Massive Sell Off- Crash or Correction?

[ajax3592]

Mark my words, this is a crash and worst than that which happened in April.

[Bean9]

i dont think its just a correction this time. i think this bull run is over. what do you all think?  

The bull run is definitely over for now. In some ways, that is good since BTC needs stable growth and patient investors if it hopes to reach its full potential.

The guys who were investing in BTC as a "get rich quick" scheme deserve to get burned.

I think Bitcoin will now get the stable mode, just like the situation after the crash in Apr 2013.
Though the price will no longer go 10x in a month, it is indeed good for bitcoin development.

[Marbit]

lots of blood in the streets. wonder if 576 (gox) was bottom. i think probably not!

[Cointeller]

Correction

[Marbit]

Correction

crossed 50% from the top on the way to 576..... not so sure about that one!

[vendetahome]

Mark my words, this is a crash and worst than that which happened in April.

It would need to go under 300, I doubt it happen

[Easnet]

Mark my words, this is a crash and worst than that which happened in April.

lots of blood in the streets. wonder if 576 (gox) was bottom. i think probably not!

We will see how it go very soon.
By the way, it seems the price is starting to bounce back.

[BTCuserz]

Bottom has been reached at $600 !! Get ur wallets out now and start making ur purchases while BTC still under $700 !! 
http://s22.postimg.org/wz0apqx81/image.jpg

[Thomass]

I see this as a buying opportunity for new-comer like me.
The original price (over 1000) is a bit too high for me to get in.

[jaggard]

I think it was a speculative sell-off myself, related to the Chinese commentaries. And I do think that it was, at the same time, a manipulative effort on some people's parts. The way I see it is that there's actually quite a large interest in BTC and other cryptocurrencies in China, which their government doesn't like, just like the FTC doesn't particularly like it here in the US because they don't like that they're not in control of it the way they are the banks themselves. I think it's just another reaction like the Great Firewall of China, myself, when it comes down to it.

Edit: it did however really make it almost impossible to deal with the alt exchanges today, like Cryptsy, and made it darned near impossible to do anything on there with the flood of activity. I still have transactions still coming in from deposits sent like 12+ hours ago now, and there are still several that haven't shown up even on the pending list yet.

[Xenoph0bia]

Bottom has been reached at $600 !! Get ur wallets out now and start making ur purchases while BTC still under $700 !! 

Your right the price is manipulated by big player, great opportunity to buy now and show nice profit next week

[scarsbergholden]

i think we're at the top of another bull trap right now (well, not quite since we're at 660 from over 700)..... but i think we have ome more tumbling down to do!!

[Bitcoin Machine]

Bitcoin is not going anywhere!

Slowly but quickly, there is a world wide infrastructure currently being built to utilize this type of currency. This is only the beginning.

Online stores everywhere are starting to say "We now accept Bitcoin!"

Forexample:
http://www.egifter.com/bitcoin/?gclid=CKicxJfhnbsCFcxufgodmT0AlA
https://bitdazzle.com/bitcoin-deals
https://www.bitcoinshop.us/
http://www.gyft.com/bitcoin/
Plus many more:
http://techcrunch.com/2013/11/28/over-400-retailers-are-offering-deals-on-new-bitcoin-black-friday-website/

This is just the beginning.

Bitcoin is backed by a huge global community. It's like a world wide virtual corporation built around free open source software. It's backed my millions of people and computers around the world without control from any massive government entity. It's an amazing accomplishment to say the least.

No one can't stop something with this much momentum.

And we are only getting started.

[scarsbergholden]

sure, i think bitcoin is going places. but price movement is driving price right now.

[Bitcoin Machine]

i think we're at the top of another bull trap right now (well, not quite since we're at 660 from over 700)..... but i think we have ome more tumbling down to do!!

So many people wish this was true.

But now is the time to buy.

Even if it goes down to 500 it still will bounce back to ridiculous highs.

[Adada]

Bottom has been reached at $600 !! Get ur wallets out now and start making ur purchases while BTC still under $700 !! 

Your right the price is manipulated by big player, great opportunity to buy now and show nice profit next week

Look at the charts, panic inducing rolling dumps at regular intervals but they're getting less effective each time and the last on China was higher than the previous one which strongly suggests this is bottom. Btw, BTCChina has the highest price atm yet according to the press this "crash" is being driven by China, go figure.

Chinese people are directly affected by the news, but no panic sell. (BTCChina price is at least 10% higher to Bitstamp price)
Those panic are just ridiculous.

[Bitcoin Machine]

sure, i think bitcoin is going places. but price movement is driving price right now.

Correct.

But new highs will bring new people. And new people will create new bubbles. And this will happen all over again. And again. Until people slowly stop trading it for other currencies. Then it will smooth out.

But because the nature of Bitcoin is deflationary, it creates a lot of excitement in investment which will drive demand. And the demand will drive the price which will continue to increase long term.

[|Fr0sty|]

Really don't think we're headed for a major crash. People will buy up the cheap coin and it will stabilize soon.

Bitcoin is practically in the mainstream media daily, it has as much attention and integration as it's ever had.

[crazywack]

I was reading about the dip yesterday and today and in way am I convinced this is a crash... its due to the speculation in the market. I bought more!!!

[Samli]

I bought more!!!

I am still waiting for the stupid verification process