Bitcoin Forum

On the one hand a tumultuous rush for the exit seems inevitable, on the other alternative exchanges are gaining market share as fast as their servers can process new accounts and seem to have stabilized at a consensus valuation around $90/BTC.

I am starting to doubt that the great buying opportunity will even present itself.

8 hours and counting

bitstamp 76
campbx 89
bct-e 86
bitfloor 92
virtex 115
btc24 65euro

everyone will be buying because everyone thinks everyone is selling

omgwtfbbq.

That is what will happen.

i hope price will be low because i have to buy coins to get my money from gox and say goodbye to them. I think many people will do it also.

I never thought we'd see sub-$100 again this soon.  And I doubt I'm the only one waiting to buy.

you are really cute when you are greedy :)

I have sold everything at 197EUR and I am very lucky and had no clue the market would crash 2 hours after. I am still not buying back in, just because anything can happen right now. It could peak to 200 again, yes, but it wont stay there for more than a few minutes. People are scared, too much money in it, too many people have lost tens of thousands of dollars. They want their profit. So a higher price will make it bearable for them to get out with a smaller loss than to go down with bitcoin. I am afraid this will take some time to recover.

The order book looks bullish. I think when trading resumes the price is going to recover quickly.

I'd say:

1. quick selloff to whatever value the other exchanges will have stabilized at (consensus seems to be around 85$)
2. panic to below 50$
3. multiple price swings till a new equilibrium is found (likely to be not much below pre-Gox-reopen consensus)

If you're good at calling highs and lows, you'll profit from the swings.
Only a few hours to go.
Be ready for a hell of a ride.

Also Gox taking no fees for 48 hours means you'll be tempted to leave the fiat there at least during that time.

I agree.  Last night I thought $50 was a value but, after today I think we will be under $50 tomorrow if Mt. Gox can stay online.

I think a lot of panic sell already happened at the other exchanges - look at the timelines, most got a huge drop and very high volume in the hour after gox closed.
The fiat however is still there.. I don't think it will go below 100.

damn right

I can sense you are professional

I'd wish - would have sold some at 200+ as instinct told me (was overruled by greed :) )

It's my contention that anyone desperate to sell has already sold by transferring their BTC to an exchange that's still in operation.

Whereas, buying depends on already having fiat in non-Gox exchanges.

I personally think it will settle at around $35/BTC. FUNDAMENTALS as you speculators call it :D

Who's using BTC at the moment to buy anything? How many noobs are gonna quit BTC after they wanted to make a quick buck, and all of a sudden there was no happy ending?

I think there will be a sell off, because too many are fearfull!

Many coins will change their owner for sure, but the winner will be known after some years. Believe it!

how about this:

People might be selling at other exchanges right now because they all expect a sharp knife to happen. So they need fiat to get a chance to buy more coins close to the bottom.

You know how it ends when too many people expect something to happen?  ;D

Hey guys, stop dreaming, there won't be a stable price on the other exchanges until Gox comes back: price will keep going down until trade is reopened at Gox because it's very difficult to quickly pour in significant amounts of fiat in an exchange, and most of fiat sits at Gox, while its very easy to move coins from Gox to other exchanges.

I'd say that we will se $40/$45 before Gox opens.

how many hours to gox open.
Im confused about it ?

Mt.Gox drives the price of BTC. The other exchanges are just lost lamb without Gox guiding them.
I think A LOT of people are looking to buy, especially ALL those people that sold at $150-$250 and they are looking to get back in the game!
The money is NOT out of the system, the money remains in Gox for the most part!
I think we:ll see $150 pretty soon.
I think $150 for a while is a great number to be at.

Market dropped to $105 yesterday, and those that wanted to sell have probably sold already.

Last night PST on the Gox order book, there was a 35k btc bidwall at $75 flashed.  Someone smart has a few million in fiat available, and I seriously doubt the price drops below $50.

As we've seen over the years, stable price = increasing market acceptance = increasing value.  As soon as the floor is established, lots of players that are standing on the sidelines will all want to get in the game, and the price will zoom up again.  Rinse, repeat.

T minus 6 hours and counting

consensus price in the mid 60s

How vast do you think the lag and jump will be as soon as it opens? :P

Don't know what it will do but it should be around $50 based on electrical costs and difficulty.  I'll wait until next month.

Lol, probably be another bull trap after Gox opens.

The real sell off begins when gox reopens, that is if their shit trading engine can handle all the trades

I pissed at the timing. It will be 1am here - some of us have to sleep/work tomorrow.

I get the feeling I'll have missed the sell off or rally by the time I get up.  >:(

Can you not go to bed now and wake up for 5 minutes as the exchange opens?
Or take some good ol' fashion caffeine.

Where are all the people who will panic sell? Like everyone is just waiting for the cheap btcs.

I'm going to panic sell like a bitch.

This.
Although - how many right now do have fiat cash in Gox at all?

its so easy to manipulate other exchange. I did it successfully and bought some coins at 55-65.

This is why its very hard to get rid of MtGox.

Me. I'm like 3:5 BTC:Fiat

I was gonna panic sell but I've since changed and I'm gonna panic buy. Wish I had more dollars on gox right now though.

Me, 2,7k dollars all in.

There is more to life than Bitcoins. Not sure the wife would appreciate it either! ;)

Anyway, I look forward to catching up on all the post re-opening hysteria that will no doubt be plastered across these boards. :)

Now we know that we SHOULD learn to cope without it.

T minus 2 hours 30 minutes

consensus price trending up into the low 90s

this is getting rather interesting

Almost one hundred at bitfloor.

T minus one hour 30 minutes

prices diverging somewhat on the exchanges 75-90

Will the market open up at $124.90?

somehow I rather doubt that, I mean, maybe "open", but regardless of whatever they may have done to improve their clearing rate, their servers are going to be epically hammered at 02:00

I expect massive opening lag and a dump with some degree of overshoot, however, the other exchanges have held up surprisingly well all afternoon, a new equilibrium will be found.

I'd be surprised if we didn't get to 150 right after. So many people pulled coin off gox.

One hour people...one hour

consensus in the high 70s



everyone have their fiat ready?

I have my bitcoin ready.

So, we are speculating about what will happen to the price after the opening of the exchange that triggered the drop in the first place?

The fundamentals are sound. Nothing has really changed. Long term, it will go up.

I know I would be buying, should I have had some fiat on the exchanges.

 ;D

30 Minute buzzer

holding in the 70s