Speculation forum seems awfully quiet since price drop. I have a few questions!

[disclaimer201]

Is it me or are people talking much less in the speculation section of the forum when the price is going down?

Wouldn't this be the time to discuss more questions even if the answers to them are predictable, such as

"Why did the price drop so much in the past week although it was predicted to go up?" or
"What exactly happened there?" to
"Can we find out if the thieves who took out bitcoinica and slush are cashing out now?"
"Were we fooled by the same people driving up the market in order to cash out high on those stolen coins?"
"Will it be a temporary drop only because of the stolen coins?
"Have there been any (more?) confiscations on MtGox for stolen coins?"
"If so, will this entire tainting/ non-fungibility issue cause mistrust and less user adoption or possibly an ultimate death of BTC?"
(I hope this one doesn't occur since I'd lose a lot of money) or
"Can we ignore the above issue because 42000 coins are neglectible and Bitcoin will continue to grow rapidly?"

Or are people contend with their fortune teller email updates and keep their insider knowledge to themselves?



I'd love to hear more opinions for why the price is going down esp. in times like this, not just the cheering when it's going up!

Or is everyone shorting here?

[zby]

At any given moment most people on these forums are long in bitcoins and being proven mistaken does not make people talkative.

[Blind]

I got in at $5.3, a day before dive. I do not want to talk about this.

[dopamine]

Its all about supply and demand and market basics, we are in a nice trading range to the downside, we can go lower but we are already oversold on the daily chart, and we still haven't broke the major trend line that started in 2011

selling 20000 bitcoins and we are still holding above 4.50

[fcmatt]

it gets boring after a while. i might as well go back to mining and shifting it to the bank account all the time for usd.
i decided to take my play bitcoinica money and play blackjack last night to get the bitcoin economy going. lost of course.
otherwise... it is getting warmer outside. time to get a life again ;-)

[N12]

Its all about supply and demand and market basics, we are in a nice trading range to the downside, we can go lower but we are already oversold on the daily chart, and we still haven't broke the major trend line that started in 2011

selling 20000 bitcoins and we are still holding above 4.50

Care to share that trendilne?

[waveaddict]

Its all about supply and demand and market basics, we are in a nice trading range to the downside, we can go lower but we are already oversold on the daily chart, and we still haven't broke the major trend line that started in 2011

selling 20000 bitcoins and we are still holding above 4.50

Care to share that trendilne?

just connect the 2010 top to the 7.2 top and the 6ish top (apex of the triangle before we dove to 3.87) in a log-based chart. There is indeed a trend-line there but if means little at the moment since there is no trending channel to to go alongside it in either direction

[N12]

Its all about supply and demand and market basics, we are in a nice trading range to the downside, we can go lower but we are already oversold on the daily chart, and we still haven't broke the major trend line that started in 2011

selling 20000 bitcoins and we are still holding above 4.50

Care to share that trendilne?

just connect the 2010 top to the 7.2 top and the 6ish top (apex of the triangle before we dove to 3.87) in a log-based chart. There is indeed a trend-line there but if means little at the moment since there is no trending channel to to go alongside it in either direction

Because of the context, I think he was talking about an uptrending line. I’m guessing this one: https://i.imgur.com/GjJzi.png

[waveaddict]

Its all about supply and demand and market basics, we are in a nice trading range to the downside, we can go lower but we are already oversold on the daily chart, and we still haven't broke the major trend line that started in 2011

selling 20000 bitcoins and we are still holding above 4.50

Care to share that trendilne?

just connect the 2010 top to the 7.2 top and the 6ish top (apex of the triangle before we dove to 3.87) in a log-based chart. There is indeed a trend-line there but if means little at the moment since there is no trending channel to to go alongside it in either direction

Because of the context, I think he was talking about an uptrending line. I’m guessing this one: https://i.imgur.com/GjJzi.png

  true, but try drawing that same trend-line on a log based chart.

Rarely do you want to put a non-log chart over a log one.

[fcmatt]

i should also add that going long on bitcoinica is too expensive long term. one cannot short all the time and spreads too big to deal with.
buying selling btc, does not make enough possible profit to interest me due to not wanting 1000+ dollars in play.

[dopamine]

Enjoy and start buying  

[dopamine]

I hope I haven't given out the secret how market works....

[fcmatt]

I hope I haven't given out the secret how market works....

i think a problem with charting is that a lot of others do the same thing on bitcoin, which in my opinion, will only work as long as the big players care to make it work for us.
if they want out and fresh usd dries up... price will just degrade to low levels. 1-2 bucks per btc may be good times fondly recalled.
yes bitcoin has a market like a child who has a new toy. which he may get bored of some day and move onto new things.

i find bitcoin to be a novelty/useful for some things but to hold it long term... nah. just a bunch of 0s and1s... rather buy something else.

[teflone]

I hope I haven't given out the secret how market works....

i think a problem with charting is that a lot of others do the same thing on bitcoin, which in my opinion, will only work as long as the big players care to make it work for us.
if they want out and fresh usd dries up... price will just degrade to low levels. 1-2 bucks per btc may be good times fondly recalled.
yes bitcoin has a market like a child who has a new toy. which he may get bored of some day and move onto new things.

i find bitcoin to be a novelty/useful for some things but to hold it long term... nah. just a bunch of 0s and1s... rather buy something else.

This will be the most hilarious post in 1 year...  not 2, not 5...  1 year...

Stick around, I want someone to laugh at in 12 months time.. 

[disclaimer201]

I got in at $5.3, a day before dive. I do not want to talk about this.

5.3 isn't that bad if you didn't start playing at bitcoinica. I did the same. Just hold it until all that promised uptime movement catches back on. S3052 (what kind of a name is that anyhow?) keeps on talking about Bitcoin testing the 32$ high again sometime in the not too distant future. In case he is wrong, that one guy who bought for 16$ is even more screwed than we are. And even he can make up for it buying some more bitcoins for cheap to level out his overall cost per BTC.

I'm guessing after those 40000+ Bitcoins are laundered and sold the price will slowly go up again. The worst thing you could do is get cold feet and sell below your purchase price, even if the price keeps going down. Only in this case you will make someone else richer.

I'm mining and I bought some bitcoins so I can tell you with power costs in Europe, you actually got a bargain. In Germany e.g., it would probably be cheaper to buy for 4€ (5.3$) than to do your own mining.

[smoothie]

I hope I haven't given out the secret how market works....

i think a problem with charting is that a lot of others do the same thing on bitcoin, which in my opinion, will only work as long as the big players care to make it work for us.
if they want out and fresh usd dries up... price will just degrade to low levels. 1-2 bucks per btc may be good times fondly recalled.
yes bitcoin has a market like a child who has a new toy. which he may get bored of some day and move onto new things.

i find bitcoin to be a novelty/useful for some things but to hold it long term... nah. just a bunch of 0s and1s... rather buy something else.

This will be the most hilarious post in 1 year...  not 2, not 5...  1 year...

Stick around, I want someone to laugh at in 12 months time.. 

i laughed at your "zero spread my ass" post.........spread ur ass? lol

[guruvan]

$5.3 isn't too bad. I got in some not far below that myself. Some days you just make a bad trade.

Even though it went down to $4.50 or so, I don't see any reason we can't see $5.40 soon.

while it would be nice to test the $32 high again, I'd like to see the climb not be so steep