Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Ah the day (2013-4-10) when BTC crashed from $266 to $105 (-60%) in 7 hours.
Then snapped back to $203 (+95%) in 2 hours.
Then took a slide back to $120 (-40%) in 17 hours, after which the trading in Mt.Gox was halted for 10 hours.
When the exchange opened at $130, it soon crashed to $65 (-50%) in 1 hour, after which it recovered to $130 (+100%) in 1 hour.
9 hours later we saw $54 (-60%). In 12 more hours it was already $130 (+150%) yet again.
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What am I teaching? That price does not matter. Number of bitcoins matters, and low prices are to be used for buying them, not selling.
Thank you
Then snapped back to $203 (+95%) in 2 hours.
Then took a slide back to $120 (-40%) in 17 hours, after which the trading in Mt.Gox was halted for 10 hours.
When the exchange opened at $130, it soon crashed to $65 (-50%) in 1 hour, after which it recovered to $130 (+100%) in 1 hour.
9 hours later we saw $54 (-60%). In 12 more hours it was already $130 (+150%) yet again.
**
What am I teaching? That price does not matter. Number of bitcoins matters, and low prices are to be used for buying them, not selling.
Thank you
What's the main purpose for Bitcoin?
Mean of monetary transaction?
I personally just don't see it happening in a long run.
This volatile madness will continue for a while.
Some will win, some lose.
But in the long run, +10 years, it's a no go.
Because it won't fit the sole main purpose.
Thank you