Bitcoin Forum

MANY WOW :D
How much further is the fall ...

I think 340ish was lower still?

Looks like we'll be testing April's low of $339.  If we brake below that, then the next $ amount I'd look out for is the high of ~$270 from April 2013. The fact we weren't able to stay up after last weeks paypal news just reconfirms the bear market.

This exactly. The huge news from paypal meant nothing. There has to be a fundamental change for this trend to reverse itself.

The winklevoss etf is the only thing I can see that would do it.

Paypal news was built in from months ago.

I don't think we really need any news. This is just another cycle of bitcoin. As long as it's adoption kkeeps going I have no question that we won't continue up.

I'm thinking the winkle ETF could help as well. But I also think this latest Circle news could really turn things around. Give it time, a few months, now we can adopt new users semi-globally who can buy and use bitcoin almost instantly.

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https://imgflip.com/readImage?iid=13036679

I'm new to crypto but seems to me that just as some people were irrational to believe that the price will go up forever it is equally irrational to believe it will not stop going down.  If it goes down then eventually it'll find a bottom. Hell the only reason I bought bitcoin for the first time last week was because I think we might be close to a bottom so I decided to take part.  Today I bought some with circle and it was way easier than my experience with coinbase last week.

Adoption will get there.  I know,  I'm  one of the new ones.

I'm not so sure...

BTC price can be easily manipulated with good leverage using only a relatively modest bank.

If some investor wanted to buy alot of coin then placing substantial market asks and limit bids will lower the price, this is aided by bots behavior in such conditions, bots are selfish and fickle and can be slid around as if on a greasy skillet. Bitcoin market has a high population of bots.

Of course this doesn't come for free, but the point is that the whole market capital value can be adjusted by X$ and it will only cost Y$ to do it, where Y is ALOT less than X. If someone is considering buying a massive amount of coin then it would make mathematical sense to do this.

So if somebody has a good bankroll (modest in corporate terms) and is also privy to knowledge of bitcoins impending rise in popularity ( inside info ) then this drive down before starting to buy is par for the course, it happens often with other securities.

I will add that I am only rambling on :D

If the crypto community were a person, Tropical, he'd be bi-polar.

Mark (IndiaMikeZulu), Australia

With all the good news surrounding Bitcoin recently, this is the only realistic explanation with the prices lately. 

I am thinking to buy and HODL.

The current situation reminds me SO MUCH of the fall from $30 to $3 in 2011... it's almost like history is repeating itself.

Chane OP, it went way lower than 377

And it wil keep going way lower.......

I agree, we don't need any news, and this is another cycle. But it's part of a bearish cycle, and news simply won't reverse that. Maybe masterluc was right... 3 year bear market....

More like 3 year bear market into a crash that wipes BTC out just like that digital gold junk (the first virtual currency) TALK TO ALL THE PEOPLE WHO LOST MONEY IN THAT CURRENCY then get back to me!

There are many that saw BTC much lower then $377.