Crash!

[Chronikka]

BTC market is crashing. Seriously though who didn't see this bubble bursting? Speculate on where the price will settle...

http://bitcoin.clarkmoody.com/

[BurtW]

I guess using "Profit Taking!" would just not get people to read your thread?

[Chronikka]

I guess using "Profit Taking!" would just not get people to read your thread?

Read it? Why do I care if people read it? I made money and I'm quite happy regardless

This appears to be a pretty hard crash which is why I started the post. Its already down by $30 in a matter of minutes

As for the people who bought in above $200...why? Too soon.

[Chronikka]

*Sees "Mt. Gox Market Data"*

/thread

Still Down despite the surge in recent minutes

Only a temp buy back in my opinion. I may be wrong but the market doesn't lie...$200 is an inflated price at this point in time. Just look at the trade volume. A hard crash followed by a minuscule rebound. Its going to drop again. This surge is based almost entirely on Chinese Speculation.

[n00ber]

I think it will stabilize in $150 - $170.

[Chronikka]

I think it will stabilize in $150 - $170.

Seems to have stopped around $200 for the time being. I think its temporary. An attempt to return the price to "normal" by major buyers but there doesn't seem to be a whole lot of support outside of that for this price... Its going down again guys.

[BurtW]

Its going down again guys.

Really?

[masyveonk]

It recovered quite fast. Not sure if I can call this a "Crash!" 

[Aahzman]

It recovered quite fast. Not sure if I can call this a "Crash!" 

yes, but if the OP doesn't use scaremongering "EVERYBoDY PANIC!I!!(!*&!!" keywords in their subject line, nobody would read the post. "Minor, temporary dip in BTC valuation" doesn't have quite the same urgency that "CRASH!" does.

[balanghai]

Well bubbles do burst but the question is are you ready for the ride to make it work for your advantage?

[Chronikka]

Since most of you don't think this is a real crash...why do you think that? What is supporting the price above $200 besides speculation? I have heard nothing from anybody to suggest that the rise over the last few days is permanent. Its going to drop again. Watch.

[superresistant]

Since most of you don't think this is a real crash...why do you think that? What is supporting the price above $200 besides speculation? I have heard nothing from anybody to suggest that the rise over the last few days is permanent. Its going to drop again. Watch.

It's going back, we are underestimating the Chinese-Bitcoin-frenzy. It may not have reached the peak before the proper crash.

[imrer]

It's only correction. No big deal. I think we are heading upwards. It's healthy to stop for a while and build position.

[BitcoinAshley]

I don't understand this thread, at all.

I know, I know, trolls gonna troll.

Some of them are just really, really bad at it. 

[TERA]

Does this happen during a crash?



(before the 'crash' it was 2,400,000 and the highest it EVER was was 2,650,000)

[SheHadMANHands]

I don't understand this thread, at all.

I know, I know, trolls gonna troll.

Some of them are just really, really bad at it. 

You aren't a real troll until you have your own troll (like reality4you on r/bitcoin)

[Chronikka]

I don't understand this thread, at all.

I know, I know, trolls gonna troll.

Some of them are just really, really bad at it. 

You aren't a real troll until you have your own troll (like reality4you on r/bitcoin)

I don't know why you think its trolling. The price fell by $50 in minutes. Its still down by $30. Thats a ~13% drop.

Now look at trade volume. A bunch of buyers bought the price back above $200 and its been hovering there with minimal volume for about a day. Its still an inflated price. I doubt it will collapse back to $150 but all its going to take is a few panickers and we are on the way down again.

I emailed a former economics professor of mine who is a bitcoin enthusiast. He explained that he thought this was "RR Reversal" or more commonly called "Risk Reversal" by a small group of major bitcoin investors. Its a strategy to protect themselves in case of a downward trend. It also commonly causes very sudden pullbacks on rapidly rising stocks...or in this case bitcoin. Anywhere from 10-25% usually.

[Luzio]

Does this happen during a crash?

https://i.imgur.com/9EZYJC1.png

(before the 'crash' it was 2,400,000 and the highest it EVER was was 2,650,000)

You can put a circle around the asks as well, as they increased some k's since yesterday. Edit: it's already at 17k, so a 5k increase since yesterday.

[cowandtea]

Does this happen during a crash?



(before the 'crash' it was 2,400,000 and the highest it EVER was was 2,650,000)

No but its going to have a real crash soon..

[mufa23]

No crash. thread is full of crap. Hold onto your btc, we're on our way up