How deep do you expect the price to fall?

[the_thing]

So.. after a short rebound, the price continues to fall.
At which point (be it time or price) do you expect it to stop and go up again?

Later we will see how good speculators you are.

[1715288436]

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[JMAHH]

Resistance at 9-9.5... I see it rebounding between 9.5 and 10, lower than 10 will break a barrier and many will buy - is my guess. 

[Stephen Gornick]

So.. after a short rebound, the price continues to fall.

There is a national holiday on Monday in the U.S.

In a downtrend, weekends tend to dip (well, historically, there is almost always a dip on weekends during a downswing):

 - http://bitcointalk.org/index.php?topic=63312.msg1147707#msg1147707

[anthony.selby]

Well ... were at 10 dollars now ...

[owdbetts]

I think it's clear that someone is trying to crash the market, by selling heavily at the beginning of the weekend, when they know liquidity will be limited by the inability to make fiat transfers into the exchanges.  Exactly the same thing happened two weeks ago, and I'm guessing it's not unrelated.

How low will it go?  I'm guessing this weekends attempt to crash the market will be far less successful than the previous, which triggered an overdue correction in an overbought market.  This time round I imagine there are quite a few players who anticipated the possibility and more have exchange funds ready and waiting to buy back in when they sense a bottom.  I expect a bounce.

My personal belief is that it will bounce back to $10-$11 and then trade sideways for a while.  But I'm not a trader (of anything) not least because I know full well that I'm no good at trading.  I mainly only do buy-and-hold.  So I'm probably not the best person to listen to on this.

[matthewh3]

I think it's clear that someone is trying to crash the market, by selling heavily at the beginning of the weekend, when they know liquidity will be limited by the inability to make fiat transfers into the exchanges.  Exactly the same thing happened two weeks ago, and I'm guessing it's not unrelated.

How low will it go?  I'm guessing this weekends attempt to crash the market will be far less successful than the previous, which triggered an overdue correction in an overbought market.  This time round I imagine there are quite a few players who anticipated the possibility and more have exchange funds ready and waiting to buy back in when they sense a bottom.  I expect a bounce.

My personal belief is that it will bounce back to $10-$11 and then trade sideways for a while.  But I'm not a trader (of anything) not least because I know full well that I'm no good at trading.  I mainly only do buy-and-hold.  So I'm probably not the best person to listen to on this.

I think Pirate might start some payouts very soon and the market may lower further??

[owdbetts]

I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt).  All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat?  That's a big assumption

[unclemantis]

I got my money on 8

[matthewh3]

I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt).  All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat?  That's a big assumption

Because some people would have only bought bitcoins because of Pirates offer??

[DeathAndTaxes]

I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt).  All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat?  That's a big assumption

Because some people would have only bought bitcoins because of Pirates offer??

No you know anyone like that.  Pirate didn't con a bunch of bitcoin outsiders.  Hell they (looking objectively from a distance) were more likely to see it as an super obvious ponzi.  It was only the bitcoin enthusiast who thought somehow bitcoin could bend the laws of compounding interest.

My guess is the number of people who were complete outsiders to Bitcoin and bought solely to put coins into an obvious ponzi and will sell as soon as possible are a distinct minority.

Maybe it makes people feel better to think that but this was a "hometown" scam.  The people scammed were the people right here in this forum long before Pirate started offering dumbass "wagers".

[king_pin]

I personally doubt that what is going on is somehow connected to pirates ponzi. More likely it is someone or some people trying to bring the price down and buy cheap on Monday morning, like last time, only last time was caused by pirate40,...  only time will tell.
I think that the price will go back above 10$ the only thing that scares me a bit is that Monday is a Holiday.

[matthewh3]

I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt).  All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat?  That's a big assumption

Because some people would have only bought bitcoins because of Pirates offer??

No you know anyone like that.  Pirate didn't con a bunch of bitcoin outsiders.  Hell they (looking objectively from a distance) were more likely to see it as an super obvious ponzi.  It was only the bitcoin enthusiast who thought somehow bitcoin could bend the laws of compounding interest.

My guess is the number of people who were complete outsiders to Bitcoin and bought solely to put coins into an obvious ponzi and will sell as soon as possible are a distinct minority.

Maybe it makes people feel better to think that but this was a "hometown" scam.  The people scammed were the people right here in this forum long before Pirate started offering dumbass "wagers".

Yes but with those rates there is a high chance of seasoned forum members encouraging there peers to cash in.  I'm not saying all BST and PPT will cash out (I won't be doing so with my merge [possible] return) but some will.  Which could help further push down the weekends low and possibly helping a BIG (naming no name's) trader??  

[owdbetts]

Yeah, I think DeathAndTaxes has it right.

Certainly the collapse of BTCST has probably reduced the influx of fiat, but I think by far the largest chunk of that would be from existing bitcoiners; I'm not expecting large outflows, even if Pirate does make significant payouts (which I don't expect).

I see BTC being stable at $10-$11, short term. I don't think we're going to see a continuation of the bubble-licious behaviour we had immediately prior to the correction two weeks ago; at least not for a little while.

[owdbetts]

I personally doubt that what is going on is somehow connected to pirates ponzi. More likely it is someone or some people trying to bring the price down and buy cheap on Monday morning, like last time, only last time was caused by pirate40,...

I have no idea or particular opinion as to who is behind either attempt.  I had assumed the same entity was probably behind both attempts, but yes, today's action could certainly be a copycat.

only time will tell.

I doubt we'll ever know who was selling.

[Aseras]

It always dips at the end of a month. People cash out to pay bills. The 10-12th is usually the highest.

[notme]

8.5

[adamstgBit]

8.5

A bird in the hand is worth two in the bush

[notme]

8.5

A bird in the hand is worth two in the bush

I've got a cage full of birds.  I don't mind letting some out occasionally to see if they can bring back a mate.

[kentrolla]

i think 9.66 was the lowest its going to get from now on.

[lebing]

i think 9.66 was the lowest its going to get from now on.

30k bitcoins says it will not get lower than 9.7