For what exactly?. It did not drop in January according to your (and anothers that I saw at the time) prediction which was related to the chart formation of the time. Bitcoin going lower has 'not a thing' to do with your prediction a month ago January. Bitcoin is a tiny violently volatile market that reacts to news for the most part. It is at the forefront of all cryptocurrencies as it cops all types of good and bad news from numerous angles. Lately, Bitcoin has taken an absolute bashing and the price reflects that. There is still some potential foreseeable storm to come as stuff surrounding the Silk Road legacy is yet to play out. There are surprises in the cryptocurrency space all the time. The bitcoin price can surely drop further. Big deal!. Your manipulative use of irrelevant data and shifting of goal posts has been observed. It will suck a few people in around here.
Just how much volume was there on GOX ? To add, even the "average" value on Gox is way above the $150 mark, IE $492 at the moment on Gox with the other two at $694 and $687.
Volume on Gox was No.1 in Vol and No.2 bt BTC-USD. 24hr av price on Gox is $200. "The weighting will be determined by the three exchanges' monthly volume in BTC-USD..." "the price by the three exchanges' 24HR average price "
The futures settlement price is a weighted average price across the exchanges. Thus, Gox's price is reflected in the "general price of bitcoins" (regarding futures settlement price) , by way of averaging, due to Gox's volume. This is magnified due to the leverage gained in the futures trade to effectively reflect Gox's price fall.
? OK, you've lost me.but I gather you are saying that "The so-called "flash crash" to $102 on the BTC-e exchange did not reflect the general price of bitcoins at all." is not the case.
Sort of. I'm saying that, had you shorted BTC using futures, you would have realised all of Gox's fall, by way of the contract reflecting it as "the general price of bitcoins".
For what exactly?.(Repeated) Ok.you don't get it. Your ego is way out of check if you think I value your predictions. I have reason to suspect the BTC price to fall further. I also have reason to suspect rises too.
LOB is referring to the btc-e drop and your response is quoting the mtgox fall :/ Yes the mtgox fall will be reflected in the futures contracts you have linked to - provided the counter party pay up of course. The btc-e 'flash crash', however, is only relevant to anybody lucky enough to have had a buy order in that low at that particular moment. The 10 minutes it spent at that price will have almost no impact on the 30 day volume weighted average price.
A mind reader too!. That goes 'hand in hand' with the inflated ego. FWIW, I've made some very good and very bad trades. I'm well ahead for my efforts, from a purely financial perspective. My interests in the cryptocurrency space surpass the financial quotient.
The 'weak hands' were actually very intelligent for getting out Tip: Best not to be long in a crashing market.
I've been in the markets for 10 months or so. I've been down the path of intense 20hr day trading spanning weeks and did well (some skill and some luck, I'd say)..but I'm over it still. I'm not so interested in short term noise. I can't be bothered chasing likely good trades at the moment. The latest Mt.Gox crap is more annoying than anything else. I don't care about the price dropping the way it is. I'm more interested in the longer outlook. I've suffered before due to weak hands, although there are different ways of looking at things. Gobbledy gook and meandering goal posts mean squat without both price specifics and time frames. Over the longer term beyond 6 months, I'm bullish. I feel there is plenty of potential overall..along with the hiccups and bad actors. If you want to make price predictions for March 1st, July 1st and Jan 1st 2015, knock yourself out. I've made a prediction on GPs prediction thread..but hey.I'm no market genius. Like you.
Based on your failed predictions SilverSale I'm guessing you made SFA if anything at all. :lol: Matter of fact if people placed hard earned $ on your timescale they would of lost money.
