well its still looking like a disaster out there. No solid bounce.
I'm wondering what were the reasons for the bottoming period in 2014/15. I always thought it might of been that the mining costs at the time made a floor at that price, but I never looked into it. Does anyone know if the mining price was around the 200 level in 2014/15?
Bitstamp getting hacked caused the $150 bottom in 2015. At that time it was the biggest exchange.
I don't mean the specific bottom, I mean the time when it was moving between 200-300, what kept it falling further? was it just no more sellers, the miners stopped selling, or more buyers coming into the market?
It was between $200 and $300 for more than 8 months, and the bearwhales could not get the price to go down further... After NOT being able to get the price to go down more, for so long, there was only on direction left, correct?
Sure, but I'm curious on a few things, specifically the price rallies during that time and lack of flat movement. The lack of movement (flat periods) may of been there, I just can't remember, but we are certainly not getting many rallies. There was a big one after it hit 150 and the price, then down to 220 area then up to 300 then back down to 220, then back to 300 then back to 200, then the rest is history.
It seems to me that there was the volume and maybe a few new entrants back then to do it, my concern is that I'm not seeing that right now, I guess we could just be too early in the cycle.
Of course, you can zoom in on some historical bitcoin charts to attempt to study the BTC price movement dynamics for that time period.
Here are 10 days in July 2015.
https://bitcoincharts.com/charts/bitstampUSD#rg60zig2-hourzczsg2015-07-08zeg2015-07-17ztgMzm1g10zm2g25zvI recall specifically that there were several attempts to drive BTC's price below $200, and only a couple of them were successful, even though there were more attempts.
Yes, when you are going through it, you consider that it is going to recover, and of course, volume of the time is going to be different from volume of this time, but you can still study the charts and attempt to extrapolate reasonable comparison conclusions.
One interesting thing about that period is that it took longer to get down into the $200s, but once it dropped into the $200's it largely stayed there for more than 8 months. So, BTC breached below $200 early in the year.. and only rose above $300 once, until late October / early November 2015 when the price shot up to $500.. and it was pretty much all over at that point, even though many of us likely did not realize such until late May 2016 when BTC broke above $500 again.
are we flying further down to 4k? 
(and maybe more reasonably consider it as a team rather than a real peep.... 
). 
