Bitcoins price continues to edge downward without apparent reason. The market maker at Bitfinex appears to be the one forcing the price lower. Where will it stop? What are the motivations behind this? It seems a risky way to accumulate more coins. Literally groping for pennies in front of the proverbial steamroller. Sure..you can increase your pile of coins but what is the use if the price declines? Your stash will have perhaps less value in fiat at the end of the day the longer the price drops. Just seems like an ass backwards way of doing things.
Even the promising news of MtGox entering civil rehabilitation has not turned the market sufficiently imho.
Meanwhile, interest in bitcoin is declining at the institutional and sovereign levels. This is what concerns me the most. All the worlds a stage and bitcoin is front and center with many many interested parties. Literally trillions of dollars sitting on the sidelines trying to determine if this really is the next big thing. The continued shenanigans prevalent in this space are counter productive to say the least. Makes me wonder if this drop and the loss of billions in market capitalization was really over a $10k bet. If so, the increased audits, subpoenas and surveillance would be well earned.