Bitcoin is looking weak. Recommend you guys take profits soon over $1000.

[xavier]

Agree with the OP, this is the time to take BTC off the table.

At current price (~$800), you may have missed out on getting $1000+ , but believe me and him, this price is going lower and there is still a good opportunity to offload your coins and take a nice profit - if you were in at $100, $200 or less - or a small loss, if you were in around $1000.

I don't agree its because of a single manipulator - it could be , of course - but I think its because of the bubble syndrome. Too many weak hands in USA, Europe and China - bought in too quickly.

Also , bitcoin does not need such a high value - it is simply because of the media frenzy that has driven the price.

I also agree that , given the risks inherent with bitcoin , the current valuation seems ridiculous.

You guys need to be aware that this price can drop 75% from it's high. It's totally possible and we haven't seen it since the price reached $1000. Also , after a big crash there is not necessarily going to be a reason for it to "recover" quickly.

[EvilPanda]

Have to commend OP on the fact that he actually predicted the market is going down, few hours below it actually happened.

People predict it every single day. Like waking up every day shouting "this is the day I die".

[vanchau]

This was pretty good advice...

I'm a huge bitcoin fan, and believe in it long term, but understand it has a lot of volatility.

Based on this advice, I sold all coins, then took a short position. 

Thanks for the advice, it made me think about the best way to invest in bitcoin for both short and long term.

Can't wait to buy more at the bottom..

[j0b314]

sad but true at least for the past few hours. what's the bottom projection? 600's been going around and we're there... 

[Hfertig]

I have some limits placed around 120 to 150, but would not rule out double digits

[JakeGold]

I have some limits placed around 120 to 150, but would not rule out double digits

After the 265 peak, the lowest we saw was 65, or ~25% of peak. A little below the average 30% for tech bubbles crashes.

GoxUSD peaked at $1240, so a crash to 25% would be ~$300. I'm not sure we'll ever see double digits again, until bitcoin is displaced.

[shadowninjax]

this thread turned out quite interestingly accurate.   we're going 570 right now and lower..

[ajax3592]

this thread turned out quite interestingly accurate.   we're going 570 right now and lower..

Edward50 we need you! Would love it if could predict the bottom of this crash and the approx date.

[shadowninjax]

this thread turned out quite interestingly accurate.   we're going 570 right now and lower..

Edward50 we need you! Would love it if could predict the bottom of this crash and the approx date.

I sense the same need right now. Edward50, hes quite good at predictions!

[shmadz]

this thread turned out quite interestingly accurate.   we're going 570 right now and lower..

Edward50 we need you! Would love it if could predict the bottom of this crash and the approx date.

I sense the same need right now. Edward50, hes quite good at predictions!

The timing of this thread is what makes it exceptional. It's been quite a drop since then. Hard to say when or if a bottom's been reached. There's been a nice bounce at around 600 and it almost looks safe to buy back in (If you hadn't been buying the slide already) but then again, it could just be another bump on a slow, agonizing, downslope the likes of which we have not seen since the first time from 30 down to 2.

I don't even try to time this kind of crap. I'll leave that to the mentats like Edward50 

[T.Stuart]

LOVE it..   Hope it keeps going down..  Bot I use got me out of Bitcoin at $998...  All Cash now baby..  I sleep well at night..

Now my Bot will buy a BUNCH more BTC once the price starts back up..


Buy And Hold???   hahahahahahahahahahahahahahahahahahah

You're talking out of your ass so much perhaps you should let your bot take over your comments altogether

[donjoe]

I missed my $1.00 range to buy in as it hit $2.01. I was close enough. Same stupid mistake was I predicted oil would hit $20 a barrel in around 2008, it hit like $30, my plan to buy in big at $20 and I missed that opportunity.

My two satoshis for people who strike out like that: spread out your orders, don't bet everything on a single price point. I like to distribute my orders on a bell-shaped curve centered on my main prediction, for example.

[CoinGeneral]

My last point is, don't be stupid and greedy and take money from these rich manipulators. They will soon be letting the price fall very soon and doing a controlled drop while cashing out all the coins they accumulated when bitcoin was much cheaper.

Flame away, but I will stick to my position.

I LOL at all the people who were like "It's not going to crash, you're an idiot!"

I think all those comments were deleted now, everyone knows they're wrong and that OP was right.

[piramida]

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

It's your money and your way to lose them We'll talk again once you buy at 1300.

LOL.
 
Can I ask a question?

How silly are you feeling right now?

Not feeling silly at all, I just don't take such risks as bidding against a long-term trend and you do, this time it worked for you, grats, but as I said, we will talk when you buy at 1300, this day will be soon It's just a delay and a good (welcome) opportunity to buy, for me as well, but I don't feel safe being out of more than 20% of my BTC position - it's always smarter to just increase it a little at the dips after they happen, rather than try to time them and get out completely and risk decreasing your position alot. Sometimes taking a risk pays off, I give you that, but I don't like gambling with alot of money

I like slowly building my position at opportunities. Bought 20 at 650, and plan to do the same if, for some reason, the dip goes to 550 and 450 etc. It still could, does not mean I would be selling anything, trying to predict where bitcoin would go tomorrow It is impossible. There is only one thing you should know - where it's headed in a year.

[Ibian]

My last point is, don't be stupid and greedy and take money from these rich manipulators. They will soon be letting the price fall very soon and doing a controlled drop while cashing out all the coins they accumulated when bitcoin was much cheaper.

Flame away, but I will stick to my position.

I LOL at all the people who were like "It's not going to crash, you're an idiot!"

I think all those comments were deleted now, everyone knows they're wrong and that OP was right.

I said from the start that it probably won't go below 700. It did, briefly, but it's back over the 750 mark already. And looks to be rising. Don't think it will go much lower from here if at all, and another week or so should see us back near 1k.

I wouldn't even call this a crash, it's normal and expected for these events to happen. A crash to me is where b&h turns out to be a bad investment over more than at least a few weeks. Hasn't happened.

[Le Happy Merchant]

I have some limits placed around 120 to 150, but would not rule out double digits

After the 265 peak, the lowest we saw was 65, or ~25% of peak. A little below the average 30% for tech bubbles crashes.

GoxUSD peaked at $1240, so a crash to 25% would be ~$300. I'm not sure we'll ever see double digits again, until bitcoin is displaced.

266 to 50.

also, a bottom like that only lasts a minute, and is due to momentum. We already bottomed out.

576.