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Author Topic: BTC Going back to $100  (Read 18883 times)
daserpent1 (OP)
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December 07, 2013, 04:39:44 AM
 #1

As you might know already, Chinese and French banks are no longer supporting any transactions that involve bitcoins. Therefore, all chinese traders are doing a massive BTC dump.

I just sold all my BTC (made a loss but with this crash, its better to get out sooner than later)

Sources:

http://www.smh.com.au/business/markets/currencies/china-bans-banks-from-bitcoin-transactions-20131206-2yugy.html
http://articles.economictimes.indiatimes.com/2013-12-05/news/44808398_1_pseudonym-satoshi-nakamoto-bitcoin-trading-platform-chinese-banks
http://business.time.com/2013/12/05/bitcoin-plummets-after-china-bans-it-from-banks/
http://www.bbc.co.uk/news/technology-25233224
http://www.reuters.com/article/2013/12/05/china-bitcoin-idUSL4N0JK1KZ20131205
http://www.aljazeera.com/news/asia-pacific/2013/12/bitcoin-value-dives-after-china-banks-ban-2013125141919464366.html
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December 07, 2013, 04:59:24 AM
 #2

Happy you managed to save yourself from serious losses.

But BTC will only go up in the long term. It has happened before, and it'll happen again.

Also, I really don't think it'll go back to $100.
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December 07, 2013, 05:56:13 AM
 #3

Also, I really don't think it'll go back to $100.

Everything is possible when there's a global panic, and press report with negative news.

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daserpent1 (OP)
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December 07, 2013, 05:59:54 AM
 #4

Well I am 150% sure that this will be the biggest dump/crash in the history of BTC.

It is definitely going below $200 this time.
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December 07, 2013, 06:01:56 AM
 #5

Well I am 150% sure that this will be the biggest dump/crash in the history of BTC.

It is definitely going below $200 this time.
In how many hours do you speculate the $200 level to come.

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December 07, 2013, 06:13:02 AM
 #6

Why you care what he guess or speculate? He don't know anything more then you, he do just one of the things which a stockmarket player never should do: get afraid and fall in panic.


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Coin.Karma
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December 07, 2013, 06:26:52 AM
 #7


First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.
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December 07, 2013, 06:46:58 AM
 #8


First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Agreed with you on this, you make a good  point on redistribution of wealth and  the other  bubble will happen  once indian gets a  fully functional exchange. and then may be the africian union. who know with bitcoin the skys the limit.
giletto
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December 07, 2013, 06:48:09 AM
 #9


First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.
+1 Rep

this forum need really a reputation button.


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buysellbitcoin
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December 07, 2013, 07:34:23 AM
 #10


First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Can not agree more !!!

Regards

Download Zebpay Fastest way to Buy / Sell Bitcoins in India
Transaction processing within one working day and best bitcoin rates | Recharge airtime & buy vouchers of Amazon, Flipkart, Domino's at great discounts
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December 07, 2013, 07:40:42 AM
 #11


First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Can not agree more !!!

Regards

When are we resuming the trades, buysellbitco.in?

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December 07, 2013, 07:46:27 AM
 #12

Also, I really don't think it'll go back to $100.

Everything is possible when there's a global panic, and press report with negative news.

Yes, it's possible that it goes down to $0. That does not make it likely. I've been following bitcoin through every bubble and crash. It may go down to $100, it's just unlikely that it will because there will be thousands of people waiting to buy at that price.
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December 07, 2013, 07:50:51 AM
 #13

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

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December 07, 2013, 07:53:16 AM
 #14


Thats a day trader decision.

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December 07, 2013, 07:56:42 AM
 #15

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1   true

ajax3592
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December 07, 2013, 08:00:25 AM
 #16

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1   true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

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Benson Samuel
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December 07, 2013, 08:04:20 AM
 #17

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1   true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Few weeks ago, prices were at 100$ 'ish. Did you start waiting after that? or before?

However, I do feel your pain. But this is a market force that cannot be subdued.

You can try to purchase from americandesi as well who has direct access to exchanges, but I do not think that even he would want to trade in this volatility.

ajax3592
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December 07, 2013, 08:05:59 AM
 #18

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1   true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Few weeks ago, prices were at 100$ 'ish. Did you start waiting after that? or before?

However, I do feel your pain. But this is a market force that cannot be subdued.

You can try to purchase from americandesi as well who has direct access to exchanges, but I do not think that even he would want to trade in this volatility.

I came in to Bitcoin scene on Nov 6 when it was around ~250. Wanted to atleast study the market for a week before getting in with fiat, but it doubled by then.

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bitcoinisfurture
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December 07, 2013, 08:07:28 AM
 #19

Buysellbitco.in many times the stock is out and  when you guys have stock it will resume the business when the prices become stable.

Firstly, few users may like to trade in the volatility, so when having stock why not you buy/sell them.

Secondly, there is no guarantee of prices to be stable as it may reach to $100 or again back to $1000 in few hours. So why not let people who wants to trade can use your services?
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December 07, 2013, 08:08:14 AM
 #20

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1   true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Few weeks ago, prices were at 100$ 'ish. Did you start waiting after that? or before?

However, I do feel your pain. But this is a market force that cannot be subdued.

You can try to purchase from americandesi as well who has direct access to exchanges, but I do not think that even he would want to trade in this volatility.

I came in to Bitcoin scene on Nov 6 when it was around ~250. Wanted to atleast study the market for a week before getting in but it doubled by then.

Uff, thats a bad one mate. Hope that you do get your hands on some Bitcoin.

But TBH, I was the one who pinged buysellbitco.in this morning and asked him to shut shop as this can hurt our community more than an individual trader.

If you are keen on capitalizing on a crash, get yourself registered, etc on the international exchanges where fluid trading and large volume is allowed.

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