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Author Topic: Crash will bottom at $30, you heard it HERE first.  (Read 7665 times)
Elwar
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April 13, 2013, 04:46:13 AM
 #21

Now, can someone please tell me how I can short bitcoins or play the downside in any way?

Yes, please go borrow my bitcoins at Bitfinex to do so on margin.

Much money for you to make, do not worry about paying a large interest rate for the loan.

http://www.bitpools.com
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BitcoinMillionaire
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April 13, 2013, 04:53:12 AM
 #22

For what its worth, silver has just made a new low if you check out the chart.


how is the recent drop in silver and gold related to BTC?

This perhaps? Wink https://twitter.com/MarkTOByrne/status/322082976915668992

Lol. Really, I'm with Warren Buffet, I'd rather invest in income producing assets than gold, silver or bitcoins. Sure its good to hold some value in these commodities to be sheltered from some doomsday scenario. But if it was the end of the world, I'd rather own lots of food, guns and bullets than any of these stores of wealth. It doesn't matter how much gold you have, when the $%# hits the fan, assuming you value your own life, you need weapons and food, not gold and bitcoins.

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April 13, 2013, 05:08:56 AM
 #23

Now, can someone please tell me how I can short bitcoins or play the downside in any way?

Yes, please go borrow my bitcoins at Bitfinex to do so on margin.

Much money for you to make, do not worry about paying a large interest rate for the loan.

Actually i found this:




www.igmarkets.com check it out

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April 13, 2013, 05:27:47 AM
 #24

The enthusiasm will fade. It isn't outlandish to bet on a $30 target. People forget a lot in 2 weeks time.

                                 
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April 13, 2013, 05:34:23 AM
 #25

<$30 predictions are delusional.


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MatTheCat
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April 13, 2013, 05:37:57 AM
 #26

Oh yeah... I reckon we've already seen the bottom now.

It'd take some serious fear to send the price lower now.

Nobody want's to sell at a loss, so they're going to hold.

Even the early investors aren't going to want to miss the ride up.

That might be what you would like to happen, but the fact is that most Bitcoins in peoples hands were at significantly lower prices when they were bought than they they even are now. Most Bitcoins could be sold today, netting the holder a big profit.

Your own brand of thinking suggests to me however, that you are late entrant into the market and are actually in negative equity, yet don't want to admit your losses.

See, the difference between people who have made profit from a stock and those who have lost value on a stock, is that profit makers are much quicker to sell than the loss takers. Those who are already well in the black multiple times over (even with crash) will gradually see which way the wind is blowing and try to capitalise on the still much higher prices, which of course will have the effect of sending the price lower. People who bought in late, and have already lost 50%-70% of their intitial investment, not wanting to acknowledge their error, will likely hold on to the bitter end. Coming on forums such as this, propagating the MtGox DDoS fairy stories etc.

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April 13, 2013, 05:43:19 AM
 #27

If you guys think someone is stupid enough to sell < $30 now I know a handful of wealthy investors willing to scoop 10's of 1000s of coins if there is that much volume.

As bitcon said, you are all dellusional to think it will stay there long it ever get there.

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April 13, 2013, 05:54:47 AM
 #28

Yeh yeh yeh yeh oki doki.
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April 13, 2013, 12:04:32 PM
 #29

Yes, it will retest the 32 breakout. Thats how price usually behaves and there is no evidence that bitcoin should be any different in this regard. The projected target for the move *after* the 32 retest is $500 (plus probably some overshoot). Place buy orders at $33 and a bunch of sell orders in the $500...$1000 range. Then wait until they have been filled and then ask me again for further instructions.

Bookmark this posting for future reference.

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April 13, 2013, 12:47:43 PM
 #30

I'll buy so much!

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April 13, 2013, 12:54:17 PM
 #31

buying like hell at the bottom, you heard it here first. :-)

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April 13, 2013, 01:38:02 PM
 #32

Yes, it will retest the 32 breakout. Thats how price usually behaves and there is no evidence that bitcoin should be any different in this regard. The projected target for the move *after* the 32 retest is $500 (plus probably some overshoot). Place buy orders at $33 and a bunch of sell orders in the $500...$1000 range. Then wait until they have been filled and then ask me again for further instructions.

Bookmark this posting for future reference.

Bookmarked, lets see what happens.

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April 13, 2013, 10:29:50 PM
 #33

If you guys think someone is stupid enough to sell < $30 now I know a handful of wealthy investors willing to scoop 10's of 1000s of coins if there is that much volume.

As bitcon said, you are all dellusional to think it will stay there long it ever get there.

So you will be left with a few overwhelmingly strong hands fighting to manipulate the market, and empty each of the others capital into their own koffers. Meanwhile, a few early adopters aside, the common man, the 99% who are essential for conducting the day to trade that Bitcoin needs to survive and thrive, will know to steer well clear of it.

Bitcoin to trend gradually downwards to low double digits and to remain there for a long time, otherwise yet more manipulated bubble mania ultimately resulting in Bitcoin going up in smoke.

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Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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April 13, 2013, 11:26:04 PM
 #34

imo you still can't compare bitcoin at the moment to silver or gold.
biggest gold reserves sit in usa and germany.
now guess how they can play with the prices when they want. (just have read in the news yesterday that cyprus perhaps has to pay part of the debts with their gold reserves
if this is becoming a trend other countrys should follow.)
more and more big players start gambling with bitcoins although the market for bitcoins itself is just slowly developing.
everyhting is at a point of virginity and in a kind of goldrush state.
there will be a lot of gambling between several bubble stages but if i look at the charts of these last years, the price is constantly climbing up.
If the regulating elites don't start crippling the hype, i see good times in the future for this whole thing.
and even if they try to regulate bitcoin, then the masses suddenly would hear "bitcoin" for the first time and start getting curious.
If a government wants to boycott something mostly a significant part of the masses does the opposite and wants to find out more.
It's like to tell a child to never start smoking although he never knew what a cigarette was in the first place.
and what will he do then???
right, start finding out what's up with that bitcoin thingy.
imo only big danger is that somehow the bad parents start buying in and control the famous 51% and with that like the gold market the whole thing.
It's not about the current price of bitcoins, it's about the possiblitiest and the genious idea behind it that stomps every fiat into the ground.
I love it that everythings about speculation right now. At this stage most governments will think everything will settle itself and it's just a short trend.
(same with internet, after one decade they started realizing they should have controlled it much more in the first place)

but to get to the point, nobody can predict the real value of bitcoin right now
it's pure speculation. but with this small market it's just constant extremes.
euro value dropped by one cent in the last weeks compared to usd and think about how big that market is. (it's by comparison a huge fall)
everythings gonna be fine in the longterm...and I'm holding

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April 13, 2013, 11:53:33 PM
 #35

Now, can someone please tell me how I can short bitcoins or play the downside in any way?

Are there derivatives yet or a spread betting platform of some sort?

I am considering to extend my trading emporium with offering (writing) puts of different maturities and strike prices.

The rationale for me to do so is, I have a flourishing OTC market for bitcoins. I am selling BTChundreds per day to the willing buyers. Even if the price goes down, there will be buyers, and their euros will just fetch more bitcoins. So I can offer puts for each week, up to the volume of my approximate sales, and I have enough coins myself that it can be at least partly escrowed. I can sell the coins anyway, therefore I will have the cash flow and the ability to make good of the puts. The escrow will take care that I can take the hit in the exchange rate if indeed the current price goes much lower than the strike.

So this is not a differential contract but an actual binding offer to buy bitcoins at a fixed price lower than the current one, at some future date.

I am profiting anything between 10%-25% on my sales right now, and the only limitation is our organizational ability to sell coins. We will start newspaper ads next Tuesday. The website.
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April 14, 2013, 01:09:50 AM
 #36

If the price remains below $100 for an extended time I can see it dropping to $30-$40 range. It seems there's a battle at $100 between newbies that think $100 a coin is cheap and early adopter want to cash in a few coins at nothing below $100 dollars.

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April 14, 2013, 01:20:14 AM
 #37

The bottom was at $50, which fits the pattern perfectly

1st crash- Crash from $1 ATH down to $.50
2nd crash- Crash from 31.90 ATH down to $5 (within margin of error, temporary situation of $.01 doesn't count as it's a hack result)
3rd crash- crash from $266 ATH down to $50

4th crash will be from X down to $500, predicting it here first

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April 14, 2013, 01:43:53 AM
 #38

LOL now that you said it the price will never go that low for very long or ever at all.

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April 14, 2013, 01:50:41 AM
 #39

The "cashing out" argument would be valid for an asset or stock.

But we know that several early adopters believe in Bitcoin long term and do not intend to cash out.
Yet still they might be inclined to short in order to take additional profit. And obviously we don't know how much of the current BTC holders are also BTC believers ;-)
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April 14, 2013, 02:03:02 AM
 #40

The bottom was at $50, which fits the pattern perfectly

1st crash- Crash from $1 ATH down to $.50
2nd crash- Crash from 31.90 ATH down to $5 (within margin of error, temporary situation of $.01 doesn't count as it's a hack result)
3rd crash- crash from $266 ATH down to $50

4th crash will be from X down to $500, predicting it here first

you omitted the 0th crash, before bitcoin was worth anything significant. There is a very short spike at a certain date in 2010. This has been influencing the market ever since.
The hack result does count because at the time bitcoins were actually worthless because the only infrastructure was compromised.
after 31.90 the price made a dead cat bounce to 1.99

The first bubble was only the pretext for the current bubble and it did not exceed exponential growth which this one did.  This is the purest bubble possible and it will collapse almost completely symmetric.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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