There were a lot of coins out there that wanted to move on to these exchanges, but they wernt moving as fast as the chinese were buying. This caused liquidity problems which sent the price higher than would otherwise have been achieved if all of the coins that wanted to move onto the exchanges could have moved onto the exchanges more quickly. after a period of time balance between buyers and sellers was restored and that is where we are now. a more realistic price that reflects real supply and demand rather than an inblance in the time that it takes to buy off an exchange vs get coins onto an exchange.
of course this is just speculation, but i think its a pretty good guess since at one point btc china was as low as 2000 btc in liquidity.
Topic: Whats happening to BTC ? (Read 4276 times)
I hate FUD being spread so I must point out that the giant panda (the big black and white thing typically associated with China) most definitely IS a bear.
Ohhh SHIT! *spills coffeee* logs onto Gox, can't even remember password... finally gets on... market SELL!!!!
Actually, I think we've found the bottom.
From the San Diego Zoo website:
Quote
The Chinese call their beloved pandas "large bear-cats." - See more at: http://animals.sandiegozoo.org/animals/giant-panda#sthash.fn2DJPnB.dpuf
Large Bear-Cats!? That does not really clear up this issue.
Nothing happen, just profit taking....
It's going to go somewhat lower than the current price we see at this moment. A plateau will ensure and shortly after, the decline.
As for the week, I believe it's going to be quite interesting what happens. However, for now, the forecast is a downtrend.
Seconded.As for the week, I believe it's going to be quite interesting what happens. However, for now, the forecast is a downtrend.
People who look at the 1m chart aren't going go buy more because it shouts "bubble pop in progress".
Even the mkst bullish charter won't be able to find a uptrend now.
I guess people who bought anywhere higher than 200 must start feeling that their profit is at risk, and a sharp drop could even eat in their principal.
So it's an understatement to say that buy pressure is shrinking and sell pressure building.
It may not drop to pre-bubble levels though since many of us can't care less what the price is and won't sell their coins no matter what. But drop deeper it will.
I hate FUD being spread so I must point out that the giant panda (the big black and white thing typically associated with China) most definitely IS a bear.
Ohhh SHIT! *spills coffeee* logs onto Gox, can't even remember password... finally gets on... market SELL!!!!
Actually, I think we've found the bottom.
OMG, I have been misled
pandas ARE bears
SELL SELL SELL!!!!
pandas ARE bears
SELL SELL SELL!!!!
It has been pointed out before that pandas are not actually bears
I hate FUD being spread so I must point out that the giant panda (the big black and white thing typically associated with China) most definitely IS a bear.
Not to be confused with the red panda which isn't a bear.
You have angered the China by making too many new threads in speculation. The China is punishing you for your lack of discipline!
I find it interesting that your thread is about "Why it went down?" instead of "Why it went up?"
Bitcoin is at over $300 if you haven't noticed, this is huge.
Bitcoin is at over $300 if you haven't noticed, this is huge.
When there are not enough people spending hoarding BTC the exchange rate goes down.
Fixed for you.
Bitcoin is like a stock and we're the company so we can support it's share price (value) by making successful business with it.
A company is typically not paid in its own stock as payment for services provided.
Currency != stock.
It has been pointed out before that pandas are not actually bears
pandas are coins:
It has been pointed out before that pandas are not actually bears
coincidence?
??
coincidence?
???
Quote
The panda (Ailuropoda melanoleuca, lit. "black and white cat-foot"),[2] also known as the giant panda to distinguish it from the unrelated red panda, is a bear[3] native to south central China.[1] It is easily recognized by the large, distinctive black patches around its eyes, over the ears, and across its round body.
Hi guys. Whats is lowering the BTC price ? 
maybe the china ?
maybe the china ?Maybe the China!
It has been pointed out before that pandas are not actually bears
coincidence???
coincidence?
??Implying that pandas are bulls.
Must be tough to fit those horns into the panda suits.
It has been pointed out before that pandas are not actually bears
coincidence???
coincidence?
?? When there are not enough people spending hoarding BTC the exchange rate goes down.
Fixed for you.
Bitcoin is like a stock and we're the company so we can support it's share price (value) by making successful business with it.
Hi guys. Whats is lowering the BTC price ? maybe the china ?
maybe the china ?Yes and no.
#1: We've had an epic growth period, time for a correction/consolidation.
#2: This is a weekend, market is less bullish on weekends.
- Because people are doing other things
- Because banks are closed, not processing transactions - no more fiat coming in to buy, but BTC can still be easily sold = sell pressure
#3: This is a long weekend, meaning at least in the US, people will have to wait until Tuesday before banks start processing deposits/wires.
So, I think these factors combine quite nicley to explain this drop. The fact that we're still ~ 300 is actually probably a good sign, as it appears to be more of a correction than crash.
If we resume the upward trend next week, it will considerably increase my confidence of the current price levels. I, for one, while sad BTC is not $50,000 at hte moment, am happy to see the end of the exponential price gains - it makes this much more realistic and sustainable. We shall see what happens next.
Thanks. I agree with you!
ahhhh this brings back fond memories....It's funny, before the April high, I was preaching bitcoin like no other, people were basically like STFU you're an idiot. Then at 100, 200, etc I stopped preaching it. Then about 250 they want to buy, I'm like yeeaaaaahhhhh.... unless your looking to hold long term I wouldn't advise it. I don't think this price is sustainable. Nope. They had to buy, so I showed them how the NEXT DAMN DAY we crash lmao. Just epic timing. Guess who's fault that is? Well, I'm like... "hey, do not sell. Especially do not sell into MtGox lag. Hold. If you sell now you're going to get fucked by not only panic selling but also the fact you have no idea what price your order will fill at. At least don't do a market order my god!!!! You have not lost until you sell. It will recover in 3-8 months. JUST WAIT." Nope, they had to have that money for survival and thus had to sell. Sold at like 80.
Guess who's fault that is? Mine of course. *Mumbling*
The same scenario came to pass this time, Back when it was 100-200 I was say, hey, buy BTC for long term hold. "No, that crashed" Now that it was hauling ass they wanted in. This time I'm like figure that shit out yourself. Fuck it. Not recommending anyone I know do anything anymore.
Got to love people! But I do love bitcoin and this community! lol
Guess who's fault that is? Mine of course. *Mumbling*
The same scenario came to pass this time, Back when it was 100-200 I was say, hey, buy BTC for long term hold. "No, that crashed" Now that it was hauling ass they wanted in. This time I'm like figure that shit out yourself. Fuck it. Not recommending anyone I know do anything anymore.
Got to love people! But I do love bitcoin and this community! lol
When there are not enough people spending hoarding BTC the exchange rate goes down.
Fixed for you.
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