Bitcoin Forum

We just crossed the 13.7$ barrier ...

Down to 13.1, up to 14.

This bear is very hungry for cheap coins.
We will re-test the low of $10.xx (very low $10, and maybe below), by tomorrow at the latest, IMO.*

*I could be wrong, but this one feels like the real thing...
Get ready to buy low!

the quick upswings are just a product of corrections and the 0 fee trading.  It oscillates about the market price for a few cycles, levels out and then decide what to do next.  

Personally, I'm bracing for impact.

The June 11th - 12th sell-off took over a day, it doesn't end until the panic climaxes.
Did you climax, yet?   :D

In a bull market price corrections can be dramatic drops, but conversely in a bear market - as perhaps the bitcoin bubble deflates - price drops can be slow with sharp upward corrections.  Do not expect an immediate fall back to April prices if in fact there is a bear market in bitcoins.

A little inference from past trends, charts, volume indicators and my gut tells me:

An early Tuesday rally, starting in the $11 - $12 range.

Thoughts?

I wouldn't put money on this either way atm but then I wouldn't write it off as a possibility either.

This market runs in both extremes:
$11 - $12 range is a good guess, but so is $6.50 to $7.75 (an old trading range)
Good luck finding your perfect bottom. 

Has fallen in 5 days from nearly $17 down to $13.  If it tanks anywhere below $12, it's to good of a buy to pass up.

I am looking at a Tuesday afternoon rally at latest.

I think it will break 13$, i'll be a buyer around 9$, the old resistance.

I found a support spot at $10.60 from 3 weeks ago. If it hits close to that, I am all in.

I just had a glance to the charts, its around 14.2 now.  I think this course is WAY to high! I expect it to drop to 13$ during the day.

Its @ $14.01 atm

Dropping to $13's in 3...2..1...

Ok were @ $13.91

next stop $13..

Best y'all get out now b4 y'all get raped...

just transferred a few extra quid into my exchange account. Sold at 17 Buy order set lets see If it goes as low as I hope.

I love the movement in the markets

why are people saying "zero fees"? I'm getting a fee every single transaction on mtgox...?

Some people got 2 months at 0% fee after the Mtgox crash

oh thats dirty!

Oooh nice big stop has showed up @ $13 & $12...

Just got some coin into my account...selling...

Getting nervous with it dropping like this still, was hoping after the fourth of july weekend, some trading and news would come back out to help bitcoin.  We could have missed the boat to make our 10000s of dollars at the 1 buck buy in and 30 bux sell point.  Now its just is there future in bitcoin as we hope that the coins we have now will go back up.  Makes me want to sell them all but I am going to hold on for a minute, sell at 10 bux, thats my nervous point there, get is much back as I can.

but what if you sell it at 10 then shoots up to 12 before you can rebuy it?

Then again if you think its going down to 10 might be smarter to sell now and buy back there.

I dunno...I'm kinda glad I'm fashionably late to the party...all this volatility would make my skin crawl if I had much more than my little sprinkling of bitcoins...I don't know how you guys remain sane watching it tank like this :(.

It would have been sweet to not be late though and buy at 1$ and sell at $30 like many did, that is what hurts me more, knowing I knew about it, but took me too long to figure it out and get money invested, so now Im sitting here watching it crumble, hoping there is a stop and increase very very soon. 

If you sell at 10 and it goes back up to 12, its worth taking that loss of 2 dollars to buy again then losing your 1000 by not selling at 10 each if they crash.

yeah true that, I guess you've got to consider the potential losses too.

Aye that rise and fall is going to put some distaste in a lot of speculators out there...would be a while before they come back.

There is an inherent worth in Bitcoins, beyond the speculation on the traded exchanges.

Like Silver and Gold have an inherent value beyond the paper traded on their commodity exchanges.

This is what I am going to invest in long, after MT Gox bottoms out.

SJ

Stewart,

the only thing Gold, Silver and BTC have in common is the TRUST you and other people assign to those objects and concepts!

(Yeh I know Gold can also be used as metal for creating things like jewlery... etc. But this is not the value that makes it "hot" and suitable as a currency! ;) )

I predict we are going to hit 12....any.....second....NOW!

Jul05 18:42:33 mtgox        5.0000 @    12.00       USD


Do I win internets?!?

the wind & waves of the sea stop for none. hang on for the ride.

lol, nice cheap BTC at MtGox, now

Someone has put in a bid order of well over 2200 coins for $12 each, and it is being filled pretty quickly. Next price is $11 90cents

Both concepts can be viewed as a currency, a precious commodity, an investment hedge, and for speculated day trading. And they both exist this way, far beyond trust.

Having physical silver/gold in possession and btc in a dat wallet does not require trust. It's a reality.

Sure, maybe a btc is really only worth $4 or $5 when all is said and done because of mining caveats.

But is a value that can be invested in, that has upside potential.

My 2 BTCs.

Folks,

As of 1:00pm MST, we are at $11.12 and falling.

Where is the rebound?

Are we going below $10 today? Already?

SJ

There are about 20k worth of coins in the bid orders down to and including the $10 ones (Mt Gox), so are there people out there willing to unload that many ?

If so, then say hello to single figure price :)

This is exciting :)

Looks like people are buying... price just shot up by $1

Hey Chucksta,

Where do you see this data for 20k bid orders? Is this on Mt Gox, or online graph somewhere?

Thanks,
Stew

I only just found it today... slack, I be

Select Trade Data, then select either Close Depth or Market Depth, then scroll the page down.

Thanks for the heads up on the data. I went in and took a look and found that table.

Are these Bid and Ask orders already filled, or are they orders waiting to be filled?

In any case, looks like lots of $10 bids, like you said.

Thanks in advance,
S.

They are all waiting to be filled.

Price is moving back up slowly.

At the point of writing this, there are 24032.8 (24032,8 for our friends on the European continent) Bitcoins in the buy orders down to and including the $10 orders.

MtGox - Now there are 27165.77 bitcoins in the buy orders, down to and including the $10 ones

Yeah I posted 30 of my coins for 12.4 dollars and they sold instantly in 20 seconds lol NOT GOOD PEOPLE, lets get this freaking price UPPPPP

Price now $14 (MtGox), and the $10 buy orders are off the page :)

Do you also see what I see, in the Asks, between $14 and $16 range ?

I was going to say something like that, but realized that 10 of those 20k were/are at exactly 10.00000BTC, and could potentially be a single order which could be cancelled when deemed appropriate.

Almost certainly would be if we went down that far, at least if what people have been saying on IRC about similar large orders at round-number prices disappearing yesterday before they were reached is true.

And now people are starting to realise the pattern of large round number orders being cancelled, look for odd numbered orders over 1000btc to start disappearing
.

And if such a pattern is recognised, the orders will probably be split into smaller ones +/- $0.05 from the target value.

Just my guess.

For several days now the course has been falling. At the moment it is around 13.100$.

So the question arises if we will reach at 12$ AGAIN?

I vote 'yes'.

i'd vote "no" if you mean short-term. support is strong enough and miners isn't very profitable to sell this price, they could simply wait a week-or-so and sell(if they want to sell now though) for higher prices..
all you could pray at is speculators :)

steelhunter,

in "a week or so" there will be 50.000 coins MORE in the market. In another week there will be over 100.000 coins more!

 If you estimate that 50% of those miners will slowly sell off thier coins in the hope of a quick buck, the trend will stay falling!!!

If this is true, with all the new coins being mined and slowly sold, are we not heading for $12 and below territory?


Thoughts anyone?

SJ

Going much lower, we have too many BTC for now, IMO.

It's not like there was a huge bid wall at $13. Yet it just won't go lower. WHEN WILL IT DROP?!?!? Come on, bears! Don't give up now! ;D

I think the market is washing out the mining mercineries.

my estimates it will be back to 0.01 USD for a year. before it hits up some thousand usd per btc.

No, $0.01 would be a death bed, last gasp of air price. A speculator could buy a million bitcoins for $10K. There are plenty of speculators with 10 grand, perhaps hundreds.

Who's going sell their stash of 1000 bitcoins for ten bucks? No way, jose. I predict virtually nobody would sell at $.01. You might as well just write if off as lost. Selling would be meaningless at that point, so why bother? Why not let it ride? Selling makes no sense.

I'd say a more realistic bottom is between $1 and $10.

I think I've seen this same post from you in three different threads. Please add something new to the conversation instead of just posting the same remark in multiple threads.

On topic, we received some pretty good news today in both CNN and Gizmodo that could end the downward trend. If it has an affect later in the week, we could see a bit of a rally, but in the short term, there doesn't look to be much resistance stopping us from hitting $12

He doesn't look happy.
http://www.livetradingnews.com/wp-content/uploads/merrill-lynch-bull-by-travis-s.jpg

why are they taking pictures of the bull's balls?

That means the three threads must be talking about the same thing.

Anyways, ... I think we will never see 31 USD ever again. will we ?

This looks like a bear to me! hehe

That's a bull. So is this: (The guy losing his shirt...well, he's a bear.)
http://www.deccanchronicle.com/sites/default/files/imagecache/node-gallery-display/1_121.jpg

I guess we reached  ;D

Intentionally replied to an old post.

Will we reach $12 / mbtc?

Haha, bears..

But also:

http://i40.tinypic.com/wsl7b9.jpg