Let’s All Admit that the Bitcoin Price Bubble Has Popped

blade87

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Quote from: BTC.sx on January 17, 2015, 03:57:35 PM

Below is a chart that shows the stages of a bubble bursting and the aftermath:

I agree with this, maybe more flat instead of up like that, except for the very end final capitulation. Why? Because unregulated. This market has proven too volatile time and time again for good traders to ever leave it. And it just keeps expanding. Some will argue it has already gone mainstream. Mainstream in the sense that it is known, yes, but utilized - no. We have to see that. The question is then will that happen? If it does we see new highs.

MatTheCat

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Quote from: seleme on January 17, 2015, 09:39:14 PM

Quote from: ElectricMucus on January 17, 2015, 04:28:41 PM

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

Not a single EW analyst thinks that. None.

Plenty do.

DanV for one had that very scenario nailed and predicted Bitcoins bottom coming in the $100 range, back when most people would have considered this to be utterly unthinkable, including even myself. In actually fact, the recent bottom has overshot DanV's forecast as it punched through his long term support line. I would be interested to see what DanV's views on Bitcoin are at this time.

btw...how is your shitcoin portfolio doing? Still 'hodling'? Cheesy

manselr

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I was a believer in a double figure correction but thinks are looking good now with the Winklevii new exchange which seems serious, we may see old money coming in.

picolo

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Quote from: Erdogan on January 25, 2015, 07:22:40 AM

Quote from: picolo on January 25, 2015, 04:42:37 AM

Quote from: dumbdragon on January 18, 2015, 04:40:54 AM

When people compare Bitcoin price to commodities I cry inside a little. Bitcoin is so much more volatile than anything else that it doesn't work in the same way.

If Bitcoin was a bubble and it popped, the price would have gone sub 2$

Bubbles are good. When deflated, reflate. Ask Krugman.

Bubbles are bad except when you buy before the bubble starts and you sell at or near the top Wink

Erdogan

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Quote from: picolo on January 25, 2015, 04:42:37 AM

Quote from: dumbdragon on January 18, 2015, 04:40:54 AM

When people compare Bitcoin price to commodities I cry inside a little. Bitcoin is so much more volatile than anything else that it doesn't work in the same way.

If Bitcoin was a bubble and it popped, the price would have gone sub 2$

Bubbles are good. When deflated, reflate. Ask Krugman.

picolo

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Activity: 1022

Merit: 500

Quote from: dumbdragon on January 18, 2015, 04:40:54 AM

When people compare Bitcoin price to commodities I cry inside a little. Bitcoin is so much more volatile than anything else that it doesn't work in the same way.

If Bitcoin was a bubble and it popped, the price would have gone sub 2$

caga

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Looks leike it bubbled, and its forming again. 250 Going strong.

fearlesscat10

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It's been going up lately but I don't think we'll reach $400 yet. I think we'll fluctuate around the $200-$300 levels. There hasn't been a reason for it to go up any higher. It could probably go lower to $150 again but I'm not so sure it'll drop to sub $100 anytime soon.

minerpumpkin

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A pumpkin mines 27 hours a night

Depends whether we are in for another re-test of $150-ish. That could be an even better opportunity to grab some even cheaper coins. But I think not having any BTC right now to be quite dangerous. Starting to feel really bullish again!

HarmonLi

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Activity: 350

Merit: 250

Honest 80s business!

Which bubble? I think we've yet to see the 'real' bubble! We may see prices 100 times the current price. The truth is: No one can know where we're going. But I think the upside is still very wide open. It's highly interesting!

BillyBobZorton

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I'm hodling until the end. I have a job. I have a retirement plan. I have other things I can sell if I have unexpected expenses.

And I have a strong belief that cryptocurrencies will change the world. No weak hands shall prosper, hodl tight believers.

But in addition to hodling I do spend and replace. It's important to support the economy whenever possible.

ronald98

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Quote from: madmax6688 on January 21, 2015, 06:08:22 AM

Quote from: ElectricMucus on January 18, 2015, 11:11:37 AM

Quote from: madmax6688 on January 18, 2015, 05:08:45 AM

Quote from: caga on January 18, 2015, 05:04:15 AM

Quote from: ElectricMucus on January 17, 2015, 04:28:41 PM

Quote from: Blazr on January 17, 2015, 04:19:43 PM

Quote from: ElectricMucus on January 17, 2015, 04:16:33 PM

It's the first time that price went below the high of the previous cycle.

It's done that before. What about back in 2011 when it went from $15-$30 and then down to $3?

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

Is the current wave 7? Or do you think it is yet to come ?

We could be at the dawn of wave 7.

You better never tell that a real Elliott follower. There are people who believe in this stuff.

Who is this Elliott I keep reading about?

http://en.wikipedia.org/wiki/Ralph_Nelson_Elliott

http://en.wikipedia.org/wiki/Elliott_wave_principle

Cluster2k

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What we really need to know is who will be the next MtGox/Willy/Markus. Clearly that was responsible for the mega $1200 2013 bubble, with speculators piling in to follow the momentum. I bet Elliot Waves can't predict when we'll next see alleged fraud by an exchange.

fearlesscat10

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Activity: 686

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Quote from: ndnh on January 18, 2015, 11:34:34 AM

Quote

Let’s All Admit that the Bitcoin Price Bubble Has Popped

Time for the next bubble. Jump abroad, mateys.

So $150 was the bottom?

waaat?

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Just good bitcoin has built in high inflation due to socialist distribution philosophy - this way we get them coins extra cheap.

Bitcoin could have become a commodity. It fucked up.

madmax6688

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Quote from: ElectricMucus on January 18, 2015, 11:11:37 AM

Quote from: madmax6688 on January 18, 2015, 05:08:45 AM

Quote from: caga on January 18, 2015, 05:04:15 AM

Quote from: ElectricMucus on January 17, 2015, 04:28:41 PM

Quote from: Blazr on January 17, 2015, 04:19:43 PM

Quote from: ElectricMucus on January 17, 2015, 04:16:33 PM

It's the first time that price went below the high of the previous cycle.

It's done that before. What about back in 2011 when it went from $15-$30 and then down to $3?

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

Is the current wave 7? Or do you think it is yet to come ?

We could be at the dawn of wave 7.

You better never tell that a real Elliott follower. There are people who believe in this stuff.

Who is this Elliott I keep reading about?

ndnh

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New Decentralized Nuclear Hobbit

Quote

Let’s All Admit that the Bitcoin Price Bubble Has Popped

Time for the next bubble. Jump abroad, mateys.

ElectricMucus

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Marketing manager - GO MP

Quote from: madmax6688 on January 18, 2015, 05:08:45 AM

Quote from: caga on January 18, 2015, 05:04:15 AM

Quote from: ElectricMucus on January 17, 2015, 04:28:41 PM

Quote from: Blazr on January 17, 2015, 04:19:43 PM

Quote from: ElectricMucus on January 17, 2015, 04:16:33 PM

It's the first time that price went below the high of the previous cycle.

It's done that before. What about back in 2011 when it went from $15-$30 and then down to $3?

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

Is the current wave 7? Or do you think it is yet to come ?

We could be at the dawn of wave 7.

You better never tell that a real Elliott follower. There are people who believe in this stuff.

madmax6688

full member

Activity: 215

Merit: 100

Quote from: caga on January 18, 2015, 05:04:15 AM

Quote from: ElectricMucus on January 17, 2015, 04:28:41 PM

Quote from: Blazr on January 17, 2015, 04:19:43 PM

Quote from: ElectricMucus on January 17, 2015, 04:16:33 PM

It's the first time that price went below the high of the previous cycle.

It's done that before. What about back in 2011 when it went from $15-$30 and then down to $3?

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

Is the current wave 7? Or do you think it is yet to come ?

We could be at the dawn of wave 7.

caga

full member

Activity: 238

Merit: 100

www.secondstrade.com - 190% return Binary option

Quote from: ElectricMucus on January 17, 2015, 04:28:41 PM

Quote from: Blazr on January 17, 2015, 04:19:43 PM

Quote from: ElectricMucus on January 17, 2015, 04:16:33 PM

It's the first time that price went below the high of the previous cycle.

It's done that before. What about back in 2011 when it went from $15-$30 and then down to $3?

It went from cents to $32, to $2. What happened after didn't create a new high or low until $266.

32 was wave 1
266 was wave 3
1200 was wave 5

everything in-between were sub-waves.

Is the current wave 7? Or do you think it is yet to come ?

Topic: Let’s All Admit that the Bitcoin Price Bubble Has Popped (Read 2788 times)