Bitcoin Forum

It's clear for me that there won't be any rebound to 620s or more, for at least few weeks if not even months.

2-months, daily candles graph:
https://i.imgur.com/4VmNfML.png

So, 400s here we come. SELL SELL SELL!

simple bear trap. Many people will thank you ;)

$574 on Bitstamp... And gets lower and lower

You will see maybe 530 and in 48 hours 650 again.

It think it will "rebound" soon enough. For now, I think the value will decrease even more. Maybe about $500.. After that, we'll rise again steadily.

I've heard there are some rumours right now that the FBI is going to sell the (many(!)) Bitcoins they seized from the owner(s) of Silkroad soon, which might cause this "crash", if you would like to call it a crash.

If that's true, once the Bitcoins are sold, I'm sure it will rise again. For now it's time to buy-in even more at a attractive time :)

but the sell of the fbi coins will drop the price to sub 100

I think that's a worst case scenario

LOL LOL LOL!

 ;D

What are you basing this off of? Honestly I think that is completely wrong. I think prices will rebound within a few days. If the price went down to $400 ish, this rise and fall would be a pattern that we haven't seen ever occur in bitcoin's history.

This was so sure that it will happen we've seen this a many times now. Price goes up to 650-700 and drops slowly back down to 400s. This must be the third time or so I think.

Indeed, a very very very worse scenario. According to http://bitcoinity.org/markets that might be possible, as it needs 22.33k Bitcoins to fulfill all the buyorders (right? Or am I looking wrong?').  I heard the FBI has over 29k BTC..    

However, I'm optimistic.

There will be a rebound eventually, but it remains to be seen how weak it will be.
Compared with the drops of early March (from a local peak of 710$) this happened on relatively lower volume.
It strengthens the case for the market still being in wave C.

Lol watch it shoot up past $620 right now.

Boing

Why would someone buy 3k BTC only to sell them on market?

Do you expect the auction to go for under market price?

cheap coins incoming, I am excited. I'd like some sub $100 please :D

Everyone is excited by cheap coins but nobody buys...

ok we had that already. if you sell 30k now, price will drop 50$ and rebound in a few minutes. Ridiculous.

I think you are jumping the gun in thinking that we won't be back at $620 in months...  that could take a matter of hours in a little price surge...

Anyone with the liquid funds and ability to bid on those 3,000 BTC blocks is not going to buy them just to dump them on the market.  If you have that much disposable cash, then more than likely you have more than half a brain, and you aren't going to be flushing your own money down the toilet.

There should be at least one month spent at $600

Some large investment firm is going to buy these coins and not for the purpose of selling them. I dont understand why the price is declining. Might be as i just woke up!

You guys have it all wrong. These coins are being auctioned off. They are not going to an exchange, so they will ONLY affect the market if the buyer turns around and dumps them all at an exchange after purchase.

So do you guys think the buyer will open an exchange with the coins or something (or someone like the winkleveii will buy it and add to their exchange?)

I personally think that it will go a lot lower than market price.
Don't quote me on that, though.

Why?

Nice trolling. Do you think the people are going to rush sell all they coins cause you said that?

the sale only legitimizes the coins

the coins are worth $400 today i agree to buy, not sell

We are now already seeing a pretty decent rebound from today's decline... We are almost back to $600

By law I think they have to auction them.

pathetic sell off, whoever sold will regret later

+1

There was a $620 rebound on Bitfinex several hours ago.
https://i.imgur.com/u6Y35a1.jpg

this !

Bitcoin lately has this way of 'playing possom' during a crash/decline and acting like there is no support to give you the feeling that there is going to be no rebound. Nobody shows their hand and the buyers just wait around until a few minutes after the sellers are finished dumping. Then someone caves and they all start rushing in and market buying. After seeing this happen enough times you learn not to be fooled and not to panic.

http://plant.daleysfruit.com.au/l/citrus-and-possums-6422.jpeg

Nice parallel. Not honey badger but a possum!

Honey-possum don't care.

Everybody *is* buying. Otherwise, I'd have my sub $100 coins.

Price is already 607 on stamp. It seems common sense that the US auctioning 30k coins privately won't have any meaningful effect on the price.

BUY BUY BUY BYU!

Get your cheap coins, we're going to 1k.

Let me guess. You are one of the same people earlier who said "SELL SELL SELL we're going to $400"?

I never sell unless I'm gonna buy later, nor I ever tell anyone to sell.

I'll bet you 1 BTC it does not go sub 100 this year.

doubt he has 0.1 btc even :) waiting for sub-100 prices.

Even if they buy them under market price, why the hell sell them?
I they buy them, they're into bitcoin. If they're into bitcoin, they know that holding will make them gain more with little risk.

Man...just think if those same investors bought 30k BTC on the open market instead...that would be a nice price rally...

Patience patience patience...

I was right.

Your childish self-praise is a little premature. You will be right if we move down into the 400s, and you will be proven wrong if we move above 620 in the next couple of weeks.

No one is going to be buying the FBI coins to sell them at market. That would be the most pointless exercise imaginable. There are tons of larger players that would love to get their hands on blocks of 3k bitcoin without messing with the general market price.

i see your point, but if the given price gets too low, dumping it will become a no-brainer.
after that, it would be easy to buy back in the same amount simply by picking up the panic seller's coins.
but there will definetly be a rebound, there allways is, it's just a matter of how significant it will be.

cheers

...how so? we haven't gone lower the 550, you predicted 400. 550 is closer to 620 than it is to 400, so you were dead wrong.

and there goes the rebound :D

So you were wrong. Better luck next time.

It's 620. Not exactly a rebound.

It went up to 640 earlier. It is a rebound for people waiting for good news.

Funny how self-absorbed people like wobber are incapable of admitting they were wrong even though it's clear from their own words.

Let's take a look at the wayback machine and see what you wrote in the first post of this thread, less than 20 days ago:


So actually, yes.  In your terms, you called 620 a rebound.  That's exactly what you called it.

You were wrong.

Ok, yea. Wrong. But no way 670s again.

we will see about that.
i give you 2 days  :D

OK i take the bet, but you pay now when BTC stil have some value.

Welp...see we already had the rebound that we needed to get us back to $620.   If we can stay there remains to be seen...

I don't understand the bet, you would like him to pay you the 1BTC in advance?

Next prediction please!

Wow, does this mean we're going to be seeing 670 again soon!? :P

Have we all found a new way to predict the price of btc? Just follow the opposite of whatever wobber says? Stay tuned and find out :)

If I didn't have anything to do I would start up a NOTwobber account and follow them round the forum, posting the opposite of their advice.  :-*

It doesn't mean anything if you just scratch 650-660s. If price stays that way for a week, now that's nice.

What I see the last 8 months is just up 2 days, down 10 days, sideways 20 days.

That's exactly what I have been saying.   Now if we can level off and stay here for a few days before going up again, that is good.   As exciting as it is, we don't want to rocket up, just to come crashing down

OP is short-sighted. That is all.

Eh, I have to give the OP this one.  If we use Stamp for reference, we fell below $620 on June 12th (when this thread was started), and only returned above $620 today.  He said "weeks", and it has been 6 weeks now.

So the OP was correct in his prediction.

dat math, im sorry  ;D

He predicted weeks to months.. the insinuation being that the price is heading south for some time. Now he is saying no way to the 660's again.

People predicting doom when the price is at 640 is great. The last thing we want to see as the bull markets tries to get some steam going is everyone agreeing the price is going up. We need buyers to propel this upwards, buyers like wobber :)

Oops, you're right.  For some reason I was thinking it was end of July already.  :P  ;D

Yea, I was wrong. But it will only last shortly. Soon, when price gets back to 580, I'll be right again.

If the price goes to 580, that will probably mean some really bad news related to the auction.
If that happens, we'll go lower than 580.

It wouldn't surprise me. I mean, if I was to wake up and see BTC = $40 tomorrow morning on all exchanges, I wouldn't be surprised. I have buy orders opened for a long time at 50 (about 100 BTC) because I believe someday we will go there.

even a broken watch is correct twice a day ..
this just prooves that u cant realy be certain about bitcoin in any way.
general pressure observing seams to be most precise.

Ok I was willing to give you some benes, but now with this comment you're clearly just trolling.  Keep dreaming.  ::)

Bitstamp needs a sell of about 6500 coins to get to 100s. Do you think that's a lot? Even if you multiply that by 5 (more exchanges), that's nothing. A few whales and that's all

I also have $7 bid open at MtGox, because I'm sure one day we will get there with as much probability.

HAHAHA, 1000 BTC sell wall on stamp at 650!!! SR COINS ARE BEING SOLD FOR PROFIT!

ftfy, you forgot an important part. Also, your facts are completely wrong and it's actually over 30K btc, but that I guess is a usual thing for you, to pull them out of your ass, so no surprise there.

People should first pass a small IQ test before being allowed to post here. Doesn't have to be a difficult test, I'm sure wobber won't pass any test even if you only ask him what his name is.

My IQ is pretty high, way above average. Was tested in a 10hour long battery test at a LEA.

Was your head actually in your ass when you took the IQ test?

Suckers.

https://i.imgur.com/p9A4hKk.jpg (http://imgur.com/p9A4hKk)

http://i664.photobucket.com/albums/vv10/JimboToronto/Trollbear.jpg (http://s664.photobucket.com/user/JimboToronto/media/Trollbear.jpg.html)

Wobber- hero trollbear.

_|_

I tough SR coins were 30k not 1000, anyway they bought them for 800, they wont sell them at loss.

Seems that the price doesn't want to go higher. Contrary to what people expect (a steady rise) I think a successful rally has to be consisted of rapid price increase like we saw last year. This is the only way buyers can flow in.

So far, I see nothing notable happening.

its been ONE. DAY. what is wrong with you? why would it be a rapid steady rise? were you even around last year? because thats NOT what happened. it goes up 10-15%, stops, pause, continue, rise pause bear trap, there where like 3-5 rises from 120s to 600s before the real shoot to 1000. pay more attention before you base your predictions on historical precedents that never happened.

Wobber lives in his own little fantasy land, just ignore him and let him be.

I think wobber is wrong a lot these days, but have to give credit where it's due - he's been around here for a long time - first post June 12/2010:

Says alot about intellectual ability of someone who is in bitcoin since 2010 and still resorts to trolling the forums as the only affordable form of entertainment.

Note that senior and even hero bitcointalk member accounts have been sold. Wobber today is not necessarily the same person who created the wobber account in 2010.

Onkel Paul

is that allowed?

FBI is already investigating!

Yes. Prohibiting it would not work anyway, and disabling accounts based on sell/buy suspicions would probably do more harm than good.
So if you need to rely on an account holder's identity, use another method of identity verification. PGP signatures are a good option.

Onkel Paul

I recently bought Shroomskits account.

And why you think that selling PGP signature is somehow harder than selling a forum account? :) You can't change it, true, but there might be more than one holders at any point in time.

You're right, any kind of identifying mechanism (except unforgeable physical features) can be sold, shared and/or stolen, this includes PGP keys.
But I would assume that people using PGP would think more than twice before selling/sharing their private keys. A forum account (especially one where you've lost interest in forum topics) can be given away much easier.

Onkel Paul