09:44 PM
"Another trade is still in progress, please retry in a few seconds"
Funny how this keeps showing up during the retraces. It only seems to happen when you wish to buy BTC, putting up a sell order still goes through.
So people are seeing the price drop, selling, and old buy orders are getting filled.
I predict another spike to $30 when this error goes away as people try to buy back in for cheap.
Funny how this keeps showing up during the retraces. It only seems to happen when you wish to buy BTC, putting up a sell order still goes through.
So people are seeing the price drop, selling, and old buy orders are getting filled.
I predict another spike to $30 when this error goes away as people try to buy back in for cheap.
June 10, 2011, 02:54:22 PM
I can buy some at under 10$ finally 
June 10, 2011, 02:52:40 PM
I just looked at Bitcoin Monitor, which shows all the different activity on the Bitcoin network, and it shows that the amount of trading is continuing to ramp up, while Mt Gox shows that those trades are sales whose ask price is decreasing further and further as people trying to sell are lowering their ask in order to get them sold first before price drops more. Price has already dipped below $20.
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
With selling building up by the minute (literally), I'm willing to bet the price will drop all the way to $10.
We may have just seen the shortest economic bubble of all time
June 10, 2011, 02:51:05 PM
So funny, people selling out while the price is going down... 
June 10, 2011, 02:40:01 PM
I think: altogether 300 bitcoins are offered for the exact price of 30$
What?
Anyways, there's a pretty good bear market going on. At $15 I might actually purchase some BTC which I haven't done before.
Since it's weekend and US->DW/LR wires aren't probably moving I think it could go down in the mid 10s before bouncing up.
Not going to sell mining proceeds now, though.
June 10, 2011, 02:33:33 PM
I think: altogether 300 bitcoins are offered for the exact price of 30$
June 10, 2011, 02:27:50 PM
I newbie question: When I look at the Depth of market chart, the price is obvious the price of the bid or ask, what does the amount mean?
Does it mean A) the quantity of BTC only or B) the qty of BTC * the price?
Eg. If I see an ask (Price:$30, Amount:300), does it mean the person is selling 10 BTC or 300 BTC?
Does it mean A) the quantity of BTC only or B) the qty of BTC * the price?
Eg. If I see an ask (Price:$30, Amount:300), does it mean the person is selling 10 BTC or 300 BTC?
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