Bitcoin Forum

I don't think I remember that good the price before I went off the forums but I'am pretty sure it wasen't that low .
So what exactly happened ? what did I missed and what caused the drop on the price ? I was absent for the last couple of months by the way. I don't have that much of bitcoin to be honest with you but ... well it's just curiousity i guess

Chinese bots decided they could make more money by pushing prices low?

There hasn't been any radical bad news. There aren't enough people who want to buy it.

So nothing else but bots ?
Because the days before I leave there was a lot of hacking and exchanges going down , most of them was chinese :o wondering if that continued too

I guess hacks happen all the time, but there hasn't been a Gox or a China ban or anything of similar magnitude. Overall the news has been borderline miraculous.

It's a fine demonstration of who's really in control of this market and how much of a hold speculation has over it. Regular folks are few and far between anywhere near an exchange.

There is a huge gap of posting time for your account there but actually none happening between the time you left the forum and come back. Basically it is being manipulated now , price isnt changing much actually since you left forum.

If you check on bitcoin discussion and economics section you can see that there are alot positive news about BTC but there isnt enough force to move the price up since trader are manipulating it right now


Hacking seems could be the reason but it was only a small amount, basically the large amount of hacked BTC from stamp hasnt move yet

Well there are god and bad news but maybe it just needs time. Right now there is more supply than demand I guess that happened..
Anyways, do not lose your faith and have a part of your money, even a small one, with Bitcoin. Maybe it will be helpful in the future.
https://i.imgur.com/Dl1ZxUk.png

There is possible to say bitcoin achieve price stability,or USA economy and EU economy is in stagnation and bitcoin follow

Or be optimistic it is silence before storm

I agrre chinise bots make money from daily trading,but there is also silence before storm

Well if you look at the monthly chart, the lowest closing was $219 and highest $243 which seems pretty stable considering what we've had. If you look at the 6m chart the lowest was $171 and highest $379. That tells us that we don't have stability yet.
However I do not believe that this trend can persist. We know that the price tends to depend on the news/major events. It is always calm before a storm.

if they are indeed making money everyday with trading, it could explain why the swing are becoming more slim each day that pass and why bitcoin is in the current stagnation

Alright , thanks for all your answers guys .
I'am back now and hopefully the forums will be stable and the price of Bitcoin goes up this summer so I can have some fun ;D

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

I think people are just fed up with the prices, and they feel its not worth it?

I dont know, but obviously the demand isnt there on what people think so far right now.

is that even possible though?

I`m unfamiliar how bots can change the price, is it since they buy only at frequent times? or false orders?

It is possible as far as I know and that's what happened with MtGox when the price raised till 1000$~ or something like that . I wasen't on world that time but that's what I heard , the BOT was named willy AFAIK .


It wasen't that low when I left :o It was like 600$~ on the last summer if I remember right that time I heard of Bitcoin but never had any

Your right it obviously is not just bots but to be honest them and the whales do play a major part in keeping the price low and the manipulation of rising the price when they have accumulated enough at the lower levels which they are happy with.

I think people losing interest has a part to play also as well as big mining farms dumping every coin they have on the market without as much new money coming into the game. Once we have more new money that can buy up all mined coins plus more then we see a nice rise again.

Oh okay, I read something different on with mt.gox.

Something like about phantom deposits, but i`m sure it was a mixture of both. isnt there some tool that exchanges can use to verify orders are from people, not bots? how do you stop this bot crazy orders then.

I haven't noticed any change in the past month. Trying to think about it, did I check the price of BTC in the last 30 days? I think I haven't. I don't worry much about BTC going up or down a little, I'm in for the long run.

Well, so you think if it wasn't for the price manipulation Bitcoin would be currently at $600.

It might be $6 for all we know.

That is the problem here. We will never know. With this volatility bitcoin is not good candidate for global currency at all. And the worst part is - it can't be helped. Are we doomed?

Well the current fair price of Bitcoin is currently $237 .  Nowhere close to $600.

the next big price rise would be the halving of blocks to 12.5btc ...in 2017.

block halving will happen in 2016. the "big" rise will most likely start in january or february 2016. i think target is $400-$450 after halving.

This chart is interesting, but there's no sense of time (aside from one looking up the timing of all these events). Maybe the poster put this up as a joke or satire, but it would be good to see relevant news events overlayed on the historical bitcoin price...if it were current, that is.

Why it will start on January or February while the Halving block reward will happen on the last end of the year or the beggining of 2017 as far as I know :o Beside I was expecting a lot more to be honest , 450$ is a little bit low if you ask me .

it's not the beginning of 2017, but around the summer of 2016, so basically we are a year away from it, not that long of a wait anymore, something should happen soon about the price

450 it seems a too random prediction, one thing is certain, if the price will decrease with the halving, then you can consider bitcoin definitely dead....

Supply and Demand. Obviously the demand side wasn't so strong to absorb whatever coins that get dumped to the open market. Whether those are new coins from mining farms or either it could be from investors who have lost confidence in the system, it is clear that there is not enough buyers to grab all the coins and thus causing the sellers to undercut each others price so that they can sell faster.

What drop in price?

Simple explanation: whales want more money. It is also amazing how we achieve the $1000 level within a short period of time, thanks to the Willy bot and China buying pressure.

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Demand is low right now, and the market is full of bots and manipulators making some profits on swings in price. It is basically the traders and manipulators that are playing in the markets, not much from other people interested in buying bitcoins.

That chart is great.  I don't want to quote it for obvious reasons :P

Does anyone know of a site that keeps a chart like that updated with the most recent bitcoin news?  I would be very interested in seeing that.  Sometimes news seems to have a large effect, sometimes no effect at all.

I don't know if this could help you with what you needed, but it is a great site to visit. You will see different graphs and speculations in regards with the price. http://tradingview.com/

I don't know what's exactly happened before.