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Author Topic: Sub $530?  (Read 1402 times)
bitcoinsrus
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March 27, 2014, 01:39:29 PM
 #1

Why is the price now lower than 530?  Is this a flash crash, due to china enforcing bans on btc (just read a few articles on this section)?
Whats up brah?!
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btbrae
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March 27, 2014, 01:45:45 PM
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That looks like a big player beginning to dump his coins... perhaps the Mtgox "hacker".
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March 27, 2014, 01:46:06 PM
 #3

panic sell..
http://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban/

It will go up again.

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john_doe
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March 27, 2014, 01:58:07 PM
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That's old news.

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K128kevin
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March 27, 2014, 01:59:42 PM
 #5

It probably will go up again soon. This seems like it is definitely a result of the China news though.

http://www.bloomberg.com/news/2014-03-27/pboc-orders-banks-to-shut-bitcoin-exchange-accounts-caixin-says.html

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March 27, 2014, 02:02:00 PM
 #6


Ah oops copy pasted wrong url..

new one is
http://www.coindesk.com/bitcoin-price-drops-new-chinese-bank-rumours/

edit: Oh john doe.. Shocked

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Wandererfromthenorth
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March 27, 2014, 02:07:36 PM
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Well, we are in a prolonged downtrend regardless of news. so dumps are predictable.
News that play on fear just makes the process faster.

Also, don't forget that the "ban" who started the december crash begun with a lot of "rumors" and "FUD" and a lot of people dismissed them yelling "HODL" and shit.

Bottom will be around $400 or even lower.
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March 27, 2014, 02:13:38 PM
 #8

Well, we are in a prolonged downtrend regardless of news. so dumps are predictable.
News that play on fear just makes the process faster.

Also, don't forget that the "ban" who started the december crash begun with a lot of "rumors" and "FUD" and a lot of people dismissed them yelling "HODL" and shit.

Bottom will be around $400 or even lower.



I really hope this downtrend doesn't last too long.....there's stuff I want to buy.

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dannyspk
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March 27, 2014, 02:16:58 PM
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Well, we are in a prolonged downtrend regardless of news. so dumps are predictable.
News that play on fear just makes the process faster.

Also, don't forget that the "ban" who started the december crash begun with a lot of "rumors" and "FUD" and a lot of people dismissed them yelling "HODL" and shit.

Bottom will be around $400 or even lower.



I really hope this downtrend doesn't last too long.....there's stuff I want to buy.

Placing your bets too high.
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March 27, 2014, 02:19:21 PM
 #10

Well, we are in a prolonged downtrend regardless of news. so dumps are predictable.
News that play on fear just makes the process faster.

Also, don't forget that the "ban" who started the december crash begun with a lot of "rumors" and "FUD" and a lot of people dismissed them yelling "HODL" and shit.

Bottom will be around $400 or even lower.


Actually almost all of the downward movement since the peak around late november/early december has been a result of news. When there is no bad news the price almost always tends to go upward. I would say that we are in a prolonged upward trend that is being frequently disrupted by harmful news like the China ban.

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March 27, 2014, 02:37:50 PM
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That is OLD news Bro.. March 21?Huh??  That was like YEARS ago..  Today is March 27 BTW

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March 27, 2014, 02:42:31 PM
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That is OLD news Bro.. March 21?Huh??  That was like YEARS ago..  Today is March 27 BTW



You should read the rest of the posts BRO, not just 1st post.
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March 27, 2014, 02:46:31 PM
 #13

Well, we are in a prolonged downtrend regardless of news. so dumps are predictable.
News that play on fear just makes the process faster.

Also, don't forget that the "ban" who started the december crash begun with a lot of "rumors" and "FUD" and a lot of people dismissed them yelling "HODL" and shit.

Bottom will be around $400 or even lower.


Yes, I notice the same trend.

In December when the china ban came out everyone was screaming hold, and it is fake news, just like you said.
Then bitcoin dropped like 50%.

The smart people are getting out as high as they can.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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March 27, 2014, 02:56:05 PM
 #14


The smart people are getting out as high as they can.


Smart people get in and hodl.

It's just a correction. Look at price movements in the past. Volatility is constantly decreasing. Movements of 10-20% are nothing.

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March 27, 2014, 03:03:05 PM
 #15


The smart people are getting out as high as they can.


Smart people get in and hodl.

It's just a correction. Look at price movements in the past. Volatility is constantly decreasing. Movements of 10-20% are nothing.

Yup. It's called a correction for a reason. It's a necessary step on the way to rehab after the bubble, Gox and FUD. No point fighting it.
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March 27, 2014, 03:31:45 PM
 #16

Price drop means a bunch of hands sold. Does not necessarily correlate to news headlines. How does your logic look a few hours ago in the $580 range?

My logic? Sorry, not sure I understand the question. My point was that bitcoin has been seriously overvalued and now people are playing catch up. And I think that 500 is a key confidence level to establish or otherwise.
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March 27, 2014, 03:35:08 PM
 #17

Well, we are in a prolonged downtrend regardless of news. so dumps are predictable.
News that play on fear just makes the process faster.

Also, don't forget that the "ban" who started the december crash begun with a lot of "rumors" and "FUD" and a lot of people dismissed them yelling "HODL" and shit.

Bottom will be around $400 or even lower.



I really hope this downtrend doesn't last too long.....there's stuff I want to buy.

Placing your bets too high.

I assume you mean this:

Yeah, my average buy-in was about $650.00...

Blackcoin ~ 10 second transactions (fastest coin) ~ 100% proof of stake (the first) ~ No wasteful mining (most efficient)
chesthing
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March 27, 2014, 03:59:57 PM
 #18


The smart people are getting out as high as they can.


Smart people get in and hodl.

It's just a correction. Look at price movements in the past. Volatility is constantly decreasing. Movements of 10-20% are nothing.
Yes, but we are in a downward trend from the ath in December lasting months. It just keeps going lower and lower and lower and
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March 27, 2014, 04:08:40 PM
 #19


The smart people are getting out as high as they can.


Smart people get in and hodl.

It's just a correction. Look at price movements in the past. Volatility is constantly decreasing. Movements of 10-20% are nothing.
Yes, but we are in a downward trend from the ath in December lasting months. It just keeps going lower and lower and lower and


Positive or negative trends are all relative.  Take a look at this:
http://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-08-30zeg2013-10-05ztgSzm1g10zm2g25zv

That sure looks like a slight negative trend to me, with a very negative crash toward the end.  Although anyone that sold everything in October because of this had no idea what was coming, and are probably crying right now...
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