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Edward50 (OP)
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February 15, 2012, 10:37:07 PM |
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The slow steady sell pressure is still going as I predicted. We should slowly fall into the 3's.
Still no major player has stepped up and is trying to turn this around.
Now the market is basically run by the average joe, this means prices will start reaching their proper price level of around $1 or $2 dollars.
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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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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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February 15, 2012, 10:47:42 PM |
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The slow steady sell pressure is still going as I predicted. We should slowly fall into the 3's.
Still no major player has stepped up and is trying to turn this around.
Now the market is basically run by the average joe, this means prices will start reaching their proper price level of around $1 or $2 dollars.
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bittenbob
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February 15, 2012, 11:08:17 PM |
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I hate to say it but it looks like we are about to cross into sub $4 territory any minute now. Should be an interesting night.  |
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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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February 15, 2012, 11:17:25 PM |
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I hate to say it but it looks like we are about to cross into sub $4 territory any minute now. Should be an interesting night. SELL SELL SELL!  |
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ineededausername
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February 15, 2012, 11:19:25 PM |
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omg.. price won't go back up to $7 for months  |
(BFL)^2 < 0
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proudhon
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Activity: 2198
Merit: 1311
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February 15, 2012, 11:21:30 PM |
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omg.. price won't go back up to $7 for months Won't go back to $32 for years. |
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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Edward50 (OP)
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February 15, 2012, 11:34:57 PM |
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Forget SELL SELL SELL
SHORT SHORT SHORT.
I am going to start looking into bitcoinica
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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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Hunterbunter
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February 15, 2012, 11:35:35 PM |
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I hate to say it but it looks like we are about to cross into sub $4 territory any minute now. Should be an interesting night. meh...that can just as easily be seen to bottom out at $4.2 again. |
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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February 15, 2012, 11:43:55 PM |
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I think if you didn't sell at levels above where we're at now, selling now is extremely risky business. The big boys are going to jump back in at some point and so far it appears nobody wants to provide much liquidity on the ask side of things. If that persists and the guys who sold tens of thousands of bitcoins decide to jump back in they can easily consume everything back up to $6. I'm back in as of yesterday's low and I'm going to hold on for a bit.
Look at the history of the sells for the past month or so. The big boys are out already. The selling going on today is very likely the late comers to the party and they're the ones who'll get stung.
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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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Cluster2k
Legendary
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Activity: 1692
Merit: 1018
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February 15, 2012, 11:49:54 PM |
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An interesting moment is coming up for me. I bought into the emerging sustained rally at $4 and rode it all the way to $7, then sold and rebought. Often at a profit, but sometimes at a loss. Up overall, but it appears bitcoin will once again be at $4 very soon. Don't know whether to buy in or wait for some kind of up trend to emerge.
Waiting...
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bittenbob
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February 15, 2012, 11:51:38 PM |
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A big ask bid wall just disappeared got sold into. Get ready for a new lows.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 15, 2012, 11:53:38 PM |
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A big ask bid wall just disappeared sold into. Get ready for a new lows.
it might be a good idea to practice, everyone do this a few time ->  often when walls get sold into, walls get bought out soon after.... wait and see ... keep practicing |
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Cluster2k
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Activity: 1692
Merit: 1018
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February 15, 2012, 11:56:11 PM |
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Just read about TradeHill shutting down (yeah, slow on the news). So we're relying on essentially one exchange now (I consider handling well over 90% of all USD<->BTC as a monopoly). A single point of failure. Not exactly a comforting thought, especially as bitcoin was meant to be anything but reliant on the good wishes and business practices of one company. Competitors may emerge of course, but it all takes time and a lot of money.
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notme
Legendary
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Activity: 1904
Merit: 1002
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February 16, 2012, 12:10:05 AM |
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Just read about TradeHill shutting down (yeah, slow on the news). So we're relying on essentially one exchange now (I consider handling well over 90% of all USD<->BTC as a monopoly). A single point of failure. Not exactly a comforting thought, especially as bitcoin was meant to be anything but reliant on the good wishes and business practices of one company. Competitors may emerge of course, but it all takes time and a lot of money.
I would love to build an exchange, but I live in the US, so I know my government would get in the way. |
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cheat_2_win
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February 16, 2012, 12:10:15 AM |
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We seem to be bottoming now. I remember when there was bottom at $2.00, this kind of thread was the rage. People were speculating we would reach sub-penny price level anytime. I am seeing similar sentiment now. But remember guys, $4.00/BTC is not a joke and is not end of the bitcoin. Unless bitcoin becomes illegal or the network infrastructure collapses fantastically, there is nothing else stopping bitcoin.
Higher price right now will definitely look good for people like me who are long, however I won't complain about $4.00 /BTC price. And I am willing to give bitcoin some time to become mainstream.
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sgbett
Legendary
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Activity: 2576
Merit: 1087
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February 16, 2012, 12:16:15 AM |
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We seem to be bottoming now. I remember when there was bottom at $2.00, this kind of thread was the rage. People were speculating we would reach sub-penny price level anytime. I am seeing similar sentiment now. But remember guys, $4.00/BTC is not a joke and is not end of the bitcoin. Unless bitcoin becomes illegal or the network infrastructure collapses fantastically, there is nothing else stopping bitcoin.
Higher price right now will definitely look good for people like me who are long, however I won't complain about $4.00 /BTC price. And I am willing to give bitcoin some time to become mainstream.
not yet, we've only just got majority bearish. people are still talking about this as an 'opportunity' that's not properly bearish. |
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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Cluster2k
Legendary
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Activity: 1692
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February 16, 2012, 12:22:32 AM |
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We seem to be bottoming now. I remember when there was bottom at $2.00, this kind of thread was the rage. People were speculating we would reach sub-penny price level anytime. I am seeing similar sentiment now. But remember guys, $4.00/BTC is not a joke and is not end of the bitcoin. Unless bitcoin becomes illegal or the network infrastructure collapses fantastically, there is nothing else stopping bitcoin.
Probably two more price movements down to go: caused by those who bought back in at $5 because that was the bottom, only to see the price continue to fall. They'll cut their losses. The other movement down may be caused by people who bought into the November rally from $2. Get profit while the getting is good. Should have sold at $7, will take some profit at $4. Better than a loss. Price may recover somewhat after that. |
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Edward50 (OP)
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February 16, 2012, 12:31:10 AM |
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I think that we will bottom pretty low and stay there. NO way it will be an easy going quick bottom and back to again. Manipulators can't make money like that if it was the case.
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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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Electricbees
Sr. Member
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Activity: 322
Merit: 250
We are bees, and we hate you.
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February 16, 2012, 12:40:03 AM |
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$3.00 soon?
Sign me up.
Everyone who regrets not buying in $3.00> is now faced with a glorious redemption opportunity.
Come friday, paycheck is getting gutted to buy into this.
Until then, Everybody keep panicking! Push it below $1.00!
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Donations are welcome!
1BEES19ds5gEnRBoU1qNFPfjRXe94trMG3
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Oldminer
Legendary
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Activity: 1022
Merit: 1001
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February 16, 2012, 12:40:44 AM |
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$3.00 soon?
Sign me up.
Everyone who regrets not buying in $3.00> is now faced with a glorious redemption opportunity.
Come friday, paycheck is getting gutted to buy into this.
Until then, Everybody keep panicking! Push it below $1.00!
Cheeeeep bitcoins! |
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