Down to 30 USD?

[bitbit]

The bubble has burst, but where will the correction stop? My bet is 30. What do you think?

[nobbynobbynoob]

The bubble has burst, but where will the correction stop? My bet is 30. What do you think?

There's a huge selloff taking place, yet the price is holding up remarkably well above $110 so far. This probably isn't a crash (but you never know!). Keep calm and... Bitcoin.

[liquidplaya]

k so i just joimed this so i can post to a user so I gotta send 5 posts first apparantly so here goes:
I am a trader of FX markets for 2 years.
I have BROKEN EVEN trading day in and out for the past 2 years... bitcoins jumped out to me as being like GOLD (ie: scarce
but at the same time uncontrollable like pirating and also gaining major popularity. So what matters now is the major
inflows of money. Remember, its not just buyers and sellers, or more buyers than sellers, for every buyer there is always a seller
on the other end, what matters is the INFLOW of money willing to take market orders at WHATEVER the next seller is willing to sell at.

Sell offs will be very short lived now I believe
this isnt a stock...
the value will continue to increase to at least 200 in the near future (this month)
my educated guess.

[Rampion]

Hopefully we go back to $30, we can get as many super cheap BTC the available fiat can buy, and in the process new and more reliable exchanges appear on the market

[uk1]

$85

[suvegastar]

127USD. 

[scouzi]

The bubble has burst, but where will the correction stop? My bet is 30. What do you think?

Wait till people start coming out with derivative BTC financial instruments. Then it will get interesting. The problem is that no pair trading is available yet like all other currencies. You can't hedge.

[chumpp]

hopefully back to a new normal. this exponential growth cant last forever

[Charlie101]

Nope -- small correction and then upwards -- watch what happens in Cypress !

[revcbh]

The real question is: "should I take profits?"

It looks like the price is bouncing back from just below $120. I think there's a reasonable chance that it will move down to below $100 in the near-term, but it's not a certainty by any means. Ultimately, I see the long term (years) value of Bitcoin being $1k+ and I don't think the risk of liquidating some of my position now to hopefully get a discount in the near future is worth the chance that I'll end up missing out on that large growth.

[Rampion]

The real question is: "should I take profits?"

It looks like the price is bouncing back from just below $120. I think there's a reasonable chance that it will move down to below $100 in the near-term, but it's not a certainty by any means. Ultimately, I see the long term (years) value of Bitcoin being $1k+ and I don't think the risk of liquidating some of my position now to hopefully get a discount in the near future is worth the chance that I'll end up missing out on that large growth.

Exchanging real money (BTC) for play money (fiat) is never a profit in my book.

[DeathAndTaxes]

ITT someone hoping (praying) he will be able to buy at $30.  Not going to happen.  The exchange rate may fall more, hell it might fall to below $100, but $30 that is just the stuff dreams are made of.

[Rampion]

ITT someone hoping (praying) he will be able to buy at $30.  Not going to happen.  The exchange rate may fall more, hell it might fall to below $100, but $30 that is just the stuff dreams are made of.

A man can dream

[wopwop]

yeah we are already returning to normal

[kireinaha]

Yes, I think we've topped out at about $130. I'm guessing it will plummet once all the speculators pack up and move on to their next tulip craze.

[sx1234]

Doubt it but who knows...

Think you have a perfect storm effecting the price...

simple supply and demand will drive it..

1) supply is limited by increased difficulty in mining..
2) worldwide economic issues
3) acceptance by the more general public to use bitcoin for transactional payments

So long as that continues I think it'll continue to go up but speed may slow..

[hiima]

We've leveled out now.

[CoinXchange]

$80

[BitcoinTate]

Watch, it could hit $150 tonight when a bunch of new money clears the bank and enters the market. It has happened twice a day the past few weeks.

[StringTheory]

I don't see it going below 90 again for a long time to be honest, if ever.  The small bubbles that I have seen have corrected themselves after ~20% spikes in the positive or negative direction.  We shall see though, $30 would provide a massive buying opportunity, and to be honest, with a Mt Gox queue of over 9000 and rising, I don't see demand falling significantly below supply.