Bitcoin Crashing Again?

[marcotheminer]

Could this be signs of another crash?



If you want to help me earn my first bitcoin: feel free:

12hYBWiPqfwdveGzpbRdGxeqnoMcNvGNSq

[1713559849]

1713559849

[I_bitcoin]

Wake me up when it hits 10 cents.   I might worry then. 

[zeroday]

china is dumping now. 6000CNY -> 4900 CNY

IMO, another bear trap

[chriswilmer]

china is dumping now. 6000CNY -> 4900 CNY

IMO, another bear trap

+1

[CMMPro]

This is probably another correction....but we can all read the charts, we don't need someone to freak out every time there is a little fart in the market.

[BittBurger]

This is probably another correction....but we can all read the charts, we don't need someone to freak out every time there is a little fart in the market.

This is the very reason anyone makes money on markets.

Because of human beings propensity to run for the hills at the slightest sign of bad news.

The rest get a better price and make money.

[GriTBitS]

its just like normal, obama on tv. markets go down!

[MatTheCat]

IMO, another bear trap

The problem with that, is if Bitcoin were to crash right back to $100, you would be saying 'Bear Trap' all the way down.

[eindbaas]

Little correction , one fat chinese mofo cashed out. Bought 5 bitcoins again at 760. Now lets go to the moon again. 1000 dollars on bitstamp in 2 days.

[windjc]

IMO, another bear trap

The problem with that, is if Bitcoin were to crash right back to $100, you would be saying 'Bear Trap' all the way down.

No, if Bitcoin crashed to $100 we'd say something else. Has that happened? Hell no.

Its gone down a $100ish. Big woop. We all know you are a bear trolling for lower prices, but this thing will be at $1000 in less than 6 days.  And when someone researches your post history you will be discredited. Again.

[MatTheCat]

Its gone down a $100ish. Big woop. We all know you are a bear trolling for lower prices, but this thing will be at $1000 in less than 6 days.  And when someone researches your post history you will be discredited. Again.

Really!?

If you research my posts you will see that I have predicted two crashes (not that it was hard to see), in the face of a flurry of desperately unfunny 'face palm' jpegs etc. The first time around, I admit I took took pleasure in revisiting the most arrogant and asking how their investments were doing.

The last crash however, never turned out the way I was expecting. Bitcoin bounced right back (on western exchanges) and is being held up by hoarding, as opposed to the flurry of new buyers all the nutters on this forum keep talking about. Although we now are still in midst of another correction, I would have to admit to a complete recovery. I was wrong, and I have since changed my outlook on Bitcoin in addition to to my financial stance towards it. However, even the most recent correction (down around 20% in the space of one night), would be considered a catastrophic crash in any other market.

You say that I am a troll looking for lower prices, perhaps, but if that were the case, that would be no different to being a troll trolling for higher prices, like the majority on here, who serve up nothing in their posts but pure idiocy on toast, so long as it somehow supports Btc going to the moon.

I am long on Bitcoin and intend to go longer. But unlike most of the rest of you, I strongly believe that one day Bitcoin will not exist. Even if it goes to $10000 before it implodes into oblivion.

[Mellnik]

Please stop begging for bitcoins, OP

[PenAndPaper]

This is probably another correction....but we can all read the charts, we don't need someone to freak out every time there is a little fart in the market.

I don't think that many people freak out in this forum. As far as i can tell for the most of us here every crash is just a correction and every dip a bear trap. I 'm sure that even if bitcoin goes down to 1$ there will be guys telling that it's a correction.  

[Gordonium]

The Great Crash is coming!

[Gordonium]

You'll see.

[mccoyspace]

The Great Crash is coming!

Back up to $800 again. Huh? Was that it?

[BitcoinAshley]

Really!?

If you research my posts you will see that I have predicted two crashes (not that it was hard to see), in the face of a flurry of desperately unfunny 'face palm' jpegs etc. The first time around, I admit I took took pleasure in revisiting the most arrogant and asking how their investments were doing.

The last crash however, never turned out the way I was expecting. Bitcoin bounced right back (on western exchanges) and is being held up by hoarding, [...]

That's all I saw; I stopped reading when I realized he was going to whine about hoarding.

Those damn hoarders! You sound like FDR during the great depression - it's just so darn EASY to blame everything on speculators and hoarders, when the behavior of those market actors is merely an effect of market conditions rather than a cause.
I would love to speculate on a single current cause of the price being held up, but chances are, there are dozens of significant reasons, and blaming it on "hoarders" is a great way to illustrate the kind of reductionist, polar, linear thinking that is taught in public schools these days - and even university economics courses, where the idea that the great depression was caused by foolish monetary policy is considered to be held by fringe lunatics.

Fekete would say that hoarders are a natural part of a market and serve to provide and remove liquidity. Everyone has their price and that goes both ways. We can't really consider this an artificial or unnatural influence. People like to whine about hoarders and centralization in BTC yet the USD has 1% of the holders with 40% of the dollars or something along those figures... and what about gold? Unless you're attending Porcfest or live in some backwater town in Arizona, you can't exactly spend gold, so every single gold-holder is a hoarder! Who or what is immune to this natural behavior? Hoarding is really not suitable as a scapegoat, especially since there is really not an appropriate definition of how much savings vs. monthly spendings makes ones a hoarder vs. a responsible saver. If I have 5000 BTC but spend about 2 every month am I  a hoarder or just someone with a big retirement account? If I have 100 BTC but spend none of it, am I a hoarder or just someone who spends in one currency and has a responsible savings account in another? If I have 20,000 BTC am I a 'hoarder' or just a rich mofo with a lot of bitcoins? What a futile game. "Hoarder, responsible saver, or rich motherfucker?" What about if I have 25,000 BTC, am constantly investing more fiat, and spend 500 per week on my chaffeurs and mansion upkeep and bunch of other stuff? I might be very offensive but does not my ratio of spending vs. saving qualify me as a 'responsible saver' rather than a "low-down dirty hoarder"... except that it doesn't work that way, does it?

EDIT: Here you go: Hoarding and Dishoarding, first section. Learn something! http://www.professorfekete.com/articles/AEFMonEcon102Lecture1.pdf

[bitcon]

i'm just a filthy, dirty, hoarde.

[zubelutte]

You'll see.

When exactly ? I see your Crash is comming post yesterday as well...

[notme]

i'm just a filthy, dirty, hoarde.

Me too.  If only I had hoarded better back when I was mining 0.5% of the network .