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Author Topic: Price is dropping  (Read 3246 times)
epii
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May 02, 2011, 12:33:42 AM
 #21

Bitcoin had its second major price crash just after I started following it (first was Feb. 18, second was Apr. 4).  Since, unlike the first one, this didn't come during an obvious adjustment phase, it seemed like a lot of people were concerned that the end was near, the bubble had burst, and this would prove that Bitcoin couldn't sustain itself.  After a couple weeks, things strongly rebounded (leading into this current rally), and I suspect that another crash of the same magnitude is unlikely, now that Bitcoin has proven it is not as fragile as was feared.

Vires In Numeris.
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May 02, 2011, 01:10:03 AM
 #22

Bitcoin had its second major price crash just after I started following it (first was Feb. 18, second was Apr. 4).  Since, unlike the first one, this didn't come during an obvious adjustment phase, it seemed like a lot of people were concerned that the end was near, the bubble had burst, and this would prove that Bitcoin couldn't sustain itself.  After a couple weeks, things strongly rebounded (leading into this current rally), and I suspect that another crash of the same magnitude is unlikely, now that Bitcoin has proven it is not as fragile as was feared.

Agreed. Yesterday, mtgox was DDoS'ed, coinpal's paypal account was locked and bitcoins are still trading above $3.  I think confidence is higher than ever.

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May 02, 2011, 04:55:17 AM
 #23

Bitcoin had its second major price crash just after I started following it (first was Feb. 18, second was Apr. 4).  Since, unlike the first one, this didn't come during an obvious adjustment phase, it seemed like a lot of people were concerned that the end was near, the bubble had burst, and this would prove that Bitcoin couldn't sustain itself.  After a couple weeks, things strongly rebounded (leading into this current rally), and I suspect that another crash of the same magnitude is unlikely, now that Bitcoin has proven it is not as fragile as was feared.

Agreed. Yesterday, mtgox was DDoS'ed, coinpal's paypal account was locked and bitcoins are still trading above $3.  I think confidence is higher than ever.

I think you nailed it a to the cause.  Many people were moving money in and out through Coinpal and now it is down.  Investment has slowed and I expect that MtGox will lose PayPal access soon as well which means Liberty Mutual or other difficult and fee ridden methods of exchange.  Smart investment is in the ingenuity of the market to come up with an user friendly method for exchange.

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May 03, 2011, 01:02:21 AM
 #24

Bitcoin values always go up when they get easier to buy/sell.

Prices go down when mtgox is having problems and when coinpal, coincard, and bitcoinmorpheus all get shut down at the same time.

All this uncertainty is why I am experimenting with selling some bitcoins on ebay by way of a Gift Certificate (an already well-established category on ebay):

http://bitcointalk.org/index.php?topic=7072.0

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