ARGHHHHH!!!! Bitcoin going through floor

[T.Stuart]

MatTheCat you remind me of this guy

[e521]

we have already bounced back haven't we?
there will to be blood this weekend

[Ibian]

im a bear!

[traderCJ]

MatTheCat you remind me of this guy

[Miz4r]

So where did you sell at? We're almost at $810 again @ Bitstamp.

[MatTheCat]

So where did you sell at? We're almost at $810 again @ Bitstamp.

Not short sold yet, don't think I will either...I see another day or two of trending and possibly upwards trending after the bounce back from plummet to the support at 765.

....but holy Kahru, there is a long way down from here! There will be shorting opportunities yet.

[Miz4r]

So where did you sell at? We're almost at $810 again @ Bitstamp.

Not short sold yet, don't think I will either...I see another day or two of trending and possibly upwards trending after the bounce back from plummet to the support at 765.

....but holy Kahru, there is a long way down from here! There will be shorting opportunities yet.

So when you started this thread you were completely panicking and wanted to short the crap out of bitcoin, and now suddenly you feel perfectly fine holding on to your coins? You must be moving in and out of coins like 30 times a day with these bipolar mood swings lol.

[MatTheCat]

So when you started this thread you were completely panicking and wanted to short the crap out of bitcoin, and now suddenly you feel perfectly fine holding on to your coins? You must be moving in and out of coins like 30 times a day with these bipolar mood swings lol.

I don't have any coins.

All USD just now and yep, I totally missed out on the rather obvious bounce from 765 cos I was in freak out mode about having a big load of coins in blockchain transit at that point in time.

Whenever I get wound up or emotionally involved with Bitcoin, I generally don't play my cards very well.

[Edward50]

I am thinking about shorting also. It is the better gamble right now in my opinion. I already sold all my bitcoins at around $820 to $840 last week, but why wait for the price to fall back to sustainable levels when you can make money along the way.


The rally stalled like expected and did not rally that much higher like also expected. It will not rally as high anymore because people are not stupid to keep buying into these rallies. People realize that the price will not rally that high anymore, so why keep buying into them if the price just keeps making new lows.

[MatTheCat]

The rally stalled like expected and did not rally that much higher like also expected. It will not rally as high anymore because people are not stupid to keep buying into these rallies. People realize that the price will not rally that high anymore, so why keep buying into them if the price just keeps making new lows.

I am convinced that much of the 'trade' is from bots looking to lure capital in with 'bait'.

Before the whole idea of shorting on Bitfinex registered with me (wish it had sooner, I would have made a packet by now), I liked to try and play the small bounces. What I find however, is that whilst I would be allowed to buy in when a significant Bid wall was hit, trying to sell at the Ask wall was a different matter. The very moment that I would instigate a sell order, within a split second a specific amount of coin would be sold for 1 penny cheaper. I try to play the same trick, but as soon as I refresh, once again I am being underbid by one penny. As the past few days progressed, it was getting tighter and tighter to actually sell at a highish point on the bounce. On my last small bounce trade, the only way that I could sell my coins (about 20) was to sell well below the spot price in order to get rid of them (i.e. at a price which the bots' algorithms won't instantly undercut). After exchange fees, I came away with $20 profit, and that was on a $15K trade with on the face of it, perfect timing on a $30 bounce.......except the bots would not let me sell at their artificially created 'high'.

I am sure a few genuine human traders managed to scrape a penny or two together on the high volume 765-810 bounce, but now that things are tightening to another turgid bog down, I aint even going to attempt to day trade here. Only the bots are allowed to scrape the margins that are seemingly for the taking, and I can't compete with bots.

[Edward50]

MattheCat,

Did you ever get your short in? I told you to short the next rally and it is guaranteed to fall. Hope you shorted and that recent rally didn't scare you off.

It will be a slow grind lower because you have too many pin heads thinking we are going to 10K in a few months. They will realize just how little demand is for bitcoins at prices above $500.

[MatTheCat]

MattheCat,

Did you ever get your short in? I told you to short the next rally and it is guaranteed to fall. Hope you shorted and that recent rally didn't scare you off.

It will be a slow grind lower because you have too many pin heads thinking we are going to 10K in a few months. They will realize just how little demand is for bitcoins at prices above $500.

Many times.....

Have a  leveraged 30 BTC short just now and sitting back watching Huobi go manic depressive with a big cheesey grin on my face.

Doubt the whales and their bots will be able to contain a big apeshit down move in China. They are crashing through vital supports in as violent waterfall moves as I have seen in some time.

This could be a big drop.

[Edward50]

Make sure you hold in there and don't panic cover.

Bitcoin has been nothing but weak the last few weeks, I have kept my money out of the market and knew that we will eventually go lower. Even though I wondered about it going higher with the rallies I just do not see the demand there for expensive bitcoins.

Hold in there, but you were better to have shorted at the last rally when it went high $800's, rather then shorting when it is finally falling. You still have too many people thinking you can make a quick buck and they keep buying. That should not last long and they will all get burnt.

[Jeezy911]

Hmm, so bitcoin is slow, too bad there is not a better way.  Im switching to Scharmbeck, because speed matters.

[JimboToronto]

Going through floor?

Which floor? Penthouse floor?

I see the same range as the last few weeks.

Seems more like deluded bear wishful thinking. Sorry kids, it's not all a Pollyanna sunshine-and-lollipops less-than-$300-per-bitcoin dream world. Reality has its own center of gravity.

[MatTheCat]

Going through floor?

Which floor? Penthouse floor?

I see the same range as the last few weeks.

Seems more like deluded bear wishful thinking. Sorry kids, it's not all a Pollyanna sunshine-and-lollipops less-than-$300-per-bitcoin dream world. Reality has its own center of gravity.

Go and look at Huobi chart.

It is looking bad. Really bad (or good if you are short like I am).

[Jeezy911]

Going through floor?

Which floor? Penthouse floor?

I see the same range as the last few weeks.

Seems more like deluded bear wishful thinking. Sorry kids, it's not all a Pollyanna sunshine-and-lollipops less-than-$300-per-bitcoin dream world. Reality has its own center of gravity.

Go and look at Huobi chart.

It is looking bad. Really bad (or good if you are short like I am).

Bitcoin is dangerous, hot altcoins is where the money is at. EAC, Lotto, Moon, Cat, Doge, Federal all smoking. Just gotta be in the right coins at the right time.

[chessnut]

Going through floor?

Which floor? Penthouse floor?

I see the same range as the last few weeks.

Seems more like deluded bear wishful thinking. Sorry kids, it's not all a Pollyanna sunshine-and-lollipops less-than-$300-per-bitcoin dream world. Reality has its own center of gravity.

Go and look at Huobi chart.

It is looking bad. Really bad (or good if you are short like I am).

well done Matt you may have been right about the short. it looks bearish.
but dont you wish you had waited a few more days without all the stress? picking tops is a futile game eh?

[MatTheCat]

Bitcoin is dangerous, hot altcoins is where the money is at. EAC, Lotto, Moon, Cat, Doge, Federal all smoking. Just gotta be in the right coins at the right time.

All other coins are at this point in time bullshit.

I don't care if some people are able to make massive profits speculating with them. Some people also got rich investing in Bernie Madoff.

[Jeezy911]

Bitcoin is dangerous, hot altcoins is where the money is at. EAC, Lotto, Moon, Cat, Doge, Federal all smoking. Just gotta be in the right coins at the right time.

All other coins are at this point in time bullshit.

I don't care if some people are able to make massive profits speculating with them. Some people also got rich investing in Bernie Madoff.

But don't you see a pattern emerging? The market is shifting to coins that are real players, it may not last but it feels like something is going to breakout huge, and its not Bitcoin.