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Author Topic: We are down again?  (Read 17449 times)
jacee
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November 04, 2015, 11:11:46 PM
 #1

We fall down from $500 just a while ago and when I last checked we are like in $385 .
I have a question here, I am not really good at bitcoin so I just want some explanations or something like that.
Will the price continue to fall or will it bounce again?
Is $500 the new ATH now?
What is causing this?
Does this mean the end of the bull?
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November 04, 2015, 11:13:26 PM
 #2

Wow you really are new!! You have a lot of homework to do!
zimmah
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November 04, 2015, 11:21:38 PM
 #3

We fall down from $500 just a while ago and when I last checked we are like in $385 .
I have a question here, I am not really good at bitcoin so I just want some explanations or something like that.
Will the price continue to fall or will it bounce again?


No one knows for sure

Is $500 the new ATH now?

No, ATH means all-time high. So it is the highest value it has ever been, which is something like $1244, it will always be $1244 until it breaks a price higher than $1244

It's just the most recent high

What is causing this?

No one knows.

a whale cashing out?

Shaking out weak hands?

something else?

Does this mean the end of the bull?




No one knows for sure, but I doubt it.
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November 04, 2015, 11:23:29 PM
 #4

We are not down again. Down was sub 300. We are still strong, and its 400 now btw if you haven't checked. 500 pump was just a few hoiurs thingafter that was probable.

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November 04, 2015, 11:24:10 PM
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Wow you really are new!! You have a lot of homework to do!

That:s why I ask bro. I need to learn it's not like I want to stay using bitcoin and know nothing about whatever is going on. Cheesy
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November 04, 2015, 11:47:31 PM
 #6

Wow you really are new!! You have a lot of homework to do!

That:s why I ask bro. I need to learn it's not like I want to stay using bitcoin and know nothing about whatever is going on. Cheesy
good article on Coindesk,without hype,fud,speculation news, http://www.coindesk.com/wedbush-revises-12-month-bitcoin-price-target-to-600/

Wedbush is predicting 600$ in 2016,In june thay predicted 400$ level in November,so stay cool


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November 04, 2015, 11:56:59 PM
 #7

Wow you really are new!! You have a lot of homework to do!

That:s why I ask bro. I need to learn it's not like I want to stay using bitcoin and know nothing about whatever is going on. Cheesy
good article on Coindesk,without hype,fud,speculation news, http://www.coindesk.com/wedbush-revises-12-month-bitcoin-price-target-to-600/

Wedbush is predicting 600$ in 2016,In june thay predicted 400$ level in November,so stay cool
600$ in 2016 will probably make sense specially because of the halving happening around then. But I was surprised of the recent rise right now. Does the article describe why the rise in November ?

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November 05, 2015, 12:27:29 AM
 #8

Hopefully this is just a temporary crash, and the price will be back up few days later Wink
If this price keep going on like this i hope sig campaigns want to raise their rate again after being dropped yesterday Roll Eyes

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November 05, 2015, 12:33:36 AM
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Hopefully this is just a temporary crash, and the price will be back up few days later Wink
If this price keep going on like this i hope sig campaigns want to raise their rate again after being dropped yesterday Roll Eyes
There wasn't a clear reason for price to rise in the first reason, so a drop isn't very surprising, however the one day thing was.

THe price should anyways rise in the following months, specially due to halving happening soon.

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November 05, 2015, 12:42:06 AM
 #10

600$ in 2016 will probably make sense specially because of the halving happening around then. But I was surprised of the recent rise right now. Does the article describe why the rise in November ?

Two theories abound.

But first, the fact of the matter is that the price action is being driven by action on the CNY exchanges. Western exchanges sell off hard, but China keeps on buying. Even now, after that brutal correction on USD exchanges, China is some $60 beyond the USD exchange price (I would have surely thought that someone somewhere would be in the position to arbitrage such a massive gap).

There are two theories as to why the buying pressure from China is so unrelenting.


1) Investors disenchanted with the stock markets, are moving towards Bitcoin, and also using Bitcoin as a way of getting their wealth out of CNY, which 'protects' them from any further government devaluations of their currency and also allows them to easily circumnavigate stringent Chinese capital controls.

2) Some Russian conman is operating a Ponzi scheme offering 20% per month interest payments, for which he requires payment in Bitcoin (to enter into the scheme).


The likelihood is, that Bitcoin is being subject to yet more carefully and centraly orchestrated pumping and dumping. Market cap is still very small, and with the memories of the astronomical gains of past Bull runs (all of them fraudulent to some degree imo), I think that Bitcoin is a market where people might be persuaded to take leave of their senses and their ideas about how markets (normally) function. Question is, how high can the next manipulated bull run go? If I were a venture capitalist cowboy market manipulator, I would imagine that Bitcoin could be easily ramped to around $2000, before I took a great big dirty dump on the market and left the unsuspecting stampeding proles holding the bag.

Question is, is this the start of a new mega-pump?

With an undisputed bottom having been reached, and a period of excruciating trending in $200 range behind us, I think it could well be. Like I said, if I was a pump n dumper, why leave it at $500 when you know that Bitcoin rising up and taking out it's ATH of $1200 is in many investors heads, simply a matter of time? A matter of when, not if?


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November 05, 2015, 01:15:51 AM
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November 05, 2015, 01:41:14 AM
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600$ in 2016 will probably make sense specially because of the halving happening around then. But I was surprised of the recent rise right now. Does the article describe why the rise in November ?

1) Investors disenchanted with the stock markets, are moving towards Bitcoin, and also using Bitcoin as a way of getting their wealth out of CNY, which 'protects' them from any further government devaluations of their currency and also allows them to easily circumnavigate stringent Chinese capital controls.

2) Some Russian conman is operating a Ponzi scheme offering 20% per month interest payments, for which he requires payment in Bitcoin (to enter into the scheme).





If its 1. , then they might cashout at some point for sure, causing a massive dump.

if its 2. , then the ponzi owner himself might cashout big time along with the participants causing another potential dump. Either way I see a dump incoming.

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November 05, 2015, 02:04:22 AM
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The Roller coaster is back !  Cool

The price skyrocketed to 500$, so people unloaded and dumped hard. It seems to be ending though and it's back up.
But I think we've discovered a strong resistance at ~500$.
Yesterday, I had nothing to do at my job so I tried bitcoin trading in JPY, kinda funny when you win, 50$ made.

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November 05, 2015, 02:33:57 AM
 #14

I guess i was right, this is just a temporary crash, the price on preev is back on 430 while xapo touches 434 Wink
Should be back at 450 soon if no more dump happening Smiley

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November 05, 2015, 02:42:22 AM
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Hopefully this is just a temporary crash, and the price will be back up few days later Wink
If this price keep going on like this i hope sig campaigns want to raise their rate again after being dropped yesterday Roll Eyes
There wasn't a clear reason for price to rise in the first reason, so a drop isn't very surprising, however the one day thing was.

THe price should anyways rise in the following months, specially due to halving happening soon.

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November 05, 2015, 03:22:06 AM
 #16

i just saw the price at CoinDesk and it's back again to $444 and i think the bitcoin price will reach to $500 again today

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November 05, 2015, 03:25:23 AM
 #17

I guess i was right, this is just a temporary crash, the price on preev is back on 430 while xapo touches 434 Wink
Should be back at 450 soon if no more dump happening Smiley


Yes even though price is back to around 440 range but I still feel there will be some more correction because this bull run is without any proper reason. Also now we are almost 100% jump from last month price. I don't think this prices will survive in this range for long time but if the price stabilize at this level for next few days or a week then this is real run up.
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November 05, 2015, 03:35:03 AM
 #18

Wow you really are new!! You have a lot of homework to do!

That:s why I ask bro. I need to learn it's not like I want to stay using bitcoin and know nothing about whatever is going on. Cheesy
good article on Coindesk,without hype,fud,speculation news, http://www.coindesk.com/wedbush-revises-12-month-bitcoin-price-target-to-600/

Wedbush is predicting 600$ in 2016,In june thay predicted 400$ level in November,so stay cool

$600 in 2016?
Is that all? Just watch, a few more big up days and you will see predictions of $5,000 to $6,000+ in 2016.  Smiley

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November 05, 2015, 04:02:07 AM
 #19

i just saw the price at CoinDesk and it's back again to $444 and i think the bitcoin price will reach to $500 again today

Yeah. I think the increase last night just went too fast, but if it doesn't bounce back up I think it'll stay stable at $380+ for a while before it goes any lower.

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November 05, 2015, 04:17:23 AM
 #20

seems price goes down after reach 500 and now going down maybe can drop under 400$ this evening  Sad

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