The Bitcoin Apocalypse 1BTC trading under $5 USD

[BlackLung]

Is this the end?

[Gerken]

God I hope it isn't the end, my tv shows arent back on the air yet. 

[Dargo]

God I hope it isn't the end, my tv shows arent back on the air yet. 

Don't worry, even if it's the end of bitcoin, the bitcoin drama will continue for quite a while yet.

[chungenhung]

probably become stable for a while around $4, there is a pretty sizeable bid wall there.

I agree, it should stop dropping around $4, as that is the cost for most people to produce them.

[fcmatt]

probably become stable for a while around $4, there is a pretty sizeable bid wall there.

I agree, it should stop dropping around $4, as that is the cost for most people to produce them.

I do not think it was lowly miners causing the price to drop. It was people with massive amounts of
money that bought BTC or cheaply bought BTC (early adopters) that decided to just dump it all.

Miners do not all sell 15000K at once.. in a one hour period.

Larger players wanted out.

[Edward50]

Bitcoin was a very slow and gradual fall. Buyers just dried up. They do not think bitcoins are worth that much obviously. I think it is good that bitcoins are cheap, we can finally start to use them instead of hoarding them.

[shelbydz]

Bitcoin was a very slow and gradual fall. Buyers just dried up. They do not think bitcoins are worth that much obviously. I think it is good that bitcoins are cheap, we can finally start to use them instead of hoarding them.

So, assuming the price levels out, this would be the best time to start buying :-)

[The_Duke]

probably become stable for a while around $4, there is a pretty sizeable bid wall there.

Haha, you weren't around when an 25k wall at 6$ got smashed like it was nothing?

[gochk]

probably become stable for a while around $4, there is a pretty sizeable bid wall there.

I agree, it should stop dropping around $4, as that is the cost for most people to produce them.

I do not think it was lowly miners causing the price to drop. It was people with massive amounts of
money that bought BTC or cheaply bought BTC (early adopters) that decided to just dump it all.

Miners do not all sell 15000K at once.. in a one hour period.

Larger players wanted out.

One has to wonder why the early adopters and larger players are cashing out? Why are they wanting out? Do they know something the rest of us don't?

[dree12]

probably become stable for a while around $4, there is a pretty sizeable bid wall there.

I agree, it should stop dropping around $4, as that is the cost for most people to produce them.

I do not think it was lowly miners causing the price to drop. It was people with massive amounts of
money that bought BTC or cheaply bought BTC (early adopters) that decided to just dump it all.

Miners do not all sell 15000K at once.. in a one hour period.

Larger players wanted out.

One has to wonder why the early adopters and larger players are cashing out? Why are they wanting out? Do they know something the rest of us don't?

They don't want to take any more risk. Since BTC has an low chance of going back up, they think that this "gambling" should come to an end.

[TiagoTiago]

It will bounce back up, you'll see.

[Nagle]

One has to wonder why the early adopters and larger players are cashing out? Why are they wanting out? Do they know something the rest of us don't?

The real question is why would anyone with a lot of bitcoins still be in.

[Cosbycoin]

It will bounce back up, you'll see.

It already did that. Now it will bounce back down, you'll see. Then back up....

[Nagle]

*wonders if this was the same kind of discussions had when the first stock/commodities markets emerged?....*

No. Stock markets emerged because there was a need to get enough capital together to  build or do something bigger than one person could afford, like a ship or a railroad. Commodity markets emerged so that farmers who wanted to know the price of their crops before planting them could buy options to protect themselves against price drops, and, on the other side. 

[Cluster2k]

One has to wonder why the early adopters and larger players are cashing out? Why are they wanting out? Do they know something the rest of us don't?

The real question is why would anyone with a lot of bitcoins still be in.

People with lots of bitcoins would still be in if they expect the future price to be higher than today.  Watch for mass panic selling if those with substantial bitcoin holdings independently decide 'this is as good as it gets' and decide to bail out while their bit fortunes are still worth something. 

No matter how libertarian one's views are (and how much they detest fiat currencies), I suspect they would sell up now if they thought bitcoins would continue their slide towards parity with the US dollar.  They can always buy more later on and enjoy even more freedom.

[Nagle]

If $5 USD is the  Bitcoin Apocalypse, we're very close. $5.17 and dropping.

[Nagle]

We're there. $4.82 now.

[FreeMoney]

15 months ago I sure wasn't worried about bitcoin crashing back to $5, pretty strange year.

[conspirosphere.tk]

I'm riding the bitcopalypse all the way down to zero with my investments in HW and BTC near the top. Winning or nuthin.



BTW: What comes after "resignation" in the bubble cycle?

[adamstgBit]

I'm riding the bitcopalypse all the way down to zero with my investments in HW and BTC near the top. Winning or nuthin.

BTW: What comes after "resignation" in the bubble cycle?

same here i'm going down with the ship... i could sell now and make a profit since i bought at 0.75$ but... theirs no honer in that .... i believe in bitcoin and so i must go down with the ship.