Bitcoin Forum

There was a minor crash last night most markets fell around 7% in a few hours, this occurred not long after a price spike. Does anyone have an explanation as to what factors may have influenced this?

You have to expect fluctations in the price. If you look at the 6 month chart you will see that a correction is hard to not have. Just sit it out and it will probalby later on i July start moving up.

I'm not desperately concerned about it as it doesn't really affect my strategy, but the size of the blip (I expect a similar blip the other way to correct at some point too) indicates an event of some kind. I was just wondering if anyone had any ideas.

I'd love to see a $12/btc.  Also, I've no plans of selling any this year, maybe I'll buy something with them though.

It has been suggested elsewhere that public interest in bitcoins are reported by Google Insight has recently declined. 

If public interest is a leading indicator of price, then that is an explanation.  On the other hand, public interest may be a coincident or lagging indicator because rapid bitcoin price increases are news that makes some people want to learn more about bitcoins.

When the Google Insight time series has enough ups and downs then we may be able to figure out the degree of predictability for bitcoin public interest as an indicator.

Crash ? no realy this is not crash its normal :) up down up down