Aco (OP)
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October 24, 2013, 07:22:29 AM Last edit: October 24, 2013, 03:03:50 PM by Aco |
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Looks like the price per BTC is plummeting and I am thrilled I sold half my coins at $196 ( https://coinbase.com/charts). Bought at $123-132. Super exciting! Saw the moving average analysis moving huge numbers around midnight my time and I was like screw it. It's too unstable. Extreme volatility. And sold half of my coins.
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"You Asked For Change, We Gave You Coins" -- casascius
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coastermonger
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Find me at Bitrated
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October 24, 2013, 07:29:01 AM |
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You can gloat all you want. I for one, am happy to see cheaper BTC in the meantime!
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Bitrated user: Rees.
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MaTachi
Member
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Hack the planet!
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October 24, 2013, 07:32:51 AM |
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During the last 4 hours it have gone from 215 to 185. But honestly, I expected it to rise for at least a couple of more days until the inevitable crash.
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@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
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600watt
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October 24, 2013, 07:34:19 AM |
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awesome. such a giant loss, but still above 190.
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MaTachi
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Hack the planet!
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October 24, 2013, 07:35:36 AM |
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awesome. such a giant loss, but still above 190.
Wait, there is more
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@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
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User705
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First 100% Liquid Stablecoin Backed by Gold
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October 24, 2013, 07:37:41 AM |
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And every single ASIC company is shitting their pants.
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600watt
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October 24, 2013, 07:42:54 AM |
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I'm buying back more whenever it dips! But I'm enjoying this extreme volatility at the moment for profit sake.
watch out that yopu don´t miss it when it violently reclaims high territory.
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donjoe
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October 24, 2013, 07:52:57 AM |
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I'd been watching the Google Trends and wondering what the hell was going on and today I got my answer - unsustainably fast growth was going on. I wouldn't even call this a bubble-pop, as it was only a few days' worth of growth that got corrected.
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tempt
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October 24, 2013, 07:53:14 AM |
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So many experts here.
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smoothie
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LEALANA Bitcoin Grim Reaper
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October 24, 2013, 07:55:09 AM |
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Let the weak hands sell! See you guys at $266, $500, $1000, etc.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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nottorious91
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October 24, 2013, 07:56:10 AM |
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Let the weak hands sell! See you guys at $266, $500, $1000, etc. That's code for "ohshi.. guys, pls bail my ass out"
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Herp
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October 24, 2013, 07:57:05 AM |
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pftt filthy weak hands
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MaTachi
Member
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Hack the planet!
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October 24, 2013, 07:57:49 AM |
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Let the weak hands sell! See you guys at $266, $500, $1000, etc. Yeah, they are worth AT LEAST $1000!!1!
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@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
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MaTachi
Member
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Merit: 10
Hack the planet!
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October 24, 2013, 08:02:40 AM |
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I'm buying back more whenever it dips! But I'm enjoying this extreme volatility at the moment for profit sake.
So true, traders paradise. Now the price could go under 100 Assuming they rise once again afterwards.
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@DanielJonss. On a long enough timeline, the survival rate for everyone drops to zero.
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Davyd05
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October 24, 2013, 08:05:53 AM |
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I'm buying back more whenever it dips! But I'm enjoying this extreme volatility at the moment for profit sake.
So true, traders paradise. Now the price could go under 100 I texted my buddy, we can buy again lol. I got in at $142 (3.17btc@ 450cad) for the long haul. Being able to get some more sub 140 is a-ok with me. Had I bought in say with 5k cad last week I would've sold half at 210-220 and re bought when the correction occurred. I also kind of think of all the miners that were feeling a bubble thought we need to get some returns while the price is high and probably decided to sell some while it seemed best in a tight spot. WOW btcchina just rollercoaster-ed lol
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Proud Hodler, neither bull nor bear.
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Puppet
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October 24, 2013, 08:07:59 AM |
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Interestingly, the price seems to hold relatively well in China
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Davyd05
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October 24, 2013, 08:08:56 AM |
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Interestingly, the price seems to hold relatively well in China
Mind you I was just about to make the same point, then re checked the ticker and saw some huge movements http://bitcoinity.org/markets/btcchina/CNYnot anymore, I just watched it take a steep dive, to 1000 then back to 1100
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Proud Hodler, neither bull nor bear.
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Shallow
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SmartFi - EARN, LEND & TRADE
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October 24, 2013, 08:09:27 AM |
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The market's a rollercoaster atm, fun times.
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terman45x
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October 24, 2013, 08:09:49 AM |
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Let the weak hands sell! See you guys at $266, $500, $1000, etc. Yeah, they are worth AT LEAST $1000!!1! At least for me Bitcoins are worth more than $1000, I dont need to sell soon, I have enought fiat
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viboracecata
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Varanida : Fair & Transparent Digital Ecosystem
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October 24, 2013, 08:14:02 AM |
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I predict this trend and post a warning in Chinese board, but I'm not sure, I feel this is just one adjustment.
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Davyd05
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October 24, 2013, 08:14:58 AM |
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Damn before I'll have any fiat to re buy with....the markets are rallying ahahahahha roller coasterssss
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Proud Hodler, neither bull nor bear.
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jmutch
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October 24, 2013, 08:25:26 AM |
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I get the impression whales are playing with this market a little bit.
kind of like an old school pump and dumps
emotional buying and selling is usually a bad idea in these circumstances
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anu
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RepuX - Enterprise Blockchain Protocol
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October 24, 2013, 08:30:30 AM |
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I'm buying back more whenever it dips! But I'm enjoying this extreme volatility at the moment for profit sake.
So true, traders paradise. Now the price could go under 100 That's one thing I never understand: Sellers who sell now at 160 apparently consider this a good price when just a few minutes ago, 200 was too cheap. Same for buyers: Many bought at around 200, apparently thinking this is a good price when a few weeks back they thought 100 too expensive. The trick to make money is buying low, selling high. Panic selling / buying does not pay (unless you panic first). Newbies alwas seem to believe that Bitcoin is a Ponzi Scheme and the price will fall to zero, when time and again it recovered quickly after a crash. I mean - even those who bought @32 in 2011 look pretty good now. 2 years from now, 266 will look incredibly cheap. So stop gamble your coins away because each coin will buy you a Porsche in 2020. In case you didn't notice, China is already recovering. Just like Gold, Bitcoins move east.
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tearfereon
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October 24, 2013, 08:41:22 AM |
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I mean - even those who bought @32 in 2011 look pretty good now. 2 years from now, 266 will look incredibly cheap.
So stop gamble your coins away because each coin will buy you a Porsche in 2020. True, this is one of possible scenarios. I personally have few coins, and if the price goes to 0, I wouldnt mind. I dont need to sell in few next years
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zby
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October 24, 2013, 08:43:35 AM |
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Interestingly, the price seems to hold relatively well in China
Mind you I was just about to make the same point, then re checked the ticker and saw some huge movements http://bitcoinity.org/markets/btcchina/CNYnot anymore, I just watched it take a steep dive, to 1000 then back to 1100 Looks like everywere it was about 25%.
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JustAnotherSheep
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October 24, 2013, 08:48:37 AM |
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What's with the instant dick-grabbing and crying bubble pop when the bubble hasn't even had time to form yet.
It was a correction, we're still going to the moon. Best ready your cosmonaut gear or you'll be left on the ground coughing from all the dust and exhaust gases.
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Is it a bull? Is it a bear? No, it's just another sheep.
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johnyj
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Beyond Imagination
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October 24, 2013, 08:58:38 AM |
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Now the bubble popped, it is safe to buy
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TERA
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October 24, 2013, 09:03:07 AM |
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Finally! A sane trend is resumed. I have increased my portfolio 12%, and now I can get sleep at night...
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notung
Member
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October 24, 2013, 09:03:59 AM |
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Did it pop? Couldn't be just a bear trap?
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Buffer Overflow
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October 24, 2013, 09:07:54 AM |
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I got a feeling experienced traders are playing games with you lot. Think I'll keep my coins safety in cold storage. If others want them they will have to pay me more for them, not less. A *lot* more.
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jmutch
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October 24, 2013, 09:46:25 AM |
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I got a feeling experienced traders are playing games with you lot. Think I'll keep my coins safety in cold storage. If others want them they will have to pay me more for them, not less. A *lot* more.
+1 i think theres a few big dogs dicking around. it still wouldnt take much money(for uber rich people) to do this.
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wobber
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October 24, 2013, 10:11:44 AM |
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Fuckin congratulations. I was 100% sure it will pop. After my argue with a respected member on this forum, he convinced me that price can recover (see low 150 and recoup to 200) BUT i do think more downward will happen.
So rally is over, go home!
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If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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Birdy
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October 24, 2013, 10:25:51 AM |
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If that was "the great bubble pop" I am not scared at all. Just take a look at the 30-day chart. Let's see how this continues ^^
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wobber
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October 24, 2013, 10:36:13 AM |
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It will go lower. Mark my words.
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If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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Birdy
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October 24, 2013, 10:41:14 AM |
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It will go lower. Mark my words.
marked ^^
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majorddf
Member
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October 24, 2013, 10:43:07 AM |
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I sell in order to buy more coins at a lower price.
I am much more concerned about the increase in my coin holding, than the fiat I could withdraw after a sale.
After selling at £140 and buying at intervals back down to £115 I increased my stack by 24%.
Whether we go back up, or I buy more heading further down, I am happy either way!
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TERA
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October 24, 2013, 10:49:37 AM |
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Yup the bubble popped and btc went almost all the way down to its support level. BTC grows 1000% per year. 6 months ago the support was $50 - so now its at $50 * 10^(0.5) = $158.
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Buffer Overflow
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October 24, 2013, 10:54:43 AM |
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Yup the bubble popped and btc went almost all the way down to its support level. BTC grows 1000% per year. 6 months ago the support was $50 - so now its at $50 * 10^(0.5) = $158.
Good point.
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P_Shep
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This is not OK.
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October 24, 2013, 11:07:26 AM |
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Well, that didn't last long.
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Birdy
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October 24, 2013, 11:07:36 AM |
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I am confused. Do bubble pops usually include buying at new highs? That's what Bitstamp did just a few moments ago.
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klee
Legendary
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October 24, 2013, 11:11:29 AM |
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I am confused. Do bubble pops usually include buying at new highs? That's what's Bitstamp did just a few moments ago.
LOL
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TERA
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October 24, 2013, 11:16:32 AM |
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Bitstamp always does this after every flash crash - someone fires a 3,000btc market order into the space with no depth, and buys it higher than it originally was. Lesson learned... always have a sell order up there. Then immediately rebuy for a 15% profit when it's over...
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klee
Legendary
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October 24, 2013, 11:49:04 AM |
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Bitstamp always does this after every flash crash - someone fires a 3,000btc market order into the space with no depth, and buys it higher than it originally was. Lesson learned... always have a sell order up there. Then immediately rebuy for a 15% profit when it's over...
Damn, I could have made a 50-60% profit with the dip and now this slip...
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Rival
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October 24, 2013, 12:23:40 PM |
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The only thing that really happened was that some folks who think bitcoin is just another market that you use Wall Street strategies for got their clocks cleaned.
The only people selling at $160 and $155 were wonks and day-traders that had stuck in stop-loss orders. Now when they wake up in the morning, they can look at their balances, and then climb back into bed and cry into their pillows because they got their pockets picked.
Bitcoin trading is not Wall Street, and if you try that crap eventually you will get eaten.
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BitcoinAshley
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October 24, 2013, 02:07:25 PM |
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The only thing that really happened was that some folks who think bitcoin is just another market that you use Wall Street strategies for got their clocks cleaned.
The only people selling at $160 and $155 were wonks and day-traders that had stuck in stop-loss orders. Now when they wake up in the morning, they can look at their balances, and then climb back into bed and cry into their pillows because they got their pockets picked.
Bitcoin trading is not Wall Street, and if you try that crap eventually you will get eaten.
+1 I woke up this morning and it's the same price it was yesterday morning. What bubble, OP? Seems more like a classic bear trap to me, and you caught yo' foot caught
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mccorvic
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October 24, 2013, 02:12:27 PM |
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The only thing that really happened was that some folks who think bitcoin is just another market that you use Wall Street strategies for got their clocks cleaned.
The only people selling at $160 and $155 were wonks and day-traders that had stuck in stop-loss orders. Now when they wake up in the morning, they can look at their balances, and then climb back into bed and cry into their pillows because they got their pockets picked.
Bitcoin trading is not Wall Street, and if you try that crap eventually you will get eaten.
+1 I woke up this morning and it's the same price it was yesterday morning. What bubble, OP? Seems more like a classic bear trap to me, and you caught yo' foot caught Same experience here. Looking back, the dip is pretty deep. The quick recovery encourages me as a perma-long-term-bull.
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BombaUcigasa
Legendary
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October 24, 2013, 04:17:05 PM |
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Looks like the price per BTC is plummeting and I am thrilled I sold half my coins at $196 ( https://coinbase.com/charts). Bought at $123-132. Super exciting! Saw the moving average analysis moving huge numbers around midnight my time and I was like screw it. It's too unstable. Extreme volatility. And sold half of my coins. Price is now 205-215 USD. Super exciting!
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Ipsum
Member
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October 24, 2013, 04:50:18 PM |
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The only thing that really happened was that some folks who think bitcoin is just another market that you use Wall Street strategies for got their clocks cleaned.
The only people selling at $160 and $155 were wonks and day-traders that had stuck in stop-loss orders. Now when they wake up in the morning, they can look at their balances, and then climb back into bed and cry into their pillows because they got their pockets picked.
Bitcoin trading is not Wall Street, and if you try that crap eventually you will get eaten.
It's no different than trading anything else - there is no formula, and most traders, including professionals, end up failing to beat the market.
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BittBurger
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October 24, 2013, 04:57:58 PM |
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I got a feeling experienced traders are playing games with you lot. Think I'll keep my coins safety in cold storage.
Wise words. Unlike the OP's words.
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BittBurger
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October 24, 2013, 05:01:11 PM |
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One thing "high frequency traders" never seem to grasp ... is that they could have 10x the money if they weren't such adrenaline junkies.
Great. You made a little cash by selling over half your coin stash.
You claim you'll buy when it dips again.
Unfortunately, it will never dip to $60 again ... like it did a few months ago.
Now dips will be higher, and higher, and higher.
And you will continue buying and selling ... and making your minimal $ ...
Meanwhile, the dude who bought at 60 and held till $1,000 is the true winner.
All that coin you made in your high frequency trading will be gone, no doubt spent ... and you'll have nothing to show for it in 5 years.
While the guy who bought at 60 and held is buying a porsche with 1 coin.
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hyphymikey
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October 24, 2013, 05:15:53 PM |
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One thing "high frequency traders" never seem to grasp ... is that they could have 10x the money if they weren't such adrenaline junkies.
Great. You made a little cash by selling over half your coin stash.
You claim you'll buy when it dips again.
Unfortunately, it will never dip to $60 again ... like it did a few months ago.
Now dips will be higher, and higher, and higher.
And you will continue buying and selling ... and making your minimal $ ...
Meanwhile, the dude who bought at 60 and held till $1,000 is the true winner.
All that coin you made in your high frequency trading will be gone, no doubt spent ... and you'll have nothing to show for it in 5 years.
While the guy who bought at 60 and held is buying a porsche with 1 coin.
Bought my first Porsche when I was 16 because I knew what I was doing. 6 years later I still know what I'm doing. Bitcoins do not compound. Nor did I make 'little' cash. I see percentages. Numbers are relative. You don't understand money. Especially how to make more of it. You "seem" to know what you are doing, but good luck to you! Bitcoin is different than anything you've traded before, all it takes is one whale to make a random move, then bam, you are screwed. You either didn't see it coming and didn't get to buy back in, or you forgot to sell, sell on the way down, then it immediately corrects, both losing you "percentages". Keep your eyes wide open, because what you know, does not apply, you just got lucky last night, don't try to say anything otherwise.
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freedomno1
Legendary
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Merit: 1090
Learning the troll avoidance button :)
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October 24, 2013, 05:17:04 PM |
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This isn't over yet just a micro correction Watches as statement fails gloriously in a few days XD (Bitcoin well the bubble hasn't really popped yet whistle) I got a feeling experienced traders are playing games with you lot. Think I'll keep my coins safety in cold storage. If others want them they will have to pay me more for them, not less. A *lot* more.
That said I do agree with buffer
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Believing in Bitcoins and it's ability to change the world
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BitcoinAshley
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October 24, 2013, 05:20:06 PM |
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One thing "high frequency traders" never seem to grasp ... is that they could have 10x the money if they weren't such adrenaline junkies.
Great. You made a little cash by selling over half your coin stash.
You claim you'll buy when it dips again.
Unfortunately, it will never dip to $60 again ... like it did a few months ago.
Now dips will be higher, and higher, and higher.
And you will continue buying and selling ... and making your minimal $ ...
Meanwhile, the dude who bought at 60 and held till $1,000 is the true winner.
All that coin you made in your high frequency trading will be gone, no doubt spent ... and you'll have nothing to show for it in 5 years.
While the guy who bought at 60 and held is buying a porsche with 1 coin.
Bought my first Porsche when I was 16 because I knew what I was doing. 6 years later I still know what I'm doing. Bitcoins do not compound. Nor did I make 'little' cash. I see percentages. Numbers are relative. You don't understand money. Especially how to make more of it. Does that explain why, looking at your strategy, I've made thousands of % more than you have on bitcoin? Yet you "see percents" and "understand money?" Nice try. By the way, dick-swinging on the internet means absolutely nothing. Look: "I bought a lamborghini when I was 12..." does that count? Again, nice try
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CurbsideProphet
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October 24, 2013, 05:47:37 PM |
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One thing "high frequency traders" never seem to grasp ... is that they could have 10x the money if they weren't such adrenaline junkies.
Great. You made a little cash by selling over half your coin stash.
You claim you'll buy when it dips again.
Unfortunately, it will never dip to $60 again ... like it did a few months ago.
Now dips will be higher, and higher, and higher.
And you will continue buying and selling ... and making your minimal $ ...
Meanwhile, the dude who bought at 60 and held till $1,000 is the true winner.
All that coin you made in your high frequency trading will be gone, no doubt spent ... and you'll have nothing to show for it in 5 years.
While the guy who bought at 60 and held is buying a porsche with 1 coin.
Bought my first Porsche when I was 16 because I knew what I was doing. 6 years later I still know what I'm doing. Bitcoins do not compound. Nor did I make 'little' cash. I see percentages. Numbers are relative. You don't understand money. Especially how to make more of it. Does that explain why, looking at your strategy, I've made thousands of % more than you have on bitcoin? Yet you "see percents" and "understand money?" Nice try. By the way, dick-swinging on the internet means absolutely nothing. Look: "I bought a lamborghini when I was 12..." does that count? Again, nice try Nah, I know him, he's not lying he really did buy a Porsche. He just didn't tell you what it looked like.
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1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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SgtSpike
Legendary
Offline
Activity: 1400
Merit: 1005
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October 25, 2013, 03:49:41 PM |
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We may have had a correction, but the rally isn't over yet!
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antimattercrusader
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October 25, 2013, 04:47:41 PM |
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I'm representing! Every service based or mom/pop business I go into I am preaching it!
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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Hfleer
Sr. Member
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Changing avatars is currently not possible.
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October 25, 2013, 05:17:36 PM |
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Well it was quite a drop, and I wasn't happy to see it. But it's fairly typical for Bitcoin lately.
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sunsofdust
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October 25, 2013, 05:31:37 PM |
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www.currentbitcoinvalue.org is showing a slow and steady decline in Bitcoin value for all the major exchanges. How far will it go? Anyone willing to speculate on what a good price would be to start buying back in?
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MAbtc
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October 25, 2013, 05:36:53 PM |
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Well it was quite a drop, and I wasn't happy to see it. But it's fairly typical for Bitcoin lately.
Hey it's just like coming down from an acid trip. No ones happy about it. I suppose that depends how much of your portfolio is in dollars, and whether your bids filled on the way down.
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accord01
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October 25, 2013, 06:41:21 PM |
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I thought the previous high in btc history was 266 on mtgox, but it seems like it was only 240.... anyway... this new jump and correction is happening exponentially faster...
new trends will definitely be happening exponentially faster.
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accord01
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October 25, 2013, 06:52:07 PM |
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new rally starts in 5 4 3 2 1...
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wopwop
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October 25, 2013, 06:54:19 PM |
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The bubble can't pop as long as you can't withdraw real money in significant numbers
Thank MtGox
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mootinator
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October 25, 2013, 06:57:45 PM |
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Sheesh, with all the people openly having a target of $1000 it's going to take years to get there and crash magnificently the moment it does.
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No
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Xiaoma
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October 25, 2013, 07:15:55 PM |
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Well it was quite a drop, and I wasn't happy to see it. But it's fairly typical for Bitcoin lately.
Oh I was happy indeed, I had dollars ready for days, just waiting for this correction
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600watt
Legendary
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Activity: 2338
Merit: 2106
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October 25, 2013, 07:58:09 PM |
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Sheesh, with all the people openly having a target of $1000 it's going to take years to get there and crash magnificently the moment it does.
so you think it wiil take years for this https://bitcointalk.org/index.php?topic=285771.msg3055867#msg3055867to take place ? and then it would crash ? that would make it a strange party...
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mootinator
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October 25, 2013, 08:29:44 PM |
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Well, I'd expect a large correction somewhere around that level at any rate.
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No
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windjc
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Merit: 1070
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October 25, 2013, 11:35:55 PM |
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Sheesh, with all the people openly having a target of $1000 it's going to take years to get there and crash magnificently the moment it does.
It depends. If Bitcoin hits $1000 for the same reasons it hit $266 in April - pure speculation - then, yes, it will crash dramatically. In fact, it will most likely crash before it gets to $1000, if its based mostly on speculation. However, if the underlining fundamental values of BTC increase such as: A. Legitimacy as a true store of wealth - (ETF funds, financial markets treating it as if it is a viable option) B. Increased adoption and implementation in developing or struggling countries (i.e. relationship with M-pesa/Cyprus) C. Legitimacy as a currency grows - adoption by large internet companies/off-line retailer brands, etc. then $1000 could come and go without much ado at all. It really just depends on how Bitcoin evolves over then next 24 months.
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Lohoris
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October 28, 2013, 09:40:28 AM |
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The only thing that really happened was that some folks who think bitcoin is just another market that you use Wall Street strategies for got their clocks cleaned.
The only people selling at $160 and $155 were wonks and day-traders that had stuck in stop-loss orders. Now when they wake up in the morning, they can look at their balances, and then climb back into bed and cry into their pillows because they got their pockets picked.
Bitcoin trading is not Wall Street, and if you try that crap eventually you will get eaten.
It's no different than trading anything else - there is no formula, and most traders, including professionals, end up failing to beat the market. Actually they do differ. Bitcoin is much more volatile and have much wider swings up and down, so while the principles might be the same or at least similar, the actual values are quite different. This means that if you take some constants from your wall street trading, and you "just use them" in Bitcoin, they will perform quite poorly. That's why he wrote that example about stop-loss orders: in wall street market, likely such an order would have made sense. Here it was just a normal swing.
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BitcoinAshley
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October 28, 2013, 02:26:30 PM |
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Still waiting for the "bubble" to pop, Op
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JimboToronto
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You're never too old to think young.
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October 28, 2013, 06:03:39 PM |
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Still waiting for the "bubble" to pop, Op
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BitcoinAshley
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October 29, 2013, 03:58:14 PM |
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Let me guess... this is just a "dead cat bounce," right, OP?
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BitcoinAshley
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October 31, 2013, 01:34:12 AM |
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OK, it's official, the "bubble" is DEFINITELY "popping" ... ... it's just doing it really, really, really, slowly. Nice call, OP
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wobber
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January 08, 2014, 12:49:01 AM |
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Reviving this thread because it suits well today.
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If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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freedomno1
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Learning the troll avoidance button :)
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January 08, 2014, 01:30:51 AM |
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Looking back I feel that defining a bubble should be measured in weeks not months
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Believing in Bitcoins and it's ability to change the world
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