It's falling pretty fast now. At 510. Sanlmar, like you, I hate doing the "public" plays as they are usually sucker bets, but I keep seeing it bounce back from 500 that it almost seems automatic at this point.
I think I will just watch and jump in as soon as I see signs of a recovery, from wherever that is.
Do you have any clue regarding the reason for the crash? I doubt it's the IRS thing because that got publicized a few days ago.
I don't get too caught up in reasons. It is what you see. The market (price) tells you what you need to know. It ain't pretty.Originally Posted by Dan Druff
You never have all the news. Particularly in equities/stock market. The price action informs you. Listen to it.
Big selling for 10 days or more. Lol Dorian....
I still hold to my plan
Don't ever feel like you are going to miss something. Particularly here. Wether it bounces here or not, it will retest $500.
There is always another chance to trade.
GL
Boom.
I can wait. A good drilling will reward with better bounce. Better EV.
I will be patient. If my plan doesn't unfold, so be it.
Boom what?
It popped to $519 off low. Nothing really.Boom what?
Epic battle here. Someone keeps slamming it with big selling.
How much does Karpeles, Dorian, hackers & thieves want to unload?
Those playing the bounce off $500'ish keep getting eaten up.
Spectator sport only.
someone just described it as "a shot skunk going underground to die" and im still laughing.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Bitcoin Prices Plunge on Report PBOC Orders Accounts Shut
Bitcoin prices plunged nearly 10 percent today after a report that China’s central bank ordered banks and payment companies to close the trading accounts of more than 10 exchanges.
Accounts must be shut by April 15, preventing investors in the commodity that advocates promote as a digital currency from doing fund transfers to the exchanges, according to a Caixin news report citing a notice sent to banks and third-party payment companies this month.
This rumor is not new. Been surfacing on Chinese version of twitter for a long time.
Them bubble lovin Chinese need a way to buy chips in Macau to play Dwan.
it's happening
Decided to finally jump in. Made a play on Coinbase for 1.947 BTC at $512.90.
Of course minutes after I do that (with the price never going under 511 at Coinbase all day), it crashes and is currently at 502 on Coinbase and 492 on Bitstamp.
I'm only risking $1000 so it's no biggie, especially since I'm unlikely risking anywhere near the whole $1000, and will only lose a few hundred even if there's a massive crash to something like 300.
If I want more than $1000, I can't instant-buy, meaning that I have to wait until the transaction clears my bank before I can actually have the coins, which is gay in case I want to unload them after a run-up. I have 50k in buying power but I don't feel comfortable committing a lot of money and having it "stuck" while they process my bank transaction.
Edit: Now at 480 on Bitstamp. I really have great timing.
I am in $470 if we get there
I dipped my feet in @ $515
Nvm. I am in per plan $480
I love losing 5% within the first few minutes though.
I had literally just hit enter to submit the transaction and I watched it crash on Bitstamp seconds later. Talk about running bad. If I had seen it seconds earlier, I would have held off, and then bought on Coinbase when it was like $485.
$50 down the drain. Oh well, could be worse.
Druff,
Why are you even fucking with this stuff right now? Let's say you make a little on this and the IRS wants their fair share and they audit you, over some bitcoin. And then all your poker play will be scrutinized and you may end up sucking a dick in prison because of bitcoin. Then Micon wins....again.
IRS isn't going to audit me over this unless I move big money, which I am not planning to. I'm not going to hide any profits from the IRS, anwyay.
$510 gonna offer huuuuge resistance to upside.
Folks like Druff who bought all day at $510 ish are gonna have that "get me the fuck out, I am even" response.
$500 obv an issue too.
Sanlmar where are you doing your bitcoin trading?
Took FTP's advice long time ago and trade Forex
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