Quote from: Wuji on April 12, 2013, 08:30:26 PM

Quote from: BitSlut69 on April 12, 2013, 08:26:27 PM

Quote from: Wuji on April 12, 2013, 08:14:45 PM

Quote from: Franktank on April 12, 2013, 02:38:39 PM

What people need to realize is this lowers the barrier to entry for the average joe. All those new "verification" on MtGox will go through. The next "bubble" will be at $500 or $1000. Get your popcorn ready...

After a crash from $266 to $55 is another round on the way? If you have/had money to throw in would you, are you? I don't know it is possible we could see another bubble but, I doubt it will cross $266. I also think all we are seeing today is a new bull trap. Two bubbles in a row does not generally happen. And after such a massive loss in value a bigger bubble seems even more unlikely to me. There were some interesting charts that showed before the last rally Mar 17. that the price should be about $100 from Jan. I think that is why we see the price we see today. It is still just speculation but, it is at least more sane speculation than the past 4 weeks. I expect next week to see the price go down or mostly sideways. If it goes above $120 I'll be shaking my head.

I believe what we saw was an orchestrated sell-off and DDOS. That can't happen every day. The fundamentals are there and lots of people want to buy more bitcoins. There will be more ups and downs, but a crash to $50 or below seems extremely unlikely to me. If such a crash does happen myself and others will use the opportunity to buy cheap coins.

The DDOS was happening the whole time it was going over $100 on up to $266. The fundamentals are certainly not there and everyone buying is doing so out of speculation for things that have not happened, widespread adoption, ATMs. There is so much regulation and redtape to get through to go beyond gambling and drugs. People are simply buying and selling a commodity and not a currency.

The DDOS did not bring down MtGOX FFS it was the massive sell off that did it.

It is highly unlikely that the crash would have been that severe without MtGox eating shit.