What caused the Bitcoin fall from 1k to 580$?

marcovaldo

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Activity: 350

Merit: 250

Quote from: Jeezy911 on February 22, 2014, 04:41:41 AM

-China tried to ban
-Russia did Ban
-Silk road BS
-Pending American Regulations
-Media Blitz on all the negatives
-Mt. Gox
-Market became the biggest scam spot in the world
-500 billion shitcoins released
-Network was reported as "broken"
-Every dumbass in the world now knows about it, still known as "internet money"

Maybe?

mt gox yes.

Sheldor333

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Activity: 406

Merit: 250

Quote from: Kiki112 on February 20, 2014, 03:24:06 PM

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Check Bitcoin Discussion section of the website, they will have most certainly have the best answers for you.

naphto

sr. member

Activity: 392

Merit: 250

sellers pressure

It is a free market

Jeezy911

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Activity: 294

Merit: 250

-China tried to ban
-Russia did Ban
-Silk road BS
-Pending American Regulations
-Media Blitz on all the negatives
-Mt. Gox
-Market became the biggest scam spot in the world
-500 billion shitcoins released
-Network was reported as "broken"
-Every dumbass in the world now knows about it, still known as "internet money"

Maybe?

MicroCC

member

Activity: 97

Merit: 10

If and when gox allows btc withdraws, expect to see a huge crash on all the major exchanges because those who bought gox btc at $95 will gladly sell at $300-600. That's assuming gox is even trading real btc Undecided

Putera

full member

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Merit: 105

Don't Be Stupid

Because people start trading BitGox >><< Bitcoin Huh

MicroCC

member

Activity: 97

Merit: 10

Some ppl sell to stop loss and rebuy at a lower price. They lose in fiat but it gives them a chance to increase their coinage

roger11

newbie

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Merit: 0

mtgox

Tc01017

newbie

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There are many reasons, but I would think that Mt. Gox withdrawal hold was one of the most important ones.

mikhael

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MtGox issue might be the culprit why bitcoin price continue to collapse.

MonkeyDOH

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Bitcoin is doomed actually , that's the reason @OP

MelodyRowell

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Mtgox..

Frisky

newbie

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A massive sell of BTCs

Kiki112

full member

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Merit: 101

Quote from: prihedap on February 21, 2014, 05:00:46 AM

Quote from: EdwinSebastian on February 20, 2014, 09:19:50 PM

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

let as consider reality reall world ther is demund for drugs and ther iz demund for bitcoin so why are you taking silk road bazaar out of the euation

he didn't..

he said without silk road btc is nothing which means he gave SR even greater value then other facts..

prihedap

newbie

Activity: 13

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Quote from: EdwinSebastian on February 20, 2014, 09:19:50 PM

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

let as consider reality reall world ther is demund for drugs and ther iz demund for bitcoin so why are you taking silk road bazaar out of the euation

DrHerbSmoker

newbie

Activity: 42

Merit: 0

Quote from: EdwinSebastian on February 20, 2014, 09:19:50 PM

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

silkroad is most certaintly a good portion of bitcoins use i agree with this statement

EdwinSebastian

newbie

Activity: 23

Merit: 0

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

chopstick

legendary

Activity: 992

Merit: 1000

We got goxxed hard. I've been watching bitcoin since early 2012. Getting goxxed is nothing new...they are like a cancerous tumor on the whole bitcoin community.

apsvinet

full member

Activity: 224

Merit: 101

Wasn't it basically the problems with MtGox that made people sell
huge amounts in panic with the first crash, therefore causing the
price to fall even more? Prices go up, prices go down, it'll probably
stay about this price for a bit and slowly start crawling back up.

evansearle42

sr. member

Activity: 366

Merit: 250

Early adopters are cashing out..

Topic: What caused the Bitcoin fall from 1k to 580$? (Read 2775 times)