If you're not out, get out.

[Gerken]

The amount of BTC being offered for sale at 5.25 is just staggering. It truly dwarfs the amount of
money wanting into BTC. Just two weeks ago people would have loved to buy at that price but now
no one wants to touch them.

How can the price possibly recover when people do not want to buy, and even if they do buy,
the amount of cash to bring the price back up to 7 is ridiculous.

Why buy at $7 if you can buy at $5.25?
Why buy at $5.24 if you can buy at $4?
Why buy at $4 if you can buy at $3?
.
.
.
People are going to keep pressing their luck until someone decides it's time to buy big, and the procrastinators lose out big time.


The big dogs could bring the price up to $10 right now if they wanted to, which means double the value than $5.25 for them. Saw someone with a 17,000 btc bid at 5.25 earlier.

See, but no one wants in at $10. No one who's not in bitcoins now wants in at all.

There is no "big dog" to save you guys.

But...but...the fundamentals are sound!

[1713483280]

1713483280

[1713483280]

1713483280

[1713483280]

1713483280

[1713483280]

1713483280

[gw4tt]

There is no "big dog" to save you guys.

Not even the manipulator can save you now.

[hightax]

Not even the manipulator can save you now.

What do you mean?  There's another fake bid wall at $4 now.

[buttcoin]

Oh wait, I found the big dogs

[gw4tt]

Not even the manipulator can save you now.

What do you mean?  There's another fake bid wall at $4 now.

If that was the manipulator the bid wall would be bigger.

[MelMan2002]

This resembles something...hmm...

[ElectricMucus]

I LOVE
DRAMA

[Jixtreme]

This resembles something...hmm...

I LOL'd.

[hightax]

What do you mean?  There's another fake bid wall at $4 now.

ya that is where prices will likely become stable... for a while... it's a big bid wall, but there really isn't much above it.

Actually, taking into account that bitcoincharts isn't showing ANY activity <$4 I have a suspicion that it's not a wall at all, but rather the sum total of all holder who simply don't believe it will drop below $4.

*edit* wait, wait, no.  It's a wall:
$4.00    BTC:3461 (3)    $73616    

Two of those orders are 20BTC and 10BTC accordingly, leaving one giant wall of ~$73k.  So unless somebody's foolish enough to actually want to spend $73k I'd bet that wall will disappear just like all the other ones did.

[ElectricMucus]

How can bit walls be fake?

They must have the funds to place them and if they are got hit the transaction is done.

[Minsc]

Actually, taking into account that bitcoincharts isn't showing ANY activity <$4 I have a suspicion that it's not a wall at all, but rather the sum total of all holder who simply don't believe it will drop below $4.

Let's crash that bidwall!  Come out person with 22000 coins.  Send them to me and I will crash it then buy it back lower and give you the difference (plus I'll buy back some lower too with my own funds!)

[arsenische]

How can bit walls be fake?

They must have the funds to place them and if they are got hit the transaction is done.

Trading bots remove them as price moves closer so that they are not executed.

[chungenhung]

remember - get out now!   sell low and buy high.

Seems right the right decision. We need to lose money in order to make money!!!

SOme people gotta lose $ in order for others to win $.

[hightax]

How can bit walls be fake?

They must have the funds to place them and if they are got hit the transaction is done.

Well I must be psychic because *POOF* the $4 wall has vanished.

Yes, the person putting up the wall (mtgox) has to hold enough to cover it, but since it's fake, and there's no intent to follow through, the wall disappears (gets cancelled) before any trades get close to filling the order.

https://i.imgur.com/dHqUa.png

[Jixtreme]

I get the disticnt feeling that we are merely in the eye of the storm...

[smoothie]

I get the disticnt feeling that we are merely in the eye of the storm...

We are... there is more downside to come...

[CoinMan]

I can not believe you people are still making decisions based on the order book...

+1 (so many losers, so few winners)

[fcmatt]

I can not believe you people are still making decisions based on the order book...

Ok. You are right. The order book is basically nonsense because you do not have to pay to put
up or take down an order.

But what else can you make judgments by? That bitcoin seems to be a ponzi scheme right now
and anyone with an ounce of common sense would sell? Well that seems like good advice/trade.

When would you buy back in? When type of trade are you trying to make? Get in and out making
a few cents per BTC?

[pekv2]

NO

excellent point, well rounded with facts and citations that clearly demonstrate a full and complete understandi

Excellent point, I responded to the OP's "If you're not out, get out.", No, I'm gonna keep mining.

NO

i can see how someone got up to their 464 post sr. member status.  

o.o, What does your reply have anything to do with the OP's thread?  I can see how someone got up to their 207 posts full member status.

[Gerken]

I get the disticnt feeling that we are merely in the eye of the storm...

Indeed, people are losing interest.  There are no billionaire investors waiting to cash in, just people desperate to get rich like the early adopters did.  Somebody's gotta lose money.