This is just the beginning of the crash.

[fitty]

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!"

Wish there was a feature on this forum to auto ignore anyone who uses "dead cat bounce". Fastest way to spot people who have no fucking clue what they're talking about.

Do these "OMFG it's over" threads actually help push the price down? Just wait for a drop and buy back in like a normal person.

+1 I can't stand these noob idiots. They are the turds turning this place into a sceptic tank. I don't care if someone is a bear, but a couple of these late March 2013, early April 2013 guys are losers.

If you actually check out their posts, they turn into a cheerleader when they buy in. When they sell, it's doom and gloom trying to push the price down so they can get back in. There's so many more traders, more money, I can't imagine these threads actually push the market either way. When people are holding BTC it's RALLY/BULL/TO THE MOON. When they have USD it's "BTC WILL BE WORTH $0!". Just wait for a spot to buy back in like every other day trader and go easy on the forum spam.

[NamelessOne]

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!"

Wish there was a feature on this forum to auto ignore anyone who uses "dead cat bounce". Fastest way to spot people who have no fucking clue what they're talking about.

Do these "OMFG it's over" threads actually help push the price down? Just wait for a drop and buy back in like a normal person.

+1 I can't stand these noob idiots. They are the turds turning this place into a sceptic tank. I don't care if someone is a bear, but a couple of these late March 2013, early April 2013 guys are losers.

If you actually check out their posts, they turn into a cheerleader when they buy in. When they sell, it's doom and gloom trying to push the price down so they can get back in. There's so many more traders, more money, I can't imagine these threads actually push the market either way. When people are holding BTC it's RALLY/BULL/TO THE MOON. When they have USD it's "BTC WILL BE WORTH $0!". Just wait for a spot to buy back in like every other day trader and go easy on the forum spam.

Yeah I've noticed that also, haha, they are just in bear mode right now. So lame!

[BrightAnarchist]

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.

100% agree. With one caveat however, which is the degree: this latest bubble ended a move that's one degree larger than the 2011 bubble, so the subsequent decline should be long and drawn out, but ultimately much deeper. Be prepared for a lot of false rallies that last weeks and weeks, followed by steep drops. We're in one of the largest rallies now, but it should be constrained by the ATH and ultimately lead to a continuation of the bear market.

[arepo]

100% agree. With one caveat however, which is the degree: this latest bubble ended a move that's one degree larger than the 2011 bubble, so the subsequent decline should be long and drawn out, but ultimately much deeper. Be prepared for a lot of false rallies that last weeks and weeks, followed by steep drops. We're in one of the largest rallies now, but it should be constrained by the ATH and ultimately lead to a continuation of the bear market.

the bear market is a myth. we just experienced a massive bubble and market correction to the most bullish period in bitcoin history. we stopped short right above the mid-term trend, and $120 held. we retraced 80% in 3 days -- the market quickly and efficiently deflated the bubble. this is nothing like the June event and you are misleading yourself by comparing them.

[Tuxavant]

Are you bears completely missing the fact of entire countries just now becomming aware of Bitcoin?

Tens of thousands waiting in line for verification at MTSMucks, China tops downloads of the client, Africa's and Argentina's interest and adoption?

I think you guys are either blind, crazy, or butthurt manipulators.

[samson]

Africa's and Argentina's interest and adoption?

African adoption, that's some complete 'bull'shit there.

[Tuxavant]

Africa's and Argentina's interest and adoption?

African adoption, that's some complete 'bull'shit there.

So I can put you on record as saying Bitcoin will not ever become widely used in Africa. Check.

[nobbynobbynoob]

So I can put you on record as saying Bitcoin will not ever become widely used in Africa. Check.

And, given that I was already shipping some BTC to a friend in Botswana last year...

[Brushan]

With the new BITS technology African adoption is just a matter of time. They have already been using M-Pesa for years and are already accustomed to mobilephone payments. Just give it a couple of months and it will be huge over there.

[BTC-Market]

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.

100% agree. With one caveat however, which is the degree: this latest bubble ended a move that's one degree larger than the 2011 bubble, so the subsequent decline should be long and drawn out, but ultimately much deeper. Be prepared for a lot of false rallies that last weeks and weeks, followed by steep drops. We're in one of the largest rallies now, but it should be constrained by the ATH and ultimately lead to a continuation of the bear market.

Also be prepared for a lot more failed predictions from NikolaTesla. You think last week's failed spam FUD threads were bad? Wait until this week!

[MAbtc]

Not trying to hate or anything... but what is the bull counterpart to FUD? Lot of that going on around here.

[notme]

Not trying to hate or anything... but what is the bull counterpart to FUD? Lot of that going on around here.

Hope, false certainty, and overconfidence

[superduh]

seems the newbs who posted all nonsense go quiet when the price keeps going up.
mind you when it drops by 5% they will be back talking about how it's going down to 30.
either they are smart or have nothing better do to with their lives

[Wuji]

Not trying to hate or anything... but what is the bull counterpart to FUD? Lot of that going on around here.

Irrational exuberance!!!


I haven't really been bearish or bullish mostly on BTC except during certain prices. At $8 I was a super bull and buying it up and over $200 I was bearish and sold.  Thus I haven't had any hate thrown at me.  I try to keep my posts rational and ask serious questions adding all information to my personal valuation.

Anyway when the price is going up I tend to lurk because anything that can be slightly taken as negative will be assaulted with name calling like idiot, moron, retard.  This is what people do when they don't have logical valid arguments to justify their position.  I'm not sure exactly what BTC is worth right now because it is pure speculation and greed.  There are many great things that could bring this speculation to real value and push it to $1000.  We will see.

Anyway irrational exuberance is why most of those with critical thinking skills and legitimate concerns tend to shut up around here.  No one wants to be holding the red cape when the bulls come attacking!  Many people here are just not very civil in their debate.

For a good laugh - http://en.wikipedia.org/wiki/Irrational_exuberance
Better info - http://www.investopedia.com/terms/i/irrationalexuberance.asp