Bitcoin Forum

BTC is suffering something very strange. I mean, can someone explain, please, what is going on with the price that stuck between 450-500 USD; is ithis normal or is jut me making a scene?

Bitcoin has nothing to do with its price in USD/EUR/CNY/JPY/INR/GBP etc. This is determined purely by the market dynamics of free market.

In a truly free market supply and demand rule the day. On the bright side sideways movement reduces the volatility that detractors always complain about.

Its because there is a single big seller who is trying to gradually dispose of a large quantity of coins for cash. They sell coins at $500. This causes the price to go down. They wait for it to come up again, then sell again, etc. Whoever it is justs want to sell off their stack at $500. Thats why the price is pinned at that level.

I think it's nice to have a stable price, at least for a moment.

I agree, having a stable price is better than having a price that keeps increasing and decreasing giving us a false sense of hope most of the time. I personally would rather see a stable lower price than a higher price that keeps changing all the time.

I really believe we could go either way now. Bitcoin needs at least a certain amount of acceptance in the common public, and if it should fail to achieve that, it isn't exactly wise to speculate on its future growth anymore. Hedge and wait for a definite bull market. Just my opinion, though...

Yes I agree its working very slow just because of this too much speculations and we are not in good shape need some work but who cares about this

For use as a currency YES
For trading NO

It's just a temporary thing, people cut their loss and are afraid. It's the wrong thing to do. Soon they will all gain faith again and we can continue our fly to the moon!

Oh god. Not falllling clones on the way back up too! :)

This is the right time to accumulate coins, I hope it will be in this range for several months.

Hell, we don't really know what Bitcoin is. It defnitely has aspects of a currency and may also be used as such, but I think of Bitcoin more as some kind of commodity, payment system, store of wealth, and a backbone protocol for other services!

But Bitcoin is a currency, isn't it? (Or, at least, that's its final goal)

Actuallty: Really, does it necessarily have to be one? Everyone expects it to be and act like one, but why? Maybe it's something we have no word for today. It's a weird mixture of currency, payment system, commodity, stock, technology...

There is no way to define the "correct" price for bitcoin. People can use it but not hold it much, so price will be low but BTC will be a sucess anyway.

450 is not more or less strange than 1000 or 200

Yes, it's like foreign currency but there is no country it belongs to.
When measuring Bitcoin against the dollar it can be both money or a speculative product.

It's volatility currently undermines its usage as a currency but makes it a good speculative product (stock).
The more trading, the more stable and usable as a currency.

you are experiencing your first bitcoin "boring season". these things happen. make sure you buy as much as you can during these times.

Btc is not "suffering", it's not strange, nothing is wrong and you are making a scene :)

The hodl propaganda says every year the price will at least double and we are going nowhere but to the moon and to conquer the world.

Don't blame him or others if they feel shoked when the reality makes things seems different. Some people sell too optimistic expectations, and some people buy them.

Honestly, Just hold. Seriously, just hold. And then when the price changes, just hold. The simplest argument is this:

1. Do you believe that the USD/EUR/Rubles/Yuan etc will be printed/created by their respective central banks at will? If yes, evaluate #2
2. When supply greatly increases, do you believe value/price decreases? If you believe yes, then evaluate #3
3. Do you believe that Bitcoin has a fixed supply? If yes go to #4
4. THEN the USD/EUR/Rubles/Yuan will all decrease in value compared to bitcoins and thus the amount of USD/EUR/Rubles/Yuan etc to purchase a bitcoin will INCREASE (bitcoin price will go up)


Obviously there are more perspectives that need to be looked at, and you have to include the possibility of the world banning bitcoin or the internet being taken offline etc etc. But overall if you stick with AVERAGES and no radical changes, bitcoin price should always increase when being compared to a fiat currency that is printed without limits.

It's normal that the price has been between $450 and $500 for a few weeks. What's abnormal is that it has been between around $450 and $650 for many months now. It has been a long time since the last significant shift in price. I am surprised we haven't seen a spike or plummet in price yet. Maybe soon.

There's nothing 'wrong' with btc. It is, in fact, unusual that btc is able to hold on to the current prices even DESPITE all the FUDs. Ideally the price should be higher. A year ago or even a few months back these levels are profitable when difficulty was so low. Nowadays it is barely scraping the margins of production cost and at times even undervalued since difficulty has risen so much. Used to be able to get 1 btc every couple of days now it takes more than a month.

Very interesting. Since I'm investing in Bitcoins I have never seen the price so...let's say still.


Happens when I'm trading, I take chances when the price goes up o fall down. Now the price has a line between 450-500, is like to watch a ping pong match.


Good point of view. I never thought of that. The thing is now is good for merchants, they finally can sell products without being worried about the volatility; Were there another "boring" season like this recently?

That's false, there is a big expense in Bitcoin, that is the PoW mining network. Every year, about $300m-500m are transferred from the Bitcoin eco-system to the hardware vendors/electric companies. If there is no inflow of capital into the Bitcoin eco-system, then Bitcoin will lose value much faster than USD/EUR/JPY etc...

So far, Bitcoin has been lucky, as multiple catalysts has driven huge amount of capital into the eco-system, making the mining cost negligible. But this year, the inflow has slowed down significantly, while mining cost has only went up, therefore we are seeing the price slowly erode, because mining cost is slightly outpacing capital inflow. We will need another catalyst to drive the price up again, and the only two possibly catalyst I see are Bitcoin ETF and the next halving.

Bitcoin can still rise 1000% in one day...  Shit 10 mintues if the right players decide it's time.

I'd highly recommend a small position at minimum right now.

Currency vs. speculative product indeed. Liquidity vs. price. It appears to be a dichotomy until you see Bitcoin's potential. This is where the bears live.
Current usefulness vs. potential usefulness. This is where the perma-bulls live.