Topic: what are your thoughts on recent price drop? (Read 5102 times)

You too buddy... yeah I turned pretty bearish on bitcoin because I realized its not a currency. I felt kinda foolish for ever thinking it was to be honest. I am not against bitcoin at all but no longer support it either. I was mainly trolling the forums to see if anyone was making what I would consider to be a "true" digital currency.

I believe the vicinity of end of year party, contributed slightly to this decline. But there are other things influencing the fall

Wow, sublime5447 is back...
sure changed your tune, but good to hear from ya...

Your profile says -

Trust:   -4: -1 / +2(2)
Warning: Trade with extreme caution!



Nice

What? Bitcoin prices aren't falling to 50 usd lol.
I think it's gunna rise in the long term, don't let the short term drop bother you. What I think is it's actually a great time for buying

Yeah, but only 6.6x less than today's high

I think that's wildly excessive. It's 24x less than the ATH.

Falling to 50 USD ?

Lol

Derp

Me desperate? LOL

I sold all my coins in the US$ 600 range, you can check my message history.

I think the ones who are desperate are the ones that are seeing bitcoin slowly drop.

But I don't think that anyone should get desperate, even those who are holding the bag right now, because my prediction is that, after falling to ~$50, bitcoin will eventually bounce back to well above $5,000 in the next couple of years. So even if you are stubborn and hold your coins now, eventually, you will make a lot of money too, just not so much as people who sold all and are going to buy back in when it's way cheaper.

I think you may find the answer to be a lot more simpler than al your predictions.

Making money trading most markets at the moment is becoming very very hard due to the lack of volatility which means its not much fun.

I am led to believe that bitcoin is attracting a lot of Wall Street Traders as they can make money on the big swings.

If this is true then the current sentiment, to make short term profits, has been to "Short".

What is interesting is that there have been one or two big indicators that 'shorting' is running out of steam. The 30,000 dump fixed at $300 a couple of weeks back took less than 5 hours to be chewed through and then the market bounced. If bitcoin is really doomed then you need to offer up an explanation as to why those coins were purchased so quickly (especially as the market had dropped to $275 just prior) and why the bounce!

So, if it is short term trading activity then remember they will quickly switch to exploit a rising market because they can make money this way too.

I think you will find there is a lot of money waiting in the wings for clear signs of a solid recovery which will then fuel a rapid rise. A $100 rise can happen in less than half a day with bitcoin and then you just need to decide whether its a short term peak and the traders will start to short back down or its going to move up another $100 to +$500.

THIS is why its so attractive to traders. Ask yourself one question.. Is the technology solid because if, it is then long term it will rise as demand expands market Cap! BUT the traders, will swing the fek out of it along the way because thats what traders do!!

I think what you mean is you want the price to go down so you can buy back in as you have stated on this very forum.

You hold no bitcoins. You have no stake in the price. Unless you short on margin (ha ha) literally the only avenue you have to try and goad the price lower is putting pathetic threads on the forum to try and encourage selling in others. Starting to sound a bit desperate to be honest.

Now tell us how you will 'feel' when the price moves upwards back towards $400 and beyond.

We are going down, that's for sure, and I'm talking about <$50 down in the first months next year.

Sell now and buy back in when it's <$50.

You've been warned!

Only sure thing is that no one knows if we are doing up or down.

So make your you conclusions(they will have no better chance of being right than anyone's else predictions) and invest or cash out at your own risk

Hal Finney had a huge amount of bitcoins, most of which were sold when he found out he did not have long to live and would need to pay for expensive medical care in what time remained to him. Suppose the "Bear Whale" is in a similar position? If you knew you did not have long to live would you take what money you could get now?

I like btc about other high potential short/long term investments for someone in my position

This time last year, BTC was about to make its run to $1,000, but this year it won't go that high. I think the price will go up at some point, but a lot of the recoveries are just sellers buying back, and then losing more and selling again.

to determine if  bitcoin  price  is  high  or  low, one  has to  evaluate  how  many 
coins is  in  possession of  speculators

That is not a post counter newbie.

Name:   sublime5447
Posts:   2152
Activity:   574

I would say the main argument is that bitcoin is a psuedo currency that was pumped by a bunch kids speculating. I would say that is dead right.

LOL , this guy ,

you believe the logic of an old fart , talking on CNN , with some other guy that doesn't even understand what BTC is all about.

His main argument for bitcoins failure is :  not enough people use it
 
lmfao , 600 posts , you're dumb as heck