Post
Topic
Board Speculation
Re: Bitcoin ready for a correction
by
darkmule
on 08/12/2013, 11:33:32 UTC
Regarding the cause of the downtrend, I believe the news from China is just an excuse or a small trigger.

Very agreed on that, and in fact sold before the China news.  I thought the event was overdue, and while the China news could have set off what was already going to happen, I really think its effect is exaggerated.  Correlation doesn't equal causation, and while there is some tenuous causal connection between the two events, it really just affected the timing.

I think it's probably going to go further down as well, but bought back in anyway because I don't like cutting things close.  I'd rather sacrifice some (potential) profit to avoid risk (and so that I can sleep at night again while the ticker goes berserk instead of waking up like a lunatic to stare at my phone for updates every 10 minutes).