Just let it crash Damn it!

[BadBear]

This has all happened before, this will all happen again. Bitcoin is constantly overshooting marks due to relatively low market cap, and swings wildly when derps panic, but the long term trendlines tend to hold true.

It isn't going to see 2 or 300 though, 500 at the lowest. Too much exposure.

[1714705956]

1714705956

[malaimult]

let it flowww, steady and gentle 

[xkeyscore89]

@ 200 300 will be perfect. remember when the price explode all major exchange websites and companies that use btc gone greedy and cheat or scam people.

I don't think that statement applies to all exchanges or companies that use BTC but, when the price drops like a rock so quickly that it scares even the value buyers from pulling the trigger and stabilizing the price, there are serious problems still to come.

I bet a lot of people bought around $860 when the price stabilized for 20-30 minutes.  Now, I wonder a couple of things about those people and other potential buyers:

1. Are they buying more now that the price is around $600?

2. Did they cut their losses and sell all their coins between the $860-600 price drop?
     2a. Will they place a buy order later or are they staying away until the price hits rock bottom?


3.  Have the events of the last 24 hours scared off any potential value buyers now that it's clear that the price has not yet reached any semblance of stabilization?

4.  At what price will true panic ensue?

[malaimult]

your questions will be answered on monday. its to early for predictions right now with the weekend coming.

[Habeler876]

i hope it doesnt go so low that people start thinking bitcoin really IS a bubble..... better stay above 266!

im guessing you bought in at 266 lol

no, my average buy is much, much lower than that, but to go below the previous ATH would be incredibly bearish

[xkeyscore89]

your questions will be answered on monday. its to early for predictions right now with the weekend coming.

I guess it would be wise to hold off on purchasing anything with my coins until sometime early next week when there's a chance for a legitimate recovery to begin.

[malaimult]

your questions will be answered on monday. its to early for predictions right now with the weekend coming.

I guess it would be wise to hold off on purchasing anything with my coins until sometime early next week when there's a chance for a legitimate to recovery to begin.

+1

[joris]

Im a new user who wants to invest on bitcoins and i feel the price for 1 bitcoin is absurd. Im certain is just this way because of some greedy chinese who took most bitcoin out of circulation and are waiting to cash out when they feel like. ...

Who has kept most bitcoin out of circulation until now? Would you call 'him' greedy?

Why are you entitled to invest and other folks not? You're probably planning the same as your subject of accusation of some evil deeds.

[blinky88]

So, who knows the answer as to why Bitcoins are falling now, currently at $688.3

[xkeyscore89]

your questions will be answered on monday. its to early for predictions right now with the weekend coming.

I guess it would be wise to hold off on purchasing anything with my coins until sometime early next week when there's a chance for a legitimate recovery to begin.

+1

Thanks for the vote of confidence.  I got paid 0.15 BTC on Thursday (12/5) for a transcription I did over in the Project Development sub-forum.  There was something I wanted to order but I was getting over a sinus infection and went to bed after I got home from class.  I went to bed when my 0.15 BTC was worth about $156.  Now, it's worth around $91.  If I just would've placed the order on Thursday, only about 33% of those coins would've been exposed to the rapid depreciation.  The site where I was going to buy something uses a third-party insurance company to hedge BTC in escrow.  Hindsight is 20/20 I guess.  

Well, it will all have been worth it when the price jumps to $1500 next week.