Bitcoin Forum

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Reminds me of a song called "Bitcoin is a bubble" love listening to that one when Bitcoin is going through huge swings in either direction.

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Yea man and to think he warned most of the people on here way over a year ago with that song!
https://www.youtube.com/watch?v=A7TuFy0fcuw (https://www.youtube.com/watch?v=A7TuFy0fcuw)

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Ahh good to see your back now that BTC is down a few bucks. So how of this shit do we have the privilege to get from you this time? I would assume you would be just as happy when the price goes up right?

I've actually been posting the same "be careful" warning the last 3 days of advance we had....... Open your eyes! We poped to 450 after paypal news because the markets easily manipulated! The real whale that runs this price exchange is waiting for most of you to rush in saying "omfg cheap coins less than $400" After you rush in to pay that I am sure you'll get crushed. Bitcoin has been hitting lower highs for almost a year!! Everyone is cashing out except you guys! GLTA!

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Oh god yes. It's down over 400 points right now! Get out while you can bag holders! Wall street is collapsing!

Thanks for the warning man. I'm dumping my shitty fiat coupons for bitcoin. Real money!

>Wall st. down 2%--OMG collapsing!
>BTC down 2%--sideways trading, nothin' to see.

Yeah if only BTC had printing presses to make money to prop up the market.....

Lol, Gox did fine without them.  What makes you think the rest of the exchanges aren't doing same? :D

What makes you think they are?

Nothing, beyond the fact that they could, and would make some $ by doing it.  But maybe I'm just too cynical--they're probably not in this to make money.

They don't need to fractional reserve to make money. They actually just need to not fuck up like MK and it is a never ending cash cow. Add to that they know the orderbooks and fiat on exchange. That information is highly valuable. There are probably a few trading accounts on each exchange which never lose.

Plenty of exchanges got hacked as well and couldn't cover their losses. I'm sure we'll be seeing more of that in the future too.

Yea man and to think he warned most of the people on here way over a year ago with that song!
https://www.youtube.com/watch?v=A7TuFy0fcuw (https://www.youtube.com/watch?v=A7TuFy0fcuw)

you're either stupid or very stupid

that song is a parody and the maker of the song is definitely not a bear. Look at the end of the song..... he's clearly claiming bitcoin will reach $1 million or so.

370 is a reasonable target for the correction. I do not think it will go below that, but if it does that will be a major bearish signal.

It still looks very bullish to me.

Not looking bullish anymore, but not bearish either. Have to wait and see if it goes significantly below my correction target.

The range is getting smaller that's the problem, 377 to 399 is not looking good something is going to give! People are producing a lot of these everyday and they have expenses!!! If we don't stay above 400 soon any talk of the bottom will get thrown out the window, like when you guys called the bottom at 800... & 600... &...

Your short is looking doubtful now. Technicals suggest we retest 400. I hope you aren't over leveraged.

no shorts here, I only bought back a few coins before... I doubt we crack 399, when we get close I will let these go & wait for 360

I thought breaking the trendline, that goes from august the 10th to september the 14th, on october the 14th is a good sign. This trendline was broken a couple of days ago so i thought it might have found its bottom. Then it went down again. But it doesnt look like its really ready to go down. So i wonder what this is all about. You all think it will go down again soon? Even after it broke that big trendline? Im pretty sure a lot of people bought after they saw this so i think it matters for the development of price of bitcoin. Im only not sure how much it matters.

The overall trend really doesn't look up until after the 450-500 level... Weekends are always crazy swings with little volume! I plan to ditch my coins this weekend while the price is up and by back around 370 next week (probably Monday) Because we haven't stayed above 399 this is a very bearish sign... We lost the buying momentum for the month  :-X

The overall trend really doesn't look up until after the 450-500 level... Weekends are always crazy swings with little volume! I plan to ditch my coins this weekend while the price is up and by back around 370 next week (probably Monday) Because we haven't stayed above 399 this is a very bearish sign... We lost the buying momentum for the month  :-X

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Yeah, every time it goes up, people forget that the peak of the rise is lower than the last one.  People don't generally zoom out and look at the big picture.  We're declining overall.  It's just not a good year for bitcoin, and technically it's still overbought.  

The main issue is the miners that may be over leveraged because their operations were based on profit from higher priced bitcoins.  A lot of late-moving miners came in with big investments and haven't turned profits quick enough due to falling bitcoin prices.  To cover costs they need to convert to fiat, and hence the dumping is happening.  The lower it goes, the more miners will exit... unless transactional volume is high enough to support some of those miners.  It's a chicken and egg problem.  

I honestly think it's better for the price of bitcoin to fall as we improve transactional volume (increased number of merchants/retailers accepting bitcoin), because once that is in place, the rise in price will have a more sound foundation.  Drops in bitcoin won't necessarily cause miners to go out of business.  That's when the price will stabilize or at least move with reason rather than rumors.

We can still have a healthy rise, and possibly still go up to the $1000's because the ability to own bitcoins will also be more accessible at that point.  When I first heard about bitcoin, it took me a good week to figure out how to buy it, and a few days to wire the funds from my bank.  Most people I told about it took 1-2 weeks to get started and really understand it.  Even if they all exit now, when bitcoin gets hot again, you'll have a lot more buyers flooding the market.  Currently and in the past, it most people didn't even know how to buy bitcoins or what they were.  Still in the infancy stages.  So it's difficult to bring real buy pressure even when there is some good news these days, but as time passes and more people are capable of buying bitcoins, we'll have greater jumps, especially with the limited supply.

...people like fewcoins, aka falling, like to point out that every single person who could or would invest in bitcoin, is already fully invested. this is ridiculously false. like i said, 90% of the world doesn't even understand what it is yet.

But those who haven't heard of Bitcoin aren't potential investors.  Grandma hasn't heard of it--but she won't invest even if she did.  The "unbanked poor" of the world also aren't likely to.  The wealthy elite?  They all probably heard.  The penny-stock crowd?  All over it.  Major investment houses?  Of course.  The point is, the demographic likely to be both willing and able to sink heavy moolah into BTC knows.  The remaining 90% are irrelevant.

Reminds me of a song called "Bitcoin is a bubble" love listening to that one when Bitcoin is going through huge swings in either direction.

^
I didn't argue that the user base can't increase.  Only that those who are "likely to be both willing and able to sink heavy moolah into BTC" already know about it.  Nothing more.

LOOK OUT BELOW! How low will it go?! Nobody knowsss

So a pretty narrow argument then.

You agree the user base can rise by an order of magnitude easily from here. And you realise that currently the vast majority of investors (from a multi trillion dollar capital pool) do not have a tax efficient vehicle to obtain regulated exposure to btc yet.

Not sure why you are arguing that bitcoin is even remotely close to being saturated with investment demand, unless you are badly trolling, which you are. ;)

I'm not arguing that the Bitcoin market is saturated.  No more so than the Beanie Babies market is saturated.  Both can grow by several orders of magnitude.
Re. "[lacking]regulated exposure to btc":  Sure.  Exactly what makes "investing" in BTC a gamble.  Lack of regulations/legal recourse when the counterparty decides to own you.
Governments, banks, and payment processors all have an active interest in providing support/legal framework/jackbooted thugs for addressing fiat fraud. All these bodies benefit from reducing the risks of transacting in fiat.
To be fair, Bitcoin has maths and sciences to protect you from the likes of Bitconica, WeEx, Gox, NeoBee etc., etc.

http://rs651.pbsrc.com/albums/uu240/bengiyo/FightThePower.jpg~c200

...idiots like you
...your fucked up version of the world
...could you be dumber?
...i should ignore you.