BTC drop to next level coming...bail the F out now!

[DustyRah]

Price gone down yesterday,...

Relax,... Don't Panic,... just wait another 65 years, it will pickup again, and probably be higher in price...

lol! Yeah, booster depleted...

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[mikerbiker6]

I heard some people want to connect bitcoin to ISIS to make the price drop.(maybe that caused the spike today)
It is all over reddit at the moment.
http://www.reddit.com/r/Bitcoin/

[DustyRah]

They will still need a way t

I heard some people want to connect bitcoin to ISIS to make the price drop.(maybe that caused the spike today)
It is all over reddit at the moment.
http://www.reddit.com/r/Bitcoin/

That's not good news to be connected to such organizations. But practically speaking eventually they will have to convert into FIAT and they will run into issues doing that. Its a bit worrysome though given that people could donate to such nutcases anonymously.

[aminorex]

I dropped to the next level, just like the poster said.  It dropped -100%, i.e. up.

Frankly BTCUSD makes a lot more sense to me when I invert the chart and consider it as a bear market in USD.  Bull markets climb a wall of worry while bear markets drop like knives.  It really only makes sense upside down.

[Chef Ramsay]

This must be one of those LOL threads. OP should be cited for inciting a riot.

[NapoleonBonaparte]

Short term trader, both long and short, will get burn badly trading bitcoin.

[DustyRah]

Its back under...No idea how many weeks before it pulls itself out of this one.

[FUR11]

So this is finally the drop that's been incoming since April 27? Wow you sure got a nice crystal ball, being able to forcast this drop that well!

[bigasic]

While I hate to see big drops like this, I don't plan on selling my coin until i retire. So, I have years to go before I start thinking about selling. I stopped panic selling awhile ago, which is pretty good advice. Just hold and dont look at the daily drops (or gains). The only time I will consider selling now is if I ran into a financial situation where it made sense..

Even if it drops all the way down to 200, it will eventually recover.. (and a great time to buy)

[Heider]

Well,...

That's exactly what I was expecting when I mentioned earlier about what's going to happen after the auction ends. If you think about it; the amount that was auctioned was quite large which (based on the supply-and-demand theory); "should" cause a drop in price. I was expecting this to last for about a month or three by most, and was preparing for it.

Being honest about it, sadly, after the auction ended, I noticed the price climbing up, and got tempted; I don't know what was wrong in my head when I decided to spend few coins on buying at $645, I saw the price drop coming at the time, and then queued my sell to go at $655, but sadly it went up to $653 therefore, never sold, and then afterwards BTC kept going down ever since, that's when I said earlier "wait another 65 years, it will go up etc...."

Truth is I don't feel sorry for that little loss (with price drop today it's about $200 now), I expect further drop, but frankly don't care, I'm not selling, therefore it's not a loss (yet). if it takes 3 months for it to recover and by on the up again, then great, if it's a year or so then still won't make me jump out of my seat neither, I am way too busy at the moment with other things to do, and I think this (stop dealing with BTC for now) came in  time to help me focus on my work.

My advice, is, for whatever it's worth; if you are in the same situation, please don't panic, the more people joining in later, the higher it gets. Right now, I still think (theoretically) that the auction coins are being sold as we speak hence causing this drop, no facts there, just what I think, which is why I am waiting with absolutely no care or even interest in doing a move right now.

I believe more people are watching this forum, since my last 65 years post, BTC on the sites (Bitstamp, Bitfinex, Btc-e) has dropped volumes of about 80%. For instance, the one-hour volume trading on Bitstamp used to be about $900, over the past week it hardly gone over $99 per hour.

Lots of people seems to be losing interest on the way BTC is changing recently, hence that drop in price until someone starts to take a drastic action about it.

I hope this helps,

Wish you Good luck,
Heider

[DustyRah]

While I hate to see big drops like this, I don't plan on selling my coin until i retire. So, I have years to go before I start thinking about selling. I stopped panic selling awhile ago, which is pretty good advice. Just hold and dont look at the daily drops (or gains). The only time I will consider selling now is if I ran into a financial situation where it made sense..

Even if it drops all the way down to 200, it will eventually recover.. (and a great time to buy)

The price is what you agree to sell it for. As long as you wait and have a target, you will eventually get your target since BTC continues to be bullish over the long term in spite of recent stagnation.

[altsay]

I believe more people are watching this forum, since my last 65 years post, BTC on the sites (Bitstamp, Bitfinex, Btc-e) has dropped volumes of about 80%. For instance, the one-hour volume trading on Bitstamp used to be about $900, over the past week it hardly gone over $99 per hour.

Summer is all over the northern hemisphere.

[DustyRah]

Bitlicense issue has pushed the bottom heavy BTC on its ass...worst bottom spike in 6 months but not as bad as the February one.

[beetcoin]

seems to me that the issue is bitcoin's market cap isn't big enough to absorb the hits. it's still too volatile, at least to me.

[DustyRah]

seems to me that the issue is bitcoin's market cap isn't big enough to absorb the hits. it's still too volatile, at least to me.

It definitely is but was way more volatile before and it has gotten a lot better recently. I hope as the market cap increases, the volatility decreases with increased volume.

[Heider]

Judging by the numbers I am seeing, I'd say; people are starting to loose interest. 

I'm leaving my BTCs hanging there for a year before I start thinking about their value unless I see it going above $650 anytime soon.

Good luck to all.

Regards
Heider

[micky123]

Judging by the numbers I am seeing, I'd say; people are starting to loose interest. 

I'm leaving my BTCs hanging there for a year before I start thinking about their value unless I see it going above $650 anytime soon.

Good luck to all.

Regards
Heider

We are not even the tip of the iceberg. Too much investment has gone into BTC for it to come crashing down and to stay down. I am sure that people are keeping a keen eye on this development and will buy more at this price range. I also doubt that people are losing interest, in fact i see just the opposite happening. The pro's of BTC far out-number the con's as far as i am concerned. This may be a conspiracy by major banks to discredit BTC and show it as a very volatile product which will de-stabilize the market. People need to look at the many positives that BTC has to offer instead of looking at the negatives. I am holding 1 BTC even if it goes to the ground!

[Heider]

I am holding 1 BTC even if it goes to the ground!

Ditto to that, I've got a lot more BTCs stuck upstairs, also holding to the mud.... The main thing is that it's money I can afford to lose, therefore, I am not doing a thing about it now until ... well,... you know...

[micky123]

I am holding 1 BTC even if it goes to the ground!

Ditto to that, I've got a lot more BTCs stuck upstairs, also holding to the mud.... The main thing is that it's money I can afford to lose, therefore, I am not doing a thing about it now until ... well,... you know...

Ha ha ha, this is a similar case to mine. This is money that i can afford to lose. I feel sorry for those poor sods who went all in, selling their meager possessions and buying BTC in the hope they would be a millionaire some day. The sad part is, they would not have the stomach to take such volatility and end up selling at a loss to get whatever they can out when the boat gets rocked slightly (More like a storm right now!). I have always advised people never to put in money that they cannot afford to lose. Unfortunately, greed over-powers all!

[mikerbiker6]

I now have roughly 10% of my capital in bitcoin. This is also money i can afford to loose, so holding too.
The nice thing is, if you hold long enough you may not need to change back to fiat and you can spend it directly.
(if the merchants don't sell those coins immediately you have sort of sold your bitcoin without pushing down the price).