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Author Topic: What`s going on with the price?  (Read 4636 times)
Apolo29
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June 11, 2011, 02:54:55 PM
 #1

Btc is going crazy, prices go up and down incredibly fast, what`s going on?
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June 11, 2011, 02:55:54 PM
 #2

Isn't this the normal weekend behavior?

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bcearl
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June 11, 2011, 02:57:02 PM
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It's weekend and the old banks don't perfom wire transfers.

So there are only very few transactions, and those few produce a lot of noise.

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Mark Oates
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June 11, 2011, 02:58:15 PM
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Quote
Isn't this the normal weekend behavior?
FTFY  Wink
hugolp
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June 11, 2011, 02:58:53 PM
 #5

No, its not normal. Its actually a very fun weeked Cheesy
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June 11, 2011, 03:00:38 PM
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Do you think it's also stirred by all the new press?
Findeton
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June 11, 2011, 03:00:58 PM
 #7

Well price trend is down right now. You could use it to buy some cheap bitcoins. maybe if you wait till tomorrow you'll find it cheaper even.

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pengfield
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June 11, 2011, 03:23:39 PM
 #8

I just think some people want their hard cash. The price has to come when they sell so it's a great time to buy  Smiley

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bitoption
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June 11, 2011, 03:34:58 PM
 #9

I'm supposed to be programming, but I couldn't resist buying at 14. .. We'll see what sunday holds!

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June 11, 2011, 03:46:15 PM
 #10

BTC's are a commodity, so prices will fluctuate.

Regular stock type exchanges and banks are closed on weekends, so a handful of trades are all that MTGOX has to go from to set trends.

It might not be a bad idea to buy when they are down to half the price they were on Friday, since all regular financial institutions will be ready for business

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mjsbuddha
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June 11, 2011, 03:50:46 PM
 #11

price is still higher then it was 5 days ago. everyone chill
Jaime Frontero
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June 11, 2011, 03:54:34 PM
 #12

I'm supposed to be programming, but I couldn't resist buying at 14. .. We'll see what sunday holds!

nice buy!

i think you timed it close to perfect.

i was asleep.  Cry
Dude65535
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June 11, 2011, 04:01:45 PM
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I am not worried. The 24h trading volume is still very high.

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Gregers
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June 11, 2011, 04:02:55 PM
 #14

Price trend has been down for long time it seems like, or did I screw up the graph? Sad I don't want this to end now, I just bought my first coins Sad

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June 11, 2011, 04:09:24 PM
 #15

ITT: People who have no idea how markets work, but came here after reading mainstream media and thought they could print money.

A lot of you should invest in CD's or just regular savings accounts with a set interest rate, so you're guaranteed a return on your investment. With BTC, just like stocks, you could wake up tomorrow a millionaire or flat broke. It's the risk you take playing the markets.
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June 11, 2011, 04:11:45 PM
 #16

Guess the people who bought at the upper 20s were the greater fools of this economy.

Not really because when price goes back up beyond $31 they'll be OK.

The insanely high price swing (coming from a traditional trading point of view) no doubt has scared quite a few people. And by price swing I mean downwards.

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June 11, 2011, 04:21:34 PM
 #17

"SELL!" *CRASH* "BUY!" "SELL" *HARDER CRASH*

Guess the greater fool principle of these pyramid scheming debt bubbles works on the way down too.

Just wait until Monday before you come to any illuminating grand conclusions worthy of the golden hindsight award.


Findeton
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June 11, 2011, 04:22:18 PM
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"SELL!" *CRASH* "BUY!" "SELL" *HARDER CRASH*

Guess the greater fool principle of these pyramid scheming debt bubbles works on the way down too.

I guess you won't be joking about bitcoin in a month. And you'll surely be crying in a year.

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June 11, 2011, 04:24:16 PM
 #19

An early adopter cashed out 17K+ BTC all at once, driving price down from 20 to 13. It's back up to 18+ now.

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June 11, 2011, 04:29:31 PM
 #20

I wonder how much of this is from Tradehill? I thought I read they had 1500 accounts their first day. Did people move a lot of BTC to those accounts or something?

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