I have my explanation why the drop happened - price has gone to $43 and some big guy was playing with a big 50k BTC wall at the Gox, trying to set a SCARE WALL at $43, but accidentally typed $34 instead and kaboom! He's now hanging from a ceiling somewhere in a Singapore hotel room and we have had some cheap bitcoins, all went well.
Heh, if that's the case good riddance then  |
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One of the early times I looked into it it seemed like a sea of chat-rooms consisting of a lone pervert looking for someone to remotely diddle.
I'm pretty sure this applies to the Internet now. |
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People who create/use scam-coins er...alt-coins are too busy crying that they can't mine BTC anymore to actually, you know, create something useful.
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Hehehe. $44 is dead. Long live $45.
Seems to be hotting up, I wonder how long it will be until MtGox goes bad again. Not very long at all, it seems. Bitcoinity already has a 25 second lag warning. |
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Hehehe. $44 is dead. Long live $45.
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Of all the alternatives proposed in this thread, I think bitcoinity is the most reliable.
I agree. I just started using it, but it doesn't seem to get completely flaky when lag goes up and has the ability to correct itself without a refresh much more often than clarkmoody. I still like to watch clarkmoody when things are running smoothly though. Well, it will let you know if there is lag how much of it. Then it will rush to catch up, which makes for interesting viewing. Plus, if you ever watch it during a crash or during a run up to a new all time high, you'll see the gif's, which are hilarious! I've seen the new high gif, which made me lol. What is the crashing one? |
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There's no way of knowing, really. I think we may see a more pronounced weekend dip than in the last few weeks, simply because of the "OMG Bitcoin is crashing!" effect. So I'm sending money into the exchange to be ready just in case  I'll always be the first to admit that no one knows until we know That's why I don't try to pretend I know with stupid charts with MS paint lines drawn on them I really don' think there is a "crashing" effect any more though. We're back at $45, which is higher than we started yesterday and even with all the wackiness of yesterday we ended up with a green bar on bitcoincharts. Like I said, barring another flash up by $5 dollars or something, I feel we're back on track. |
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Just half a year ago, a dump like yesterday's would have taken weeks or months to recover from. Not bad, Bitcoin, not bad at all.
For sure. The pattern we've been seeing for the last two months seems to be 1. Bitcoin breaks into new $10 increment range 2. Some bears try really really hard to dump 3. Buyers snatch up low priced coins and price goes back to where it started 5. Everyone realizes that the demand at new range is for real and everyone buys as many coins as they can 4. Rinse and repeat At the moment, it seems the pattern is repeating for $40. It'll be interesting to see if it continues. So you think there will be no further correction today? The only correction will be upwards. But no, I don't think the price will get below $42 or so again unless there is another huge jump up like yesterday. The demand for BTC at $45 is so real you'd be stupid to sell below it. Like, real dumb. |
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I think if the price manages to hold above $40 by the end of the week, the bears will be in trouble and the bulls would have won this battle. But it's still anyone's game at this point and the critical US market has just woken up!
This has been happening since Jan. at least. The "bullish bears" have been saying they're waiting for a "crash" to buy back in since the price hit $15. I think the flash rally/crash yesterday may have been their last, best chance to get back in. |
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Of all the alternatives proposed in this thread, I think bitcoinity is the most reliable.
I agree. I just started using it, but it doesn't seem to get completely flaky when lag goes up and has the ability to correct itself without a refresh much more often than clarkmoody. I still like to watch clarkmoody when things are running smoothly though. |
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Just half a year ago, a dump like yesterday's would have taken weeks or months to recover from. Not bad, Bitcoin, not bad at all.
For sure. The pattern we've been seeing for the last two months seems to be 1. Bitcoin breaks into new $10 increment range 2. Some bears try really really hard to dump 3. Buyers snatch up low priced coins and price goes back to where it started 5. Everyone realizes that the demand at new range is for real and everyone buys as many coins as they can 4. Rinse and repeat At the moment, it seems the pattern is repeating for $40. It'll be interesting to see if it continues. |
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If it drops to $30 I'm buying in again.  Ditto (well, buy MORE than I was originally going to buy). This is why any dip into the $30 will only be momentary. There is obvious demand for BTC at the +$40 range. Only desperate bears wanting back onto the BTC bus will tel you otherwise (usually accompanied with really awful TA charts) |
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The fiat is back.
How do you mean? I really don't understand why anyone would sell more than a handful of BTC at a time at the current price. There is such obvious upwards pressure and willingness to buy at higher prices. Oh well. Long live the $40 dollar range! |
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You mean people...actually sell their coins for USD? Why on earth would anyone want to do that?!
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Sold at 49, bought at 35  Love bubbles how did you know to do that?? It's the same as asking gamblers exiting a casino about whether they won. Those that did will proclaim loudly how much money they made. Those that lost (the majority of punters) remain silent. He didn't know any more than a roulette player knows the ball will land on black next. This. But I don't think we'll really know where the market is at for another 12 hours yet. Things are bouncing all over. I do like how the drop to mid-thirties now qualifies as the bottom of the "crash" though. |
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Oh bears, you try so hard to sound relevant.
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I think this is what they call "price discovery"
It seems that sellers were caught napping and the price spiked. We're just seeing the price as it should of been as of this morning ~$40
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I just wanna say, that my strategy of buying and holding has been paying off. Everyone take note!
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 after adam ran out of breath, the train kept going and going far into the distance. Adam was very thirsty and he could see a vending machine back at the train station... he went to buy a water bottle when he realized... it only accepted bitcoin! all day adam was asking people to trade 100USD for 0.032BTC so he could buy a bottle of water... sadly adam died that day of dehydration caused by lack of bitcoin.   Adam, no tears! Only dreams now! It's not too late. It's never too late. |
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Was there an insanely huge buy I missed (I'm not watching the charts activley) or is it really just a case of no sellers/sellers caught flat footed?
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