Why is the price dropping?

[gadsie]

Is there something big going on? I'm asking because if it's just a hype thing (like the Mike Hearn thing) this would be a good time to buy. Otherwise I don't know

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[richardsNY]

These drops are normal and happen quite often lately. Don't pay too much attention to them. If you want to buy yourself some Bitcoins then right now is a good moment. Tomorrow or the day after that the price will go back to around $400 again.

[bargainbin]

These drops are normal and happen quite often lately. Don't pay too much attention to them.

+1. Price falling pretty much all the time now. Just ignore it and hodl.

[kwukduck]

I'll say it once more...
Broken fundamentals and stagnated development.

Broken fundamentals aren't bad if there are people willing to resolve it.
Right now that last part is totally missing within the whole of the bit coin community.


Sure, go ahead and tell everyone it will be fixed when it needs to be. I've debunked that argument over and over. The time to fix what's broken with bitcoin is yesterday rather than today or tomorrow.

[prodigy8]

Is there something big going on? I'm asking because if it's just a hype thing (like the Mike Hearn thing) this would be a good time to buy. Otherwise I don't know

I have been familiar with bitcoin with all these ups and downs,

If the price doesn't change for a while then I'm surprised

I'm just surprised about the DOGE altcoin which increased dramatically these days after few months dying.

[socks435]

For i think it just a effect of the market if less buyer and more seller the price will should be decrease but if more buyers and less seller the price should be increase. I just heard it before here in speculation. honestly i dont know why the price is going dump again...

[SFR10]

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.

[damiano]

Is there something big going on? I'm asking because if it's just a hype thing (like the Mike Hearn thing) this would be a good time to buy. Otherwise I don't know

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.

[mtnsaa]

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.

[Amph]

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

[MF Doom]

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

[Digitalbitcoin]

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.

[Trouble821]

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

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.

[NorrisK]

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!

[Digitalbitcoin]

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

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.

I think its because of market trends.

[Erkallys]

I'll say it once more...
Broken fundamentals and stagnated development.

Broken fundamentals aren't bad if there are people willing to resolve it.
Right now that last part is totally missing within the whole of the bit coin community.


Sure, go ahead and tell everyone it will be fixed when it needs to be. I've debunked that argument over and over. The time to fix what's broken with bitcoin is yesterday rather than today or tomorrow.

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...

[AliceWonderMiscreations]

I'll say it once more...
Broken fundamentals and stagnated development.

Broken fundamentals aren't bad if there are people willing to resolve it.
Right now that last part is totally missing within the whole of the bit coin community.


Sure, go ahead and tell everyone it will be fixed when it needs to be. I've debunked that argument over and over. The time to fix what's broken with bitcoin is yesterday rather than today or tomorrow.

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.

[mtnsaa]

I'll say it once more...
Broken fundamentals and stagnated development.

Broken fundamentals aren't bad if there are people willing to resolve it.
Right now that last part is totally missing within the whole of the bit coin community.


Sure, go ahead and tell everyone it will be fixed when it needs to be. I've debunked that argument over and over. The time to fix what's broken with bitcoin is yesterday rather than today or tomorrow.

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?

[mirana12345]

Is there something big going on? I'm asking because if it's just a hype thing (like the Mike Hearn thing) this would be a good time to buy. Otherwise I don't know

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

[inca]

Mike Hearn has nothing to do with the price.