Why the *POP*?

[W-M]

Today the price had a significant dip.

I've already heard many speculations about the reasons for it. Some say it's because of Black Friday, others because of this fake disclosed private addresses list.

What's your opinion? What caused it?

~W-M

[Boxman90]

It wasn't a pop. It was a bleed. A long overdue correction due to a lightning fast unhealthy rise.

[cbeast]

It wasn't anything but weak hands being flushed out. Expect another large jump ATH this week.

[Boxman90]

It wasn't anything but weak hands being flushed out. Expect another large jump ATH this week.

Those "weak hands" that are "shaken out" are the ones you so dearly need for mass adoption, remember that.

[wobber]

It wasn't anything but weak hands being flushed out. Expect another large jump ATH this week.

Those "weak hands" that are "shaken out" are the ones you so dearly need for mass adoption, remember that.

What's wrong with being a weak hand? They will either learn the lesson, or go with their money in fiat.

[zeroday]

Every time it happens, more and more people become immune to these flash-crash manipulations.

I suspect that even some "manipulators" have losses when they dump huge amounts to initiate panic, but then cannot re-buy at reasonable price because other traders just rush buying "cheap coins".

[Boxman90]

What's wrong with being a weak hand? They will either learn the lesson, or go with their money in fiat.

Don't we need mass adoption? That being, not scaring away the 'weak hands'? Everybody here wants the 1 million USD bitcoin, yet everyone gloats when the noobs get hurt in crashes like these. It's a bit dual, isn't it?

[byronbb]

What's wrong with being a weak hand? They will either learn the lesson, or go with their money in fiat.

Don't we need mass adoption? That being, not scaring away the 'weak hands'? Everybody here wants the 1 million USD bitcoin, yet everyone gloats when the noobs get hurt in crashes like these. It's a bit dual, isn't it?

Noobs are playing a game they chose to play. Most of them aren't even aware they are playing a game. All market based trading is a zero-sum game. Someone has to lose when someone else wins. Either accept it or go play some Co-Ed Volleyball where they don't keep score.

[exstasie]

I remember when $500 was the crazy ceiling limit that every said it wouldn't hold to..

[smoothie]

It wasn't a pop. It was a bleed. A long overdue correction due to a lightning fast unhealthy rise.

I LOLed at the bolded part.  

I agree the U.S. dollar and other fiat currencies are unhealthily dropping in value in relation to Bitcoin.

[Boxman90]

Hey I'm all about playing this game, don't get me wrong. It just amazes me why everyone keeps scorning the noobs while they so dearly need them for mass adoption.

Also, zeroday, while the flash-crash may be over, this one was unusual - earlier, flash-crashes only followed parabolic unsustainable rises. Now it followed a slow topping-out and start of a slow descent.

We'll see how bullish you're staying the next few weeks.

[beetcoin]

there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.

[smoothie]

Hey I'm all about playing this game, don't get me wrong. It just amazes me why everyone keeps scorning the noobs while they so dearly need them for mass adoption.

Also, zeroday, while the flash-crash may be over, this one was unusual - earlier, flash-crashes only followed parabolic unsustainable rises. Now it followed a slow topping-out and start of a slow descent.

We'll see how bullish you're staying the next few weeks.

Just because people differ on view doesn't constitute it as "scorning".

EXAMPLE:

Noob thinks it is time to sell.


I think it isn't.


Noob sells.


I LOL.

(that isn't scorning).

 

[Boxman90]

there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.

Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas.

[beetcoin]

there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.

Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas.

i've seen tons of threads and predictions of "it's grown too much, it simply cannot sustain its current rate of growth.. but nothing grows that fast."

[smoothie]

there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.

Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas.

I say it could reach $10,000 by June 2014.

[disclaimer201]

Here's how I saw it: When BTC dipped a bit in China and went to 5400 CNY gox went down. Many people were watching Gox. China went back up to 5500 while Gox was still down and lagging. Now, while price was already recovering, a whale on BTC-e decided to put up a huge sellwall. Chart looked like a bloodbath for a while causing panic although China was way back up and even Gox price recovered. Whale went shopping for cheap coins and of course, everything was back on track right before bed time.

[Boxman90]

Here's how I saw it: $$$

[mb300sd]

Here's how I saw it: $$$

BTCBTCBTC

[windjc]

I am not convinced this correction is over.  All the exchanges look like they want to test the lows again to me.

Of course, the one thing that could stop this would be new money coming into the banks in about 4 hours.