The Bubble Popped

[Birdy]

I am confused.
Do bubble pops usually include buying at new highs?
That's what Bitstamp did just a few moments ago.

[klee]

I am confused.
Do bubble pops usually include buying at new highs?
That's what's Bitstamp did just a few moments ago.

LOL

[TERA]

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...

[klee]

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...

[Rival]

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.

[BitcoinAshley]

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 

[mccorvic]

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.

[BombaUcigasa]

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!

[Ipsum]

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.

[BittBurger]

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.

[BittBurger]

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.

[hyphymikey]

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.

[freedomno1]

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

[BitcoinAshley]

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

[CurbsideProphet]

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.

[SgtSpike]

We may have had a correction, but the rally isn't over yet!

[antimattercrusader]

I'm representing! Every service based or mom/pop business I go into I am preaching it!

[Hfleer]

Well it was quite a drop, and I wasn't happy to see it.  But it's fairly typical for Bitcoin lately.

[sunsofdust]

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?

[MAbtc]

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.