Bitcoin Forum

/ me - coming out of cover...    "Has the storm passed yet?"

Wow... 2-month low... MtGox just dipped to $10.12!
The huge 10.00 wall seems to hold.... Climbing up and building a good support along the way there..
Thanks god it seems to be a legit wall - not disappearing when bid price creeps near this wall like some fake walls we've seen in the past.
I had my finger at the sell button there... the moment this 10.00 wall disappear, I predict there'll be Bitcoin armageddon.

Funny thing... some folks at Tradehill couldn't bear the risk that and sold HUNDREDS of coins at $8.10  <--- That's Eight Dollars and Ten cents! TH Price spike back to $11 afterwards..


Edit: Oh dear... celebrated too early... Now there's a sizable ask wall going head-to-head with the larger 10.00 wall.

What's actually scary is the ceiling coming down on top of that $10 wall. There are a hell of a lot of people who put a lot of money in recently (during stagnation rallies) that were ready to sell at $15...now they're wondering whether to sell at 10 before everyone else, or to not panic and pray for it to hold out.

Oh, the $10 wall seems to have vanished...nasty rug pulling!

I'm sad. People are panic selling when I don't have any USD to snap up all their cheap bitcoins with.

You're probably sad because you were bullish at $12 and you're watching your speculation blow up in your face.  ::)

I'm still bullish. Why shouldn't I be?!

The question is why should you be.

Do you actually have anything of substance to contribute here?

Hey, I'm positive on Bitcoins too.  Am eager to get in on the cheap coins.

I hope all the people that were on it for a quick buck leave causing the difficulty to slow its increase or even drop a few points.  ;)

There's nothing to be bullish or bearish about in the short term. The price is dropping on emotion and mining proceeds being sold.

Tbh, I'd lean towards bear until we get any positive new signals. BTC wallet services and a big exchange just went down, that's reason enough to be negative.
Maybe those coins are even being sold off right now.

Sure, I'd like the price to go up. If it's based on positive advances in the bitcoin world.

Man I wish I had bought that cheap ! But who could have guessed it would spike down that low when it was never under 9 for more then seconds ? You had to be Billy the Kid to react to that... Or have excess money reserved for an off chance buy order... But I don't have excess money.

No, that would be somewhat sensible, but it wasn't not like that. The disappearing $10.00 bid support + psychological impact of bitcoin in single digit is enough to drive price down to anywhere in $6-9 range.
But the panic sell to $8.10 happen well BEFORE the thousands-bitcoin worth of bid sitting at $10.00 even disappear.

BUT IT MIGHT NOT EVEN GO BACK UP, THAT IS THE PROBLEM.  5 to 9 bux might be the stable price of bitcoins future.

It probably will in the longterm, as more people find out and buy in. 7 billion minus ~100 000 people to go.
As for the shortterm let me help you get rid of your btc bought at high prices, like I said I'll pay over market price with AP. Paying 10.5$ per BTC for ~14 BTC.

Never know what it will do, but I think 13 to 14 will be the range it stays in and gets back to.  This is the lowest in like 2.5 months or something so I think it will work out, and still sold today even at 14 a coin so looking strong, it will pick back up

Good thing everyone but me is a bull, otherwise I'd be looking at a real bloodbath.  Me, I'll continue selling as quickly as my hardware mines until I see a solid uptrend though, I don't see any reason to ditch the bear skin yet.

If everyone thought like you we would be at $1 by now. Why do you think your money is worthless?

I am serious when I ask you this.

Why does $1 scare you?  I absolutely don't care what the absolute price in dollars is.  $1 or $1000000000 per BTC is the same to me.  What matters is return on investment, or volatility, or stability and utility. 

Also, I'd much rather be holding BTC at $1 than at $30.  A market cap of 7 million is a far more reasonable valuation than 180+ million was.  It's a lot easier to absorb a $7200/day inflation than a $72,000 a day one.

I don't think my money is worthless.  I like money, that's why I'm not giving it away.  All my analysis points to BTC being very much overbought and overvalued at current $11 price levels, with potential to continue sliding short term.  Of course I'm putting money where my mouth is and shorting BTC to go long dollars as much as I'm able because so far my short term expectations for BTC price movement have been met.

I was going to keep some BTC for that "double or nothing" gamble, but then realized I can get more cheaper before too long.  So to the market they went.

We definitely want stability, but I think it is valued about right, considering the benefits of using it, the cost of using it, the positives and strengths it has, the more businesses are accepting it and the cost to mine the coins plus the finite number of coins ever available I think put the price right around 8 to 10 bux.  If it stabilized there, mining, spending and using bitcoins would be just right worth it, and open it up to outside USA markets and its really solid.  If any major move happens like amazon accepting it, or new egg, then the value will shoot back to 30 bux I feel.  That would be cool. BUt thats just my thoughts lol