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Author Topic: Price is doomed to melt up  (Read 1386 times)
Joe200
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November 22, 2013, 03:09:14 PM
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Say there is a major peak. Everyone sells their coins. The only reason they are selling is because they want to re-buy lower. But at the lower price, they are bidding on more coins than they sold. The number of coins is fixed. The extra coins demanded only pushes the price higher.

Or, they missed the boat and could not re-buy lower. Once the price passes their sell point, they start panic buying.
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wobber
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November 22, 2013, 03:10:28 PM
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Yes, and this happened many times. Even if the price then just went down further, people did panic buy before.

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November 22, 2013, 07:06:47 PM
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The only reason they are selling is because they want to re-buy lower.
Or because they have no long-term confidence in BTC and have reached their prearranged exit price.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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November 22, 2013, 10:06:18 PM
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Or if they are selling because they want to spend the USD in the real economy.
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November 22, 2013, 10:17:02 PM
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Quote
if the world is looking at bitcointalk.org to see whether bitcoin is worth the risk......bitcoin is doomed.
Yes and no.  Bitcointalk isn't good, on its own, for gauging sentiment.  But it's the best place to look first to see what's happening.  After that, check the news outlets, and make your own judgement.
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November 22, 2013, 11:55:01 PM
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my pop was just telling me how he saw BTC mentioned on yahoo news today. sign of the times

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