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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. |
No
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windjc
Legendary
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Activity: 2156
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
Legendary
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Activity: 4004
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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
Legendary
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Activity: 1064
Merit: 1001
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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
Legendary
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Activity: 1806
Merit: 1090
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 |
Believing in Bitcoins and it's ability to change the world
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