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Author Topic: 94% correction? [46% so far]  (Read 7970 times)
M4v3R
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February 14, 2012, 07:46:24 AM
 #101

That's also the first level bottom S5032 predicted. Just sayin'  Roll Eyes
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February 14, 2012, 10:09:17 AM
 #102

I am a big fan of the 33% retracement, I don't fully understand it but it seems  very real to me.

When we get to 4.81, how can we see the up "retracement"?

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February 14, 2012, 10:37:29 AM
 #103

I wonder what will happen if we go below 4.8
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February 15, 2012, 07:30:46 PM
 #104

42% correction so far. I will edit the title every time it does a new low.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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February 15, 2012, 07:37:15 PM
 #105

I have a feeling that will be soon.
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February 15, 2012, 08:04:54 PM
 #106

Yup, set phasers to short.
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February 15, 2012, 08:17:26 PM
 #107

Nagle... Nagle... Nagle...?

No, you say it backwards in front of a mirror......

Elgan... Elgan... Elgan...

OH SHI....

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February 15, 2012, 10:08:14 PM
 #108

I'm starting to think what will ultimately destroy bitcoin is the concentration of coins from the early days.

Or... alternatively, there will be an uber crash which eventually will lead to stablization.

IF that is the case, there should be diminishing volatility as coin distribution involves market movements instead of hoarding...

Maybe.
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February 16, 2012, 03:49:05 AM
 #109

OK, time for an update. 46% correction.

Can we go further? We will see.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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February 16, 2012, 05:53:10 AM
 #110

I'm starting to think what will ultimately destroy bitcoin is the concentration of coins from the early days.

Or... alternatively, there will be an uber crash which eventually will lead to stablization.

IF that is the case, there should be diminishing volatility as coin distribution involves market movements instead of hoarding...

Maybe.

This is why the distribution process of Litecoin was done in a fairer manner. But then again there are arguments for and against litecoin.


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February 16, 2012, 03:48:14 PM
 #111

I'm starting to think what will ultimately destroy bitcoin is the concentration of coins from the early days.

Or... alternatively, there will be an uber crash which eventually will lead to stablization.

IF that is the case, there should be diminishing volatility as coin distribution involves market movements instead of hoarding...

Maybe.

This is why the distribution process of Litecoin was done in a fairer manner. But then again there are arguments for and against litecoin.

Litecoin does not solve this problem, it just does the same thing on a different time scale. It's a misconception to think the price swings are a property of the coins or initial distribution; it's a property of the traders we have. The volume causing all this is massive, even compared to the total amount of Bitcoins out there. It's caused by strange behavior of speculators, and heavy fluctuations in the inflow of money.

We need more time. Speculators that stabilize price will slowly accumulate a part of the coins and dollars on the market, slowing down the rough ride we're seeing. But that isn't achieved in just a few months, as I've been saying for almost a year now. One year of the trading chaos is not a long time considering Bitcoins have been minted for more than three.
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February 17, 2012, 04:39:03 PM
 #112

Does anyone actually want a stable flat and level line price?
muyuu
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February 17, 2012, 05:27:44 PM
 #113

Does anyone actually want a stable flat and level line price?

I'd love a much flatter graph than the current one. A normal currency or commodity graph would do.

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muyuu
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February 17, 2012, 09:06:15 PM
 #114

Does anyone actually want a stable flat and level line price?

I'd love a much flatter graph than the current one. A normal currency or commodity graph would do.

You mean like something stable—perhaps silver.

That would be enough. As hot as silver has been for the last few years, you won't see a 40% swing in 3 days.

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