Quote from: dimka on December 18, 2013, 06:25:31 AM

Salty, your a veteran and a moderator, is this price drop good or bad, and what aesthetic chances of me getting a profit off buying right now?

Well see thats the problem, if I knew, I'd be a multi millionaire. In my opinion, there are two likely outcomes

1) The rumors are debunked by someone who can actually verify what they are saying, and the price goes back up

2) The rumors are true, and the price drops even further

In my personal opinion, I think we are at a median point between holding and hoping for the price to go back up when we all find out this is an elaborate hoax, and getting ready to sell off before BTC drops back down to what it was before the Chinese rush.

The interesting thing with Bitcoin is that a lot of psychology and sociology principals apply to how the market is doing, but every so often all scientific logic is defied, and things just happen. I, like many others believe the Bitcoin price will be $1000+ in the medium to long term, so I'm strictly discussing my speculation on the value in the immediate future. Personally, I'm holding, because I haven't found enough evidence to convince me that what coindesk is reporting is true, and that people are getting caught up in hysteria. But, the hysteria would continue even if debunked until enough people knew to spread the news, so we could be in for a rough couple of days, even if BTC is still openly traded in China and set to rise.

If I didn't stress it enough, these are my own opinions, and I have been wrong in my speculation more than once in the past, so I'd advise looking for some info regarding the drop, think about the factors and the possible outcomes, and rationalize the senarios by your own logic. (Thats my way of saying don't hold me liable if you buy in now and lose money due to a drop, or buy in late and miss out)