Ok, all BFX longs wrecked, now we proceed to $10,000.
all $25 million in longs? Not even close. not yet. What's more, there were only 7K BTC shorts to cover. We're flying blind until bfxdata.com is back up, but there's no way all those longs got rekt or we'd be in the $200s. Hate to disappoint everyone but longs are still at $26MM hard little critters to squash https://www.bitfinex.com/pages/statsThat's not disappointing at all! More longs to get squeezed. Forced liquidation in the middle of a crash causes a margin call cascade and i get cheap coinz. 20K more to dump is all it would take. We went from $475 to $402 and barely any longs were squeezed!!  Shorts are so tight they burn when we move up $10 feel something else is at play here. I am surprised someone didn't dump the remaining $2 to put us under $400 would maybe see some cascades then   bfx longs aren't exactly at an all time high. In Jul 2014 they were all the way at $32M, and this was back when bfx did ONE TENTH of the volume that it does now. Just this is suspicious to me. |
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I first bought at $100 and traded so much that the cost basis of my coins currently $2. The current drop did effect the value of my coins in the short term. However, I'm glad the drop happened when it did, in an appropriate place in the chart, because I'm really doing is waiting for an appropriate point after a long flat period to take a leveraged position. I was in no way comfortable taking one now. Even if the price doesn't go down any more from here, I don't want to pay margin and hold my coins on an exchange for months. However, when the real breakout happens, I hope I'll be ready, and I'll have a filled in chart behind me to be confident about.
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Can't go down to much past 400. Have you seen the difficulty? Its going crazy and miners cant fine for free. They add hash power with the intention of selling for the price at the time that they added the GH/s. I think what we're seeing is organic upward pressure, increased positive news coverage, and amongst the financial community at that; those guys have money, right?.
Coupled with the fact that its's becoming more and more expensive to mine for a profit, especially since the halving is coming up.
Brace for launch long term (and great volatility 2016).
This is exactly what was said at $800 in 2014. Well, this isn't exactly 2014. But, It was my understanding at the time that Gox took the price down with it. In the week before Gox went down it had the lowest price out of all the exchanges and that caused fud because it was normally the leading exchange in both price and volume. Feb 8th is when news of bankruptcy was official and the price was downwards decent from there until now What I'm saying is that the same argument about cost of production in mining was being used, when it is in fact irrelevant. The cost of mining in no way will support the price. Where does this price support money come from? Who is on the other end of the trade when someone sells coins, a miner? Miners can also sell at a loss, or they can stop mining until the hashrate drops so that it's profitable to mine again. However, the most impactful thing as that there are 14,000,000 coins other than the new ones being mined. It isn't just miners who sell. |
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 Doesnt want to leave the cloud just yet. |
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The fully leveraged margin traders didn't need to fear it was going to 0. They only needed to fear it was going to 350.
Most people are trading just because they think they can play the momentum to make a btc profit, or they're taking profits.
Also, you might want to look up the following: stop loss order, margin call
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you're all a bunch of retarded faggots driven by your emotions.
Some no-life faggot playing with daddys money decides to sell and the rest of you faggots join in.
Just off yourselves.
Did the traders really ruin it for you? What do you really think would have happened if nobody sold? A slightly larger rise with an even harder crash? |
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looks like 402 was the bottom for now
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Can't go down to much past 400. Have you seen the difficulty? Its going crazy and miners cant fine for free. They add hash power with the intention of selling for the price at the time that they added the GH/s. I think what we're seeing is organic upward pressure, increased positive news coverage, and amongst the financial community at that; those guys have money, right?.
Coupled with the fact that its's becoming more and more expensive to mine for a profit, especially since the halving is coming up.
Brace for launch long term (and great volatility 2016).
This is exactly what was said at $800 in 2014. |
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it was a concentrated and coordinated dump in China.
The Chinese exchanges are actually sleeping now. It looked like it was bfx. |
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Anything can happen in Bitcoin. It might go to the left.
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Good old bitcoin. You can always count on the crash.  Now I can go pee ... whew I know. I hate it when I'm suddenly back to the price from 20 hours ago. That's like 20 bitcoin years. |
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The exchanges still stuck. Mtgox was better, before it died. Fiat has been in a disaster for the last 10 years (its the mantra of bitcoin) and interest rates are going up. and buying into ... dopamine seratonin stimulants.
Cant even do that anymore. |
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It's probably the start of a long sideways period.
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This is due to wallet software using more and more addresses, more sophisticated mixers, and proof of concept services sending thousands of microtransactions between them. This number does does not correspond to people, at least not suddenly at the scale indicated in that chart. |
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It's not just the dump, it's the paper thin orderbook I was warning about yesterday. During most of the rally, the bfx order book went up from 30k to 42k and then over the past 3 days it has gone back DOWN from 42k to 28k even BEFORE the dump.
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Feel like 2013 yet TERA?
It's not like 2013 until the exchange is DDOSed |
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question is: what happens at 500$?
i can't imagine us going through it just like that. correction is very likely, maybe down to 450 again...
Probably what we saw at $400 ceiling this run up. Lots of bucking and bears trying to win; They will be slaughtered. Every. Last. One. I presume we will test $485-$500 all weekend. Then bust the $500 nut Monday or Tuesday. Then again, our Sunday is China's Monday. Be on your guard. Hodl! After adding up all the Bitcoin needed for online payments, remittances, micro-transactions, the unbanked and other applications in the year 2025, he concludes that one Bitcoin will, by then, be worth $17,473, and that the present value of a Bitcoin would need to be $604 today to support that amount of economic activity in 2025. If Luria’s projection becomes true, anyone investing today would see a 40+x return within 10 years. http://www.forbes.com/sites/laurashin/2015/12/11/should-you-invest-in-bitcoin-10-arguments-in-favor-as-of-december-2015/Forbes seems to believe we are headed $604+, then $17,473 BULLISH This would be the first time in the history of bitcoin that the price from a major rally was simply passed without a 4 consolidation period. There was fake out rally every time. |
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Why torture yourself with following the market and trading if you're going to just use 2%? I only trade(d) to strike it rich and make significant increases in my btc, and I still hate it.
Maybe he just isn't a brilliant gifted guru like yourself. You come off like a pompous ass. 1st world problems, being glued to a computer screen, such torture. Some people actually work for a living. If he's not profitable then that makes TWO reasons not to follow the market or trade. You are one who sounded like an asshole making an assumption that I make losses right off the bat because you have this vendetta against traders. Also, I have a full time job. |
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