A correction is happening.

[Richy_T]

Glad it came back down. I'd rather have it be where it's supposed to, than hovering around in a possible bubble state, no one knowing when it will pop.

+1. Stability is what is needed. Steady as she grows...

[1715494451]

1715494451

[1715494451]

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[1715494451]

1715494451

[XxionxX]

Watching mtgox live now is more exciting than live sports.

Yeah, down from $19 to $15.6X, and now back up to 17.30 again!? Roller coaster ride!

[minorman]

Nothing ever goes straight up (or down). Its always a sawtooth.
The huge dump down in the 15.xx level on mtGox today is a really, really, healthy sign IMhO.

[cypherdoc]

Nothing ever goes straight up (or down). Its always a sawtooth.
The huge dump down in the 15.xx level on mtGox today is a really, really, healthy sign IMhO.

very true.  the bull tries to buck off as many as it can on the way up.

[twolifeinexile]

Nothing ever goes straight up (or down). Its always a sawtooth.
The huge dump down in the 15.xx level on mtGox today is a really, really, healthy sign IMhO.

Could you elaborate? Why

[mb300sd]

Nothing ever goes straight up (or down). Its always a sawtooth.
The huge dump down in the 15.xx level on mtGox today is a really, really, healthy sign IMhO.

very true.  the bull tries to buck off as many as it can on the way up.

http://youtu.be/aA9kW2u0ZAQ

[Cluster2k]

It was about time too.  Rising more than 10% per day, every day was all the signs of a bubble waiting to pop.  Traders letting hubris get in the way of sound judgment.  Buying simply because other people are buying.  Exciting ride none the less.

[goldlyre]

I think it'll be back up.

As the price rises, tons of people come out of the woodwork and say "damn, I was thinking of buying bitcoins when they were cheap and I really missed out.  If it goes back down a bit, I'm interested in some coins."   (they say this directly to me, e.g. facebook, text messages, etc. and I think it's fair to say it's systemic and worldwide.)

Now the price retreats a bit, and these same people are saying, "OK, it's on its way down, it's probably not going to go any lower than $13 since it sat there for so long, so now's my best chance."  They're gathering their funds right now and figuring out how to get them into bitcoins.

All their funds show up over the next week or two, they buy and hold coins.  The price goes up and stays there.

Hi Mike, please have a look at this - https://bitcointalk.org/index.php?topic=137912.0

[jl2012]

I think it'll be back up.

As the price rises, tons of people come out of the woodwork and say "damn, I was thinking of buying bitcoins when they were cheap and I really missed out.  If it goes back down a bit, I'm interested in some coins."   (they say this directly to me, e.g. facebook, text messages, etc. and I think it's fair to say it's systemic and worldwide.)

Now the price retreats a bit, and these same people are saying, "OK, it's on its way down, it's probably not going to go any lower than $13 since it sat there for so long, so now's my best chance."  They're gathering their funds right now and figuring out how to get them into bitcoins.

All their funds show up over the next week or two, they buy and hold coins.  The price goes up and stays there.

Hi Mike, please have a look at this - https://bitcointalk.org/index.php?topic=137912.0

You'd better use PM or have a new post in an appropriate section

[johnyj]

It's fun to look at the price movement, it shows the market is still very low on liquidity, but people's psychology has changed, many people want to buy at $12 level, I think one year ago many people wanted to buy at $5 level