Bitcoin Forum

Btc price coming down probably people are selling btc to get money for holidays right ?

I think shop owners who accept bitcoin are selling btc from the christmas purchases from the past weeks.

If price come down then it's good for faucet owner :)

Its just a regular pump-and-dump. You must be new here.

Let's wait at the start of the new year....from january BTC price will start to going up!

I can't wait to buy! Every time it drops I get real excited. The only thing I'm worried about is if it will not come back up.

i guess thats might be the case, i hope it will start rising

You know most people are using a service that doest this for them right away? The moment the transaction is made, the shop gets fiat instead of bitcoin and bitcoin is sold on the market somewhere.

I don't think we are seeing an effect of this, especially since the amount of stuff bought with bitcoin will be quite low probably.

I don't know the reason but It just fits me personally , I don't want it to go and rise as hell because I don't have enough BTC for the moment , so the late it is , the better .

We never know the reason why a fluctuation in price happens in Bitcoin unless it's very evident. However in this case, you make a very good point, it totally makes sense. If that was the case it should happen every year though if the price was relative stable in the weeks prior. Anyone remember something like this?

hahaha :D

It might seams good when the btc price go down for a faucet owner.
but it is not like that because when the price decline, your visitors will expect that you will increase the rewards rates. and if you dont, your competitors will do so and you will lose your traffic

If it stays like this for another 2 months, then I can buy myself maybe 2 or 3 more Bitcoins at this price. If it goes higher, then I get less coins for my money. It doesn't matter that much if you hold for the long term, but more coins for a lower amount is always better.

Probably just one of those 'normal' deviations in an uptrend. Though I suspect it won't be before february until BTC confidently breaks through the $500 barrier. Boring times for traders (I'm not one of 'em) and weak hands might sell off.

I also think same, this can't be other than merchants cashing out their money to buy more stuffs for their shop. We may again see straight uptrend near new year like before Christmas.

Not really!! I mean price down not because they selling btc for holidays.. Value down because all people in holidays so not much trade now in all exchanger.. Maybe not sure what im said hahha

it does not matter, either to buy some bitcoin when down, but I hope it does not drop below $400 and immediately go back to $450

Buy support at 420 dollar is gone, and now we are testing 400 dollar.
This is way faster then what I would have expected to be honest. I hope we can hold 400 dollar

I spent about 5k in Bitcoin this year for gifts. Last year it was MUCH higher, but I think that was because the novelty of actually using it when it used to be only computer parts that I could get. Anyway, if enough people do this then there would be a decent amount of pressure on the market.


@thread, another reason BTC may drop this time of year is investors balancing their capital gains. If they profit in one asset they may take a loss in another to minimize tax exposure. This is a regular process for investors, BTC is not immune to the tax man.

Probably yeah... People need money for Christmas too ;)

Yes I think that would be the case here. People who own a lot of bitcoins could've made profits off what the value of bitcoin was at the time. So they could spend it on gifts and such. I'm not that surprised that this happened, it was either going to go down because of the holidays or go up because people would be buying.

U joking...people here with 1000 + posts that rountinely come out with hair brained shite like that.

Who knows, for me the current floor price will last until in the first week of January or in the first month of the year rather until the price will make a big move again.

Either way it is positive.
When it goes down more, it gives me a chance to buy some cheap btc.
If is goes up, well then i can sell my coins.

I don't think it's vendors selling received bitcoin and I don't think it's necessarily people selling bitcoin to buy gifts.  What we're seeing is randomness, and you're all trying to assign a cause.  I don't think it can be done. 

It's a normal market trend, it can't just go up forever without some down swings at some point.  ::)

If you can't handle a 10% or so drop go invest in the NYSE

*by you

Stay cool.Bitcoin price is keeping 420$ level.There is no sell off from China side It is just usually day trading

In the middle of January will be 550dollars or 550€ :) but the point is that there is someone mining AS A HELL at the moment and not doing this for selling, it's just to secure few bitcoins before halving...March maybe 650€/dollars and just before halving we can see new record coming because of HOLDS...then a small drop and holders can buy their coins back from desperated people.

Probably... People need holidaying money...

In Europe countries most of the people are Engage in parities and enjoyment due to holidays. After holidays It will start increase gradually. As like that we can’t see big bump in January and all. We can expect good rate in the month of june.I guess halving also gonna occur on that time only.

A lot of people believe it is China driving the price.
Maybe people are getting rid of their extra coins after getting the best deals during Bitcoin Black Friday.  :)

Well, you're right, maybe they compete to sell bitcoin that they had to prepare for the New Year holiday, but take it easy, then maybe the price will go up again, because they will start searching and mining bitcoin again  ;D

It is true. I also do it sell btc to go on holiday. but I'm sure after the holidays end price will go up.

I have the similar feeling. The price is stable at the moment. But that is just a preparation for future rise.

it is indeed china that is driving the price. they are responsible for the majority of the demand. i think china's market share in bitcoin will only grow and grow. we can't do much about it.

Most of the mining operations are based in China because it has advanced chip design technology and manufacturing power and cheap electricity.

Yes and that's the reason why they control the network.
Also they have the most to gain with a high price, so i am sure they are behind every pump we have seen so far.

If the faucets owners buy bitcoin through fiat then it is the same, but the reward is less in bitcoin but the same value as before.

yes the price is going down to small numbers, i doubt that it will stop dropping if we will not decide on whether we want to have bigger blocks or not, lets hope everything will be solved as soon as possible and everything will be good

As for me are mainly and in big amount only normal movements of the price of bitcoin. Maybe a little affected by the celebrations but I think that such impacts are very few. The main (almost totally) factor in the change of price in such amounts, for me, is the volatility of the bitcoin itself. We are facing these days of January "big changes" on price which followed the "testament" of Mike Hearn. And bitcoin was went down only for about 80-90 us dollars. Then stopped and begin the recovering. If such "speech" (full of fatalism which raised big fear at the beginners) from an ex core developer of it is able to cause only this kind of "earthquake" the celebrations can be told that don't affect at all its price. To not speak for the "Harvard guy" which make its testament at Washington Post and had any kind of effect on its price.