Bitcoin Forum

Are we going to see 200-300$ level again ? >:(

no lol never

okay breathe.....look at prices from  3 days ago...it couldve gone either way with us seeing past 900 today or the pricecorrection happening to where we are back to the high 400s....I'm seeing it flutter around 650-660 ish on gox for the past 30 min.  It was dropping fast before that.

The RSI at least is doing what it did in the last crashes: It got above 90 (94 this time) and now is getting down very fast (it is currently 72.9, but might go lower before the end of the day)

All last crashes (like this April, or the 32 crash) had the same behaviour in the RSI.

what a roller coaster. It makes me dizzy.
I wonder if it's a real volume or someone is just selling and buying like crazy from himself.

 

litecoin holding strong

I am glad to see the price go down, it will take less money to buy more coins and this is a good time to short bitcoin.

Please move this to the speculation forum. Bitcoin price rallies, drops and changes are not meant to be discussed here.

Pretty sure the moderators already know how to do their jobs.

I wish to see $200 again that would be a happy day !

Of course its coming   :D

If you keep an eye on stuff, it is very plausible to make some quick money.  Especially when the price went from $850 down to $500...craziness.

People are panic selling, and the price is going down, probably back to $140.

Sell now while your coins still have value, before other people do.

No it's not panic selling

https://i.imgur.com/8mmY3vJ.png

I'm holding, china is sleeping and its price is 5047 cny, which equals to 828 usd. I think the rally will continue to at least 1k. I'm hoping I'm right  ;D

*Whistles*

Huh? That looks like panic selling to me. "Linear" growth on the transaction volume (on the logarithmic scale, so not really linear, but you get what I mean) would indicate healthy growth to the bitcoin price, sure. Exponential growth, on the other hand, (again, on the log scale) means that people are running for the doors. This is otherwise known as panic selling.

Oh when I think of panic selling I think of traders seeing the price drop and then impulsively selling. Not whales moving around massive amounts of coins beforehand to do premeditated dumping.

So I'm not seeing why this is so bad. I mean, we're still above where we were before the Senate meeting, by like $150.

I:m surprised it dropped so far overnight, maybe China is losing some steam? After yesterday:s performance, I expect it will pick up again today, and we should be able to top $1,000. If it rolls right past $1,000 and up to the $1,500 range this week, I expect that a return to the $100-$200 range isn:t too far fetched. I think what some people new to wild west style markets like this don:t realize is that the higher you build a speculative bubble up, the farther it has to fall.

If we see it top up around $1000 this week and then stall, we may then legitimately have a new floor around the $300-$400 range.

I would be very surprised to see a drop to $300-400 after China's surge, the positive congressional hearings, and being the #1 Google Trends for yesterday.  While those trends are a lagging indicator of price, they are also a good indication of new interest which generally takes around a week before putting any fiat in.

Keep in mind that *new money* saw a high of $900, so even a price of $500-700 if it sustains here for a day or two would seem like a good deal (and I believe it would actually be a good deal)