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Author Topic: the crash is over?  (Read 4525 times)
rpietila
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April 17, 2013, 08:04:16 AM
 #21

I think the worst is behind us. The market has tried to break through the $50 support twice and failed, this gives confidence and makes speculators afraid to try that a third time and fail again. We're going up again with a slowly rising support level is my opinion.

We have tried it 4 times now:
- During the time Mt.Gox was closed for 12 hours, in Bitstamp and other exchanges
- Immediately after Mt.Gox was opened, in MtGox
- About 12 hours after it was opened, in MtGox
- Yesterday, in MtGox

It is starting to feel strong.. Maybe it will fall next  Grin
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oakpacific
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April 17, 2013, 08:09:50 AM
 #22

I think the worst is behind us. The market has tried to break through the $50 support twice and failed, this gives confidence and makes speculators afraid to try that a third time and fail again. We're going up again with a slowly rising support level is my opinion.

I am fairly sure we will only go up when the bears have completely blown their wads and got nothing more to burn.

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April 17, 2013, 08:10:21 AM
 #23

I wouldn't worry. Fundamentals are still there.

In no particular order:

1) Deposit confiscation is getting worldwide
2) Limited bitcoin supply is there.
3) Mtgox and others should be stronger than ever, in terms of machinery and capital.
4) Bitcoin transactions are more than ever. Look here http://blockchain.info/el/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

5) The number of involved people is bigger than ever. Look here http://blockchain.info/el/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

 Grin
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April 17, 2013, 08:34:29 AM
 #24

If this bubble took a month to peak ( and it took longer than that) doesn't it stand to reason that it will take at least a month to get back to some kind of stability?

People are pointing to $50 because its a nice round number, I think it will drop to where we were at the beginning of March because we all know MTGox is broken, and that does cause more doubt than you can make a graph with! Smiley


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April 17, 2013, 08:38:58 AM
 #25

Looks to me like it's stabilizing.
zoolander
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April 17, 2013, 08:59:43 AM
 #26

I feel a change in the wind, but I have to say I'm still very dubious that things have shaken out this quickly. I'm still bearish overall.

That said, I didn't expect my buy orders that were just above $50 to kick till the end of the week if this was a long slide down - so could this really be a big correction rather than a crash? If $50 was the bottom then I'll be a bit gutted that I didn't buy more (I was expecting $40 or lower).

Stating the obvious I think we can expect more volatility either way. Hold on to your hats. Wink
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April 17, 2013, 09:10:55 AM
 #27

39K BTC Bid wall at 70$ and it's rising. Looks like all the sellers are getting back in the game.
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April 17, 2013, 09:12:09 AM
Last edit: April 18, 2013, 07:20:02 AM by Dr3AM$cAp3
 #28

Speculating....keeps you up at night.  Roll Eyes


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April 17, 2013, 09:12:35 AM
 #29

39K BTC Bid wall at 70$ and it's rising. Looks like all the sellers are getting back in the game.

I agree  Grin

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April 17, 2013, 09:31:39 AM
 #30

I feel a change in the wind, but I have to say I'm still very dubious that things have shaken out this quickly. I'm still bearish overall.

That said, I didn't expect my buy orders that were just above $50 to kick till the end of the week if this was a long slide down - so could this really be a big correction rather than a crash? If $50 was the bottom then I'll be a bit gutted that I didn't buy more (I was expecting $40 or lower).

Stating the obvious I think we can expect more volatility either way. Hold on to your hats. Wink

If BTC/USD can double and then crash to half in a day, it can bottom and stabilise in a week -- and that is what it appears to be doing.

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April 17, 2013, 09:41:32 AM
 #31

Crash is over, correction will continue...


Thank you so much for your information.
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April 17, 2013, 09:47:38 AM
 #32

Nope, it's crashing upwards now  Undecided
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April 17, 2013, 09:54:11 AM
 #33

Nope, it's crashing upwards now  Undecided

it's hilarious how perfectly sentiment lags price. when everyone was all doom and gloom, this rally was born. now that everyone's on board, it's topping. short term top at $8x.xx

selling pressure, ON!

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April 17, 2013, 02:07:21 PM
 #34

I think the worst is behind us. The market has tried to break through the $50 support twice and failed, this gives confidence and makes speculators afraid to try that a third time and fail again. We're going up again with a slowly rising support level is my opinion.

I am fairly sure we will only go up when the bears have completely blown their wads and got nothing more to burn.


hahah really made me laugh glad i wasn't drinking a hot coffee

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annette786
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April 18, 2013, 12:17:02 AM
 #35

I don't know if it's over, but I do know that I've never trading something so resilient as BTC.  All those little crashes on they way to 260 were blips after a few days. 

It's because there are no shorts.  Everyone that is trading is long by definition.  If they sell, it's to buy back at a lower price or to take profits.

It creates massive swings, but has huge upside.


antimattercrusader
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April 18, 2013, 12:38:53 AM
 #36

I don't know if it's over, but I do know that I've never trading something so resilient as BTC. 


+1

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April 18, 2013, 01:07:07 AM
 #37

You guys are so cute.
blueberry
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April 18, 2013, 02:15:22 AM
 #38

We double bottomed around $50. If you didn't buy on the dip or panicked and sold your coins for cheap, then commiserations.
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April 18, 2013, 02:20:20 AM
 #39

looks very stable to me, lets see how it ends up by the end of the week
blueberry
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April 18, 2013, 02:25:36 AM
 #40

looks very stable to me, lets see how it ends up by the end of the week

Yes, I hope it stabilizes soon. I can't sleep with all this 24/7 volatility.  Angry
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