Bitcoin Forum

Why are we stuck in the $600 price range for so long?

What do you think is the reason behind this?

Because you aren't buying enough bitcoins! How many did you buy yesterday? None? Come on man. The reason we're stuck at the $600 range is 100% because of you. That's my theory anyways.

If I were Warren Buffet or Bill Gates you can blame me.

btw, I do buy some bitcoins when I have extra cash lying around.

i prefer to be stuck at this price for the rest of my life instead of going to the moon one day and drop back to the doom the next day.
volatility is not good at all.


i also have this theory! generally everybody is waiting for the price to rise but they don't even buy anything.
and their dump will bring the price back down again so what is the point of the rise!!!

good assessment if all of us just continue to hold and not using it for something that the chain will continue it not move up so
we should help it in the sense of keep using it and invite more investors to go along with us.

Because too many people are doing nothing to promote Bitcoin to other people. We will not see a massive increase in the price from current Bitcoin hoarders, because most of them have already bought their share of the coins. I buy much smaller amounts on a monthly basis now, than what I did when I entered the scene many years ago.

Some people buy and sell during normal trading, but it is not new fiat money coming into the pool, only old money being circulated. What are you waiting for, get out there and promote Bitcoin to new people. ^smile^

New investors will enter bitcoin when they see developments in the currency.

Also there hasn't been any big developments in bitcoin after the Bitfinex hack.

Haha That's the super answer! But it really has sense. Semms like bitcoin selling-buying going not so activly this days and weeks, that's the reason bitcoin's price frozen on the same point. I also wish to it start to rise, but we all need to wait for now.

We should be grateful that we're in the 600$ range and not anywhere below that price. No matter what's the price of Bitcoin, there would always be a thread like this saying something "Why are we stuck in the xxx$ range?". Threads like this doesn't help at all. The basic reason why there isn't any major pump lately is because there's not much people buying Bitcoins. Thus, if you want to change that range, then go ahead and look for rich people in real life who might be interested in investing in Bitcoins.

There would always be threads like "Why are we stuck in the xxx$ range?" but "Why are we stuck in the xxx$ range for so long?" isn't always going to be there.

Most rich people I know isn't going to take advise from me until I reach their level of playing field.

I don't the real reason why the bitcoin price is not stable at the time but there are real things that bitcoin price really goes upto +20$ so far and if you are going to think that is bitcoin gained so much investors? Are they buying more bitcoin for business related?

the current price of bitcoin is in the range of 600 USD to 700 USD .Highly bitcoin price movement may well change over time. because bitcoin is currently already has many users and also the increasing trust of government institutions. bitcoin have more stable prices and also does not damage the financial markets.

i think the reason is very simple we are trading in 600$ for such a long time because of the kacking issue of bitfinex, which really effect the price of bitcoin too much. but now the market is really recovering its position.

so true . bitfinex greatly influence price movements bitcoin today. bitfinex lost most of bitcoin that exist in the world today. This certainly would make the guarantee confidence in the bitcoin downhill for a while.

the $600 range is also like any other price ranges before it. and it will be finished one way or another before another big rise happens.
there is always a long accumulation kind of thing going on before the big rises actually take place and i have a feeling that this time we are nearing the end of the phase and rise will soon happen.

remember the time when the price was below the $300 price level for such a long time back in 2015? i think we should be happy with the fact that we reached this price. it's more than 100% increased in that period till now. better enjoy the current stability than asking why the price is stuck.

There is no special reason.It's just the market. Buyers and sellers are on a mostly same level.That's why we are moving sideways.
No reason to dump and no real reason to pump up at the moment.It's the calm before the storm. I know this is boring as hell, but sooner or later we will see some big action again. So use the time and try to accumulate a bit more Bitcoin if you can.

Rome wasn't build in one day. If we stay at that price for a year more or two, I'll be very satisfied of it. I'm now in an accumulation phase.

A year or two? that's too long IMO.

@ontopic, if you look at it in terms of price stability, you'd be very happy.

Actually if you see such price where the bitcoin's price is neither too stable neither too much variable is the best time for bitcoins, because there are users who want stable price, while there are members who want unstable price, so actually both can benefit since the price is neither too stable nor too variable.

Bitcoin has a much larger market cap than say 1 year ago hence it's much more difficult for whales to manipulate the price. That's the reason why we see less volatility. The price will begin another leg up or down though, out of the 600 USD range though, you can be sure about that. It's just a question of when.

Well, yes it depends on the buying orders but also the fact that buying of btc will occur only when selling will occur, I mean if someone will buy at 600$ and sell at 650$ then how will the price of bitcoins reach 900-1000$ .. I think not we small individuals but the big companies determine the price of bitcoins.

Exactly, we need investors to bring up the price of bitcoins. Promoting bitcoins to more and more people would mean the more purchase of bitcoins and hence the value of bitcoins will increase. And yes if we are able to attract some big companies like suppose amazon starts accepting BTC then there would be a huge spike in the price of bitcoins.

There was not really happening a lot and due to that it was not going great with it, there were no events but also no real buy ins with large amounts or something.

for several months now visible movement of bitcoin prices are very stable. and the movement was not too far away from a number of around 600 USD. we can conclude that the price of bitcoin is not currently affected by various factors.

this now bitcoin price is trend up
until in end year bitcoin price trend can up
my prediction bitcoin price is until in edn year 2016 can up until reach 800 dollar every one bitcoin

in previous days as yo can see after bitfinex issue the price of bitcoin fell down to 500 USD from 660$ with in few days, and after that the price remain stuck under 600$ as people lost their confidence on bitcoin and were not feeling free to invest their assets but now people are getting their confidence band and start investment in bitcoin, and therefore we are hopping the price to reach to maximum very soon.

Its going to be a long time before we even see $700 again so I don't think we will be seeing $800 before the end of this year.

it seems now the demand is stable, so the price is still $600 range. isn't this a good price stable at $600 after the incident bitfinex. prices began to recover and some of these days the prices have increased.
let's see the next few months I believe the price can touch $700 and it has seen rising to $ 640 in a few days backward.

Nope. There are USA elections and FED rate hikes ahead. Bitcoin will definitely react to those events. And there is even something bigger ahead: World War III.

If Killary gets elected, she will make bitcoin great again.

Actually i think price is swinging near $600 range rather than stucked on same price. If price will not swing like this there will be no any good opportunity for traders and sometime whales also manipulate price to create such swing and hold price at some constant range for really long time. I also think this $600 range is kept proposly to make price swing at this range and whales accumulate cheap bitcoin before they pump the price.

There was a slight increase from a few weeks ago. We have seen the price touch $640 again but it has since went back to below $630. But October is still a few days away from being history and things can either go up or down. I think this level the price is still a good one to buy at.

Now the time is starting to rise the price of bitcoin. If bitcoin stuck, so i don't think that something is wrong with bitcoin, You know before Bitfinex hacked everything was fine, when exchange has been hacked than the fall of bitcoin's price was started, but now i have fully hope that the coming time is better for bitcoin, But we should keep in mind, that it is a crypto currency and always it will be happened that sometime price up and sometime down.

Well that explains it all. Best answer so far  :D

Yeah that's true, i never expected the price to double in just a year. And as you remember the price didn't rise suddenly (Excluding the halving) it was gradual. It been only few months that we are in the $600-650 range it will increase and even if the price remains stable that's not entirely wrong thing.
And this the graph for last month, hope it will keep going up  :D
https://i.imgur.com/zwaA2Za.png

already a few days the price of bitcoin survive in a number of around 600USD. precisely in the price of 630USD. now there is no longer a substantial increase. bitcoin prices are stable and there is no movement at all.

I see this stable price as pure manipulation by whales so that they can bag hold cheap bitcoins thrown to them by some light hearted traders and after they get good amount of bitcoin they will pump the price hard and the one who lost in between this will be all small traders and whales will always win.

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..

We were pretty stuck in that price due to the fact there was no event and there was  no one selling or buying with some nice numbers.
I think that due to that it was on a stable price.

Yes, but according to my theory if the number of people will increase and the amount of bitcoins will decrease per user, like suppose everyone in the world holds 0.0001 btc then yes the price would be around 100k $ per bitcoins but at the same time there would be no price changes at all and hence no price trading.

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.

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.

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.

this is seriously the same story as 10 months ago. i mean look at the history:
Are we going to stay at $400 for a long time? (https://bitcointalk.org/index.php?topic=1340206.0)
now look at the charts:
https://bitcoincharts.com/charts/bitstampUSD#rg360ztgSzm1g10zm2g25zv

the exact same thing is happening on the charts and the same thing on the forum, weak hands will soon be shaken out and then the rise begins and those weak hands join in again and price goes to $750

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 !

The problem is that Bitcoin's moves are sudden.  ;)
Only long term hodlers are not worried about these intermediate periods of stability/flatness.

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.

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.  ;)

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

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 600BTC range of bitcoin now is so stable. But that is good than bitcoin drop the price.

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.

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.

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.