qwizzie
Legendary
 Offline
Activity: 2548
Merit: 1245
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October 23, 2019, 12:49:29 PM |
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$7451 on Bitstamp .. lets see if that was the bottom or not.
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somac.
Legendary
Offline
Activity: 2231
Merit: 1524
Never selling
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October 23, 2019, 12:50:53 PM |
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6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
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_javi_
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October 23, 2019, 12:54:18 PM |
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6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
Cost of production depends on many factors worldwide. Many miners are already working with no profit at this level. |
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somac.
Legendary
Offline
Activity: 2231
Merit: 1524
Never selling
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October 23, 2019, 12:58:21 PM |
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6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
Cost of production depends on many factors worldwide. Many miners are already working with no profit at this level. Yeah maybe, but they would be miners on the margin. Hash rate is at a high and difficulty hasn't dropped yet so there has been no miner capitulation of note yet. |
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dragonvslinux
Legendary
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Activity: 1792
Merit: 2242
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October 23, 2019, 01:00:41 PM |
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damn those red candles
Unless you just put in a last minute short before the breakdown  |
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nutildah
Legendary
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Activity: 3696
Merit: 10830
Blockchain Historian, Renaissance Shitposter
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October 23, 2019, 01:00:50 PM |
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 Just to be on-topic for a minute, so no one can say that I never was, I think we're not going much lower for quite a long time, if ever. We may briefly touch $7700 but that's it. I'll even put my name on it.  Quoted   Whoops. Damn, it only took 4 hours for me to be proven wrong. If it pulls back up a couple hundred in the next hour I will continue pretending I was right. |
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somac.
Legendary
Offline
Activity: 2231
Merit: 1524
Never selling
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October 23, 2019, 01:03:25 PM |
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Just to be on-topic for a minute, so no one can say that I never was, I think we're not going much lower for quite a long time, if ever. We may briefly touch $7700 but that's it. I'll even put my name on it. Quoted Whoops. Damn, it only took 4 hours for me to be proven wrong. If it pulls back up a couple hundred in the next hour I will continue pretending I was right. better get out there and start buying then |
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bitcoinPsycho
Legendary
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Activity: 3029
Merit: 2930
$220000 in one hour confirmed
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October 23, 2019, 01:10:59 PM |
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Bitcoin noooooooooooooooooo
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LFC_Bitcoin
Diamond Hands
Legendary
Offline
Activity: 4242
Merit: 12763
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October 23, 2019, 01:11:56 PM |
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OK so people can stop panicking & cuckolding, selling all their coins. The Grayscale news was positive, stop dumping & BTFD.
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Fatman3001
Legendary
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Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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October 23, 2019, 01:14:40 PM |
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OK so people can stop panicking & cuckolding, selling all their coins. The Grayscale news was positive, stop dumping & BTFD.
nope  Edit: I hate Wednesdays |
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dragonvslinux
Legendary
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Activity: 1792
Merit: 2242
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October 23, 2019, 01:15:05 PM |
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OK so people can stop panicking & cuckolding, selling all their coins. The Grayscale news was positive, stop dumping & BTFD.
Copy that. Just closed out most my shorts from $8k area, already had limit order fllled at $7500  To the moon. |
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_javi_
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October 23, 2019, 01:15:39 PM |
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I know we need a shake out, V bottom or whatever to change trend.. but this dump is too much. (-6% out of nowhere)
Honey badger, you are overreacting...
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Lucius
Legendary
Offline
Activity: 3948
Merit: 7352
www.marysmeals.org
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October 23, 2019, 01:16:24 PM |
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It seems to me like someone is running a "Drop BTC, buy Gold" campaign - $500 down in just a few minutes really looks very ugly. But as always, if there is no power forward, the price crashes downwards.
This is actually similar to the situation with $10k level which is hold for a long time, but at one point it couldn't stand it anymore. The same thing is happening now, only the numbers have changed.
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_javi_
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October 23, 2019, 01:17:15 PM |
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It seems Grayscale has money to burn in Ads campaigns.. good for them. thanks! |
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qwizzie
Legendary
Offline
Activity: 2548
Merit: 1245
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October 23, 2019, 01:18:31 PM |
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The dump to the low $7400 range was exspected by many traders for some time now, good to see it happen this fast instead of having it dragged out.
Now we just have to wait for the rebound (assuming $7400 holds) and see at which price point Bitcoin stabilizes.
Edit : $7412 on Bitstamp just now
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d_eddie
Legendary
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Activity: 3206
Merit: 5403
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October 23, 2019, 01:23:55 PM |
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Disclosure: Reduced my short to a small fraction of what it was. I hope in a rebound to rebuild it higher with tight stops. The long is in very bad shape, but liquidation got quite a bit further away with this oxygen intake.
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El duderino_
Legendary
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Activity: 3220
Merit: 15510
“They have no clue”
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October 23, 2019, 01:26:57 PM Merited by BobLawblaw (1) |
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BoB ain't gonna like this morning ......
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LFC_Bitcoin
Diamond Hands
Legendary
Offline
Activity: 4242
Merit: 12763
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October 23, 2019, 01:28:22 PM Merited by BobLawblaw (1) |
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BoB ain't gonna like this morning ......
Oh shit yeah, Bob is going to be angry AF  |
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bitcoinPsycho
Legendary
Offline
Activity: 3029
Merit: 2930
$220000 in one hour confirmed
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October 23, 2019, 01:29:09 PM Merited by BobLawblaw (1) |
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Sheeeeit
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