another big sell-off this weekend?

[empoweoqwj]

The signs are there for a big sell-off / profit take for this weekend?

a) Big price rise during the week
b) Banks shut from Friday to Monday so not much money coming in

Any counter-indications to say we aren't going to suddenly plummet Friday night or Saturday again? Only to "mysteriously" recover all losses by next Tuesday?

Last week I tried to sell off 10% of my holdings early into the panic selling, but the order didn't fulfil so I canceled it, and prices were back to pre-panic levels by Monday.

This week .... who knows. What I do know is if the price drops start to drop, you have to sell early if you are going to stay on the right side of the trade.

[tutkarz]

Or maybe person who did that lost enough money to not try it again

[AKH]

Let's see how we go!
Could be going pretty much either way at this stage.

[empoweoqwj]

Or maybe person who did that lost enough money to not try it again

Depends how clever they were, if they exist ... If you are clever enough to start the panic selling and keep the selling momentum going at key thresholds, then buy all back at $52 - $55, you won't be losing money, you will be making lots while of the rest of us saps lose lots.

[Stephen Gornick]

b) Banks shut from Friday to Monday so not much money coming in

That is only for ECB banks and a few other countries.  Nearly all banks in the U.S., Japan, etc. do not close for Easter.

But a four day weekend for these banks in the EU where much of the recent surge has apparently originated could be the removal of support that is helping to keep the exchange rate this high, and then a resulting drop from those looking to lock in their gains (as there's no guarantee there is a rebound after a selloff.)

[tutkarz]

Maybe more people are saving money for that weekend to buy cheaper.

[empoweoqwj]

Maybe more people are saving money for that weekend to buy cheaper.

That would be brave. Sitting on the sidelines whilst the price is jumping 5% to 10% daily. Bitstamp is just about to hit $90 ....

[MaraC]

I'm thinking.. how high can it goes??? I mean in the short term until it stabilizes in prize?..

[cr00k]

i want to buy in soon. i just dont know when.. i told myself at 75 dollars that it will drop and ill buy in then.. but it has not dropped at all and im kicking myself in the ass because now its well over 80 dollars! this is crazy!

[tutkarz]

I see most people dont know what value bitcoin has. My estimate is $1000 (for now) and i wont sell it cheaper. Period

[crazyfingers]

I see most people dont know what value bitcoin has. My estimate is $1000 (for now) and i wont sell it cheaper. Period

This seems to be the problem with BTC's viability as a currency, at least in the short run.  I know all else being equal I'd rather part with moribund greenbacks than a rapidly appreciating asset like BTC. Just like I have no intention of spending my gold and silver bullion anytime soon as long as I have enough FRNs to meet my needs.

[Vladimir]

Bitcoin is just bootstrapping itself. Rome was not built in one day either. Give it some time and I mean years and decades, not days and weeks.

Meanwhile, consider placing some lowball bids for the weekend. You never know some noobs might panic and dump their coins into shallow market again.

[nfhoward]

i want to buy in soon. i just dont know when.. i told myself at 75 dollars that it will drop and ill buy in then.. but it has not dropped at all and im kicking myself in the ass because now its well over 80 dollars! this is crazy!

Honestly watch the price for a day and buy in when it dips the lowest. This weekend you might lose a little money, but over the next month you're guaranteed to start making some serious cash.

[cr00k]

i want to buy in soon. i just dont know when.. i told myself at 75 dollars that it will drop and ill buy in then.. but it has not dropped at all and im kicking myself in the ass because now its well over 80 dollars! this is crazy!

Honestly watch the price for a day and buy in when it dips the lowest. This weekend you might lose a little money, but over the next month you're guaranteed to start making some serious cash.

i just loaded 300 usd into my bitfloor account, im thinking of holding off to this weekend and buying went it hits a low... we'll see im completely new to this and have yet to the pull the trigger and hopefully this week/weekend ill take the plunge 

[empoweoqwj]

Personally, and this is just me, I wouldn't wait, purely on the basis that most people sees bitcoin value hitting $100 to $500 over the next year. If you believe that scenario, there is no point in waiting. If you don't stick the cash in  now, you aren't going to put any in once it breaks $100. I've been putting my cash in since a couple of weeks ago when bitcoins were hitting a record high of $45. Looking cheap now right? $85 will look cheap in a couple of months time.

[cr00k]

Personally, and this is just me, I wouldn't wait, purely on the basis that most people sees bitcoin value hitting $100 to $500 over the next year. If you believe that scenario, there is no point in waiting. If you don't stick the cash in  now, you aren't going to put any in once it breaks $100. I've been putting my cash in since a couple of weeks ago when bitcoins were hitting a record high of $45. Looking cheap now right? $85 will look cheap in a couple of months time.

you have a very good point, i just invested half of what i deposited into my bitfloor account. i officially own 1.6 BTCs !