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Title: Interesting situation Post by: simplydt on April 11, 2013, 02:32:45 PM So the people who invested money they could lose at over $200, are definitely holding. This is going to create a bigger scarcity than before, as they won't sell up until bitcoin recovers its value. If you look at the asks vs bids graph now, there is plenty of bids but hardly any asks up to $160 http://bitcoincharts.com/markets/mtgoxUSD.html
I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts? PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama :D Title: Re: Interesting situation Post by: yokosan on April 11, 2013, 02:34:50 PM The price moves in the direction of average sentiment plus or minus a few high rollers.
In short: no, the price is going down for quite a while yet. Title: Re: Interesting situation Post by: ElectricMucus on April 11, 2013, 02:36:08 PM Too early to tell, but my gut says if might take a whole block reward reduction period for it to recover old highs.
Title: Re: Interesting situation Post by: BitcoinAshley on April 11, 2013, 03:14:43 PM Sorry, folks, but only in bizarro-world does a market with oodles of money flowing into it from every direction end up going down in value over the long term.
20,000 Gox accounts per day, 16000+ cue of $1000+ fiat deposits, and similar situation although on a smaller scale at all the other exchanges. Even Bitfloor was down for a little while yesterday due to volume. We'll recover from this one faster than all the other significant flash crashes. Just wait and see ;-) Title: Re: Interesting situation Post by: piramida on April 11, 2013, 03:18:22 PM 20,000 Gox accounts per day Sorry but this is a completely irrelevant number, like number of McDonalds burgers served per day. It would be a sign of strength if those 20k users were signing to an exchange, where you can trade dollars for bitcoins, but they are signing up to MtGox, where they can generate more lag together, and that's about it. Title: Re: Interesting situation Post by: Francesco on April 11, 2013, 03:33:33 PM Sorry, folks, but only in bizarro-world does a market with oodles of money flowing into it from every direction end up going down in value over the long term. 20,000 Gox accounts per day, 16000+ cue of $1000+ fiat deposits, and similar situation although on a smaller scale at all the other exchanges. Even Bitfloor was down for a little while yesterday due to volume. We'll recover from this one faster than all the other significant flash crashes. Just wait and see ;-) I hope so. But first we'll see how deep the hole of the white panic seller goes... Title: Re: Interesting situation Post by: Newscastix on April 11, 2013, 03:36:00 PM So the people who invested money they could lose at over $200, are definitely holding. This is going to create a bigger scarcity than before, as they won't sell up until bitcoin recovers its value. If you look at the asks vs bids graph now, there is plenty of bids but hardly any asks up to $160 http://bitcoincharts.com/markets/mtgoxUSD.html I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts? PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama :D I planned to hold a few years anyway.... Good time to get some more coins.. later... ;D Title: Re: Interesting situation Post by: zarl on April 11, 2013, 03:40:08 PM Many got in this show very cheap, under 15$ pr coin
im thinking ALOT cashing out $ will take place. Gox will go short of cash quickly, lol Title: Re: Interesting situation Post by: dancupid on April 11, 2013, 03:42:09 PM Everyone who dumped their bitcoins now has $ in their mt.gox account - they believed in bitcoin enough to invest in bitcoin in the first place and they will buy back again at some point.
If they made money, they will want to make more. If they lost money they will want to get their money back. Title: Re: Interesting situation Post by: ElectricMucus on April 11, 2013, 03:46:53 PM Everyone who dumped their bitcoins now has $ in their mt.gox account - they believed in bitcoin enough to invest in bitcoin in the first place and they will buy back again at some point. If they made money, they will want to make more. If they lost money they will want to get their money back. Actually at this point I am thinking about withdrawing all my funds. If the value drops too much I fear the exchanges might run with the money. Bitinstant disabling paypal withdrawl also speaks books. All this pointless market intervention actually makes things worse. Title: Re: Interesting situation Post by: Newscastix on April 11, 2013, 03:49:07 PM Many got in this show very cheap, under 15$ pr coin im thinking ALOT cashing out $ will take place. Gox will go short of cash quickly, lol How? if coins are sold they can only be bought by someone with cash balance... I can't buy coins without cash... Title: Re: Interesting situation Post by: Francesco on April 11, 2013, 04:02:54 PM So the people who invested money they could lose at over $200, are definitely holding. This is going to create a bigger scarcity than before, as they won't sell up until bitcoin recovers its value. If you look at the asks vs bids graph now, there is plenty of bids but hardly any asks up to $160 http://bitcoincharts.com/markets/mtgoxUSD.html I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts? PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama :D So the people more eager to buy did it even at 250 -or during the bull trap at 200-170. So now ther's scarcity of USD you could say... Well, however... I'd wait before calling ANY amount of coins "irrelevant" ;) Maybe not this time, but in a few years you could be glad you forgot a few bitcents in that wallet... Title: Re: Interesting situation Post by: Qoheleth on April 11, 2013, 04:39:16 PM So the people more eager to buy did it even at 250 -or during the bull trap at 200-170. So now ther's scarcity of USD you could say... There's scarcity of USD because everyone's USD is tied up in a frozen exchange where it takes 3-5 days to withdraw. (Compare to their bitcoins, which can easily be moved elsewhere to sell in 1-2 hours).The $64,000 question is whether people are withdrawing that money right now, or waiting to buy when Gox comes online again. Title: Re: Interesting situation Post by: desired_username on April 11, 2013, 04:44:45 PM https://dl.dropboxusercontent.com/u/8310142/btcc%20entral_orderbook.PNG
I have not seen anything like this before :) Title: Re: Interesting situation Post by: dancupid on April 11, 2013, 05:00:10 PM https://dl.dropboxusercontent.com/u/8310142/btcc%20entral_orderbook.PNG I have not seen anything like this before :) I've seen it - my wife in a bikini Title: Re: Interesting situation Post by: bitcon on April 11, 2013, 05:06:05 PM i have $12k on virwox right now. buying before nightfall.
Title: Re: Interesting situation Post by: essem on April 11, 2013, 05:27:56 PM So the people who invested money they could lose at over $200, are definitely holding. This is going to create a bigger scarcity than before, as they won't sell up until bitcoin recovers its value. If you look at the asks vs bids graph now, there is plenty of bids but hardly any asks up to $160 http://bitcoincharts.com/markets/mtgoxUSD.html I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts? PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama :D wishful thinking Title: Re: Interesting situation Post by: simplydt on April 11, 2013, 05:32:46 PM So the people who invested money they could lose at over $200, are definitely holding. This is going to create a bigger scarcity than before, as they won't sell up until bitcoin recovers its value. If you look at the asks vs bids graph now, there is plenty of bids but hardly any asks up to $160 http://bitcoincharts.com/markets/mtgoxUSD.html I think if these holders can hold their resolve for a few days chances are the price will go back up. Thoughts? PS.- I dont care if the price goes up or falls. I hold so little bitcoin its irrelevant, just fascinated by all the drama :D wishful thinking Care to elaborate? Cheers. |
