Bitcoin Forum

will it crash down further or will it recover, since the price drop was only due to a manipulation?

Sadly, down...

Down to $1.5

New low!

Excitement is in the air!

The price drop was due to the anticipation of imminent further falls.
Demand is basically non existent.
Sellers are realizing that they need to get out now before it's too late.

The chances of recovery are slim, in the short term.

My guess is that the big manipualtor that was trying to keep the price higher, and succeeded in the short run pushing it back to $3.00 has given up after the ass pounding he took yesterday. He put about 100,000 bid coins bid walls all up at the same time, after his other bid walls caved in. He may have bought close to over 100,000 bitcoins yesterday alone.

He kept buying way too many to the point where it looks like he gave up.

It is about time, as if this moron had any intelligence what so ever, he would have pulled out long time ago. He does not see that he alone can not support the whole bitcoin economy, when 7000 new bitcoins are coming to the market every day.

It looks like that since his ass pounding was so bad, he doesn't want any more.

Expect it to keep falling without his support.

From what I can see it also seems like a coordinated effort to push the price lower and weed out this Ahole manipulator.

I dunno about this whole manipulator thing.  I hope no one takes it too seriously.  There ARE actual businesses (business, maybe) though they are few, that deal strictly with BTC and LOTS of it on a daily basis.

Below 1$

^ THIS

Fingers crossed.

Why? If I may ask?

Up and UP :)

Because at $10 bitcoin was overpriced. At $5 bitcoin was overpriced. At $3 bitcoin was overpriced. At $2.20 bitcoin is overpriced. At $1.80 bitcoin will be overpriced. At $1.25 bitcoin will be coming close. At $1 bitcoin has value.

-Jon

"...only due to manipulation"

Um...huh?

Based on what?  I say $1 it is WAY overpriced based on my totally and equally dubious value analysis.  I have determined that BTC is only supported by the fundamentals at $0.78.  Anyone buying at $1 is an idiot as they are exposing themselves to another quick 22% haircuit.  Everyone in the know, knows that the $1 pricepoint is for suckers.  The smart money is at $0.78.  I thought you were in the know?

- Not Jon

Who TF do you think sold the original amount that got the market in a panic?? He didn't lose money, everyone else did! And he still probably has around the same coins as before, but now has an additional $50k+ USD in his account.

I'll admit to being bullish at $1. I can see $0.50 as a possibility :)

-Me

Visit www.bitcoinica.com.  Play with it.  If you profit from it, you can remove the "novice" part of your handle.

Once again based on what?  What makes $1 a better magical entry point than $2?  Why not $0.10 or $0.01?  Admit it you simply picked a random number that sounds good to you and then pass it off as fact. 

Look at this. It's June all over again, just with "Bitcoin will fall forever" instead of "Bitcoin will rise forever".

Let me repeat this, what I already said back then: drawing lines on log charts as a forecast is usually not a good idea.

I get my facts from a superb online authority, better than any chart or technical analysis.

Good day, sir

-Jonathan

http://www.witchboard.com/online-witchboard/ (http://www.witchboard.com/online-witchboard/) (requires adobe shockwave required to run)

Yes, in retrospect, that was a poor choice of a user name.