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hyphymikey
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June 09, 2013, 06:57:08 AM |
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The fact that the dumper picked the slowest time of the week for bitcoin, screams manipulation. All the bulls that want to hold up the price, but are still looking for cheap coins, aren't around right now, which is why the slow rebound.
The weekend dip is back, meaning manipulation is overpowering users/speculators.
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cedivad
Legendary
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Activity: 1176
Merit: 1001
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June 09, 2013, 07:00:16 AM |
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Someone who dumped 60K bitcoins at 101, is not going to buy back in. Moreover, if they have more btc, they're likely to wait for the rebound to lure more fools into the milking barn...
Noone dropped 60k at 101. Maybe you are talking about the eaten 10k wall? My guess for the reentry in in the 50 range. We might see a bull trap there. |
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hyphymikey
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June 09, 2013, 07:00:24 AM |
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This is somewhat exciting, even though the price is going to the wrong way in my book. It has been so boring around here after jan-feb-mar-apr, which was fun watching the wall/price daily
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Zangelbert Bingledack
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Activity: 1036
Merit: 1000
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June 09, 2013, 07:01:07 AM |
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Bored traders were tired of the flatlining so started some weekend fun.
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ShroomsKit
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June 09, 2013, 07:03:07 AM |
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Yes, they are pretty cheap.
A few of us warned weeks ago that this would happen... people want cheap coins? Well there you go. You have them. Fat lot of good it will do you now.
I don't see anyone buying all those cheap coins. Amazing, isn't it? Not really -- any hopes of recovery up until 2 weeks ago were pretty much ruined by manipulators aiming for "cheaper coins". It removed all steam from the market, and has cheapened the value of bitcoin. Now we're seeing the result -- the cash-out. They wanted cheaper coins, they got them. It's time now for people to fully reconcile the phrase "cheap coins" with reality. They are moving the goalposts already...100 dollars isn't really cheap. That's why they are not buying yet. |
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ShroomsKit
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June 09, 2013, 07:04:23 AM |
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Yes, they are pretty cheap.
A few of us warned weeks ago that this would happen... people want cheap coins? Well there you go. You have them. Fat lot of good it will do you now.
I don't see anyone buying all those cheap coins. Amazing, isn't it? Not really -- any hopes of recovery up until 2 weeks ago were pretty much ruined by manipulators aiming for "cheaper coins". It removed all steam from the market, and has cheapened the value of bitcoin. Now we're seeing the result -- the cash-out. They wanted cheaper coins, they got them. It's time now for people to fully reconcile the phrase "cheap coins" with reality. 100 is not cheap. People want 70-30 Sure... Funny how with every 5 dollar drop the usual CHEAAAPPP COIIINS!!!! posts were all over the place. Now it dropped below 100 and suddenly that isn't cheap anymore. |
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BitPirate
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Activity: 238
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RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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June 09, 2013, 07:04:52 AM |
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For a currency that can be manipulated so easily, the "sensible valuation" is "everyone's play money only". And so, it will be ....
Then those that are left can play with their pocket money on cheap coins.
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lucas.sev
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June 09, 2013, 07:05:38 AM |
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Yes, they are pretty cheap.
A few of us warned weeks ago that this would happen... people want cheap coins? Well there you go. You have them. Fat lot of good it will do you now.
I don't see anyone buying all those cheap coins. Amazing, isn't it? Not really -- any hopes of recovery up until 2 weeks ago were pretty much ruined by manipulators aiming for "cheaper coins". It removed all steam from the market, and has cheapened the value of bitcoin. Now we're seeing the result -- the cash-out. They wanted cheaper coins, they got them. It's time now for people to fully reconcile the phrase "cheap coins" with reality. 100 is not cheap. People want 70-30 Sure... Funny how with every 5 dollar drop the usual CHEAAAPPP COIIINS!!!! posts were all over the place. Now it dropped below 100 and suddenly that isn't cheap anymore. Funny how with every drop the usual cheap coins shout is by people who bought in higher and see their money disappear, desperately wanting people to buy back in. |
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ShroomsKit
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June 09, 2013, 07:06:20 AM |
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Yes, they are pretty cheap.
A few of us warned weeks ago that this would happen... people want cheap coins? Well there you go. You have them. Fat lot of good it will do you now.
I don't see anyone buying all those cheap coins. Amazing, isn't it? Not really -- any hopes of recovery up until 2 weeks ago were pretty much ruined by manipulators aiming for "cheaper coins". It removed all steam from the market, and has cheapened the value of bitcoin. Now we're seeing the result -- the cash-out. They wanted cheaper coins, they got them. It's time now for people to fully reconcile the phrase "cheap coins" with reality. Date Registered: 14-03-2013, 03:59:40 Babby's first Bitcoin bear market/major correction.  This isn't a correction. It also isn't a test. It's tons of money leaving Bitcoin because people lost interest/faith. But at least we have cheap coins right? |
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ShroomsKit
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June 09, 2013, 07:07:02 AM |
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well maybe it should go down.. until we hit bottom.. so we start to go up again.
Can you give me one good reason for that? |
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byronbb
Legendary
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Activity: 1414
Merit: 1000
HODL OR DIE
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June 09, 2013, 07:07:25 AM |
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Someone who dumped 60K bitcoins at 101, is not going to buy back in. Moreover, if they have more btc, they're likely to wait for the rebound to lure more fools into the milking barn...
Noone dropped 60k at 101. Maybe you are talking about the eaten 10k wall? My guess for the reentry in in the 50 range. We might see a bull trap there. Ya agreed. While this hurts my equity it is amazing to watch bitcoin now vs that of a year ago. I just watched 50k btc selloff worth 5 million dollars. Been around this board when we watched it go to 30 then grind to $2 then crawl to $20 then RAMP to the moon. A $100 bitcoin is truly amazing in its own right. Everything about this night is bullish long term. |
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Coinseeker
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June 09, 2013, 07:08:26 AM |
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This isn't a correction. It also isn't a test. It's tons of money leaving Bitcoin because people lost interest/faith. But at least we have cheap coins right?
Not yet. Let's hope that was just a warm up. |
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BitPirate
Full Member
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Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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June 09, 2013, 07:12:02 AM |
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This isn't a correction. It also isn't a test. It's tons of money leaving Bitcoin because people lost interest/faith. But at least we have cheap coins right?
Not yet. Let's hope that was just a warm up. Yes, sure. Wouldn't that be SIMPLY WONDERFUL? Cheap coins!!! When it finally reaches the bottom, surely everyone will FLOOD IN to buy them. "SHUT UP AND TAKE MY MONEY", all the noobs will shout as they are desperate to buy into BTC. Banks will be awash with wires to Mt Gox. VCs will be falling over themselves to get a piece of the action. I mean, why wouldn't they? |
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Coinseeker
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June 09, 2013, 07:14:13 AM |
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This isn't a correction. It also isn't a test. It's tons of money leaving Bitcoin because people lost interest/faith. But at least we have cheap coins right?
Not yet. Let's hope that was just a warm up. Yes, sure. Wouldn't that be great? When it finally reaches the bottom, surely everyone will FLOOD IN. "TAKE MY MONEY", all the noobs will shout as they are desperate to buy into BTC. Banks will be awash with wires to Mt Gox. VCs will be falling over themselves to get a piece of the action. I mean, why wouldn't they? None of that has ever been true, so why would that start now? It's only the delusions of the ideological nuts that are being destroyed. It's not like all of them haven't been told repeatedly. I don't feel sorry for any of you. I GUARANTEED this would happen. I find it hilarious and also a potential opportunity.  |
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lucas.sev
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June 09, 2013, 07:15:27 AM |
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This isn't a correction. It also isn't a test. It's tons of money leaving Bitcoin because people lost interest/faith. But at least we have cheap coins right?
Not yet. Let's hope that was just a warm up. Yes, sure. Wouldn't that be SIMPLY WONDERFUL? Cheap coins!!! When it finally reaches the bottom, surely everyone will FLOOD IN to buy them. "SHUT UP AND TAKE MY MONEY", all the noobs will shout as they are desperate to buy into BTC. Banks will be awash with wires to Mt Gox. VCs will be falling over themselves to get a piece of the action. I mean, why wouldn't they? Chill, people are happy because the faster bubble deflates the sooner another one can start forming. Whoops, I mean the sooner steady growth based on expanding economy that is not 90% silkroad can happen. |
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N12
Donator
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Activity: 1610
Merit: 1010
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June 09, 2013, 07:15:44 AM |
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Yes, sure. Wouldn't that be SIMPLY WONDERFUL?
Cheap coins!!!
When it finally reaches the bottom, surely everyone will FLOOD IN to buy them.
"SHUT UP AND TAKE MY MONEY", all the noobs will shout as they are desperate to buy into BTC. Banks will be awash with wires to Mt Gox.
VCs will be falling over themselves to get a piece of the action.
I mean, why wouldn't they?
Agreed, Bitcoin will probably be dead forever then. http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-04-01zeg2011-11-01ztgSza1gSMAzm1g20zm2g200As I said before: This has happened before. It will happen again. |
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chriswilmer
Legendary
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Activity: 1008
Merit: 1000
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June 09, 2013, 07:16:04 AM |
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Someone who dumped 60K bitcoins at 101, is not going to buy back in. Moreover, if they have more btc, they're likely to wait for the rebound to lure more fools into the milking barn...
Noone dropped 60k at 101. Maybe you are talking about the eaten 10k wall? My guess for the reentry in in the 50 range. We might see a bull trap there. Ya agreed. While this hurts my equity it is amazing to watch bitcoin now vs that of a year ago. I just watched 50k btc selloff worth 5 million dollars. Been around this board when we watched it go to 30 then grind to $2 then crawl to $20 then RAMP to the moon. A $100 bitcoin is truly amazing in its own right. Everything about this night is bullish long term. I agree. It's amazing that we have $100 bitcoins at all. It's still so early in the bitcoin game too. |
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Frozenlock
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June 09, 2013, 07:16:56 AM |
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As I said before: This has happened before. It will happen again.
You should say "might". Otherwise many will base their hopes on this. |
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BitPirate
Full Member
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Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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June 09, 2013, 07:18:21 AM |
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As I said before: This has happened before. It will happen again.
You should say "might". Otherwise many will base their hopes on this. +1 |
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