Bitcoin down to $569??

[Nobitcoin]

Wow I think it has dropped around $100 in the past days could this be a good / bad opportunity to buy?

[Hawker]

It depends on the mtgox liquidator.  If he is selling 200000 Bitcoin to pay off creditors, then the price will fall a lot further. 

[raskul]

It's not just gox coins... with massive farms continually loading volume to exchanges, we won't see another up till block halving. doom gloom doom gloom. 

[Nobitcoin]

You recommend to buy now or wait?

[raskul]

what I do and what i recommend are often two different things 

[Remember remember the 5th of November]

You recommend to buy now or wait?

I think wait is the most sensible choice. I bought at 670 and regret it a lot.

[Rigon]

I think the 200k bitcoins is not yet sold. The market is just anticipating they would be selling the bitcoins.

[Evilish]

I hope it rises again in the next few days. Already lost too much money with BTC/LTC and other coins.

[raskul]

hope is a fake concept, I see the current trend continuing at least through the summer. remember bitcoin is a long haul, it was designed to be like that so don't expect to be able to command your income with it's volatility. if you can't stand the heat....

 

[MrCrabs]

If you believe its going to be worth more in the future you should Buy NOW.
Otherwise wait until it goes up in price.
 

[raskul]

If you believe its going to be worth more in the future you should Buy NOW.
Otherwise wait until it goes up in price.
 

it is a remarkable thing, folks tend to make their buy orders after a drop, in my opinion, you should always buy; on the way down.
commodities aren't really designed for lunch-box joes. if you are trading stocks, you should always think that it's a long term investment, and DON'T SPEND ANY MORE THAN YOU CAN AFFORD TO LOSE.

[FanEagle]

As I wrote somewhere else, I see an incoming freefall for Bitcoin, maybe to go low as 200/300 dollars.
Then, after a month, it will go back to 600.

[romerun]

Sellers have to be done selling before the next rally, by the end of May if price cycle history repeats

[raskul]

Sellers have to be done selling before the next rally, by the end of May if price cycle history repeats

christmas.

[anu]

It depends on the mtgox liquidator.  If he is selling 200000 Bitcoin to pay off creditors, then the price will fall a lot further. 

Did MtGox have creditors that are senior to depositors?

[raskul]

I think the 200k bitcoins is not yet sold. The market is just anticipating they would be selling the bitcoins.

markets are reactive, not proactive. you clearly have no idea.

[IamComrade]

I Bought fractions on the way down will sell on the next upswing.

Cosmofly predicted this way in advance and I thank him for it otherwise I would've bought at $700 like most people here were saying buy

[segeln]

It depends on the mtgox liquidator.  If he is selling 200000 Bitcoin to pay off creditors, then the price will fall a lot further. 

the Liquidator can not sell right now since the suit is in evolving.Also there is a Bankruptcy protection for the customers .After the jurisdiction is made the process of distribuiting the funds is possible

[syber]

It will be the 4th time it will hit $400 imo.
Then its on its way up once mtgox is forgotten.

[UnDerDoG81]

Why should gox sell those 200k coins and pay their customers with money? Instead of giving them their coins back?