Bitcoin price hit new lows

[Bitbuy]

so i just put on my tinfoil hat(smoked some drugs) and thought to myself, what if China planned this all along? what if they wanted to pump the value of BTC through the roof and then dump it all? Kings of pump and dump in the BTC marketplace?

Doesn't seem so impossible...once Chinese get involved, everything gets spiced up a notch  First they get their gains for Bitcoin, then ban it, and then "invent" ChinaCoin.

It seems that coins are pretty 'cheap' right now. The question is: would you want to buy some given the less rosy market trend at this time?

Well; I would buy some yes, if I had fiat left for that. I already bought some extra on the way down, but as it now seems the bottom will be even lower. No regrets though, these coins will be added to the "By&Hold" Stash.

[piramida]

i wonder how pissed the winklevii are. or how pissed the winklevii's investors are. wonder if they've sold yet.

why would they be pissed, they bought at double digits 

At low double digits mind you; they announced around $13. How pissed they are right, probably trying to sell all at $13 as all the other losers here who have no idea what investing is

PS just bought some nice coins at $490, we should all thank Chinese commie leaders for that. Hopefully they will make it a criminal offence to own coins and drag the price even lower...

[Bitbuy]

i wonder how pissed the winklevii are. or how pissed the winklevii's investors are. wonder if they've sold yet.

why would they be pissed, they bought at double digits 

See no reason for them to be pissed. I think they are in it for the long term.

[Guava]

Doesn't seem so impossible...once Chinese get involved, everything gets spiced up a notch  First they get their gains for Bitcoin, then ban it, and then "invent" ChinaCoin.

AliCoin from Alibaba group 

[Bitbuy]

Doesn't seem so impossible...once Chinese get involved, everything gets spiced up a notch  First they get their gains for Bitcoin, then ban it, and then "invent" ChinaCoin.

AliCoin from Alibaba group 

MMM I wonder if they would go as far as creating AliCoin ASICS....

[piramida]

Doesn't seem so impossible...once Chinese get involved, everything gets spiced up a notch  First they get their gains for Bitcoin, then ban it, and then "invent" ChinaCoin.

AliCoin from Alibaba group 

Alibaba and the fourty thieves?

[traderCJ]

i call 1000$ in early 4th quarter.  the possibility of 100$ and 200$ is out of the question. the bottom i would say is 265- 355 $ , for the holiday season. and a possible 200$ in march - april.

Why so low in march-april?

[BitcoinWalker]

i call 1000$ in early 4th quarter.  the possibility of 100$ and 200$ is out of the question. the bottom i would say is 265- 355 $ , for the holiday season. and a possible 200$ in march - april.

Why so low in march-april?

End of a buying-selling cycle, maybe?

[bathwater]

i call 1000$ in early 4th quarter.  the possibility of 100$ and 200$ is out of the question. the bottom i would say is 265- 355 $ , for the holiday season. and a possible 200$ in march - april.

Why so low in march-april?

holiday debt, rents, bills, new and existing payments, tuition, the economy is always in a slump beginning of the year. so everyone who is invested more than they can do without would try to gain any extra cash they might have. those who want buy in but cant invest, wont. the people who buy in are going to be the long term holders. yourself and i. but small purchases and large hording will not grow the coin's value, but keep it stagnant.

most of all its bitcoin's itself. the idea set off a chain reaction of anyone starting their own coins. and while its like the dotcom. bubble only the best financed and rooted in existing establishments are going to rise. the banksters are in the game already. they just need to connect with their media buddies to dirt the bitcoin name as being unstable and premature.

the best thing going for bitcoin is its brand name. bitcoin is the establish digital currency, the flag ship. but its biggest threat is the lack of organizing. whichever digital coin starts advertising on television first is the coin to make long term investments in.

[BitcoinWalker]

The latest buy price on Coinbase is $400 per coin (down from $510 an hour ago). Will be $100 soon, ready for cheap (possibly worthless) coins in the coming days.

[deherbs]

This isn't low, I remember when it dropped down to around $2 a coin a few years ago

[flyG]

Let's call this the great 2013 reset...

I'm really afraid that this extreme volatility (value divided by ~10 in a week if we hit $100) will badly hurt the bitcoin network/ecosystem as the media will gladly amplify this crash.

Why I really love the dream, this just really looks like a crazy gambling casino game right now...

Not sure how I can convince anyone to use/invest in it anymore... That's quite sad.

Disclaimer : I'm 100% fiat, sold @$650 to break even my average buy value.

[dg2010]

For people with balls to keep FIAT in the exchange, this is the time to get ready to buy.

I have put in some orders all the way down to $250 so that I'm ready to be part of the next bubble in 6-12 months time.

Everyone saying this is the end of Bitcoin is likely to be wrong. This is not the end, this is the journey. Yes Bitcoin is mad volatile and this hurts big time, but peoples memories are short, in 6-12 months Bitcoin will most likely surpass the recent bubble, and people will forget what happened today. The cycle will repeat many more times until we have decent legislation so that we can drive adoption and get better exchanges and bigger markets. Volatility will come down as the ecosystem evolves and the speculators start to understand what Bitcoin is really about.

[zamazama]

it's funny how everyone is calling the bottom so high .. there is nothing stopping BTC from going to $10 .. highly unlikely ... but $100 is very possible. Not only the chinese are going to panick sell but other people that bought @ $800-$1000.

Of course holding is the right thing to do .. but it's easy to make that call if you haven't lost 50% (ie. early adopter).

[dg2010]

it's funny how everyone is calling the bottom so high .. there is nothing stopping BTC from going to $10 .. highly unlikely ... but $100 is very possible. Not only the chinese are going to panick sell but other people that bought @ $800-$1000.

Of course holding is the right thing to do .. but it's easy to make that call if you haven't lost 50% (ie. early adopter).

Nope. Not going to happen. That happened in the early days when people were trading with BTC which they did not spend much money on, either they mined or they got them for pennies. So they just wanted to get as much money out as possible, selling at ridiculous prices wasn't a question because they were still making profit.

Right now the psychology is different. Anyone trading today with BTC most likely paid good money for it and simply will not dump their coins and take a huge hit on their coins, they simply won't sell down to $100. Not to mention the huge buying pressure at that point. I cannot see this going down below $300 for long.

The guys with big coin holdings don't need to dump and would rather wait until the next bubble anyway.

[BitcoinWalker]

The survival of Bitcoin and Litecoin has nothing to do with their exchange rates. Their survival completely depends on their utilities, and their utilities ultimately determine their exchange rates.

Too many people have views that are clouded by greed, and they are ignorant of the fact that Bitcoin and Litecoin are payment systems (which happen to have their own currencies). The more people that lose sight of this fact, the more likely it is that Bitcoin (and Litecoin) will fail.

https://bitcointalk.org/index.php?topic=314547.msg3432696#msg3432696

This argument was said more than a month ago and it seems like not too many people agreed with it. Only time will tell but I think it has some very strong merits.

[MtFox]

it's funny how everyone is calling the bottom so high .. there is nothing stopping BTC from going to $10 .. highly unlikely ... but $100 is very possible. Not only the chinese are going to panick sell but other people that bought @ $800-$1000.

Of course holding is the right thing to do .. but it's easy to make that call if you haven't lost 50% (ie. early adopter).

Nope. Not going to happen. That happened in the early days when people were trading with BTC which they did not spend much money on, either they mined or they got them for pennies. So they just wanted to get as much money out as possible, selling at ridiculous prices wasn't a question because they were still making profit.

Right now the psychology is different. Anyone trading today with BTC most likely paid good money for it and simply will not dump their coins and take a huge hit on their coins, they simply won't sell down to $100. Not to mention the huge buying pressure at that point. I cannot see this going down below $300 for long.

The guys with big coin holdings don't need to dump and would rather wait until the next bubble anyway.

Time is money and the next bubble is still a big when. This crash will keep anyone with big coin holdings awake at night for sometime.

[cybnate26]

Bottom might even be a bit deeper this time, because we are close to Christmas. Most speculators will consolidate their positions back to dollars and abandon the market till after Christmas and New Year.
And of course everyone who made a bit of profit is now stepping out to pay the Christmas bills.

It is all just triggered a bit earlier than expected because of the Chinese going out of the market (for now).

I'm in for the long haul, let's see how we look end of February. Bet we're back to $1000 or higher probably.
I would say, it's getting a good time to buy a bit more.

Just my thoughts.

smart.

i wonder how low you think it might go. although by the time feb. gets here, ive heard the jpmorgans are rolling out with their own version.

although i agree with your about the near holiday slumping, im worrying about the feb - june time period.

i call 1000$ in early 4th quarter.  the possibility of 100$ and 200$ is out of the question. the bottom i would say is 265- 355 $ , for the holiday season. and a possible 200$ in march - april.

I'm sleeping perfectly fine as I don't need the money right now. As we have seen before there is a lot of support at the $500 mark, so it's likely to hover around that for the next couple of weeks.
Depending on media coverage, and I suspect there will be some as there has been some investments in this new technology which should come to the market early next year, it will go up relatively fast.

Better investment tools (e.g. hedging via bitfinex.com) are underway and would probably have a stabilising effect in the long term especially when bigger investors are attracted.

And yes, the competition from the banks in underway (http://www.istart.co.nz/index/HM20/PC0/PVC197/EX245/AR29869). Here in New Zealand they are starting to roll out mobile cashless payment systems. So there will be some healthy competition. Possibly those providers will also pick up bitcoin (and some other good altcoins) and have the banks compete with their system.

As said by 'bathwater' the first to get some solid branding and relatively low fees (or a smart fee system) will probably bubble up. But I'm sure there is room for a few systems.

Anyway, I have the popcorn out, interesting times.

[piramida]

it's funny how everyone is calling the bottom so high .. there is nothing stopping BTC from going to $10 .. highly unlikely ... but $100 is very possible. Not only the chinese are going to panick sell but other people that bought @ $800-$1000.

Of course holding is the right thing to do .. but it's easy to make that call if you haven't lost 50% (ie. early adopter).

Oh hi newly converted No, you are not seeing 10 or 100 anymore, in case you didn't figure it out yet.

When I first bought coins, and substantial amount of fiat went into that, they were $17. I then watched (traded a little swings but never sold) for half a year while they slowly went to $2 and stayed there. So this 50% correction here is purely nothing, of course if you understand what bitcoin is and not just here for the quick ride to the moon.

This little correction is just why not everybody can profit from bitcoin. People that bought at 1000 and exited at 500, well, they are fucked because they will never reenter back, waiting for the unicorns to sing $10.

[Bitbuy]

What I find even more mind-boggling, is that those people FAIL to see this happening, time and time again!
For them, it is indeed a pyramid scam, due to the way they are dealing with all this.

it's funny how everyone is calling the bottom so high .. there is nothing stopping BTC from going to $10 .. highly unlikely ... but $100 is very possible. Not only the chinese are going to panick sell but other people that bought @ $800-$1000.

Of course holding is the right thing to do .. but it's easy to make that call if you haven't lost 50% (ie. early adopter).

Oh hi newly converted No, you are not seeing 10 or 100 anymore, in case you didn't figure it out yet.

When I first bought coins, and substantial amount of fiat went into that, they were $17. I then watched (traded a little swings but never sold) for half a year while they slowly went to $2 and stayed there. So this 50% correction here is purely nothing, of course if you understand what bitcoin is and not just here for the quick ride to the moon.

This little correction is just why not everybody can profit from bitcoin. People that bought at 1000 and exited at 500, well, they are fucked because they will never reenter back, waiting for the unicorns to sing $10.