BTC CRASH 23/03

[desired_username]

For somebody who has traded regularly in other markets, the thing that worries me most about the Bitcoin market today is that everyone in this forum is still so dang enthusiastic to just buy every dip. Makes me wonder whether another big shakeout is due in the near future so some real enduring pain is felt again. That could happen tomorrow, or it might not be till price spikes over $100. But it just feels it has to happen, and when it does, I suspect many of the convictions expressed in this forum will be severely tested. That's not a criticism of anyone here, it's just the way markets work. So expect the unexpected.

Having experience in other trading fields are somewhat useless here. BTC trading is quite different to forex for example.

[Kato]

For somebody who has traded regularly in other markets, the thing that worries me most about the Bitcoin market today is that everyone in this forum is still so dang enthusiastic to just buy every dip. Makes me wonder whether another big shakeout is due in the near future so some real enduring pain is felt again. That could happen tomorrow, or it might not be till price spikes over $100. But it just feels it has to happen, and when it does, I suspect many of the convictions expressed in this forum will be severely tested. That's not a criticism of anyone here, it's just the way markets work. So expect the unexpected.

Having experience in other trading fields are somewhat useless here. BTC trading is quite different to forex for example.

Yes I know. It's different this time. 

[over1977v]

If you hold your coins you will make more money over the long haul.

Or lose it all. Roll the dices

[kintex_wibble]

Long term graph looks like it's bubbling, start thinking about shorting...

[surya]

Got lots of grey hairs because of this.

[umaOuma]

Its bubling beause lots of noobs panic buying.

I wonder what will happen when the hoards of noobs stops comming in

[Gabi]

Excuse me, where is the crash? I can't seem to find it, price right now is 68

[dulf]

BTC seems to be back and stronger than before!

[ABitBack]

This kind of days make me realize how mentally hard is to be a trader of any currency or stocks..

Yes, I can certainly see that. The moment I sold my BTC at $50, the price jumped to $58 almost instantly, which was very frustrating to watch:



I would probably have been banging my head against a wall if I had been trading thousands of dollars.

You should have known $50 is a peak price. It will peak before it drops another $10 increment.

[Skami]

LOL, that's not a crash.  That's a small, short dip in the exchange.  John is right, that was a buying opportunity.

My thoughts exactly.

[ManBearPig]

I cashed out on the way down and just failed to get a buy filled at 53.7 then watched it bounce back above my exit point

My own fault! I'm leaving a stash in another wallet long-term and using what I have on MtGox just to trade.

Which I do badly, mostly. But it's fun

[MIST514]

Made me more money...I bought so cheap. As mentioned in prevous posts....some boss sold his btc and became a millionaire so it dropped. Impossible for everyone to worry when you can buy at so cheap LOL