Dafuq is happening with btc price | Bitcointalksearch.org

CoinsCoinsEverywhere

hero member

Activity: 532

Merit: 500

Quote from: crazyearner on July 27, 2014, 11:28:26 AM

Quote from: ajareselde on July 26, 2014, 04:00:06 PM

You cant judge bitcoin like some stock that realy has calculatable value behind it.
Bitcoin is speculative guess at best, since there is nothing backing it up.

The reasong why its so volatile, and currently experiencing another dip, is by my opinion mass of investors that went in on bitcoin expecting very fast progress that didn't happen, and they are currently leaving the market, worrying that they will have further losses.

Sure you can depending on where your trading and give a good indication on where things are at currently and seeing some big dips and if you follow all the new around Bitcoin you will find your answers within news and current trades going on all over the place. Theirs some big ish walls to get past $590 area however I see a down trend and it will continue unless some big players decided on hopping on having said that dell now accept Bitcoin but they not really doing that much in terms of buying selling or people buying their products.

At this point, I think that adoption is only going to have much effect in the longer term. If I buy some BTC so I can spend it right away on Dell's website, what I'm doing is effectively price neutral. And if you have people that already have BTC from the early days or mining, when they spend at merchants, the merchants will likely trade in their BTC for fiat, and you end up with downward pressure on the price. For the price to go up, we need investors.

thrax

sr. member

Activity: 253

Merit: 252

Quote from: crazyearner on July 27, 2014, 04:35:42 PM

Quote from: thrax on July 27, 2014, 04:22:54 PM

Quote from: halfawake on July 27, 2014, 03:11:15 PM

Quote from: swecrypt on July 24, 2014, 02:10:55 PM

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately. But this explanation makes a lot of sense to me, I'd wager this is what's going on. Just wish I had bought now instead of several weeks ago when it was $650. Oh well, I'm still confident that it'll go up again - eventually.

This makes sense to me because I was considering selling some of my investments to go on vacation myself

Go right ahead and sell then ill buy them up xD Sell later n go on bigger longer vacation or go in Dec for Christmas

Unfortunately, I decided not to have a holiday because they are usually shit anyway. I'm sure you will find plenty of sellers though, judging by the way the price is falling.

crazyearner

legendary

Activity: 1820

Merit: 1001

Quote from: thrax on July 27, 2014, 04:22:54 PM

Quote from: halfawake on July 27, 2014, 03:11:15 PM

Quote from: swecrypt on July 24, 2014, 02:10:55 PM

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately. But this explanation makes a lot of sense to me, I'd wager this is what's going on. Just wish I had bought now instead of several weeks ago when it was $650. Oh well, I'm still confident that it'll go up again - eventually.

This makes sense to me because I was considering selling some of my investments to go on vacation myself

Go right ahead and sell then ill buy them up xD Sell later n go on bigger longer vacation or go in Dec for Christmas

thrax

sr. member

Activity: 253

Merit: 252

Quote from: halfawake on July 27, 2014, 03:11:15 PM

Quote from: swecrypt on July 24, 2014, 02:10:55 PM

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately. But this explanation makes a lot of sense to me, I'd wager this is what's going on. Just wish I had bought now instead of several weeks ago when it was $650. Oh well, I'm still confident that it'll go up again - eventually.

This makes sense to me because I was considering selling some of my investments to go on vacation myself

halfawake

hero member

Activity: 490

Merit: 500

Quote from: swecrypt on July 24, 2014, 02:10:55 PM

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately. But this explanation makes a lot of sense to me, I'd wager this is what's going on. Just wish I had bought now instead of several weeks ago when it was $650. Oh well, I'm still confident that it'll go up again - eventually.

crazyearner

legendary

Activity: 1820

Merit: 1001

Quote from: ajareselde on July 26, 2014, 04:00:06 PM

You cant judge bitcoin like some stock that realy has calculatable value behind it.
Bitcoin is speculative guess at best, since there is nothing backing it up.

The reasong why its so volatile, and currently experiencing another dip, is by my opinion mass of investors that went in on bitcoin expecting very fast progress that didn't happen, and they are currently leaving the market, worrying that they will have further losses.

Sure you can depending on where your trading and give a good indication on where things are at currently and seeing some big dips and if you follow all the new around Bitcoin you will find your answers within news and current trades going on all over the place. Theirs some big ish walls to get past $590 area however I see a down trend and it will continue unless some big players decided on hopping on having said that dell now accept Bitcoin but they not really doing that much in terms of buying selling or people buying their products.

CoinsCoinsEverywhere

hero member

Activity: 532

Merit: 500

Quote from: ajareselde on July 26, 2014, 04:00:06 PM

You cant judge bitcoin like some stock that realy has calculatable value behind it.
Bitcoin is speculative guess at best, since there is nothing backing it up.

The reasong why its so volatile, and currently experiencing another dip, is by my opinion mass of investors that went in on bitcoin expecting very fast progress that didnt happen, and they are currently leaving the market, worrying that they will have further losses.

That's quite possible. There are probably some investors who are doing that. However, in my experience with auction markets like bitcoin, I would expect price to drop more violently if there were a bunch of investors dumping their coins. My guess is that a slow bleed like this is more indicative of miners selling off what they're mining to make ROI.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

You cant judge bitcoin like some stock that realy has calculatable value behind it.
Bitcoin is speculative guess at best, since there is nothing backing it up.

The reasong why its so volatile, and currently experiencing another dip, is by my opinion mass of investors that went in on bitcoin expecting very fast progress that didnt happen, and they are currently leaving the market, worrying that they will have further losses.

CoinsCoinsEverywhere

hero member

Activity: 532

Merit: 500

Quote from: crazyearner on July 25, 2014, 07:24:08 PM

Quote from: bananaControl on July 24, 2014, 03:17:42 PM

Quote from: crazyearner on July 24, 2014, 02:59:45 PM

Expect a big price drop. Already predicited months back where coin is going to go. Was at $600s to $680s then down to mid $630s to $650 areas Now market is where I said it would be at $600s to $580s.

Next week to 2 weeks prices will be at $550s to $440 area dont believe me watch the markets already sloley happening as bigger numbers in smaller trades over time are increasing in BTC vols increasing and other coins being bought up. end of weekend LTC will get back into the $10s and $12 area so if you want to goon ltc markets id be moving stuff over their for now and enjoy some price increases on a lot of the other alt coins including one of the newest ones BitcoinDark and Curecoin. and a few others.

So it will soon be a good time to buy?

Its good time to buy now and ride the waves of $10 swings and more but have to wait $600 is about the high atm give or take a few dolla in-between but expected to drop still before it goes back up

Technical analysis would suggest that we'll see $550 before $600 really holds again. But, IMO, the price has been amazingly resilient since it broke below $600. I expected a quick drop to $550. At least on bitstamp, there's a really nice buy wall at $590 that's holding things up. So I'm slowly becoming more hopeful that we'll start going back up soon.

crazyearner

legendary

Activity: 1820

Merit: 1001

Quote from: bananaControl on July 24, 2014, 03:17:42 PM

Quote from: crazyearner on July 24, 2014, 02:59:45 PM

Expect a big price drop. Already predicited months back where coin is going to go. Was at $600s to $680s then down to mid $630s to $650 areas Now market is where I said it would be at $600s to $580s.

Next week to 2 weeks prices will be at $550s to $440 area dont believe me watch the markets already sloley happening as bigger numbers in smaller trades over time are increasing in BTC vols increasing and other coins being bought up. end of weekend LTC will get back into the $10s and $12 area so if you want to goon ltc markets id be moving stuff over their for now and enjoy some price increases on a lot of the other alt coins including one of the newest ones BitcoinDark and Curecoin. and a few others.

So it will soon be a good time to buy?

Its good time to buy now and ride the waves of $10 swings and more but have to wait $600 is about the high atm give or take a few dolla in-between but expected to drop still before it goes back up

vuduchyld

sr. member

Activity: 364

Merit: 250

Quote from: Benjig on July 25, 2014, 04:11:09 PM

Quote from: vuduchyld on July 25, 2014, 12:14:05 PM

Quote from: swecrypt on July 24, 2014, 03:36:31 PM

Quote from: vuduchyld on July 24, 2014, 03:13:31 PM

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.

I have all my savings in BTC. Of course. I'm not and idiot.
Are you american? (and still a strong believer in your monopoly toy money?)

I have a well I diversified portfolio (including some bitcoin). I am not overexposed to any particular risks. I sleep very, very soundly at night.

Yeah even in bitcoin people should diversify between bitcoin and most important alts, i mean 2-3 alts.

Well, I am not sure that would meet the standards of classic portfolio diversification, but again, if you haven't had time to accumulate enough assets to bother diversifying...to each his or her own.

Diversification would certainly dilute massive gains in any one area, but it helps me sleep well.

Benjig

sr. member

Activity: 462

Merit: 250

Quote from: vuduchyld on July 25, 2014, 12:14:05 PM

Quote from: swecrypt on July 24, 2014, 03:36:31 PM

Quote from: vuduchyld on July 24, 2014, 03:13:31 PM

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.

I have all my savings in BTC. Of course. I'm not and idiot.
Are you american? (and still a strong believer in your monopoly toy money?)

I have a well I diversified portfolio (including some bitcoin). I am not overexposed to any particular risks. I sleep very, very soundly at night.

Yeah even in bitcoin people should diversify between bitcoin and most important alts, i mean 2-3 alts.

vuduchyld

sr. member

Activity: 364

Merit: 250

Quote from: swecrypt on July 24, 2014, 03:36:31 PM

Quote from: vuduchyld on July 24, 2014, 03:13:31 PM

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.

I have all my savings in BTC. Of course. I'm not and idiot.
Are you american? (and still a strong believer in your monopoly toy money?)

I have a well I diversified portfolio (including some bitcoin). I am not overexposed to any particular risks. I sleep very, very soundly at night.

CoinsCoinsEverywhere

hero member

Activity: 532

Merit: 500

Quote from: mikerbiker6 on July 25, 2014, 10:02:06 AM

@coinscoinseverywhere: I will hold to a new ATH or to zero, no problem in losing my investment. It is not very much(to me).

If you can lose it all without it keeping you up at night, then that's perfect. It's a lot easier to make good decisions when you're not being controlled by fear.

mikerbiker6

sr. member

Activity: 392

Merit: 250

@coinscoinseverywhere: I will hold to a new ATH or to zero, no problem in losing my investment. It is not very much(to me).

CoinsCoinsEverywhere

hero member

Activity: 532

Merit: 500

Quote from: Tony Abbot on July 25, 2014, 02:35:39 AM

Yay for me, long time listener, first time caller. . I've been reading this forum for a long time now and I am long on BTC and have invested a signifiant proportion of my limited wealth. I'm currently torn as to weather to invest the lot and sell bits and pieces when I need cash. This would ensure that I'm well placed for the "moon" but hopefully can quickly change my position if things look seriously grim.

Well, it's your call, of course, but as with any risky investment, make sure you don't invest more than you can lose. Markets are forward-looking, so if it were a guarantee that the price of bitcoin were going to be thousands of dollars or more, it would already be there. And also consider how you would feel if the price starts dropping significantly. Make sure you have the stomach to handle it if you have all of your wealth invested and the price drops $200. And be sure you don't fall into the trap of thinking that you'll just sell if it drops $100. Emotions start to kick in and you start to hope it will recover instead of being willing to admit that you were wrong and take a loss.

Tzupy

legendary

Activity: 2170

Merit: 1094

Quote from: btcxyzzz on July 25, 2014, 05:46:11 AM

Quote from: wobber on July 24, 2014, 11:36:37 AM

The Silk Road and MtGox events are very important milestones in Bitcoin's history and personally I do hope that both Mark Karpeles and Ross William Ulbricht face at least 20+ years of jail time for their deeds. Their 'businesses' had good parts also and if we were in an ideal world, I would oppose jail time and put their asses to hard work, but since this is not possible, jail it is.

Karpeles yes, Ross fuckin' NO! He just made a market anyone is free to trade anything they want! You're blinded.

IMO both should do time, for criminal negligence... Wink

As for what is happening with the price, nothing special yet, wait until we test support at 540$ again.

mikerbiker6

sr. member

Activity: 392

Merit: 250

I am buying in little bits of coin every time people 'bail out'. let's wait and see this through.

btcxyzzz

legendary

Activity: 888

Merit: 1000

Monero - secure, private and untraceable currency.

Quote from: wobber on July 24, 2014, 11:36:37 AM

The Silk Road and MtGox events are very important milestones in Bitcoin's history and personally I do hope that both Mark Karpeles and Ross William Ulbricht face at least 20+ years of jail time for their deeds. Their 'businesses' had good parts also and if we were in an ideal world, I would oppose jail time and put their asses to hard work, but since this is not possible, jail it is.

Karpeles yes, Ross fuckin' NO! He just made a market anyone is free to trade anything they want! You're blinded.

giveBTCpls

sr. member

Activity: 322

Merit: 250

People is impatient and they are butthurt they missed on the Bitcoin boat, so they are impatient to get massive gains and if it doesnt happen quick they will just keep panic selling. Once weak hands are shaken it's showtime.

Topic: Dafuq is happening with btc price (Read 5903 times)