Bitcoin Forum

Why is bitcoin falling down?
What price will be bottom?
And will it raise again?

Thank for explanation for newbie.
I´m new in bitcointalk and bitcoin community. I don´t understand many things.

Thank you for answers.

Your first question may or may not have valid answers. Many things have happened which people will point to as the reason for the drop in the exchange rate. Ultimately it is simply a correction.

The following two are impossible to answer without predicting the future, which I'm sure many people here in the speculation forum will tell you they can do.

Snowballing negative sentiment fuelled by the fear over malleability.

Lots of people think mtgox is no better than bitcoinica, or maybe even pirate!

I think the truth is likely far more mundane, but for now nobody knows, and whilst we wait, people act on what they believe...

A DDOS coordinated with very large sales of bitcoin drove the prices down.  It was a criminal act.  Many of the people here are in some way complicit in the crime.
Bitcoin creates a lot of opportunities for criminal acts.  The unwillingness of the community to take steps to self-regulate may be the most effective pretext for state regulation.

When the air clears on malleability, the price will probably rise further.  The air is partially clear now.  It will clear further when Gox enables BTC withdrawals.  Many hope for another leg down.  Unless they are conspirators with the DDOS, it is just greedy hope.

This cycle has occurred repeatedly in the past.  The major differences today are the degree of public attention and the amount of economic value involved.  If those differences are not pertinent or sufficient to change the cycle, it will probably continue as in the past, which means that after a period of stagnation the price will skyrocket until profit-taking kills the buzz.

There is a whole forum and you are asking for a summary, and you want it now.
Here it is:







You're welcome. Sorry for delay.

Because.
Nobody knows.
We don't know but we hope so.

Market sentiment is the driving force behind price movement and a correction always follows a spike. How low will it go before the correcion is over? Wish I had a crystal ball but atm I'm expecting a bottom stable price in the low $400s over the next 1-2 months for Bitstamp. MtGox? I wouldn't want to guess  ;D

Think of it like this.

U are out partying, u are drinking champagne, snorting coke, and banging back the ecstasy pills.

U feel alive and excited, vibrantly high on the positivity of what the future has in store. It is happening, you are taking off, you are going right to the moon.

The effects of the drugs start to wear off, but stay up all night abusing the same substances at a party, you still feel good but it just isn't the same as earlier.

The next day, you have a bit of a headache, but you had a good night and work isn't until Monday.

Monday comes, you are pretty blue, but not too bad.

By Tuesday and even worse by Wednesday, the feel good chemicals in your brain are at their lowest ebb, as your body seeks to restore equilibrium to the hyper indulgent massive drug fuelled serotonin bursts from your weekend's partying. All your great plans, all the hopes for your glittery future, the excitement of lifting off and never coming back down, the excessive positivity you felt for yourself and everyone around, is at this point in the time, in the ditch. It all now just seems so empty and meaningless, that you wonder what all the fuss was about and if there was ever any point in it all.

Thursday, you are feeling a bit better.

Friday comes and you are actually feeling pretty good.

On Saturday, you decide to go out partying again.

no body can give you clear answers of all these questions I can say its falling again and again is just mostly because of speculations around this bitcoin :)

Since you are new, think of it like this. 2 years ago you had to multiply a bitcoin by a 1000 to get a pizza. Now you have to divide a bitcoin by a 100 to get a pizza.

No. 2 months ago, you would have to divide a bitcoin by 100 to get a pizza. Today, you would have to divide it by just 50.

Because markets do other than what mere mortals expect them to do. It's actually quite healthy to see price going down while good news is emerging, it's a powerful sign of consolidation where hopefully the innovation and creation put forth during a period of falling value indicates faith by participants leading to a foundation to support future increases in value. Or so the theory goes.

Also, because Bitcoin! After a bit more experience dealing with it, you'll start to get a feel for what I'm saying. Our wonderful Honey badger of a currency don't give a fuck.

So, don't get pizza, use pizza money to buy moar bitcoin, LOL