Bitcoin Forum

The title is mostly self explanatory :D

Don't say Illuminati :D

Are you under a rock? Must be one heck of a rock.

dude, this is why I posted it in the Beginners&Help section :D

The major reason right now is because the MtGox exchange seems to be having a number of difficulties across the board (usage, communication, management, and more!) and as a result is bringing other exchanges down as confidence slips a little and the price along with it. Dealing with them is almost akin to gambling, and people are basically betting (or not betting) if MtGox is solvent or insolvent (and their price per BTC is somewhere around $150). This is a pretty simple explanation, but there are a lot of other discussions going on which you can check out.

Panic sellers, essentially.

that's what I thought and that's too bad  :-\

I thought Bitstamp would remained unaffected by the MtGox malfunction :(

Some people wanted to book profit. So sold. Bear run. Dont worry. 10k USD by 2015 end :)

I sure hope so :)

Mostly panic selling/sell now and buy later at a cheaper price

the price will goback up wwith more positive media. think about all the negatives that have been going on. to me that just shows how strong bitcoin is overall

Awww. I was gona say Illuminati.  :D

My theory. Mr. unsophisticated investor, meet Mr. unregulated market.

Because change was necessary and good but the transition is going to be a little bumpy. mtgox was a hinderance. Ridding our community of this hinderance creates a vacuum in transition. Ultimately our market will flourish where it previously could not. This is all good news for those who aren't preoccupied with the near term state of things.

No Chinese involved any more eh  :D

Take your pick:

• Charlie Shrem arrested
• Silk Road 2.0 hacked
• Various countries putting into place various restrictions and declarations about bitcoin
• Florida arrest of 2 individuals selling bitcoins on localbitcoins.com
• Transaction Malleability concerns
• MtGox halting all withdrawals for an extended period of time
• General anxiety among people who were hoping for a faster increase in exchange rate
• Panic among those that exchanged money they couldn't afford to risk

I'm sure there are others I'm missing.  It'll all blow over eventually.  I won't be surprised to see exchange rates as high as $2000 per bitcoin before the end of 2014. (of course, I also won't be surprised to see exchange rates as low as $10 per bitcoin before the end of 2014 either).

Early adopters are cashing out..

Wasn't it basically the problems with MtGox that made people sell
huge amounts in panic with the first crash, therefore causing the
price to fall even more? Prices go up, prices go down, it'll probably
stay about this price for a bit and slowly start crawling back up.

We got goxxed hard. I've been watching bitcoin since early 2012. Getting goxxed is nothing new...they are like a cancerous tumor on the whole bitcoin community.

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

silkroad is most certaintly a good portion of bitcoins use i agree with this statement

let as consider reality reall world ther is demund for drugs and ther iz demund for bitcoin so why are you taking silk road bazaar out of the euation

he didn't..

he said without silk road btc is nothing which means he gave SR even greater value then other facts..

A massive sell of BTCs

Mtgox..

Bitcoin is doomed actually , that's the reason @OP

MtGox issue might be the culprit why bitcoin price continue to collapse.

There are many reasons, but I would think that Mt. Gox withdrawal hold was one of the most important ones.

mtgox

Some ppl sell to stop loss and rebuy at a lower price. They lose in fiat but it gives them a chance to increase their coinage

Because people start trading BitGox >><< Bitcoin  ???

If and when gox allows btc withdraws, expect to see a huge crash on all the major exchanges because those who bought gox btc at $95 will gladly sell at $300-600. That's assuming gox is even trading real btc :-\

-China tried to ban
-Russia did Ban
-Silk road BS
-Pending American Regulations
-Media Blitz on all the negatives
-Mt. Gox
-Market became the biggest scam spot in the world
-500 billion shitcoins released
-Network was reported as "broken"
-Every dumbass in the world now knows about it, still known as "internet money"

Maybe?

sellers pressure :)
It is a free market

Check Bitcoin Discussion section of the website, they will have most certainly have the best answers for you.

mt gox yes.