whats goin on with BTC?

[masisty]

omg at price drop

[Atix]

Wow.. I went to eat and now it suddenly dropped from 195 EUR to 160 EUR o.0

[hrkristian]

heh yeah, wish I had funds ready at Mt Gox, the second this drop stabilises I wish I could've been there to hoard. >.<

[AJS_]

Bitstamp has gone offline while btc-e has a database error, Gox on 30mins lag and people exiting like the Titanic sinking.

[traderman]

Drops are always more ferocious then price climbs. 

[Guido]

I think mtgox is under attack

btc-e.com is showing as $168 for bitcoins, having a drop but think there are multiple ddos going on from the chatter
sure will prob have a bounce back up in time
past half hour has been interesting watching

[jrlichtman]

Mt Gox is slow, and down to $183USD right now.

Could be sentiment driven selloff, but more likely an attack.

[idividebyzero]

not going to miss out on the low price this time, I didnt buy when it was 115 after the mtgox attack a week ago, not going to make the same mistake again, no chance it will go to 115 but I dont think we will be seeing these prices again

[mufa23]

Yeah, I think a lot of the major exchanges are under a DDoS right now. Everyone's panic selling, which is driving the price down. If you can login at one of the places, better buy some BTC before everyone else logs in and buys low. It's time to make some major profit now!

[dooner4]

It could drop back to 150 and I promise in a month or so, it'll be right back here if not sooner.

[Guido]

down to $130 on btce

im pretty sure this forum is under attack as slowest site i am visiting online today

[hrkristian]

$157

[jrlichtman]

The question is what price are the idiot DDOSers looking for. I'm assuming they'll stop when they get there.

[zeroday]

Chickens panic
Looking forward to buy at $80

[Thrasher66099]

Looks like a pretty textbook DDoS to me. I'll be ready to buy when they stop attacking the exchanges and it bottoms.

[yefi]

79USD on Bitstamp. Good DDoS job I guess - must be very proud of themselves, I'm sure.

[klondike_bar]

It could drop back to 150 and I promise in a month or so, it'll be right back here if not sooner.

it backed down to almost $150 now. What's happening looks like 1 of 2 things (or both combined):

1) the bubble has burst. The climb from $20 to $280 was an obvious bubble, but no-one knew its ceiling (my guess was gonna be around $350). The drop in price has multiplied perceptions that the ceiling was hit, and we will see very rapid rippling of this across the network. and will test a lower valuation limit today or tommorrow. (probably around $100) and bounce up to hunt for a new happy medium around $125-$200 range

2) BEAR RUSH. This is more common then many might think, and boils down to a few heavy hands that hold thousands of coins putting a significant portion for sale below market. this drives down the asking price, saturates the market, and triggers others to panic sell. The heavy hands then re-buy for cheaper and walk away smiling. Right now we would be in the tail-end of this mechanism, and should see some large asks in the 125-175 range as these people rebuild thier wallet with almost 2X the coins they had prior.


I think both have occurred, and its hard to judge where the price will level out. I think >$100 is entirely justified for bitcoin at this point, and we could easily resume the rally at a more linear pace to test $300 again this week.

[Thrasher66099]

I can't believe people are dumb enough to fall for this trick twice in two weeks.

[zeroday]

Greedy chickens deserve this loss. True bitcoin users not affected.

[dmartig]

damn missed it at $130 back up to $170 on mt gox and $199 on coinbase. one has to be nimble