

Bitcoin is Crashing – Live Order Book - obilgic
http://bitcoin.clarkmoody.com/

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hkmurakami
Bitcoin was supposedly being used as an inflationary hedge, particularly in
the Euro region.

Today we got news of substantially depressed Chinese growth forecasts, which
caused the S&P 500 to drop more than 2% and Gold to fall close to 10%. (John
Paulson's funds lost more than $1BB today apparently, since he has $9.5BB in
Gold exposure in his hedge funds [1])

Given the anti-inflationary data (I hesitate to call it deflationary at this
stage) that came out today and the massive drop in Gold price, a similar fall
in Bitcoin price isn't particularly surprising.

[1] [http://www.bloomberg.com/news/2013-04-15/paulson-gold-bet-
lo...](http://www.bloomberg.com/news/2013-04-15/paulson-gold-bet-loses-
almost-1-billion-chart-of-day.html)

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alwillis
It's just a correction after the tremendous run-up last week, which isn't
totally unexpected.

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minimaxir
In the last 24 hours, Bitcoin price went from $90 to $64 (and decreasing as we
speak), which is about a 30% drop. The volume of transactions is about as high
as it was during the original crash last week.

This appears to be the "abandon ship" phase of Bitcoin. Or the system is being
manipulated, which is always possible.

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kiba
Good, we don't need people who jumped into bitcoin without understanding what
bitcoin is.

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BrokenPipe
More likely manipulated.

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al1x
more likely not. it's called a "correction".

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marshray
What a neat live graphic!

(You can probably tell I'm not much into finance that such a thing impresses
me.)

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InclinedPlane
So is Gold. A lot of people are getting a sharp lesson in economics today.

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anigbrowl
The gold bugs have been getting one since 2011, and a lot of them are still
buying on the dips. what can you do.

