Bitcoin Forum

i have been waiting for the Bitcoin price going up at long time ,what it keep going down?

Be patient my friend, this will not take long.  ;)

when the big hand points straight up and the little hand points straight down. that is the time to... panic!

It's like the stock market - no one knows for sure.  It could theoretically go down forever.

I personally expect it to keep declining for a while.  The current price mostly reflects a speculation bubble and the actual economic need for people to hold the BTC as a currency could be fulfilled at a much lower price (well under $1).  The only ways I see for the price to start going up again are: a) more hype (not likely, I think that one is burned out); b) more merchants accepting the BTC as a currency, which will increase demand.

At moment its just way more people using mining rigs and willing to sell their BTC to get money from them, as actually people are willing to buy BTC to then buy goods with it.

As long as more people flood the market with their mined bitcoins than actually new people comming into the system as users of the payment system, the price will keep falling.

Start reading the economics and speculation forums here.  That's where you'll learn a bit about what makes the market move up or down.  Take it with a grain of salt because a lot of what is posted is either garbage or guessing.  Still, worth checking out.