Bitcoin Forum

Best case - buy back when the dump is over, price rebounds Monday.

Okay case - price continues to fall, I'll take my losses and avoid being a bagholder for six months.

Worst case - I just sold into the daily low and it's about to rebound right now. :-X

Keeping, I think the price will increase in the next 2-3 days.

Im not gonna sell. If it fall more im gonna buy.

Remember, sell when others are buying, buy when others are selling.

People still underestimate this selloff. We crossed below several trendfollowing exit thresholds so even if we rebound we are still going down....
At least till december imo.

Not in such an illiquid market that a single player selling can wipe out the entire thing.

I feel it is going to stop very early. We would go up tomorrow and so on

I very much doubt that. Going totally all-in is actually an option right now, I've never seen such a buying opportunity with Bitcoin.

The basis for this is that regardless of the bubble & crash Bitcoin fundamentals are stronger than ever. Block reward halving is also getting closer and closer which will most definitely cause upward pressure.

Currently a good strategy is to buy and buy more the lower it goes.

If we go down that speed till December, we're at -400

Yea it might be last chance to get coins at single digit.

That's all good and well, but what about the guy that's got 500000 BTC burning a hole in his pocket?

lol obviously not at this rate. Idk what the bottom will be something lower singe digit i guess. The longterm linear uptrend probably will stay untouched.

I actually wondered about the same thing. From a technical analysis point of view we should keep going down till 5$ from here on. But since this fall is to large parts attributable to some freak outside event (Pirate) and only partly to a correction of the bubble, I have good hopes that we will return quickly to where we left off.

You've gotta be kidding me. Now it rebounds.

http://stuff.mit.edu/tweb/map-parse/B43A28R64EA282A25A29A210DA3cR4EA3cW65A28O1RA5dK5DA41Z3EHYA2bT501UA2123PA60A60A0a?37,20

You're doing the correct decision.
It's hard, but you know when to cut loses, I appreciate it.
At Monday, people will sell 10-25% of their coins after they get it back from pirate just in case bitcoin will keep going down to $5, this is not over yet.

All this for three hours sleep on Friday night. I have no doubt I would've sold into the peak had I seen it. Time will tell...

I disagree. This is You-Know-Who selling off and running for it. Plus some stupid panic sellers like me. Thanks to all the even more stupid panic sellers I could buy them all back at a handsome profit. I think all the other early panic sellers think the same - and now have a lot of $$$ on the Exchange. Obviously, the last panic sellers get the lantern. Just like in a good old Ponzi.

$0.5 - $0.6 correction before the price is drop even further looks normal to me.
You can't see the previous bubble chart, but that's what the chart is doing all the time (until now).
Price drop, dead cat's bounce for $0.5-$0.6, drop again...

http://btccharts.com/#m=mtgox-BTC-USD

What's the problem here? People were dreaming of buying cheap bitcoins not so long ago. So now's your chance.

Yeah, now that I've sold I can quite happily admit I was firmly in denial. My brain is telling me you're right. My heart .... wants a beer and some McDonalds. I'm gonna go with my heart. C'yall in half an hour.

What price did you get?

He carefully picked lowest point to sell.

buy high, sell low.  If only pitate40 would have named himself "Obama" cons really could blamed everything on Obama and been right about it for once.

Ha.

I'm keeping 'em.

i dumped at 13.  buying later today at $7

Dumped at 15, got some ice cream and came back to chaos.

dumped at $15 and bought again at $11.50 so mixed news.

Only 20% gain in a single day? You pity me. Can we donate some?

I think it will drop to $6.50 then another slow rise for a couple of months ready for a Christmas bubble.

i'd be on the buy right now...but

NO LIQUIDITY, NO LIQUIDITY!

Heh... I didn't even know about the dump until I got an email from MtGox telling me my buy order at 10.5 went through.  I was like, "wtf, really?"   Prices at that point were above $14 and I was curious.  Then I saw the dump.  ooooooh.
 
I didn't have any money left to wait and buy as it dropped (plus I was at work and didn't have time to monitor).  Oh well, I'll just have to wait until it climbs back up.
 
I'm long-term anyway, with some minor "day trading"

Me thinks recent rise from 5 to 15 was due to people buying to invest in pirate 7%/week scheme; now it's going back to 5, and probably could dip into 1-2 range because pirate must sell his earnings (which is 500k bitcoins)

Me thinks $8 is the floor

I cashed out at $14.91 on the way up. I just didn't feel like the rally could be supported. I'm going to sit out for a day or two and see what happens now. $$$ is in the exchange though, just waiting to double the amount of coins I had   ;D

hurry, buy now! before it drops!  ::)

Pics or it didn't happen  ;)

If I sell at the wrong time I take a loss and end up with fewer BTC over the long run.

If I sell at the right time, I make a profit and owe taxes to a bloated government that thinks "You didn't sell that."

So no.  For me, dumping was never an option.  There were other ways for a mostly all-in investor to hedge against stable or falling prices, the simplest assuming mining difficulty will follow price.  The exchange rate can do whatever it pleases, and tomorrow I'll be slightly wealthier by most measures that I care about.

I dumped at 14.7 because I got scared. So much heat. And I couldn't resist taking the profit.

Then the price rose to 15, then 15.2 and I found myself tempted to panic-buy. Fortunately, my girlfriend was upset about me starring the whole day at may cellphone (she knows what I am doing when the screen is orange [MtGox app]), so I put away the phone. We went for lunch.

Price dropped to 13.1 and I was feeling great. Too great, as I bought 25% of the coins sold back, waiting to buy more. Still panicking. Price dropped further and further. Today I bought another 25% back at 9.2.

Now, I think I'll wait for what happens. If I just could predict it. I made more than 1K$ profit which decently adds to my holiday pocket  ;D but the last two months just felt so good I want to feel it again.

If price drops any further, I'll wait for 5$ to buy back in, maybe even lower. If price stabilizes at [9-11] range. I'll buy back in after a couple of weeks, if price rises I'll sell everything at 12.

After all, I am a bad trader. All this panicking  :o

This.  On the bright side, this, what, the third time people will get z chance to be early investors.  Hey, maybe in the end everyone will get to be an early investor!?

When is the time for late investors!?

Don't worry mate, you will find another girlfriend.

SatoshiDice has nothing to do with it? And the rising revenue on certain online markets?

Another girlfriend (by simply being a girl) would result in the same "problem" ;) I keep dumping girls coins.

Again, @9.55 I panic sold the coins bought at @9.2 feeling somewhat uncomfortable. Damn, that feeling was right. 8.8, already. Time to buy? Must be a panic buy for me to work out.

PANIC!

Smart money's chilling with their fiat dollars while they wait for a rebound.

Smart money's already bought back in so they don't have to fight for the few BTC still for sale against everyone else sitting with fiat in their accounts now.

I'm currently taking a dump, however I have no plans to dump my BTC ;D

Good morning!

So I didn't dump at the bottom after all, huh?

When markets scare you, it's important to know where you are.  ;)

https://i.imgur.com/2F4B51S.png
http://www.bitcoincharts.com/charts/bitstampUSD#rg60zigHourlyzczsg2012-05-01zeg2012-09-30ztgSzm1g10zm2g25zv

This just shows that holding Bitcoin for a few years is the best possible option. I will keep holding my coins for plenty of years. How bad markets might look at a certain point, the long term will make you smile.

Haha thanks for bumping that thread. :)
This just shows me that holding for a few years or even longer can't be that bad.Therefore I will keep my strategy and continue to buy a bit more everytime I have a possibilty to do so, meaning some fiat left.

+1

It was all quiet in my bitcoin Coinbase wallet during all the last eventful days. I had not any temptation even when the price overpasses the 500 us dollar. My few bitcoins there wait for much more high price. In this way will have meaning even its existence and the amount (few). I don't want to speculate and for more dump those. Maybe to find others yes but to sell those; it is yet early. I am for the long term waiting and profit. Hoping than one day they will arrive the price I have in mind or at least a price near it.

^^that's 2012  ;D

Hmmm, lemme check my trade history for the last 48 hours ...

Tuesday-evening: sold BTC at $355 and decided to sleep in fiat.
Wednesday-morning: bought back in at around $310 and thus gained an amount of crypto. The minutes before I went to bed that evening, I saw the price plummeting under $300. Decided to sleep in fiat again, convinced I would see $260-270 the next morning.
This morning: saw to my surpise $325 and bought back in quickly (n00b, I know). Eventually managed to get a small profit over these trades, but it shows trading isn't my strong point ... !

hm.. i dont think price will go below $300 and i think now is the time you get bitcoin in the cheap price but if dumping happened again i will buy bitcoin again

i did not sell any of my bitcoins as it is like an investment for me i believe that after some time its price will rocket to the new heights

Great bump, I remember this thread from then and thinking of selling after the fall from $15. Glad I didn't.... This latest drop looks so similar to the 2011-2012 charts.

The zig-zag'ing around also sounds familiar, i just hope they are real patterns, and not something that we see because it suits us :)
Patterns are similar , regardless of the price - just look at values in percentages, ignore other values, it makes them easier to read.

haha i read about 2 pages before i realised it was from 2012, was confused about the prices being quoted have to admit.

 ;D


I have also been thinking this last mini bubble is similar to ones in 2012

https://www.tradingview.com/x/EvKcyUHb/

I don't think the bubbles will follow the same trends as before. Institutions are here and the charts will show it. Look how choppy the rises have been before, and look at that sweet parabolic uptick we had. Pro's are here, probably to send this shit to the moon. We are very low in price compared to where bitcoin COULD go.

There's nothing "mini" about the first 300% rise you are calling Mini Bubble there. It's the second largest price rise of the period (first being ~12 to ~150).

I dumped my girlfriend, these hoax ain't loyal. I never dump my Bitcoin, she's my new girlfriend now. I might think to dump her too if I see she's overbought in a short term. If she come back again, then she's mine. ;)

Not sure what you are looking at but the log price scale makes it easy to compare percentage gains just by comparing the size of the move. Its all relative but for bitcoin those are mini, they are smaller.

It's really cool to see people getting their nerves wrecked at price fluctuations from 13 to 17 dollars. This puts things into perspective. The threads about people selling at 1.2K and feeling like geniuses after leaving forever will make them feel like idiots in less than a decade.

I will stick my neck out and say this user was right.  ;D
Coming back to the present - this might be the last change to get bitcoins for $3xx

I'm still HODLing. I'm not the sort of person that dumps easily ;)

because you have weak hands? or because you just don't care about holding coins for the longterm because you don't think it will go up.

I am not dumped, and i feel sorry that you got dumped.

Never dump. Unless you are on the toilet.  :P

That's weird but in an even weirder way true.

Altcoins > dump when needed
Bitcoin > Never take your loss, the price eventually will rise

Don't get into alts, unless you feel like gambling.
It is easy to get on the wrong side of a pump and dump, and lose all your money.
Better to go long on Bitcoin.  :)

No.

There are signs we will consolidate the 330's as the new floor. Unless you are dumping for a few bucks profit, it is not worth

I'm still holding.

Me too.


You're obviously doing quite well. I didn't get on board until it was $68. I'm jealous.  ;)

Hopefully you've bought many more coins since, but even if your average price has risen tenfold, you've still made a fortune on paper.

Hold like a boss.

Regarding the current price - I am still holding the far majority of my coins as I am here for the long run. This however doesn't mean I am not securing some profits every now and then. It allows me to obtain a bit fiat that I can use to increase the number of coins that I have in case the price goes down. I have been doing this since the very first moment I jumped into Bitcoin. It works well for me as there are enough corrections popping up from time to time.

How lucky they are who find out about bitcoin when the price still at $3xx or less (in the beginning) and have faith not to dump it easily.
Well, I think it pretty hard to holding such a long time because when the price rises is attempting to selloff your coins for profits, the trend keep continue until now. We're divide here, some holders and some sell when it rises.

At the time of OP, price fell from 15.40 to ~7.60 in a matter of hours. Pirateat40 defaulted on investors coins to the tune of 500k BTC which put the market into a panic.

Im still waiting and hoping that it can break the 800$ barrier before selling some of my btc.. 820$ is my first option in selling my bitcoin. Next year my target is 900$. And before 2017 ends,ATH IS REAL!!!

Yeah it would be great, if you hold the bitcoin for long years. Seriously in future Bitcoin would become most powerful stock in the world and price will also move to skyrocket. However will wait watch the upcoming price pump.

Damn OP, time to admit you fucked up big time. We had 450 dollars by the time you dumped, now we have 770 and growing.

You can take the lesson: If you dump, you will regret sooner or later. It's always better to buy and hold, never sell. No matter what happens, one does never sell. When you see a dip, you see an opportunity to buy more, that's all.

I did not do that, especially now approaching the end of the year. dumping now will only make us lose. Well, maybe I will hold in a long time. it might make some advantage for me, and I know the price of bitcoin will certainly grow in the near future. well, that was my main reason in this case

AHAHAHAHAAHAHA

LOL @ OP..... biggest loser in the planet

I dumped long time ago. I suggest you do the same.

Funny seeing this when bitcoins price is $700+ and still growing HAHAHA.

This just proves that bitcoin is worth keeping for a long term. Sorry for your lost OP, You had the opportunity in your front but you never grabbed it.

Even though you're lucky because you discovered bitcoin so early than me

Look at the date of OP and rethink your comment. I'm sure he bought back if he didn't leave forever.

Real traders keep trading no matter what.

I never bought btc or even had a lot, so never really experienced losses. I think now it wpould be very stupid to sell bitcoin but it is not the best time to buy them as well. Bitcoin is now around $760 and I think it can still drop down to $600 or so. We should just wait and so nobody will be dumped.

Lol this is some cool old bitcointalk right here! Ibdidnt even know that happened. I was way too caught up in other things and didn't know bitcoin existed at that point!


Make sense. He said he would buy more if he was wrong. Obviously he bought more and made a killing. Either that or he lost them all to a corrupted hard drive hahaha!

Hey u in ur highrise, peep out of the window. Tell me what u see. Isnt that an altcoin apocalypse flooding the footstep of ur rock?

What are u stoned right now? Dump ur bitcoin to improve the practice of ass-biting over the next 3 weeks, right after it resumes the bumping ride.

I will be honest with ya, I didnt sell a fraction of a bit of bitcoin and have no plans to. Not sure why are u in but those who are in for profit will understand me.

Hopefully he was smart enough to have multiple backups.

this time I do not plan to dumped of bitcoin I have, although I have done it several times. Well, until now I am still waiting for the price to be high bitcoin, after that I'll probably sell. but, for the moment, I better hold what I have