Bitcoin Forum

do you think this current slide in price will result in a crash or rebound soon. or a slow long slide to a stabilization?

Long slow slide (possibly down to singles), followed by period of stabilization until bubble #3 hits.

this is what I thought my guess would be at around the 30 dollar mark though. then im in for the long haul.

That is a reasonable target.

lol, not sure we can get there, unless the coin software is hacked in some way

I would say its all speculation until the market stabilizes, and even then stable markets have a propensity to become destabilized from time to time. The real question should be to ask what the variables that are causing the slide are, and how do we recognize changes in those variables.

Man, a lot of people might lose a lot of money (temporarily or permanently) if it hit single digits. Makes my stomach turn lol

 I think it will linger around the 100 range until the next breakout.

risk is a hell of a drug

I do hope there is a deep floor on this followed by a lull before the institutional money digs in deep.

Yeah, if it does go to single digits I don't think it will be there for too long. I see the price staying somewhere over $100 until the next bubble hits.

current is current

I do not think there is anyone who would not buy bitcoins closing on single digits so yes we will probably not reach them.

I agree with the sentiment that we will see decline for a while. Single digits seem a little bit extreme forecast though in my eyes. It would require some extremely concerning news about the bitcoin security or credibility.

Everybody seems to be on the "decline for a while" bandwagon, which means the market is probably oversold at this point. The current jump back up to $124 might hold for a while.

Seems like there is pretty strong support in the 100-120 area.

Pretty sure the price is bound to break trough, but it may take some time.

It has rebounded nicely to the mid 120s and will probably pull back from there and maybe head higher.  It took forever to bounce though and I stayed up all night trying to time it correctly.

It it almost certainly caused by this:

http://www.ibtimes.com/silk-road-anonymous-marketplace-shut-down-administrators-offer-5k-information-lance-g-1230645

Freakin a few people out that their bitcoins will now be worthless, plus theres always the fact that someone managed to locate the site hidden on the TOR network. So people might feel less secure about their privacy.

I think it’s more likely that they're comparing the slide to 2011's and people actually want it to go to single figures so that they can buy in cheap.

Personally I'd like to see it stabilise at its current level, which would show some strength in the market. This in turn would draw merchants and users and give us a steady sustainable increase.