Bitcoin Forum

BTC DOWN continue?

last night bitcoin price is 281$ now price of 1 bitcoin is 264$ and lossing value continue
see the price of 1 btc - http://preev.com/

What is the main reason the price is drop back to the same rate ? 230$

There can not be any specific reason of daily up down...

think for all the recent hacks which happened. many coins till unsold, or sold for fiat very cheap and then dumped online.
and also most btc-services have to sell coins to pay all bills. as long as electricity and mining hardware so cheap in china it will stay low in my opinion. wait for 2016 when reward half again, then it will technically have more value. but for now is all demand/offer price, you can not say clearly why. it depend on market situation day by day.

Most volume out there are bots or exchanges trading between their own accounts.   December 2013 woke up a lot of BTC whales, who bought and forgot in 2009, and many of these new millionaires still need to dump their overnight fortunes.

BTC isn't going up for a long time.

Isn't today the day 50 THOUSAND Bitcoins are being auctioned off? Seems like people think those buying cheap in an auction will be dumping them soon to get a little profit...

http://www.reuters.com/article/2015/03/05/us-bitcoin-auction-idUSKBN0M11WJ20150305

may be you are right recent hacks effect the bitcoin price
Hacked money all go to the exchange website and then btc price down

There's no reason, the price goes up as long as there is buying pressure. When the pressure is exhausted and people have no more fiat or just don't want to invest anymore, it goes down a bit. Just open a chart at any given moment of any given year and you'll see a similar pattern.

More sellers than buyers!

Such is the life of the speculative digital commodity.

IF you look at the 30 min chart, it forms head and shoulders pattern which signals down trend in the short term

Judging by the calibre of buyers in previous auctions, that is the least likely scenario by a country mile even though it's a beloved theory of many on here.

I didn't say those buying in the auction would actually SELL their coins to make a profit. I said people are thinking they will, which leads to people thinking the price will fall, and wanting to sell why it's "high" in their opinion.

The prices always seem to fall when there's an auction, and then they rise again.

Personally, I can't think of any recent news that's negative, and a few recent positive news stories, which is kind of new. So, that's reason, I would guess it's people who think the price will fall in a self-fulfilling prophecy selling for now and not news fueling the selling.

So you have been here long enough to become senior and you do not know the answer to your own question :/ I mean come on dude its written over half the forum, there was just a mini pump nothing more and now it will go back to what it was..

You're saying Bitcoin's price has never gone up after an auction? You do know, I didn't say that the price rises above a specific price, right? I just said it goes down and goes up. There have been plenty of times when the price has gone up, it just went up a few days ago, lol.

Weren't you the one who created a thread regarding bitcoin's recent pump and dump? Still trying to spread the truth eh?

I don't know any particular reason why is this so. Bitcoin is a speculative asset. No one knows for certain whether the price will go up or down, unless they have enough coins and $$$ to move the price and control it in their own hands.

No one has enough coins anymore to manipulate the market, unless you are on of the few original whales, and even then i dont think they want to risk having so many coins at once in an exchange.

The price correction had to happen, it went from 220 to 280+ in few days, it was bound to have come correction, but the overall market is still bullish.
It probably wont go to 220 again, it has no reason to, since it was obviously not setteling there, so i speculate it will stop @~240, if not higher.

cheers

I would go for $250 just to be safe. If it goes beyond that range, then I call it buy time. :D

270$ now and 300$ soon ! I predict it for this night ! BUY BUY BUY !!!

ohh you are right price is increasing now its 273$ now per bitcoins . Buy bitcoin now price will reach 300$ . but when people will sell bitcoins its again down its a like a game

Don't worry, it's just a normal correction, I assume $300 will eventually come to us before the April.

i think now bitcoin stable on 250-270.

That is what everyone is expecting I guess, stability.
Well, it's just normal as being rebounded towards downside is what needed to get the weaker hands out and then we will be back on track whilst a re-correction will take place and BTC will be more than $300.

no. it s like the name of this board. all speculation. in recent time its not possible to make clear answer for question about reason of low btc-price. it can be 1000 factors. if the community can make userbase and other potential user to use bitcoin regularily (payments, donations, etc.) then it sure go up. but for now we can only speculate.

Why bother with $20 per day price fluctuation. In a few years, the daily fluctuation will be more than $1000.

1000$ lol. I doubt that will ever happen . The high price you are implying would be almost impossible to reach.
Lets just hope for now, it touches 1000 first.

u mad?

Are you expecting prices above 10k/btc and the same volatility?

I think if prices reach such range the mBTC will be default because 1000 variation in a single day is just too much

i never seen any day with fluctuation of 1000$ in a day may be in your dreams

No, it's not down. What makes you think that way. Price has stayed at 270 level for these past few days and probably right now it is stabilizing at current level before deciding on next what is the direction. The drop that you saw earlier could be market correction and it doesn't imply that it's going to be any downward movement for now.

It seems to be inching up towards $280 now.  :)

Check the buy orders ,Imagine what it'll be like after the halving

what do you mean what it will be like after halving!! bitcoin halving is not going to happen till 2016. according to http://bitcoinclock.com/ there is still 72 weeks left.