The 2nd Pull Back, $100 drop in 24 hrs

[Viperbass]

We are now in the midst of a 2nd major pull back and like with all major pullbacks in history, they happen in a lot short space of time compared to the climbs, so we have a mini burst but I think
prices will be supported at $250.

Obviously this is terrible news for miners who are throwing a lot of money into these rigs which are already  looking at a net loss when I worked out the price at $310.

I can see a lot of cancellatios inc if the prices continues to fall.

[cp1]

 Miners look at btc  return, not usd.   Or at least they would if they were in it long term.

[Shallow]

Sell sell 

[AceCoin]

Sell sell 

 (° ͜ʖ ͡°)

[unknownfame]

You guys think it will drop any further? I'm thinking of buying some bitcoins.

[greaterninja]

You guys think it will drop any further? I'm thinking of buying some bitcoins.

China seems to have been the strongest buyer of bitcoin lately.   I would wait a few hours and see if their demand picks back up on btcchina.

If that does not happen, then yes I would wait for it to drop to the $100-$200 range.

As a precaution I have sold 1/3 of the btc i hold because anything ~300 or above is a decent profit for myself and unfortunately I may have to move to San Francisco...so I need fiat.

[Omikifuse]

$100 is just a minor correct, buy buy buy.....

[Kenshin]

It is climbing back up now. I wished I wake up a few hours earlier. I would have buy some bitcoin.

[realitycheck]

It will all be fine in the long run - unless you want to day trade, just sit tight for the long term gain.

[waltermot321]

Miners look at btc  return, not usd.   Or at least they would if they were in it long term.

Not 100% correct, you can buy ASIC with USD.....