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Author Topic: The bubble has popped, slow decline to $3 on the way  (Read 10204 times)
mem
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June 25, 2012, 04:21:18 AM
 #1

All the speculators realized that they were the only ones playing the game.
no higher  than $5 dec 31st.

If you get scared, Im offering to buy out any large holders now at $4.50.

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BoardGameCoin
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June 25, 2012, 04:25:44 AM
 #2

Make the bet on betsofbitcoin and I'll sign up and take the other side of it.

-bgc

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June 25, 2012, 04:29:18 AM
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That would be awesome but I doubt it unless we get some bad news.
NothinG
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June 25, 2012, 04:31:17 AM
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That would be awesome but I doubt it unless we get some bad news.
ASIC miners coming soon, and blocks are splitting.

The price is SURE to fluctuate. Which way? No one knows.

bb113
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June 25, 2012, 04:38:41 AM
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That would be awesome but I doubt it unless we get some bad news.
ASIC miners coming soon, and blocks are splitting.

The price is SURE to fluctuate. Which way? No one knows.

That is actually some amazing timing.
the joint
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June 25, 2012, 04:45:03 AM
 #6

What bubble?

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June 25, 2012, 05:00:04 AM
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That would be awesome but I doubt it unless we get some bad news.
Considering that Gavin is busy testing Multisig transactions, I don't expect any bad news.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
proudhon
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June 25, 2012, 05:02:18 AM
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What bubble?

mem
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June 25, 2012, 05:05:08 AM
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thats the one.

For the groups that actually use bitcoin as a currency a drop to a flat $3 price would be extremely welcome.
I will create the bet shortly.

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June 25, 2012, 05:06:39 AM
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Since when is a month-long 20% value increase a bubble?

miscreanity
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June 25, 2012, 05:13:41 AM
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Really? You're making a judgement based off of one indicator? Don't skew the picture with narrow technicals: zoom out and get some perspective. There's also the possibility that RSI remains consistently above 50 during a steady growth phase, which would see sideways movement instead of declines. And don't forget the fundamentals - there are a growing number of entities with an interest in stability!

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June 25, 2012, 05:20:27 AM
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@ Miscreanity,

Out of curiosity, are those the indicators you use most frequently?  I always use RSI, MACD, and Money Flow Index (and momentum) when I head to Bitcoincharts.com

miscreanity
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June 25, 2012, 05:55:05 AM
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@ Miscreanity,

Out of curiosity, are those the indicators you use most frequently?  I always use RSI, MACD, and Money Flow Index (and momentum) when I head to Bitcoincharts.com

Yes, usually. I watch some other indicators as well, one being something of a weekly money flow + Bollinger hybrid. Nothing has shown a strong enough signal for me to sell yet.
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June 25, 2012, 07:53:04 AM
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Too many people bought bitcoins on the way up from $5 because of:

- Hopes for a Greek exit from the Euro
- The Spanish hitting unsustainable bond rates and being forced out too
- The US Federal Reserve hitting the Print button on its computers

None of the three happened so it's natural there's going to be a sell off.  Probably back to the mid $5 range, unless Europe turns pear shaped.  Could happen any day, or not happen at all.  People will take easy profits off the table in the meantime.

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June 25, 2012, 08:11:28 AM
 #15

Quote from: mem

For the groups that actually use bitcoin as a currency a drop to a flat $3 price would be extremely welcome.
Why?
cloon
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June 25, 2012, 08:23:51 AM
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Too many people bought bitcoins on the way up from $5 because of:

- Hopes for a Greek exit from the Euro
- The Spanish hitting unsustainable bond rates and being forced out too
- The US Federal Reserve hitting the Print button on its computers

None of the three happened so it's natural there's going to be a sell off.  Probably back to the mid $5 range, unless Europe turns pear shaped.  Could happen any day, or not happen at all.  People will take easy profits off the table in the meantime.
It will not take long until greece exit the euro
The real crisis did not come yet

Btc is only in correction mode after the unhealthy panic-rise to 6.80

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realnowhereman
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June 25, 2012, 10:26:09 AM
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The bubble has popped, slow decline to $3 on the way

Definitely.  Of course, we'll want to get in at the bottom, so I'll set my buy order for $3.01, just for safety.  Hmm, but what if someone else wants those $3 coins and sees my $3.01?  I'd better set it at $3.02.  Hmmm.  $3.05.

No... $3.10, definitely.  That's as high as I'll go.

If you get scared, Im offering to buy out any large holders now at $4.50.

Oh okay, $4.51.

DAMNIT!  $5.00 and that's my final offer.

$5.50.







$6

Bollocks, $6.20

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arklan
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June 25, 2012, 10:29:57 AM
 #18

The bubble has popped, slow decline to $3 on the way

Definitely.  Of course, we'll want to get in at the bottom, so I'll set my buy order for $3.01, just for safety.  Hmm, but what if someone else wants those $3 coins and sees my $3.01?  I'd better set it at $3.02.  Hmmm.  $3.05.

No... $3.10, definitely.  That's as high as I'll go.

If you get scared, Im offering to buy out any large holders now at $4.50.

Oh okay, $4.51.

DAMNIT!  $5.00 and that's my final offer.

$5.50.







$6

Bollocks, $6.20

that, right there? is hilarious.
mcorlett
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June 25, 2012, 10:49:25 AM
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I'd love to take the opposing side of that wager!

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June 25, 2012, 11:17:05 AM
 #20

In the past I've sometimes been afraid when the price goes down and resorted to going on the "defensive" to defend Bitcoin. Not going to do that here. Declining to $3 is absolutely ridiculous, the OP is borderline trollish. The momentum of Bitcoin is right now very strong, corrections on the short term are natural but a strong decline doesn't make any sense just now.

Not that I haven't been wrong in the past but I'm serious when I say that following OP's advice could be a very bad move. I don't think that many will fall for it though, the bear trap is way too obvious.

With all of this I'm not saying that we can't decline to $5.x, that is possible. Anything below $5 I see as extremely unlikely unless radical changes happen regarding the right now very positive fundamental Bitcoin trend (news, developments, usage).

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