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ravenjt
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August 19, 2015, 11:31:01 AM |
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If it goes below 200 on all the exchanges, I think we are looking at the next big step down to 100-150. We haven't had a big step down since Jan-Feb, when it went from 330 down to 200. Since then it has been mainly in the 200-300 range.
The lesson from last year is that the big steps down occur when the price goes below the previous low, which in the current case is 200. When the price goes below the previous low, many people panic sell, thinking the end is nigh, and hence the next big step down occurs. The price never really recovers afterwards.
See, for example, the recent high of 320ish. It was still below the previous step level, which was north of 330 (in Dec 2014).
So my prediction is that in the next few days it will go below 200, and then, very rapidly (ie before the end of this month), the next big step down will occur, to USD 100-150 range. There will be much wailing and gnashing of teeth.
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NeuroticFish
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Looking for campaign manager? Contact icopress!
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August 19, 2015, 11:38:09 AM |
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If it goes below 200 on all the exchanges, I think we are looking at the next big step down to 100-150.
If... There's still a long way down. There's a big chance that 200$ will still act like a hard-to-pass barrier. It wouldn't be the first time. |
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Borisz
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August 19, 2015, 03:27:02 PM |
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If it goes below 200 on all the exchanges, I think we are looking at the next big step down to 100-150.
If... There's still a long way down. There's a big chance that 200$ will still act like a hard-to-pass barrier. It wouldn't be the first time. "Long way down", dropping from 250 to sub 230 took about an hour. Nevertheless, I'm with you saying that (hopefully) the 200$ barrier is strong. |
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BitcoinNewsMagazine
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August 19, 2015, 07:09:44 PM |
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I think Mike Hearn needs to take some heat for this flash crash. Markets hate uncertain times and Bitcoin XT primed the pump for the flash crash at Bitfinex yesterday which was due to margin calls then follow the leader dumping by scared spectators. As long as the possibility of a hard fork is in the news expect volatility.
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GotaPauj
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August 19, 2015, 08:24:15 PM |
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That crash i think nobody wanted to happen, anyway i think is the best time to buy as the bitcoin price is growing a bit.
Meanwhile i read an article in coindesk "Bitcoin's price fell 14% in a period of just 30 minutes following a 'flash crash' on exchange Bitfinex yesterday night."
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talks_cheep
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August 19, 2015, 10:50:19 PM |
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There's too much Fear, Uncertainty and Doubt in the market right now.
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tommorisonwebdesign
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August 19, 2015, 10:59:27 PM |
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I don't think the price of bitcoin is ever going to sink below $200 again. We have seen the price stay above this mark for some time now. As I keep reiterating, bitcoin is a new technology with lots of new potential. Once an innovated application is developed from the blockchain technology, we will see a big change in price.
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Signatures? How about learning a skill... I don't care either way. Everybody has to make a living somehow.
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mrhelpful
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August 20, 2015, 03:49:45 AM |
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What now, fart?
now wait the bottom and buy for a huge profit the question then becomes is when is the bottom? lol. I never really question that there is a real bottom, unless it did hit $2 range for a horrific reason. But its based on the persons choice of really what they feel is cheap then hoping and waiting for it. |
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talkbitcoin
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All I know is that I know nothing.
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August 20, 2015, 04:15:50 AM |
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so much fear in the market at the moment!!!
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mrhelpful
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August 20, 2015, 04:34:46 AM |
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so much fear in the market at the moment!!!
just hold despite the market value right now. i mean if you see it people, most people arent over reacting about it since bitfnex was based on insider activity as people assume. |
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GotaPauj
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August 20, 2015, 10:32:12 AM |
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I don't think the price of bitcoin is ever going to sink below $200 again. We have seen the price stay above this mark for some time now. As I keep reiterating, bitcoin is a new technology with lots of new potential. Once an innovated application is developed from the blockchain technology, we will see a big change in price.
I think we are tired about the bitcoin price falling so down like these days to 200s, i really like to be in 300s |
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Brewins
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August 20, 2015, 12:53:03 PM |
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so much fear in the market at the moment!!!
be udacious when people are full of fear, that's your only chance of getting huge profits (everyone know the warren buffet citation about fear and blood) |
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btcjoin14
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August 20, 2015, 04:00:28 PM |
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those so called Crashes are baby steps and setbacks of Bitcoin.
Don't worry Bitcoin belongs to the trillions.
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techgeek
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August 20, 2015, 04:08:02 PM |
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those so called Crashes are baby steps and setbacks of Bitcoin.
Don't worry Bitcoin belongs to the trillions.
Most people dont see it that way, people just react to see whats in front of them which is the "now". Rather then the baby steps, and its already proven that ever since the last huge crash when mt.gox did their manipulation it still recovered to the real price most people feel. |
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