Bitcoin Forum

Having a small heart attack. The price of BTC's just plummeted !!!!! I guess some big holders liquidated. A few new millionaires made today.

Uh, I just see this a perfect opportunity to get coins below $60.

Yeah it is but I'm in Australia. My BTC provider only allows cash deposits at the banks. Its almost 8pm here, banks are closed. Otherwise I woulda bought

Crash Really.. what is this DIGG! No title sensationalism ...
haha

It's been kinda emotional to see the roller coaster going that fast on his way down within few minutes. I hated that shit when I was a kid and now that's even worst with my money  >:(

hi all, just wanted to let you know about this site in stead of mt gox .....its a bit better than the laggy mtgox imo 8)

http://bitcoinity.org/markets?currency=USD&exchange=mtgox

Births are always painful. If anybody can't handle it, shouldn't have got pregnant. 8)

Oh yeah u right. Thx for sharing this excellent dashboard which is a way better to monitor Mt Gox as the data are displayed instantaneously.

I believe no need to panic, through saturday and sunday no new wire transfer comming it, thus not so many buys. It will start going up at Monday.

Then maybe you shouldn't have put your money into a volatile and speculative asset? Emotions have no place here. Personally, I love this shit. Sell at the top, buy back at the bottom: easiest money I ever made. Well, I guess holding gains are easier, but this is more fun. ;D

Yup u right. But since i've started to play around this, there were only few fast drops and i was away from my charts in the meantime. So I didn't even notice the shit happens. But this time was behind my computer and the drop was proportional to the peak of adrenaline. Let's say I paid for my first lesson of "How hard can i hold my butt" ;D

I hear ya :(

last time someone called a crash didn't it go up like 50% overnight  :D

OK, another total noob here who's lost a bit of money today (yeah yeah, laugh it up). Woke up today to see the prices plummeting at an alarming rate. Sold at $50, which turned out to be the lowest it got ::), bought back at $58. I know it was stupid of me, but I panicked :). It's no big deal, I only lost a couple of bucks, since I'm only trading very low volumes, just to see how it goes.

Out of curiosity though, does anyone know what the reason for today's temporary price drop was?

This kind of days make me realize how mentally hard is to be a trader of any currency or stocks..

Of couse not, you'll never know him.

Yes, I can certainly see that. The moment I sold my BTC at $50, the price jumped to $58 almost instantly, which was very frustrating to watch:

http://oi46.tinypic.com/2qk5ugk.jpg

I would probably have been banging my head against a wall if I had been trading thousands of dollars. :)

Hey I'm a noob in this.... I bought 300 BTC @ 47AUD, almost had a heart attack but hey I'm a noob and it was a sudden dip. All gravy. Like the stock market, just 1 day won't make much of a difference. Long term, things go up, things go down

Having a panic attack when the price goes down a bit indicates that you shouldn't keep money in *any* volatile asset.

Shame I couldn't fill up a little bit more this time. :S

LOL, that's not a crash.  That's a small, short dip in the exchange.  John is right, that was a buying opportunity.

It's definitely not a crash, just wait until after the weekend. Or sell and bring the price down so I can buy more. :)

Agreed mate - Can anyone introduce me to new BTC trading sites ? I always gotta do cash deposits at a bank ( pay 8 points on the deposit too ) .... I live in AUS. I cannot trade it real time when banks are closed.  I did panic slightly but woulda loved to purchase at 54AUD where it was at. THanks....

This is hardly a crash :)

It is not a crash. It is a bear spanking.

Btw. if you want an excellent example of "crash" or bubble - take a look at this:
https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1364057378088&chddm=140330&chls=IntervalBasedLine&q=NASDAQ:AAPL&ntsp=0&ei=Bd1NUdDrC6mrwAPllQE (https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1364057378088&chddm=140330&chls=IntervalBasedLine&q=NASDAQ:AAPL&ntsp=0&ei=Bd1NUdDrC6mrwAPllQE)

Any luck on localbitcoins.com?

Yeah.. if you really think earlier today was a "crash", then I suggest you get out of BTC immediately. Or just use them for currency and not as investment assets.

I am kinda hoping for little crash (to 30 USD/BTC or below), so I can buy cheap coins (I really screwed up when they were for 2 bucks each, I bought few at price about 8 usd/btc)

I remember the days when I'd stress about buying BTC @ $12.50, thinking "Damn, that's expensive." Who knows what I'll be saying in a few months time, having not bought any since $40...

I saw this as a great time to buy some discounted Bitcoin. I just spent all my spare money buying bitcoin a few days ago so I wasn't able to take advantage to get more today. As far as day trading, I tried it earlier this month when I thought it was at a temp peak but it didn't go back down as far as I hoped. The difference between my sell price and my re-buy price wasn't big enough to cover the service fees. I am still up overall in terms of how much I have invested and how much it is currently worth, but I would have made more money if I had just held onto it. Even though you can see the top 20 buy and sell orders pending on the exchange I use, it is still difficult to predict if there is going to be a valley big enough to justify selling and rebuying. However, it is a good idea to time your new buys. There are always these little dips every day that if you are patient enough you can take advantage of.

It's probably just an illegal trick traders use called a "wash trade"

You sell hard to flush people out of their positions and buy back once you reach a target price.

As this exchange in unregulated expect a lot of trader tricks as hedge funds move in.

Crash? This was the last chance to buy at 53! Right now it is back at 65  :D

Haven't really checked that....either way, that is US server, I am in AUS. By the time money xfers real time plus xfer fees not worth it. I'll look into this tho, I will go open CITIBANK account and open up a US version as well. Can xfer money real time with no fee's.

CHeers mate

Wish I was one of those "sellers" that made the price drop....there were a few millionaires made today or at least a few peeps that made a free car, free something ! MADE MONEY !!!!

I didn't think I'd ever get another chance to buy coins in the $60s, loving it.

I hope it "crashes" again. Sell everyone, sell! Bitcoins are worthless!!! The bubble is about to burst!! Sell!!!!!!!!!!!!

 ;D ;D ;D

I don't think it's right to call it free, they took risks in trading but it paid of in the end, lucky and smart I would say..

o man, there is nothing free. The risk of losing is so high i only put small amount of savings for "just in case" scenario. But feel free to put it all in if you feel gambling

"like"

I got in late - I got mine at 46AUD......but that crash I coulda bought heaps more at the same price.

There have been a few of these "crashes" over the last few weeks.  The only one that had any explanation that I'm aware of was the blockchain fork, and even that only lasted a few minutes.  The price seems to drop radically then rebound just as radically.  It IS a great buying opportunity, except that when volumes get high like that, mtgox gets so laggy I've found it's almost impossible to sell and buy back again at a lower price before all the fun is over.  You really need to set up some bids at lower prices in advance and then hope the price drops.

Hmmmmm..... I must a be a noob. I do not use mtgox to buy/sell. I am in Australia, we need more sellers/buyers here "real time"

I use www.bitinnovate.com.au they charge 8% commission...sucks ass

price if falling again......ah well banks open in 4 hours, hope I can buy some cheap coins !!!!!!! Everyone is selling, such a good time to buy now  >:(

WOW... And I thought 3% both ways from cavirtex in Canada was bad. Can't wait till more reputable exchanges start popping up.

Amen to that bro !

Wish I had some dope to smoke so I stay up.....banks open in 4 hrs to make a deposit. Mind you 4 hrs price will be back to normal. All of your North American peeps are trading now  :-\

Its going back up

hahah daymn, yeah up 4 USD since my last post. keep selling/panicking people so when the bank opens I can buy some more !!!!!!

I'm going insane from looking at the same chart all day every day LOL.

How does everyone else buy ? Can you buy/sell real time ?

This is a minor correction. If you're serious about bitcoins, save you're cash and wait patiently for a dip.

When it drops 10% or so, buy, and start saving again.

I am new to BTC - started a few weeks ago. Unfortunately in Australia we do not have many providers. I must go deposit cash in a bank and I pay 8% commission.....

8% isn't terrible. Traders have to cover their costs to stay in business.

Silver is trading at $28.8/oz and sold for $34.14/oz -about 15%

Yeah agreed - cost of living here in AUS is high, not like those good ol days when I was living in Montreal. Price of doing business I guess but I'd still LOVE to find a cheaper provider.

If you hold your coins you will make more money over the long haul.

GOt more of mine at 46AUD so up, hold on to them. Made money in a week, lost money in an hour....long haul !

315.5581 BTCs waiting to be cashed when the time is ripe  ;D

For somebody who has traded regularly in other markets, the thing that worries me most about the Bitcoin market today is that everyone in this forum is still so dang enthusiastic to just buy every dip. Makes me wonder whether another big shakeout is due in the near future so some real enduring pain is felt again. That could happen tomorrow, or it might not be till price spikes over $100. But it just feels it has to happen, and when it does, I suspect many of the convictions expressed in this forum will be severely tested. That's not a criticism of anyone here, it's just the way markets work. So expect the unexpected.

Yes, Kato! Bitcoin is a marathon not a sprint and I am sure most of people present are not equipped for marathon runs.

What bank has branches open on Sunday?

Having experience in other trading fields are somewhat useless here. BTC trading is quite different to forex for example.

Yes I know. It's different this time.  ;)

Or lose it all. Roll the dices

Long term graph looks like it's bubbling, start thinking about shorting...

Got lots of grey hairs because of this.

Its bubling beause lots of noobs panic buying.

I wonder what will happen when the hoards of noobs stops comming in ;D

Excuse me, where is the crash? I can't seem to find it, price right now is 68

BTC seems to be back and stronger than before!

You should have known $50 is a peak price. It will peak before it drops another $10 increment.

My thoughts exactly.

I cashed out on the way down and just failed to get a buy filled at 53.7 then watched it bounce back above my exit point :(

My own fault! I'm leaving a stash in another wallet long-term and using what I have on MtGox just to trade.

Which I do badly, mostly. But it's fun :P

Made me more money...I bought so cheap. As mentioned in prevous posts....some boss sold his btc and became a millionaire so it dropped. Impossible for everyone to worry when you can buy at so cheap LOL