Many people buying bitcoins now actually have more faith than most current forum members. They dont care shit about price. Bitstamp was hitting $77 last thursday. If I had had money and the volume were there (both negative) I would have bought also. Who knows if the price will dip and how much it will dip, and if the lag allows to trade etc.? I would have never suspected a ->50 shakeout would happen, at the max I would have been able to buy at $65 average rate during the weekend. Who cares really. The outcomes are BTC>1000 and BTC<100 in a few years. The first is a success, the second is a fail. There is no middle ground.
Well, I fail to grasp what exatly makes people sell at $50 but I am sure they had their reasons. Margin call could be one.
Well, I fail to grasp what exatly makes people sell at $50 but I am sure they had their reasons. Margin call could be one.
I more than agree with you.
Good point about margin calls, I can't blame people for that.
However, if someone sold at the low $50's thinking they'd be Captain Slick and get back in somewhere below that, they are (as I'm sure they're aware at this point) foolish.
Every metric by which you can measure Bitcoin points towards an increase in price.
In response to your opening statement, see proudhon. In fact I just ignored him, and it made me rather sad. I'm convinced he's doing nothing but trolling these days.
I love the bears, but when you can't even provide data or any argument for your position you are simply trolling.
I hope you stocked up on some coin for the run this week, rpietilla.
