I am happy now

[MicroGuy]

I believe prices of more than 250 are unsustainable and we will eventually get even lower.

This make sense to me.

I think one of the major drivers of this will be the money spilling over to the altcoins. You can already see this happening with litecoin which so far is holding much of its gains. This trend is bound to expand as investors look to explore additional opportunities in other promising altcoins.

[JimboToronto]

In other words...NAH NAH NAH I TOLD YOU SO....what a twat.

+1

Price drops to where it was yesterday and he thinks it's June 2011 and April 2013 all over again. That's just foolish.

Then he brags about the happiness he feels from thinking Bitcoin is tanking because he thinks a bunch of strangers on the internet will see him as some sort of all-knowing guru. Pathetic.

[Enira]

I was screaming the last 2 weeks "bubble" and nobody listened. People were delusional, thinking of new paradigms, prices of 10,000 USD and so on. But history repeated, bubble popped and lots of people are now at a loss. Sadly, that's the name of the overspeculation game.

I believe prices of more than 250 are unsustainable and we will eventually get even lower. China is not buying, it's speculating. It's playing. Chinese are mostly gamblers, not investors.

So, see ya at 300s

What are you, are you twelve?  

You can keep screaming till you are right at this point.
If after a few years someone magically discovers a fundamental flaw that scares the shit out of people, or another thing comes along. You'll be there at the sideline too screaming: remember November 2013? I've said it that it was just a bubble.

You are the same person that watches friends having a relationship and always criticizes that they will break up, and when they eventually do so after a few years you will say that you knew it all along.
But the reality is that your friend gained experience in a relationship and had two years of sex in the meantime.

Take a good damn hard look at yourself.

[damnek]

Wobber is quite a figure. I recall that in 2011 he came here bragging that he made $20k in a single trade with bitcoinica (showing a screenshot). He didn't close his position while he was talking about it here and got wiped out within an hour. I guess he grew back some balls in those 2 years..

[NorbyTheGeek]

I was screaming the last 2 weeks "bubble" and nobody listened. People were delusional, thinking of new paradigms, prices of 10,000 USD and so on. But history repeated, bubble popped and lots of people are now at a loss. Sadly, that's the name of the overspeculation game.

I believe prices of more than 250 are unsustainable and we will eventually get even lower. China is not buying, it's speculating. It's playing. Chinese are mostly gamblers, not investors.

So, see ya at 300s

You do know what "gain" and "loss" mean, don't you?

If I had bought 1 BTC at $400, and the price drops to $300, how much have I lost?  Nothing, until I sell that Bitcoin.

In the meantime, I still have 1 BTC.  And the market can do just about anything.  I don't lose (or gain) anything until I trade that coin.

[Jungian]

I was screaming the last 2 weeks "bubble" and nobody listened. People were delusional, thinking of new paradigms, prices of 10,000 USD and so on. But history repeated, bubble popped and lots of people are now at a loss. Sadly, that's the name of the overspeculation game.

I believe prices of more than 250 are unsustainable and we will eventually get even lower. China is not buying, it's speculating. It's playing. Chinese are mostly gamblers, not investors.

So, see ya at 300s

You do know what "gain" and "loss" mean, don't you?

If I had bought 1 BTC at $400, and the price drops to $300, how much have I lost?  Nothing, until I sell that Bitcoin.

In the meantime, I still have 1 BTC.  And the market can do just about anything.  I don't lose (or gain) anything until I trade that coin.

Well, that is not how it works. What something is worth is what you can trade it for, so if you bought it for 500$ and now can trade it for 400$, you made a loss in your trading power vs the dollar.

Maybe that trading power will shift, but at that moment you have made a loss.

[zachcope]

I was screaming the last 2 weeks "bubble" and nobody listened. People were delusional, thinking of new paradigms, prices of 10,000 USD and so on. But history repeated, bubble popped and lots of people are now at a loss. Sadly, that's the name of the overspeculation game.

I believe prices of more than 250 are unsustainable and we will eventually get even lower. China is not buying, it's speculating. It's playing. Chinese are mostly gamblers, not investors.

So, see ya at 300s

Quoted for yearly laughs this time in 2014,2015,2016,2017,2018....

[NorbyTheGeek]

You do know what "gain" and "loss" mean, don't you?

If I had bought 1 BTC at $400, and the price drops to $300, how much have I lost?  Nothing, until I sell that Bitcoin.

In the meantime, I still have 1 BTC.  And the market can do just about anything.  I don't lose (or gain) anything until I trade that coin.

Well, that is not how it works. What something is worth is what you can trade it for, so if you bought it for 500$ and now can trade it for 400$, you made a loss in your trading power vs the dollar.

Maybe that trading power will shift, but at that moment you have made a loss.

Ok, maybe I was thinking of realized loss.  I don't treat the devalued bitcoin as a loss until I trade it back to USD.

[Tzupy]

IMO the bubble has burst, and now we are in the capitulation phase. The rise from 503$ to 747$ was wave B (fake return to bull market),
but for now there still is a limited supply of coins in the market. And events unfold about 6 times faster than in April or June.
It is hard to predict a bottom, it depends on how many more coins will appear in the order books, but right now it seems the bottom will be
annoyingly high for bears like me, in the 350$ - 400$ region. I believe that the market won't know that it's capitulating until the last hours.

[BittBurger]

I was screaming the last 2 weeks "bubble" and nobody listened. People were delusional, thinking of new paradigms, prices of 10,000 USD and so on. But history repeated, bubble popped and lots of people are now at a loss. Sadly, that's the name of the overspeculation game.

I believe prices of more than 250 are unsustainable and we will eventually get even lower. China is not buying, it's speculating. It's playing. Chinese are mostly gamblers, not investors.

So, see ya at 300s

It wasn't not a bubble.

People simply bailed at 800 because that was their trigger number.  They'd been planning to do so all along.

Then people bailed at 900 because that was *their* trigger number.   They'd been planning to do so all along.

It will happen again at $1,000 probably much bigger.  

Bubbles imply overvalue.  That isn't whats going on.  

These are long term holders (several months, maybe years) finally hitting that crazy high they've been waiting for.

How did it get to that high?  Because that's what its worth.  

How do we know that?  Because we're back at $700+ already.

Bubbles don't recover instantly.  This one has.

Bubble was in April.  It spiked fast, it crashed fast, and it didn't recover for months.

Its less than 10 hours later now, and we are already back to 700+

It wasn't a bubble.  

You didn't tell us so.

Want proof?

Yesterday's Top Headline:

"Senior U.S. law-enforcement and regulatory officials said they see benefits in digital forms of money... US officials ... called it a "legitimate" financial service. Federal Reserve Chairman Ben Bernanke... said... that virtual currencies "may hold long-term promise, particularly if the innovations promote a faster, more secure, and more efficient payment system."

Bitcoin bubble didn't burst.  Bitcoin is more legitimate and poised for long term success than it has ever been.

People just cashed out because it hit the high they were waiting for.

[bitcon]

the "bubble" starts after we hit $1500