Buying Opportunity

[cypherdoc]

the Forum has been inundated with trolls probably from the Street who are desperately trying to get their hands on bitcoin.  you can tell this by the pronouncements of doom and gloom from these people.  as the stock market plummets, these punks are looking for the next bull market to rotate into and its bitcoin.  but they need to get you to sell to them so don't let it happen.  we are going back up and soon.

[pwnyboy]

No shit.  I was describing this very thing to someone knowledgable in finance, who recently learned of bitcoins (and is now invested heavily).  I told him how bitcoins rose to $9 about 3 weeks ago, then started slipping back to 8, then to 7, stagnated, then slipped even further to like $5.20.  It was all based on miner sentiment apparently, because I was one of the ones who sold off during the slip.  I didn't want all of my effort to be worth $0.  So of course this led me to the conclusion that the market is controlled completely by miners, who are mostly dumb kids with free power in mom's basement or a dorm room, irrationally reinvesting most of their money into mining ("to combat difficulty rises" is the excuse often used), and then irrationally selling off.  While it might've been rational to sell off during the aforementioned slip in the market, the current selloffs are just foolish.  Sadly, the market seems to be dominated by said fools.  *sigh*

[billyjoeallen]

That's probably true, but who sold their Bitcoins today? Somebody with a lot of them sold. The lemmings still needed a catalyst to panic (mixing metaphors, I know).

Why did they sell? just to buy them back at a lower price? How did they know they could move the market?

who sold? why?
We don't know and there is fear of the unknown. Nobody said being a pioneer would be easy.

[cypherdoc]

That's probably true, but who sold their Bitcoins today? Somebody with a lot of them sold. The lemmings still needed a catalyst to panic (mixing metaphors, I know).

Why did they sell? just to buy them back at a lower price? How did they know they could move the market?

who sold? why?
We don't know and there is fear of the unknown. Nobody said being a pioneer would be easy.

its just the natural ebb and flow of sentiment.  parabolic ramp with normal correction.   

[billyjoeallen]

That's probably true, but who sold their Bitcoins today? Somebody with a lot of them sold. The lemmings still needed a catalyst to panic (mixing metaphors, I know).

Why did they sell? just to buy them back at a lower price? How did they know they could move the market?

who sold? why?
We don't know and there is fear of the unknown. Nobody said being a pioneer would be easy.

its just the natural ebb and flow of sentiment.  parabolic ramp with normal correction.   

Almost certainly, you are correct. Almost. Macroeconomic factors could come into play. Time will tell.

[Oldminer]

Its just regular 'profit taking'.