Topic: Price Drop Cause? - page 2. (Read 1771 times)

Youy guys forget about who's actually participating in BTC exchange. Sure, there are many people who actually do some research and listen what is happening in the world about BTC. But in the end, the most "brokers" are just noobs. They have no idea of nothing. They get scammed, they act impulsive. If price drops, they will panic sell, if they think prive will rise, they will blatantly buy.

Now is christmas - many ppl are collecting their winnings. Price drops. Panic Selling, price drops even more, even more panic selling. This year is done, wait for after xmas.

And always remember WHO is participating (and therefore shaping) the market. There is no reason to use the same logic in BTC xchange like you would do on good old xchange.

It's typical that after a boom in prices, new inexperienced investors get on board, watch the price start tanking, and panic. The coins were simply way overpriced on hype and are returning to find their true value. There is always some bit of news you can try to pin it to, but the fact is it's the same process every single time.

I agree with what SaltySpitoon said, after 2 days we still cannot find anywhere a valid piece of official documentation.
Combine China FUD with the general slowness around Christmas (hey, bitcoin is trading 24/7!) and you have what we see now.
I don't think we will go much lower than this, we are at 17/11/13 levels where the buig spike started (1D chart)

New Chinese regulation prevents the Chinese people from buying BTC ... dropping large volumes ... probably because all the automatic trading bots have a loss order. Expected to go up but slow, so if you want to enter, this is the moment

seems to be going back up but wtf is going on???

lol.
How can I forget the x'mas present effect lol

FUD.  Lot's of different opinions here but it's obvious you're either a Bull or a Bear during moments like this though.  Can't wait to see how this unfolds and is probably the most exciting the charts have been in quite awhile.

very true. everyone sold their coins on the same day cuz they all just realized that they havent bought gifts yet XD

Hi,

I think the price drop is fordue to Christmas. People use the opportunity to be able to buy gifts.

Just wait for official announcement. Speculation about China situation just helps the fear and uncertainity.

I don't think we have reached the bottom yet.

1.Price dropped because the "money makers" simply do not like competition.
2. People are greedy fools and this makes them part of the problem.


Bitcoin in the future being made illegal is also something that can not be discounted as a possibility.


More on 1: bitcoin was suppose to be an alternative to the establishment and not some speculative instrument traded by bots to later...transfer it all back to fiat and make a quick buck from it at the expense of everyone else...not to mention...that as in fiat...also in bitcoin....few own the large majority of it.     

Hi I also am new, I just retired and hated using paper in business, was really hopeful when Kaiser & other HMOz started going paperless charting.
Somehow Bitcoin really makes sense 2 me.
I am a real Apple fan & wish Steve Jobs was still around, I think he would c the future benefit if it, 2 bad they removed it 4m the App Store .
I thought of mining but decided 2 wait until the price dips, really glad I did.
I really feel it's the future...
Glad 2 b a part if this 4ward thinking group!😊

I just sold my bitcoins I didn't want to take the risk. Got a decent price on them anyway at www.c-sale.tk thought it was a scam at the price they offered but maybe it's just a crappy businessman at the helm haha.

Well see thats the problem, if I knew, I'd be a multi millionaire. In my opinion, there are two likely outcomes

1) The rumors are debunked by someone who can actually verify what they are saying, and the price goes back up

2) The rumors are true, and the price drops even further

In my personal opinion, I think we are at a median point between holding and hoping for the price to go back up when we all find out this is an elaborate hoax, and getting ready to sell off before BTC drops back down to what it was before the Chinese rush.

The interesting thing with Bitcoin is that a lot of psychology and sociology principals apply to how the market is doing, but every so often all scientific logic is defied, and things just happen. I, like many others believe the Bitcoin price will be $1000+ in the medium to long term, so I'm strictly discussing my speculation on the value in the immediate future. Personally, I'm holding, because I haven't found enough evidence to convince me that what coindesk is reporting is true, and that people are getting caught up in hysteria. But, the hysteria would continue even if debunked until enough people knew to spread the news, so we could be in for a rough couple of days, even if BTC is still openly traded in China and set to rise.

If I didn't stress it enough, these are my own opinions, and I have been wrong in my speculation more than once in the past, so I'd advise looking for some info regarding the drop, think about the factors and the possible outcomes, and rationalize the senarios by your own logic. (Thats my way of saying don't hold me liable if you buy in now and lose money due to a drop, or buy in late and miss out)

The thing is, it will eventually go up again. And sometimes things move quite fast with Bitcoin. Only wait to buy if you're confident you will manage to get the purchase done before it rises back past the current price.

China of course. I wouldn't buy now though, guess the price will continue to go down

So I guess its a good time to buy some bitcoins.

The problem with the U.S. taxing us for our usage of BTC is that the whole goal was to decentralize the currency, correct me if I'm wrong. Plus, the mining difficulty has gone to shit, thus I have decided to move to LTC mining, and I would recommend you do the same.

Buy now, odds are a year from now you'll thank me.