barbs
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February 28, 2014, 12:35:31 PM |
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No two ways about it. People were buying and selling an asset which didn't exist at the exchange. I don't think 400 will be the bottom this time IMHO
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seleme
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Duelbits.com
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February 28, 2014, 12:35:51 PM |
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I'm afraid we have one more leg down, not mainly because of Gox bankruptcy news but overall, it didn't look last 2 days we're ready for new rally. Gox news could help a bit.
But since even I am finding myself thinking where it will stop than reversal probably isn't too far.
My thoughts as well. The "recovery" already seemed to get stuck yesterday night, and with further price development of today, it's starting to look like we're leaning towards downward breakout. Yep, I sold most of my coins that are not tied in alts last night after last attempt to break 600$ was easily broken. I had targets for rebuy last night but right now, after Gox news, I'm not quite sure when to start buying. And I am bit afraid I might miss the right time as my own thoughts smell on market capitulation soon.
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seleme
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Duelbits.com
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February 28, 2014, 12:37:27 PM |
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The news say that MtGOX lost 750,000 BTC belonging to clients but has only 80 million USD in "liquid liabilities". That means 1 BTC = 100 USD approximately. Are they valuing each BTC deposit with the price at the time the deposit was made? Or are they using the MtGOX price at closure?
Probably the second one, I mentioned it on Gox bankruptcy thread. It makes me wonder if it would be good thing to buy some GoxBTC if price fails more.
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dreamspark
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February 28, 2014, 12:39:09 PM |
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$550 is looking very well defended. Dont think we will cross it on such low volume. Then again there's no reason for shotting back off to the moon either so I think a sideways day or so maybe in order. Unless some whales react and take advantage of the 'news'.
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TERA
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February 28, 2014, 12:39:47 PM |
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Closing in on 200EMA again - everyone's favorite time to panic for whatever reason.
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dreamspark
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February 28, 2014, 12:40:46 PM |
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Probably the second one, I mentioned it on Gox bankruptcy thread. It makes me wonder if it would be good thing to buy some GoxBTC if price fails more.
How would you go about recovering money then if Josh has all the coins? I cant see him receiving a sum of money and then sending out 100's of wires. Furthermore you don't know how long it will take and by the time you see any money the btc you spent could be worth more than the gain.
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mmitech
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things you own end up owning you
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February 28, 2014, 12:40:46 PM |
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I'm afraid we have one more leg down, not mainly because of Gox bankruptcy news but overall, it didn't look last 2 days we're ready for new rally. Gox news could help a bit.
But since even I am finding myself thinking where it will stop than reversal probably isn't too far.
My thoughts as well. The "recovery" already seemed to get stuck yesterday night, and with further price development of today, it's starting to look like we're leaning towards downward breakout. I will add some analyzes and feel free to discuss its validity:
looking to 4h charts the bear market just started : there is a periods crossover looking to 6h charts the bear market will be starting (continueing from the 4h chart cycle) : there periods will crossoverlooking to 12h charts the bear market will be starting (continueing from the 6h chart cycle ) : there periods will crossoverlooking to 3d charts the bear market didn't even end and the down trend continue, and after few days from that 400 crash the bottom didn't even form and the indicators didn't even get close to crossing (continueing from the 6h chart cycle ) :
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DougTanner
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February 28, 2014, 12:41:01 PM |
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How could they possibly have lost 850,000 BTCs? No cold wallet at all?
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Loozik
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Born to chew bubble gum and kick ass
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February 28, 2014, 12:42:25 PM |
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I don't think 400 will be the bottom this time IMHO
Gox's collapse will be a huge blow to bitcoin. Expect lots of ignorant merchants to simply withdrew from accepting bitcoins and expect potentially new merchants abandon their plans to start accepting bitcoins. Bottom will be well below 400 and if btc ever recovers it might take years.
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oda.krell
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February 28, 2014, 12:42:55 PM |
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The news say that MtGOX lost 750,000 BTC belonging to clients but has only 80 million USD in "liquid liabilities". That means 1 BTC = 100 USD approximately. Are they valuing each BTC deposit with the price at the time the deposit was made? Or are they using the MtGOX price at closure?
Probably the second one, I mentioned it on Gox bankruptcy thread. It makes me wonder if it would be good thing to buy some GoxBTC if price fails more. There's of course that 1.5k wall at 552, so it'll be a question of whether enough momentum develops to break through or not.
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zyk
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February 28, 2014, 12:44:32 PM |
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How could they possibly have lost 850,000 BTCs? No cold wallet at all? Fuck..didn´t you get the memo...Gox was an insider outlay at the head of the chain - letter...sayonara !!
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Searing
Copper Member
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Clueless!
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February 28, 2014, 12:44:56 PM |
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The news say that MtGOX lost 750,000 BTC belonging to clients but has only 80 million USD in "liquid liabilities". That means 1 BTC = 100 USD approximately. Are they valuing each BTC deposit with the price at the time the deposit was made? Or are they using the MtGOX price at closure?
Probably the second one, I mentioned it on Gox bankruptcy thread. It makes me wonder if it would be good thing to buy some GoxBTC if price fails more. There's of course that 1.5k wall at 552, so it'll be a question of whether enough momentum develops to break through or not. heh...sorry guys btc is dropping not because of the mtgox declaring bankruptcy...it is cause i bought 0.83868613 of coin 2 hrs ago.....(it is always me...picking the wrong time to do stuff) anyway i'll not do anything else less i break it down farther Searing (fun hobby huh! all the fun of the aftermath of a tornado touchdown)
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600watt
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February 28, 2014, 12:47:41 PM |
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How could they possibly have lost 850,000 BTCs? No cold wallet at all? if it looks like an inside job, smells like an inside job and tastes like an inside job i guess it was an: inside job.it went on for a longer time. if it would have been an acute problem, mk would have been communicating with customers way more direct, authentic, shocked. he knew it. maybe did it. edit:
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TERA
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February 28, 2014, 12:49:09 PM |
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WHAT DID I tell you guys before lol. As soon as we get the overdue correction, everyone starts theorizing about the continuation of the bear market and how awful the gox situation is. Then miss their buying opportunity because they are waiting for some ridiculous 300 or whatever.
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yrtrnc
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February 28, 2014, 12:49:58 PM |
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How could they possibly have lost 850,000 BTCs? No cold wallet at all? if it looks like an inside job, smells like an inside job and tastes like an inside job i guess it was an: inside job.it went on for a longer time. if it would have been an acute problem, mk would have been communicating with customers way more direct, authentic, shocked. he knew it. maybe did it. He done it 99.99%
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magicmexican
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February 28, 2014, 12:50:13 PM |
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Paul Buitink @paulbuitink · 2h
According to my source it was the leaking of the crisis doc that ultimately killed the rescue of Gox
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koryu
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February 28, 2014, 12:50:37 PM |
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i will wait exactly 10min before i will buy back in get ready guys
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oda.krell
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February 28, 2014, 12:52:30 PM |
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I'm afraid we have one more leg down, not mainly because of Gox bankruptcy news but overall, it didn't look last 2 days we're ready for new rally. Gox news could help a bit.
But since even I am finding myself thinking where it will stop than reversal probably isn't too far.
My thoughts as well. The "recovery" already seemed to get stuck yesterday night, and with further price development of today, it's starting to look like we're leaning towards downward breakout. I will add some analyzes and feel free to discuss its validity:
[....]
Well, here's my comment on it: Your analysis makes sense, but except for the last one it's all based on momentum trading, which usually works, until it doesn't anymore... especially now that there is probably quite a few in here who think we're maybe still not rallying, but that the bottom is in... which can translate into "let's start buying in again, since we're near the bottom anyway" rather quickly. That said, I also see more evidence that we're going back into the lower half of the 500s again, since breaking 600 doesn't seem to be an option either right now, and the momentum is still downwards on any recent time scale bigger than 3 days.
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F-bernanke
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February 28, 2014, 12:53:38 PM |
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your forgot the 1d MACD, which is turning green.
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zyk
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February 28, 2014, 12:53:51 PM |
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How could they possibly have lost 850,000 BTCs? No cold wallet at all? if it looks like an inside job, smells like an inside job and tastes like an inside job i guess it was an: inside job.it went on for a longer time. if it would have been an acute problem, mk would have been communicating with customers way more direct, authentic, shocked. he knew it. maybe did it. He done it 99.99% The fall guy gets his share but the real money already went offshore as bitcoin-community is a bunch of helpless lost speculator fucktards
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