I have a question, was the price stable for a few days before the last crash

[drawingthesun]

When the last real crash happened, from 33 down to 2, just before the 33 started to tumble, was the price stable like it is now?

I ask because I feel like a lot of people are selling Bitcoins in small steady amounts and it could be the old whales cashing out, and all it takes is one of them to cash out to fast and then we might get true panic.

I'm kinda worried, I just want to know what it was like back then.

[Zangelbert Bingledack]

I don't get this. If it's stable people worry, if it falls those same people presumably worry at least as much...so the only days you're not worried is when it's painting a big green candle?

Anyway, to answer your question, it's generally been stable right before it launches higher.

[drawingthesun]

I don't get this. If it's stable people worry, if it falls those same people presumably worry at least as much...so the only days you're not worried is when it's painting a big green candle?

Anyway, to answer your question, it's generally been stable right before it launches higher.

Thanks :)

[oakpacific]

I don't think it's so difficult to check out the chart yourself, but anyway FYI here is the hourly chart of the whole crash in June 2011, http://bitcoincharts.com/charts/mtgoxUSD#igHourlyzczsg2011-06-06zeg2011-06-12ztgSza1gSMAzm1g200zm2g21zv
there are a number of traits for you to see:

1.The price moved up very fast before the top, can be 100% per day.
2. The price then made a rapid downmove, which in itself is not enough for you to distinguish a crash from a normal correction.
3. The price then slowly recovered but never reached the previous top.
4. The price then started to decline slowly but surely, for a few days, at this stage it becomes more and more clean that the selling pressure is outweighing the buying pressure and the current price range could not last for long.
5. Eventually the price made a final decisive move below the brown hourly SMA 200 line, accompanied by large volume, which marked the beginning of the bear market.

But it's just the past, which very well may not tell anything about the future.

[Jobe7]

When the last real crash happened, from 33 down to 2, just before the 33 started to tumble, was the price stable like it is now?

I ask because I feel like a lot of people are selling Bitcoins in small steady amounts and it could be the old whales cashing out, and all it takes is one of them to cash out to fast and then we might get true panic.

I'm kinda worried, I just want to know what it was like back then.

What 'journalists' (and sometimes others) often fail to mention is that the 'crash' was caused by a certain bitcoin exchanger getting 'hacked' (it wasn't 'hacked' as people understand the conventional term, the person in charge was daft and accidentely let someone get hold of his admin passwords.

When this occured around $250,000 worth of bitcoin was stolen and sold, if you check the charts its easy to see and understand how this amount of btc being sold suddenly (at that time the capital of the market was nowhere near its current size) would 'crash' its market.

[drawingthesun]

From your replies it seems like the situation around that time was completely different meaning we are in different waters now. No past lessons to learn from.

[ehoffman]

When the last real crash happened, from 33 down to 2, just before the 33 started to tumble, was the price stable like it is now?

Not much...

[ruski]

When the last real crash happened, from 33 down to 2, just before the 33 started to tumble, was the price stable like it is now?

I ask because I feel like a lot of people are selling Bitcoins in small steady amounts and it could be the old whales cashing out, and all it takes is one of them to cash out to fast and then we might get true panic.

I'm kinda worried, I just want to know what it was like back then.

The community was like it was now - people like you terrified that the price might dip just a tiny little bit and ready to sell on a hair trigger.

Not much...

Short term I'd say we're looking at yet another break to the upside. If it breaks down, it could be a reversal. Somehow I doubt it.

[Kazu]

I don't think it's so difficult to check out the chart yourself, but anyway FYI here is the hourly chart of the whole crash in June 2011, http://bitcoincharts.com/charts/mtgoxUSD#igHourlyzczsg2011-06-06zeg2011-06-12ztgSza1gSMAzm1g200zm2g21zv
there are a number of traits for you to see:

1.The price moved up very fast before the top, can be 100% per day.
2. The price then made a rapid downmove, which in itself is not enough for you to distinguish a crash from a normal correction.
3. The price then slowly recovered but never reached the previous top.
4. The price then started to decline slowly but surely, for a few days, at this stage it becomes more and more clean that the selling pressure is outweighing the buying pressure and the current price range could not last for long.
5. Eventually the price made a final decisive move below the brown hourly SMA 200 line, accompanied by large volume, which marked the beginning of the bear market.

But it's just the past, which very well may not tell anything about the future.

I'm not a bear but....

1. The price moved up very fast before the top ($147).
2. The price made a very rapid downmove (to $108 or $100 if you ask btc-e)
3. The price then slowly recovered...

GUISE, WE NEED TO REACH THE PREVIOUS TOP...

[oakpacific]

I don't think it's so difficult to check out the chart yourself, but anyway FYI here is the hourly chart of the whole crash in June 2011, http://bitcoincharts.com/charts/mtgoxUSD#igHourlyzczsg2011-06-06zeg2011-06-12ztgSza1gSMAzm1g200zm2g21zv
there are a number of traits for you to see:

1.The price moved up very fast before the top, can be 100% per day.
2. The price then made a rapid downmove, which in itself is not enough for you to distinguish a crash from a normal correction.
3. The price then slowly recovered but never reached the previous top.
4. The price then started to decline slowly but surely, for a few days, at this stage it becomes more and more clean that the selling pressure is outweighing the buying pressure and the current price range could not last for long.
5. Eventually the price made a final decisive move below the brown hourly SMA 200 line, accompanied by large volume, which marked the beginning of the bear market.

But it's just the past, which very well may not tell anything about the future.

I'm not a bear but....

1. The price moved up very fast before the top ($147).
2. The price made a very rapid downmove (to $108 or $100 if you ask btc-e)
3. The price then slowly recovered...

GUISE, WE NEED TO REACH THE PREVIOUS TOP...

IMHO, no.4 is the distinctive trait, no.5 is the last selling opportunity. All else we have seen before in this rally,

[XXthetimeisnowXX]

I don't get this. If it's stable people worry, if it falls those same people presumably worry at least as much...so the only days you're not worried is when it's painting a big green candle?

Anyway, to answer your question, it's generally been stable right before it launches higher.

thanks you said it for me.
 

[ruski]

Or, it could be the "recovery" bull trap after retreating from the NEW PARADIGM!!11