Topic: Price Drop Cause? (Read 1771 times)

yes it drops because of china  not like I told you it is dropping because of christmas 

ooops? look at it! it is at 1k again - wohhoo? why is it? did china explode?  .. or was it just christmas as I said .. omg .. btc market is so predictable. please stop technical analysis of BTC because BTC market simply does NOT react to that but instead react on dumb peoples panic selling/buying and/or very obvious facts.

And now you can call me guru. "Mr. Guru" if you want

Everyone who has understood the fact I tried to tell you will have made a 100% percent gain in under 2 weeks without any effort and nearly no risk at all while laughing at idiots in various trollboxes :-)

Excuse my sarcasm - but it is important to understand how BTC market does work and that has nothing to do with stock exchanges or forex or whatsoever. it is just plain and simple psychology - at least at the moment.

You didn't get the point. Mining Equipment is pretty linked to BTC, so that is a bad example of real world usage 'cause errupters value rises with demand rises with BTC value.

In the end someone had to buy those erupters from a factory, paying electricity in fiat, paying employes in fiat, paying resources in fiat - so there has to be a stable BTC/Fiat relation - which is not the case. So, for not-directly-BTC-related products BTC is completely useless because the lifecycle of a product (production/distribution/sale) is an unpredictable period of time for BTC value. So there is no chance for any product without massive(!) profit-span to get created/sold solely at BTC level. (except short lifetime products or just in time deliveries - which both is rare)

I know, that most of the current BTC-"Fans" are not aware of this, because they may have no idea how product cycle actually works and what makes a currency valuable at all. A highly volatile currency will drop in price because noone (no merchant/manufacturer) is willed to use it. Simple as that. Do not believe me? Well then visit the next factory and ask if they will produce something for you in exchange of iPads. iPads have a distinct value, but the manufacturer just dont care, because he cannot pay his employes in iPads nor can he pay his bills in iPads. Get the point?

And as long as this problem is not solved for BTC or any other Crypto, no crypto will ever be successful in big scale thinkings.

I believe you could buy 20 USB Block errupters for 1 BTC few months ago when 1 BTC = 150. Surprisingly (for you) you coud buy 20 USB Block errupters for 1 BTC few weeks later when 1 BTC = 600.

If you make the whole supply chain in one currency, it really doesnt matter how much it is trading against another currency.

Bitcoin is meant for future worldwide use as one currency

everyone who panic sold recently or who panics at every bit of news that may or may not
be properly translated from china shouldnt be investing in btc anyway and if some lost money
its difficult to feel sorry  them since it was caused by their own greed
(ie: buying at 1200 - expecting to see 5000-10,000) and then panic  selling at  600 or 500 when it nosedived  )

That's BS - because Traders are not responsible for the stability of a currency. Merchants and Customers are. At least when considering BTC as a currency.

How Many Milk Bottles is 1 BTC? And how many Milk Bottles will it be tomorrow .. you see, nobody will sell you milkbottles when he does not know how much the exchange is worth just 24 hours later. And that's the point of stability.

With more traders and trading volume, Bitcoin will be more stable against another currency.

The price drop started DAYS before china did anything. .. china has no big influence .. why is it? right, because market is full of noobs, that's why, that's why the general normal xmax exchange dropped the price and thats why many people are panic selling now :-)

You can just consider this as some sort of correction .. each correction is HEAVY because BTC has no actual value. The actual value of BTC is the value it has BEFORE the bubble. The real value of BTC is directly connect to usage of it - and that was more or less stable before the bubble - used in "dark places" as a good currency to exchange illegal goods. Doesn't sound good? Sorry, but that's what it is. And THOSE markets will find another currency which will work better than BTC does NOW - because BTC - with this volatility - is pretty useless for everyone and will keep everyone from using it in terms of payment or good exchange.

But true - you can still buy ASICS with BTC .. and all those funny things directly related to BTC and gold mining fever .. but in the end, that does mean nothing and is just a bubble. Ride the bubble when it is time too and accept reality when bubble is gone.

PS: Doesn't mean, that BTC will drop to zero. Just means, accept that it will drop massivily. I expect that it will lose grip to the state it has 1-2 yrs before. This bubble drop will just eliminate many of the noob players which are responsible for the fast price rise (indirectly)

Bitcoin Drops 50% Overnight As China’s Biggest BTC Exchange Stops Deposits In Chinese Yuan

China’s biggest Bitcoin exchange, BTCChina, has stopped accepting deposits in Chinese yuan. The shutdown has sent the currency into a downward spin, stripping it of half its value overnight. It is trading at $572 on Mt.Gox, down from a high of about $1,200 last week.

I think the price will go lower short term.  It's partly because of China, and partly because it was simply overbought.  Use the opportunity to buy at a low price.

It looks like they are hovering around $550...? Could this be the stabilizing price??  50 ys ago i had quite a coin collection as a kid...any 1 have any idea where i can get an actual physical coin??? Peeking my numismatic interests.

All the talk about china has been bad for btc, we need some good news now

Means its time to buy....

Many traders do not end in profit. So those who does, deserve it for good predictions.

It's funny that you mention this.. a lot of things that were intended for a specific use aren't used for that specific purpose; take Viagra for example.

Not because of this, just buy if you think Bitcoin have higher value to you

It's all about what we think bitcoin is worth. My mind like 3 month ago, was that bitcoin will not go over 500 dollar mark but it did and went up way more that i thought was reasonable to me. But hey, soon enough it maybe will come up to that price range again. on the other hand is that the news about china and everything (cuse they sell and buy a lot of coins) got spooked about the government policy and went all bananaz.  (see the crasch of 1929) But news that demmark is allowing bitcoins and litecoin is a good news.

and the best part right now is just to buy in to bitcoin so that the price will go up  

http://imgur.com/VEQaSXp?desktop=1

They can try

Seems China might ban buying Bitcoins, so this Christmas I will be able to buy some new cheap Bitcoins.

Well, its good time to buy now... remember the silkroad panic?

Two words, X-mas and panic.