byronbb
Legendary
 Offline
Activity: 1414
Merit: 1000
HODL OR DIE
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January 17, 2012, 10:29:16 PM |
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panic mode confirmed
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teflone
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January 17, 2012, 10:29:24 PM |
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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 but apparently many did. Or at least thought that most 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. Bingo... |
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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January 17, 2012, 10:30:05 PM |
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some one is getting all cheap coinz before rally kicks in , i think you guys had been had.
Maybe, but this isn't looking good. I'm just happy to be in USD right now. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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January 17, 2012, 10:31:03 PM |
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Also, what we're now seeing is because of bitcoinica. Well done Z.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Crypt_Current
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January 17, 2012, 10:31:51 PM |
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FUUUUUUUUUUUUUUUUUUUUUUUUUUUU... STOP IT YOU GUYS!!! lolz
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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January 17, 2012, 10:32:48 PM |
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So, um, I guess nobody wants these things anymore.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Serge
Legendary
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Activity: 1050
Merit: 1000
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January 17, 2012, 10:33:18 PM |
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FUUUUUUUUUUUUUUUUUUUUUUUUUUUU... STOP IT YOU GUYS!!! lolz
we can't be lower than 6, there will be plenty of support to kick us back to 6-7 range, after they fill up their socks |
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RyNinDaCleM
Legendary
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Activity: 2408
Merit: 1009
Legen -wait for it- dary
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January 17, 2012, 10:33:45 PM |
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I'm glad I sold @ $7.12. This is gonna fly down once liquidations get moving. Effin Goxlive!  |
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Vandroiy
Legendary
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Activity: 1036
Merit: 1002
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January 17, 2012, 10:33:51 PM |
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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.
I have difficulty answering a post that begins with a personal insult. I'm using indicators to estimate absolute market liquidity and size/amount of speculators, but you know what, sharing thoughts on trading is overrated. Go figure it out yourself. Also makes it easier to just call me the 1:32+ Mat Cauthon for succeeding in five of five trend break predictions. Certainly, I am just dumb and it was all pure luck. Not that a random guess gets these right with a 50% chance by far, go read up on skew for that. lol 5.4 limit. That most certainly was just chance, what an evil dumpster. Must have wizard-hatted these coins out of nowhere, eh? THE MANIPULATOR! |
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Bro
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January 17, 2012, 10:33:58 PM |
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that's awesome
love it
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teflone
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January 17, 2012, 10:34:19 PM |
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Also, what we're now seeing is because of bitcoinica. Well done Z.
Once again, I will 100 percent agree with you.  |
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Bro
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January 17, 2012, 10:34:57 PM |
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haaaa, can't buy on gox, what's going on?
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P4man (OP)
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January 17, 2012, 10:35:22 PM |
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I started this thread when it was $6.5 31 minutes later its $4.8 and dropping like a rock. Three cheers for self stabilizing unregulated markets  |
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Electricbees
Sr. Member
Offline
Activity: 322
Merit: 250
We are bees, and we hate you.
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January 17, 2012, 10:35:50 PM |
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It's the great crash of 2012...
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Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
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Crypt_Current
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January 17, 2012, 10:36:44 PM |
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Someone plz buy these cheap coinz now plz. before i lose all my little amount of monies.
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jojo69
Legendary
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Activity: 3332
Merit: 4615
diamond-handed zealot
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January 17, 2012, 10:38:29 PM |
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wowwwwww
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This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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Hawkix
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January 17, 2012, 10:38:45 PM |
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60k BTC dump. Wow. Watched as the MtGox cannot sell fast enough. Fallen down slowly like through an oil.
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ineededausername
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January 17, 2012, 10:40:20 PM |
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Wow...
Anyways, we've seen these crashes before, and we'll bounce back... eventually. Who knows when.
Get ready for a bearish January!
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(BFL)^2 < 0
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Crypt_Current
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January 17, 2012, 10:40:45 PM |
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OMFG THIS IS THE MOST SCARED I HAVE EVER BEEN I WILL NEVER TRADE ON MARGIN AGAIN...
...
(lol)
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StewartJ
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January 17, 2012, 10:41:32 PM |
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It's the great crash of 2012...
Buying even cheaper bitcoins. Hence the cost averaging. |
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