Bitcoin Forum

The latest dump and consequent slow downward trend has made me realise that the last up trend was not caused by new comers - it was caused by us. If newcomers were having an impact on the price then we wouldn't have this down trend.

What happened is that some guy decided to dump and the bitcoiners stopped buying out of fear.

Let's face it we are on our own right now without newbie buyers. Any sort of mass adoption is 20 years away. It's time to stop looking at the graphs and dreaming of the moon every hour. The moon will come in the distant future when we are old.

Everyone who could be an early adopter is already one. The geeks and foresighted people have already joined. The laypersons will now not join until they have incentives. Thus there will be no more big bubbles in the near future. The rush of people who could have caused a bubble have come and gone. Now all we await is a small trickle of others to join us for the upcoming years. No more bubbles an time soon. Just a very slow and volatile grind upwards. Bubbles will happen with incentives and I see no incentive at all except a financial crisis that entails hyperinflation or banks repossessing money.

Are you not aware there are people making a concerted effort to push the price up, then down, then back up again so they can make money?

Its pretty much common knowledge now.

Bitcoin price changes have nothing to do with organic activity, response to news, or anything you are trained to look for.

Its simply whales playing in the water. 

-B-

It's a fact that there is very little new money incomming at this point as investors tend to invest in Bitcoin related startups, etc.

I agree with BittBurger. Currently whales decide whether the price goes up or down.

And large pools can do one thing very good, and that is unloading large amounts of coins.

This I do know but they can only gain little amounts each time from this - unless they are doing insider trading.

If you push the price up then you need suckers who will buy with you so the whale also has to buy along with the suckers when pumping. Thus there isn't a huge amount to gain if the whale's own buying is a part of the price pump.

You've gotta admit that the bullish sentiment was refreshing though. It was going on for like multiple days.

This is true! Well let's hope it comes back. We need it! Bitcoin needs it.

No, what we need is some Goddamn stability. I don't give a shit if it's at $100 or $1000, but this volatility is what prevents Bitcoin from becoming a usable currency. We had stability for almost a week. That's an improvement, but we have a long, long way to go.

I think you hit the nail on the head, my sentiments exactly. There's no incentive or need for Joe public to use it right now and speculators arent interested anymore. And people talk about how we found a bottom at 166 well In terms of volume it was comparable to February 2014 when it hit 400 briefly, that didnt stop the continued slide down all year.

Stability is what happens when the price eventually tops out. It's speculation all the way to the top. Surely you know this.

You are referring to the technology adoption curve, right? Yes, you are correct. I am just frustrated by the volatility caused by people attempting to make large profits w/o taking large risks. Stop-losses may well prove to be stop-gains.

Log-out for the next ten years or so, and come back, it will still be volatile, until you have strict guidelines for bitcoin and surrounding businesses, you will have insane amount
of variables affecting the price. Stability for over a week you say, well that was probably just pure luck..

cheers

Holy shit, does that mean that I (having bought my bitcoins this month) can be considered an early adopter? Wow.
Personally, I'm not afraid of what the immediate and close future (on or two years?) have in store for bit coin because of two reasons. One being that it has proven a success as a currency. People are willing to interchange goods and services for these bits and bytes on our computers (and other storage media). That is a cold, hard fact everyone must recognize. The second being its structure, usage, features and recognizably; OK, technically more than two things, but I believe that because of it's great programming, the already established niche market, it's immediate transactions (and other useful features) and its popularity/name/reputation ensure that it will live into (and perhaps past) the 21st century.

Out of all the countries in the world at least one will have a major financial incident sometime soon.  Another thing could be if bitcoin is made very user friendly a new type of non tech person could become involved.

And what market in human history has ever topped out to a stable plateau?

I am afraid Mr Ibian, that merely stating what you desperately want the case to be, as though it were common knowledge, does not make your viewpoint a reality.

Moving goalpost but essentially yes. Anyone with just a single full coin will eventually be considered "early". Most people will never have a tenth of that.

Add to this the new coins that are being mined all the time.

Which is happening. Next bubble is due to end of 2016 IMO. Wouldn't be surprised to see it even before 2016.

I'll just leave this right, here.


https://fbcdn-sphotos-c-a.akamaihd.net/hphotos-ak-xpf1/t31.0-8/10982757_10152790709696312_8019134317207035118_o.jpg

New wallets :o I'm convinced

*USERS

Wonderful!

*Dump dump dump

No bud. It's caused by early adopters mostly + help of miners dumping at once to cover costs + merchants converting to USD at once. Actually Bitcoin is bullish market, but those 3 factors are pushing the price down. What you think what would happen if not so many paople believed Bitcoin is technology of the future, it would go straight to 0.

OP might be on point. We'll not see huge gains for a long time. The guys that went rich overnight are living the dream. We'll have to wait until plebs catch up with Bitcoin as they need to get bitchslapped for a long while by banking and politicians until they find a real use for it.

I am not sure about soon but yes in the next few years it is likely that one country will face difficulties.

The bubble may come or may not come. You can't be sure it's just a wild guess.
The fact's are:
-there's no significant selling pressure, so people are holding their coins and becoming less prone to whale manipulation and FUD.
-traders are still trading, pumping and dumping because a volatile market is what they need.

Don't let the emotions take over, Bitcoin is doing fine.

i hope you are right and it's not a very slow and volatile grind downwards.

Well if one country goes down , and it is a big one, then expect the rest to follow. It will be a domino effect

Very unlikely that it will be a big one.

That will only be if its a country like the UK,Europe or China. The rest don't really effect the world economy.

You need to do more research.

Well, at least it's good to learn that the UK, Europe and China are the only countries that affect the world economy. For a while there, I was thinking that places such as Wall St., Silicon Valley, Hollywood, Israel, Saudi Arabia, Russia, Singapore, South Korea, India and Japan might have each had some influence. Live and learn, I guess!

Even if you have a bunch of newcomers getting introduced into the game, that would not move the price so much in a day but we should see it going up in the long run. Just look at the reality... price has been stable around the 230 range for more than a week now and it could only mean whatever new coins getting dump to the open market, would still have buyers buying it back. Else it will drop. And are those buyers newcomers? There's no way to tell. It could be newcomer mixed among the old timers who obviously have absolutely trust in bitcoin.

yes they're doing insider trading.  and so are the actual exchanges.  they can see your orders and will go against the average consensus to make money at your expense.