Bitcoin Forum

The price drop from 380 to 310 could be explained by a series of factors.

1. Recently, global commodity and equity market enter into a "risk off" mode that all risky assets, including bitcoin, are being sold off. You may challenge this by arguing the raise of Ripple. But 50% of ripple is controlled by Ripplelab. Therefore, it is not a free floating asset class and will not correlate with the other risky assets.

2. Year end tax selling. 2014 is a bear year for bitcoin holders. Some investors may want to realize the loss before the year end to gain some tax benefits.

3. Miners quit. Declining price incentivizes small and weak miners to quit and quiting miners tend to sell all of their storage.

4. Chinese future market. Chinese future players are overwhelmingly accumulating short position by futures.

But this declining trend will be exhausted after all and will be definitely turned around by the following factors.

1. Global equity market will stabilize with the announcements from central banks that easing and low interest rates will continue in foreseeable future.

2. Tax selling stops by December 31, 2014. Investors will relocate their investment portfolio in January 2015. Till then, I believe some value investors will start betting on two biggest losers in 2014, oil and bitcoin.

3. Once all small and weak miners quit, the bitcoin mining industry will be controlled by few monopolies. By then, the market landscape will approximate Ripple. The conglomerate of strong miners has the power to manipulate the price to protect their interests. They can do it easily by rationing the daily sale of bitcions, or by heavy public promotion, etc.

4. Too many retailing Chinese bears are shorting the bitcoin. The whales in Chinese future market will start pumping soon and squeeze those retailing bears to death. If they lift bitcoin from 300 to 400, image how much they can make from those 50 times leveraged future contract!!!

I agree. 2015 is going to get wild after this drop.

Thank you Mr. Just Registered His Bitcointalk Account Today for your inciteful opinion.

However I don't think many people here give much credence to faggots who made their account today

So why don't you please fuck off back to reddit you fucking faggot

Why would you say something like that to someone who didn't even say anything to you?

Having a bad day?
Have a snickers buddy.
Not everyone who joined this forum only bought bitcoins as soon as they've joined. Some have had Bitcoins for a while and lurked on this forum as a guest, then decided to engage in conversation. So instead of sounding so unwelcoming, why don't you come up with a educated rebuttle. Given the circumstances of our present situation I agree with OP's thinking. It doesn't take being here from the beginning to be able to analyze markets.

Insightful is insightful, although I agree that far too many noobs have tried to grab the reigns around here having not seen the ups and downs enough. That said, considering all the new trolls that spawn everyday it's nice to have a balancing of opinions because the tried and true spartans can't moderate and control the sentiment around here all the time.

Go to reddit if you want welcoming faggotry.

I have no idea why the mods permit posting from faggots who registered TODAY

This forum is really turning into reddit 2.0

Dude, holy crap. How do you expect Bitcoin to succeed without new users coming in? This is how you greet them?
They are not the problem, you are the problem. Calm the fuck down.

i hope so, in january. price bitcoin be better than now

Welcome to the forums. Good insightful first post you have there.

There are many trolls on these forums, if you look under their name you'll find "ignore" buttons. The sooner you realize its power, the happier you'll be.

When does the US tax year end? I remember someone saying it ended a few months ago for one class of tax payers. Does it end at a different time for other classes?

Tax year for US taxpayers ends Dec 31st.

The deadline you're thinking of was Oct 15th, which is the extended deadline for *filing* one's taxes (April 15th is the normal filing deadline). As far as I know, all individuals' tax years end Dec 31st (regardless of when they get around to actually filing).

Don't agree with solitude approach (expected more from a hero), but this definitely smells like another (although one of the smarter) ripple shills. Bashes ripple a bit to seem legit, then passively mentions how bitcoin will become ripple  ::) that added to being the very first comment  is most certainly a shill. Anyone looking into the onslaught of noobie ripple shills popping all over the place all of the sudden?

I've always wondered what gets you Hero Status.

Turns out that you must have to use homophobic language 9 times in one page.

Did your mother teach you to speak like that?

EDIT:  Or were you describing the term for a bungle of firewood?  Apologies if so, I'd hate it if I accidentally accused you of being a hate filled homophobe.

is there a way to upvote ivyleague to hero status and downvote solitude from hero to newbie?

I'd donate for that.

I didn't realise that when I become a Hero I'll have to uphold moral values. Even faggots can become Heroes if they hang around for long enough.  

I'm assuming this one is still trying to pump doge?  :-[ oh how cute

I totally agree with the sentiment, but don't be so down on faggots.
https://www.youtube.com/watch?v=AjbPhwRoucc

Point is, now is the best time to buy if you want big gains in 2015, you have been warned  :-*