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Title: We are testing the week low of 8,70 dollars soon Post by: fastandfurious on August 06, 2011, 01:30:34 PM Not many cents left now. Trading right now at 8,81 dollars at Mt.Gox.
http://bitcoin.clarkmoody.com/order-book/ Title: Re: We are testing the week low of 8,70 dollars soon Post by: proudhon on August 06, 2011, 01:33:50 PM Not many cents left now. Trading right now at 8,81 dollars at Mt.Gox. http://bitcoin.clarkmoody.com/order-book/ I'm going to go out on a limb here and guess that it won't hold... Title: Re: We are testing the week low of 8,70 dollars soon Post by: fastandfurious on August 06, 2011, 01:34:40 PM Not many cents left now. Trading right now at 8,81 dollars at Mt.Gox. http://bitcoin.clarkmoody.com/order-book/ I'm going to go out on a limb here and guess that it won't hold... +1 on that Title: Re: We are testing the week low of 8,70 dollars soon Post by: fastandfurious on August 06, 2011, 01:49:26 PM The support level is broken, under 8,70 now.
Title: Re: We are testing the week low of 8,70 dollars soon Post by: Bitcoin Swami on August 06, 2011, 01:49:41 PM I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value.
Title: Re: We are testing the week low of 8,70 dollars soon Post by: fastandfurious on August 06, 2011, 01:52:39 PM 8,24 now.
Title: Re: We are testing the week low of 8,70 dollars soon Post by: BTC Economist on August 06, 2011, 01:53:51 PM There is so much panic now I am sure even the most ardent BTC supporters are slowly liquidating at least a portion of their supply (but, of course, denying that they are doing so).
Title: Re: We are testing the week low of 8,70 dollars soon Post by: Piper67 on August 06, 2011, 01:56:48 PM There is so much panic now I am sure even the most ardent BTC supporters are slowly liquidating at least a portion of their supply (but, of course, denying that they are doing so). Heh... And I'm sure you're a government plant (but of course you'll deny that you are) :D For the benefit of everyone else, someone just dumped upwards of 11,000 BTC all at once a few hours ago. Most likely whoever hacked mybitcoin and/or bitomat. Teething pains. Title: Re: We are testing the week low of 8,70 dollars soon Post by: proudhon on August 06, 2011, 01:57:37 PM There is so much panic now I am sure even the most ardent BTC supporters are slowly liquidating at least a portion of their supply (but, of course, denying that they are doing so). Don't worry guys there's a giant less-than-1000 BTC wall holding the price oever $8. Title: Re: We are testing the week low of 8,70 dollars soon Post by: csshih on August 06, 2011, 01:59:31 PM 700btc left of that wall, and dropping.
Craig Title: Re: We are testing the week low of 8,70 dollars soon Post by: fastandfurious on August 06, 2011, 02:03:46 PM According to the order depth of clarkmoody it only takes 15602 BTC (sold at the market right now) to reach 1,16 dollars. I can see it if I use 1000 rows.
Can someone confirm this? Title: Re: We are testing the week low of 8,70 dollars soon Post by: BTC Economist on August 06, 2011, 02:07:51 PM Well we are under $8 now.
Title: Re: We are testing the week low of 8,70 dollars soon Post by: fastandfurious on August 06, 2011, 02:20:20 PM Another chance at selling at high 8 dollar numbers...
Title: Re: We are testing the week low of 8,70 dollars soon Post by: kiwiasian on August 06, 2011, 02:21:39 PM Well we are under $8 now. ...What in the world is in your "crash preparation kit"? Title: Re: We are testing the week low of 8,70 dollars soon Post by: shmadz on August 06, 2011, 02:23:00 PM Well we are under $8 now. ...What in the world is in your "crash preparation kit"? it's a cyanide pill, enjoy! Title: Re: We are testing the week low of 8,70 dollars soon Post by: proudhon on August 06, 2011, 02:34:53 PM Another chance at selling at high 8 dollar numbers... Haha, +1 Title: Re: We are testing the week low of 8,70 dollars soon Post by: Anduril on August 06, 2011, 03:17:20 PM $3 USD drop in 24 hours, looking at market depth there's nothing stopping slide down to $6 USD at the moment.
Nobody seems to be buying. Title: Re: We are testing the week low of 8,70 dollars soon Post by: proudhon on August 06, 2011, 03:54:27 PM $3 USD drop in 24 hours, looking at market depth there's nothing stopping slide down to $6 USD at the moment. Nobody seems to be buying. Yeah, we're still very top heavy and there are a lot of folks who got lots of coins for less than a dollar and selling even at $6 will still yield a ridiculous return on investment. Also, $6 is, I think, still profitable for a lot of miners. Title: Re: We are testing the week low of 8,70 dollars soon Post by: Anduril on August 06, 2011, 04:04:15 PM Yeah, we're still very top heavy and there are a lot of folks who got lots of coins for less than a dollar and selling even at $6 will still yield a ridiculous return on investment. Also, $6 is, I think, still profitable for a lot of miners. The market is in wild swing mode now, given the fact that relatively small transactions will affect price immediately. Looking at the data right now it is even possible that there will be a bounce up to 9.2, after which the price could slide back all the way to 7.7. This could go on all weekend. However, another big sale and price would go down to 6 easily. Title: Re: We are testing the week low of 8,70 dollars soon Post by: grod on August 06, 2011, 04:29:38 PM Looking at number of bitcoins being sent relative to the past few days I'm calling a trading range (again). The cost in power to cough up a BTC at $6 even for 'cheap' power, and I'm going out on a limb thinking 3/4 of the current mining power knows this and will elect to hold coins to the bitter end at the $8 price level -- at least for a few weeks. As always early adopters are a complete wild card and changes in their behavior overrides any technical analysis.
If we have a few weeks of $8 then another stairstep and trading range at $6 is definitely possible. As far as the exchange hacks -- those bitcoins add up to only a week or so of mining. Non-issue. Title: Re: We are testing the week low of 8,70 dollars soon Post by: S3052 on August 06, 2011, 04:35:41 PM I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value. The downturn was expected to happen, independently from hackers, etc. The chart was very clear to change trend DOWN after the break of the major trendline, which was running between 12.2-12.5. More downside is likely now, perhaps in a "wash-out" type of crash. The 8.7 low was expected to be only a minor temporary support. Title: Re: We are testing the week low of 8,70 dollars soon Post by: proudhon on August 06, 2011, 04:39:54 PM I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value. The downturn was expected to happen, independently from hackers, etc. The chart was very clear to change trend DOWN after the break of the major trendline, which was running between 12.2-12.5. More downside is likely now, perhaps in a "wash-out" type of crash. The 8.7 low was expected to be only a minor temporary support. What's a wash-out type crash? Sounds scary. Title: Re: We are testing the week low of 8,70 dollars soon Post by: Oldminer on August 06, 2011, 07:17:26 PM What's a wash-out type crash? Sounds scary. It's where Bitcoin gets 'washed' and loses its gold color for a silver color Title: Re: We are testing the week low of 8,70 dollars soon Post by: FlipPro on August 06, 2011, 07:18:14 PM What's a wash-out type crash? Sounds scary. It's where Bitcoin gets 'washed' and loses its gold color for a silver color Title: Re: We are testing the week low of 8,70 dollars soon Post by: grod on August 06, 2011, 07:22:33 PM Washout? Money laundering? The drug lords are getting back in? BUY BUY BUY!
Title: Re: We are testing the week low of 8,70 dollars soon Post by: S3052 on August 06, 2011, 07:53:35 PM I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value. The downturn was expected to happen, independently from hackers, etc. The chart was very clear to change trend DOWN after the break of the major trendline, which was running between 12.2-12.5. More downside is likely now, perhaps in a "wash-out" type of crash. The 8.7 low was expected to be only a minor temporary support. What's a wash-out type crash? Sounds scary. That means washing out weak traders hands. In more-easy-to-understand terms, this means: Bitcoin / USD can experience a wild spike down, and it is difficult to assess at what price level it turns. Could be 6$, 5$, 2$, 1$, or lower. Title: Re: We are testing the week low of 8,70 dollars soon Post by: David M on August 06, 2011, 09:52:24 PM $7.67 was my target with an outside bottom of $6.14
I am still trying to get funds into the exchange. Only had enough cash in the exchange to buy a few at 7.67 Title: Re: We are testing the week low of 8,70 dollars soon Post by: Piper67 on August 06, 2011, 09:53:52 PM $7.67 was my target with an outside bottom of $6.14 I am still trying to get funds into the exchange. Only had enough cash in the exchange to buy a few at 7.67 Love being in Toronto! Transferred money into Virtex in under an hour, on a Saturday! Title: Re: We are testing the week low of 8,70 dollars soon Post by: David M on August 06, 2011, 09:58:07 PM Love being in Toronto! Transferred money into Virtex in under an hour, on a Saturday! The price of living "Down Under".... We are bit slow down here... Must be because the money has to overcome the Coriolis effect. |