Bitcoin Forum

Other => Beginners & Help => Topic started by: AndDuffy on January 27, 2012, 03:38:26 AM

Title: What's going on????
Post by: AndDuffy on January 27, 2012, 03:38:26 AM

Explain this to a relative newb. I'm not much of a techie, although I do understand a fair amount of economics and I know how bitcoin works.

What's up with the value of bitcoin dive bombing? Don't you think that bitcoins are too big at this point to entirely crash? Aren't they still projected to rise, as we're still pretty much in the beginning phases? I mean, we haven't even gotten near the first mining reward cut.

So anywho, give me your opinions on these questions.

Title: Re: What's going on????
Post by: payb.tc on January 27, 2012, 04:04:54 AM

it's dive bombing because the road to up is paved with bits of down.

Title: Re: What's going on????
Post by: deepceleron on January 27, 2012, 04:05:48 AM

Too high too fast:

http://bitcoincharts.com/charts/chart.png?width=700&m=mtgoxUSD&SubmitButton=Draw&r=90&i=Daily&c=1&s=2011-11-18&e=2012-01-28&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=1&i1=&i2=&i3=&i4=&v=0&cv=0&ps=0&l=0&p=0&

Title: Re: What's going on????
Post by: Oldminer on January 27, 2012, 04:08:31 AM

Nothing out of the ordinary. It's called market correction. ;)

Title: Re: What's going on????
Post by: EnergyVampire on January 28, 2012, 03:13:52 AM

Yes, I agree it looks like profit taking after a 100%+ increase. Looks like it might consolidate in the 4.75-5.25 USD range before this puppy goes to the moon! :D