Bitcoin Forum

Hello everybody,

In last week's there were many good News about Bitcoin, normally the Price would go to the Moon #Dell. But it goes every day down and down, also the Price is not anymore Stable, the Price goes 1 Step Up to fall hours later 2 steps down

The price has never been stable. What are you talking about? ???
It's people shitting their pants over the BitLicense crap. Who cares, but some big whales do, and they dumped like 1k BTC and made the price go down.

It was months stable ever about 480 to 500 euro.
Never heard for BitLicense

Exactly. Welcome to the unpredictable world of bitcoin. Sometime there's no logic in it, but I wouldnt concern myself with what the price is today or tomorrow but where it and bitcoin is going to be in the future.

No, that's not stable at all. And no, it wasn't at 480 EUR to 500 EUR. ($641-$669).
Highest was $670, lowest was $560 for the last month. Seriously. That's not stable at all.
Never heard of BitLicense? You must've been living under a rock, please read the news.

I know that it is not stable, sorry I mean it different than I he wrote it. What I really mean is that it was Months between 480 and 500 Euro.

Just read about BitLicense, but sorry NY that is shit

this happened in october.

what you are finding is that popularity is rising. but the cost of mining is rising too. and ill explain the chain reaction

right now miners and investors who bought at $600 are pulling out their bitcoins and hoarding causing a volume drop. this means the investors who are using day trading buy,.. risking their stash to buy (usually keeping price up by creating buy walls) are not there.

and although volume has shrunk, the fall in price has not been big. in october we seen the $125 turn into below $100 (forgive bad memory)
this was when ASIC mining started and miners were seeing higher electric costs, so were not gonna sell at a loss, thus pulling out coin... like now.

that was a 20% drop (which if done today would see $650 turn into $520).

ok so there are some dumb people selling, but as we can see its a slowwwww movement which i dont see a problem with. because what comes next once the dumb investors have ran out of btc to sell. is that they will buy. and then even they should have realised their initial losses to not sell again at a loss, causing even them to hold.

then as i said there is less and less bitcoin to sell. meaning buyers will have to start eating up the sell wall, causing a price rise ( a price correction atleast. and they wont sell for a loss, so new buyers will continue to buy the increasing sell order prices..

one thing is for sure, if your waiting for bitcoin to be $1-500 think again, id treat this as the moment you buy in below $600 before it starts to go to $700-$1000 soon.

but thats my opinion

Yep, and some whales got scared and dumped around 1000 BTC on the markets. And no, it wasn't months between 480 EUR to 500 EUR either.

I don't have every day time to read the Bitcoin news. I also have a life between NYC and Europe, so it is not easy to be every day online

That seems to be the going theme lately.   I guess it could be looked at both ways...it could mean that there are going to be less and less knee jerk reactions to news in the market.   It will be interesting to see if we still say stable on pricing if we are hit with some legitimate bad news.

Actually, more companies accepting Bitcoin can cause the price to go down, since they basically just sell all the bitcoins they get paid via Coinbase or BitPay. So yeah, it might be that too.

It might seem stable because it hasn't taken many drops/falls recently but that's just a illusion. there will be plenty more drops and rises otherwise I really do fear for Bitcoin.

It's unpredictable at times. And we're now experiencing regular market movements. It's just another day in the crazy world of the Bitcoin price. News like Dell accepting Bitcoin are great, but aren't some magical event that makes us go to the moon in an instant!

Where are you getting the info on the Whales? Is this reflected somewhere in the blockchain? Then I have missed it somewhere for sure.

Please provide evidence of this whale dump. Thanks.

The blockchain doesn't know anything about bitcoin's 'price'. You can see these things when you see the trades on bitcoin exchanges. If they coincide with some news being released, it's pretty obvious what caused a rise or fall of the price.

Bitcoin is a currency that has NOT stable and volatile. Bitcoin often experience extreme price volatility in a short time. Each exit news will affect the price in the market. Just like in the stock market. For expert traders who can take advantage of this opportunity to make a profit.
For those not familiar and new still plunged in the bitcoin world would be a decrease in the price shock that occurs at this time
  According to our past experience,

In December 2013 bitcoin down from $ 1250 into $ 460. Decreased by approximately 63% within 2 weeks.

The decline was triggered when the Bitcoin price lid mtgox.com bitcoin exchanger that used to be exhanger bitcoin BIGGEST in the world and the banning of bitcoin in Russia.

It's might not be obvious, but we have proof that someone dumped a ton of btc.

https://i.imgur.com/TBV1mPM.png

1. Around 4k-5k BTC dumped, pushes price to $591.49.
2. Around 2k-3k BTC dumped, pushes price to $575.80.
3. Arond 2k-2.5k BTC dumped, pushed price to $568.05.

There were more dumps on various exchanges, but i'm too lazy to look at that.

Looks like an initial sell off before a big price rise to me, probably someone profit taking, it often happens note how there's a double bottom forming you have to wait and see whether it levels out now.

The price of bitcoin is always raising and lowering again, it's the way it goes. What matters is what the future holds and how bitcoin can become more well known and more used by other businesses. I personally myself would love to see bitcoin used a lot more, the price it stands as does not concern me right now.

Kprawn is right to be skeptical. There is no way to know by looking at those graphs if the volume was due to one person selling or a thousand people selling. You need data showing what orders were filled, and that might not even be enough.

this just goes to show how unpredictable bitcoin is.. with good news, you'd think the price would go up. if you read today's articles about 1 year ago, without knowing the price of bitcoin, you'd think it'd be rising beyond the moon at this point.

Surely it's a good thing that the price doesnt wildly fluctuate up and down with every bit of good or bad news. I'd prefer a bit of stability or a slow but steady growth.

I don't mind the price drop as long as there isn't any bad news out.

Think there will be lot of positive news for BTC and the price will go up again very shortly crossing the 650 border.
Sure it is the time to buy ;)
Keep holding
BR

Don't depend on news for a means of predicting the price at all times.  It may work at times but nothing is certain.  I recently came across a thread on the forums and the user stated the recent dip was common at the end of the month.  I forget the name of the member or section it was in and I'd rather not guess.

  I didn't look into the claim myself but a quick read of thread and nobody disputed the claim from what I'd read.  So maybe that has played some role in the price.  Maybe others are aware of this and taking it to their advantage point is don't depend on the price doing what you expect it to do all the time. Bitcoin has proven time and time again to be elusive when it comes to making accurate price predictions.  I don't expect the price to go very low but who knows, we could dip and all of a sudden shoot up out of nowhere to an all time high.

Yeah i've been following that too. BTC is being manipulated downwards at regular weekly intervals, often going for the quiet gap between US going to bed and China waking up when market is least liquid. Probably someone playing contracts for difference or other bitcoin derivative. An unregulated market is bound to be subject to this kind of manipulation, and what a great way to launder stolen bitcoins by dumping them on market to depress price, whilst simultaneously taking profit out of put type derivatives!!

There is also an argument that they are trying to trigger collapse by invoking margin calls. Either way, best way to protect yourself against these crooks is don't overleverage, and don't sell no matter how low it drops!

good news would not affect the price of Bitcoin, but the bad news will make the price of Bitcoin dropped.

The Dell thing was a big news among all the bitcoiners, but don't think there was any massive coverage in the main stream media.
Also, those things usually don't cause the immediate effect (of price rise).

In my case, it took me something between 1-2 months from the moment I first heard of bitcoin and thought: "I need to check it out" till I actually did check it out.

It's not like thousands of people unfamiliar with the BTC gonna learn all about it and buy it within few days after hearing some news.

Why is everyone so impatient? Just relax, these things take time.
If you were a billionaire, you wouldn't definitely just be like: 'Oh Bitcoin is cool, let me just invest a billion in it'.

My guess is Ethereum. They are dumping the BTC sold for ether.

Was thinking the same, but that's not true. They haven't touched their BTC funds yet:

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2 (https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2)

I haven't really been following the Etherum news, but that's a lot of BTC. If they dump it lower than market price, it will plummet quite a bit. I hope they don't.

You two (or rather three) miss one point. The further the price moves from where it was, the more action there is. You'll probably notice high volume peaks in most support and resistance zones.

Bitcoin will experience a slow but steady growth over the years. Not everything keeps going up. So what? Buy low, sell high  :D

That's a lot, but will likely be much more. Their IPO period is pretty long. And can't imagine them dumping it all at once, that would be pretty stupid move for them. It's suppose to be a serious, transparent, long term development project (not some anonymous get-rich-quick BS), so they will likely release the funds slowly.

haven't there been multiple bottoms by now? we seem to break all of them!

I like franky1's analysis.  I'm hodling.

Who cares ? Bitcoin doesn't exist to make english-speaking first-world pukes like us slightly richer than they already are.

We have everything, even the poorest among us have running water, electricity, decent food, ACCESS TO BANKING, and internet access.

There are like 4 billion people on this planet who lack some or all of the things I just listed. Bitcoin is for THEM, not for you.

Check your privilege.

This I thought as well, the -10% from dell when using Bitcoin is a good reason to spend some BTC there, thus lowering the Bitcoin price because dell insta sells the Bitcoins...

Just see it as a privilege, for discovering this amazing technology early u might make some easy money and even if u dont, then u still got the technology. Win/Win  ;)

Just like the stock market and even more open to manipulation than the stock market because the "market cap" of Bitcoin is rather small.  Sometimes you don't know why people decide to buy and sell.  It could be something like buy the rumor sell the news, where people sold when there wasn't a big pop after the Dell news.

What you have to understand is bitcoin is a clusterfuck not really in a bad way though. The price fluctuates up and down but it doesn't neccesarily correlate with good/bad news.

Well, sometimes it does.  Like when the crap in Cyprus was hitting the fan and they were literally taking money from people's bank accounts, I think a lot of them were taking their money out of the bank and buying bitcoin with it.  Or else, other people around the world were doing that because there was a fear that other countries would do that.  They can't take "money" that you turn into Bitcoin!

you could look at shorter term charts to tell, but its mostly irrelevant whether it was 1 big whale or many smaller trades.
Speculators are selling...yawn.

It's been $570-$580 for a few days now, the price for good news usually jumps within a few days of the news being released. When more people hear about it people buy in, the buy in just hasn't occurred yet or probably the news isn't that big so not many people bought in = tiny or no price rise.

This chart seems to demonstrate the same shenanigans pulled in the gold market to crash the price (i.e., dumping large volumes recklessly instead of spreading over time to maximize profits). Whether it be central banksters, CRIMEX colluders or HFT parasites coordinating some sort of long/short scam, this shows that BTC might not be immune to manipulation any more than other markets. Sure, this cannot be kept up in the long term, but the short term can be illogical and ugly.

always noobs post that kind of topics   :D

yeah every time. the price of bitcoin is important, but i think for some bitcoiners, that's all they really care about.

Hey i am not a noob, i haven't knowed that NY want to create a License for Shops so i was confused that the Price was dropping, i have no problem with the Price i bought my Bitcoin when they was 50 Dollar.

Still a noob, price isnt "dropping", it's just going up and down like it always does. It's never stable. That's something you should know if you've been around here long enough.

Price is getting weaker for the last 2 weeks.

Bitcoin needs to be fueled by good news to keep it at current level.

Price is far but directly correlated to news.

I guess the biggest factor in the price movement currently is 'the miners.' Remember that they have to pay for electricity (maybe at least a third of mined bitcoins need to be sold for this cost.) Approx 25 bitcoins per 10 minutes, including difficulty increasement.. I'd say about 4000 bitcoins are being generated every day. Over 1000 bitcoins need to be sold. Everyday there must be at least this much buying pressure too.

Also we should remember that most bitcoin-accepters really just exchange the bitcoins straight to fiat currency. This makes a lot selling pressure.. Every day.

what's it like being the only jetsetter without a cell phone?  :D

+1 LOL

I have a Smartphone, but in NYC I have no Internet access only if I find a open Hotspot or I go to Starbucks

What do you think the price will have done by Monday? It's either going to remain roughly the same, or go significantly up or down. I can not predict which it will do, but maybe someone with more experience can.

I expect it to stay within the $575-$590 range, or go above $600. At least that's my opinion, since it really makes no sense to stay this low.
DISCLAIMER: Do not act based on my opinions. I will not be held responsible for any decisions you makunder my opinion.

they're pretty good opinions though

Who would that be, Maybe lives on Hawaii?

Without any news, the prices of most financial assets will not change very much over the weekend as the weekend is not a traditional time to do business and trade. Additionally most announcements by businesses are made during the week. Long story short, it is unlikely that the price of bitcoin will change very much on any given weekend.