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Title: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 01, 2013, 04:12:16 PM Anyone else think that 90 is a psychological barrier that people well start panic selling at?
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jaroslaw on July 01, 2013, 04:12:48 PM Anyone else think that 90 is a psychological barrier that people well start panic selling at? barrtier is at 50$ if it falls we are going back to 10$ Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 01, 2013, 04:16:10 PM 190 Bitcoins just moved the market by a dollar.
That's shallow. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 01, 2013, 04:16:34 PM Anyone else think that 90 is a psychological barrier that people well start panic selling at? barrtier is at 50$ if it falls we are going back to 10$ You think it'll be a steady sell-off to 50? Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Gabi on July 01, 2013, 04:25:07 PM Call me when it is at 10$, i'll buy then
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 04:27:07 PM Anyone else think that 90 is a psychological barrier that people well start panic selling at? barrtier is at 50$ if it falls we are going back to 10$ You think it'll be a steady sell-off to 50? Jarojaw is just being a troll bear. Very significant support in 190-192 region as the lower price in this triangle. lets see if we break that first. Take a deep breath man, I've just been buying all the way down. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Spekulatius on July 01, 2013, 04:27:59 PM 80$ USD is the next limit both from a resistance coming up from 30 and 50 USD as well as from high volume traded around that level in the past, see
https://ferroh.com/charts 180 days chart. But if 80 breaks reliably, yes, we are going down to the 50s ;) Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Spaceman_Spiff on July 01, 2013, 04:30:29 PM Anyone else think that 90 is a psychological barrier that people well start panic selling at? Yup Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Birdy on July 01, 2013, 04:32:30 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 04:35:49 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance :P Title: Re: If price goes below 90, there'll be a big sell-off? Post by: N12 on July 01, 2013, 04:38:01 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance :P Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Frozenlock on July 01, 2013, 04:39:15 PM I don't think you know what panic selling really is. There has been none so far. Meh, $266 -> $50 might have been. ;) Title: Re: If price goes below 90, there'll be a big sell-off? Post by: ft73 on July 01, 2013, 04:41:35 PM Meh, $266 -> $50 might have been. ;) Yes, hard to do worse, unless we go over $266 of course ;) Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 04:43:19 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance :P Maybe, maybe not. Losing over 5 percent of your value in 4 hours does have that underwear stained smell to it. Still, I'm up 6 BTC in those 4 hours so good times. BTC will recover eventually. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: amencon on July 01, 2013, 04:45:40 PM If I recall correctly the last time we fell below 90 it bottomed at ~87 and came back up from there pretty fast. However at that time we fell to it fast and Bounced back up, this time around it feels like a more protracted sustained drop.
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Rampion on July 01, 2013, 04:48:12 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance :P True. Last time panic sellers did their thing was on April, 16th. Oh boy, that week between April 10th and April 16th... There was some real panic selling going on, on Wed Apr 10th there was a $10 bid/ask spread, 3 hours in a row of blind market sells with +20 minutes lag... Since mid April I would say that we didn't have a single episode of panic selling. Some dumping, yeah, last week of of April we also had some nice red candles... But panic? Nowhere to be seen since months ago. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 04:51:18 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance :P True. Last time panic sellers did their thing was on April, 16th. Oh boy, that week between April 10th and April 16th... There was some real panic selling going on, on Wed Apr 10th there was a $10 bid/ask spread, 3 hours in a row of blind market sells with +20 minutes lag... Since mid April I would say that we didn't have a single episode of panic selling. Some dumping, yeah, last week of of April we also had some nice red candles... But panic? Nowhere to be seen since months ago. The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: N12 on July 01, 2013, 04:55:01 PM The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here. And what was this panic in 2011 caused by? The panic selling is caused by multiple weeks of parabolic price action. Any other factors like news or order delay only serve to quicken/deepen it. Human psychology is always the same.http://www.sierrachart.com/image.php?l=137269760966.png That's right. Price action causes price action. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Rampion on July 01, 2013, 04:56:44 PM I've just been buying all the way down. Buying all the way down in increasing size (and selling all the way up) is a good strategy, you need to have some money for that though. ^^Panic selling and hoping you can buy more coins at the bottom is not, that is more like gambling. Well my strategy has been, sell 50% of my BTC yesterday as I saw this coming and then buy up BTC all the way down on this panic sell. I'm almost totally back in again and look, the price is rising. Not all my efforts but glad to be of assistance :P True. Last time panic sellers did their thing was on April, 16th. Oh boy, that week between April 10th and April 16th... There was some real panic selling going on, on Wed Apr 10th there was a $10 bid/ask spread, 3 hours in a row of blind market sells with +20 minutes lag... Since mid April I would say that we didn't have a single episode of panic selling. Some dumping, yeah, last week of of April we also had some nice red candles... But panic? Nowhere to be seen since months ago. The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here. Never bought that crap. The blind panic was caused by the price rapidly crashing, let's be honest... Were you scared by the lag or by Gox's page going up & down? Seriously? No you weren't, admit it, because nobody was. Another concrete example: a couple of days ago Gox stopped working for hours. Did you see any panic when it came online again? I'm sure that DDoS crap causing panic is BS, and in fact IMO Gox going down because of DDOS/lag on April 10th actually slowed the crash, as people couldn't connect and market sell, the page just didn't work... And then Gox did its magic "market cooldown", just to try to stop the crash. I was actively trading that day, I will never buy that fairy-tale story about DDoS that trigger crashes. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: N12 on July 01, 2013, 04:57:56 PM DDoS stood for "Distributed Denial of Selloffs". :D
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 05:00:09 PM The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here. And what was this panic in 2011 caused by? The panic selling is caused by multiple weeks of parabolic price action. Any other factors like news or order delay only serve to quicken/deepen it. Human psychology is always the same.****Image omitted***** That's right. Price action causes price action. Of course but on our timeline, we have already weathered this level of trading? In the last few weeks, low value has promoted a very stable price. Where would you say we are on your little chart, 10/11/11? The drop before taking off again? Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Rampion on July 01, 2013, 05:00:21 PM The blind panic was specifically caused by the DDOS in that case. Thankfully MTGox servers are coping with this small sell off today. There is no blind bids here. And what was this panic in 2011 caused by? The panic selling is caused by multiple weeks of parabolic price action. Any other factors like news or order delay only serve to quicken/deepen it. Human psychology is always the same.That's right. Price action causes price action. Exactly. People see it growing SO FAST and their profits increasing SO MUCH that they start fearing a deep crash as quick as fast was the growth. As you say, its just human psychology at work. Panic sells are basically triggered by the price going down fast, which in first instance can be triggered by some news (like the chain fork), but 99% of the times is just triggered by the dump of someone taking profits - no more, no less. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 01, 2013, 05:04:03 PM It would be great if we could say for certain that these things are what caused price changes with hindsight but even with hindsight it's not so easy to tell.
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: N12 on July 01, 2013, 05:10:03 PM My guess is that we are in July or August 2011. Back in 2011, going from 32 to 10 was a huge panic sell, that was the bubble burst, which is equivalent to 266 to 50. The final panic selling that resulted in the $2 bottom happened 6 months later. That's the end of the bubble which inverts and people undervalue Bitcoin.
You can make the case for 50 being the new 2 of course. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: BitChick on July 01, 2013, 05:14:26 PM I think that people have already panic sold, or have been selling off some as the price has not moved. Even my husband has been tempted to just walk away at this point thinking BTC is not going anywhere. He has not done that yet, thankfully. I think that in spite of the fact BTC is not doing much, and has even declined, we are on the brink of some movement up again at any point. The big question that all of us do not know is when that will be! It could be today for all I know, or a few months down the road. There are some things in the works that can only stimulate it further though, with all the VCs pouring money in and the development of better services. It is just a matter of time and patience. Granted, there will be more ups and downs along the way. Those that are able can profit from that for sure. I just don't trust myself to be able to ride the waves as well as some of you seem to.
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 05:17:03 PM I think that people have already panic sold, or have been selling off some as the price has not moved. Even my husband has been tempted to just walk away at this point thinking BTC is not going anywhere. He has not done that yet, thankfully. I think that in spite of the fact BTC is not doing much, and has even declined, we are on the brink of some movement up again at any point. The big question that all of us do not know is when that will be! It could be today for all I know, or a few months down the road. There are some things in the works that can only stimulate it further though, with all the VCs pouring money in and the development of better services. It is just a matter of time and patience. Granted, there will be more ups and downs along the way. Those that are able can profit from that for sure. I just don't trust myself to be able to ride the waves as well as some of you seem to. I have been awake for the last 18 hours, drinking heavily. Made 6 BTC so far. Hard to say if it was worth it really but i'm on a good buzz from 3am to midday so far. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Spaceman_Spiff on July 01, 2013, 06:11:44 PM My guess is that we are in July or August 2011. Back in 2011, going from 32 to 10 was a huge panic sell, that was the bubble burst, which is equivalent to 266 to 50. The final panic selling that resulted in the $2 bottom happened 6 months later. That's the end of the bubble which inverts and people undervalue Bitcoin. You can make the case for 50 being the new 2 of course. My guess is that the decline will take longer than 6 months this time. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: BitChick on July 01, 2013, 06:19:09 PM I think that people have already panic sold, or have been selling off some as the price has not moved. Even my husband has been tempted to just walk away at this point thinking BTC is not going anywhere. He has not done that yet, thankfully. I think that in spite of the fact BTC is not doing much, and has even declined, we are on the brink of some movement up again at any point. The big question that all of us do not know is when that will be! It could be today for all I know, or a few months down the road. There are some things in the works that can only stimulate it further though, with all the VCs pouring money in and the development of better services. It is just a matter of time and patience. Granted, there will be more ups and downs along the way. Those that are able can profit from that for sure. I just don't trust myself to be able to ride the waves as well as some of you seem to. I have been awake for the last 18 hours, drinking heavily. Made 6 BTC so far. Hard to say if it was worth it really but i'm on a good buzz from 3am to midday so far. Maybe that is my problem. I need to drink more to be good at day trading. ;) Some of you are very talented. Wish I had the guts to do it but it stressed me out. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Spekulatius on July 01, 2013, 06:20:40 PM 80$ here we come!
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: zackclark70 on July 01, 2013, 06:21:24 PM its alredy been at 88 lol
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jaroslaw on July 01, 2013, 06:24:21 PM 70`s we are comming, i mean im comming :D
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: True___Blue on July 01, 2013, 06:30:34 PM We are really testing the resistance at 90 right now...
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jaroslaw on July 01, 2013, 07:12:40 PM We are really testing the resistance at 90 right now... theres no resistance till 88$ Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 01, 2013, 11:22:33 PM 86 here we come!
Plenty of resistance just above 86. Looks like some panicking is going on. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: zackclark70 on July 01, 2013, 11:26:50 PM well its at 75
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: zackclark70 on July 01, 2013, 11:36:15 PM I was on btc-e I have not looked on gox
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 11:38:55 PM I was on btc-e I have not looked on gox It's fine Btc-e at 80ish along with the other small exhanges. Normal. Still patiently watching for the right time to buy in, there is a lot of resistance at this point. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: zackclark70 on July 01, 2013, 11:40:53 PM btc-e right now
Last Price: 80.97 USD Low: 75.566 USD High: 91.9739 USD Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 01, 2013, 11:45:30 PM btc-e right now Last Price: 80.97 USD Low: 75.566 USD High: 91.9739 USD See? Normal, nothing to worry about. We are overdue a sucker rally right now anyway. Stay tuned. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Pajamaw on July 01, 2013, 11:50:55 PM You can probably wait to buy in for quite a while.
As long as Bitcoin remains as speculative as it is at the moment, the price will remain fluctuating but on a downward trend. Google trends estimated that btc was worth about $35 without the speculative bullshit that's feeding all of our wildest hopes and desires to sell off our 1.02 btc for thousands. I'm thinking we're going to keep heading for that bullseye until another PR stunt is pulled off and people get a renewed interest that spikes us back to those triple digits. That is assuming that btc on a whole remains for the most part a commodity and not an actual currency. but if ebay, paypal, and dwolla take their prodigal son back than that later assumption goes in the trash and then step 4 people...PROFITTTTT :D Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 02, 2013, 02:24:52 AM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier.
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Agricola on July 02, 2013, 06:19:52 PM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. My thoughts exactly. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Spaceman_Spiff on July 02, 2013, 06:26:48 PM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. I wouldn't conclude that yet. Give it 2-3 days. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 03, 2013, 12:31:36 AM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. I wouldn't conclude that yet. Give it 2-3 days. Looks pretty stable at 90 just now. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Jozzaboy on July 03, 2013, 12:53:43 AM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. I wouldn't conclude that yet. Give it 2-3 days. Looks pretty stable at 90 just now. Indeed, bitstamp catching up to MTGox and the amount of coins it would take to drop us to 80 would put us at 107$ BTC price. Market depth indication: Bullish. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: derpinheimer on July 03, 2013, 02:08:08 AM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. I wouldn't conclude that yet. Give it 2-3 days. Looks pretty stable at 90 just now. Indeed, bitstamp catching up to MTGox and the amount of coins it would take to drop us to 80 would put us at 107$ BTC price. Market depth indication: Bullish. True, but lately market depth hasnt meant much. Most sellers are big players without ask walls. Most buys are in the bids. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: freedomno1 on July 03, 2013, 02:09:21 AM Well building up total bitcoins lets it ride 8)
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 03, 2013, 09:22:44 AM Seems to me that the long downward slide as predicted by others is happening.
There are momentary highs and lows but overall it looks like a repeat of the previous crash. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Crypt_Current on July 03, 2013, 09:27:31 AM hovering around 69 EUR ;) ;D
Title: Re: If price goes below 90, there'll be a big sell-off? Post by: d5000 on July 03, 2013, 10:12:40 AM My guess:
- 40 % chance that it will drop to 80 and then recover. - 40 % chance that it will drop even lower. - 20 % chance that 86 was the bottom. Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Spaceman_Spiff on July 03, 2013, 05:12:18 PM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. I wouldn't conclude that yet. Give it 2-3 days. Looks pretty stable at 90 just now. Told ya ;) Title: Re: If price goes below 90, there'll be a big sell-off? Post by: Inedible on July 04, 2013, 03:40:14 AM Seems as if price is recovering now - I guess 90 isn't a great psychological barrier. I wouldn't conclude that yet. Give it 2-3 days. Looks pretty stable at 90 just now. Told ya ;) Nice call ;) Title: Re: If price goes below 90, there'll be a big sell-off? Post by: derpinheimer on July 04, 2013, 03:42:42 AM My guess: - 40 % chance that it will drop to 80 and then recover. - 40 % chance that it will drop even lower. - 20 % chance that 86 was the bottom. That's like me saying 20% chance we go up tomorrow 40% we go down 40% we go down and then up Kind of a pointless prediction. I have almost all bases covered. |
