Bitcoin Forum

Why is the price of Bitcoin suddenly going down so rapidly.

End of the bubble ? Or it's just coughing because of the auction + OkCoin having problems of access it seems.

Maybe because last days we assisted to a suddenly going up and some "players" are taking their easy profits

Retreading and stabilization before another rally
It's in a testing range and it makes sense after the rapid rise to settle down and consolidate somewhere.

It is good that the price of bitcoin fell lately before a bubble is formed. We do not want another bubble.

The consolidation after dramatic price is necessary for the future price rise.

You think it's fail?

From $300 target by end of October then jumping to $500 yesterday then around $385 today. It's above expectation. Many expect just a small increase in the last week of October and bitcoin surprise as for a rapid increase so I think the price today is fair. Like I said in the past, stablization really needs to have a strong support. So I can't say that this price is a fail. It's a step for more stronger new floor.

it's a fall for this session but considering the previous rates of it i.e...before china's bump it is quite better and more profitable .

It's a healthy correction after the rapid rise. It's actually a good thing. Flush out the weak minded  ;)

it is just similar to pyramid schemes. you cannot predict their progress but surely one day they will come down and be forgotten. I am no hating because I also want to trade with them.

why are people even surprised because the price is going down. it's normal to see people sell coins in order to secure their profits. the price went too high for people to start building support levels. i hope $400 will be the floor the comming days.

the price goes up more than $100 in a day and looks like the epic episode from bitcoin has been ended
last time i saw the bitcoin price $398 at  Bitstamp

Expect some kind of manipulation, and over the moon after next year. No way this story can go without financial institutions who are experts in market manipulations. So we are ahead of one growth, big fast fall and then again rise. Just my opinion.

Yeah some considered the price down as fail even without realizing that this is a success somehow. I hope so that $400 range will be the new floor to gain much stability. I hate to see below $299 value now even for buying purposes. :P

The auction is today, and is it only coincidence the price fell less than one day before? The price clipped $500 then fell so it might have been due to that and the auction.

Pyramid schemes only fall once and don't recover. In fact, one large fall will unravel a pyramid scheme. This fall in price is not the first for Bitcoin and certainly not the largest. The two are just not similar at all.

I was expecting a correction as well (I mean anyone who thinks $100 price jumps overnight is sustainable is crazy), but I think the way the price is moving points to serious manipulation, possibly whale manipulation, but I'mwondering if there are some exchanges participating too.

Maybe is because the massive pumps have ended? But still, I think the price is great apart from what it was like a month ago ($235). Perhaps, in the end of 2015 the price would rise between the $500 - $600 mark. I'm still holding my Bitcoin here.  ::)

Fail at the current price today playing around $380-$390?. I don't think so. That's a big price still. Many don't expect it to happen in the last week of the Month of October. I see $350 target by end of November but yet it surpassed the target so I can consider today's price still a great increasel. :) Don't rush things. We will go to the moon slowly.

I will explain this recent fall with these words''to make a big jump you need to take two steps backward'' there is not possible just one way traffic so price just can't go go up there will be many ups and downs till price will reach where they should be truly.I see it normal and expect next upwards movement in couple of days again.

Bitcoin is a young economy and hence it fluctuates a lot

I see that once the price pass 400$ it goes down again so fast, heavy dump imo
Besides i noticed that btc-e price since the big drop from 500$ is aligned with bitfinex, Bitstamp, coinbase prices (~395$) which isn't the case with kraken (~360$) any one have more information why?

Thank the US government for this gift of inventory.

http://www.coindesk.com/us-marshals-final-silk-road-bitcoin-auction/

It peaked at 500 and is not correcting, the rise will continue, we saw this same behaviour last year in november when there were days where the price ended being inferior to the last day. Corrections must happen and I actually hope the rise is very slow because I want more BTC.

Parabolic rise is still in effect.

I see this falls of price as correction and not worried about it at all.I will not sell any single bitcoin and will keep holding my funds.If we see behavior of current rising there are and will be high volume of dumps and recoveries in matter of hours.

That is right. The rise has just started. The price increase so far is too big. A correction is need to stabilize the price and prepare for future price increase.

we had our much needed correction from $500 to sub $400 already. can't see the price go much lower than that as i think the bull run will continue very soon.

If you are believer of bitcoin, and trust that the price will rise eventually with the increase adoption of bitcoin, then there is no worry at all.

Yes the good bitcoin believer, never worry about bitcoin prices goes up or down. Only holding if the right now job for all the bitcoiners. So, it is a part of bitcoin life cycle to go higher prices and come down to the lower price.

Price rose 'too fast' and many sold off for profit. One could say that the price-development of Bitcoin is unpredictable and remarkably predictable at the same time ... ! Experienced traders make a considerable amount of money in these volatile times.

i believe in bitcoin and its future. that's why i don't worry about the price fall from $500 to below $400. i have enough patience for the comming years.

Yes this is right.Crazy runs like tha one always end with a bigger correction and of course the traders under us use this oppotunity to take some profits.Nothing bad here.This is normal behaviour and should not worry anyone.
At the moment we are around 360-370 which is really good imo. If we can hold this it will take long and we continue to climb I guess.A sustainable rise and a stable 400 should be possible until the end of the year.Let's cross fingers for that!

When there is a very high uptrend, it always correct. So yeah, the guys that sold at 500 can celebrate, but they could have fucked up big time if it kept growing to 1K and beyond. They eventually will. Moral of the story: just hold.

The recent price drop from $500 to $350 is good correction. This correction is need for the profit taking and prepare for next push higher.

OKCoin is having problems:

“OKCoin is currently suffering from malicious cyber attacks and as a result, some services may be suspended, Sorry for the inconvenience.” (http://cointelegraph.com/news/115562/biggest-bitcoin-exchange-okcoin-suffers-cyber-attack-price-plummets)

Note that the problems conveniently started as the price started to go down. That's deeply suspicious. Many Bitcoin exchanges have gone under because they speculated with customer funds and guessed wrong. When that happened, suddenly delays started to appear. Remember Mt. Gox.

Worse, OKCoin offers "leverage" and derivatives. If they mismanaged their counterparty risk, OKCoin could lose big.

If you have any assets in OKCoin, get them out now.

Has OKcoin said it will compensate people who were margin called because they couldn't access their accounts to close positions? I'd hate to watch all my money going up in smoke because an exchange was down. I lost some money in that situation once, but not everything.