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How low will this correction go?
The way it's looking we correct from 414 all the way down to ~350 before heading back up. Pretty crazy. How low do you think we will go?
Hopefully not long now that I have a bit of BTC
(10-23-2014, 08:31 PM)Username Wrote: Hopefully not long now that I have a bit of BTC

Being somewhat new to Bitcoins, I'm half wanting it to go down, so I can get more and half wanting it to go up so what little I do have is worth more. Wink

i think this correction can go down to 200 usd maximum, becouse china used bitcoin to transfer cny to other currencies in last mega pump
I see it hovering between 325 and 500 until all coins are mined, and then graduating from there.
My thoughts are it is the people it's causing the price drops and hikes. there are allot of paranoid investors out there who tend to listen to the roomers online and dump there coins then the whales buy them and hold on to the for cheap. I believe BTC will be back up over 600 for new years eve.
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"rumors" not roomers.

Sorry, self proclaimed grammar nazi here.
(11-11-2014, 04:40 AM)logak Wrote: "rumors" not roomers.

Sorry, self proclaimed grammar nazi here.

Might want to watch out, not many people have corrected his spelling or grammar and lived to tell the tale LOL.
Retired Server Administrator - September 2014 to February 2015

I've given up trying to figure out when the price will rise or fall, lol. I think overall years from now it will increase a lot from now.

I think it will probably have a spike when Black Friday comes along with people offering deals for Bitcoin buyers, but every time people sell their Bitcoins for fiat, it tends to go down again. And every time I think something about the price it does the opposite, if that holds true, the price will fall in the next few weeks and increase around December. lol

(10-23-2014, 05:54 PM)Alkhara Wrote: The way it's looking we correct from 414 all the way down to ~350 before heading back up. Pretty crazy. How low do you think we will go?

I believe that Dr. Paul Craig Roberts said it best in his recent interview with Greg Hunter. He was discussing the Russian Ruble and the suddent drop, the largest drop in history, with a loss of 9.5% overnight. He's a smart guy. He was the former Assistant Secretary Treasurer under the Reagan Administration. He pointed out that Russian has a trade surplus, not an imbalance and that there are no reasons for the drop in terms of market pressures.
There is no reason for the drop in gold and silver other than manipulation and I agree with that.
What he also points out is that there is naked short selling going on to purposefully drive down the price of gold and silver, and that to drive down the price of the Russian Ruble overnight only to cause the largest influx into Bitcoin by Russians in history points to some interesting factors.
What he pointed out, and I believe there are commonalities with gold, silver, the ruble, and Bitcoin ....is that there has to be some play by people with no ties to profit or loss.
What that means is that in order to pull this off, loss is not a problem to them, and that would mean a couple of things potentially be it state run or sponsored activity or the Federal Reserve that just prints money out of thin air and in tern passes on interest to future debt slaves of America in this Wizard of Oz scenario. So if they can beat down gold, silver, and the ruble, why would the save possibilities not be at play with Bitcoin to drive people out of the markets or out of safe haven buying?
Do we even know who the whales are?
Like gold and silver being beat up, is there any explanation? How long can they beat down these currencies? I would conclude if they can print money out of thin air, they can be involved in market manipulation anywhere and can continue to taketh from those that enter in, despite supply and demand, like they have with no reason at all as seen with gold, silver, and now the Ruble.
I called for $350 in the 4th quarter but to end the year off at $600 / BTC. I got that wrong.

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