Bitcoin Forum

This raises a good question:
http://www.finance-guy.net/finblog/bitcoin-price-extends-losses/6/10/2014

If selling continues, then how can the price bounce back?

What do you think?  is this a time to buy in or is the bottom still ahead?

It's always amazing to see how people so easily become afraid and loose confidence so quickly.
In the market is normal that price sometimes go up, and sometimes down.
but, average people, when they see that price went down for 10, 20 or 30 %, become scared and in panic trying to sell everything, loosing even more money in this way.
In my opinion, now is the best time to buy bitcoin, not sell, because price is already very low.
In fact, this is great opportunity to collect more bitcoin for very cheap price :)

Well, I think the bitcoin community will bring the Bitcoin price back very soon. I still trust Bitcoin and I will support the growth of Bitcoin.

I agree,

This might not be exactly the bottom as no one can predict bottoms and tops but nothing significantly bad has happened to Bitcoin to justify the price fall. I expect a rise again (at some stage) and buying now takes your average bitcoin price down if you bought high.

Hopes, dreams and speculation without solid reasoning, just like nearly every other major price move on a crypto.

Have no much more money get into the related industries about BTC!

In stead of companies accepting Bitcoin, companies who NEED bitcoin....

People getting paid in Bitcoin would counter the companies converting bitcoins to fiat.

Some really positive news is needed to push up the price. Such as Chinese goc cancels the restriction to financial institutions dealing with bitcoin. Or Chinese banks embrace the bitcoin payment.

I guess a lot of those who sold higher will buy back once they believe that bottom has been reached. We probably have seen some of that during the last 24 hours. Volume has been at 750K. Sellers are running out of steam.

I will hold my BTC for long term :) I don't care about current rates of BTC because this fluctuation in rates like last year was go up to 1200$ then we guys have to wait for it :) I am sure it will come back soon to track of upward looping :)

This.

This would be the rocket we've all been waiting for.

mass adoption. that is all.

patience, the infrastructure is increasingly capable to cater for it

When merchants in eBay are actually able to use BTC to recieve payments. Then maybe people starts getting aware of what Bitcoin is and start using it, provided it has real benefits against good ol fiat.

Capitulation of a lot of unexperienced 'investors', or better speculators. Well, there is a ton of FIAT on the sidelines now, very ready to be put into BTC again, which will happen as soon as we find the real bottom! If that happens, we will see another rise, increased media coverage, and thus a new bubble!

My thoughts and hopes exactly, this time I will see profit 2!!! ;D

Price will raise up by itself. Nothing special will need to happen.

Time.

Now that the big selling pressure is relieved, I do believe we will go upwards for awhile.

The fact that more people are willing to buy than sell :)... there are more and more ppl wanting to buy thus it will go up even in the face of big sellers.

Pretty much all the big countries (Russia, China, India) are banning or putting a soft ban on bitcoin. Can't see how bitcoin can gain significant market base in the future.

48,532 JAPANESE MERCHANTS CAN ACCEPT BITCOIN IN NOVEMBER WITH GMO
https://www.cryptocoinsnews.com/48532-japanese-merchants-can-accept-bitcoin-in-november-with-gmo/

If China bans Bitcoin any more they'll have all of the bitcoins.

Well exactly how wealthy do you think people are in those 3 countries?
They may be big, but quantity isn't everything. Do you really believe that if Bitcoin (I'm saying IF) is adopted by most of the world, that those counties would keep up their bans?
It would be same if they hadn't adopted CCs, where would they be now?  ::)

Of course the price will go UP at some point. Why are people so scared my question is?

These countries do not have full capital account convertibility and bitcoin can pose a threat to that. I can only see bitcoin adoption increasing in these countries.

Understandable. They had us in the yoke. Inflation tax. Interest ridden debt money. And now the promise of total control through the "Cashless Society". More power than even Stalin could dream of in his wettest dreams.

Before Bitcoin came along, I was certain that we are headed for perpetual totalitarianism and tyranny. Bruce Schneier has it partly right. The business model of the Internet is not only surveillance, it is also control. Now that Bitcoin arrived we are presented with a choice:

• Do you want to grant the government a veto right on each of your transactions?
• Do you wish to vastly extend the governments practical ability to tax you through complete transparency of ALL your financials
• Do you want to grant the government the power to exterminate anyone at any time by simply ceasing to cooperate with that individual?

O Yes (use govt controlled e-money)
O No  (use decentralized money)

This should answer your question: Bitcoin will gain market share if people vote NO.

Do the opposite of what you think, and you may come out on top.

There's discussion in China of reducing exchange controls on yuan. But if China reduces exchange controls, people with yuan in China won't need Bitcoin. The China bubble was because, for a brief period, Bitcoin was a safe, legal, remote way to convert yuan into dollars or euros. The previous legal approach was to get all your relatives to travel to Hong Kong every three months, loaded up with the legal maximum of yuan notes. This is a pain if you're not in Shenzhen.

If you have no idea what the above is about, you probably were screwed by the collapse of Bitcoin prices.