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Author Topic: Bitpay just processed its first 1,000,000 USD order, Dump incoming?  (Read 5240 times)
SheHadMANHands
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October 30, 2013, 02:40:32 AM
 #41

Might dump in few transaction over the few weeks, so if you think this has big impact then sell first and buy later Smiley

This interview today with Galllipi confirms that the BTC has already been absorbed via a combination of private sales and exchange transactions.

http://www.youtube.com/watch?v=UdV48a-Ay2k

Those hoping for a decline based on this news, will be waiting a long time.

Interesting..
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ronaldlee0917
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October 30, 2013, 04:05:32 AM
 #42

This 1mil is nothing, what worries me more is the seized bitcoins(BTC140,000) by FBI.

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Spekulatius
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October 30, 2013, 04:35:57 AM
 #43

5000 BTC SELL wall on Bitstamp just now, the dump??
rpietila
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October 30, 2013, 08:56:19 AM
 #44

The more bears in the forum, the better.  Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.
windjc
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October 30, 2013, 09:00:26 AM
 #45

The more bears in the forum, the better.  Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.

We all want it to go up, but its a little arrogant to think we can't go back down. We certainly can. We can go back to <195 or <150 or lower.

Probably not tomorrow, but things could certainly happen.

We would not need to reverse trend down for more than a handful or days or weeks to go below 195 again. And even if this thing goes to 300, we could easily flash crash to <150.

I think we hang out in a $20-$40 range for a bit before testing the ATHs early next year, but that doesn't mean even 2014 want see some days (or hours) under 150.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
rampalija
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October 30, 2013, 09:07:58 AM
 #46

There will certanly be more flash crashes with BTC, i see that volume of BTC are increasing now in free market

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October 30, 2013, 09:14:26 AM
 #47

The drop is imminent, but it remains to be seen if there will be 3 drops in relatively quick succession or just 1 followed by a slow recovery.

Sometimes, if it looks too bullish, it's actually bearish
ninjaboon
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October 30, 2013, 11:44:21 AM
 #48

The more bears in the forum, the better.  Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.

We all want it to go up, but its a little arrogant to think we can't go back down. We certainly can. We can go back to <195 or <150 or lower.

Probably not tomorrow, but things could certainly happen.

We would not need to reverse trend down for more than a handful or days or weeks to go below 195 again. And even if this thing goes to 300, we could easily flash crash to <150.

I think we hang out in a $20-$40 range for a bit before testing the ATHs early next year, but that doesn't mean even 2014 want see some days (or hours) under 150.

Last time we broke an ATH, the "bubble" continued to inflate 8 times higher before crashing/correcting...

So we can expect a new ATH somewhere between $1500 and $2500, followed by a crash to "below $500" and a new stable price around $1000...

Just wait and see.



I was thinking the same thing. My crystal balls says it will happen end of Dec 2013. Don't quote me.

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October 30, 2013, 11:44:49 AM
 #49

This 1mil is nothing, what worries me more is the seized bitcoins(BTC140,000) by FBI.

why do you worry?

rampalija
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October 30, 2013, 12:25:27 PM
 #50

Volume of BTC in offered is increasin fast, as i see now so i am expectnig another dump of BTCs

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rpietila
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October 30, 2013, 12:31:54 PM
 #51

Last time we broke an ATH, the "bubble" continued to inflate 8 times higher before crashing/correcting...

So we can expect a new ATH somewhere between $1500 and $2500, followed by a crash to "below $500" and a new stable price around $1000...

Just wait and see.

Sounds about right.

The reason why I keep my BTC/fiat ratio at about 20:1 almost always is that there is not so much regularity in bitcoin that would easily allow trading strategies that enable you to consistently increase your BTC holdings, relative to simple buy & hold.

The most difficult part is megamoves, such as Jan 15-Apr 10, 2013. Tell me about even one trader who managed to increase his bitcoin stash during this period! Yet all simpletons such as me managed to keep theirs intact by just refusing to trade. (Minimizes taxes also)
gaston909
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October 30, 2013, 01:08:42 PM
 #52

Nobody bought 1 mil of BFL equipment.

It's a late april fools story.
rampalija
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October 30, 2013, 03:03:40 PM
 #53

On Gox a million USD dump would still only go down just under $200.   This would be a normal dump and most likely recovered in an hour or so.
5k would have been a normal dump 6 months ago. 5k is a massive dump now and no way would the price recover in one hour, especially if done on one exchange. Panic would probably kick in.

there will be no panic. How much money is invested to BTC we can only dream about it

Oh? What was that that happened October 23rd (6 days ago)? An instant 25% drop in price (Gox), but no panic? Hmmm.

Ppl are waiting for dump, and inc1-2 daS btc will recover again

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Tzupy
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October 30, 2013, 03:43:49 PM
 #54

The drop is imminent, but it remains to be seen if there will be 3 drops in relatively quick succession or just 1 followed by a slow recovery.

The market seems undecided which way to go. Maybe there are too many drunk traders?

Sometimes, if it looks too bullish, it's actually bearish
rampalija
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October 30, 2013, 04:17:06 PM
 #55

market rly dont know where to go, up or down

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600watt
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October 30, 2013, 08:25:17 PM
 #56

The drop is imminent, but it remains to be seen if there will be 3 drops in relatively quick succession or just 1 followed by a slow recovery.

to all those drops/downswing/bursting/correction/etc/etc bubbles talking:

30 day average gox $:       166,- currently at 208 $
30 day average bstamp $:  154,- currently at 199 $

smells rosy, nothing rotten here  Wink
windjc
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October 30, 2013, 08:53:44 PM
 #57

The more bears in the forum, the better.  Cheesy

Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.

Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.

We all want it to go up, but its a little arrogant to think we can't go back down. We certainly can. We can go back to <195 or <150 or lower.

Probably not tomorrow, but things could certainly happen.

We would not need to reverse trend down for more than a handful or days or weeks to go below 195 again. And even if this thing goes to 300, we could easily flash crash to <150.

I think we hang out in a $20-$40 range for a bit before testing the ATHs early next year, but that doesn't mean even 2014 want see some days (or hours) under 150.

Last time we broke an ATH, the "bubble" continued to inflate 8 times higher before crashing/correcting...

So we can expect a new ATH somewhere between $1500 and $2500, followed by a crash to "below $500" and a new stable price around $1000...

Just wait and see.



No. This is faulty logic. It assumes that its just as easy to go from $150 to $2500 as it is to go from $15 to $266. This is just not true. The amount of cash into the markets to make this happen is an exponential amount.

It is in fact several times more difficult to have a rise like this. And IF a rise that this occured, it would occur over a MUCH longer period of time. Consider how long a period of time it took the 2000 dot com bubble to build. Months. Actually years.

Of course that bubble was several magnitudes beyond what a BTC climb to 2500 would be, but the point is still the same.

The next "bubble" won't be from here to $2500.  Not unless you assume a scenario where there is a slow rise for several months/years that is predicated on no solid fundamentals developing within Bitcoin between now and then.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
notme
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October 30, 2013, 09:00:55 PM
 #58

Price reacts exponentially to a linear demand increase when supply is perfectly inelastic, as is the case with Bitcoin.  But nice try.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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October 30, 2013, 09:18:13 PM
 #59

Price reacts exponentially to a linear demand increase when supply is perfectly inelastic, as is the case with Bitcoin.  But nice try.

Hold on - You're talking about supply of the entire bitcoin network. You're neglecting that what's available on the exchanges, orderbooks, etc is not the entire picture and any new BTC can come in at any minute potentially huge amounts.  Wouldn't this go against your assumption that supply is "perfectly inelastic"
windjc
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October 30, 2013, 09:51:30 PM
 #60

Price reacts exponentially to a linear demand increase when supply is perfectly inelastic, as is the case with Bitcoin.  But nice try.

Its not nearly that inelastic. To go to $2500, someone has to pay you $2500 for that bitcoin.

If you think its going to balloon from where we are now to $2500 in a bubble, you'll see.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
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