Friday, February 7, 2014

Bitcoin Price Collapse

So much for Bitcoin price "stability."

Over the last 10 days, Bitcoin has dropped from $956 to $698.

Bitcoin may have occasional upward spikes, but the general trend is down, way down. There appears to be very little in the way of upside volume for the e-currency. On any future positive news when there may be an upward spike, it should be considered a selling opportunity.



15 comments:

  1. Which Bitcoin idiot posting here was it that was saying Bitcoin was headed to $10,000 last month?

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    Replies
    1. The potential is much higher than $10,000. Time will tell.

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    2. And here's the idiot, right on cue! Ladies and Gentleman, I introduce to you Honey Badger...the person who will defend shitcoins no matter how low they go. Do I hear zero? Yep. soon enough. My GOLD has been doing great. aren't you glad you didn't take my bet, honey badger? deep down you are. BUY GOLD, everyone!

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    3. Chris B. - You sound like an insane person. Look at Bitcoin vs. Gold Year/Year, or 2 years/2 years, or 3, or 4, or 5. If, and that is a big if, gold wins in year 6, then you can start talking again. Until then I think you should take a time out.

      PS - I am a gold bug too.

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    4. I'm the idiot?! explain to me in what world bitcoin outperforms gold. I won't wait for year 4 or 5. shitcoins is taking a major dive now. it's so volatile that your statement is the only thing idiotic. The only hedge against inflation is GOLD. shitcoins are here today...gone later today!

      PS - shitcoins are a joke.

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    5. Based on Honey Badger's optimism, I came very close to buying bitcoins at $1200. The only reason I didn't was that coinbase would not answer some questions I had. If I had done so, I would have lost almost HALF, half my capital in less than two months. So now what? Should I buy at $698? How can I ever buy bitcoin? It's fine for Honey Badger who bought at $5, but that is history. I don't think I could ever buy bitcoin until the price hasn't changed for at least two years AND that I am certain I will not get arrested if I somehow don't jump thru all the anonymity hoops and that the person I buy them from is not an undercover agent or has himself allowed his anonymity to be compromised. I just don't see it. I would advise Honey Badger to sell NOW and take home his marvelous profits.

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  2. no doubt this has to do with naked shorting in the bitcoin futures! manipulation!

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  3. And some of us believe this is another buying opportunity. Only time will tell.

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  4. On Dec 1, you could buy a oz of gold with 1.01 bit coins. Now it takes 1.8 bitcoins to buy an oz of gold. Might as well price it in gold since bitcoiners don't like dollars. So they lost 46% of the purchasing power since Dec 1. S&P 500 is basically the same level as Dec 1. oh well.

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    Replies
    1. troll or not...doesn't make him wrong.

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    2. Yeah. Jerry is sometimes right on those few occasions where reality coincides with his statist programming.

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    3. Evil "statist Programming" Arghh!!!!!

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  5. The sky is falling! Sell Sell Sell Sell!!!!!!!!!!!!!!!

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  6. Wenzel is in the business of providing investment insights from an Austrian/Libertarian perspective, detached from concepts of "right" or "wrong." As such, he has never been "anti-Bitcoin." All he has said is he thinks it has been in a bubble and that those who buy should consider it an incredibly high-risk venture. And guess what, he has been RIGHT. Thank you Bob! Because my choice was not whether to hang on to bitcoins I bought at $5, but whether to buy at $1,200 or not. I didn't, thanks to Wenzel, and now I still have all my capital. Instead I took Wenzel's advice to buy more gold in December at $1200 - $1220. Even though gold has not gone up much, at least I didn't lose HALF my capital.

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