from $266 to $70? what happened?

[jeprokzki]

in 2 days the btc value rapidly down to $70 from $266? is this a strategy for the upcoming shipments of BFL massive T-hash mining rigs?

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[meebs]

oops. sorry about that.. didnt see the big red button there

[Bytas]

Market correction, nothing more.
Value is still 200% of what it was 3 weeks ago.

[tclo]

in 2 days the btc value rapidly down to $70 from $266? is this a strategy for the upcoming shipments of BFL massive T-hash mining rigs?

it's called a classic speculative bubble that was popped...look up tech stocks, tulips, and beanie babies...nothing new here.

[Elwar]

Too many weak hands not understanding Bitcoin. Only understanding +1,000% OMG! HOW DO I BUY!!?!

[Frozenlock]

While every media has never been more bullish for Bitcoin. It's as if those poor souls were trading with their emotions. Oh wait...

[bitcon]

can you ppl wait another week or two?   

[Zaih]

Goxxed mate

[datguyian]

So I've been seeing these threads off and on all day, and a question for anyone that has actively participated in them and felt negatively about BTC the last 2 days.... can you give me one good reason why it makes sense to you that the value of something can multiply in ungodly ways in just a few days but when it goes down almost as fast as it came up, then there's a problem?  From what I've studied, it's still double or triple (depending on which exchange you refer to) the value it was in March. So let's say it ends this month around the price it is now... if it does, then it still tripled in the last 2 months. If you're in this for investment reasons, or really any reason, your cryptocurrency portfolio tripled value in 2 months. That's quite a gain...

I'm a newbie to bitcoin and cryptocurrencies, but I don't care what it is... if something can gain value that quickly, it can lose value even quicker. I still think bitcoin is awesome, and I would not be surprised to see it gain even higher than 260 USD (either as a result to a bubble or legitimately, either way seems plausible to me)... and then drop again. If BTC was volatile before, it's going to be even more volatile for the next few months with all the press it has been getting. I think it will stabilize at some point, but it's going to be at least a few months before the hype dies out.

[Malawi]

So I've been seeing these threads off and on all day, and a question for anyone that has actively participated in them and felt negatively about BTC the last 2 days.... can you give me one good reason why it makes sense to you that the value of something can multiply in ungodly ways in just a few days but when it goes down almost as fast as it came up, then there's a problem?  From what I've studied, it's still double or triple (depending on which exchange you refer to) the value it was in March. So let's say it ends this month around the price it is now... if it does, then it still tripled in the last 2 months. If you're in this for investment reasons, or really any reason, your cryptocurrency portfolio tripled value in 2 months. That's quite a gain...

I'm a newbie to bitcoin and cryptocurrencies, but I don't care what it is... if something can gain value that quickly, it can lose value even quicker. I still think bitcoin is awesome, and I would not be surprised to see it gain even higher than 260 USD (either as a result to a bubble or legitimately, either way seems plausible to me)... and then drop again. If BTC was volatile before, it's going to be even more volatile for the next few months with all the press it has been getting. I think it will stabilize at some point, but it's going to be at least a few months before the hype dies out.

Think you got it pretty much cornered, but the hype can fade very quickly. Still - it might become stable and start the slow and steady rise(or level price) that will give it acceptance.

[Crypt_Current]

can you ppl wait another week or two?   

KNOW, N33D SIDEWAYS 8 MONIES NOW!!!!!!!!!!111!!1

[Zaih]

We're going back up yeww

[jeprokzki]

in 2 days the btc value rapidly down to $70 from $266? is this a strategy for the upcoming shipments of BFL massive T-hash mining rigs?

it's called a classic speculative bubble that was popped...look up tech stocks, tulips, and beanie babies...nothing new here.

the reason and it

thanks sir

[b!z]

We're going back up, yeahhh 

[SRoulette]

"Mount DDoS" happened

[shibaji]

Trying to get back to normal or mean.

[lunarboy]

What happened was daylight robbery and nothing more. Greedy monsters caused a massive sell off at the perfect 'system overload goxed down DDoS' time. It was like taking candy from a baby. We had a massive influx of new naive and scared money that didn't understand the technology or its world changing potential.  Im not a finance person, but I believe its called a TREE SHAKE

All those ripe for the picking, apple shaped newbies fell to the floor in fear and are now lying bruised and hurting.

Leading to the question what will happen next? Well personally I believe in the tech as do many more and there is A FECKIN shit load of money sitting on the exchanges now a billion or more!

With whats just happened and with the aforementioned in mind many folk will no doubt flee in terror but those that understand what we have here and how strong we still are after one of the biggest and fastest sell offs in history, will probably wait for the dust to settle and if they sold on the way down will probably buy again as soon as this levels out. I predict a slow and steady rise over the next few weeks after we've found the stable base which seems to be somewhere between 50-80$.

DO YOUR OWN RESEARCH ... don't just read this speculation forum as there are many good articles out there, if you didn't understand what you were getting into before READ MORE.

I suggest these two as relatively unbiased research starting points.
one of the best of the new articles http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html
followed by one of the best of the old ones http://www.economist.com/blogs/babbage/2011/06/virtual-currency?fsrc=scn/fb/wl/bl/bitsandbob

also spend less time in this seedy little sub forum and more time HERE https://bitcointalk.org/index.php?board=77.0.

My condolences to those that bought in above 120 but if you have followed the prevailingly sensible advice of not investing more than you can afford to loose and still haven't sold. Then I firmly believe in a years time those 260$ coins you have will be the best thing you ever did.

Still what do I know? I'm just a faceless comedy Andy Warhol caricatured banana, on an obscure sub forum of the Internet.  DYOR

disclosure i have i've been here since Jan 2011 and have a more than a few coins tucked away don't let my registration date or post count fool you. I couldn't bring myself to sell yesterday, as I believed it to be disgustingly immoral, but will be buying more in the coming weeks.

[HappyBitCoinUser]

What happened was daylight robbery and nothing more. Greedy monsters caused a massive sell off at the perfect 'system overload goxed down DDoS' time. It was like taking candy from a baby. We had a massive influx of new naive and scared money that didn't understand the technology or its world changing potential.  Im not a finance person, but I believe its called a TREE SHAKE

All those ripe for the picking, apple shaped newbies fell to the floor in fear and are now lying bruised and hurting.

Leading to the question what will happen next? Well personally I believe in the tech as do many more and there is A FECKIN shit load of money sitting on the exchanges now a billion or more!

With whats just happened and with the aforementioned in mind many folk will no doubt flee in terror but those that understand what we have here and how strong we still are after one of the biggest and fastest sell offs in history, will probably wait for the dust to settle and if they sold on the way down will probably buy again as soon as this levels out. I predict a slow and steady rise over the next few weeks after we've found the stable base which seems to be somewhere between 50-80$.

DO YOUR OWN RESEARCH ... don't just read this speculation forum as there are many good articles out there, if you didn't understand what you were getting into before READ MORE.

I suggest these two as relatively unbiased research starting points.
one of the best of the new articles http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html
followed by one of the best of the old ones http://www.economist.com/blogs/babbage/2011/06/virtual-currency?fsrc=scn/fb/wl/bl/bitsandbob

also spend less time in this seedy little sub forum and more time HERE https://bitcointalk.org/index.php?board=77.0.

My condolences to those that bought in above 120 but if you have followed the prevailingly sensible advice of not investing more than you can afford to loose and still haven't sold. Then I firmly believe in a years time those 260$ coins you have will be the best thing you ever did.

Still what to I know? I'm just a faceless comedy Andy Warhol caricature on an obscure sub forum of the Internet.  DYOR

disclosure i have i've been here since Jan 2011 and have a more than a few coins tucked away don't let my registration date or post count fool you. I couldn't bring myself to sell yesterday, as I believed it to be disgustingly immoral, but will be buying more in the coming weeks.

We need stupid people so that us smart people can get rich.

[vdragon]

Mt gox happend

[romerun]

First bubble was gox hacked, this one was gox ddosed.