Question on Lows please

[serenitys]

I saw that there was a low of 279 at some point over the weekend. I was surprised it really did hit 200s, to be honest...but then it jumped back to the 300s before I could take advantage of it.

My question is this - what is the going consensus on the price where it really freaks people out and goes into a death crash...as in, if the price gets to X, instead of a buy back, it'll trigger mega panic sell off that sends it down to "catastrophic" levels (according to bears) before the buy back (of cheap coin).

I honestly thought if it hit about 225 that'd be enough to send it into the double digits off fear alone.

Several threads had people insisting we'd never see 300s again and never see 200s again and we'll be turning to bone waiting on 100s...but it is dropping, manipulated or not so if whoever is behind the manipulation is that capable, what would be the reason they couldn't just keep it going until the price was 50 bucks or lower? Serious question. Don't wave it off as "never happen"...I'm asking why not.

And, as the first part, what do you all think the magic number would be before a mega crash happened faster than a buying rally?

Thanks 

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[serenitys]

PS

Is my bitcointracker chart broken? It's been like this awhile now.

Interesting to see this though. I think this may well have answered my question above. The magic number appears to be 300. When it moves, it's probably going to move hard.

 

[piramida]

There is a limited amount of cash on exchanges, so in theory, you could move 100k coins to stamp and drop the price to zero. SO if you are worrying about instant price - the bottom is zero. As for a real bottom where the price could stay, we are at it now.

[santaClause]

There is a limited amount of cash on exchanges, so in theory, you could move 100k coins to stamp and drop the price to zero. SO if you are worrying about instant price - the bottom is zero. As for a real bottom where the price could stay, we are at it now.

It would be illogical to do this. You would receive a very small amount of money for selling incremental amounts of bitcoin on bitstamp (or other exchanges), therefore the incentive to get the price to go from $50 to $10 is really not there.

Also there are companies like circle and coinbase that customers can use to essentially "instantly" transfer money to exchange to buy bitcoin to prop up the price