Bitcoin Forum

Something's gotta give.  On its run up to $266 last year, what price was it stable at prior and for how long?

What, you don't know how to read a graph? Are you retarded or something?

There was a long period of stability around 125 before it finally gave way and dropped to 66. Then there was some stability around 135 before but breaking out. But none of the above were as long as this 800 stability.

personally, I like knowing the plane tickets I bought near christmas were valued at approx 800/coin. there is something nice about it still being the same now as it was then. I dont feel cheated for making that buy. for anyone who may want to know I booked with cheapair.com was easy and Im going to do it again most likely.

In the past 10 days, the price has hit $740 and $825. You guys have a completely different definition of "stable" than I do.

http://blockchain.info/ru/charts/market-price
look at this stability from 6 may to 7 oct.
its 5 months vs 1.5 months of ~800

If you look at it as a % change thats very stable for bitcoin.

Isn't stability what we want if we're looking for wide adoption?  Normal currencies don't fluctuate insane amounts in a day, and that's what is keeping a lot of people from buying in.  Maybe it will get some of the more hesitant people to buy in, which would raise the price :)

We were at ~$150 for a reeeeally long time too. Months in fact. There was talk of stability, and finally miners could plan their ROI (or lack thereof). Well, we all know how that turned out :D

People are pretty funny when it comes to definitions.

Personally I don't think this third bubble was a bubble at all.  I think it was a rapid climb to a new normal. I think bitcoin had 2 bubbles and then a popularity boom. Primarily the third bubble not-bubble was just about Chinese getting into bitcoin in typical Chinese fashion: somewhat delayed, but with a massive push.

I also don't really see how people can describe the third bubble as a bubble when it the price 'crashed' to 300% its value in over a month.  Like if something goes from $200 to $1000 than comes down to $800 (in the span of a month) how is that a crash?  

I guess many of you are expecting any day now for the price to fall to $400?  I really don't think this will happen.  I think our new bottom-bottom is $550 and we are not going to see any coins for less than $650 going forward, besides just a few days of 2014.

People buy bitcoin to profit on speculation, by and large. If it keeps sitting at $800 like it has been for the past few weeks, people will get bored with it and find something else to invest in. Given the low volume on this forum and on the exchanges, I guess this has already happened to a large degree. So I would argue that some volatility is good for bitcoin at this stage.

Would it be possible there are forces manipulating BTC price? For some reason, they want the price to move between the range of 800-810?

This is exactly my thought on the issue. Stability with a very gradual rise would be best in terms of the long term, rather than up and down rollercoster that is unpredictable.

Yes, that is absolutely possible

Low volume could just mean that people are holding in speculation of an increase soon. I've recently upp'd my bitcoin investment due to current stability and being able to pick up some bitcoin at a "cheap" price in my book. I see btc hitting $1000 again easily with any bad economic fiat news

That's what I thought, thanks.


This was my thinking as well.  We have seen bubbles....sure.  But this $800 price seems more like Bitcoin hitting the mainstream than anything. I don't think we ever "crashed" from the Chinese, and I don't think we will.

The chinese are still on holiday until the end of the week. From what I've read their banks are closed. I'm hoping for a breakout next week, otherwise we will still be stuck in the 800 for a while.

Bitcoin always finds brief stability just before a major move...

It's like riding a roller coaster while blindfolded... You don't know whats next but you know the track won't stay straight forever.

But now nobody will buy because bitcoin is known and wanted for it's insane daily fluctuations. It's like an easy woman that now won't accept one night stands for money anymore but wants a 'stable' relationship

That's bullshit. You could also say that many of the speculators have already left in December, since the value right now is still 30% lower than it was at the top. Also historically it's just not true that after long periods of stability people somehow get bored and leave bitcoin. December 2012 for example was a very stable month at $13, or February-June 2012 at $5. Both saw amazing rallies after those periods of stability. The opposite actually hasn't happened that often, and when it did the stable period was a lot shorter. The period before we dropped to $65 in June/July 2013 for example was far from stable if you look at the charts there.

that is actually right. going from sub 150 (for ages) to 1100 and falling back to 800 is not really a bubble. maybe that is exactly what makes people nervous. it would really look strange on the chart if it would keep rising again now  ;)

Because the mining cost also stayed relatively stable at this level for some time, the ant miner brought a new wave of cheap mining rigs. Although using BFL rigs the cost is much higher than $800, using ant miner can still keep the per coin cost at $800

yep...silver has been much more volatile than Bitcoin in recent weeks.

The first six months of 2012 were also a bit of a snooze-fest. The price in June was pretty similar to the price in January.

You actually saw many ~25% weekly swings in that period. That would currently equal price going to 600 or 1000.

That was only in the first six weeks. March, April and May were similar or even calmer than now.

There's no mystery here. Most of the bears and bulls are waiting on regulatory and other legal decisions to guage whether bitcoin will take off with the general public or be viewed as a novelty. The market has already taken into account some of the bigger news stories this year also. Expect this kind of boredom until late March or early April.

The primary reason that people own bitcoin (I believe) is bc they are looking for a place to store wealth and to speculate.  The idea is that as sovereign currencies implode bc of government printing and spending, an alternative will be sought.  Gold is one such place, but bitcoin is a better one bc, in addition to being limited in nature, it has the ease of transferring money cheaply and easily and globally.  But make no mistake, however - the vast majority of people would not get into bitcoin if its only feature was this ability to transfer.  It must have a possibility to increase dramatically for people to invest in it, and its market cap must go up dramatically for greater acceptance and liquidity. 

Anyone who has watched the bitcoin price closely can see that the price is being kept at just over $800 so that the bitcoin advocates can yell out "SEE HOW STABLE AND NON-VOLATILE IT IS NOW"  These large bitcoin holders, who have more bitcoin than they know what to do with, think that they are helping bitcoin by stablizing the price by capping it (mostly) and putting in a floor (occasionally).  For all their good intentions, they do not know that they are actually hurting bitcoin.

The reason that you are not seeing headlines like "bitcoin rallies on Argentina's peso decline" or "on Turkey's Lira's decline" or "on Puerto rico bonds to junk status" is bc of these huge bitcoin holders are holding the price at current levels.  When Cyprus had its debt issue last April, the price exploded.  Somewhat similar debt issues are taking place now, but no movement in the price whatsoever!

By god. You have those two so much the wrong way around it is unreal. I take it you are a holder who is getting a bit bored with the lack of movement in the Bitcoin price, suspects that there is market manipulation holding the price in a range, but doesn't want to consider the fact that the manipulators may actually be protecting the value of your vaporous assets until 'reinforcements' can be sent (a genuine organic market demand returns to Bitcoin).

If you were watching these markets as closely as an obsessive compulsive day trader might, who is looking for both long and short opportunities, then you would be fully aware that these markets are being mostly held up, not capped.

Could just be that there are large buyers and large sellers that want to enter the market and exit the market without moving the price too much?

I would guess that most traders are waiting for MtGox to finally explode before getting back into the market, it just seems like way too large of an event to be trading in front of.

imho stamp seems the playground of a bot programmed to keep price at 800 with scarce action beyond that.

Good job adding to the discussion.  Thumbs up.

Twitter, Facebook or even more small penny stock have had way more volatility lately

Bitcoin's volatility has been mostly upwards

Some people believe it's a bot called Coinbase.  And they have enough money to control it indefinitely.

Could be. But if that is the case then someone certainly got a bit clumsy today.

After that heavy sell off pressure that came out of the blue, the Bid/Ask wall on Bistamp now looks like an elephant balancing on a fence post.

It looks like the bears are winning over the bulls...

Are you happy now that we've broken DONW through the stable $800 line?

Yes, it has been a while. Maybe with the Mt. Gox spread reducing there might be some activity. Or maybe not. Who knows?

I'll admit, it's nice to have stability in price for this long. It's like it is saying, "See, it could be done." There'll likely be more movement at some point in the short term, but I wouldn't be surprised if this stability lasts a few more weeks.

Welcome to BTCitcoin

Bitcoin is crashing now, at 2:30 AM EST (USA) it's just dropped to USD $770. HODL or sell?

Sell INTO a crash?  Why, so we can lose money? I can understand selling BEFORE a crash or at an all-time-high....but to sell after it loses 7-8%?  No thanks.  Sounds counterproductive.

Next week will be interesting, that's for sure

+1

BTFD

Bullshit.  Selling into a drop makes all the sense in the world if you understand the reason for the drop and anticipate further downward movement.

Reason for drop in your view traderCJ?

Background psychology: MtGox continues to flounder, worldwide regulatory uncertainty, mining centralization concerns, GOOD NEWS doesn't budge the price much anymore, however price has been stable @ $800
Foreground psychology: Bitfinex was either hacked or is glitching, Apple openly hostile to a yet another Bitcoin app, CampBX likely to implode, will the price drop tomorrow as the Bitfinex issues are more widely publicized?

Outcome: Best case, stabilized in the high $700s.

Thanks for you coins!

Thanks.

annnd.... back to $800

selling in crash is to prevent lose more, if you don't sell, you are going to lose 10% 30% 50% 70% 99% until bitcoin goes $0, then you have nothing left.

This is idiotic. For Bitcoin to become truly successful it needs a solid base of utility use and that requires some level of price stability.

What you basically want when you say more volatility is bigger gains to attract more fevered speculation, we don't need that.

"selling in crash is to prevent lose more, if you don't sell, you are going to lose 10% 30% 50% 70% 99% until bitcoin goes $0, then you have nothing left.

Whatever you do, do NOT be this guy. Bitcoin is not going to $0. Not for another ten years, if ever.