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phreaky
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October 21, 2016, 06:06:43 PM |
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We are not suck anymore but it was because of the buy and selling period was not really doing anything, there was nobody doing it and due to that the price was bases on the 600 dollar.
Its pretty funny that this happened but I think it will from now on rise and go to a nice amount.
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upsidedown75
Legendary
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Activity: 1288
Merit: 1036
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October 22, 2016, 04:13:11 AM |
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Why are we stuck in the $600 price range for so long?
What do you think is the reason behind this?
The reason behind this is that there are more and more users and as the users will increase the price will become stable because then if someone sells 100 or even 200 bitcoins the market wont change much while if there were limited number of people then market fluctuates much quickly. |
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Oilacris
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October 22, 2016, 04:33:26 AM |
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Why are we stuck in the $600 price range for so long?
What do you think is the reason behind this?
The reason behind this is that there are more and more users and as the users will increase the price will become stable because then if someone sells 100 or even 200 bitcoins the market wont change much while if there were limited number of people then market fluctuates much quickly. Huge investors or traders or even whales could actually make the price of bitcoin move. We are stuck on a particular price because there are no activities on that time frame and i assume all of those bitcoin users just tend to hold their bitcoin and dont intend to sell or buy even more. |
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jondeen707
Member
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Activity: 84
Merit: 10
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October 22, 2016, 11:28:04 AM |
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Honestly i really don't know what is the real reason but for me before bitfinex was hack we are in 700 value level if bitfinex was not hack expect that the price should be in 800 value or staying in 700 value after block halving.. we are lucky that we are here again back below in 700 value.. and i think the reason why the price of bitcoin still staying in this position it's because many people are still believing for bitcoin that the price will increase soon so they are still holding their bitcoins and wait for price changes soon..
I tend to agree about Bitfinex part, if it weren't for the hack, we'd be in the $700 to $800 now for sure. |
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OmegaStarScream
Staff
Legendary
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Activity: 3472
Merit: 6125
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October 22, 2016, 12:37:15 PM |
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Bitcoin price like every other crypto currency is based on supply-demand which means that there shouldn't be enough demand otherwise the price will decrease or stay stable. Everyone is currently holding their coins instead of spending/exchanging them hoping that they will become rich.
I do agree however that It's kinda weird since the halving block reward happened and we didn't move much while miners should be out of stock of 25 BTC (the old supply) block rewards.
SegWit should happen in November and Lightning network should start getting developed just after that , hopefully that will bring more users to the Bitcoin world !
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panju1
Legendary
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Activity: 1246
Merit: 1000
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October 23, 2016, 01:00:26 AM |
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The problem is that Bitcoin's moves are sudden.  Only long term hodlers are not worried about these intermediate periods of stability/flatness. |
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satdas
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October 23, 2016, 09:31:09 PM |
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as the price of bitcoin was trading round about 660 USD before the bitfinex issue but after bitfinex issue people start panic selling of bitcoin and the price of bitcoin reach to 500 USD, and after that market recover its position and was trading below 600USD for a long time, i think the reason was just the confidence fo the people, people were not interested to invest their money in bitcon becasue of lack of confidence, but now people start using it its mean that they have not got confidence on bitcoin.
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sempak
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October 24, 2016, 01:56:40 AM |
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Now there has been a considerable increase outstanding against bitcoin. price increases occurred only in a very short time once. I am optimistic that bitcoin will rise back towards 700USD. I hope it becomes a reality. |
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Mr.grin
Legendary
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Activity: 1218
Merit: 1000
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October 24, 2016, 05:26:06 AM |
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Well, a lot happened after bitfinex hacked, and I think bitcoin prices are stuck at a price of $ 600, however, I think the current price of bitcoin already started to move my son, and it may be beneficial for people who have been patiently hold bitcoin tang they had. Well, maybe next month the price of bitcoin will be out of $ 700
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gandame
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October 24, 2016, 09:10:55 AM |
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Why are we stuck in the $600 price range for so long?
What do you think is the reason behind this?
Maybe there is no many buyer yet of bitcoin so that it is stock in 600$ or maybe some traders are earning there money to buy more bitcoin so we do have wait that bitcoin price goes up. So the 600 BTC range of bitcoin now is so stable. But that is good than bitcoin drop the price. |
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1Referee
Legendary
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Activity: 2170
Merit: 1427
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October 24, 2016, 09:22:41 AM |
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Why are we stuck in the $600 price range for so long?
What do you think is the reason behind this?
Maybe there is no many buyer yet of bitcoin so that it is stock in 600$ It has nothings to do with there being many buyers or not. It's a waiting game that can last quite a long time as everyone is waiting for a large player to pull the trigger. And exactly that has happened as we have seen the price increase nicely. Another things is that people think very lightly on the price remaining at more or less the same levels for a certain time. They directly create threads such as OP and complain about the price being stuck. What these people don't realize is that keeping the price at the same levels for quite some time, requires a good amount of support from people. It's not that nothing is happening when the price doesn't seem to move. The problem is that the majority of the people simply don't understand/see it. |
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jossiel
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October 25, 2016, 02:15:35 AM |
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Now there has been a considerable increase outstanding against bitcoin. price increases occurred only in a very short time once. I am optimistic that bitcoin will rise back towards 700USD. I hope it becomes a reality. Dreams are becoming true with bitcoin. And I think we are not been stuck in $600 it is because of the fluctuation of the demand of bitcoin in the market. So the higher demand of bitcoin in the market then it is going to make the price of bitcoin faster. So in conclusion, the demand for these month with bitcoin is falling at first. But as of now, the price is rising. Just believe and it will pump. |
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Ybalevia
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October 25, 2016, 07:36:30 AM |
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We are stuck and i can tell you why there are to many new people into the bitcoin and they are only holding the bitcoin and that is not what suposed to do with
te bitcoin you need to spend them.
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