4 ms·
Gonna be a nice quick plunge down to the low $200s. I feel bad for anyone who bought a lot around $800 -- you'll be waiting months to recoup that investment.
by beedogs 13y ago
Gonna be a nice quick plunge down to the low $200s. I feel bad for anyone who bought a lot around $800 -- you'll be waiting months to recoup that investment.
- mmcclure 13y agoIs this latent damage from the IRS ruling or something? I don't know why I'm still surprised by sudden, massive movement in BTC price, but usually the reasons seem pretty obvious (and over-reported).
- Xdes 13y agoChina is cracking down on exchanges by forcing the state-owned banks to close their accounts. That is the speculative force that is driving down the price. It is good that the price is going down since more people will buy Bitcoin now.
- beedogs 13y agoApparently this is all supposed to sort itself out by the 18th of this month -- that's the deadline they've given for account closures.
- danielweber 13y ago"This is actually good news."
- gojomo 13y agoChina, and perhaps selling to pay 2013 capital-gains taxes.
- thefreeman 13y agoPersonally I think its more a reversal of the "hype" valuation of bitcoin. For a while it was in the mainstream media all the time. Also, probably more importantly, Mt. Gox was constantly pushing the prices higher because nobody could withdraw USD, so the only way to get out of Mt Gox was to use all your USD to buy bitcoins and then transfer them to another exchange.
- presty 13y agomonths? clearly you know nothing about bitcoin :) (not saying it won't take months, but we've seen the price go up 5x in a couple of days..) wish I had money at this moment.. would be buying :\
- fiblye 13y agoYep, I bought .1 when they were at $800. If it takes me a few months to recoup my losses, that's okay. My biggest concern is that it'll level out around $95 and never rise up to $800 ever again.
- rtx 13y agoSell it now.
- facepalm 13y agoSo irrational. His investment was 80$ So the max possible downside is 80$ The max possible upside is much higher. Treat it like an option for high winnings. What would hurt more - losing 40$ now, or "losing" 10000$ in the future (when you realize you should have kept the Bitcoin)?
- pistle 13y agoOr it could be forever... You just spoke the exact words that were spoken about WorldCom, Enron, etc. etc. Just sit tight, buy low, hold. Dollar cost average on the way down, blah blah blah.