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bit777 (OP)
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June 07, 2013, 06:05:42 PM |
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Past week bitcoin has been slowly dropping in price. What you guys think? Will it slowly drop back to 10-20$?
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jag2k2
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Activity: 62
Merit: 10
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June 07, 2013, 06:24:22 PM |
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Difficult to see. Always in motion is the future.
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I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson
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BitcoinAshley
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June 07, 2013, 06:30:37 PM |
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Past week bitcoin has been slowly dropping in price. What you guys think? Will it slowly drop back to 10-20$?
$10-$20? Lol, definitely  |
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mgio
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June 07, 2013, 06:54:36 PM |
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If bitcoin drops to 10-20 it is pretty much dead.
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600watt
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Activity: 2338
Merit: 2106
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June 07, 2013, 06:56:43 PM |
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If bitcoin drops to 10-20 it is pretty much dead.
so am i |
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auto2nr1
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June 07, 2013, 06:57:59 PM |
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If bitcoin drops to 10-20 it is pretty much dead.
so am i LOL... Let's hope that does not happen. |
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BitCoinNewGuy
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Activity: 84
Merit: 10
'That Guy'
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June 07, 2013, 07:02:53 PM |
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The hype is gone.
Exchanges are getting seized.
Feds are associating BitCoin with 'illegal activity' & 'terrorists', or at least putting this fear out in the media.
Feds are pressuring the BitCoin world.
The IRS is scaring people.
Scammers with trade are rampant as the transactions are irreversible and really nothing can be done.
etc...
etc...
I don't see how this is any good?
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leopard2
Legendary
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Activity: 1372
Merit: 1014
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June 07, 2013, 07:03:05 PM |
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it went from 30 to 2, last time
so 266 to 20 is realistic
the only question is whether money flows into or out of bitcoin, at the moment it looks bad. Obviously newly mined BTC are sold and there are no new investors.
the good thing is, if it goes from 266 to 20, there is no reason why there shouldn't be a third wave which could take it to well over 1000
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Truth is the new hatespeech.
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Crypt_Current
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June 07, 2013, 07:05:27 PM |
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The hype is gone.
Exchanges are getting seized.
Feds are associating BitCoin with 'illegal activity' & 'terrorists', or at least putting this fear out in the media.
Feds are pressuring the BitCoin world.
The IRS is scaring people.
Scammers with trade are rampant as the transactions are irreversible and really nothing can be done.
etc...
etc...
I don't see how this is any good?
A natural thing about people: When they're told NOT to do something, it makes them want to do it more. Doesn't matter what the thing is. This is directly related to "demand". |
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mgio
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June 07, 2013, 07:12:13 PM |
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it went from 30 to 2, last time
so 266 to 20 is realistic
the only question is whether money flows into or out of bitcoin, at the moment it looks bad. Obviously newly mined BTC are sold and there are no new investors.
the good thing is, if it goes from 266 to 20, there is no reason why there shouldn't be a third wave which could take it to well over 1000
No. You just made this up because you believe there must be a "pattern". You can use past history to predict the future. There are reason for everything and when we can't see the reason we invent something. |
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Malawi
Full Member
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Activity: 224
Merit: 100
One bitcoin to rule them all!
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June 07, 2013, 07:55:05 PM |
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A natural thing about people: When they're told NOT to do something, it makes them want to do it more. Doesn't matter what the thing is. This is directly related to "demand".
Prohibition anyone?  |
BitCoin is NOT a pyramid - it's a pagoda.
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BitCoinNewGuy
Member
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Activity: 84
Merit: 10
'That Guy'
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June 07, 2013, 07:58:39 PM |
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The up and coming regulations and possible new laws may that may appear at any time without notice make selling BitCoin now, if it returns a profit, a great idea. Who knows, tomorrow we may see the 5 badge seal on CoinBase.com. In the future it will only be harder and harder to liquidate BitCoin. Without the ability to turn BitCoin to fiat currency it is basically useless at this point. The $USD dollar is getting stronger. Gold and Silver are tanking too. That bubble is over. Feel bad for the people who bought silver in the $40s range!Silver is down another 5% just today alone: http://www.kitcosilver.com/charts/24hoursspot.htmlAlso, in an economic collapse Gold and Silver will not be the savior currency once thought to be so. |
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Crypt_Current
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June 07, 2013, 08:21:51 PM |
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The up and coming regulations and possible new laws may that may appear at any time without notice make selling BitCoin now, if it returns a profit, a great idea.
Selling anything at any time, if it returns a profit, is probably a great idea   |
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binaryFate
Legendary
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Activity: 1512
Merit: 1012
Still wild and free
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June 07, 2013, 09:40:55 PM |
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The $USD dollar is getting stronger.
I have no expertise at all in economy, but I do wonder what leads you to such a statement? |
Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. This makes Monero a better candidate to deserve the term "digital cash".
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BitCoinNewGuy
Member
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Activity: 84
Merit: 10
'That Guy'
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June 07, 2013, 10:05:40 PM |
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What he said.
Right now cash is king. Gold and Silver are tanking!
Yes, sometimes it is better to hang on to that paper. Now is a good time to move your assets into $USD, then re-buy commodities later.
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BrightAnarchist
Donator
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Activity: 853
Merit: 1000
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June 07, 2013, 10:15:35 PM |
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What he said.
Right now cash is king. Gold and Silver are tanking!
Yes, sometimes it is better to hang on to that paper. Now is a good time to move your assets into $USD, then re-buy commodities later.
Agreed. Deflation confuses most everyone... Glad you're one of the few who gets it |
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ArticMine
Legendary
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Activity: 2282
Merit: 1050
Monero Core Team
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June 07, 2013, 11:15:56 PM |
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If bitcoin drops to 10-20 it is pretty much dead.
No it is not far from it. Let us not forget that Bitcoin "recovered" from 2 USD to 266 USD after the last bear market. |
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BitCoinNewGuy
Member
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Activity: 84
Merit: 10
'That Guy'
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June 07, 2013, 11:27:40 PM |
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No it is not far from it. Unlike other commodities, there is no stopping panic selling if it sets in. Emotions and fear take over and control the selling, not rational judgements. I strongly believe that if prices went sub $100 today, or if they do in the next few days, the 'panic' of the quickly falling prices would drive prices sub $40. http://en.wikipedia.org/wiki/Panic_sellingHistory likes to repeat itself, and unlike other investments, there are no 'stops' with BitCoin. Unlike with gold or silver, houses, etc if BitCoin crashes your left with literally nothing. Now with that said, BUY BUY BUY! This drives prices in the OTHER direction by doing the exact OPPOSITE! If the price is to increase in the next few days it will accelerate the rise! There needs to be another quick, rapid, hyped up jump in prices or I am fearing BitCoin might be lingering towards death (rapid decline in value). |
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BitcoinAshley
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June 08, 2013, 12:28:01 AM |
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Yeah guys, bitcoin is totally doomed :trlf:
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