YEP its a crash

Bullion Baron said:
tozak said:
would not call this a crash just yet, it's just a correction.
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Drops 50% in a week. Not a crash. :lol:

Not saying it can't go higher, but c'mon...
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If you want to say a 50% drop in a week in (Bitcoin terms) still classifies as a crash then I guess this would be about the ??WOT?? time it has crashed in the last 24 months, I have lost count. I would only call it a crash once it breaks below the last peak.

It's was only like US$150 about 6-7 weeks ago, if it gets below US$220 I'll agree it's a crash, until then it's just the normal (but agree volatile) Bitcoin trading swings.
 
This is a pretty impressive bursting of the latest (6 week or so) Chinese fuelled bubble aspect of Bitcoin, IMO.

So much Chinese drama...

14_bitcoin_china_month.png
 
roman said:
I wonder how many newbs are incapable of seeing a bulltrap when it's whacking em in the face?
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Depends on your perspective, I would say noobs are missing the beartrap right in front of them and will be sorry they sold when it turns up again and makes new highs.
 
Altima said:
If the Chinese are getting out, what makes people think it will go back up? Didn't they start the speculative rise in BitCoin?

Perhaps it's the Chinese investors who are laughing right now.
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Mate. Please.
Look at the long term chart.
Bitcoin was here way before the Chinese!
It goes vertical, them crashes down, tags along for a few months and goes boom up again.

Interesting all the "experts" we have here who didn't know bitcoin before this run up haha
 
tozak said:
roman said:
I wonder how many newbs are incapable of seeing a bulltrap when it's whacking em in the face?
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Depends on your perspective, I would say noobs are missing the beartrap right in front of them and will be sorry they sold when it turns up again and makes new highs.
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Well... just calling it as I see it, having nothing invested I hope you're right and the hurt stops for everyone involved. Lets see where we go, one thing is for sure, it's pretty amazing to watch.

Don't read anything into it, i'm not here with salt.
 
roman said:
Just in case there are people unfamiliar with http://bitcoinwisdom.com/ it's pretty darn good.
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Great link roman, that's case-in-point, shows last correction

Last pullback was from US$266 down to US$50.01
This time high was US$1242 down to ? (But same amplitude would mean low of US$233.50)

So US$233.50 low would be a (Normal) bull market pullback for Bitcoin
 
If anyone wants a wager I'll bet you 2,000 Doge coins that BTC wont go below US$233.50 on this pull back
 
Find it amazing how agressive but coiners were at $1200 to anyone that was bearish. Now at $490 there is still way too much optimism for a bottom to be anywhere in sight.
Bitcoin nutters
 
metalzzz said:
Find it amazing how agressive but coiners were at $1200 to anyone that was bearish. Now at $490 there is still way too much optimism for a bottom to be anywhere in sight.
Bitcoin nutters
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I wonder what is going to replace the Chinese market, if anything
 
I'm sure bitcoin will be back around $100 before the year ends. Easy come easy go.

Don't worry though the Chinese will keep buying gold :D
 
metalzzz said:
Find it amazing how agressive but coiners were at $1200 to anyone that was bearish. Now at $490 there is still way too much optimism for a bottom to be anywhere in sight.
Bitcoin nutters
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all relative to when you entered into it I guess.

The Chinese created a bubble and now they've popped it.
Bet this move only erases the stupidity they initially caused, then the smart money can come in and buy up.
 
metalzzz said:
Find it amazing how agressive but coiners were at $1200 to anyone that was bearish. Now at $490 there is still way too much optimism for a bottom to be anywhere in sight.
Bitcoin nutters
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Three words: Bitcoin - Young - Volatile - nutty
 
China's largest Bitcoin exchange said Wednesday that it has stopped accepting new deposits, a potentially crippling blow that could make it much harder to trade the virtual currency in China.
The exchange -- called BTC China -- said in a post on Weibo that it "has no option but to stop accepting yuan deposits."

"Bitcoin deposits, bitcoin withdrawals and yuan withdrawals are unaffected," the company said. "We will try to provide another deposit option as soon as possible."

http://money.cnn.com/2013/12/18/technology/bitcoin-china-exchange/
 
Load of Bullion said:
metalzzz said:
Find it amazing how agressive but coiners were at $1200 to anyone that was bearish. Now at $490 there is still way too much optimism for a bottom to be anywhere in sight.
Bitcoin nutters
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Three words: Bitcoin - Young - Volatile - nutty
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That's 4. :cool:
 
aleks said:
Interesting to see how his goes when the yanks wake up
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I'm going to stay up to watch what happens. at this rate bitcoin might be back to $1 by morning.

How pissed off will all those people be that invested ALOT of money in computer hardware to mine.
 
I dunno what everyone's worried about - keep your eyes on the long game

I'm a buyer at these levels - not backing the Tonka up though, just slowly slowly catchee bitsy... ;)
 
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