why no harder crash ?

[600watt]

we all knew november couldn´t last forever. the epic rise was to be followed by an epic crash. only this correction wasn´t really THAT epic at all (so far?).

if this is all, bitcoin is made of steel.

[lambdaE]

I believe there is no reason for harder crash at all, unless some really negative news come

[pera]

b-but it is crashing

[aminorex]

Most of the bitcoins are held by persons who are not inclined to take profits until the price of bitcoin exceeds its fundamental value,or least comes closer to it.

[aminorex]

b-but it is crashing

Excuse me, but that chart shows an uptrend:  A sequence of higher lows.

[imbladednow]

Most of the bitcoins are held by persons who are not inclined to take profits until the price of bitcoin exceeds its fundamental value,or least comes closer to it.

Very true, selling and hoping price go lower seems risky to me

[Odalv]

I think the crash is hard enough. ("imagine" you have 10k BTC then you did lose  10,000 BTC * $(1200-600)/BTC =  $6M USD )

[nastybit]

bitcoin follows no pattern, clearly!

[pera]

I think the main problem right now is that most people don't know what to believe about the news from China, something similar happened when we went from 1200 to 860 and then back to 1150 because "it's good news morons!"... I'm not saying that the price is being controlled by redditors, just giving it as an example of how difficult is for the market to interpret some news.
At this point there are already enough sources (CCTV, Sina, even Coindesk) "confirming" what could be really bad news from the long-term pov, but I think it could take 48hs more to see some real action in the market. Meanwhile the price is oscillating and some daytraders are still making money

[pera]

b-but it is crashing

Excuse me, but that chart shows an uptrend:  A sequence of higher lows.

really? and what about this one?



a short stabilization means nothing at this point, the downtrend is pretty clear.

[traderCJ]

we all knew november couldn´t last forever. the epic rise was to be followed by an epic crash. only this correction wasn´t really THAT epic at all (so far?).

if this is all, bitcoin is made of steel.

600watt, because the reality of the situation is unclear.  I have a sinking suspicion that more bad news is around the corner from China.

[jamesc760]

It's forcing out short-term traders and weak-hands. It will make BTC stronger. Just hold on to your bitcoins until Jan'2014!

[Xer0]

Bitcoin™

[JimboToronto]

Pretty biased bearish choice of options.

Why didn't you include the obvious?

- This isn't a crash, just an adjustment.

- This dip was based on misinterpreted news and people are smartening up.

- Panickers ran out of coins to dump.

[MatTheCat]

It's forcing out short-term traders and weak-hands. It will make BTC stronger. Just hold on to your bitcoins until Jan'2014!

I heard this kind of 'forcing out weak hands' crap from the silver rampers all the way down from $50 to $18 or whatever it is now.

[aminorex]

b-but it is crashing

Excuse me, but that chart shows an uptrend:  A sequence of higher lows.

really? and what about this one?

a short stabilization means nothing at this point, the downtrend is pretty clear.

That's a failing downtrend, bottoming out.

[pbody]

a short stabilization means nothing at this point, the downtrend is pretty clear.

very true. I dont see how people can trade on m charts. You really have to look at at least a 4hr to get a good idea of whats going on. A day chart is even better since its usually a single news story that moves the market.

What Im still unsure of is why it shot up so quick in the first place. Kinda fishy.

[hoewer4what]

a short stabilization means nothing at this point, the downtrend is pretty clear.

OK, cheap coins then. But situation is unclear, it helps only FUD, but announcement may clear the situation

[aminorex]

There's nothing particularly unclear at this point.  Alipay, tencent and the like can't be used in btcchina deposit/withdrawal transactions (which are the only btc transactions in china which have any impact outside of china).  Only major chinese state-owned banks have the remit to transfer funds to/from btcchina.  BTC is treated like gold and silver, which are approved investment vehicles, and not like a currency, which is illegal to trade.  Lots of forum users report on their btcchina funding and trading experiences, and all of the information is clear and consistent.

[traderCJ]

There's nothing particularly unclear at this point.

At this point.  What's next from the regulators is what I want to know.