Topic: what are your thoughts on recent price drop? (Read 5110 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

600 posts almost ?

you're not very smart. If I was you , I would delete my bittalk account , forget about bitcoin , get some average joe shmoe job , like Mc d's or starbucks (seems good for your brain capacity)

20 bucks or less.

Some are saying it may even go below 200. I will wait some more time to see how it plays out before deciding. Right now the market is too confusing.

https://www.youtube.com/watch?v=GYJdOiLqSxE

Many reasons.

I think if there is a crisis people are more likely to run to something safe, not something wildly speculative with untrustworthy institutions.  

 
"what are your thoughts on recent price drop?"


I unplugged my S1's (may sell them/may undervolt) and bought a little: if it continues to drop in price I may buy a little more.
 

Can you explain why you think BTC cannot succeed? Seems to me it has already proven itself and jumped the significant hurdles. Perhaps BTC will languish until the next financial crisis, but at some point the mismanagement of fiat will have people looking for alternatives again, and I don't see a better alternative than BTC.

I dont hold. I have never really held much bitcoin, just small amounts here and there. I used to buy and sell bitcoin for paypal, but was never interested in personal gain. I just wanted to promote a viable alternative to government issued fiat. I had a fairly large litecoin mining operation and have bought and sold thousands of coins, but when I realized that bitcoin was not a viable alternative to fiat and that it had no chance of mass adoption I sold off all of my mining equipment and sold or gave away the rest of my coins. This was about a year ago, I am only back on the forums now in the hopes that people are beginning to realize that bitcoin is a flop and see if they are interested in developing ways to fix it. But I think the price will have to fall much lower before people are ready to consider a different way. Most of the people here have personal gain at the heart of their motivations, I am in it for social change not personal gain.    


186AfL2CiLjvdZWaHVdAz4iZLS4m69TfPE

No. Transactions   628   

Total Received   478.98136673 BTC   

Final Balance   0.00001 BTC

You are always posting negative statements in regards to bitcoin.
May I ask why you continue to hold if you do not believe in btc? 

All 30 of them.

The price drop is good to remove those speculators and consolidate the user base so that the most of them are true believers 

The value of Bitcoin to me has tumbled with increasing lack of confidence in the direction the Bitcoin Foundation is driving things.

If the Bitcoin Foundation wins the footrace against Sidechains and inserts exponential block size growth rates as a hard fork, I'll have not choice but to estimate the future value of the solution under the assumption that it will become yet another PayPal-like or VISA-like option.  That is to say, under direct control of corp/gov.  Naturally I'll adjust my position accordingly and try to play the herd dynamics to try to maximize my gain.

The bitcoin's drop against USD is comparable with Japanese yen's drop against USD, it is caused by end of QE3, but 6x more USD is already produced by QE3 and the effect will be felt later

You can never tell when is the good or bad time to invest. No one can exactly predict tomorrow's btc price. If you think btc has a future, just keep buying with fixed amount every month.

I think it is the right time to collect more bitcoins.

Imagine this as a rollercoaster. Then you will stop worrying.

At first I was thinking this was just the regular price drop. But now my guess is as long as the price gets jammed in a range, the BTC will have more chance to get established.

I think it's gunna rise soon. Buy now!

Get out now before it's too late.
I'll buy your coin to save you.

well comments like this are with nothing unless they say something.