This is just the beginning of the crash.

[NikolaTesla]

http://i39.tinypic.com/34dr3hv.jpg

Today we saw a flash crash to 121, a dead cat bounce back to 140, followed by a steady decline back to the mid 120's. Investor confidence continues to be shattered every week the market does this. No smart money is moving in, I guarantee you no smart investors are saying "hey look what the price has been doing the last few weeks, let's put all our money into bitcoin!"

Public interest is the lowest it's been all month, as indicated by search volume and bitcoin client downloads (someone made a thread about this somewhere.) The hype and euphoria that lead us from single digits all the way up to triple digits is all but gone and this vessel is falling back down to earth.

Something to keep in the bigger picture perspective: Just 3 months ago, the price was under $20, and 6 months ago was under $10. Absolutely nothing has changed fundamentally since then. Transaction volume is still roughly the same, meaning bitcoin has not seen any significantly wider adoption as a currency in the last 6 months. It has only seen wider adoption as a speculative investment, but those people are getting their money out, and quitting while they're ahead, or cutting their losses.

Once the dust has settled and the market has fully crashed back to pre-2013 levels, we'll finally see some stability as the speculators will be gone (which I admit I am one of them, but I won't be gone, I'll still be here making money) and BTC will be back to being used for its intended purpose. 2011 all over again? Here we come.

[smoothie]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

[smoothie]

Translation of OP: "I want to buy back cheap in otherwise I wouldn't be posting on this forum"

[superduh]

why do you feel the need to spam this board with your buddies?

[Jaroslaw]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

[NikolaTesla]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

https://i.imgur.com/0YieCBj.jpg

Which is exactly what virtually all speculative bubbles do. Dot-com bubble, housing bubble, etc all look like that; there is the peak then the drop then the "bounce" back up, then the real drop.

[smoothie]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

LOL Drawing an arrow in the direction you want the price to go doesn't make the price go to your price target lol

[superduh]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

Which is exactly what virtually all speculative bubbles do. Dot-com bubble, housing bubble, etc all look like that; there is the peak then the drop then the "bounce" back up, then the real drop.

if wrong can you promise to not post for a year?

[arepo]

No smart money is moving in, I guarantee you no smart investors are saying "hey look what the price has been doing the last few weeks, let's put all our money into bitcoin!"

wrong. smart money knows that the best time to purchase an asset is when it is extremely oversold.

[Jaroslaw]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

Which is exactly what virtually all speculative bubbles do. Dot-com bubble, housing bubble, etc all look like that; there is the peak then the drop then the "bounce" back up, then the real drop.

I agreee with you 100% look at this

[NikolaTesla]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

https://i.imgur.com/0YieCBj.jpg

Which is exactly what virtually all speculative bubbles do. Dot-com bubble, housing bubble, etc all look like that; there is the peak then the drop then the "bounce" back up, then the real drop.

if wrong can you promise to not post for a year?

I've never been wrong on this forum about price direction.

[smoothie]

I love how people keep trying to compare bitcoin to stocks etc.

So many people claimed $32 in 2011 was the absolute top forever.

Now where are those people? Dead? Yes they are silent.

You too will be outted once the price breaks above $266.

Whether this week, next month or the end of the year.

[GigaCoin]

Today we saw a flash crash to 121, a dead cat bounce back to 140, followed by a steady decline back to the mid 120's. Investor confidence continues to be shattered every week the market does this. No smart money is moving in, I guarantee you no smart investors are saying "hey look what the price has been doing the last few weeks, let's put all our money into bitcoin!"

Public interest is the lowest it's been all month, as indicated by search volume and bitcoin client downloads (someone made a thread about this somewhere.) The hype and euphoria that lead us from single digits all the way up to triple digits is all but gone and this vessel is falling back down to earth.

Something to keep in the bigger picture perspective: Just 3 months ago, the price was under $20, and 6 months ago was under $10. Absolutely nothing has changed fundamentally since then. Transaction volume is still roughly the same, meaning bitcoin has not seen any significantly wider adoption as a currency in the last 6 months. It has only seen wider adoption as a speculative investment, but those people are getting their money out, and quitting while they're ahead, or cutting their losses.

Once the dust has settled and the market has fully crashed back to pre-2013 levels, we'll finally see some stability as the speculators will be gone (which I admit I am one of them, but I won't be gone, I'll still be here making money) and BTC will be back to being used for its intended purpose. 2011 all over again? Here we come.

I hope you are wrong, I believe in Bitcoin & crypto currencies and i personally wouldn't want to wait a while for it to come back (i'm sick and tired of Fiat hyper inflation), it needs to keep going strong above $120. Infact if the scenario you're talkin about plays out, i see bitcoin dying forever eventually replaced by another coin. Don't think for a moment there aren't individuals, groups and corporations working to create the next technologically superior Cryptocurrency as we speak, And BitCoin will be nothing more than an "Experiment" as other superior crypto coins arise. Ripple and all the other alt coins are a good example of what is to come. All the ppl wishing for a major BitCoin crash don't realize another mega crash will KILL bitcoin, and your "cheap" coins you wished for will stay "cheap". 

[Jaroslaw]

I love how people keep trying to compare bitcoin to stocks etc.

So many people claimed $32 in 2011 was the absolute top forever.

Now where are those people? Dead? Yes they are silent.

You too will be outted once the price breaks above $266.

Whether this week, next month or the end of the year.

Are you stupid or what ? its 2nd boublle. People who brought in in 2013 dont know shit about 2011 boubble.

[NikolaTesla]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

https://i.imgur.com/0YieCBj.jpg

Which is exactly what virtually all speculative bubbles do. Dot-com bubble, housing bubble, etc all look like that; there is the peak then the drop then the "bounce" back up, then the real drop.

I agreee with you 100% look at this

https://i.imgur.com/DN2WhTg.gif

Yup. That nasdaq bubble looks almost identical to the current bitcoin bubble. Exact same attitude among investors, too. Invest to get rich without analyzing fundamentals - that's what caused the dot com bubble, and is what is causing the current btc bubble.

[AmazonStuff]

[nkspace]

HAHAHA  i love how smoothie always has 255 dollars as the price barrier, smoothie we know you bought in at 255 dollars, stop trolling becouse of it

[Jaroslaw]

Zoom out on the time frame for your graph.

LOL tunnel vision syndrome in the house.

im zoom out and then see this:

Which is exactly what virtually all speculative bubbles do. Dot-com bubble, housing bubble, etc all look like that; there is the peak then the drop then the "bounce" back up, then the real drop.

if wrong can you promise to not post for a year?

And if im right you give me 10BTC

[arepo]

there is way too much FUD on this subforum for us to do anything but go right back up...

[bitleif]

HAHAHA  i love how smoothie always has 255 dollars as the price barrier, smoothie we know you bought in at 255 dollars, stop trolling becouse of it

Maybe he's just restricted to 8 bit values?