Does will bitcoin repeat a WONDERFUL big drop? No it does't.

[chesthing]

Poopy you are really gullible to believe this "hack" story, and this shit is heading down, short term at least.

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[UngratefulTony]

So many people here don't think this bitfinex disaster - and it IS a disaster - will have a serious impact on near future bitcoin prices. The question is how could it not? Is this some serious denial in play or am I missing something?  

but it is not a disaster, at least not as bad as you want to show it. people are trading 100-300K bitcoin everyday how can one 120K hack be a disaster for bitcoin price and this volume is without the 500K bitcoin that is being traded on Chinese exchanges alone.

It's this kind of unfbounded optimism you just can't find in any other investment scheme. The ads for mixers, dice, and binary options are just the icing on the cake.

i don't see what my signature has to do with anything that i said!
but apart from that, are you trying to say that since a third party exchange service was hacked, now bitcoin is doomed?
and you do realize that this was not the first time an exchange was hacked and will not be the last.

i am not claiming to predict the future or say anything about the price in the future. i am talking with facts that has happened:
1) every day the trade volume is between 100K and 300K bitcoin and also Chinese exchanges have a lot more volume. OkCoin had 718K BTC volume now compare that with a one time 120KBTC hack
2) the disaster was a drop from $600 to $480 because of panic and also whales using this situation to dump more and this "disaster" lasted less than a day before price jumped back to $550 and slowly worked its way up to $580

Probably a tangential observation, again, the icing, not the cake proper!
I'm not trying anything, I said what I meant.
I am aware of what happened to the nominal (tp scrip) price of Bitcoin following the last hack of the USD reference exchange.

1) Funny thing about volume these days... it's mostly trade in shitcoins:

These competitors... that aren't hobbled with 3.7 tps... are salivating at picking up the remains of Blockstream's failed experiment in economic central planning (to prevent war ofc!).
The fact that you repeatedly cite CNY volume as meaningful means our little chat now ends...

[MingLee]

Poopy you are really gullible to believe this "hack" story, and this shit is heading down, short term at least.

Short term it is definitely heading downwards, there's no doubt about that. The inside job or hack, whatever you want to believe it is, was definitely enough to move the markets downwards and now they are going to stay down for a little while. If the market does start going back up it'll go back up in a noticeable way, and probably more than a slow trickle over a period of time.

[pooya87]

~~
1) Funny thing about volume these days... it's mostly trade in shitcoins:

These competitors... that aren't hobbled with 3.7 tps... are salivating at picking up the remains of Blockstream's failed experiment in economic central planning (to prevent war ofc!).
The fact that you repeatedly cite CNY volume as meaningful means our little chat now ends...

it is indeed funny how you are looking in the wrong place for comparing volume:


besides, you would be a fool to believe ethereum volume is real. it would be like Satoshi owning 10 million out of 15.8 mil current bitcoin and controlled the price like what Vitalik and his disciples are doing with ETH by owning nearly all the eth available.

[UngratefulTony]

~~
1) Funny thing about volume these days... it's mostly trade in shitcoins:

These competitors... that aren't hobbled with 3.7 tps... are salivating at picking up the remains of Blockstream's failed experiment in economic central planning (to prevent war ofc!).
The fact that you repeatedly cite CNY volume as meaningful means our little chat now ends...

it is indeed funny how you are looking in the wrong place for comparing volume:


besides, you would be a fool to believe ethereum volume is real. it would be like Satoshi owning 10 million out of 15.8 mil current bitcoin and controlled the price like what Vitalik and his disciples are doing with ETH by owning nearly all the eth available.

Click that $88,091,000.... I dare you.

[Amph]

Poopy you are really gullible to believe this "hack" story, and this shit is heading down, short term at least.

uh it's a fact, bitfinex was hacked, there was dump or at least panic dump(even if he did not dump anything he caused a panic sell)

if bitfinex "hacked itself" the point does not matter, this is what caused the price decline, there is no bear run...

[MatTheCat]

yeah it is a terrible thing to happen, when you see a big exchange with mad volumes get hacked.

but it is not a disaster, at least not as bad as you want to show it. people are trading 100-300K bitcoin everyday how can one 120K hack be a disaster for bitcoin price and this volume is without the 500K bitcoin that is being traded on Chinese exchanges alone.

Ridiculous argument.

How much of those Bitcoin traded are simply the same BTC going backwards and forwards, especially on the Chinese exchanges...

...this was 120K, take out of the major Bitcoin exchange's wallet, and in turn, thee major global Bitcoin exchange made sure every single one of it's customers took a hit for it. I have lost, 2-3 times what I made trading Bitcoin over the past 3-4 months. I shan't be touching BTC with a 10ft dogshit covered bargepole ever again and literally thousands of others will be feeling the same way.

The exchanges cannot be trusted. Simple as that, and having any significant amount of money on them is a game of Russian roullette, and all for what? For a financial asset that has been pounded into the ground by the performance of many conventional stocks this year, and last year, and the year before....etc...

[pooya87]

yeah it is a terrible thing to happen, when you see a big exchange with mad volumes get hacked.

but it is not a disaster, at least not as bad as you want to show it. people are trading 100-300K bitcoin everyday how can one 120K hack be a disaster for bitcoin price and this volume is without the 500K bitcoin that is being traded on Chinese exchanges alone.

Ridiculous argument.

How much of those Bitcoin traded are simply the same BTC going backwards and forwards, especially on the Chinese exchanges...

...this was 120K, take out of the major Bitcoin exchange's wallet, and in turn, thee major global Bitcoin exchange made sure every single one of it's customers took a hit for it. I have lost, 2-3 times what I made trading Bitcoin over the past 3-4 months. I shan't be touching BTC with a 10ft dogshit covered bargepole ever again and literally thousands of others will be feeling the same way.

The exchanges cannot be trusted. Simple as that, and having any significant amount of money on them is a game of Russian roullette, and all for what? For a financial asset that has been pounded into the ground by the performance of many conventional stocks this year, and last year, and the year before....etc...

you say this as if i was defending them, no those fu**ers stole my money too, i also lost my BTC.

i am saying it is not a "disaster" because most of all the hacker is not going to dump 120K in one place at one time. if the hackers wants to sell it then he will do it slowly and with smaller amounts that market never even feels it. besides they will not dump it publicly on an exchange, it will probably go down off sites.

[CloudStrife]

That's probably true, it is really hard for something like this happen again. But that's crypto, a lot of things still may occur. However, lately we are seeing some significant resistance against another big drop. In such a scenario, it becomes risky to speculate to buy back later.

[Zadicar]

yeah it is a terrible thing to happen, when you see a big exchange with mad volumes get hacked.

but it is not a disaster, at least not as bad as you want to show it. people are trading 100-300K bitcoin everyday how can one 120K hack be a disaster for bitcoin price and this volume is without the 500K bitcoin that is being traded on Chinese exchanges alone.

Ridiculous argument.

How much of those Bitcoin traded are simply the same BTC going backwards and forwards, especially on the Chinese exchanges...

...this was 120K, take out of the major Bitcoin exchange's wallet, and in turn, thee major global Bitcoin exchange made sure every single one of it's customers took a hit for it. I have lost, 2-3 times what I made trading Bitcoin over the past 3-4 months. I shan't be touching BTC with a 10ft dogshit covered bargepole ever again and literally thousands of others will be feeling the same way.

The exchanges cannot be trusted. Simple as that, and having any significant amount of money on them is a game of Russian roullette, and all for what? For a financial asset that has been pounded into the ground by the performance of many conventional stocks this year, and last year, and the year before....etc...

you say this as if i was defending them, no those fu**ers stole my money too, i also lost my BTC.

i am saying it is not a "disaster" because most of all the hacker is not going to dump 120K in one place at one time. if the hackers wants to sell it then he will do it slowly and with smaller amounts that market never even feels it. besides they will not dump it publicly on an exchange, it will probably go down off sites.

They are not dumb enough to dump those all coins  in a single transaction for sure they would took down exchange sites.  For me  its  still a disaster since it really affect the bitcoins price  dump a little bit. We cant  trully   trust  exchanging sites  since i have a suspicion that those hacked incident would have a possibility on inside job.

[GermanFoobla]

No, i don't think that Bitcoin will drop again to this price (200$), nowadays it's about 600$ and it's expected that the price will increase soon.

I do not want the Bitcoin to drop again because then all of my waiting has been somewhat for nothing. I only want the pirce to rise at the moment and after I have sold it can drop again.
Then I can buy more Bitcoin with the profit that I would make then.

[Junko]

I expect the price to continue trending up overall, however, if it does take a drastic nose dive down to $200 or whatever, I will happily buy as much as I can. Having been in for the long haul before, now and for the future, big dips are just opportunities to add on to my hodlings.

[tee-rex]

i am saying it is not a "disaster" because most of all the hacker is not going to dump 120K in one place at one time. if the hackers wants to sell it then he will do it slowly and with smaller amounts that market never even feels it. besides they will not dump it publicly on an exchange, it will probably go down off sites.

The devious hackers had probably sold huge amounts of bitcoins even before they stole them. Nowadays it is possible to trade on margin, you can sell bitcoins even if you don't have them. The price went vertically down on the eve of the theft, just two days before Bitfinex got hacked. For that reason alone, they didn't have to sell the stolen bitcoins at all. The hackers could use the spoil to cover their short positions which they had wisely opened right before the hack.

[youhgt2]

i am hopeful that it will never happen in future, hope that the price of bitcoin will remain stale and will not decrease any more, although there may be some correction in the price of bitcoin but we cannot consider it as a high drop,

[JimboToronto]

I personally don't consider big drops "wonderful". While I appreciate buying opportunities, I'd rather see wonderful big rises.

That said, it seems to me that we've already had our big drops, from $32 to $2, from $266 to less than $60, from over $1100 to less than $200 and from $780 to less than $470 including the Finex hack.

Luckily, the big rises are bigger than the big drops.

While no one can predict the future price, I would hazard to guess that the next big drop won't happen until after we've set a new, substantially higher ATH. A drop back down to high triple digits would then be a "wonderful" big drop and buying opportunity.

[AsaroUk]

We cannot of course predict the future but I think that it cannot drop a lot more these days, it can maybe drop a little bit but this would not be a problem we would get more buyers due to this.
Big drops are out of the eye sights if you are asking me.

[pitham1]

I personally don't consider big drops "wonderful". While I appreciate buying opportunities, I'd rather see wonderful big rises.

That said, it seems to me that we've already had our big drops, from $32 to $2, from $266 to less than $60, from over $1100 to less than $200 and from $780 to less than $470 including the Finex hack.

Luckily, the big rises are bigger than the big drops.

While no one can predict the future price, I would hazard to guess that the next big drop won't happen until after we've set a new, substantially higher ATH. A drop back down to high triple digits would then be a "wonderful" big drop and buying opportunity.

The $780 to $470 hardly seems to be a big fall, in the larger scheme of things. Given the tepid price movements in the last few years, we seem to be due for ATH. Quantitative Easing has pushed most assets to the moon.... why not Bitcoin?

[Hugroll]

the price is definitely not going to drop, i think it should grow fast right now

well its around 640 now and been here for around 12 hours. im not sure if its going to go any higher anytime soon. hopefully it doesnt drop below 600 again. anything around 630 is good enough for me.

[satdas]

no i do not think that any thing like that is going to happen, hope that bitcoin will continue its journey to increase will continue and hope that this time bitcoin is going to crsoo 1200 USD leve in flat movement.

[PsursV]

yes and i am also hoping so that we will never see such a big drop in the price of bitcoin again, although there most be some downfall in the price but in a limit, and the market of bitcoin will never crash.