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P4man
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January 17, 2012, 09:58:54 PM
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proudhon
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January 17, 2012, 10:01:59 PM
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Meh, I'm using it as another opportunity to increase my BTC position.  I sold everything recently and intend to buy back in hopefully in the $4 range, but I've got bids even lower than that.  Already there are enough asks below where I sold to increase my position by a good bit.
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January 17, 2012, 10:03:33 PM
 #3

To me the one and only major reason this dip is happening is Bitcoinica and the problems it's having. Especially with the other developments recently, I see no other possible reason for this.

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StewartJ
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January 17, 2012, 10:04:06 PM
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I love cheap bitcoins. Thank you for selling!
proudhon
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January 17, 2012, 10:04:27 PM
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To me the one and only major reason this dip is happening is Bitcoinica and the problems it's having. Especially with the other developments recently, I see no other possible reason for this.

I'm done with bitcoinica.  Back to good old fashioned MtGox trading for me.
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January 17, 2012, 10:07:41 PM
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To me the one and only major reason this dip is happening is Bitcoinica and the problems it's having. Especially with the other developments recently, I see no other possible reason for this.

I'm done with bitcoinica.  Back to good old fashioned MtGox trading for me.
glad i never used it would suck if i couldn't buy right now^^



Meh, I'm using it as another opportunity to increase my BTC position.  I sold everything recently and intend to buy back in hopefully in the $4 range, but I've got bids even lower than that.  Already there are enough asks below where I sold to increase my position by a good bit.

 u know, that if your telling when you'll buy, i will buy cents higher...

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Serge
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January 17, 2012, 10:07:49 PM
 #7

this could also be a trap setup to get lots of coins below 7-7.2 with quick sweep later on.  we have seen who ever put the asks wall had huge bids wall before too
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January 17, 2012, 10:11:05 PM
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that shit is going down, son

protect the money!!
jojo69
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January 17, 2012, 10:12:40 PM
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yep, I caught a couple little swings, but there is just too much explosive downside potential here

setting up short

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January 17, 2012, 10:15:41 PM
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To me the one and only major reason this dip is happening is Bitcoinica and the problems it's having. Especially with the other developments recently, I see no other possible reason for this.

You mean reasons other than a gazillion signs of being in an echo bubble?

Exponential trend-line, lots of price hype, excessive trading on margin, and any news were tied to speculation, not commerce or reasoning as to why the price would rally. They ran out of leverage for the long positions all the time, what the hell? And then everybody was talking about a TV show that perfectly justifies the new prices... oh, and of course an immediate impending rally to 8. And then 9. And single-digit prices suck anyway!

Remember we're still above a 200% rise from the low about two months ago!

People are overdoing it! The later they come to their senses, the harder the landing is. "Rise to the moon right now!" is not a good plan, and if it fails now that's still better than repeating the madness of last year and paying with another exodus in a multi-month bust. If it's not too late to prevent that already.
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January 17, 2012, 10:16:37 PM
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byronbb
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January 17, 2012, 10:17:45 PM
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In all seriousness though 6.2 is an interesting level.

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this statement is false


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January 17, 2012, 10:22:47 PM
 #13

To me the one and only major reason this dip is happening is Bitcoinica and the problems it's having. Especially with the other developments recently, I see no other possible reason for this.

You mean reasons other than a gazillion signs of being in an echo bubble?

Exponential trend-line, lots of price hype, excessive trading on margin, and any news were tied to speculation, not commerce or reasoning as to why the price would rally. They ran out of leverage for the long positions all the time, what the hell? And then everybody was talking about a TV show that perfectly justifies the new prices... oh, and of course an immediate impending rally to 8. And then 9. And single-digit prices suck anyway!

Remember we're still above a 200% rise from the low about two months ago!

People are overdoing it! The later they come to their senses, the harder the landing is. "Rise to the moon right now!" is not a good plan, and if it fails now that's still better than repeating the madness of last year and paying with another exodus in a multi-month bust. If it's not too late to prevent that already.

you are dumb

markets swing from overbought to oversold. the 200% increase could easily have been a correction from the HISTORIC, UNPRECEDENTED downward momentum of the falling-knife (panic-selling-induced) crash. perhaps this is a sign that the correction is over and $6-$7 is a 'healthy' price range for bitcoin. always think longer term.

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StewartJ
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January 17, 2012, 10:23:04 PM
 #14

In all seriousness though 6.2 is an interesting level.

I am in, want to make some goodie profits on the way up to $7 again.

As per the last 3 times....
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January 17, 2012, 10:24:38 PM
 #15

To me the one and only major reason this dip is happening is Bitcoinica and the problems it's having. Especially with the other developments recently, I see no other possible reason for this.

I'm done with bitcoinica.  Back to good old fashioned MtGox trading for me.

Smart! Smiley

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Crypt_Current
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January 17, 2012, 10:26:11 PM
 #16

holy shit...

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Technomage
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January 17, 2012, 10:26:42 PM
 #17

You mean reasons other than a gazillion signs of being in an echo bubble?

Exponential trend-line, lots of price hype, excessive trading on margin, and any news were tied to speculation, not commerce or reasoning as to why the price would rally. They ran out of leverage for the long positions all the time, what the hell? And then everybody was talking about a TV show that perfectly justifies the new prices... oh, and of course an immediate impending rally to 8. And then 9. And single-digit prices suck anyway!

Remember we're still above a 200% rise from the low about two months ago!

People are overdoing it! The later they come to their senses, the harder the landing is. "Rise to the moon right now!" is not a good plan, and if it fails now that's still better than repeating the madness of last year and paying with another exodus in a multi-month bust. If it's not too late to prevent that already.
You do have a good point here. I've noticed that on average I had much lower expectations from the Good Wife episode than most people had. I was very surprised that it was so good. The boost we got from it was amazing, Google trends haven't spiked this high since June. And we have more money in the market than we have ever had since the summer as well. It's really NOT unreasonable to expect double digit prices soon.

What I miscalculated perhaps was how priced in the Good Wife episode was already. I didn't expect much from it but apparently many did. Or at least many thought that others do, so they speculated on it. Even with this realization I'm quite sure that what Bitcoinica is experiencing right now has a major effect on the market. That's undeniable. A good share of Mt. Gox volume comes from Bitcoinica so when it has problems, there is a strong effect on Mt. Gox.

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proudhon
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January 17, 2012, 10:28:31 PM
 #18

Yikes.  Glad I got out of there.  And I think I might lower some of my bids...
Crypt_Current
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January 17, 2012, 10:28:42 PM
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Maybe a new, yet big player just wants cheap coins

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Serge
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January 17, 2012, 10:28:47 PM
 #20

some one is getting all cheap coinz before rally kicks in , i think you guys had been had.
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