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Bitcoin_is_here_to_stay
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July 28, 2014, 02:46:51 AM |
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Why is this sudden dump?
Apparently it started in China, several minutes before Bitstamp/Bitfinex. Hm? Dump started on BFX People selling because a rally isnt coming. Is there better source of info on the current amount of Bitfinex longs than this https://www.bitfinex.com/pages/stats?It seems that the info there is very delayed. Btw, Finex longs still hovering around 30M, despite all this falling. Strange. |
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ChartBuddy
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Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 28, 2014, 03:00:04 AM |
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JorgeStolfi
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July 28, 2014, 03:06:10 AM |
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Hm? Dump started on BFX
It seems to have started around 2:00 UTC on Huobi and OKCoin, and at about 2:12 on Bitfinex. At 2:12 the Chinese exchanges were already halfway through it. I cannot prove that the late May pump and the recent dumps have Chinese causes, but at least there are some relevant events and vaguely possible explanations in that bucket, but none in the "Western thing" bucket. |
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derpinheimer
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Activity: 896
Merit: 1000
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July 28, 2014, 03:11:02 AM |
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Hm? Dump started on BFX
It seems to have started around 2:00 UTC on Huobi and OKCoin, and at about 2:12 on Bitfinex. At 2:12 the Chinese exchanges were already halfway through it. I cannot prove that the late May pump and the recent dumps have Chinese causes, but at least there are some relevant events and vaguely possible explanations in that bucket, but none in the "Western thing" bucket. There was a 400BTC sell on BFX @ 1:42 |
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kodtycoon
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Activity: 1568
Merit: 1002
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July 28, 2014, 03:14:18 AM |
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Any lower and we'll be in the despair stage.  doesnt it need to go to that stage before it will bubble.. im in that stage already lol |
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JayJuanGee
Legendary
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Activity: 4200
Merit: 12849
Self-Custody is a right. Say no to "non-custodial"
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July 28, 2014, 03:15:09 AM |
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I am wondering whether it is time to buy or not. No sleep for me, I guess.
i guess a good night sleep isn't very valuable to you? most common rookie bitcoiner mistake. set an order and get some sleep... yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call. Thanks for your concern.  I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while... This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly. Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500. Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now? If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest. or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more. It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict. I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers. He's telling you to catch a falling knife. LOL. Bad advice thats not what hes saying hes saying, realize you are not a god and there for cannot predict price movement, so dont try, just have a plan should it go lower. Exactamente!!!!! The plan of investing while the price is going down does NOT need to be exactly how I described it b/c I quickly outlined a viable way to think about preparing for downward BTC price manipulations. For example, I have had about $800 of BTC allocated in fiat for over a month, and I have been just waiting and waiting and waiting for when to buy with that $800. In about a week, I have another $2,000 coming in. That $800 will become $2800. I will probably buy about $1,400 with that, and just wait to see what happens regarding the other $1,400. I hate to run out completely of BTC allocated fiat - just in case the BTC price goes down some more. 'Twas a good read, gents. Thank you. I guess that I'll observe charts for a while and then I'll decide how much to spend on my first BTC order. By the way, when there is quite a bit of increase volume and downward pressures, it may be good to wait to attempt to buy at a low point. A problem with this; however, is that the trend could reverse at any time and then downward turns into upward. |
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derpinheimer
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Activity: 896
Merit: 1000
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July 28, 2014, 03:18:29 AM |
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Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha
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adamstgBit
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Activity: 1904
Merit: 1038
Trusted Bitcoiner
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July 28, 2014, 03:23:30 AM |
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Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha
i am 1 of 4 |
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MoreFun
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Activity: 952
Merit: 1003
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July 28, 2014, 03:25:39 AM |
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Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha
i am 1 of 4 Fonzie is the second and Risto the third, who is the fourth? I'm sure it is not Blitz  |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1038
Trusted Bitcoiner
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July 28, 2014, 03:26:07 AM |
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583.IThinkI'mGoingToPuke!
fuck this, bed time.
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cbeast
Donator
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Activity: 1736
Merit: 1037
Let's talk governance, lipstick, and pigs.
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July 28, 2014, 03:27:00 AM |
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I've been expecting this, but not so soon. I just hope the bounce can wait until the end of August.
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Davyd05
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July 28, 2014, 03:28:48 AM |
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I've been expecting this, but not so soon. I just hope the bounce can wait until the end of August.
money freed up by then. I've been lazy to put the excess fiat to the exchange so I can set order for a true panic sell if they occur.. |
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JayJuanGee
Legendary
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Activity: 4200
Merit: 12849
Self-Custody is a right. Say no to "non-custodial"
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July 28, 2014, 03:32:49 AM |
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583.IThinkI'mGoingToPuke!
fuck this, bed time.
Don't Puke. HODL!!!!!, HODL!!!!!!, HODL!!!!!! |
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spiderbrain
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Activity: 889
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July 28, 2014, 03:37:22 AM |
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Down 5% in a week. Yawn.
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sidhujag
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Activity: 2044
Merit: 1005
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July 28, 2014, 03:40:23 AM |
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looks like I was right about the wedge breaking into a bear. So I think we are headed to $350 to $400... cya there
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BitChick
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Activity: 1148
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July 28, 2014, 03:41:02 AM |
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Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha
i am 1 of 4 2 of 4. Oh well. It really isn't that big of a "crash." I still don't get why people do not see the significance of a hedge fund opening this Friday. That might change everything quickly. I would be panic buying based on that news alone. Granted, I am "all in" so I have nothing more cash to throw in at this point. |
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BayAreaCoins
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AltQuick.com Secretary/PR/Janitor
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July 28, 2014, 03:43:07 AM |
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Bitcoin is at $580s and you guys are worried....
I remember this shit getting to $100 again and being like "The moon...."
rofl quit yalls bitching.. We are headed sub 500's (but in a good way)
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sidhujag
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Activity: 2044
Merit: 1005
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July 28, 2014, 03:43:14 AM |
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Some pretty good arb on cavirtex still trading at $640 cad
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Davyd05
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July 28, 2014, 03:43:25 AM |
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looks like I was right about the wedge breaking into a bear. So I think we are headed to $350 to $400... cya there
i can't wait for that if its true, buyers delight. |
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justusranvier
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Activity: 1400
Merit: 1014
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July 28, 2014, 03:44:23 AM |
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but when we had all the great news rolling in lately, you would think we'd be going up. The longest Bitcoin has ever gone between all time highs was 21 months - from the summer of 2011 until spring of 2013. There was a lot of good news in 2012 too, with little-to-no price action. We're only 7 months past an ATH now. |
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Poll
