Bitcoin Forum
December 10, 2016, 09:18:41 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: How low will it go?  (Read 1284 times)
mute20
Sr. Member
****
Offline Offline

Activity: 265


21


View Profile
August 26, 2011, 06:37:18 PM
 #1

I want to see what the community thinks on how low will the price drop before it regains footing.
1481361521
Hero Member
*
Offline Offline

Posts: 1481361521

View Profile Personal Message (Offline)

Ignore
1481361521
Reply with quote  #2

1481361521
Report to moderator
1481361521
Hero Member
*
Offline Offline

Posts: 1481361521

View Profile Personal Message (Offline)

Ignore
1481361521
Reply with quote  #2

1481361521
Report to moderator
1481361521
Hero Member
*
Offline Offline

Posts: 1481361521

View Profile Personal Message (Offline)

Ignore
1481361521
Reply with quote  #2

1481361521
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Sitarow
Legendary
*
Offline Offline

Activity: 1624



View Profile
August 26, 2011, 06:40:18 PM
 #2

5 to 4.5 Shocked
gw4tt
Full Member
***
Offline Offline

Activity: 126



View Profile
August 26, 2011, 06:48:53 PM
 #3

Somewhere in the $5's I'm guessing.
Piper67
Legendary
*
Offline Offline

Activity: 1008



View Profile
August 26, 2011, 06:54:17 PM
 #4

Depends on how many more coins the dumper is willing to dump. Right now, in the last hour or so, it's been close to 20,000. Now, if I was trying to manipulate the market to get more BTC, I'd probably dump some on Wednesday and Thursday, nothing major, just to get a downward momentum going. When miners and others who own hundreds of coins start selling them into the market out of fear or need, I'd wait till they're likely to have started their withdrawals from the exchanges, say Friday afternoon or so... then dump the whole motherload, drive the price down to almost nothing, and buy back without them being able to jumpstart me.

But then, I don't try to manipulate the market...  Cheesy
dserrano5
Legendary
*
Offline Offline

Activity: 1638



View Profile
August 26, 2011, 08:14:58 PM
 #5

Despite what I said about $8.5 in another thread (which was just a temptation to Murphy—and it worked!), I'm waiting it at the long term bullish trend around $2.5.

proudhon
Legendary
*
Offline Offline

Activity: 1148



View Profile
August 26, 2011, 08:16:34 PM
 #6

$2.76543
oakpacific
Hero Member
*****
Offline Offline

Activity: 798


View Profile
August 26, 2011, 08:18:21 PM
 #7

The lowest point is when so many miners quit that CPU mining becomes profitable again, since it's impossible, it won't fall below that point.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
buttons252
Full Member
***
Offline Offline

Activity: 146


View Profile
August 26, 2011, 09:19:51 PM
 #8

I am a small time miner, but bitcoin would actually have to go under $2.50 per coin for it to actually incur an expense to me.  My KWH is $.072 and i was thinking pretty serious about putting a PC or two in each bedroom and closing off the vents to reduce my dependence on domestic gas  :-)

around $2.50 my computers would only break even where they only cover the cost of the electric they consume.  However they have a favorable by-product of heat for michigan winters.
tvbcof
Legendary
*
Offline Offline

Activity: 1988


View Profile
August 26, 2011, 09:29:09 PM
 #9

$2.76543

Good number.  I put in my giant buy order for a few cents North of that (a few days ago.)  I doubt that it will get that low though.  I'm guessing I will pussy out and buy in well North of that.  We'll see.

Edward50
Hero Member
*****
Offline Offline

Activity: 546



View Profile
August 26, 2011, 09:30:09 PM
 #10

It could really go low this time. It was low before the conference rally. people were making huge bets that the conference would make bitcoin rally with all the media attention. However, I do not think it got much of any media coverage. Some bit market player really stepped in before this rally, pumping the bid side of bitcoin up around 200% or more in a few hours. He did not actually buy bitcoins just put in a bunch of bid orders making it look like the demand side was huge.

Well, conference ended, the rally ended, and the selling began. It wiped out major bid walls of 10,000 or more bitcoins with relative ease. In no time the bid order side went down like 200%, probably the investor who pumped it up 200%, pulled out, leaving a few bid walls in place.

Those got sold into with ease. They always do, as bit investors can cash into those bid walls without dropped the price much.

Prime plummeted to the $7's. Not much support left. It is looking very bad. Market sentiment is really bad, most people think on this thread alone we are heading for the $5's or $6's, and why not, it was there just a few weeks ago.


Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
FlipPro
Legendary
*
Offline Offline

Activity: 1372



View Profile WWW
August 26, 2011, 11:37:08 PM
 #11

Where ever it stops I do know we will only be there for a few short moments, so make sure you guys are paying attention. Last time there was a downturn like this, the bottom low lasted for less than 60 seconds.

Tweet For Coins http://uptweet.com
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!