Bitcoin Forum

I've been noticing a strange thing for weeks now. If you open Google News and search for bitcoin, most of the articles are (very) positive: new Bitcoin ATMs showing up here and there, new people and organizations supporting Bitcoin, stories about people who became millionaire thanks to Bitcoin, etc. OK, there may be some negative articles, especially in the last week, but most of them are not.

Nonetheless Bitcoin is falling and doesn't seem to be wanting to stop.

Did you notice this as well?

THERE were good news before and there will be many good news for bitcoin everyday! :)

Just bad news are usually more loud.

You can read a hundreds good news for bitcoin around google from few years - and it is every day.

weak hands who do not totally believe in bitcoin's future and who are just day trading are selling

time to buy up for the next 5 to 10+ year horizon

No new adopters.  No incentive for current users to buy more and spend em.  Need discounts for using btc since merchants are saving on CC fees.

Miners are cashing in most of their mined BTC (3600~4000 every day) to pay their bills as difficulty increasing mining is getting more and more costly.

4000 BTC at 400$ each amount for about 1.6m$ every day.

You need a really strong buying support to get over that.

Could just be a gradual decline in interest caused by a lack of news. Not everybody that has had the Bitcoin experience have become die hard Bitcoin fans.

http://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban/
http://www.coindesk.com/price-bitcoin-remains-500-amid-china-uncertainty/
http://www.coindesk.com/chinese-central-bank-officials-discuss-bitcoin-new-rumors/
http://www.coindesk.com/btc38-suspends-trading-cites-china-central-bank-guidance/
http://www.coindesk.com/deposit-freeze-chinese-exchanges-drives-bitcoin-price-below-400/

No, no bad news at all. I haven't even bothered to get all the links.
Try spending some time searching.

Profit taking and the regular Sunday sell off in china.

heres an idea, don't focus on the latest trends and news but take some time and study historical charts for btc. i doubt we'll ever see below $400 again. appreciate the fact that you have the opportunity to buy damn cheap coins.

Dude, did you even bother to read my post? I'm not talking about Coindesk, I'm talking about Google News which is a WAY broader source of news. Not even comparable to Coindesk.

while you was typing these words, price crashed below 400.

Well, what can I say now :p

i agree.

(miner farm)
http://www.threebluedots.gr/picts/Bitcoin_Mining_Farm_Logo.jpg

This is the bust pattern of the boom-bust cycle of every bubble

Looking at BTC-E, there seems to be a lot of dumping in the past 4-5 hours. Before that happened, the prices were stable. The dumping decreased the exchange rate from $420 to $380.

Coindesk is the best source of crypto news for people interested in it, and thus, most people read what is there.

The masses learn about what happens in the Bitcoin world on the mainstream media and websites. 99% of the general public doesn't even know Coindesk exists.

Do you read my lectures on their forum, 3 months ago you would know all.

Here are all my exposure:

My old threads with my analyzes, who recognized at the time, he is profited.

https://bitcointalk.org/index.php?topic=400001.0

https://bitcointalk.org/index.php?topic=374935.msg4014576#msg4014576

https://bitcointalk.org/index.php?topic=420005.msg4563711#msg4563711

https://bitcointalk.org/index.php?topic=419207.msg4553769#msg4553769

https://bitcointalk.org/index.php?topic=467191.0

Is there any evidence that actually supports this ongoing claim?

It is totally illogical to sell your mined coins when difficulty is going up and value is dropping.
Especially when bitcoin has a low usd value you'd try to save as much as possible and only sell what you absolutely have to to come by.

Either you are mining because you believe bitcoin will be worth a lot more in which case you are doing the same as those that buy and hodl or you mine to sell for usd and in that case it might make sense to hold back some/all of your mined coins until the value rises again and you make better profits.

+1

$405 right now on BTC-E.
...update
$401.7 right now on BTC-E.

The "general public" does not own any bitcoins, so therefore they cannot affect the price.

Normal pattern: Weekend slump + retesting the recent low.
It's already back up now.  :)
$412+ less than a 1/2 hour ago.

Normal fall from 1240 to 400 usd ?

That's the thing about skiing Mt. Bitcoin (Not to be confused with MtGox). Once you take the fun ride to the bottom, you get to hit the triple diamond slopes again.

Ride it out. 1240 to 400 was to be expected with people taking enormous losses from Gox and the looming threats of regulation and taxation. Now the regulatory and legal issues are less frightening, more real, and less rumor. Mt.Gox is gone, and has left us with a much wiser, broader audience and user base.

I'm not going to speculate....

No. Really. I'm not.

But Bitcoin isn't at it's new stable price point. Far from it.

Yes, that is also normal for a speculative market.

Why is there an attitude that every bitcoin price movement should have something to do with "news"? That is ridiculous.

Exactly. Plus there is bad news on Google too; 'miners facing substantial losses', 'bitcoin bound for guns and gold crowd', 'Bitcoin firms dumped by Australian National Bank', etc.

If you sold the coin, you are realizing the loss, thus would never make it back. So the wise move is to stop the miner so that you don't need to pay the bills, and then buy the coins

Including previous holder's cash out, there should be several thousand BTC for sell every day, but 1.6m$ every day is really nothing if you comparing with FED printing 2.5b$ every day

Yeah there does seem to be a lot of negative news, yet the price does not seem to reflect most of this. Amazon says "no", but "Tigerdirect is now accepting bitcoin".

All begins with one huge DUMP.