Bitcoin Forum

http://techcrunch.com/2014/08/14/bitcoin-falls-out-of-its-trading-range/

The recent narrative around bitcoin has been roughly zilch, as the cryptocurrency picked up a few new large vendors’ support, but otherwise settled into something approaching a summer malaise. The price of bitcoin, which is correlated to media and public interest, has bounced between around the high $500s and the low $600s for some time. Now, it has dropped to $517 and its downturn isn’t letting up.

I am thinking that people are getting nervous about the predicted double digit increase in difficulty. We have bee spoiled for what a month or more with very small increases and next increase people will see a hit to their mining income. For me 500 is pretty scary stuff because now the coin is sitting at the value you spend on electric to mine 1BTC. I will continue to hold.. thru thick and thin because i'm in, it to win it

Yeah I'm personally leaning towards people just spending their money on other things this time of the year.  I'm actually this didn't happen sooner.  I think the fact the Bitcoin is holding strong in the five hundred range is a good sign at the moment.  I'm very interested to see what the next couple weeks in the Bitcoin markets will look like.

I'd love to know why it's happening. All I know is it's disheartening that we seem to be on the up with adoption and popularity, yet the price does this. It's baffling.

I think we should be fine as long as it doesn't go any lower. We need some big news to send it climbing back the other way.