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notig (OP)
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May 01, 2013, 03:13:54 AM |
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Just saw a ton of coins get dumped. ANd i'm not seeing a huge immediate bounce back either
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johnblaze
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May 01, 2013, 03:19:06 AM |
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10k of coins were dumped and for now the seller is done. support held. we shall see going forward
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notig (OP)
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May 01, 2013, 03:23:04 AM |
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so what's everyones call?
buying pressure (I think that's the term? ) has been low for days. I was thinking today it would change because it's the day after a bank holiday in japan.
This coming Friday/sat/sun/mon is also a banking holiday. Not sure if that will affect the price.
The price slipped from 137 to 133 with that massive sell off... and there are 606 coins in the way of being under 130.
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underground_
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May 01, 2013, 03:24:45 AM |
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This is starting to look more and more like 2011...  |
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Wuji
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Activity: 56
Merit: 0
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May 01, 2013, 03:27:05 AM |
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Silk Road just came on line and I'm sure it is just some scared folks cashing out fast. My gut says a lot of Silk road users have faith in the site and this might not be too bad. I wouldn't be surprised though to see sub 100 tomorrow but with all the exuberant speculators it will probably bounce back. Even though I don't see fundamentals and believe it is still speculation I'll probably buy more below 100. I don't see this being the cause of a massive crash below $50.
The facts and figures don't exists for me to analyse serious fundamentals but my gut says there are far more believers than we are about to see panic selling. When dealing with speculation bubbles you just have to watch daily and try to go with your logic and not get emotional with the herd.
I'm not sure Silk Road fixed anything since DPR didn't mention it. Perhaps this Silk Road DDOS was just a big push for a panic sell for more buy in. At least we can hope.
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johnblaze
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May 01, 2013, 03:31:39 AM |
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This is starting to look more and more like 2011... interesting.. |
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SlipperySlope
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May 01, 2013, 03:33:14 AM |
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This is starting to look more and more like 2011... If that is indeed the case then there should be a battle to break through below $120. |
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MOB
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May 01, 2013, 03:37:40 AM |
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Silk Road just came on line and I'm sure it is just some scared folks cashing out fast.
What does SR coming back online have to do with anything? Anyone with 10K coins is not a Silk Road affectionado. 10K coins makes that person one of the wealthiest .05% of the bitcoin community, not some "scared folk." |
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Wuji
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May 01, 2013, 03:41:06 AM |
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Silk Road just came on line and I'm sure it is just some scared folks cashing out fast.
What does SR coming back online have to do with anything? Anyone with 10K coins is not a Silk Road affectionado. 10K coins makes that person one of the wealthiest .05% of the bitcoin community, not some "scared folk." It was down for several days and a lot of drug dealers have massive amounts of coins. The fear of not being able to access those coins in their accounts probably has them cashing out. We aren't talking about 1 guy, we are talking about 1000+ drug dealers all selling at once and drug buyers as well. |
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underground_
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May 01, 2013, 03:46:24 AM |
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Larger sell walls appearing now. Profit taking is about to ensue.  |
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notig (OP)
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May 01, 2013, 03:47:24 AM |
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bassclef
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May 01, 2013, 03:48:34 AM |
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source?
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seleme
Legendary
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Activity: 2772
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Duelbits.com
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May 01, 2013, 03:49:41 AM |
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bullshit, posted month ago
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Wuji
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May 01, 2013, 03:50:12 AM |
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Fincen is anti-money laundrying and can't make Bitcoins illegal. Down vote and report that FUD. It is not true. Only the Federal Reserve, US Mint or POTUS/Congress could do such a thing. |
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Wuji
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May 01, 2013, 03:52:26 AM |
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The huge sell volume happened instantly as Silk Road came online. I have been watching charts and Silk Road minute by minute. It has nothing to do with that fake Reddit crap.
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notig (OP)
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May 01, 2013, 03:53:24 AM |
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so what are the users of silk road afraid of? if that is them dumping?
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MOB
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May 01, 2013, 03:53:45 AM |
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Silk Road just came on line and I'm sure it is just some scared folks cashing out fast.
What does SR coming back online have to do with anything? Anyone with 10K coins is not a Silk Road affectionado. 10K coins makes that person one of the wealthiest .05% of the bitcoin community, not some "scared folk." It was down for several days and a lot of drug dealers have massive amounts of coins. The fear of not being able to access those coins in their accounts probably has them cashing out. We aren't talking about 1 guy, we are talking about 1000+ drug dealers all selling at once and drug buyers as well. Got it. Read the SR thread--makes sense now. Put in my buy's at 112.... |
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zeroday
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May 01, 2013, 03:56:13 AM |
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127. time to buy  |
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underground_
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May 01, 2013, 03:57:03 AM |
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127. time to buy Not until after we've had a few more 10k dumps. |
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Wuji
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May 01, 2013, 04:01:27 AM |
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Be warned all these buyers propping the price had in buy orders long ago and aren't gobbling up cheap coins. They were thinking it wouldn't go this low. I have no idea what will happen in 7-8 hours when the east coast wakes up and sees the price drop. However, a panic sell is not out of the question. If you think $130 is a great deal get some coins but, don't be upset if tomorrow people freak out and we see another $55-$70 dip. I'd spread those buy orders down and not buy all in right this second. Just my own thought, I could be wrong, don't follow my advice and get mad at me.  |
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