So what are the real reasons bitcoin fell so low? - page 2.

Jeremy West spendbitcoins.com

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Quote from: Edward50 on November 17, 2011, 10:31:32 PM

Some months back I was very bearish and mostly everybody on the forums was very bullish. They swore that bitcoins would never go to $2.00, or even lower than $10 for that matter.

So here we are, bitcoin dropped below $2.00 today.

So what are the reasons that bitcoin dropped so much?

A better question is probably why did they go up so much. When I bought my first bitcoins a year ago for 24¢ each, I never dreamed they'd reach USD parity within a year.

I believe a few investors with deep pockets pumped money in to create a bubble and many of us saw the price rising so quickly that we panic bought. Then the investors got out quickly (drop from $32 to $17 was within about 24 hours if I recall correctly, BEFORE the Mt Gox hack).

Then the price has dropped steadily back to actual demand. Not sure whether we've arrived there yet or not. Only time will tell.

Crypt_Current

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Quote from: Jonathan Ryan Owens on November 18, 2011, 04:19:59 PM

Quote from: wobber on November 18, 2011, 04:19:07 PM

Quote from: marhjan on November 18, 2011, 04:03:29 PM

Quote from: Edward50 on November 17, 2011, 10:31:32 PM

So what are the reasons that bitcoin dropped so much?

It's rather simple actually. At the moment supply is outpacing demand for btc. That is THE real reason why any market rises and falls. Manipulation is a function of supply/demand, as are all trades. Don't overthink this, it's simple ;-)

I am curious to see if bitcoin supply will suffocate demand too much, making the never to recover.

If? Already happened, sir.

Maybe, but just because something is a certain way doesn't mean it will always be that way. Demand isn't a static thing.

Jonathan Ryan Owens

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Quote from: wobber on November 18, 2011, 04:19:07 PM

Quote from: marhjan on November 18, 2011, 04:03:29 PM

Quote from: Edward50 on November 17, 2011, 10:31:32 PM

So what are the reasons that bitcoin dropped so much?

It's rather simple actually. At the moment supply is outpacing demand for btc. That is THE real reason why any market rises and falls. Manipulation is a function of supply/demand, as are all trades. Don't overthink this, it's simple ;-)

I am curious to see if bitcoin supply will suffocate demand too much, making the never to recover.

If? Already happened, sir.

wobber

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Quote from: marhjan on November 18, 2011, 04:03:29 PM

Quote from: Edward50 on November 17, 2011, 10:31:32 PM

So what are the reasons that bitcoin dropped so much?

It's rather simple actually. At the moment supply is outpacing demand for btc. That is THE real reason why any market rises and falls. Manipulation is a function of supply/demand, as are all trades. Don't overthink this, it's simple ;-)

I am curious to see if bitcoin supply will suffocate demand too much, making the never to recover.

marhjan

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Poorer than I ought to be

Quote from: Edward50 on November 17, 2011, 10:31:32 PM

So what are the reasons that bitcoin dropped so much?

It's rather simple actually. At the moment supply is outpacing demand for btc. That is THE real reason why any market rises and falls. Manipulation is a function of supply/demand, as are all trades. Don't overthink this, it's simple ;-)

Cluster2k

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Quote from: adamstgBit on November 17, 2011, 10:52:31 PM

Quote from: bitcon on November 17, 2011, 10:46:07 PM

as a wise man once said... "suckers.. we need more suckers."

right...

We need Big questions answered

like, is bitcoin legal?

once these question can be answered, demand will go up. and a new speculative bubble will form and this time it will go higher then ever b4

Is bitcoin legal? AFAIK no country has declared it to be illegal. Even then, does it really matter? Online poker is illegal in the USA but thrives world wide. Alcohol is illegal in Saudi Arabia but it doesn't stop me enjoying wine in Australia.

Speculative bubbles rarely reinflate. What people hope and wish happens is usually different to what is a realistic proposition.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: tvbcof on November 17, 2011, 10:37:30 PM

Quote from: Edward50 on November 17, 2011, 10:31:32 PM

Some months back I was very bearish and mostly everybody on the forums was very bullish. They swore that bitcoins would never go to $2.00, or even lower than $10 for that matter.

So here we are, bitcoin dropped below $2.00 today.

So what are the reasons that bitcoin dropped so much?

I think it is totally because of your own personal shitty attitude. If it were not for Edward50, there is no doubt that we would be at or above $100/BTC. See what you've done? You've ruined the only hope we as a society have ever had or ever will have of breaking free from the shackles of the evil banking cartels. I hope you are happy.

Lets not forget Nagle!!!

bittenbob

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Quote from: adamstgBit on November 17, 2011, 10:52:31 PM

Quote from: bitcon on November 17, 2011, 10:46:07 PM

as a wise man once said... "suckers.. we need more suckers."

right...

We need Big questions answered

like, is bitcoin legal?

once these question can be answered, demand will go up. and a new speculative bubble will form and this time it will go higher then ever b4

Of course bitcoin is legal. Legal tender? Thats another question. Even if one country outlaws it will never be outlawed everywhere. If some country goes through the effort of making it illegal then it legitimizes it more than anything because it would be because they see it as a real alternative to their own fiat currency.

What we need is more investors and more people to buy and sell their services for bitcoins. We need to grow the bitcoin economy. An economists on here?

adamstgBit

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Quote from: bitcon on November 17, 2011, 10:46:07 PM

as a wise man once said... "suckers.. we need more suckers."

right...

We need Big questions answered

like, is bitcoin legal?

once these question can be answered, demand will go up. and a new speculative bubble will form and this time it will go higher then ever b4

bitcon

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as a wise man once said... "suckers.. we need more suckers."

Revalin

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165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g

Too many bears. I jest, but there are a good number of people who will say it with a straight face.

IMO: The fundamental need for coins very low and will not increase until it's in much more widespread use. Until then, high prices are based on speculative buying, and speculative bubbles pop. So here we are.

tvbcof

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Quote from: Edward50 on November 17, 2011, 10:31:32 PM

Some months back I was very bearish and mostly everybody on the forums was very bullish. They swore that bitcoins would never go to $2.00, or even lower than $10 for that matter.

So here we are, bitcoin dropped below $2.00 today.

So what are the reasons that bitcoin dropped so much?

I think it is totally because of your own personal shitty attitude. If it were not for Edward50, there is no doubt that we would be at or above $100/BTC. See what you've done? You've ruined the only hope we as a society have ever had or ever will have of breaking free from the shackles of the evil banking cartels. I hope you are happy.

Etlase2

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Because it was manipulation that got the price so high in the first place. Greed is the reason.

Edward50

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Some months back I was very bearish and mostly everybody on the forums was very bullish. They swore that bitcoins would never go to $2.00, or even lower than $10 for that matter.

So here we are, bitcoin dropped below $2.00 today.

So what are the reasons that bitcoin dropped so much?

Topic: So what are the real reasons bitcoin fell so low? - page 2. (Read 3998 times)