Topic: Why the *POP*? (Read 2988 times)
It wasn't that bad either, already back around $1000,- and fairly stable. Will hit 1200 again this month I think.
What's wrong with being a weak hand? They will either learn the lesson, or go with their money in fiat.
Don't we need mass adoption? That being, not scaring away the 'weak hands'? Everybody here wants the 1 million USD bitcoin, yet everyone gloats when the noobs get hurt in crashes like these. It's a bit dual, isn't it?
If we want mass adoption in our lifetimes, we need the shakeouts. Each time we get a new group of people, they need to learn not to panic every time the price stops moving up. If we didn't have shakeouts, we would have a panic of epic proportions once we reach saturation. I'm talking, a 95% drop that scares the public away from bitcoin for a generation. It won't kill BTC, but you can kiss mass adoption goodbye for a few decades.
Why the pop?
Because sheep marketplace is down:
1) They dumped 5400 btc so the price dropped
2) Users of the site doesn't need their bitcoins anymore so they started selling
Because sheep marketplace is down:
1) They dumped 5400 btc so the price dropped
2) Users of the site doesn't need their bitcoins anymore so they started selling
So, did it help against the sentiment? 
If anything, such a "crash" and immediate recovery reinstates it firmly - confirming, that 1k is not a fluke or a bubble, but a solid price foundation for the coming rally.
If anything, such a "crash" and immediate recovery reinstates it firmly - confirming, that 1k is not a fluke or a bubble, but a solid price foundation for the coming rally.Well that's an axe that swings both ways, if 1k doesn't doesn't stick then it's pretty much a confirmed bubble.
Well , looking at the charts seems like the pop is turning into poop and splashing all over.
You're asking the wrong question. Why WOULDN'T it pop? Every indicator was pointing towards a correction - including the almost cartoon-like bullish sentiment on this forum a few days ago.
So, did it help against the sentiment?
If anything, such a "crash" and immediate recovery reinstates it firmly - confirming, that 1k is not a fluke or a bubble, but a solid price foundation for the coming rally.About the pop, wasn't the panic caused by some dumbasses believing that directory.io would lead to all possible bitcoin private keys being leaked? Was glad to see common sense winning quickly.
I've already heard many speculations about the reasons for it. Some say it's because of Black Friday, others because of this fake disclosed private addresses list.
What's your opinion? What caused it?
What's your opinion? What caused it?
You're asking the wrong question. Why WOULDN'T it pop? Every indicator was pointing towards a correction - including the almost cartoon-like bullish sentiment on this forum a few days ago.
Every time it happens, more and more people become immune to these flash-crash manipulations.
Today the price had a significant dip.
I've already heard many speculations about the reasons for it. Some say it's because of Black Friday, others because of this fake disclosed private addresses list.
What's your opinion? What caused it?
~W-M
Really i wouldn't call this even a correction, just a small dip, the price went down quick a couple of times and then went up quicker. I mean if you slept through it or you were walking your dog for a couple of hours for example and then checked the prices, you wouldn't have even noticed this happened! you'd be like "oh it dropped like $50 since i last saw it, k cool" but that's it.
We might see a real correction in the coming days.
Any price above 5400 CNY is a recovery from that weekend dip. If it goes below 6000 you might right. But I wouldn't bet on it.
I stopped watching gox's price. China looking robust.
How is China looking robust? The chart looks like it wants to retest low. If it breaks below 5968, this is going to go lower. In fact, next stop would be around 5000. I'm not rooting for it, but we need to see some follow through on this recovery over the next 10-12 hours.
bitcoin cant go up from 1000 to 10,000 without some dips, would be suspicious 
I stopped watching gox's price. China looking robust.
I am not convinced this correction is over. All the exchanges look like they want to test the lows again to me.
Of course, the one thing that could stop this would be new money coming into the banks in about 4 hours.
Of course, the one thing that could stop this would be new money coming into the banks in about 4 hours.
Here's how I saw it: $$$
Here's how I saw it: When BTC dipped a bit in China and went to 5400 CNY gox went down. Many people were watching Gox. China went back up to 5500 while Gox was still down and lagging. Now, while price was already recovering, a whale on BTC-e decided to put up a huge sellwall. Chart looked like a bloodbath for a while causing panic although China was way back up and even Gox price recovered. Whale went shopping for cheap coins and of course, everything was back on track right before bed time.
there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.
Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas.
I say it could reach $10,000 by June 2014.
there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.
Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas.
i've seen tons of threads and predictions of "it's grown too much, it simply cannot sustain its current rate of growth.. but nothing grows that fast."
there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.
Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas.
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