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Author Topic: So when's the crash?  (Read 10531 times)
Jrock
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April 03, 2013, 03:34:28 AM
 #1

This rate of price increases isn't healthy anymore.

We have quite a few people sitting on over 50K++ Bitcoins that could retire in the click of a button.

All the positivity and bullishness reminds me of the last crash at $32.


So question is, when does the massive cash out happen? I'm no bear...but I'm not delusional either.

A major correction has to happen...right?


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Bowjob
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April 03, 2013, 03:37:15 AM
 #2

This is the crash.... upwards.

It seemed like a good idea at the time.
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April 03, 2013, 03:38:22 AM
 #3

Now.

127 to 122 in minutes. Imagine what will happen in a few hours.

Of course, this "flash crash" is nothing unusual when compared to other "flash crashes" of late. The price will most likely recover again.
Jrock
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April 03, 2013, 03:39:16 AM
 #4

Now.

127 to 122 in minutes. Imagine what will happen in a few hours.

Nah. You'll know it when it happens.

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April 03, 2013, 03:39:46 AM
 #5

We have quite a few people sitting on over $50M++  that could retire in the click of a button.

But honestly, I am kind of nervous as well.

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April 03, 2013, 03:39:59 AM
 #6

Yawn.

Heard this shit before.

lassdas
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April 03, 2013, 03:41:02 AM
 #7

All the positivity and bullishness reminds me of the last crash at $32.
All the negativity and bearishness reminds me of the last increase at $1.

Sure, it "crashed" when it hit those $30, but where did it "crash" to? $2, still an increase of 100%.

It all depends on your POV.

A major correction has to happen...right?
This might be the correction, maybe people realize that Bitcoin is undervalued.
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April 03, 2013, 03:41:41 AM
 #8

This rate of price increases isn't healthy anymore.

We have quite a few people sitting on over 50K++ Bitcoins that could retire in the click of a button.

All the positivity and bullishness reminds me of the last crash at $32.


So question is, when does the massive cash out happen? I'm no bear...but I'm not delusional either.

A major correction has to happen...right?



Yeah I just don't know.  I'm crazy skeptical and have been selling a little since we hit 100 but the way Bitcoin is built, EVENTUALLY it will have a major upward revaluation that will take it to 4 digits per coin or more.... And with how crazy things are in "normal" currencies a whole lot of people are waking up to Bitcoin, which is going to make the gains even more nuts.

So I don't know.  Every instinct in my body tells me that markets don't go up and to the left indefinitely without major periodic corrections as people who bought in at higher numbers get scared and take profits, but if the momentum is nothing but up that instinct is going to be overridden.    I hope we have a correction, not a crash - Spending some time between 80-100 before starting going up again would be much healthier than this nothing-but-all-time-gains nonsense.  Makes me nervous.


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April 03, 2013, 03:42:13 AM
 #9

Yawn.

Heard this shit before.
Sell off + lag = 2 hour bounce.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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April 03, 2013, 03:43:47 AM
 #10

All the positivity and bullishness reminds me of the last crash at $32.
All the negativity and bearishness reminds me of the last increase at $1.

Sure, it "crashed" when it hit those $30, but where did it "crash" to? $2, still an increase of 100%.

It all depends on your POV.

A major correction has to happen...right?
This might be the correction, maybe people realize that Bitcoin is undervalued.


If you bought Bitcoins at $15, which a whole bunch of new people to bitcoin did, you sure felt like it crashed. 

It's all well and good for members of the forum who bought in sub $1/btc but we need newbies to have a good experience, not have their investment sliced in half.

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Jrock
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April 03, 2013, 03:44:54 AM
 #11

I'm bullish. I'm just confused on how the price can skyrocket this fast and people think it's going to go keep going forever and ever.

I think a lot of you may be very disappointed down the road. Then again, maybe I'm wrong and I'll hate myself for not going ALL IN at at all time high.

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April 03, 2013, 03:45:51 AM
 #12

I'm betting there will be at least some type of correction, maybe like last week where it swung down 20 percent in a few minutes.
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April 03, 2013, 03:48:23 AM
 #13

I'm betting there will be at least some type of correction, maybe like last week where it swung down 20 percent in a few minutes.

Those repeat performances were not corrections.
We can't predict the next month. Gox verification line is at 10,000. We are just now beginning to see the fall out from the Cyprus events and recent BTC attention.

- aka The "DigiMan"
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April 03, 2013, 03:49:58 AM
 #14

$200 by Saturday.
lassdas
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April 03, 2013, 04:01:19 AM
 #15

All the positivity and bullishness reminds me of the last crash at $32.
All the negativity and bearishness reminds me of the last increase at $1.

Sure, it "crashed" when it hit those $30, but where did it "crash" to? $2, still an increase of 100%.

It all depends on your POV.

A major correction has to happen...right?
This might be the correction, maybe people realize that Bitcoin is undervalued.


If you bought Bitcoins at $15, which a whole bunch of new people to bitcoin did, you sure felt like it crashed. 

It's all well and good for members of the forum who bought in sub $1/btc but we need newbies to have a good experience, not have their investment sliced in half.
A couple of friends bought all the way up to $30 and I always told them to hold and stay calm. Maybe they felt like it crashed, but what do you think they feel now? I always said it'll go to $100+, that's why I haven't sold any around $30 and haven't sold any during that "crash", because I was pretty damn sure that $30 is not the end.
Those who listened thank me now, those that didn't don't deserve better.  Grin

And for the newbies to have a good experience, we're talking about money here, not My Little Pony.
Bitcoin (as an investment) is a high risk investment, don't invest more than you can afford to lose.

For the user experience the price doesn't really matter, when you need to send $100 worth of bitcoins to someone, you just send $100 worth of bitcoins, makes no difference if that's 100BTC, or 0.000001BTC
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April 03, 2013, 04:12:26 AM
 #16

This rate of price increases isn't healthy anymore.

We have quite a few people sitting on over 50K++ Bitcoins that could retire in the click of a button.

All the positivity and bullishness reminds me of the last crash at $32.


So question is, when does the massive cash out happen? I'm no bear...but I'm not delusional either.

A major correction has to happen...right?



One could think that in normal situations, HOWEVER, this ain't normal son. The price and adoption is going parabolic together. Each time a real company says "we are going to adopt/use bitcoin", the price is "reset", the then current price stands as the new "ground zero" and we go up from there. You cannot price bitcoin like any other traded asset because it is being traded in its infancy, which is an utterly unique situation. Couple all of this with the possibility of a mega player like Amazon or Google endorsing bitcoin and the price goes vertical for a month.

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April 03, 2013, 04:15:36 AM
 #17

So when's the crash?
If there was anyone who could tell you, they'd be a millionaire wizard.

All we can do is watch, and plan for both the unknown hour when it shall arrive, and the possible - though unlikely - future where this is all solid and the crash never comes.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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April 03, 2013, 05:21:25 AM
 #18



One could think that in normal situations, HOWEVER, this ain't normal son. The price and adoption is going parabolic together. Each time a real company says "we are going to adopt/use bitcoin", the price is "reset", the then current price stands as the new "ground zero" and we go up from there. You cannot price bitcoin like any other traded asset because it is being traded in its infancy, which is an utterly unique situation. Couple all of this with the possibility of a mega player like Amazon or Google endorsing bitcoin and the price goes vertical for a month.


^^ THIS!! Nothing about bitcoin is normal!!


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JimiQ84
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April 03, 2013, 05:33:37 AM
 #19

We really don't know how much of the money pouring in is smart money vs dumb money (easily frightened and not-educated about bitcoin). If too much of this increase is due to dumb money, we could have a major downturn that shakes confidence.

This is my concern in a nutshell.

I trust Bitcoin. I don't trust people.

Well, point of "crash" is that bitcoins owned by dumb people (buy high, sell low) become bitcoins owned by smart people (buy low, sell high/hold)
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April 03, 2013, 07:14:13 AM
 #20

Relax, a BTC will remain a BTC, also after a hard landing. Remember, the real bubble is out there with someone buying the equivalent of almost 4 Entire BTC markets each day.

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