A lot of talk about $50, but the very bottom may be lower

[Rampion]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

[r3wt]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

[Rampion]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

1) I've been able to withdraw from MtGox without any problem before and after the crash
2) How can you say there wasn't parabolic growth? I'm speaking about THE crash (April 10th, crash from $266).
3) The floor cannot be $80 because RIGHT NOW Bitcoin is traded at $75.19

[samson]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

This is still the same crash from $266, there's only been one crash so far this year and we're still only partially through it.

[Rampion]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

This is still the same crash from $266, there's only been one crash so far this year and we're still only partially through it.

Exactly.

[Nemo1024]

I am betting on around 45-47. That was the price the pre-rally plateaux occurred. If that does not hold, the next stop would be around 25-30 to resume the pre-bubble growth trend. Just look at the graph on https://www.bitstamp.net/
In any case it seems prudent to place small buy orders, starting at 70, evenly and impassionately spread along the way down.

[r3wt]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

This is still the same crash from $266, there's only been one crash so far this year and we're still only partially through it.

lol at you thinking you can predict the market with any certainty. that crash subsided. i'm talking about the crash that happened when they pulled withdrawals at gox. you're just pandering misinformation/propaganda to suit your agenda. you're both high on meth with your conspiracy theories about a parabolic curve occuring in the market. again, this is a free market, it won't follow a curve. so what is the mitigating factor in the market? it s not some crash that happened half a year ago, its fucktards like you who keep running their mouth saying the markets gonna crash or the price is gonnna go up. you have no idea just how many sheep their are out there reading and buying/selling on impulse.

[Rampion]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

This is still the same crash from $266, there's only been one crash so far this year and we're still only partially through it.

lol at you thinking you can predict the market with any certainty. that crash subsided. i'm talking about the crash that happened when they pulled withdrawals at gox. you're just pandering misinformation/propaganda to suit your agenda. you're both high on meth with your conspiracy theories about a parabolic curve occuring in the market. again, this is a free market, it won't follow a curve. so what is the mitigating factor in the market? it s not some crash that happened half a year ago, its fucktards like you who keep running their mouth saying the markets gonna crash or the price is gonnna go up. you have no idea just how many sheep their are out there reading and buying/selling on impulse.

There is no conspiracy. Do you know what parabolic growth means? Its the type of growth we had just before the bubble popped on April, 10th.

There's nothing to conspire, that is a cold hard fact.

[anderl]

im selling bitcoins till price will get back to 10-20$

the bubble need to pop.  people need to suffer.   people need to get angry.  people need to quit bitcoin.  when that happens the market capitulates and we will find a bottom and start the cycle over again.  When BTC hits $50 I will be interested in how it handles the support there.  I will also be interested in how quickly it gets there.  I"m not sure if 50 will be the bottom because the market continue to evolve.  Maybe it is the bottom or maybe it is 30 or 20.  It is interesting to participate.

[samson]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

This is still the same crash from $266, there's only been one crash so far this year and we're still only partially through it.

lol at you thinking you can predict the market with any certainty. that crash subsided. i'm talking about the crash that happened when they pulled withdrawals at gox. you're just pandering misinformation/propaganda to suit your agenda. you're both high on meth with your conspiracy theories about a parabolic curve occuring in the market. again, this is a free market, it won't follow a curve. so what is the mitigating factor in the market? it s not some crash that happened half a year ago, its fucktards like you who keep running their mouth saying the markets gonna crash or the price is gonnna go up. you have no idea just how many sheep their are out there reading and buying/selling on impulse.

LOL, this is 'the' crash, any increases in price since the initial fall from $266 were just bounces along the way. They were big and people have been trying hard to keep the price up but ultimately it failed and continues to fail.

It you believe otherwise you're deluded.

It looks like it's going to be a full and complete deflation. Be sure to check back in a month or two to see how it turns out.

I know where my money is.

[BitcoinAshley]

I just love how much AGGRESSION there is in this thread, towards the OP and anyone else who accepts reality.
 

[MikeH]

this is all based on your evaluation of bitcoin, everyone has a different opinion on its value - of course it's lower for big holders who picked up btc < $30.

[sarc]

I just love how much AGGRESSION there is in this thread, towards the OP and anyone else who accepts reality.
 

It's the last stage of denial - 'tantrum'.  

[samson]

you're both high on meth with your conspiracy theories about a parabolic curve occuring in the market. again, this is a free market, it won't follow a curve. so what is the mitigating factor in the market? it s not some crash that happened half a year ago, its fucktards like you who keep running their mouth saying the markets gonna crash or the price is gonnna go up. you have no idea just how many sheep their are out there reading and buying/selling on impulse.

 

[Raize]

I see a lot of people commenting that weren't around from June 2011 to November 2011. Those were pretty dark times. It got so bad that most miners were looking at huge losses on GPU purchases and sold their miners, especially the Europeans who had higher electricity costs and the people on both coasts in the US. In August of 2011, it was briefly more profitable to mine Namecoins, so about a quarter of the miners switched to it and killed that coin (till merged mining happened).

The fact of the matter is that new ASIC miners can mine at a huge profit right now. Even at 200 [edit: million] difficulty, at these prices the ASIC miners are still making tens of dollars per day. The price has a ways to fall yet before it becomes rational again. You can pretty much mark my words, without a huge buyer out there to scoop up these coins, we won't see a new all-time high in USD price for at least a year. We either need large interest in Bitcoin (billions of dollars of investing) or for miners to start hoarding, and right now there is little incentive for either.

Of course, I say this as a miner who isn't selling his coin, but that's because I'm irrational and can afford to be irrational in the short term for the long term gains. Trying to call the "bottom" is too hard for me, instead I'll likely just mine and hoard as I can afford to, and sell in a little over a year as the market gets irrational again and I become more rational in response. There's some possibility that this isn't July 2011, and is actually the equivalent of February/March 2011, but given the number of folks in Speculation and on reddit that keep posting that 300 image of "Hold" despite the obvious fact that ASIC mining is far too profitable, I am leaning more toward the former right now.

Of course, always remember the market can be irrational longer than you can remain solvent, don't bet the farm on the success or failure of Bitcoin, folks.

[samson]

You seem to forget that the so called bubble crash only happened because MTGOX couldn't handle all the traffic!!! Maybe the price would have gone up a lot higher otherwise.

I strongly disagree. The bubble popped just because all bubbles pop (otherwise it wouldn't have been a bubble in the first instance), and during the last week before the crash Bitcoin entered on a crazy parabolic growth that would have led to a 100% increase in price every week. That's unsustainable, you don't have to look for "external reasons" like MtGox incompetence, that kind of growth is a crash indicator because that's how market psychology works.

People sees their money doubling every 5 days, they get hyper-emotional, as soon as a deep crash happens for "natural reasons" (people selling to realize their profits) the herd panics and sell en mass, triggering the bubble burst. This is what happens over and over with all bubbles, you do not need to look for any "rational" reasons because the market is irrational.

the week before the crash you could withdraw from Gox. there wasn't no parabolic increase. it was just the normal recovery from the last bubble bursting. frankly you're point doesn't support your op any longer either. your argument about the bubble leads me to believe that the floor is 80

Do you still hold you Bitcoin now it's trading around $67 ?

[escrow.ms]

Yeah fuck it just dropped to 66

[Jaroslaw]

Yeah fuck it just dropped to 66

[Rampion]

Yeah fuck it just dropped to 66

Denial can hold for some time, but when fear takes over the sell button starts to itch even to the biggest supporters of "buy&hold"

[samson]

Yeah fuck it just dropped to 66

Denial can hold for some time, but when fear takes over the sell button starts to itch even to the biggest supporters of "buy&hold"

I guess we need those people to push through the big bid walls like those on $55 and $50