Bitcoin Forum
December 14, 2017, 09:12:55 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Has some large dumping started  (Read 2939 times)
samson
Legendary
*
Offline Offline

Activity: 1260


View Profile
March 20, 2013, 06:31:13 AM
 #1

It's hard to get data out of Gox at the moment.

Their regular http API isn't giving out any details, the Clark Moody service isn't working too well and btccharts also appears to be down.

However what I did get out of Clark Moody is on the graph.

In 1 hour intervals we've seen the price change from $60.69 down to $58.00 in the last 3 hours with trade volumes of 1499, 3569 and 2950 for each hour all with red candles.

I'm no good with the technical analysis stuff, is this just a fluctuation or the start of a downtrend or do we just have to wait it out ?

I've got an itchy trigger finger right now.
1513242775
Hero Member
*
Offline Offline

Posts: 1513242775

View Profile Personal Message (Offline)

Ignore
1513242775
Reply with quote  #2

1513242775
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513242775
Hero Member
*
Offline Offline

Posts: 1513242775

View Profile Personal Message (Offline)

Ignore
1513242775
Reply with quote  #2

1513242775
Report to moderator
Minor Miner
Legendary
*
Offline Offline

Activity: 1050



View Profile
March 20, 2013, 06:32:50 AM
 #2

relax.   just wait.   there are tons of BFL people that will need to get BTC to buy batch III from a company that actually ships.   they are sleeping and you are being paranoid.

Bowjob
Sr. Member
****
Offline Offline

Activity: 294



View Profile
March 20, 2013, 06:33:11 AM
 #3

Go ahead. Sell all your coins. Buy higher later.

It seemed like a good idea at the time.
samson
Legendary
*
Offline Offline

Activity: 1260


View Profile
March 20, 2013, 06:36:07 AM
 #4

I'm just getting a little nervous that's all.

Normally when these kind of movements happen I'm not sitting at my computer at the time so this is the first time I've seen it dip like this before.

I fully believe that we will be well into the $60's in a short period of time.
deathcode
Sr. Member
****
Offline Offline

Activity: 392



View Profile
March 20, 2013, 06:38:56 AM
 #5

I'm just getting a little nervous that's all.

Normally when these kind of movements happen I'm not sitting at my computer at the time so this is the first time I've seen it dip like this before.

I fully believe that we will be well into the $60's in a short period of time.
Nervous for what? in January the BTC price was $13... do you really think we'll see anything close to it?
Yesterday the value was $47... we are $11 more now....
what are you nervous about? that it'll go back to $47??

TradeFortress
VIP
Legendary
*
Offline Offline

Activity: 910


View Profile
March 20, 2013, 06:39:52 AM
 #6

We're just seeing resistance at $60.
BitPirate
Full Member
***
Offline Offline

Activity: 238


RMBTB.com: The secure BTC:CNY exchange. 0% fee!


View Profile
March 20, 2013, 06:40:19 AM
 #7

http://bitcoinity.org/markets?currency=USD&exchange=mtgox works OK.


Price in the short-term always goes up and down. The only reason to watch closely is to buy in more at a better price. The price goes down, as that is what everyone is waiting for to buy in again. It's a bull's market -- this time next week it will be up.

Hold or buy, but don't think about selling unless you need the US$...

Melbustus
Legendary
*
Offline Offline

Activity: 1638



View Profile
March 20, 2013, 06:56:31 AM
 #8


I'm no good with the technical analysis stuff, is this just a fluctuation or the start of a downtrend or do we just have to wait it out ?

I've got an itchy trigger finger right now.


Sounds like you should NOT be short-term trading. So look at the fundamentals of bitcoin, decide what you think the "fair" price would be considering your estimation of value in the success case, value in the fail case (if not 0), the probabilities of those cases, and how long from now those might occur. If current price is below your result, buy. If above, sell. (note that this analysis is independent of taking your life's circumstances into account, and how variance might affect your utility and therefore your rational buy/sell decisions).

And yes, there will be lots of guesstimation involved in the above analysis. But that's still much better than what you're doing right now. Few people are able to actually have a long-term statistically significant edge in short-term trading. But many people have a long-term ability to fool themselves into thinking they do.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
oakpacific
Hero Member
*****
Offline Offline

Activity: 798


View Profile
March 20, 2013, 06:57:06 AM
 #9

If you, like me, switch to the bear side for a while and sell a small part of your coins, you will notice how incredible the buying pressure is, and how difficult it's for bears to acheive any sizable progress.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
samson
Legendary
*
Offline Offline

Activity: 1260


View Profile
March 20, 2013, 08:58:56 AM
 #10

You guys are right. I'm moving my BTC off of Gox into a cold storage wallet, this removes a whole level of temptation for me.

If I sell any I know there's a high chance that I will need to buy back in later at a higher price - I've done this before.

However the last time I sold big (for me) a couple of weeks ago I purchased a bunch of Litecoin which enabled me to more than double my money when I sold that off. I suspect this was a one time event though. For now I'm staying put.
phlogistonq
Full Member
***
Offline Offline

Activity: 159


View Profile
March 20, 2013, 09:08:37 AM
 #11

So far, the only occasions I have been able to profit significantly from short term sell and re-buy transactions were immediately after a very, very steep increase. These have so far been followed, nearly always, by a little dip, retracting approx 70% of the increase, only to increase again a little and settle into a new (temporarily) stable price.
This is also the pattern that we followed yesterday, steep increase 47->62 (it unexpectedly filled my sell order at 60.9), then a dip back to 53 (I was expecting 54), then up/down oscilliations with decreasing amplitude to 'settle' around 58.
What you are seeing now are only small volume transactions, the market consolidating and in a little while, perhaps today, but more likely in one or day or two days from now, we will take off again barring seriously bad news.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812


-


View Profile
March 20, 2013, 09:11:46 AM
 #12

I've got an itchy trigger finger right now.

You are probably better off just selling and getting on with your life. If you do not sell now they likely will shake you off along with a bunch of other emotional and weak hands and likely at a lower price too.

-
deathcode
Sr. Member
****
Offline Offline

Activity: 392



View Profile
March 20, 2013, 01:33:34 PM
 #13

Yeah a dumping started alright... people are dumping fiat and buying bitcoin!

mccorvic
Hero Member
*****
Offline Offline

Activity: 518



View Profile
March 20, 2013, 01:45:25 PM
 #14

I'm no good with the technical analysis stuff

Don't worry, no one is good at TA stuff because it's just a bunch of post hoc tea reading.

Anyone who dumps will just see people take the opportunity to buy their cheap coins and spark a mini-rally.

Offering Video/Audio Editing Services since 2011 - https://bitcointalk.org/index.php?topic=77932.0
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
March 20, 2013, 01:55:44 PM
 #15

Don't panic, the price will rise and fall.
RodeoX
Legendary
*
Offline Offline

Activity: 2478


The revolution will be monetized!


View Profile
March 20, 2013, 01:59:37 PM
 #16

Yes, please do panic sell. It will help bitcoin to get the coins away from shaky, speculative hands.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
Mark Oates
Full Member
***
Offline Offline

Activity: 168



View Profile
March 20, 2013, 03:04:50 PM
 #17

So cool. Smiley
thebaron
Sr. Member
****
Offline Offline

Activity: 434



View Profile
March 20, 2013, 03:12:04 PM
 #18

It's not dumping, it's either retarded SR sellers liquidating big chunks at a time at a time or retarded bots.
ehoffman
Sr. Member
****
Offline Offline

Activity: 364


View Profile
March 20, 2013, 03:16:03 PM
 #19

Every dumping result in an equivalent pumping/buying!  Wink

Like my comments?  Cheer me up at 137s1qFV63M6SXWhKkwjaZKEeZX23pq1hw
Don't like my comments, donate to the BCRT (better comment research team) here at 1A1PbZypjEe7yanj69ApVS1FhK8UMW7Wdc Smiley
bzzard
Sr. Member
****
Offline Offline

Activity: 398


View Profile WWW
March 20, 2013, 03:52:33 PM
 #20

and btccharts also appears to be down.
No place thin foil hat here - planned maintenance at my hosting.

BTCCharts.com - still for free!
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!