(In reply to post above, not saying a loss of 2/3s value is normal for a weekend
)Also, yey, $17
Topic: Why the rapid decline in price? - page 2. (Read 4378 times)
People can't get funds in on weekends. Simple as that, is it not?
(In reply to post above, not saying a loss of 2/3s value is normal for a weekend)
Also, yey, $17
(In reply to post above, not saying a loss of 2/3s value is normal for a weekend
)Also, yey, $17
If we all can see the price falls on weekends and rises on weekdays, why aren't we all making money by riding the trend? I don't really know what makes weekends so special. Is it because people are away from their computers and not monitoring the market? Mobile phones and wireless internet make it easy.
The next difficulty increase is going to be enormous. Maybe people getting back into the market are paying attention to that and the easy money it should yield. Big emphasis on "should".
The next difficulty increase is going to be enormous. Maybe people getting back into the market are paying attention to that and the easy money it should yield. Big emphasis on "should".
Because a bunch of down's syndrome panickers in their moms basement kept pushing the price lower and lower because they had a compulsion to get rid of all their BTC.
That, and it's weekend so Dwolla and wire transfers are tacky at best. On Monday-Friday there is slightly less variance of this kind IMO.
If you want to profit from these swings, buy when price goes extremely low. I did so yesterday at $13, and again today at $11.9 (didn't expect it to go as low as 10.25 though).
Then either keep it all & withdraw to your BTC wallet, or sell at the current high.
That, and it's weekend so Dwolla and wire transfers are tacky at best. On Monday-Friday there is slightly less variance of this kind IMO.
If you want to profit from these swings, buy when price goes extremely low. I did so yesterday at $13, and again today at $11.9 (didn't expect it to go as low as 10.25 though).
Then either keep it all & withdraw to your BTC wallet, or sell at the current high.
You must have understood that you stood to lose money on your investment.
I've just bought mining rigs which were designed to make 40 bucks a day and they're now making 13, that's how investments pan out sometimes.
Hopefully it'll go back up and its just because people were selling too much.
I've just bought mining rigs which were designed to make 40 bucks a day and they're now making 13, that's how investments pan out sometimes.
Hopefully it'll go back up and its just because people were selling too much.
For people getting into bitcoin this is a good thing.
This gives you a chance to buy more bitcoin at a lower price.
If you were looking for quick profits then not so good, but this is a very risky investment with big potential profits, that risk includes rapid drops.
This gives you a chance to buy more bitcoin at a lower price.
If you were looking for quick profits then not so good, but this is a very risky investment with big potential profits, that risk includes rapid drops.
IMO all these "why did the price go up xx%" or "why did the price go down xx%" can all be answered with the same one word "Speculation"
That doesn't explain anything.
IMO all these "why did the price go up xx%" or "why did the price go down xx%" can all be answered with the same one word "Speculation"
Everyone is saying "oh, it's alright, it's just because the $30 was unsustainable and the market is just stabilizing itself"
...Alright.
Seriously, it's dropped from $32 to $10. Wtf.
What's going on? I'm seriously getting concerned now. I've lost over $100.
...Alright.
Seriously, it's dropped from $32 to $10. Wtf.
What's going on? I'm seriously getting concerned now. I've lost over $100.
Jump to: