Bitcoin Forum

Looks like the next leg down has begun.

Yes. I introduced some friends that have years of trading experience and they had the same feeling on bitcoin. And while talking about this bitcoin thing they said "well, many stocks gone from $100 to $1 in matter of weeks, no need to panic. When stocks go really bottom, scavengers come and buy massively, reviving the stocks"

sounds legit. for now im also not willing to liquidate my short position on bitcoinica :) i speculate for more downside to come. 
depending on how far it goes down, im feeling very bullish then. longterm bullish.

I am very curious to see if it will go lower than 2.00. I'm pretty sure it will go lower than 2.04 but can't really tell if we can break the 1.xx psychological barrier.

i guess the drop will be bigger than the last one, leading us to 1.4-1.7

It's sometimes worthwhile buying up the stock of a company whose stock has tanked, to sell off the assets.

Bitcoin isn't a stock.  With Bitcoin, there are no assets to liquidate.

My vote is into the 1s.  I'm feeling.... $1.742394.  This is going to be fun to watch.

There is no need to feed GPU miners.
Right now we are able to secure the network at the cost of $0.35 per bitcoin:
Bitcoin should fall to $0.7.
GPU miners should stop to pollute the planet!

I would like to see a stock that has fallen 99% and then been bought and revived on a massive scale.  Government intervention because the CEO declared his business 'too big to fail' not included.

Wow, this is quite the bear party. A drop below 1 would be about 65% down again, that's quite heavy even for Bitcoin.

I like how the market is more liquid now, with short-selling and all that going on. And how there are many bull-bear hybrids now, who don't only argue one way. I'm not selling any now. It's less likely the trend stops right away, but if it does, there's quite a possible upside.

I don't really know whether I want it to go up or down right away. It's an immediate loss if it goes down, but then again, I do have some more money I'd spend on cheap coins.

Nope, the upside is minimal, I estimate it to be around 7 at the most. People would have to stop playing the greater fool game and start building an economy.

If this happens bitcoin would turn, not sooner, not later and under no other circumstances.

That's the true Bitcoiners, estimating a possible >130% rise and calling it a "minimal upside". ;D

I lol'd.

You're looking in the wrong place. Only relative value is indicated by exchange rates.

Facebook is a company that offers a service. The value of its assets is negligible compared to that service.

Bitcoin is also a service, but the service is provided by the existence of the network; the value is the system itself.

Awareness and adoption are the only barriers to an increase in exchange rate valuation.

Don't worry about Nagle he is either stuck in the 00s/ Not really who he claims he is and a troll.

There are irrational Bulls and irrational Bears, he's a great example of the latter kind.

It's going to take a lot to push down into the low 2's now; right now old_engineer seems to be getting his wish of hovering around the $3 mark. We went down earlier today, but now we seem to be trending back up.

Can you predict yesterday's weather too?

Yeah I watched it, someone was trying to buy up the price, once we hit 2.85, failed and we got a spike now. The 15 min RSI got to 60 when the initial buy-up occurred and that's where it is standing now, it could bounce off at 3 or gradually move down again from here.
In case it does overshoot, people have plenty of margins at this point... that's gonna be awful for the bulls...

Here's the prediction for tomorrow: Rates are going to go up. Unless they're going down. We can also see a combination of the two events, where it will stay stable.

i don't know why but i have a feeling that you will be wrong. this time for sure!

lol