Bitcoin Forum

You're just waking up and looking at the market, what do you do?

There's likely a pretty big population of people invested in bitcoin that have no idea what happened today.

Do you freak out and sell, or do you look at the opportunity to cash in on some "cheap"er bitcoins than you fell asleep to? Or do you just hold on?

I know there was a "crash" earlier, what happened? Should we be expecting a secondary swing in the market shortly?

The second dro plready happened, testing the market, we are in the clear for now. I would pickup some more ASAP if you can.

The way these things usually work is - massive spike, big drop, another spike (sometimes higher than the first) steep declining trend to a level out at some kind of value the market feels comfortable with. Ive seen it loads of times.

It could be different for Bitcoin but I doubt it.

Seeing the crash was pretty surprising this morning.

I believe I will wait for a little longer before making that final decision to buy. Wait for the Americans to get online around 11PM NZT and see what happens.

I am thinking of dedicating some investments directly into LTC instead.

The next few days are going to be very interesting.

(I'm not a bitcoin investor just a newbie amateur who is just starting, although I've been watching bitcoin for a few months and I am economically semi-literate.)

From what I know and from what I'm hearing, there will be moderate bull trap, followed by a rough climb back up to ~250 and beyond. The popularity of Bitcoin has only recently begun rapidly increasing, demand outpacing supply, yada yada. People have been advertising Bitcoin's ideological and technological interests for a while now, but only recently have people been advertising the thousands of dollars they are making off of it.

So, I believe many "late"-comers will be keen on taking the advantage of a price drop and the price will begin climbing again. If I was making investment decisions for the long term (not day-trading, fuck that lol, I'm not even close to that stuff), I'd continue investing with guarded optimism.

Until I see some exploitable flaw with bitcoin's tech-side or some economic issue outside of bitcoin that negatively affects it directly, I see no reason not to cautiously invest if you are going long-term.

Once again, I'm taking my own opinions with a pinch of salt.

look throughout the past couple weeks this is a pattern that happens alot only a bit sped up this time i would bet, and have against many a person tht in the next 5 days bitcoin will return to ATLEAST 251

Where do you get your charts?

May I ask as to where you are getting your information from? I am quite interested in finding websites that discuss this sort of thing.

Would you be willing to share?

I know I am, too. scrypt gives the 'average' user a bit of protection against the oncoming ASIC invasion of SHA256.

--Rob

as long as gox queue is still long, btc shall rise

Check bitcoin.clarkmoody.com out for great charts! going ALLL the way back.

Yes well said....it is very common chart behavior.   I'm sure some people made big money selling/shorting near the top and buying the "dead cat bounce" and so on...nothing unusual at all after a bubble forms.

I've been bouncing back and forth between this site and reddit. Like I said, I'm in no way an expert nor do I have any insight whatsoever beyond heresay and speculation. The main personal insight I'm going by is that Bitcoin provides a specific, useful service that mainstream currencies do not provide and as popular as it has become, there is a vast user-base still waiting to be tapped. I think service-providing websites will become more user-friendly (demand side) in the next year or so, which will encourage bitcoin use. So, I'm just going to wait it out patiently. Maybe I'm wrong, but I'm not spending enough to be worried, just interested for technological and sociological reasons.

all these feels  :-[

Should be able to slowly go back up.

Bitcoin is supposed to be a currency not a store of value. Unless I missed something. It is actually quite useful so I disagree with some in the MSM who say it has no intrinsic value but it does fall down on a few points. I read (I think someone on here) saying that its intrinsic value is how useful it is in transactions. If it wasnt for BTC I would not be able to purchase certain items so to me, very useful.  However, the main thing for a currency to be is liquid and relatively stable. At the moment BTC is neither so is failing that test. Its not fair on vendors or buyers to be exposed to such great currency risk. All they want to do is sell a product for some profit and buyers to buy at a reasonable price. We do not want to be day traders of the currency which is effectively what is happening now. (And before anyone tells me if I only entirely used BTC this wouldnt be a problem ... well dont please.)

 

Benzo's helped me sleep  ;D

Damn I'd like to buy some BTC but no bloody way how to get dollars into BTC-E with mastercard or PayPal…

Bitcoin is like a speculative stock market share now.  Anything is possible, virtually impossible to safely predict.

Some people in other threads are saying use cash through Bitinstant...that seems better because it's anonymous too.   I may give this a shot, although I haven't tried them before.

BI accepts even less methods of payment than everything else…maybe in US it has some use with the cash options, but here, totaly useless.

Follow this method https://bitcointalk.org/index.php?topic=173966.0

The "crash" was just a panic. Once a legit exchange opens it's doors the speculative investors will come back in full force.

My gut instinct agrees, but it's very possible we'll see "depressed" (it's all relative, mind!) prices for a good while yet, which means a potentially excellent buying opportunity that some of us didn't think we'd see again so soon.

I happened to leave to a business meeting. Crash indeed...