geewiz
Newbie
 Offline
Activity: 7
Merit: 0
|
 |
April 26, 2013, 01:56:28 AM |
|
I saw this coming...
|
|
|
|
|
|
BitshireHashaway
|
|
April 26, 2013, 02:03:53 AM |
|
hmmmm author trying to create panic and somehow profit from it by posting in newbie thread  ? I dont think there are enough supply here to actually create a panic... agree  Still, it could be interesting to see if it had any results. |
|
|
|
|
Skybits
Newbie
Offline
Activity: 12
Merit: 0
|
|
April 26, 2013, 02:39:04 AM |
|
Whats causing this crash? Mt. gox isnt getting another ddos attack and people aren't really panicking. So are people just taking profits or are they really buying LTC?
|
|
|
|
|
eyesore
Newbie
Offline
Activity: 14
Merit: 0
|
|
April 26, 2013, 02:48:08 AM |
|
Whats causing this crash? Mt. gox isnt getting another ddos attack and people aren't really panicking. So are people just taking profits or are they really buying LTC?
I think once too many people sell, everyone FREAKS OUT and sells Most of us would not be daytrading with out "REAL money" but it's so fun to do with "coins" we think we can play market just like the wall street guys  |
|
|
|
|
Serjster
Newbie
Offline
Activity: 37
Merit: 0
|
|
April 26, 2013, 02:59:52 AM |
|
Why do people call it a crash? It's technically not a crash until it hits 0. Everyone knows that BitCoin is highly volatile. Not sure how I feel about it not going below $90, I could see it happening.. I think the floor right now is still $50ish. The market still feels very bearish. We might be testing $110 even today...if it breaks though $110 who know how low it can go after that. *I am not an expert investor. Please do not take my statement as anything more than thinking out-loud.
|
|
|
|
|
bitleif
Sr. Member
Offline
Activity: 351
Merit: 250
I'm always grumpy in the morning.
|
|
April 26, 2013, 07:09:54 AM |
|
Whats causing this crash? Mt. gox isnt getting another ddos attack and people aren't really panicking. So are people just taking profits or are they really buying LTC?
For the exact same reason every other market crashes? Bubbles are part of human psychology. Also the exact same reason we went from $5 to $266 then back to $50. I'm still bullish long-term, but this correction was natural at this point. BTW there was never a "DDoS attack", just a buttload of traffic caused by market fervor. They even said as much here: https://mtgox.com/press_release_20130411.html |
|
|
|
|
bitleif
Sr. Member
Offline
Activity: 351
Merit: 250
I'm always grumpy in the morning.
|
|
April 26, 2013, 07:16:45 AM |
|
Why do people call it a crash? It's technically not a crash until it hits 0. Everyone knows that BitCoin is highly volatile. Not sure how I feel about it not going below $90, I could see it happening.. I think the floor right now is still $50ish. The market still feels very bearish.
So far this is following the 2011 playbook exactly. Slow buildup, sudden explosion to the top, crash, sharp rebound and suckers rally, then crash again. The next part would be a slow decline over several months, then slowly regaining a bull market. Note however that we NEVER reached as low as the pre-bubble values - meaning that the after-bubble lows were still much higher than the pre-bubble lows. I think this will be the case again this time. |
|
|
|
|
AverageAlien
Newbie
Offline
Activity: 6
Merit: 0
|
|
April 26, 2013, 07:19:00 AM |
|
It also has to do with the amount of bots being used... A lot of bots use a "stop-loss" system where if they see the trend is going down, they will sell everything. So you get tons of bots selling and crashing the market.
|
|
|
|
|
|
zachcope
|
|
April 26, 2013, 09:28:50 AM |
|
Still waiting for the fall...
Have buy orders at $110 but keep taking them down again to let my $60 order stand.
Long term I'm a bull but just don't have enough BTC (in my dreams BTC1000 is the magic number), so need to speculate a little.
|
|
|
|
hopelessinvestor
Newbie
Offline
Activity: 39
Merit: 0
|
|
April 28, 2013, 07:11:44 PM
Last edit: April 28, 2013, 08:01:25 PM by hopelessinvestor |
|
I think it's easy to read when BTC prices go up too fast. It jumped to $160 fairly rapidly. My guess is, day traders made their profit for the day. Started selling, price starts to drop. People start posting CRASH. Fear starts to spread, more people sell. Prices drop more. More posts of CRASH CRASH CRASH. Prices drop from people selling. THen eventually the day traders and investors see, BUY OPPORTUNITY. BUY BUY BUY. prices go up. Beautiful correction. All is well for another day. I'm just ranting. Have a good day fellow BTC investors.
|
|
|
|
|
Toschi
Newbie
Offline
Activity: 25
Merit: 0
|
|
April 28, 2013, 07:50:47 PM |
|
I believe we will see 160$ this week for bitcoins and 5$ for LTC...If LTC were trade on MTGOX, we will reach 20$ easily
|
|
|
|
|
LTC99
Newbie
Offline
Activity: 14
Merit: 0
|
|
April 28, 2013, 08:23:34 PM |
|
BTC will spiral and climb, i am surprised now by how stable it has been recently...
|
|
|
|
|
pointychimp
Newbie
Offline
Activity: 20
Merit: 0
|
|
April 28, 2013, 08:27:08 PM |
|
I believe we will see 160$ this week for bitcoins and 5$ for LTC...If LTC were trade on MTGOX, we will reach 20$ easily
My personal opinion is that none of the cryptocurrencies other than Bitcoin are being taken seriously enough by a high enough percentage of their users in order to last. I recently converted the few LTC I mined to BTC and am waiting for them to return to their normal price. Then maybe I'll buy a couple more. I'm pretty sure that's what most people are doing with LTC and other smaller currencies. |
|
|
|
|
treiq
Newbie
Offline
Activity: 28
Merit: 0
|
|
April 28, 2013, 08:57:55 PM |
|
I don't understand why people are still amazed by this. Just have balls of steel and follow the market. I had 1 bitcoin i mined on BTC-e and turned it into 3.5 by just day trading for 2 days. That was last week, but anyways, you can pretty much see how the market is going to react when it has been pumped for some hours.
|
|
|
|
|
|
