Bitcoin Forum

What is the bottom of this CRASH?


http://www.wired.com/2015/03/evolution-disappeared-bitcoin-scam-dark-web/

Ohh... Shit...

Lets hope it goes down to 250, and then bounce back up to 300$+.

I hope it will crash to 1 USD so i can buy 10 000 BTC

Don't get too excited. I would wait for a few hours to confirm on the trend. Even if it is really a crash, then I wouldn't mind slightly. Just go ahead and let's see how low it can go. I've already got my funds put on standby. And thanks to those people who decided to sell and allow me the chance to buy it so cheap.

All those druggies need to stop using BTC and teach people about BTC instead.

Drugs hurt BTC, but sadly also fuels it a bit..

@OP: So you already know it will be a crash? Do you have a crystal ball or what? Btw., what is your definition of crash? For the stock markets it is usually a correction of more than 20%, meaning in order to talk about crash we would have to see sub $230.

There should be some solid support around 225, but I dont know if that will be the end of it. Whale Benjamin sold 297 and is targeting 225 initially.

Oh cool...it can lead as low as 200$ if not less if the owner of the market will be stupid enought to dump the coins at one or in big piles and not over time.

In recent years, bitcoin was driven mostly by silkroad and other illegal sites, and was highly dependant on them to keep value,
today its more on a brighter side of the law, and news like another drug market collapse wont affect the price like they did before.
At time of the writing, price stopped dropping, and i believe it will stay that way, it was overrated news to begin with.

cheers

I'd like to vote for $268, but that doesn't seem to be available on the vote. I don't think it's going down much more. Just a healthy correction, really :)

It is deep enough, I think $268 is already the bottom, we needed a correction before, now that's it and it's the time to hit $300.

A slow rise right now would be the best thing to confirm the recent run-up. We needed this correction and may be much more stable on our continued way up from now on.

So $15 is now considered a CRASH in Bitcoin world?!!   ??? ???

What do we call the Goxxing in February 2014 when we touched $100 coin then?  The Bit-pocalypse!

http://calvinayre.com/wp-content/uploads/2014/02/bitcoin-mt-gox-collapse.jpg

Huh? In February we didn't really touch a $100 coin, man. The price only broke that low for a second on BTC-e or Finex due to a cascade, I guess... And on Gox because they were, well, running a fractional reserve and sold coins that didn't exist. But not the regular price on exchanges!

Words crash and moon should be banned on this forum. They are overrated and misused by most. Every correction is now a crash, every rise is to-da-moon. What is that? It seems like a blog of a emotionally unstable teenager.

Not sure what a cascade is, but if it's on the historical chart then it happened:

https://i.imgur.com/3q44nzQ.png

Yep in fact:
in gox times it was an big dump that cleaned all the buy books down to 100 and even touched the 100$ per coin, not only on gox...

yes that is true. If I remember correctly there were two or three trades at that level in the time-frame of few seconds and then the price immediately rebounded above $300. In all fairness you cannot compare that to staying on that level for days/weeks.

So these guys had multisig but didn't use it, and kept significant BTC in the hands of known card fraudsters... yeah, that sounds sensible.

3 days didn't check bitcoin price and already crashed :(
too bad i didn't have a time to sell it and buy at lower price like now
so i buy it more now, and wait for next increasing price
bad news like drug dealer used bitcoin for transaction will make crash and crash for bitcoin :(

I don't think it's over yet. That evolution drug scam site could cause a much bigger dent than what happened today. That would be 12,000,000 bucks; Enough to clear many buy walls. Then we have all these US Marshall sales and now Australia (I think it was Australia) selling off another 20k bitcoins. I see 150 as the bottom

And i see you as a little bit too mutch negative guy.
An bitcoin auction never drove the prices low and we had multiple in our history, the fall could be only done if the evolution admin would dump big ammount or all of the coins on market wich would be stupid as he could get tracked really easily then.
Howgh.

I think this has something to do with the crash....facebook to allow $$ xfer among your friends on facebook, etc

http://money.cnn.com/2015/03/17/technology/facebook-messenger-payments/


so everyone wants to use the blockchain to xfer money ..but no one who is in the process of making such (IBM etc) seems in any way to want it to be a 'decentralized' network ...they want to 'control' virtual currency as their main goal (apple pay as an example)

back to the old days again ...open internet or the closed internet like AOL wanted ...metered by use

same sh*t different decade....got to keep us 'minions' down in the 40/day work week mines don't ya know (who'd polish the Porsche?)

both news auction and a crash of a money-laundering place were important and made impact at the first time they appeared. Each and every consecutive news of that kind has relatively less impact, as people are not that 'shocked' any more. Also each day there are more and more fundamental reasons to keep the Bitcoin price afloat. Thus, the trend reversal we observe and relatively little drops on 'bad news'.
 

Downhill all the way from here  ::)

You have a point, but regarding the auctions: those Bitcoins were all sold off market. The guy behind that evolution thing can only sell it on the markets, unless he got some really good contacts. If the markets have to absorb tens of millions worth of Bitcoins this could indeed turn very ugly.

one part of me hopes it goes down more so I can buy more cheap Bitcoins  ;)

The problem is you will never be sure of when to go in... or when to get out.

I dont think price will go much lower than 250$ this time. We are just finding new floor and that is around 250 in my opinion. Soon we should have uptrend again.

It is funny how Evolution with its revolutionary system to prevent scams: "The site gained users’ trust by offering a feature known as “multi-signature transactions,” designed to prevent exactly the sort of bitcoin theft its administrators are now accused of. (That system, would require at least two out of three parties in a transaction—the buyer, the seller, and Evolution’s administrators—to sign off on a deal." Turned out to be scam. Thank you Evelution for shaking bitcoin price. But I think price downfall will be short. Price will drop to $250 max.

10-15% movemeents arent "crashes", just price swings.  BTC has shown you should expect this range of movemnt in any given day

It's going to probably test 230 over the next weeks... the good news are coming in non stop for sure, but we still need the common pleb to get their heads around BTC for a solid amount of money coming in.

not too much under 250 imho, we may touch sub 225 for a bit, but it will stay there

hard to say if it will drop there again.  I think if we do go that low, its gonna be for a fw hours at most