What caused the Bitcoin fall from 1k to 580$? - page 2.

DannyHamilton

legendary

Activity: 3472

Merit: 4801

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

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Take your pick:

Charlie Shrem arrested
Silk Road 2.0 hacked
Various countries putting into place various restrictions and declarations about bitcoin
Florida arrest of 2 individuals selling bitcoins on localbitcoins.com
Transaction Malleability concerns
MtGox halting all withdrawals for an extended period of time
General anxiety among people who were hoping for a faster increase in exchange rate
Panic among those that exchanged money they couldn't afford to risk

I'm sure there are others I'm missing. It'll all blow over eventually. I won't be surprised to see exchange rates as high as $2000 per bitcoin before the end of 2014. (of course, I also won't be surprised to see exchange rates as low as $10 per bitcoin before the end of 2014 either).

Wendigo

legendary

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No Chinese involved any more eh Cheesy

Bitcoin_Mafia

member

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debianlinux

full member

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Merit: 100

Because change was necessary and good but the transition is going to be a little bumpy. mtgox was a hinderance. Ridding our community of this hinderance creates a vacuum in transition. Ultimately our market will flourish where it previously could not. This is all good news for those who aren't preoccupied with the near term state of things.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Awww. I was gona say Illuminati. Cheesy

My theory. Mr. unsophisticated investor, meet Mr. unregulated market.

DrHerbSmoker

newbie

Activity: 42

Merit: 0

the price will goback up wwith more positive media. think about all the negatives that have been going on. to me that just shows how strong bitcoin is overall

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Mostly panic selling/sell now and buy later at a cheaper price

Kiki112

full member

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Quote from: BitCoinDream on February 20, 2014, 04:09:10 PM

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

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Some people wanted to book profit. So sold. Bear run. Dont worry. 10k USD by 2015 end

I sure hope so

BitCoinDream

legendary

Activity: 2394

Merit: 1216

The revolution will be digital

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

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Some people wanted to book profit. So sold. Bear run. Dont worry. 10k USD by 2015 end

Kiki112

full member

Activity: 196

Merit: 101

that's what I thought and that's too bad Undecided

I thought Bitstamp would remained unaffected by the MtGox malfunction Sad

hilariousandco

global moderator

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Join the world-leading crypto sportsbook NOW!

Panic sellers, essentially.

CanadaBitcoinCorp

newbie

Activity: 5

Merit: 0

The major reason right now is because the MtGox exchange seems to be having a number of difficulties across the board (usage, communication, management, and more!) and as a result is bringing other exchanges down as confidence slips a little and the price along with it. Dealing with them is almost akin to gambling, and people are basically betting (or not betting) if MtGox is solvent or insolvent (and their price per BTC is somewhere around $150). This is a pretty simple explanation, but there are a lot of other discussions going on which you can check out.

Kiki112

full member

Activity: 196

Merit: 101

Quote from: thephill97 on February 20, 2014, 03:24:32 PM

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

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Are you under a rock? Must be one heck of a rock.

dude, this is why I posted it in the Beginners&Help section Cheesy

thephill97

member

Activity: 70

Merit: 10

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

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Are you under a rock? Must be one heck of a rock.

Kiki112

full member

Activity: 196

Merit: 101

The title is mostly self explanatory Cheesy

Don't say Illuminati Cheesy

Topic: What caused the Bitcoin fall from 1k to 580$? - page 2. (Read 2775 times)