Bitcoin Forum

We are facing a new pump and dump style Mt.Gox?

I am seriously concerned that this is the case, I mean $100 rise overnight??  All I know from watching btc price is that when price goes up fast, it can come down even faster.

What's so surprising about it? Don't you understand the marketcap on Bitcoin is tiny and it only takes a couple of concerned Chinese whales about their wealth storing some of their money on it + some wall street money from Gemini coming in as well to drive the price nuts? Undervalued assets can go up in no time. Of course there will be a correction but we will end up much higher than we are now.

If you are not buying more at these prices, does it even matter if it drops down sharply for a while? It will most likely not end up below previous stable levels around 220-240 anyway. No loss to be made from dumping imo.

Unless you are day trading type, but then the potential gains are also insane now.

Its gonna crash...

Or.. I think its gonna crash..

But yea.. Pump and dump.

Bitcoin liquidity is paper thin.

BTC price has now been proved that BTC may go up or down very quickly.

Sure it's gonna dump at some point when price is stabilizing, but it's not going to be anywhere near the prices it's been the majority of the year.
The one thing that makes me certain of that is the block reward halving next year. Imagine all hashpower that is going to the network currently, miners aren't going to be happy mining 50% less and still it's only worth the same, obviously the price is re-adjusting itself now already in preparation for the halving.

+ all other news this week are making the price surge faster than it has in a long time.

At one point, the price is crossed $ 500 and then fell sharply to $ 488 and then again slightly went up.,It some point it crashed to $ 466.Now is price
stable around 490$.Crazy ride up and down :)

What an exciting time it is

Having been in it from so early on, the feeling is electric, comparable to a life force

I have sold around half of my coin on rate of 464$ now. Just after this bitcoin price is going even down, it is around 447$ when i am posting this. I think it gonna crash a little bit to around 400 mark and than will again try to jump 500$ as last time it can't stay longer than few minutes above 500 mark.

it's back to $443 currently and i can't imagine in just a few hours the bitcoin price can drop more than $50

BTC price has dropped 100's of dollars in just a few hours in the past, so dropping $50 just now should be no surprise.  If you have followed btc price you should know fast runups usually lead to fast drops.