Bitcoin Forum
February 25, 2021, 05:54:15 AM *
News: Latest Bitcoin Core release: 0.21.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: 1 2 3 4 [All]
  Print  
Author Topic: Why is bitcoin plummeting?  (Read 8380 times)
brokenchair
Member
**
Offline Offline

Activity: 109
Merit: 10


View Profile
January 24, 2014, 05:29:15 AM
 #1

Bitcoin has not increased in value in 2-3 weeks and is now plummeting.  I'm not really understanding why since more vendors are accepting bitcoin, it's getting more renown, etc. 
A few weeks ago some real estate company accepted bitcoin and the value increased dramatically; tiger direct accepts bitcoin and the value decreases.  I'm obviously missing a core concept here so wtf is the deal? 
1614232455
Hero Member
*
Offline Offline

Posts: 1614232455

View Profile Personal Message (Offline)

Ignore
1614232455
Reply with quote  #2

1614232455
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1614232455
Hero Member
*
Offline Offline

Posts: 1614232455

View Profile Personal Message (Offline)

Ignore
1614232455
Reply with quote  #2

1614232455
Report to moderator
1614232455
Hero Member
*
Offline Offline

Posts: 1614232455

View Profile Personal Message (Offline)

Ignore
1614232455
Reply with quote  #2

1614232455
Report to moderator
BitcoinBarrel
Legendary
*
Offline Offline

Activity: 1554
Merit: 1002


Faucet.BET for FREE BTC


View Profile WWW
January 24, 2014, 05:31:49 AM
 #2

I guess just not enough people are buying it  Huh

descarte
Full Member
***
Offline Offline

Activity: 195
Merit: 100


View Profile
January 24, 2014, 05:34:01 AM
 #3

interesting that the value drops after tiger accepts btc. perhaps people are waiting for ebay or amazon to come in before investing in it again.
pungopete468
Hero Member
*****
Offline Offline

Activity: 1260
Merit: 504



View Profile
January 24, 2014, 05:49:39 AM
 #4

It could also be that TigerDirect does a larger volume of sales than Overstock (the price fell with Overstock too) They sell instantly so everything bought with BTC might as well be a "sell" order on the exchange.

It's natural for this to bring the price down. The price will go up as confidence increases and as more investment and regular people come in.

Also, this is the last week of Jan, this was to be expected regardless because of the Jan 31 deadline in China.

The health of Bitcoin is increasing extremely fast. I'm buying now while the price is going down because in Feb it is likely to skyrocket.

▄▄█████████▄▄
▄█████████████████▄
▄████▀▀▀▀█████▀▀▀▀████▄
████▀██████▀█▀██████▀████
██████████████████████████
▐█████▄███████████████▄█████▌
▐███████▄▄█████████▄▄███████▌
▐██████▀█████████████▀██████▌
▐███████████████████████████▌
▀██████████████████████▀
▀████▄████▄▀▀▄████▄████▀
▀███████▀███▀███████▀
▀▀█████████████▀▀
  ▀▀▀▀▀▀▀▀▀
|
★.★.★   8 GAMES   ★   WAGERING CONTEST   ★   JACKPOTS   ★   FAUCET   ★.★.★
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▄█▀█▀█▄

 ▀███▀
  ▄▄▄
▄██▀▄█▄
██▀▄███
 ▀▄▄▄▀
  ▄▄▄
▄█ ▄▀█▄
██ █ ██
 ▀▄▄█▀
  ▄▄▄
▄▀▄▄▄▀▄
█▀▀▀▀▄█
 ▀███▀
  ▄▄▄
▄▀   ▀▄
█  █▄ █
 ▀▄██▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▀ █ ▀
▀▀▄▀▀
 ▀▄█▄
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
|
BTCisthefuture
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


View Profile
January 24, 2014, 05:58:12 AM
 #5

It's bitcoin being bitcoin.... no real point in watching hourly or daily or heck even weekly price swings and trying to grasp "why" its happening.


If I had to attach a reason though I would say

1) Larger retailers accepting bitcoin lowers the price because new money isnt coming in (people are spending old coins not new coins usually) and coins are being dropped back on the market as these retailers exchange them back to fiat.

2) People in China possibly taking out some profits to cover travel expenses and red envelope gifts the upcoming Chinese new year.


Or it could just be normal bitcoin volatility with no real reason behind it.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
jdbtracker
Hero Member
*****
Offline Offline

Activity: 727
Merit: 500


Minimum Effort/Maximum effect


View Profile
January 24, 2014, 05:58:20 AM
 #6

Falling man?... in what world have you been? If the confidence is there, people are spending it... they have to withdraw their investment; It's easier to exchange it to buy at a store other than TigerDirect, sell orders too. It's back at 900... people want to spend.

I figure, they know they can buy more and whenever they get in, their money will always grow,

If you think my efforts are worth something; I'll keep on keeping on.
I don't believe in IQ, only in Determination.
KJO
Full Member
***
Offline Offline

Activity: 173
Merit: 100


View Profile
January 24, 2014, 05:59:46 AM
 #7

You know a tsunami is coming when the tide rolls backward away from the beach.


kolev
Member
**
Offline Offline

Activity: 94
Merit: 10

My name is Nikolay and am a webaholic.


View Profile WWW
January 24, 2014, 06:00:44 AM
 #8

It could also be that TigerDirect does a larger volume of sales than Overstock (the price fell with Overstock too) They sell instantly so everything bought with BTC might as well be a "sell" order on the exchange.

No, the drop started in China and continues there. TigerDirect uses BitPay, which cannot use a Chinese exchange as BitPay needs dollars, not yuans.

Bitrated user: nikolay.
RickJamesBTC
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
January 24, 2014, 06:02:24 AM
 #9

It's all about transactions. More people using bitcoin every day. Don't worry about a 10% slow decline, it won't go down too far.

https://blockchain.info/charts/n-transactions?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

jdbtracker
Hero Member
*****
Offline Offline

Activity: 727
Merit: 500


Minimum Effort/Maximum effect


View Profile
January 24, 2014, 06:06:28 AM
 #10

agreed!, tsunami, we are just rolling in the tide right now.

And there are a lot of ways to analyze the market for Bitcoins, thousands of retailers accept it, it's the online currency, how many people trust it? how much? how often are people talking about it? What are the demographics? What do people want with it? Bitcoin really needs a PR firm to make it grow, but you take all those things and you come with the numbers to figure out how often people are exchanging it and what triggers them to exchange.

If you think my efforts are worth something; I'll keep on keeping on.
I don't believe in IQ, only in Determination.
Serge
Legendary
*
Offline Offline

Activity: 1050
Merit: 1000


View Profile
January 24, 2014, 06:12:27 AM
 #11

don't worry, in bitcoin world what comes down eventually goes back up

on a serious note, all speculation now is focused and follows china's markets uncertainty until january 31
thms
Sr. Member
****
Offline Offline

Activity: 427
Merit: 250


View Profile
January 24, 2014, 06:13:52 AM
 #12

One simple reason for that

1 BTC = 1,000USD no way!

That's why 1,000 is a huge resistance to break, BTC tried many times and failed to break that.

The only solution to this is to shift the decimal point 3 places.

Now: 100US$ = 0.125 BTC
Shifting decimal point: 100US$ = 125BTC

I'm pretty sure if the decimal point was moved 3 places, there would be hundreds of people buying 100 bucks of BTC just for fun.









Jeezy911
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250


View Profile
January 24, 2014, 06:15:00 AM
 #13

Is it true US dumping silk road coins tomorrow? If it is that's why.

RickJamesBTC
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
January 24, 2014, 06:16:47 AM
 #14

It's a market, it has trends. It can be predicted and traded.

http://xchang.in/xcharts/blog/


Lots of good info, he's right more often than not.
zoinky
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1000


Web Developer


View Profile
January 24, 2014, 06:27:51 AM
 #15

Zoom out..
TERA
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500



View Profile
January 24, 2014, 06:30:46 AM
 #16

Bitcoin has not increased in value in 2-3 weeks and is now plummeting.  I'm not really understanding why since more vendors are accepting bitcoin, it's getting more renown, etc. 
A few weeks ago some real estate company accepted bitcoin and the value increased dramatically; tiger direct accepts bitcoin and the value decreases.  I'm obviously missing a core concept here so wtf is the deal? 
Bitcoin is not a stock. It does not follow news. It follows supply and demand. If the flow of coins out is greater than the flow of fiat in, then it drops. Right now a dominant market participant is exiting the market, there is low volume, we are way above the exponential trendline, just rallied 800% 3 months ago, and haven't had a good capitulation in a while. All of these adoptions are not going to stop this type of momentum.
MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 06:51:58 AM
 #17

Bitcoin has not increased in value in 2-3 weeks and is now plummeting.  I'm not really understanding why since more vendors are accepting bitcoin, it's getting more renown, etc. 
A few weeks ago some real estate company accepted bitcoin and the value increased dramatically; tiger direct accepts bitcoin and the value decreases.  I'm obviously missing a core concept here so wtf is the deal? 
Bitcoin is not a stock. It does not follow news. It follows supply and demand. If the flow of coins out is greater than the flow of fiat in, then it drops. Right now a dominant market participant is exiting the market, there is low volume, we are way above the exponential trendline, just rallied 800% 3 months ago, and haven't had a good capitulation in a while. All of these adoptions are not going to stop this type of momentum.

Where do you see the next bounce coming TERA?

I am placing my bets on the $700 - $720 range, but am ever mindful of the potential for a proper capitulation event as the China exit nears.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
Falcooon
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile
January 24, 2014, 07:03:46 AM
 #18

I thought we were all in agreement that china was already priced in. ...
Richard Branson
Hero Member
*****
Offline Offline

Activity: 513
Merit: 505

Screw It, Let's Do It


View Profile WWW
January 24, 2014, 07:06:18 AM
 #19

I thought we were all in agreement that china was already priced in. ...

?

All? Probably all dellusional bulls. Everybody who bought above 1000$, thank you for holding the bag.
TERA
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500



View Profile
January 24, 2014, 07:19:46 AM
 #20

Bitcoin has not increased in value in 2-3 weeks and is now plummeting.  I'm not really understanding why since more vendors are accepting bitcoin, it's getting more renown, etc. 
A few weeks ago some real estate company accepted bitcoin and the value increased dramatically; tiger direct accepts bitcoin and the value decreases.  I'm obviously missing a core concept here so wtf is the deal? 
Bitcoin is not a stock. It does not follow news. It follows supply and demand. If the flow of coins out is greater than the flow of fiat in, then it drops. Right now a dominant market participant is exiting the market, there is low volume, we are way above the exponential trendline, just rallied 800% 3 months ago, and haven't had a good capitulation in a while. All of these adoptions are not going to stop this type of momentum.

Where do you see the next bounce coming TERA?

I am placing my bets on the $700 - $720 range, but am ever mindful of the potential for a proper capitulation event as the China exit nears.
I don't know. This has become too difficult to predict. I'm trading based on dynamic TA indicators and not based on set targets.
Elwar
Legendary
*
Offline Offline

Activity: 3346
Merit: 1946


Viva Ut Vivas


View Profile WWW
January 24, 2014, 07:30:56 AM
 #21

It could also be that TigerDirect does a larger volume of sales than Overstock (the price fell with Overstock too) They sell instantly so everything bought with BTC might as well be a "sell" order on the exchange.

This seems like what is happening. The price has been fairly steady as bulls are holding out on big buys because of the pending Fed bitcoin sale and the bears are not selling all with the large amount of retailers coming online and Bitcoin adoption.

So a steady slow decline is likely a lot of people with bitcoins buying electronics.

Overstock.com was great (and also sent the price down the first day) but TigerDirect is much more relevant to Bitcoin users. I would not be surprised to see at least $2-300k in bitcoin sales the first day. That is all bitcoins being converted to dollars to pay TigerDirect.

It is good for Bitcoin in the long run. It fulfills part of the chicken and egg scenario that we were always worried about in the early days. It gives more reason for people to adopt using bitcoins day by day. But in its hybrid state of converting bitcoins to dollars it will drive the price down.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
goxed
Legendary
*
Offline Offline

Activity: 1946
Merit: 1000


Mining hardware dev and reviewer.


View Profile
January 24, 2014, 07:42:34 AM
 #22

People moving in to Dogecoin?
http://www.smh.com.au/technology/technology-news/the-rise-and-rise-of-dogecoin-the-internets-hottest-cryptocurrency-20140124-31d24.html

Looking to review Bitcoin / Crypto mining Hardware.
kisa2005
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile
January 24, 2014, 07:53:22 AM
Last edit: January 24, 2014, 08:35:01 AM by kisa2005
 #23

this is to summarize the most important factors:

-> China profit taking before the Chinese New Year
-> Overstock+Tiger autosell BTC they received from sales
-> Rumored sale of $25m FBI coins - certain traders reducing exposure in the hope to buy cheaper some later

Also some mixed noises coming out of DAVOS, and seemingly not yet enough new entrants globally to counteract temp increased supply.
Still, I d expect that more smart money is looking for dips to buy cheaper coins, so think BTC could dip below 700 but not for long... Wink

Agree that some BTC and LTC diversified into pumping cheaper Altcoins / projects this week (DOGE, CAT, NXT, LOT, MOON etc.), but here market cap is not enough to move BTC substantially... With regards to things being "priced in" is a tough call in such an inefficient market yet...
Lloydie
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
January 24, 2014, 07:59:19 AM
 #24

Would this affect Btc prices in fiat terms?
RickJamesBTC
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
January 24, 2014, 08:01:02 AM
 #25

Bitcoin will be back up to the 840s very soon. No worries! Time to buy more!
TERA
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500



View Profile
January 24, 2014, 08:02:42 AM
 #26

That would be funny if this just ended with another 2 weeks at $820.
RickJamesBTC
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
January 24, 2014, 08:04:02 AM
 #27

That would be funny if this just ended with another 2 weeks at $820.

Its really boring. I gave up on day trading because I don't like waiting. I'll be buying back in soon, if not now though... Seems like a good point to bottom out.
Salivan
Full Member
***
Offline Offline

Activity: 195
Merit: 102

DiMS dev team


View Profile
January 24, 2014, 08:08:20 AM
 #28

some profit taking right now, when it ends price will recover above 1000$
goxed
Legendary
*
Offline Offline

Activity: 1946
Merit: 1000


Mining hardware dev and reviewer.


View Profile
January 24, 2014, 08:08:41 AM
 #29


Someone bought $5million of DOGEs. No idea if that person sold some BTC / LTC first.
This week, transactions worth a total of $US14 million were made, including one Chinese investor who bought $US5 million worth of the virtual currency.
Read more: http://www.smh.com.au/technology/technology-news/the-rise-and-rise-of-dogecoin-the-internets-hottest-cryptocurrency-20140124-31d24.html#ixzz2rIk7O6Ti

Looking to review Bitcoin / Crypto mining Hardware.
Nova!
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
January 24, 2014, 08:17:01 AM
 #30


It would raise the price of BTC or LTC because right now there is no exchange which works with both USD & DOGE.  You need to buy another coin first.

Donate @ 1LE4D5ERPZ4tumNoYe5GMeB5p9CZ1xKb4V
Nova!
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
January 24, 2014, 08:23:02 AM
 #31

Bitcoin will be back up to the 840s very soon. No worries! Time to buy more!

My prediction is that it will drop to between $300 - $700 and trade in that range for a couple of months with an average of $600.
After that it will jump to $10,000 in the space of a few days.  Jump around between $1k & $10k before settling out at around $5k for a couple months.
Mark my words it will hit $10k (won't stay there but it will hit it) before 2014 is out, might even do it before valentines day.

I'm basing this prediction on a repeated mechanical curve that has been present in the bitcoin market since the first time it reached dollar parity.
If you look at a complete historical chart of the coin you will see a curve (algo trader most likely), that starts as soon as the price hits an even multiple of 10.  It happened at $1, it happened at $10, it happened at $100 and it started happenining again at $1,000.  Someone's got themselves a profit bot Smiley

Donate @ 1LE4D5ERPZ4tumNoYe5GMeB5p9CZ1xKb4V
LOADING.READY.RUN
Full Member
***
Offline Offline

Activity: 133
Merit: 100



View Profile
January 24, 2014, 08:30:21 AM
 #32

Why would it not go down? We've had two weeks of undecidedness... The market didn't have strength to go up, it didn't have much strength to go down. Finally there is some movement.

We're only 1.5 months after the large correction of December (deliberately avoiding the word crash). Look at April 2013, look at 2011. It took us 3-6 months to reach a bottom and stabilize. Not saying it has to be the same this time, but always good to keep in mind that it's a distinct possibility.

In the October-December bull run the price of BTC had a ten-fold increase because people began to see its potential. However, it's quite normal in this kind of situation to run ahead of the adoption, ahead of the fundamentals, which without any doubt has been developing extremely well during the last few months.

But for now, it's just market dynamics.
kisa2005
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile
January 24, 2014, 08:31:40 AM
 #33

Bitcoin will be back up to the 840s very soon. No worries! Time to buy more!

My prediction is that it will drop to between $300 - $700 and trade in that range for a couple of months with an average of $600.
After that it will jump to $10,000 in the space of a few days.  Jump around between $1k & $10k before settling out at around $5k for a couple months.
Mark my words it will hit $10k (won't stay there but it will hit it) before 2014 is out, might even do it before valentines day.

I'm basing this prediction on a repeated mechanical curve that has been present in the bitcoin market since the first time it reached dollar parity.
If you look at a complete historical chart of the coin you will see a curve (algo trader most likely), that starts as soon as the price hits an even multiple of 10.  It happened at $1, it happened at $10, it happened at $100 and it started happenining again at $1,000.  Someone's got themselves a profit bot Smiley

following China selloff in DEC we had BTC dropping to below 400 for a moment... Now has been trading in 750-950 range for a while, i'd be happy to bet BTC is not touching below 650 ever again...
smoothie
Legendary
*
Offline Offline

Activity: 2226
Merit: 1137


KIZEKRA COMICS & LEALANA Silver Monero


View Profile
January 24, 2014, 08:33:32 AM
 #34

There are much more market forces going on in Bitcoin than what you described. This is why the price has been going down.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
Tzupy
Legendary
*
Offline Offline

Activity: 1932
Merit: 1066



View Profile
January 24, 2014, 08:59:48 AM
 #35

Plummeting? Not yet, give it time, and then talk about plummeting.

Sometimes, if it looks too bullish, it's actually bearish
wobber
Legendary
*
Offline Offline

Activity: 1064
Merit: 1001


View Profile
January 24, 2014, 11:25:02 AM
 #36

Right now market is walking cautiously on ice. What until first crack shows up, we'll see then a big explosion, running, fear.

If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
doctor877
Full Member
***
Offline Offline

Activity: 714
Merit: 115



View Profile WWW
January 24, 2014, 11:42:23 AM
 #37

The guys who got insider info of china sold? This happened at the last crash aswell, just speculating tough.

█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀                                         Y I E L D                                         ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█
EASIEST WAY TO EARN INTEREST IN CRYPTO

▄▄▄       ▄▄▄▄▄▄▄▄▄▄▄                Twitter          Telegram          Token                ▄▄▄▄▄▄▄▄▄▄▄       ▄▄▄
MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 11:43:17 AM
 #38

Right now market is walking cautiously on ice. What until first crack shows up, we'll see then a big explosion, running, fear.

The Ask wall is already piling up around $790 and Huobi isn't looking too clever either.

My very brief time as a bull has come to an end.....I have dissolved my long position at small loss (tiny really) and am now moving back to short position.

If this goes again, it is going right $720 next time.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
Tzupy
Legendary
*
Offline Offline

Activity: 1932
Merit: 1066



View Profile
January 24, 2014, 11:47:42 AM
 #39

MatTheCat, I advise caution, your position could be overrun.
But if you'll keep a close eye on the market and move fast, you'll be able to avoid this.

Sometimes, if it looks too bullish, it's actually bearish
fonzie
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Moderator


View Profile
January 24, 2014, 11:50:22 AM
 #40

The guys who got insider info of china and/or MtGox sold? This happened at the last crash aswell, just speculating tough.

Quite possible

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 11:51:57 AM
 #41

MatTheCat, I advise caution, your position could be overrun.
But if you'll keep a close eye on the market and move fast, you'll be able to avoid this.

I have shorted about 20 BTC at $785.

I can place a stop loss at $785 and have over 300 Asks in front of me and the spot price.......and Huobi is slipping all the time.

So far, the trade is a no brainer and a no loser.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
LOADING.READY.RUN
Full Member
***
Offline Offline

Activity: 133
Merit: 100



View Profile
January 24, 2014, 11:54:15 AM
 #42

The guys who got insider info of china sold? This happened at the last crash aswell, just speculating tough.

You don't need insider info, you just need enough people seeing the market move down and thinking someone has insider info. They react accordingly and push the market further down.
fonzie
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Moderator


View Profile
January 24, 2014, 11:58:42 AM
 #43

MatTheCat, I advise caution, your position could be overrun.
But if you'll keep a close eye on the market and move fast, you'll be able to avoid this.

I have shorted about 20 BTC at $785.

I can place a stop loss at $785 and have over 300 Asks in front of me and the spot price.......and Huobi is slipping all the time.

So far, the trade is a no brainer and a no loser.

300 BTC ask on Stamp moved down to 779.  Cheesy

Let´s have a shotr Party.  Grin Grin Grin Grin

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 12:13:06 PM
Last edit: January 24, 2014, 12:41:46 PM by MatTheCat
 #44

MatTheCat, I advise caution, your position could be overrun.
But if you'll keep a close eye on the market and move fast, you'll be able to avoid this.

I have shorted about 20 BTC at $785.

I can place a stop loss at $785 and have over 300 Asks in front of me and the spot price.......and Huobi is slipping all the time.

So far, the trade is a no brainer and a no loser.

300 BTC ask on Stamp moved down to 779.  Cheesy

Let´s have a shotr Party.  Grin Grin Grin Grin

300 Ask wall at 775 and counting.

This sucker is going back down.

EDIT: and then within one second 234 of the 775 Buy wall is bought up. There are forces at work here who are seeking to maintain a high Bitcoin price......I wonder if it is wise to bet against them?

EDIT: Another couple of massive purchases made at stacked up Ask wall. Someone with real clout is doing thier utmost to keep the price held up. Such volume is not happening on any other exchange. I conclude that if there are whales powerful enough to blow almost $500K on dismantling a bearish Ask wall, then Bitcoin is going to stay up for now.....Will take another China sell off to defeat the sharks on Bitstamp. The same entity probably has the Bid wall stacked as well. Just shows ya how entities with clout can drive a market like it was their bitch.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
doctor877
Full Member
***
Offline Offline

Activity: 714
Merit: 115



View Profile WWW
January 24, 2014, 12:37:53 PM
 #45

The guys who got insider info of china and/or MtGox sold? This happened at the last crash aswell, just speculating tough.

Quite possible

And if this is the case, we'll probably see serious action tomorrow (china).

█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀                                         Y I E L D                                         ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█
EASIEST WAY TO EARN INTEREST IN CRYPTO

▄▄▄       ▄▄▄▄▄▄▄▄▄▄▄                Twitter          Telegram          Token                ▄▄▄▄▄▄▄▄▄▄▄       ▄▄▄
MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 12:45:35 PM
 #46

And if this is the case, we'll probably see serious action tomorrow (china).

It will take China to take Bitcoin down and I sincerely hope they do just to fuck over whoever it is who is manipulating Stamp.....even if I don't profit from it, I hope this happens.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
paulifa123
Member
**
Offline Offline

Activity: 65
Merit: 10


View Profile
January 24, 2014, 01:43:22 PM
 #47

Matthecat, I've never seen anyone switch between bull/bear as fast and frequently as you do, it's most entertaining following your posts, you're just so emotional about it all...  Cheesy

MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 02:02:27 PM
 #48

Matthecat, I've never seen anyone switch between bull/bear as fast and frequently as you do, it's most entertaining following your posts, you're just so emotional about it all...  Cheesy

Once upon a time, back in the day, I had a starry eyed personal appraisal of Bitcoin pretty much like many people here still do, but these days, I see it as nothing less than the crypto spawn of Satan.

I don't give a fuck about Bitcoin.

I only care about winning and I will jump sides whenever I feel I need to in order to be on the winning side.


Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
keithers
Legendary
*
Offline Offline

Activity: 1400
Merit: 1001


This is the land of wolves now & you're not a wolf


View Profile
January 24, 2014, 03:14:30 PM
 #49

It's variance. Going down a few percent isn't really plummeting...
DPoS
Sr. Member
****
Offline Offline

Activity: 462
Merit: 250



View Profile
January 24, 2014, 04:21:25 PM
 #50

There are forces at work here who are seeking to maintain a high Bitcoin price......I wonder if it is wise to bet against them?

Coinbase is doing 'God's Work'

you don't need an account there to watch their frantic spread
https://coinbase.com/charts


remember coinbase will make a ton more on processing fees and have stated they just trade to break even basically..  with their spreads and fees compared to what they pay trading on bitstamp they have a stacked deck

they only lose if copy cats spring up and crowd out their margin


~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
brokenchair
Member
**
Offline Offline

Activity: 109
Merit: 10


View Profile
January 24, 2014, 04:22:02 PM
 #51

Thanks for the replies and link.  I guess I have a slightly better understanding of what is going on now.  
MatTheCat
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
January 24, 2014, 04:41:15 PM
 #52

remember coinbase will make a ton more on processing fees and have stated they just trade to break even basically..  with their spreads and fees compared to what they pay trading on bitstamp they have a stacked deck

they only lose if copy cats spring up and crowd out their margin

I have no clear idea what coinbase is or how they operate.

When I think of reasons that might make spending/wasting a couple of million dollars to hold up the market price of a vapour-asset, I think of stuff like protecting the nominal value of 144K worth of DPR coins..

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
shmadz
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000


@theshmadz


View Profile
January 24, 2014, 04:42:44 PM
 #53

MatTheCat, I advise caution, your position could be overrun.
But if you'll keep a close eye on the market and move fast, you'll be able to avoid this.

I have shorted about 20 BTC at $785.

I can place a stop loss at $785 and have over 300 Asks in front of me and the spot price.......and Huobi is slipping all the time.

So far, the trade is a no brainer and a no loser.

300 BTC ask on Stamp moved down to 779.  Cheesy

Let´s have a shotr Party.  Grin Grin Grin Grin

300 Ask wall at 775 and counting.

This sucker is going back down.

EDIT: and then within one second 234 of the 775 Buy wall is bought up. There are forces at work here who are seeking to maintain a high Bitcoin price......I wonder if it is wise to bet against them?

EDIT: Another couple of massive purchases made at stacked up Ask wall. Someone with real clout is doing thier utmost to keep the price held up. Such volume is not happening on any other exchange. I conclude that if there are whales powerful enough to blow almost $500K on dismantling a bearish Ask wall, then Bitcoin is going to stay up for now.....Will take another China sell off to defeat the sharks on Bitstamp. The same entity probably has the Bid wall stacked as well. Just shows ya how entities with clout can drive a market like it was their bitch.




Whaletank don't care.

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
pietje
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
January 24, 2014, 04:48:23 PM
 #54

plummeting?
We go down from 820 to 780 and we are plummeting?

If you look at the 4h chart you barely see a dip.
proudhon
Legendary
*
Offline Offline

Activity: 1582
Merit: 1086



View Profile
January 24, 2014, 04:53:46 PM
 #55

plummeting?
We go down from 820 to 780 and we are plummeting?

If you look at the 4h chart you barely see a dip.

The 4h chart is not the confirmed way to look at bitcoin price history as it prevents you from fully appreciating the dramatic failures of the market.

bitcoin price cannot be sustained above $10k <---- scientific fact
muyuu
Donator
Legendary
*
Offline Offline

Activity: 980
Merit: 1000



View Profile
January 24, 2014, 04:54:31 PM
 #56

LOL plummeting...

You haven't been around for long have you.

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
Bobsurplus
Legendary
*
Offline Offline

Activity: 1008
Merit: 1000


Making money since I was in the womb! @emc2whale


View Profile
January 24, 2014, 04:54:38 PM
 #57

plummeting?
We go down from 820 to 780 and we are plummeting?

If you look at the 4h chart you barely see a dip.

The 4h chart is not the confirmed way to look at bitcoin price history as it prevents you from fully appreciating the dramatic failures of the market.


The Daily is the main chart to watch. WITHOUT A DOUBT!
DPoS
Sr. Member
****
Offline Offline

Activity: 462
Merit: 250



View Profile
January 24, 2014, 04:55:19 PM
 #58

remember coinbase will make a ton more on processing fees and have stated they just trade to break even basically..  with their spreads and fees compared to what they pay trading on bitstamp they have a stacked deck

they only lose if copy cats spring up and crowd out their margin

I have no clear idea what coinbase is or how they operate.

When I think of reasons that might make spending/wasting a couple of million dollars to hold up the market price of a vapour-asset, I think of stuff like protecting the nominal value of 144K worth of DPR coins..

you only see it as waste as potential gains..  they are making their gains outside of the exchanges

~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
podyx
Legendary
*
Offline Offline

Activity: 2142
Merit: 1029



View Profile
January 24, 2014, 04:56:30 PM
 #59

matthecat is bear again??

time to buy  Grin
newtothescene
Full Member
***
Offline Offline

Activity: 147
Merit: 100


View Profile
January 24, 2014, 04:56:58 PM
 #60

How about the fact that Google confirmed they are not working on incorporating Bitcoin as a payment method?  Of course if it is anything like Google confirming they are not interesting in buying Waze, things could turn around in a few weeks...  Smiley
pietje
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
January 24, 2014, 04:59:25 PM
 #61

plummeting?
We go down from 820 to 780 and we are plummeting?

If you look at the 4h chart you barely see a dip.

The 4h chart is not the confirmed way to look at bitcoin price history as it prevents you from fully appreciating the dramatic failures of the market.

Ok i just started looking at the 1 minute chart...
Oh noes we are already from 780 to 790 so a full scale rally Roll Eyes
fluidjax
Hero Member
*****
Offline Offline

Activity: 749
Merit: 562



View Profile
January 24, 2014, 05:09:50 PM
 #62

plummeting?
We go down from 820 to 780 and we are plummeting?

If you look at the 4h chart you barely see a dip.

The 4h chart is not the confirmed way to look at bitcoin price history as it prevents you from fully appreciating the dramatic failures of the market.

Lol
BitcoinAshley
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
January 24, 2014, 05:10:43 PM
Last edit: January 24, 2014, 06:46:40 PM by BitcoinAshley
 #63

Why is bitcoin plummeting?

Tons of people moving into DOGE.

In fact, the DOGE bubble popped halfway but just re-inflated itself (probably Goat.)

I mean, just look at this shit:


Obviously if you are still in bitcoin, you are in the wrong market. In BTC you've lost 10%, in DOGE, you've doubled your portfolio.

EDIT: It could have a LITTLE to do with the half a mil in overstock sales and the two fitty + in tigerdirect sales. Whales know to spend their BTC there b/c big figures encourage more big retailers to consider it, thus further driving adoption. And one of the biggest barriers to "going to all the trouble to buy BTC" is "where in the **** do I spend it."
segeln
Hero Member
*****
Offline Offline

Activity: 602
Merit: 500


View Profile
January 24, 2014, 07:16:38 PM
 #64

plummeting?
We go down from 820 to 780 and we are plummeting?

If you look at the 4h chart you barely see a dip.

The 4h chart is not the confirmed way to look at bitcoin price history as it prevents you from fully appreciating the dramatic failures of the market.
Since I got eventually your attitude of commenting I like it more and more

Now you are pushed off the ignore list
adamstgBit
Legendary
*
Offline Offline

Activity: 1904
Merit: 1019


Trusted Bitcoiner


View Profile WWW
January 24, 2014, 07:34:49 PM
 #65

Why is bitcoin plummeting?

Tons of people moving into DOGE.

In fact, the DOGE bubble popped halfway but just re-inflated itself (probably Goat.)

I mean, just look at this shit:


Obviously if you are still in bitcoin, you are in the wrong market. In BTC you've lost 10%, in DOGE, you've doubled your portfolio.

EDIT: It could have a LITTLE to do with the half a mil in overstock sales and the two fitty + in tigerdirect sales. Whales know to spend their BTC there b/c big figures encourage more big retailers to consider it, thus further driving adoption. And one of the biggest barriers to "going to all the trouble to buy BTC" is "where in the **** do I spend it."


doggy coins is in the "return to normal" phase of the bubble

ArticMine
Legendary
*
Offline Offline

Activity: 2268
Merit: 1045


Monero Core Team


View Profile
January 24, 2014, 11:49:28 PM
 #66


... you don't need an account there to watch their frantic spread
https://coinbase.com/charts  ...


0.5% spread. Wow!

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
louisreel
Newbie
*
Offline Offline

Activity: 9
Merit: 0


View Profile
January 28, 2014, 05:28:26 AM
 #67

How about the fact that Google confirmed they are not working on incorporating Bitcoin as a payment method?  Of course if it is anything like Google confirming they are not interesting in buying Waze, things could turn around in a few weeks...  Smiley

Because Google is balls-deep in Ripple..

Do your research bro..

Google Ventures put in a few 100k back in April '13.  For Google that's not even the tip.

jamesc760
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
January 28, 2014, 04:55:59 PM
 #68

I was at a party in San Francisco last Christmas. It was a catered affair. A few VC's were there. The booze bill alone was over $100K.
Nagle
Legendary
*
Offline Offline

Activity: 1204
Merit: 1000


View Profile WWW
January 28, 2014, 09:55:23 PM
 #69

Bitcoin went up last fall because, for a few months, it was an easy and legal way around China's exchange controls. Then the People's Bank of China cracked down on Bitcoin operators. Bitcoin then started to slide down.
redwraith
Full Member
***
Offline Offline

Activity: 188
Merit: 102



View Profile
January 29, 2014, 05:33:47 AM
 #70

Bitcoin went up last fall because, for a few months, it was an easy and legal way around China's exchange controls. Then the People's Bank of China cracked down on Bitcoin operators. Bitcoin then started to slide down.

Yeah and that explains April of 2013 and summer of 2011 too doesn't it?  STFU.  Anyways, the OP's question is stupid because that's what an asset does when it is publicly traded!   It rises and falls depending on supply and demand. 
keithers
Legendary
*
Offline Offline

Activity: 1400
Merit: 1001


This is the land of wolves now & you're not a wolf


View Profile
January 30, 2014, 12:19:29 AM
 #71

This is the longest period of stability we have seen in awhile I think. 
theta
Full Member
***
Offline Offline

Activity: 164
Merit: 100


View Profile
February 25, 2014, 08:01:42 PM
 #72

This is the longest period of stability we have seen in awhile I think. 
famous last words  Smiley
hungpham
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
February 26, 2014, 02:30:08 AM
 #73

because it's market. up and down, down and up
That's all
crackfoo
Legendary
*
Offline Offline

Activity: 2506
Merit: 1122



View Profile WWW
October 03, 2014, 03:57:34 PM
 #74

why is it still going down???


Sevvero
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250


View Profile
October 03, 2014, 04:00:48 PM
 #75

why is it still going down???


People waking up to the scam and selling their bags of shit.
Pages: 1 2 3 4 [All]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!