billyjoeallen
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April 07, 2014, 02:52:03 PM |
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This may just be a pause as guys like me who dumped this morning @ $458 are buying them back. It could go lower.
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billyjoeallen
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April 07, 2014, 02:53:51 PM |
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Ok, price is roughly stable at $455. What this means is that there is only ~ 65% as much new money coming into bitcoin as there was when price was 53% higher. How is that not extremely bearish? People should be jumping on these cheap coins if in fact they are cheap. This is just another pit stop on the way down, which I HOPE is ~$400 and could easily be lower.
The main arguments on this thread are between those of us who want it to go lower to buy more and those of us who are expecting another choo choo. This can't be capitulation. Where are the guys wanting to cash out for good? Until they all leave, we can't have a recovery. I've been through many points of maximum pain and this is not it. Not even close.
How about those that are leveraged short, would they not want to see the price go to 0$? Don't be ridiculous. If price went to zero, you'd never see your profits. The exchange would close and the guy that owes you money would be wiped out.
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JorgeStolfi
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April 07, 2014, 02:54:28 PM |
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Oh what now? China banned Bitcoin again? Or is it another random rumour?
It is 22:00 in China. May be people returning from the extended holiday and discovering that the price climbed above their dump level. May be some negative mention of bitcoin on the TV news. (Neo & Bee collapse perhaps?)
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oda.krell
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April 07, 2014, 02:55:42 PM |
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It is as sad as this: it did not break the resistance at 460 so the 101 TA gamblers decided it must go down.
Brace yourselves again.
Eh. Maybe we're gamblers, but we're not the ones keeping the price down. I actually agree (to my own surprise) completely with billy: if we see such pathetic volume so close to the previously perceived absolute bottom of 400/380, then that can only mean one thing: it is no longer perceived as the absolute bottom. Everything else follows from that. /2cent
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igorr
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April 07, 2014, 02:55:54 PM |
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Erdogan
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April 07, 2014, 02:56:43 PM |
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Ladies and gentlemen, we are going down. Women and kids first....
As a gentleman, I retreat to the back of the queue, letting others dump first.
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hd060053
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April 07, 2014, 03:00:18 PM |
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Oh what now? China banned Bitcoin again? Or is it another random rumour?
bitcoin cant be banned. nobody can stop you using a brain wallet. they can just make it difficult to trade on a central platform.
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billyjoeallen
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April 07, 2014, 03:00:34 PM |
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I just though of a way a whale can make relatively risk-free profit: Take out a margin short position at the same time you dump. Cover the short when the price drops and lock in your profit. Then buy the coins back. You could do it the same way going up with tons of fiat.
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Erdogan
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April 07, 2014, 03:02:27 PM |
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Oh what now? China banned Bitcoin again? Or is it another random rumour?
bitcoin cant be banned. nobody can stop you using a brain wallet. they can just make it difficult to trade on a central platform. Somebody did not confirm or refute anything. That's why.
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igorr
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April 07, 2014, 03:03:42 PM |
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chromosoma
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April 07, 2014, 03:05:50 PM |
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interesting, at what value people will think the bitcoin story is over and will mass dump everything? 200$? 100$?
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aminorex
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April 07, 2014, 03:07:02 PM |
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I know this is the wrongest place ever to mention this, but I wish the price would just plummet to the point where all the people who are in this for the money would disappear. Bitcoin is about so much more than it's dollar value. We are building something more important than the internet, and it's like people are obsessing over the price of domain names.
Dollar value is the best and brightest validation of the p2p platform. Some people are so convinced of the revolutionary power of bitcoin, and it's timely need, that they think all human value will be priced in bitcoin in the future. To them, a share in the float is a share in the future of mankind, and the ultimate patrimony. You should just be glad they are not killing for it yet. But they will.
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_javi_
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April 07, 2014, 03:10:22 PM |
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A monday without a good dump, it´s not a monday.
Hodling here, as usual...
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Hen0xyd
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April 07, 2014, 03:10:59 PM |
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Are you really going to post this link on each page of this thread... ? Cause I think nothing's new is it and is all based on Caixin publication.
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igorr
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April 07, 2014, 03:14:14 PM |
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Are you really going to post this link on each page of this thread... ? Cause I think nothing's new is it and is all based on Caixin publication. Igorr, like Fonzie, likes to hold onto every little bit of bad or ambigious news and spread it around as if the apacalypse is nigh, no matter how old this news is. Preferably he'll link it a few times more in multiple topics, so that the guys that aren't paying attention think this 'news' will be bad for them. Then just do the opposite, buy much because bitcoin is cheap.
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aminorex
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April 07, 2014, 03:15:15 PM |
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I just though of a way a whale can make relatively risk-free profit: Take out a margin short position at the same time you dump. Cover the short when the price drops and lock in your profit. Then buy the coins back. You could do it the same way going up with tons of fiat.
It's easy to imagine these things. I challenge you to actually achieve them. Dumping means you are losing value with each bitcoin sold, while covering means that you are losing value with each bitcoin bought, as the market moves against you. You're lucky if the whole operation is a wash. Self-dealing in an illiquid market, waiting for alien liquidity to come in, then seizing it, it probably the most straightforward manipulation which can work reliably. The manipulation is accomplished with relatively few coins. The profit is gained in a single high volume swoop. Then you relinquish control of the market, let it stabilize, and try again.
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Cassius
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April 07, 2014, 03:15:34 PM |
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interesting, at what value people will think the bitcoin story is over and will mass dump everything? 200$? 100$?
Good question. I think 380 is psychologically important and below 200 would probably be a decision point for even hardened hodlers Depends when they got in. For hardened HODLers who bought in at $800-1200, what's the point? Might as well sit it out and see what happens.
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hdbuck
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April 07, 2014, 03:20:04 PM Last edit: April 07, 2014, 03:31:11 PM by hdbuck |
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interesting, at what value people will think the bitcoin story is over and will mass dump everything? 200$? 100$?
Good question. I think 380 is psychologically important and below 200 would probably be a decision point for even hardened hodlers Depends when they got in. For hardened HODLers who bought in at $800-1200, what's the point? Might as well sit it out and see what happens. people who were dumb enough to rush in at those prices are noobs and weak hands who didnt research enough when making that decision to invest in BTC. they probably have been shaked so far: they blindly invest during some hype momentum and they are likely to blindly cut the losses during some deep downtrend... ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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chromosoma
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April 07, 2014, 03:21:37 PM |
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I personally doubt that after fall to 100-200$ bitcoin will rise again. Just scare to think about all those people who newly bought all those gridseeds, dragons with THs of power, thinking they will get money back. But now, difficulty is still rising, and value is falling. This hardware will never ever get your money back. Is htere any other purpose for SHA256 ASICs? Can you hack protected files with it? ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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aminorex
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April 07, 2014, 03:22:24 PM |
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interesting, at what value people will think the bitcoin story is over and will mass dump everything? 200$? 100$?
Anything south of 100$ and I'd sell a kidney to buy, if I had to. More likely, I'd tap another rich friend and offer a put-call swap. Rich people love risk-free deals.
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