Topic: Dafuq is happening with btc price - page 2. (Read 5903 times)

I don't do either, I just add 10 per month to my collection. I will have 100 by december as long as the rate doesn't shoot over 600 by too much.

If it drops to 450 all the better, I'm in it for the long haul and that'd mean I collect 13.3 per month.

(I've earmarked approx $6000 per month for my bitcoin investment fund)

The first 100 I bought were at $7, sold them all off early for little profit. Bought back in at $80-120ish, sold off at $1000 or thereabouts, now trying to get back to 100, then I'm gonna HODL for 5 years.

This time around the first 20 I bought at $450 so I'm fine with it dropping back to 450 again. Means I'd get to 100 sooner.

Neber panic buy or panic sell, wait first atleast a 12 hours or a day to make trades, since price is much harder to be manipulated in longer terms.
Regarding to the price falling, it was expected to happen, since there is no real reason to go up, and crypto in general doesnt seam to like stability, so it either goes up or down, its rarely stabile at any given price.

Yes why don't you sell. I'm not selling it's not my position.

cut lose now or cut lose at $4xx

Whales are rocking the boat since price has been stationary too long. Shaking out all the weak hands

I think I can explain what's happening with the price.

Some over-greedy people with low IQ moved almost all of their coins to places called MtGox and SilkRoad, where they could speculate freely and buy illegal stuff. Doing that, they ignored and defeated the most important part of bitcoin: decentralization and put into the hands of a few entities hundreds of thousands of coins (Mark, USMS etc)

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.

Their actions brought immense bad news over Bitcoin as a whole and stopped much of the adoption phase. We have also the 'speculators', which buy and sell bitcoins only for fiat profit (never ever forget that, it's all about $) - they help a lot to crash the price, which in turn brings bad bad news. There is a small fraction of speculators which try to make their BTC holdings bigger, but that's another matter.

While I do not wish for it to happen, because too many people would suffer, a global financial crysis would put Bitcoin right next to gold and silver and potentially make it a New World Currency. But that would be a forced adoption in my opinion and I'm pretty sure we'll see lots of tears from the people that heard, used, speculated, mined or stolen bitcoin and never understood what's it's purpose. I'm sure that each one of us will regret of having even 1 BTC and not putting it to storage for a long time.

2-3% price movement is nothing out of ordinary.

Oh, be careful what you wish for.  You just might get it.

If we can't hold the $600 level, it will likely get quite exciting.

There are a whole lot of places in the world that aren't the US.

The price is really boring these days. Hovering around the 600-700 mark and just slowly falling. I want some excitement!

Hasn't the bitcoin price gone up every year recently?  What did it start at this year (I could look it up but I'm being lazy).  In any case we only have a few more months and there should be another explosion up in price, unless we have hit saturation of the market for now.  I mean what else could happen in the US that would increase the price?  US Gov. "endorses" Bitcoin?

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?)

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.

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.

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.