This is the first time in a long time that bitcoin is a strong buy.  Down 30% in the last few days, market cap well below 1 billion, and significant positive news in the last few days.  I don't care how many negative articles are published about the Winklevii ETF, it is a positive for BTC long term.   

So why exactly are people selling their Bitcoins to have dollars on the exchange that they think is going bankrupt and doesn't allow them to withdraw at the moment?
That doesn't make sense at all.

Even a bitcoin crash is not a straight downward movement. We had a retrace from 82 to 89 just a day ago (bitstamp). Didn't keep the price to crashing down again afterwards, but if you see a chance to catch that upward movement, why not take it?  

Oh I'm still holding coins long term, I never said I was selling did I?

But I am going to buy a lot of new coins soon.

I doubt it, there's a long way down to go still. We broke through the two previous lows 88 and 79 like it was nothing, I just don't believe it's going to stop here. $50 might be the bottom, or $20-30 even. Real panic and despair is going to break out soon. I know I had a different opinion before, but after seeing 79 break like that you can't just expect sentiment to change now. The 2011 self-fulfilling prophecy is here and theres no stopping it. No more denial, the game is on now.

We got to watch out for people like this, does anyone else remember his ultra bullish posts from just a few months ago ? Now he makes thread about "feeling like selling out", "darkness is coming" etc.

There will be a point when almost every bull has lost hope and turned bear, that's when we know the bottom is close

PS: Sorry for your loss.

Oh goody...
More than I thought are still in denial.

http://www.reddit.com/r/Bitcoin/comments/1hkqim/are_you_still_holding_large_amount_of_btc/

Thanks.


So since a week ago, you can now short Bitcoin on their account. 

I'm holding out for sure until Winklevoss IPO hits which values coins at $100 each. Lets see if the institutional investors like Bitcoin, easy to purchase a stake in.

Chill out man, worst case scenario, hold your bitcoins for a year and make a massive profit.

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Cool story bro.

Something doesn't seem right. Market depth is so heavily in favour of buy with 1k moving us down 1 dollar or up 5 dollars.

I'm holding, as usual  

2) If you think one bitcoin will be worth millions in a few years, it hardly matters if you have 200 or 400; you're going to be a fucking tycoon either way.

TL;DR: Only sell large portions of your holdings if you think Bitcoin isn't going to succeed.

Bitstamp and CampBX trading higher than MTGox. Oversold?

Right. They bought a large number of Bitcoins. Now they want to unload them. But how? Mt. Gox isn't paying out USD to traders who sell, and nobody with $20 million would trust it to Mt. Gox. Tradehill probably doesn't have the volume to sell that many without crashing the market.  By creating an exchange-traded fund, and funding the initial offering with their Bitcoins, they have a vehicle for dumping 200k BTC.

I don't think this word means what you think it means.

to reduce (a price level) or cause (a volume of credit) to contract