Bitcoin Forum

I was just wondering because if mtgox was responsible for making the fake increase of the price of bitcoin, then how come it remained at $200 and why it did not fell down to $10 like before?

mtgox was not responsible for much of the increases.. that was the hype from chinese exchanges that people then sheep followed on US exchanges. but when mtgox finally tumbled and closed its doors(withdrawals), alot of people stopped sheep following mtgox as the funds could not be transfered out and so they realized it had no impact any longer on real trades.

and that is why mtgox sunk to $100 while at the time(winter time 2013-14,), the other exchanges remained at $500ish

.. and all i have to say to that is thank god there were more intelligent investors, rather than MTGOX devoted sheeple.

I'm not sure why it did not fall to $10 USD when Mt Gox fall. Well, my guess is that more people get to know about Bitcoin because of the fall. Thus, the price did not went below $100 USD.

MtGox was only one of many variables. The price seems to have finally digested all the various news and stabilized. I would say $10 is probably not in the near future, but with bitcoin you never know. Without some major shift is sentiment, we could be trading in this range for a long time.

 

Remember that MtGox wasn't the only exchange. Even if they had some fake orders that were manipulating price that wouldn't be consistent with all the other exchanges. Bitcoin definitely had some enthusiasm bubbles that would have happened anyway.

I don't think they are as big of a factor as you may believe they are.  There are too many traders to fully believe that would be possible.

the price has been droped 800% but we still are here because this currency has impressed us and still it is developing is a good speed.yes we faced a fall but we will reach there again without any mtgox :D everyone is serious now

people accuse Gox from the 200-1000+ rise, not all rise since the 10.


And with or withou Willy bot more people are using BTC and more people know about it, so the rise

The market just corrects at any one time. That is just the natural price with with all past market thought.

because 10 is no nense, there will be always a demand for bitcoin no matter what will happen, that demand say that bitcoin is worth 200

also falling from 1200(fake pump) to 200, it's not the same as falling from 200(real floor) to 10, but not just because of the big differece x6 vs x20 but because it was a natural grow

$200 is what the demand and supply agreed upon as a fair price right now.
The real question should be: Are we going to see prices over $1000 again without another willy bot?

Guess it is the natural value for the coin at the moment in the market. It is profitable for the miners and if it is staying stable we could get more adoption in the economy, stores have more trust in a coin that has a stable value, it is nice if you can print a pricetag for your product and you do not have to change it every drop or rise of the currency.

asia plays probably the biggest role here. it's because of them that the difficulty has seen a massive rise while you would think with a significant lower price the difficulty would plummet hard.

Ye how is price remaining in the 200s... Should probably be higher :{)

No of course, the real second question... will you buy 1 bitcoin for 1'000 dollars? I do no think you will buy it ;).


It seems this is the real bitcoin price, we are crashe from 1k dollars to 150 dollars .... and now we are here for a couple of months 200-300 dollars. Some users asking for 1k dollars but the price (not the value) can't never reach 500 dollars http://techforum.it/styles/default/xenforo/smilies/asd.gif.

People who are asking for $1K Bitcoin while the price barely can manage to come close to $300 are clowns. They don't know how this market works. Typically get rich quick noobs.

Volume since the beginning of the year has been the highest in bitcoin history (http://data.bitcoinity.org/markets/volume/5y?c=e&r=month&t=bar&volume_unit=btc), yet the price has remained fairly stable, meaning a lot of accumulation is going on.  In fact volume is at a rate where each coin in existence gets turned over roughly once a month.  I wouldn't be surprised if some shenanigans such as naked short selling or some other fake selling is going on here near the end of the bear market, just as gox had some shenanigans going on at the top of the bull market. 

Volumes are most China fake market maker trades, 0 trade fee, 100 btc traded 1000 times = 100,000 volumes, just like this.
accumulation is going on? how about they are all bag holders victims?

Yes of course but those people are not asking "1k dollars * bitcoin" they hope to see bitcoin at 1k dollars. I think sooner or later the next halving will cause a raise of the bitcoin price (not value) most probable around 500 dollars.



Exactly, the volume is not related with the bitcoin price anymore. everyone can do these thing... also the same exchangers  (who knows)? The can move their internal btc and generate a lot of fake volume.

---

For this purpose I have created this thread with this title "Do you really think bitcoin price will pump to 1000 dollars after...." (https://bitcointalk.org/index.php?topic=1062360.0).

We are in an accumulation phase.  Those holding fiat are the bagholders.

Because everyone that is paying attention knows Bitcoin is only growing daily on every single level (transaction volume, VC volume, network power..)
Why the price is not growing? because whales want it cheap before it goes moon since they missed the first boat, simple as that.
Why not going back to 10? because it doesnt benefit the whales since its way to risky, and for whales, 200 USD is less than 1 dollar.
So if you aren't getting BTC now, you'll cry later.

If you exclude the volume from China, will you still get the same conclusion?

You answered your own question. Bitcoin is a deflationary currency.

It isn't a belief. It is a narrative promulgated by a small cabal of traders, trolls and shills.

Anyone around at the time knows that the run-up could be summarised with simply: China.

China was reason for run up to $1200.

It's not over yet. Beartrend still intact.

Well we all hold a certain amount at a time, I can only imagine everyone went on the market and sold all of it on the same day.

Some people selling it different portions, so you see the decay over spreads within couple weeks or months then all happen in one day.

Then you got the whole china comment, and they state they ban the coin but my friend in china is buying up like crazy.  ::) gotta love fake PR for price points.

now, that i'm thinking of it, it wasn't at 10 before the 1200 peak but it was at 90 i still remember clear that number, then suddenlty it start climbing like no tomorrow

so in the worse case it should fall to 90-100, 10 isn't contemplated at all

If bitcoin gets used more, its price will rise.

not if people don't hold it and as soon they get it they dump it for products or for money