This is nothing. | Bitcointalksearch.org

Torque

legendary

Activity: 3710

Merit: 5286

Quote from: thezerg on August 22, 2014, 11:18:13 AM

Quote from: alexeft on August 22, 2014, 10:49:38 AM

Quote from: addroup on August 22, 2014, 10:25:24 AM

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

Over leverage. Bitfinex long leverage has almost halved, and short leverage has doubled so the ratio long/short is 1/4 what it used to be.

Yeah, but leveraged longs can rush back into the market at any time. There's nothing to stop them if they start to see upward volume movement.

It's not like leveraging long was a one time thing.

alexeft

legendary

Activity: 854

Merit: 1000

Nope! Summer's almost over, people are back...

asganauei

newbie

Activity: 41

Merit: 0

Quote from: alexeft on August 22, 2014, 09:51:36 AM

We are actually dancing on top of a rocket that's ready to launch!!!

This sounds exciting but we were dancing so many times on this rocket that we broke it...

thezerg

legendary

Activity: 1246

Merit: 1010

Quote from: alexeft on August 22, 2014, 10:49:38 AM

Quote from: addroup on August 22, 2014, 10:25:24 AM

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

Over leverage. Bitfinex long leverage has almost halved, and short leverage has doubled so the ratio long/short is 1/4 what it used to be.

Torque

legendary

Activity: 3710

Merit: 5286

Quote from: alexeft on August 22, 2014, 10:49:38 AM

Quote from: addroup on August 22, 2014, 10:25:24 AM

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

Exactly. There is no such thing as a "healthy" correction. Is holding bitcoin in hopes that it will rise, unhealthy? If so, then we are all in trouble.

The only thing that changed was many holders' near term expectations. People rushed back into the market in April, and were holding for 5 months all through the summer, betting on a rally at the end of it that never came. Because silly TA charts, graphs, and lines told them so.

Bitcoin is Honey Badger; it doesn't give an f-- about silly charts, graphs, and lines. Grin

alexeft

legendary

Activity: 854

Merit: 1000

Quote from: addroup on August 22, 2014, 10:25:24 AM

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

alexeft

legendary

Activity: 854

Merit: 1000

Quote from: Dalmar on August 22, 2014, 09:58:11 AM

Most of the fiat invested in bitcoin was bought at prices over $500-$600.

This crash may look insignificant at face value, but it is creating many many bagholders (i.e. new resistance for future rallies). Hence, why bitcoin has the greatest difficulty going over $700 as of late.

It's always like that before a rally. The people who just bought become .... bagholders. They later become hodlers!!! Grin

Nothing to see here .....

addroup

member

Activity: 69

Merit: 10

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

JimNastics

newbie

Activity: 26

Merit: 0

Quote from: Dalmar on August 22, 2014, 09:58:11 AM

Most of the fiat invested in bitcoin was bought at prices over $500-$600.

This crash may look insignificant at face value, but it is creating many many bagholders (i.e. new resistance for future rallies). Hence, why bitcoin has the greatest difficulty going over $700 as of late.

Sshhhhhhhhhhhhh, stop talking sense in here!!

Dalmar

hero member

Activity: 1106

Merit: 500

Life is short, practice empathy in your life

Most of the fiat invested in bitcoin was bought at prices over $500-$600.

This crash may look insignificant at face value, but it is creating many many bagholders (i.e. new resistance for future rallies). Hence, why bitcoin has the greatest difficulty going over $700 as of late.

alexeft

legendary

Activity: 854

Merit: 1000

We are actually dancing on top of a rocket that's ready to launch!!!

Brewins

legendary

Activity: 1120

Merit: 1000

We need more time for it to appear big in the graphs. Let us see things some weeks from now

And it is more the dancing over a frozen lake situation that worries me, not the fall by itself.

zeroday

donator

Activity: 784

Merit: 1000

OMG. Falllling is right! We are doomed!!!

rogerwilco

member

Activity: 107

Merit: 10

I'm not forecasting whether or not it will drop more. But I am saying that, as drastic as the movement seems to have been, this has gotten nowhere close to the beartard targets. Even $350 is a long way off.

Topic: This is nothing. (Read 1638 times)