Simple reason for the price spike... why this weekend's dip will be deep

XXthetimeisnowXX

sr. member

Activity: 252

Merit: 250

a wolf in sheeps clothing. suckerfish

Quote from: superduh on July 12, 2013, 04:30:22 PM

Quote from: massivebitman on July 11, 2013, 11:57:56 PM

You've got to remember, this whole down spiral started on the back of America's recovery.

Bitcoin is a hedge against other investments.

There's only one way we can go with this, and that is.... DOWN.

Same with gold, pull your profits while you can!

you are clearly confused. bitcoin is not a hedge - unless to some - maybe you should go learn what bitcoin's similarities and differences compared to gold and fiat. random statements such as yours are borderline trollish

+1

superduh

hero member

Activity: 602

Merit: 500

Quote from: massivebitman on July 11, 2013, 11:57:56 PM

You've got to remember, this whole down spiral started on the back of America's recovery.

Bitcoin is a hedge against other investments.

There's only one way we can go with this, and that is.... DOWN.

Same with gold, pull your profits while you can!

you are clearly confused. bitcoin is not a hedge - unless to some - maybe you should go learn what bitcoin's similarities and differences compared to gold and fiat. random statements such as yours are borderline trollish

massivebitman

full member

Activity: 224

Merit: 100

Quote from: vokain on July 12, 2013, 01:38:41 AM

Quote from: massivebitman on July 11, 2013, 11:57:56 PM

You've got to remember, this whole down spiral started on the back of America's recovery.

Bitcoin is a hedge against other investments.

There's only one way we can go with this, and that is.... DOWN.

Same with gold, pull your profits while you can!

bitcoin is not a mature market, it still has room to grow whereas gold....

Agree. A lot of work is needed first though.

Bitcoin doesn't do much yet

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: massivebitman on July 11, 2013, 11:57:56 PM

You've got to remember, this whole down spiral started on the back of America's recovery.

Bitcoin is a hedge against other investments.

There's only one way we can go with this, and that is.... DOWN.

Same with gold, pull your profits while you can!

bitcoin is not a mature market, it still has room to grow whereas gold....

massivebitman

full member

Activity: 224

Merit: 100

You've got to remember, this whole down spiral started on the back of America's recovery.

Bitcoin is a hedge against other investments.

There's only one way we can go with this, and that is.... DOWN.

Same with gold, pull your profits while you can!

massivebitman

full member

Activity: 224

Merit: 100

If you ask me the fact we're up so high is crazy...

Bernanke has reassured the market...

http://finance.yahoo.com/news/futures-jump-wake-bernanke-comments-112529498.html

We're going down. Investors will pull, and at a quick profit. 90 is too high.

BitPirate

full member

Activity: 238

Merit: 100

RMBTB.com: The secure BTC:CNY exchange. 0% fee!

The rise is almost a perfect mirror image of the decline.

I hope too many people weren't shaken out.

Chrstian

full member

Activity: 185

Merit: 100

and.... walls gone Cheesy

PerfectAgent

sr. member

Activity: 252

Merit: 250

Still the Best 1973

I'm with you bro., This is just short term talk. I am a huge believer, and this Bitcoin thingy will take aooffff off i'll tell ya.

vokain

legendary

Activity: 1834

Merit: 1019

who cares, you can't time the $5-10 intra-week fluctuations. I'm loooong

PerfectAgent

sr. member

Activity: 252

Merit: 250

Still the Best 1973

60dollars to 90, id saythats' quite the inrfase increase. But the decrease was also rather sharp. Something done in this time period is sharp, no matter the market. This is why BTC is volatile, where price changes are this quick. Don't mistake me though, I mmam iam a longterm bull though.

XXthetimeisnowXX

sr. member

Activity: 252

Merit: 250

a wolf in sheeps clothing. suckerfish

Quote from: PerfectAgent on July 11, 2013, 08:20:58 AM

Also, a general rule of thumb is that any sudden or very rapid price change will face a correction. It happened with the huge slide down, and it'll happen with the big increase now.

the big increase?!?!!?!?!?! we go up a few bucks and you think its a big increase. ha i remember we would see ten dollar gains in an hour. callit now then we will see about 140-150 in two weeks.

frankenmint

legendary

Activity: 1456

Merit: 1018

HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: bronco on July 11, 2013, 02:00:59 PM

bitcoin undervalued? nobody knows real price. to me it worth few grams of weed , thats all

few grams = 8th = street value around 50 bucks...therefore your speculation postulates approximately 50 USD per 1 BTC.

Clarification for readers in cyberspace

massivebitman

full member

Activity: 224

Merit: 100

Quote from: kingcrimson on July 11, 2013, 07:37:55 PM

Quote from: PerfectAgent on July 11, 2013, 08:20:58 AM

Also, a general rule of thumb is that any sudden or very rapid price change will face a correction. It happened with the huge slide down, and it'll happen with the big increase now.

you seem to be ignoring the rapid price change from $100 down to $70, which is correcting back to the norm now that speculators window is closing. I believe the next course is $100-$120 which is the natural range. especially with mtgox USD withdrawals coming back, winklevii ETF and mtgox's new platform.

Yeah that's a good point, but we've been seeing progressively lower peaks and lower lows. My guess is the trend is still down and that the $100-$120 is reaching a bit far atm

PerfectAgent

sr. member

Activity: 252

Merit: 250

Still the Best 1973

Quote from: kingcrimson on July 11, 2013, 07:37:55 PM

Quote from: PerfectAgent on July 11, 2013, 08:20:58 AM

Also, a general rule of thumb is that any sudden or very rapid price change will face a correction. It happened with the huge slide down, and it'll happen with the big increase now.

you seem to be ignoring the rapid price change from $100 down to $70, which is correcting back to the norm now that speculators window is closing. I believe the next course is $100-$120 which is the natural range. especially with mtgox USD withdrawals coming back, winklevii ETF and mtgox's new platform.

The sudden drop is exactly what I'm talking about. Huge sudden changes are unsustainable in either direction. The same will happen to the sudden increase as it happened to the sudden drop.

kingcrimson

legendary

Activity: 1025

Merit: 1000

Quote from: PerfectAgent on July 11, 2013, 08:20:58 AM

Also, a general rule of thumb is that any sudden or very rapid price change will face a correction. It happened with the huge slide down, and it'll happen with the big increase now.

you seem to be ignoring the rapid price change from $100 down to $70, which is correcting back to the norm now that speculators window is closing. I believe the next course is $100-$120 which is the natural range. especially with mtgox USD withdrawals coming back, winklevii ETF and mtgox's new platform.

massivebitman

full member

Activity: 224

Merit: 100

Quote from: damiano on July 11, 2013, 01:16:34 PM

I wouldn't doubt a big whale shit this weekend. I'm actually betting on it.

It's really a great time to shit. Price is the best it's been in a week.

rampantparanoia

sr. member

Activity: 516

Merit: 283

Quote from: GigaDice on July 11, 2013, 06:18:59 PM

Quote from: PerfectAgent on July 11, 2013, 08:20:58 AM

Also, a general rule of thumb is that any sudden or very rapid price change will face a correction. It happened with the huge slide down, and it'll happen with the big increase now.

Can't agree more with you, I foresee the price of bitcoins to correct itself pretty soon. I'm still waiting on BTC to drop below $70 before I buy again.

+1... wheres my fitty?

GigaDice

full member

Activity: 224

Merit: 100

Quote from: PerfectAgent on July 11, 2013, 08:20:58 AM

Also, a general rule of thumb is that any sudden or very rapid price change will face a correction. It happened with the huge slide down, and it'll happen with the big increase now.

Can't agree more with you, I foresee the price of bitcoins to correct itself pretty soon. I'm still waiting on BTC to drop below $70 before I buy again.

FNG

hero member

Activity: 588

Merit: 500

Coincidental. Remember when a huge buy wall set-off the downtrend? It's sort of like that, but in reverse. The market reacts (idiotically) to big players. There was no reason to shit itself when a big holder took advantage of a big "buy wall" Now the market reacts to a buyer in a "sell wall"

Big money hasn't even joined yet so it's kinda funny watching huge reactions over $1 mil or so on either side

Topic: Simple reason for the price spike... why this weekend's dip will be deep (Read 3284 times)