Topic: Why is the price dropping? - page 9. (Read 7937 times)

that's why too many people interested to invest in bitcoin and if bitcoin price stable i think investor not want to invest their money in bitcoin. so you must enjoy every moment when price up and price coming down.

Trend is up after long time! Don't worry at all.
Watch bitcoinwisdom, buy a beer and try to relax..

I guess because so many people have bitcoin bitcoin selling them at low prices so as to make the price of bitcoin be dropped quickly

The bitcoin is very unstable that's the problem of the bitcoin.
I think the unstable bitcoin turns into a bitcoin that will be very stable on a high amount.

In a perfect world Bitcoin would be easier to use, have a better reputation, replace banks, is risk-free to hold. It has achieved none of that and it's ok.

BUT -there comes a point when it has to be decided if it should be open to a mass market, meaning that it would be possible to use for millions of people IF they decided to use it. Bitcoin is not in a crisis but I think it has lost a bit of an opportunity to prepare for a much wider audience in allowing it to scale. If this could happen (and it should sooner rather than late imo) BTC price would shoot up to the sky in summer together with halving and the media hype that can be expected to go along with it. As it looks right now, however, all we can hope for is halving and I expect apart from (mass) psychological reasons an actual effect would not kick in before at least the end of 2016.

I don't know which way is technically feasible but doing nothing is not enough if you want BTC to be the future currency. Centralization is becoming a big issue particularly in respect on who gets to decide if BTC will only be for a small elite or a payment system for the masses. If fees become too high I see actual potential for alternative currencies to take BTC's job but I wouldn't hold my breath for "moon" prices in the near future.

My predictions:

A-Everything stays as is, BTC may stagnate, even go lower, but will slowly go up until the end of the year. Realistically, maybe to $600 by December, more upside in 2017.

B-Scalability will be solved in a way everyone can live with, a buy signal is sent to market, media hype will set in twice. Huge upside potential to ATH, maybe even 2-3k by the end of 2016.

So, no panic. But no revolutionary price increase for 2016 either.

Great post.

I'm long bitcoin and holding, the drops seem to be orchestrated to me as the price gets dumped in quick fashion and then somebody comes in a hoovers up all the panic-sold coins. It is clearly done to play on peoples fears after the recent events. If it were real panic then you would not see these big dumps, rather a slow and steady drip feed into the market.

I mean really, if you were a whale would you want to drive the price so low that you actually lose money?

Mike Hearn has nothing to do with the price. 

Not like there's have to be anything relevant for the price to move, but there could be several reasons why it's happening;

-Waters still stirred due to M.H (imho largely overrated)
-Russia's ban on bitcoin , enforced in the form of Russian ISP's blocking bitcoin related sites, exchanges and so on..
-Still uncertain stance of China in the case of bitcoin's legality (and since they're closely related to Russia, things could get ugly)
-EU Parliament held hearing on possible crypto currencies regulation

... more to come

What are these broken fundamentals and stagnated development you talk about? Really many of us don't understand all this mumbo jumbo. The only thing I see that Bitcoin hasn't done in all of its years of existence is to create an actual demand for it to be used. On top of that, usability is not its strongest point either...

How can you convince anyone to actual buy Bitcoin? Why? What for? Really that's the main issue, why the average Joe needs it?

No. I mean broken fundamentals and stagnated development can obviously cause value to drop, but fluctuations are normal and if you look at the price of BTC over a 12 month period, a much more logical explanation is that it hit a bubble where speculation drove the price up - either speculation on bitcoin continuing to go up or speculation that a fiat currency might be in trouble.

I suspect the latter, and the fiat currency I think some speculators thought might be in trouble is the Chinese Yuan.

I think the bubble that started a few months ago was caused by increased Chinese demand hedging against their currency, which of course drove the price up for everyone regardless of their currency.

I think the current fluctuations are the value trying to find the balance of where it should be.

I might be wrong but that's what I suspect.

Other than Hearn I haven't personally heard of anyone claiming they are dumping because of broken fundamentals or stagnated development, and Hearn has a conflicting interest.

I couldn't say better. I hope that someday puppets developpers will understand that what they're doing is killing Bitcoin's spirit and health...

I think its because of market trends.

A drop like this is usually a pretty good entry point if there is no indication of the price dropping lower.

You just saved yourself 10 usd for not buying just before the drop, lucky you!

Those stocks are starting to bounce so all the investors who were waiting for confirmation of the bottom will be buying back in. Those who sold high could be dumping Bitcoins to invest back into in stocks as they can now buy low. The money in stocks is so massive a small proportion of its investors dabbling in Bitcoin could swing the market.

Price of bitcoin has high volatility. And major market affects on it. We can see for past examples, when market is boom price of bitcoin goes up and when market collapse it goes down.

Since from origin of bitcoin it gains tremendous value in 2013 it was at $1150. But later on it start to use globally for trading. And reach to $230. Again it booms to $500 and now its at $400.

previously 88 times it was announced that bitcoin is die. And Marks statement is 89th.

possibly because people are getting in on some good stock deals, lots are down 10-20% even from just a few months ago, netflix, FB, F, etc

come on $10, is not something that i would call a drop, you are aware about the definition of swings?

a drop is more like 30% of the value, not even 10% is a drop for me

I think this will be the lowest point of the year, and we can even continue for a couple more months even. Then the price will start to rise, we'll definitely close the year around $500-600 if not more. Every year seems the same with Bitcoin, there are a lot of pumps, dumps and bumps hehe but at the end Bitcoin always grow compared the previous year, that's all we need to know. Just buy when you feel you have a good window and hold, Bitcoin it's still only a long term investment.

Do you question and wonder what is going on when we rise $10-$20? It is forever doing it. There is no news that I am aware of that is to blame for this recent couple of dollar drop. I don't actually don't care either. I will be waiting to buy more as I don't think this is the time currently.

AFAIK there isn't any thing going at the moment that affected this dump so most likely just sellers of BTCitcoin behind this as it's still within the range of normal inflation rate (10 to 15%) since it has been 16% difference for today from highest to lowest, so nothing to panic about and this could continue (the up and down of BTCitcoin worth) for the next 2 weeks before it settles in a smaller range of inflation.