Where is the long drawn out crash/crash I want my cheap BTC

[jubalix]

hey shouldn't we be down at $70 or less by now...where are my cheap(er) BTC's and why no crash......go back to $2!!!!

[Miz4r]

Not gonna happen sorry. Buy now during the low volume weekend dip because after today this volcano is going to erupt violently.

[Coinseeker]

I still believe double digits is coming.  $70 may be realistic at some point.  I don't buy the "Bitcoin is stable" argument for one second.  Now, I have held the view that we'd retest our lows at 50-60 but our low might be higher than that now.  Bad news is, $2 is never happening and if it does, it's because BTC is about to die.  The single digit coin ship has certainly sailed.

[jubalix]

I still believe double digits is coming.  $70 may be realistic at some point.  I don't buy the "Bitcoin is stable" argument for one second.  Now, I have held the view that we'd retest our lows at 50-60 but our low might be higher than that now.  Bad news is, $2 is never happening and if it does, it's because BTC is about to die.  The single digit coin ship has certainly sailed.

yeah your right it's a dream 100 is the new 10!

[BitcoinAshley]

I give it 20% chance that we drop below 100 in the next month.

It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.

Look at those inflections... lol.

[Hawker]

I give it 20% chance that we drop below 100 in the next month.

It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.

Look at those inflections... lol.

I sold 350 at 119.99 and have an order at 117.1 to buy them back.  What % chance do I have?

[Birdy]

I sold 350 at 119.99 and have an order at 117.1 to buy them back.  What % chance do I have?

99%+, if you buy them back at BTCE instead.

[Zaih]

Just grab ya coins and hang tight. It works 

The earlier, the better chance you have of getting them cheaper 

[Endgame]

Without some major bad news I can't see it going below 100 any time soon. The market barely even flinched after the gox account seizure, so the outlook is pretty positive right now.

[bitcon]

many ppl got their coins out of gox. less coins for sale there. supply and demand.

[Birdy]

Yes they got their coins out of Gox, but they don't want to sell them at loss.
I think that is the reason for those massive high ask-walls.

[BitcoinAshley]

I sold 350 at 119.99 and have an order at 117.1 to buy them back.  What % chance do I have?

You'll probably be ok but who knows, maybe this +120 stability is building more support than I expect.

You have a greater chance if you do the following:
1) Withdraw the USD from Gox
2) Use other USD that you happen to have lying around, start an account at CampBX and send a money order in via certified mail, it will be credited within a day after receipt and you can buy your coins at $117-118 because it's been there all week.

However, it will be Wednesday before your account gets credited so by then we could have a rally and even the illiquid exchanges with lower prices will be above 120, in which case you'd be screwed.

Buying back in at a loss isn't the end of the world. It happens to all of us from time to time; no one has a 100% effective trading strategy. The trick is to sell high, buy low more often than sell low, buy high.

Gox just dipped back below 120 I think so you missed a chance to buy back in at at the same price you sold at ;-).

I'm curious to see how much support is really being built during this period of stability.

[Hawker]

I sold 350 at 119.99 and have an order at 117.1 to buy them back.  What % chance do I have?

You'll probably be ok but who knows, maybe this +120 stability is building more support than I expect.
...snip...

Thanks.  I've come to the conclusion that I suck at day trading so I'll leave the fiat in place to buy at $117.1 for a few weeks.  If it works, great, I've made 1%.  If not, great, I've made more than 1% on the rest of my Bitcoin.  But all things considered, it seems that my pattern is to trade several times a day, rack up winnings and then get stuck in a position that I have to lose the winnings to get out of.

[samson]

I give it 20% chance that we drop below 100 in the next month.

It's definitely possible given what has happened in the last couple months, but IMO there's just too much support here - we'd need some major black swans to get down there.

It's been below $100 on 4 separate days in May so far and it's only the 19th today.

[Miz4r]

Last 'crash' brought us down to $103, that is a very bullish sign in my opinion or at least a sign there is massive support above $100 now. Lots of good news the past week like WebMoney and PayPal founders investing in BitPay. We may be retesting $110-115 perhaps and shake out a few weak hands before going up but I don't see it going lower unless there's some major bad news. We'll see, it will be an interesting week for sure.

[rm187]

While we have touched some low points over the past 3 months, they were very momentary. Please wake up, we are not returning to $50-80 coins unless its a flash crash. Which says nothing about bitcoin because its already set it's new paradigm.

[samson]

Last 'crash' brought us down to $103, that is a very bullish sign in my opinion or at least a sign there is massive support above $100 now. Lots of good news the past week like WebMoney and PayPal founders investing in BitPay. We may be retesting $110-115 perhaps and shake out a few weak hands before going up but I don't see it going lower unless there's some major bad news. We'll see, it will be an interesting week for sure.

So should we all be 'holding for the longest time' ?

[Miz4r]

I am already. I only play with 10% of my stack and try to increase my stack a little that way which has been reasonably succesfull so far. Right now I'm all in, I see so much more room for it to go up from here that I think that selling now is just silly with a small chance of giving me a small profit at most (or nothing if I miss the bottom again like I did when it only fell to $103 last time) and a rather large chance of the bitcoin train moving on and leaving my fiat in the dust.