Bitcoin Forum

Do you think that the price of BTC will go back to 400$ or less ? Was this price of 600$ too much? Is it a bubble popping again?
Tell what you think!
BR
Gondel

If the price drops soon below 450$, then the uptrend is broken and sometime later it will drop below the previous low of 340$.

No it will not. Just relax and wait a week and the price will stabilise back above 600.

It's just the Silkroad coins. The drop is so they can be bought cheaper. Nothing more, nothing less.
Relax, sit back and try to buy some ;)

No, I don't think that the price will drop down to 400$, that's a too big drop !

When the month of June will pass, price will mantain stable above 600-700$ :)

It might not drop below 400$ but will be in the range of 450-600. News of the doj selling the silkroad coins is what has caused the drop but this is good news for the ones who will buy them, so by July the price might hit 700$

Not good news for us others - who won't buy them. If they buy low and we bounce back, they have the opportunity to dump.

Possibly depending on how the markets react to the news
Seeing as a 51% network hashrate is not causing a problem and the market has factored in the sale of the FBI bitcoins
And their still being a general positive sentiment from merchant adoption don't see a drop coming yet :)
When merchants start converting bitcoins to fiat at a large scale though it might put a temporary downward pressure on the price though.

I guess there isn't much we can do as the doj will eventually sell them at some point

Aside from short term price fluctuations, long term it is very good this chunk is held by enterprising people, not a govmnt with questionable motives. Even if they mean no harm, the doubt and fear of a future selloff would remain. Also they can't easily declare bitcoin itself illegal after selling it, which limits further law making to regulate how you do business with it, not whether at all.

If it does I might have to sell my house to grab all those cheap coins.

I agree with that.But atm the moment the first support is around 520$.

it can be Silkroad coins affect or 51% fear but IMO its not going to 400USD again.

Did you mean 4000$?

no, i don't think it will go much lower than it has been going.

$400 is really too low

$600 is not too much, and it's not a bubble, a short while ago we were at $420 and before that we were at $1200. It's not a bubble until it reached at least $2000

But today i see it is keep going down and down every hour. Possible drop to 400$ is comming ( my prediction only)
Wait and the correct time buy! It wil not drop below 400$ for sure !
BR

Nah, $500 is the lowest!!

Nah, 600$ is the right price now. 500$ is too much low for Bitcoin price. News of Silk Road is not so bad !

I think it will go on more decreasing till a visible solution for the double-attack thing is out.

Many people are selling now because they are afraid.

yeas 51% attack is still big problems, until something will be done, Im not too optimistic, also it could shift attention to coins that dont have this problem...

51% attack news and govt selling 30,000 bitcoins bringing the price down temporarily

My 2 satoshi's:

1.) Price likely to continue this downward trend til the 27th, likely to hit the $420 range.  If those that purchase majority of the coins on the 27th have sinister motives price will definitely drop below $400 (but not for very long), if no sinister motives, price should jump pretty significantly right after sale.
2.) Disagree that FBI announcement is sole reason for price decrease.  Plenty of other bad or concerning news surrounding bitcoin atm, chief among them threat of 51%.

This.

People dropped the price to pick them up cheap, not a lot else to it. That's the thing with the Bitcoin world, everyone is aiming to get more and more of them, and so when a large auction like this occurs, they drop the price to try and pick more up.

The price will return to $650 soon enough.

When US inflation starts to bite and EU is forced into qe, moon bound journey will resume.

price will fluctuate and dip more and more each day, untill we get rid of those seized coins, or get some good news for once.
if u look at the trend chart , u can see bitcoin is allmost forgotten behind.
by the end of the month , sub 500 for sure

bitcoin isn't mean for the weak heart.

Going to load up around 300 or less.

Are you crazy man? 300 is too much low !

I think that bitcoin price will drop to 500 :)

Lol, I'll try to remember this post. 300 is too low for what? (They are just addresses on a ledger!). I love Bitcoin and this forum but I'm beginning to think there a lot of crazy people when it comes to Bitcoin.

At the moment, it's shakey startup with .3% adoption that might never catch on. 300 is not way too low for one of 24 million addresses. The rampant speculation of all of this has driven it to outrageous highs!

30$ might right now be outrageously overpriced cost for a Bitcoin.   (let alone $300!)

http://www.my-favorite-coloring.net/Images/Small/Famous-characters-Troll-face-674833.png

Dollar overpriced... 333 000 Satoshi for just a piece of paper.

Hi,
Sure price drop is comming to 400$ for sure! I am very optimistic person and i am sure that the price will go back to 650$ and more, but it needs time. Bitcoin will never die! Believe me!
BR
Gondel

Bitcoin function do not diminish regardless of its price. It will work fine at 650 or at 50.

Technically it does, but practically it doesn't: you are unable to transfer large amounts in fiat value. And that is why the price of a bitcoin needs to go up when adoption of Bitcoin increases.

Transaction fee also go up with bitcoin price.

While it might benefit large institution transfer, it will lose the small payment merchant market segment.


 

A cup of coffee costing 10 USD in bitcoin, if value at 1000 usd per coin, will have $0.50 (0.0005 btc) transaction fee (around 5%).

The transaction fee will be altered accordingly, like it did before.

This is true, but some who bought BTC at price of 650$ will not like the function of BTC to drop down to 50$ :D
And then spend it when it is 50$..everyone will keep their coin when it is cheap and will not want to spend it for nothing.
BR

Won't go under $500, for sure.

Hi,
Why you are so sure about it. Please make a prove about your statement.
Thanks
BR
Gondel

Price is re-bouncing nicely.

Hopefully, we will see 700 in a month or two given that more companies are starting to accept bitcoin as a way of payment.

The TX fee policies are set by the mining pools based on the market.

If the market is not willing to pay a mining fee at a certain amount then they will not and in order for miners to received the maximum amount of revenue they will lower their minimum amount of a fee they will accept for a TX that needs a fee

My instincts tell me that the price is going to maintain it's position but I wouldn't be surprised to see it go up or down at the moment.  I'd expect it to go up but you never really know what will impact the price, to far ahead anyway.

I think it will go down around june 23 for a few days. Until people see what happens with the doj silkroad bitcoin sale. Then I predict it will hit 700 by the end of July. Hopefully higher but I am a natural pessimist.

steve

The same as Steve I see the price going up for a day or two then dropping back down for the auction
Pending the results of the auction and who buys the coins the market could react anywhere from badly to aggressively on the outcome
Anyways still hoping for sub 1000 around 900 by the end of July but that is the optimist side :)

Hi,
Todays price is not dropping at all. Actually we passed 605$ again :D 8)
Hope 600$ is the lowest barrier for BTC. What is this auction anyway? What is so scared about it?
And also lets be optimistic: The price will go to 700 for sure at the end of july and from there it is a rocketship base :D
BR
Gondel

I like to be optimistic, but not about money. In that case I think realistic is the best default.
The glass is not half empty or half full. It is completely full; half with water, half with air.

True that. Going about money with "feelings" and "trust" and stuff is sure way to loose your money. With money, you need to know the facts and act by them.

I got a feeling bitcoin wont go under 400 atleast in the near future ;). 600 seems to be the stable mark

When the gov't sell the coin it has it might hit 450, if it does hit 450 it will not stay thee Lon but I is think we will have a week to 10 days on 500's.

What does everyone else think?

News is factor in already. Coin price stable around 600 level.

$500 seems to be a pretty solid floor. Sure, there may be the odd dip below but price doesn't like hanging around under $500 for long.

It is very difficult to predict the short term price movements to this level of precision

We will have to wait and see what happens. It is unpredictable on this short of a notice.
The price would probably go down a bit but will recover very soon.(happened everytime)

And yes i would like to be optimistic, but not about money!

800$ and more after the selling of seized btc from silk road

no the price is not going to get under 500$ in any way.

It looks like everybody has polished their crystal balls  ;D

I'm not too concerned about short term price fluctuations but it's pretty interesting to see the correlation between trading volume and price drops.

It is around 594 now.

50-70% drop is not uncommon. 100-200% rally is not uncommon also.

That price or maybe $340 will be the bottom by the end of this June due to some political issues, but demand stills increasing and so the

prices...

Yes this will be this year's silkroad event.
Specially if the coins get sold above marketprice (which I really think they will).

Expecting a big boom after the trade. This will probably get more people to join Bitcoin community

I think it will stay consistent around $600 through the weekend, might drop to $550 but I don't think anything more than that!

$400 is a big drop, so I think it's improbable, but definitely not impossible. If four some reason the auction coins get somehow dumped into the open market (which I don't think they will), we could see a temporary price drop. I still think there is  a lot of money waiting on the sidelines, so any flash crash would be short lived.

As always, people like to buy up all the cheaper coins and bring us back to a decent price.

It will stabilize around 2-300$ in the next months, we might have a sharp drop to 80-150$ but after that i think it might stay above 200$.

What makes you think so?
I see that a lot of people are making some suggestions about the price and dont give any reason why this can happen.
Yes it is possible that the price goes taht low if a large amount of coins are released on the market, but this will be for a short time. Then after more and more comanies start to accept BTC it will goes up and up.
BR
Gondel

nobody knows, maybe or maybe not, we will see :) thats exciting

I think the current price is quite stable. The price hasn't peaked, but instead steadily climbed.

Hope so too, but this is not exactly the true. It was 650$ before two weeks and was going near 700$ and now under 600$. This is not a big difference when you have 0.1 btc, but if you have more then 1 BTC you can feel it very drasticaly. People are scared to spend their coins nowadays :)
BR

yeah its steady for now. altho there will be some variance with those fed coins.
but generaly, the lack of development and marketing is quite noticable on all cryptos.

i think were gonna go a bit down due to lack of peoples interest, unless we see something new happening.
we could realy use some good marketing...

In my opinion   too many users have been using Bitcoin so that's why it went to 400 ! think about it!  you get free money! more and more users are being attracted by it! only if it gets more attention by the media and etc it may go higher! like 1000 or more! either way bit coin  will bring a change to the world that's for sure! if it gets the right attention from the world.

No need for a bubble, let's it organically grow.
What I can say is that there is a lot of entrepreneurship in Bitcoin, these will be the one pushing things through. Not the crypto team.
And that's a good thing, we don't need a bubble, but a steady and unstoppable grow.

Please tell me, where do I get some of this 'free money'?  ;)
Not sure I agree with your logic that increased use of bitcoin led to a drop in price.


Now more attention (and probably then use) leads to a higher price? You're contradicting your previous comment.

I find it hard to believe that it could stay below $500 for too long. It just seems to ME that there is too much confidence in the price of bitcoin below $500. People KNOW that anything below $500 is a great deal and it's bound to go up, so most will buy in around that price and prices will go up.

But then again, I'm not an economist.

So where is that free coin?! :D I want that free money! :D
The people who  are attracted by free money often get scammed by giving their own money. Let new users know about BTC, I heard from somewhere that BTC amount is  0.02% from the  money used by the people so we need more support from newbies!
BR

There are a lot of short term variables that could cause bitcoin to be any number of prices over the short term.

Over the long term bitcoin will likely appreciate in value.

Heard a lot of claim that long term price will go up. The wider adaptation with bitcoin is not a sound argument.

China is the largest export country and 2nd largest import country in the world right now. And they have set up bilateral currency deal with many neighboring countries. If wider adaptation argument is used as an argument for long term price to go up, maybe people should buy RMB rather than bitcoin?

As bitcoin is more widely accepted by merchants it should increase in value as more people will need to purchase it to participate in commerce with these merchants as these merchants have lower costs with bitcoin and could lower prices for bitcoin users to be able to realize these lower costs

The buy walls are so massive in the ocean of $400!
I just put a couple buy orders at around $550.

Slow and steady growth is what we need. Bubbles always pop and usually over correct themselves. People invariably panic at that point and the media shills have a field day.

It is going to be interesting to see what is going to happen with the market after the auction.   I could see prices temporarily falling significantly if the coins are sold at a discount.   

Anyone that buys a big chunk could immediately flip them for a profit, and then just re-buy the 3k BTC.

We may see some serious market manipulation tomorrow and the following days

What auction are you talking about???  hmmm...

FBI are selling the confiscated BTC from Silk Road on auction this weekend!
They are selling around 30000 coins and will do it by packages of 3000 coins. The results will be known at Monday so it is very interesting what will happen then.
BTW we are going back to the board of 600$ and going up. Very exciting time to be around BTC :)
BR

now 587$

New on Monday will have more impact as the price information hit public.

I believe the auction is already open now...there was a link somewhere around here with the schedule of the auctions and all that... you can find it on the seized government auction webpage...

excelent for daytrading.
imho , after next week , were going straight up. all of this sideways action got kinda boring.
you cant sell bigger quantity anyways, without risking not being able to buy back in.

At 600 and going up.

Looks like the auction lift the price.

https://i.imgur.com/Xm6TgqG.png
Definitely something change between 27th and 28th. Possible trading day, so we wait for Monday to hear the news

I am kind of hoping for cheap coins out of all this. This market has been making a fool of me for months now so who knows. 

The market is like that when it trades sideways for a while kind of just start getting that panic button and then the oh its bursting out of the bubble sentiment ^_^
Anyways still a fun thing to observe though.

Just need to be patient and wait to scope up when there is a panic.

well i want the bitcoin to go to 1000 dollars and i will sell it on good price or i buy a good thing..

It would be better for bitcoin over the long term if the price simply stabilized.

the price just jumped from 590$ to 620$

yay :D :D :D :D

I would agree. But most are using bitcoin as a speculative asset. So, there are very different expectations between holders of bitcoin.

Do you think we will see $700 by the 4th of July?

I hope so, I think that might be a little too big of a jump though.  Here is hoping, would love to see it sky rocket:)

i dont want the price of btc to 400 dollar agian .. everyone have to hope it will hit 1000 dollars again its a very decent price.. :)

And in the long term, when there are 1 billion users, it will.

Wow we are at $645 currently it may just happen or it will level off for a few days.

This should be interesting.

700 for the 4th would be a nice way to celebrate that day

But yep Chili this should be an interesting few days.

the last time it had a large resistance at around $666 and $680, so it might get stuck there for a few days (or maybe hours or weeks)

right now it's still undecided if it should move past $630 (sustained i mean) or not.

I wholeheartedly expected us to go down for short while with the BTC auctions going on...I still think there is a good possibility that we see a decline in prices for a bit.   I am not bothering to sell any BTC though because I think any decrease we see over the next few weeks is just a temporary speed bump.   I don't want to bother trying to time this market. 

Sounds about right the market has made its move and now is waiting on the results of a public auction before moving upward or downward on the information at least that is what I still think is going on.