This time it's going BELOW 400

[ajax3592]

No intention to spread panic but judging by the $100 crash in less than a hour, and weak chinese hands unfortunately I think we are going to see the big day today. Tread very carefully.
How many of you agree?

[wobber]

No intention to panic.

[MatTheCat]

No intention to spread panic but judging by the $100 crash in less than a hour, and weak chinese hands unfortunately I think we are going to see the big day today. Tread very carefully.
How many of you agree?

595 is my guess!

HIGHER or lower?


LOOOOWWWWEEEER!

[bitcon]

666

[zeroday]

I love panic
Just wired 6 figures amount to bitstamp.

[bitcon]

good thing youre not using gox = bad gateway

[wasserman99]

made a bit day trading this.... makes me so nervous tho. much nicer to day trade alts when bitcoin is rallying. 

[wasserman99]

but i dont think its going below 400, not on the initial bounce. in a prolonged bear market though, definitely.

[beetcoin]

i think there is going to be strong resistance at $600, but that's just my uneducated guess. bitcoin over this year has become much more robust and resistant to the "noise."

[GigaCoin]

good thing youre not using gox = bad gateway

seemed like it went down for a bit, back up now. Remember the days when Gox went down the market would crash ? Ahhh good times  

[imamanandyou]

I love panic
Just wired 6 figures amount to bitstamp.

Next week price may be over $1,000 again 
You need money ready at exchange

[Manna]

Be greedy when others are fearful --> panic selling - explains best what to do at the moment

[beaconpcguru]

Just some GoxLooping™ but I wish you luck LOL

[xephyr]

No intention to spread panic but judging by the $100 crash in less than a hour, and weak chinese hands unfortunately I think we are going to see the big day today. Tread very carefully.
How many of you agree?

There is very strong support at the $800 USD level. I think only if $750 on BitStamp is taken out will we possibly see $600 again. Lot of folks will snap up bitcoin at the $800 level considering that price a bargain.

[Oldminer]

The price wont stop dropping until its at a bargain price again. $800 is not a bargain.

[zeroday]

I love panic
Just wired 6 figures amount to bitstamp.

Next week price may be over $1,000 again 
You need money ready at exchange

It's true. I hope it will be at least below 900 tomorrow.

[navigator]

I can sell at $25 and still profit. 

glhf

[ajax3592]

I can sell at $25 and still profit.  

glhf

Huhh, the gifted early adopter prince !!

P.S - I think we just hit 800 on Gox

[Definit]

when it drops to -80% from the high, that is a crash... which would be in the $250-300 range... then it will bounce back up+65%-75%...and back down -50%... then start to settle midway, maybe 650-750 range....

that is where the real money is made... never invest until you see blood in the streets.

[beetcoin]

how many bear threads have there been where people overestimated the level of the crash? it seems in the past month i've seen lots of those posts where people think it will go back to $300 or $400.. but it hasn't even come close yet. after all these mini crashes and mini rebounds, it seems to me that BTC is becoming more resistant.

[kireinaha]

We haven't had two days in a row since October in which the price didn't at least maintain it's previous day's close level or make gains. This prolonged drop is going to cause a lot of investors to secure their profits, so yes, we will see a return to $400 or $500 easily.

[Wilhelm]

$400 LOL having wet dreams again

[GeniuSxBoY]

thread fails to deliver

[superduh]

didn't happen /thread

i'd be willing to bet you a btc that it won't hit 400 on bitstamp by end of weekend

[Bitbuy]

I'm out for the weekend...no use paying attention now if you're in it for the long run, this will only lead to bad things happening. See you after the weekend.

[immortal4now]

Below 400
And thank you for notice cheap coins are available to buy, 800 is good price

[ajax3592]

Told ya, it's going to plummet, I think we are going down even more.

[accord01]

If it goes below 400, it is going down to 100-200 range, and could potentially hit single digits.  This is what happens when a currency no one spends goes from 120-1200 in 1 month.

[wobber]

We haven't had two days in a row since October in which the price didn't at least maintain it's previous day's close level or make gains. This prolonged drop is going to cause a lot of investors to secure their profits, so yes, we will see a return to $400 or $500 easily.

"investors" - i LOL at this word.

2/3 of the investors and speculators are loosing their money right now, because they bought frenetically at over 800 (most at over 1000)

[Argwai96]

maybe but only briefly if so. i think we will see a very nice bounce there.

[accord01]

maybe but only briefly if so. i think we will see a very nice bounce there.

I don't think there will be a great big dead cat bounce in this one... because of the double top, unlike the single top in April.  This one could be scary.  The harder it rises, the harder it falls.

[ajax3592]

maybe but only briefly if so. i think we will see a very nice bounce there.

I don't think so, the market is dangerous right now, most of the people that just woke up in Asia would be cashing out at this moment.

[removebeforeflight]

500 please, nice round number. Hate decimals :-)

[wanttolearn]

I think it is going to 600, or maybe 500.
It's already 700 now.

[tacotime]

After the $30 bubble, bitcoin went down to $2 before rising back up.  At $1200 as the new peak, we're looking at the price going down to ~$80 if history repeats itself.

[freebird]

After the $30 bubble, bitcoin went down to $2 before rising back up.  At $1200 as the new peak, we're looking at the price going down to ~$80 if history repeats itself.

It's a lot harder for something to go down as much when it's got a bigger market cap. There's no way it'll go back under $100. I think the bottom will be somewhere about halfway between where this rally started and where it ended, i.e. halfway between $150 and $1250. I don't think it'll go below $500.

[Gimmelfarb]

bottom of my bids is $300. hoping it doesnt go below that -- at least not before a nice bounce!

[ajax3592]

The 2011/12 crash was from $33 to $2. Similarly in April 2013 it went from $264 to $50.
We're not even halfway yet.

[freebird]

The 2011/12 crash was from $33 to $2. Similarly in April 2013 it went from $264 to $50.
We're not even halfway yet.

As the market cap has grown, the crashes have become less deep.

• $33 to $2 is a 94% drop.
• $264 to $50 is an 81% drop.
• $1,250 to X should be something like a 60-70% drop if the pattern continues. Which means the new low would be somewhere in the $400s.
  

I'm guessing it won't go below $500, but maybe $400 at the worst.

[tacotime]

The 2011/12 crash was from $33 to $2. Similarly in April 2013 it went from $264 to $50.
We're not even halfway yet.

Maybe it's a geometric series like bitcoin itself

First crash 1/15 valuation
Second 1/5
Third 1/(5/3) --> 1/1.6666 * $1200 = $720

[ajax3592]

The 2011/12 crash was from $33 to $2. Similarly in April 2013 it went from $264 to $50.
We're not even halfway yet.

Third 1/(5/3) --> 1/1.6666 * $1200 = $720

It is 660 on Stamp right now, what do you mean with 720?

[testerx]

570 on stamp as I'm sitting here...under 400 is looking very possible now. 

[zuckerant]

Don't think it is but 500 is possible. I bought back in because it's too stressful. Will make me some coffee and eat breakfast.

A sell order at $580 (bitstamp) nearly got executed (cancelled it 4 seconds before) due to a flashbuy while the highest bid price was $545.60. Could be profit but also a loss if more flashbuys happen.

[Habeler876]

yeah 300 is possible. maybe even 250, though i doubt it.

[malaimult]

570 on btce and conbase. i think we will see the 400

[shadowninjax]

looks like it will happen, we're on the 570 mark right now. 

[mp420]

I don't mind the crash. As long as the price ends up above $20 in 2013 I think BTC has done extremely well.

[ajax3592]

I don't mind the crash. As long as the price ends up above $20 in 2013 I think BTC has done extremely well.

Yes even if it lands up at $60 that's a good 4x the January 2013 price.

[AceWallen]

i'm hoping to have the bulk of my bids fill in the $300 area. fingers crossed!!!!! and then the market can rise, thank you.

[ajax3592]

i'm hoping to have the bulk of my bids fill in the $300 area. fingers crossed!!!!! and then the market can rise, thank you.

Expect ~200 levels in a day or two.

[juve4v]

i'm hoping to have the bulk of my bids fill in the $300 area. fingers crossed!!!!! and then the market can rise, thank you.

Expect ~200 levels in a day or two.

Not going to happen.

[knarzo]

i'm hoping to have the bulk of my bids fill in the $300 area. fingers crossed!!!!! and then the market can rise, thank you.

Expect ~200 levels in a day or two.

http://www.youtube.com/watch?v=G9_OL1eceY0

[greaterninja]

prices seem to have stabilized in $600 USd range  it may very well go back up from here.

[shadowninjax]

prices seem to have stabilized in $600 USd range  it may very well go back up from here.

we may be both ninja's but we never know, it might be towards the downward trend.. 

[freequant]

prices seem to have stabilized in $600 USd range  it may very well go back up from here.

Bull trap

[Beans]

No intention to spread panic but judging by the $100 crash in less than a hour, and weak chinese hands unfortunately I think we are going to see the big day today. Tread very carefully.
How many of you agree?

Sounds pretty ridiculous to me.

[ajax3592]

No intention to spread panic but judging by the $100 crash in less than a hour, and weak chinese hands unfortunately I think we are going to see the big day today. Tread very carefully.
How many of you agree?

Sounds pretty ridiculous to me.

Not pretty ridiculous now, eh ?

[outofservice]

Wow, Coinbase dropped $24 bucks as soon as MT Gox it the $500 wall.
It was at 502 CB buy, Mt G hit 500, I hit refresh on CB and 476 for the buy, that all took about 2 mins at most.


Is this Europe waking and dumping?
Maybe a bounce with ppl jumping on the 500 mark?