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Title: Dropping and still dropping? Post by: opentoe on April 15, 2013, 07:33:08 PM So, what's everyone's guess? It is $89 right now and this morning it was $92. Slowly dropping but how far do you think? Will it hit $50?
Some Avalon miners went from making approx $800/USD per day to $290/USD per day. That's quite a jump. By the time BFL ever does send anything out it will be strictly be just for a play time hobby and conversation piece. I wonder how long it will take before it creeps back up to $200 again, if it ever will. Title: Re: Dropping and still dropping? Post by: dandirk on April 15, 2013, 07:54:39 PM If everyone knew... then that would be the price right now:)
Many people are predicting that this crash is very similar to the one in 2011, that it will take a long while to finally bottom out. The last one looks like it took about 3 months to finally bottom out. Read some posts... some think single digits, others ~25-35... some in the 50-70s... I think you over-estimate the $ value of mining... Obviously rates depend on how many rigs you are running but $300 a day for a single $1200 unit is insanely high. Other ASIC offerings will bring those down to "normal" levels once difficulty... Crap if miners should be doubling their investment every 4 days, why trade bitcoin at all? Title: Re: Dropping and still dropping? Post by: gizmoh on April 15, 2013, 08:14:27 PM I have shorted and so are many wise traders.
The great frenzy run up has ended and the situation has reversed now. Bears are stronger and no massive income of newcomers gonna pour money into this despite what mtgox verification line would led one to believe. Title: Re: Dropping and still dropping? Post by: SlipperySlope on April 15, 2013, 08:27:38 PM The selling pressure today was relentless. I think 120 is gone. Maybe 105 is gone too. Next big bid wall is at 85.
Title: Re: Dropping and still dropping? Post by: mgio on April 15, 2013, 08:32:09 PM slowly dropping, this isn't a good sign. We are a little bit about 85 now.
I want another bubble so that I can sell at the peak next time. Oh well, lesson learned. Title: Re: Dropping and still dropping? Post by: BubbleBoy on April 15, 2013, 08:35:02 PM Where is a liquid shorting market ?
Title: Re: Dropping and still dropping? Post by: elux on April 15, 2013, 08:59:37 PM The selling pressure today was relentless. I think 120 is gone. Maybe 105 is gone too. Next big bid wall is at 85. https://i.imgur.com/9bA8bak.png Title: Re: Dropping and still dropping? Post by: superduh on April 15, 2013, 09:07:35 PM I have shorted and so are many wise traders. The great frenzy run up has ended and the situation has reversed now. Bears are stronger and no massive income of newcomers gonna pour money into this despite what mtgox verification line would led one to believe. yes, and how exactly does one "short"? Title: Re: Dropping and still dropping? Post by: evolve on April 15, 2013, 09:11:45 PM bitfinex or private loans.
Title: Re: Dropping and still dropping? Post by: gizmoh on April 15, 2013, 09:27:00 PM I have shorted and so are many wise traders. The great frenzy run up has ended and the situation has reversed now. Bears are stronger and no massive income of newcomers gonna pour money into this despite what mtgox verification line would led one to believe. yes, and how exactly does one "short"? On downtrend,You take a smaller loss by selling at lower price than purchased. Title: Re: Dropping and still dropping? Post by: sunblaster on April 15, 2013, 09:29:21 PM looks like a solid support level @ 81 ;D
Not Title: Re: Dropping and still dropping? Post by: P_Shep on April 15, 2013, 09:31:42 PM I have seriously got to stop setting buy orders.
Every time they are executed, the prices crash through that value and just carry on...! Title: Re: Dropping and still dropping? Post by: evolve on April 15, 2013, 09:50:20 PM On downtrend,You take a smaller loss by selling at lower price than purchased. That's not what shorting is. Quote Definition of 'Short Selling' http://www.investopedia.com/terms/s/shortselling.aspThe selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short. To short, you need to use a trading platform that allows margin trading, or you can do it through private loans and sales. Title: Re: Dropping and still dropping? Post by: superside on April 15, 2013, 09:51:25 PM No shit man. I feel like I'm chasing the bar right now but am always 1 step behind
Title: Re: Dropping and still dropping? Post by: dandirk on April 15, 2013, 10:49:50 PM I have seriously got to stop setting buy orders. lol I feel you... I got in (for speculation) at $200 for the first time... Got nervous at $240 and sold (not bad)... got antzy and did a few poor trades like a noob... I was swearing the same thing... "oh the market knows I bought.... down down you go.... oh the market knows I took a loss, now it goes up to my old "even" point... Feel like Homer S... "DOH"!.Every time they are executed, the prices crash through that value and just carry on...! All of this is noob experiences... I have been watching for a few days, learned a few indicators and hopping to get in 25-50 again... I probably will only do a market order, just in case indicators still say its going down... Maybe I will be a little less noob this time. Title: Re: Dropping and still dropping? Post by: bitcon on April 15, 2013, 10:54:50 PM slowly dropping, this isn't a good sign. We are a little bit about 85 now. I want another bubble so that I can sell at the peak next time. Oh well, lesson learned. how do you know a peak tho? i sold all my coins at $30 thinking the peak would be the same as last time. but i was wrong and it went up to $266. next time the peak could get too $500 or $1000 before crashing again.... Title: Re: Dropping and still dropping? Post by: gogxmagog on April 15, 2013, 11:01:53 PM It will normalize at around 10$. that is a good thing. it needs to be less volatile for merchants to adopt it, and it needs to hurt the short selling speculators and scare them away from being the lions share of the economy. after it hits 10$ look for the next rise in valuation around 2016 (providing there is merchant adoption. if you are in this to make a quick buck... GTFO
Title: Re: Dropping and still dropping? Post by: wopwop on April 15, 2013, 11:02:58 PM ..if you are in this to make a quick buck... GTFO thats 99.9%Title: Re: Dropping and still dropping? Post by: gogxmagog on April 15, 2013, 11:07:51 PM ..if you are in this to make a quick buck... GTFO thats 99.9%Title: Re: Dropping and still dropping? Post by: bitcon on April 15, 2013, 11:57:27 PM ..if you are in this to make a quick buck... GTFO thats 99.9%tell that to whoever made a killing this weekend pump and dumping at $266 |
