Rate drops rapidly now | Bitcointalksearch.org

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: kireinaha on November 19, 2013, 11:30:12 AM

If we see it top up around $1000 this week and then stall, we may then legitimately have a new floor around the $300-$400 range.

I would be very surprised to see a drop to $300-400 after China's surge, the positive congressional hearings, and being the #1 Google Trends for yesterday. While those trends are a lagging indicator of price, they are also a good indication of new interest which generally takes around a week before putting any fiat in.

Keep in mind that *new money* saw a high of $900, so even a price of $500-700 if it sustains here for a day or two would seem like a good deal (and I believe it would actually be a good deal)

kireinaha

sr. member

Activity: 350

Merit: 253

I:m surprised it dropped so far overnight, maybe China is losing some steam? After yesterday:s performance, I expect it will pick up again today, and we should be able to top $1,000. If it rolls right past $1,000 and up to the $1,500 range this week, I expect that a return to the $100-$200 range isn:t too far fetched. I think what some people new to wild west style markets like this don:t realize is that the higher you build a speculative bubble up, the farther it has to fall.

If we see it top up around $1000 this week and then stall, we may then legitimately have a new floor around the $300-$400 range.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

So I'm not seeing why this is so bad. I mean, we're still above where we were before the Senate meeting, by like $150.

TERA

hero member

Activity: 728

Merit: 500

Oh when I think of panic selling I think of traders seeing the price drop and then impulsively selling. Not whales moving around massive amounts of coins beforehand to do premeditated dumping.

Maged

legendary

Activity: 1204

Merit: 1015

Quote from: TERA on November 19, 2013, 10:06:12 AM

Quote from: HappyBitCoinUser on November 19, 2013, 09:29:00 AM

People are panic selling, and the price is going down, probably back to $140.

Sell now while your coins still have value, before other people do.

No it's not panic selling

IMG

Huh? That looks like panic selling to me. "Linear" growth on the transaction volume (on the logarithmic scale, so not really linear, but you get what I mean) would indicate healthy growth to the bitcoin price, sure. Exponential growth, on the other hand, (again, on the log scale) means that people are running for the doors. This is otherwise known as panic selling.

antimattercrusader

sr. member

Activity: 308

Merit: 250

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: TERA on November 19, 2013, 10:06:12 AM

Quote from: HappyBitCoinUser on November 19, 2013, 09:29:00 AM

People are panic selling, and the price is going down, probably back to $140.

Sell now while your coins still have value, before other people do.

No it's not panic selling
IMG

*Whistles*

MoneyMorpheus

sr. member

Activity: 251

Merit: 250

I'm holding, china is sleeping and its price is 5047 cny, which equals to 828 usd. I think the rally will continue to at least 1k. I'm hoping I'm right Grin

TERA

hero member

Activity: 728

Merit: 500

Quote from: HappyBitCoinUser on November 19, 2013, 09:29:00 AM

People are panic selling, and the price is going down, probably back to $140.

Sell now while your coins still have value, before other people do.

No it's not panic selling

HappyBitCoinUser

full member

Activity: 182

Merit: 100

People are panic selling, and the price is going down, probably back to $140.

Sell now while your coins still have value, before other people do.

exstasie

legendary

Activity: 1806

Merit: 1521

If you keep an eye on stuff, it is very plausible to make some quick money. Especially when the price went from $850 down to $500...craziness.

ajax3592

full member

Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

Quote from: GigaCoin on November 19, 2013, 08:30:46 AM

I wish to see $200 again that would be a happy day !

Of course its coming Cheesy

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

I wish to see $200 again that would be a happy day !

BittBurger

hero member

Activity: 924

Merit: 1001

Quote from: drawingthesun on November 19, 2013, 07:07:24 AM

Please move this to the speculation forum. Bitcoin price rallies, drops and changes are not meant to be discussed here.

Pretty sure the moderators already know how to do their jobs.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Please move this to the speculation forum. Bitcoin price rallies, drops and changes are not meant to be discussed here.

Fairfax

newbie

Activity: 8

Merit: 0

I am glad to see the price go down, it will take less money to buy more coins and this is a good time to short bitcoin.

El Dude

hero member

Activity: 770

Merit: 500

litecoin holding strong

bitteriest

newbie

Activity: 52

Merit: 0

what a roller coaster. It makes me dizzy.
I wonder if it's a real volume or someone is just selling and buying like crazy from himself.

speeder

hero member

Activity: 994

Merit: 501

PredX - AI-Powered Prediction Market

The RSI at least is doing what it did in the last crashes: It got above 90 (94 this time) and now is getting down very fast (it is currently 72.9, but might go lower before the end of the day)

All last crashes (like this April, or the 32 crash) had the same behaviour in the RSI.

frankenmint

legendary

Activity: 1456

Merit: 1018

HoneybadgerOfMoney.com Weed4bitcoin.com

okay breathe.....look at prices from 3 days ago...it couldve gone either way with us seeing past 900 today or the pricecorrection happening to where we are back to the high 400s....I'm seeing it flutter around 650-660 ish on gox for the past 30 min. It was dropping fast before that.

Topic: Rate drops rapidly now (Read 2106 times)