Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253259 times)
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phoenix1
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June 08, 2013, 11:25:55 AM


EDIT: Yeah, some would like an immediate dump to $50 to buy cheaper, but is that really better for BTC than a slow(ish) decline like this, even if it takes weeks ?


I keep thinking about plasters. I don't like it, but I know that sucker's gotta come off.

The longer it stays inflated, the greater the long term hurt. IMHO.

Also, why let the whales cash out at your expense?


Well, we could crash to 50 then have another long slow slide. For BTC to be an attractive large investment, the future price target must be high above the current level. If those investors aren't buying in now, nothing says they will buy in at $50. And if you're looking for increased mass adoption, a dump to $50 at s time when it is difficult for them to transfer in money, will NOT have the punters queuing up to buy.



Agreed ... no guarantee of the bounce if we crashed as there would still likely be this 'overhang'. And it would likely put many people off.
Re investors, the biggest problem IMO is not price, it is liquidity. There is no out ... thats why we are experiencing what is happening now.