Bitcoin Forum

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

Probably because of the news of Gox and the waves of people hoping for a low price of Bitcoin buying in, thereby cancelling each other out.

Still, it feels like the calm before the storm or bull rush.

if you look at all-time history of bitcoin, this is not first time the price appear to be stable.

But you are Dr. Bitcoin ! You have a lot of knowledge about Bitcoin ! You should give us advices instead of seeking answers from us  ???

I'm under the impression that there are large scale investors that can knock the market around quite a bit when they are changing positions.   Until there is more inertia, it's going to be like that for a while.   I think the last estimate I saw was that 80% is held for investment, while 20% is in use as a transaction medium.

it's current value is infinity.  so treat it careful.   :P

Probably the best answer in this thread thus far..

Isn't there something we can do about this?  We've got to find a way to destabilize the thing.  How are all the speculators going to make money if it just sits there?  This is a real disaster for bitcoin.  They should tweak with the protocol a little bit to cause better price swings.  Let's face it, nearly everyone here could give a rat's about building a great system, they just want 'zoom to da moon'.  Bitcoin is for speculators and quick money.  Stability is the enemy.

I know you're being sarcastic, but if you read my original post, which is debatable, I am simply questioning why it has stabilized, not whether it is good or bad.

Ii seems nobody wants to buy. No new money is coming and people already in it are getting away from exchanges not by selling but by withdrawal(see the low volume these days).

All bad press caused by Gox and some others stopped new ppl from getting into BTC, so naturaly, price stabilized and is dropping only on ocasions when someone from one reason or other is getting out. As soon as news get little brighter, you can expect new ppl pouring in and price start jumping up and down.

The smart speculators realized that bitcoin was in a giant descending triangle and sold out long ago. They are waiting for the dumb money to realize this and panic at the bottom.

To me bitcoin is not looking stable, but weak.

So question should be: why is bitcoin so weak lately?

I don't get this mentality. Why are you on this forum if you think this way? Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

1BTC = $600. How is that weak? Something that basically didn't exist 4 years ago is now worth $600.

The lullz before the storm...

The childboard is named "Speculation". Prices go up or down.


Projecting much?


Something lost around 50% of its value and has now no volume.

this was a terribly aggressive response to one person's opinion about the market value...

are you afraid of bears? ;D

edit:

+1

Fortunately one of these two does not apply to me.

Maybe he is referring to weak as in low volume...

600 seems overrated to me...

Maybe it's just current stability with holders, fresh coins and coins not in circulation... Could move downwards in future...

BTC is still a little baby.
Right now the baby is sleeping.
When he wakes up, watch out.   :D

Thought I would go ahead and chime in here.  The exit of Gox in such a spectacularly bad way is going to have a far greater negative impact I believe than most people initially anticipated. 

Always seems like because of one greedy boob or another BTC constantly has to fight off a seriously bad wrap.  But thus far it's always managed to do so and come back stronger than ever!!

Stability is a good thing, it helps bitcoin as a currency protocol.

No more Gox helps.

The larger and more popular bitcoin gets also means the less likely big price swings will happen just due to the size of the market cap.

I think the fact that btc value didn't crash worse with the MtGox incident speaks volumes for btc right now.
 
btc is entering the toddler phase.  There's been a couple big tantrums, but btc is realizing that the world does love it, and is starting to play a little nicer with others.

I think one of the features of VolatileCoin should be random block rewards, at 6 hour intervals (average). 5-20,000 coins per block. That'll shake things up!

Still bearish on bitcoin.

Would wait for 530$ and see what happens there. A breakout to 650 would turn me into a bull.
Can´t see this will happen any time soon.

Compare behaviour of 1d EMAs 7/30 with post bubble behaviour after the previous (266$) ATH.