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Holy sh*@: Bitcoin drops 50% in last 24 hours

Discussion in 'CryptoCurrency' started by bartosimpsonio, Dec 18, 2013.

  1. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    You guys tracking the catastrophe?

    Someone asked whether they should buy a bitcoin just yesterday.....WTF....

    Check out the spread just the last hours at mtgox:


    • High:$749.40000
    • Low:$455.00000
     
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  2. SolaRank

    SolaRank BANNED BANNED

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    The bubble was always going to burst, it had been going up consistently for years.

    However the Bitcoin market is so volatile i wouldn't be surprised if it went back up tomorrow.
     
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  3. TheUnborn

    TheUnborn Elite Member

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    This is shocking news for me,as I wanted to invest in cryptocurrencies
     
  4. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Man, I went out for lunch, when I came back it was a catastrophe...glad I don't hold any positions in BC's, but I also planned on investing....
     
  5. DarkPixel

    DarkPixel Jr. VIP Jr. VIP Premium Member

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    If that's shocking, then I wouldn't recomment investing in the future. This means nothing. It will rise as fast as it drops. But you need patience.
     
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  6. coolkumar123

    coolkumar123 Regular Member

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    Man it do not look good. Well i guess it is the right time to buy bitcoin.
     
  7. Masterptc

    Masterptc Regular Member

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    Did something happen to trigger this? Anyways its going back up, its at $600 right now im sure by tomorrow it will be back around $800-$1000
     
  8. loclhero

    loclhero Supreme Member

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    You can thank China. Anyone that has the balls (or toss away cash) to get in on BC at this point is crazy. It might wind up as a valued alt-currency some day but nowhere soon

    http://www.nytimes.com/2013/12/19/b...nminbi-deposits.html?hpw&rref=technology&_r=0
     
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  9. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Aaaaand there's our culprit.

    No surprise there. A closed system like China must fear a free digital currency like the plague. Secret, anonymous transactions means big trouble for the centralized economy of China...
     
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  10. ExpressFans

    ExpressFans Jr. VIP Jr. VIP

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    Damn... the top post on r/bitcoin is the USA Suicide Hotline number...
    Things are THIS bad?
     
  11. twistedtrick

    twistedtrick Power Member

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    This happened at BTC=$1...this happened at $20...this happened at $100...this is happening at $1000. What's the big deal?
     
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  12. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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    One of the biggest ecommerce websites in China stopped accepting it a few days.... it was bound to happen.
     
  13. Danny1111

    Danny1111 Elite Member

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    its a pump and dump scheme at the moment .. so your going to get this volatility .. but I'm pretty sure people will still buy it when the price drops because they still see some value in it.

    unregulated though always means - don't bet the farm on it
     
  14. innocent_kid

    innocent_kid Power Member

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    i can bet it will be 700+ by tommorow again
     
  15. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Some people bet they'd reach U$ 40k - they're on suicide watch now.
     
  16. Bucketbot

    Bucketbot Regular Member

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    This is absolutely nothing & actually is a dream scenario for those of us who have seen the coin flail around since the first bubble popped at $30.

    China has no balls. Or maybe just half of one. What else did you expect from a communist government though? I do feel for the general Chinese populace.

    The numbers will tilt in the favor of Earth's inhabitants eventually. The ruling elite shall not persist forever. It's an ebb & flow kind of deal.
     
  17. davids355

    davids355 Jr. VIP Jr. VIP Premium Member

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    What a big turn around. Wonder if/when it's likely to recover?
     
  18. Patel

    Patel Senior Member

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    This week is the best time to get in if your smart. bitcoin is nowhere near dead, if anything, after this crash you will see new players entering the market because of the low price at time of entry. The development and start ups around the bitcoin space are at an all time high right now. Even if the price is low. If anything, the big players would not want to enter while Bitcoin was peaking in price. Now they have a great opportunity to.

    The price is significantly higher than the start of this rally which started at about $300. At the time of post it is $561
     
    Last edited: Dec 18, 2013
  19. Numbuh362

    Numbuh362 Elite Member

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    Wow omg bitcoins are at $500 I care so much
     
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  20. mirrorer

    mirrorer Jr. VIP Jr. VIP

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