Correction is on the way...

[MrBig]

Plenty of exchanges got hacked as well and couldn't cover their losses. I'm sure we'll be seeing more of that in the future too.

[fewcoins]

Plenty of exchanges got hacked as well and couldn't cover their losses. I'm sure we'll be seeing more of that in the future too.

Yes, usually when a crash goes really low we get to see who was "swimming with no shorts"

[romerun]

Zoom out,  we have been correcting

[zimmah]

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Reminds me of a song called "Bitcoin is a bubble" love listening to that one when Bitcoin is going through huge swings in either direction.

Yea man and to think he warned most of the people on here way over a year ago with that song!
https://www.youtube.com/watch?v=A7TuFy0fcuw

you're either stupid or very stupid

that song is a parody and the maker of the song is definitely not a bear. Look at the end of the song..... he's clearly claiming bitcoin will reach $1 million or so.

[CryptoCarmen]

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Reminds me of a song called "Bitcoin is a bubble" love listening to that one when Bitcoin is going through huge swings in either direction.

Yea man and to think he warned most of the people on here way over a year ago with that song!
https://www.youtube.com/watch?v=A7TuFy0fcuw

you're either stupid or very stupid

that song is a parody and the maker of the song is definitely not a bear. Look at the end of the song..... he's clearly claiming bitcoin will reach $1 million or so.

But if you would check his posts you would see he was acting as a bear. Most bears here are such anyway. They hold coins and just make fun with some panic holders, how they react on trolling.

[Coinshot]

370 is a reasonable target for the correction. I do not think it will go below that, but if it does that will be a major bearish signal.

It still looks very bullish to me.

Not looking bullish anymore, but not bearish either. Have to wait and see if it goes significantly below my correction target.

[fewcoins]

370 is a reasonable target for the correction. I do not think it will go below that, but if it does that will be a major bearish signal.

It still looks very bullish to me.

Not looking bullish anymore, but not bearish either. Have to wait and see if it goes significantly below my correction target.

The range is getting smaller that's the problem, 377 to 399 is not looking good something is going to give! People are producing a lot of these everyday and they have expenses!!! If we don't stay above 400 soon any talk of the bottom will get thrown out the window, like when you guys called the bottom at 800... & 600... &...

[inca]

370 is a reasonable target for the correction. I do not think it will go below that, but if it does that will be a major bearish signal.

It still looks very bullish to me.

Not looking bullish anymore, but not bearish either. Have to wait and see if it goes significantly below my correction target.

The range is getting smaller that's the problem, 377 to 399 is not looking good something is going to give! People are producing a lot of these everyday and they have expenses!!! If we don't stay above 400 soon any talk of the bottom will get thrown out the window, like when you guys called the bottom at 800... & 600... &...

Your short is looking doubtful now. Technicals suggest we retest 400. I hope you aren't over leveraged.

[fewcoins]

370 is a reasonable target for the correction. I do not think it will go below that, but if it does that will be a major bearish signal.

It still looks very bullish to me.

Not looking bullish anymore, but not bearish either. Have to wait and see if it goes significantly below my correction target.

The range is getting smaller that's the problem, 377 to 399 is not looking good something is going to give! People are producing a lot of these everyday and they have expenses!!! If we don't stay above 400 soon any talk of the bottom will get thrown out the window, like when you guys called the bottom at 800... & 600... &...

Your short is looking doubtful now. Technicals suggest we retest 400. I hope you aren't over leveraged.

no shorts here, I only bought back a few coins before... I doubt we crack 399, when we get close I will let these go & wait for 360

[inca]

370 is a reasonable target for the correction. I do not think it will go below that, but if it does that will be a major bearish signal.

It still looks very bullish to me.

Not looking bullish anymore, but not bearish either. Have to wait and see if it goes significantly below my correction target.

The range is getting smaller that's the problem, 377 to 399 is not looking good something is going to give! People are producing a lot of these everyday and they have expenses!!! If we don't stay above 400 soon any talk of the bottom will get thrown out the window, like when you guys called the bottom at 800... & 600... &...

Your short is looking doubtful now. Technicals suggest we retest 400. I hope you aren't over leveraged.

no shorts here, I only bought back a few coins before... I doubt we crack 399, when we get close I will let these go & wait for 360

Fair enough. You are a secret bull then.

Careful, if the trend change is not invalidated this is a dangerous time to try and sell and buy back lower. Though granted during the bear market it has worked well.

[SebastianJu]

I thought breaking the trendline, that goes from august the 10th to september the 14th, on october the 14th is a good sign. This trendline was broken a couple of days ago so i thought it might have found its bottom. Then it went down again. But it doesnt look like its really ready to go down. So i wonder what this is all about. You all think it will go down again soon? Even after it broke that big trendline? Im pretty sure a lot of people bought after they saw this so i think it matters for the development of price of bitcoin. Im only not sure how much it matters.

[fewcoins]

I thought breaking the trendline, that goes from august the 10th to september the 14th, on october the 14th is a good sign. This trendline was broken a couple of days ago so i thought it might have found its bottom. Then it went down again. But it doesnt look like its really ready to go down. So i wonder what this is all about. You all think it will go down again soon? Even after it broke that big trendline? Im pretty sure a lot of people bought after they saw this so i think it matters for the development of price of bitcoin. Im only not sure how much it matters.

The overall trend really doesn't look up until after the 450-500 level... Weekends are always crazy swings with little volume! I plan to ditch my coins this weekend while the price is up and by back around 370 next week (probably Monday) Because we haven't stayed above 399 this is a very bearish sign... We lost the buying momentum for the month 

[inca]

I thought breaking the trendline, that goes from august the 10th to september the 14th, on october the 14th is a good sign. This trendline was broken a couple of days ago so i thought it might have found its bottom. Then it went down again. But it doesnt look like its really ready to go down. So i wonder what this is all about. You all think it will go down again soon? Even after it broke that big trendline? Im pretty sure a lot of people bought after they saw this so i think it matters for the development of price of bitcoin. Im only not sure how much it matters.

The overall trend really doesn't look up until after the 450-500 level... Weekends are always crazy swings with little volume! I plan to ditch my coins this weekend while the price is up and by back around 370 next week (probably Monday) Because we haven't stayed above 399 this is a very bearish sign... We lost the buying momentum for the month 

You must be new

[SebastianJu]

I thought breaking the trendline, that goes from august the 10th to september the 14th, on october the 14th is a good sign. This trendline was broken a couple of days ago so i thought it might have found its bottom. Then it went down again. But it doesnt look like its really ready to go down. So i wonder what this is all about. You all think it will go down again soon? Even after it broke that big trendline? Im pretty sure a lot of people bought after they saw this so i think it matters for the development of price of bitcoin. Im only not sure how much it matters.

The overall trend really doesn't look up until after the 450-500 level... Weekends are always crazy swings with little volume! I plan to ditch my coins this weekend while the price is up and by back around 370 next week (probably Monday) Because we haven't stayed above 399 this is a very bearish sign... We lost the buying momentum for the month 

Till now i didnt notice that the prices develop so different on different exchanges and currencies. I normally look at kraken.com € and it was pretty clear there. Though on bitstamp usd it was on $403.38 on 14th october close. So you speak about that it did not hold this level?

[Bogleg]

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Hidden whales will come out from bottom of the ocean to scoop up all the cheap coins

[maker88]

LOOK OUT BELOW! How low will it go?! Nobody knowsss

Ahh good to see your back now that BTC is down a few bucks. So how of this shit do we have the privilege to get from you this time? I would assume you would be just as happy when the price goes up right?

I've actually been posting the same "be careful" warning the last 3 days of advance we had....... Open your eyes! We poped to 450 after paypal news because the markets easily manipulated! The real whale that runs this price exchange is waiting for most of you to rush in saying "omfg cheap coins less than $400" After you rush in to pay that I am sure you'll get crushed. Bitcoin has been hitting lower highs for almost a year!! Everyone is cashing out except you guys! GLTA!

This trend of lower highs should be apparent to most rational observers right now. Just how long we will continue this trend is anyone's guess, but it does appear that we may continue along this trend at this point. I don't think everyone is cashing out, as we would see a mega-crash in that scenario, but we may see lower prices yet.

Yeah, every time it goes up, people forget that the peak of the rise is lower than the last one.  People don't generally zoom out and look at the big picture.  We're declining overall.  It's just not a good year for bitcoin, and technically it's still overbought.  

The main issue is the miners that may be over leveraged because their operations were based on profit from higher priced bitcoins.  A lot of late-moving miners came in with big investments and haven't turned profits quick enough due to falling bitcoin prices.  To cover costs they need to convert to fiat, and hence the dumping is happening.  The lower it goes, the more miners will exit... unless transactional volume is high enough to support some of those miners.  It's a chicken and egg problem.  

I honestly think it's better for the price of bitcoin to fall as we improve transactional volume (increased number of merchants/retailers accepting bitcoin), because once that is in place, the rise in price will have a more sound foundation.  Drops in bitcoin won't necessarily cause miners to go out of business.  That's when the price will stabilize or at least move with reason rather than rumors.

We can still have a healthy rise, and possibly still go up to the $1000's because the ability to own bitcoins will also be more accessible at that point.  When I first heard about bitcoin, it took me a good week to figure out how to buy it, and a few days to wire the funds from my bank.  Most people I told about it took 1-2 weeks to get started and really understand it.  Even if they all exit now, when bitcoin gets hot again, you'll have a lot more buyers flooding the market.  Currently and in the past, it most people didn't even know how to buy bitcoins or what they were.  Still in the infancy stages.  So it's difficult to bring real buy pressure even when there is some good news these days, but as time passes and more people are capable of buying bitcoins, we'll have greater jumps, especially with the limited supply.

this. the accessibility of bitcoin still is limited, even with ATMs popping up. most people in the world have no clue what bitcoin is. if they have heard of it, they think its analogous to a stock, or its some sort of electronic wizardry they can't comprehend. most people, and by most i mean 90% of the world population, hasn't gotten on the boat ever. people like fewcoins, aka falling, like to point out that every single person who could or would invest in bitcoin, is already fully invested. this is ridiculously false. like i said, 90% of the world doesn't even understand what it is yet.

[NotLambchop]

...people like fewcoins, aka falling, like to point out that every single person who could or would invest in bitcoin, is already fully invested. this is ridiculously false. like i said, 90% of the world doesn't even understand what it is yet.

But those who haven't heard of Bitcoin aren't potential investors.  Grandma hasn't heard of it--but she won't invest even if she did.  The "unbanked poor" of the world also aren't likely to.  The wealthy elite?  They all probably heard.  The penny-stock crowd?  All over it.  Major investment houses?  Of course.  The point is, the demographic likely to be both willing and able to sink heavy moolah into BTC knows.  The remaining 90% are irrelevant.

[inca]

...people like fewcoins, aka falling, like to point out that every single person who could or would invest in bitcoin, is already fully invested. this is ridiculously false. like i said, 90% of the world doesn't even understand what it is yet.

But those who haven't heard of Bitcoin aren't potential investors.  Grandma hasn't heard of it--but she won't invest even if she did.  The "unbanked poor" of the world also aren't likely to.  The wealthy elite?  They all probably heard.  The penny-stock crowd?  All over it.  Major investment houses?  Of course.  The point is, the demographic likely to be both willing and able to sink heavy moolah into BTC knows.  The remaining 90% are irrelevant.

In the context of lets say a million active btc users that is clearly false. There is plenty of room for the userbase to move up ten times and be still globally insignificant.

A multi trillion dollar capital pool will open up with ETF's to allow tax free investing of bitcoin for the typical investor who has no easy safe route to do so at present.

[NotLambchop]

^
I didn't argue that the user base can't increase.  Only that those who are "likely to be both willing and able to sink heavy moolah into BTC" already know about it.  Nothing more.

[hyphymikey]

Still waiting....