Bitcoin Forum

What may have caused this and after the brief rise in value why the dip ?

i told ya many times before, ever listened?

goxed,no one with a college degree will invest any serious sums into bitcoin after MTGOX fiasco, The market is currently only a playground for gamblers and fanatics
51% pool (easy came easy gone easy return)
crackers and governments and shit having 1200k coins(mtgox 200k, Ross Ulbricht 140k, crackers: 850k)
no new money
governments warning and banning
many scam IPOs including Ethereum and others
everyone is selling / spending
Dell / Expedia / Newegg / House dealer / etc are selling in real time
Winklevoss ETF will actually be shot down
GABI is already priced in
Dubai exchange won't create any thing new
etc..



Bitcoin will continue the downtrend, according to a research note by finance giant Citi. The two main factors that the Bank blames for the price going down are miners and merchants. Citi estimates that mining adds around 3,500 new bitcoins ($1.75 million) every day. Because of the ever increasing difficulty of mining, the majority of these coins are quickly liquidated on the market to cover electricity, cooling and other costs.

”If the miners are a steady source of supply and there is no increase in final demand, we have this overhang of bitcoin being sold in the market. In consequence, we have downward price pressures.”

Citi also thinks that the large merchants that have recently adopted bitcoin (DELL, DISH) will be a net negative for the cryptocurrency. Due to regulatory and accounting rules, these corporations can’t hold the bitcoins they receive, even if they wanted to do so. They have to sell them as soon as possible to avoid taking on ”speculative risk”, thus contributing to lower prices.

Its because the large companies instantly convert all their Bitcoin from transactions into fiat currency....

Why people are searching always for reasons? It's too murky and there are a lot of possible reasons, quite probably  "the reason" is mix of all of them and maybe some more that we don't have in mind.

Negative TA is mirroring a negative market sentiment. Negative dynamic is building up more momentum and we get a doom loop.

It will end, when we find strong support, most likely somewhere  between 440 - 300.

The rollercoaster ride starts again.. :)

That crazy bot on BTC-e that's going berserk! I don't know quite yet the exact workings, but I'm sure that the bot is the one to blame! I mean, has anyone provided a thorough analysis and explanation of what is currently happening there?

My first impression is that it looks familiar to this BTC China bot that got exploited (kettled) with bid/ask.

https://i.imgur.com/WkAWy02.png

Price won't dip much. It's obvious something shady is going on and most weak hands are long gone.

Yeah, it's true that most likely the majority of the 'weak' hands has been shaken out by now. But who knows, I guess there's still some money to be taken there. The shady stuff may be due to the bot on BTC-e!

Take a look at bitcoinaverage. 33k volume on btce, 8k on finex and 6k on stamp. This is NOT normal.

Hmm maybe a large whale dumping or a Bot being exploited...
But yes the rollercoaster ride starts once again  :-*

Bot exploiting. Volume will normalize on btc-e.

Compared it another time to the "btc china bot exploit", and it is looking exactly the same. Nothing to care about.

Not again, where is the bull run that was promised :(

Prices now @ $488 possible signs of recovery ???

they lied to you and continue to lie even now :)

You can ask fonsie / dropt / macker88 and other bull scammers to pay you back

GL mate hoping the price does recover.
 probably the worst case of a Malfunctioning bot

Too many cooperate mining farms pop up this year to take advantage of bitcoin.

These entities do not hold bitcoin for the long term, reason we see price keep dropping almost everyday.

why is it when price dips there's all this doomsday concern? It didn't continue falling and it never really held at a low price for long, it always went back straight up to the $500-$600 levels. Next it will go up to the $600-$700 levels with occasional dips into the $500s. As how it was on the $200s then went down to $100s, as how it was in the $300s and went down to $200s, as how it was when it was in the $400s and went down to $300s so forth and so forth. You can't expect it to always constantly rising, there needs to be some push and pull.  

The downfall is starting again but I hope it will stop sooner or later, it can't rain forever.

xD yep

no, bitcoin is going to nowhere but down to where it came from $0.00001
time to drop your hope

bitcoin price $485 now ;O ??? ??? ???

$477 it is

agree, he should cut loose and bounce away with his dead cat.

Have you ever thought about to work as a professional football commentator?

So with more companies accepting btc, we'll see zero soon.

I hate to rain on your parade, but we will stay at this level for at least quite some time! This is definitive!

maybe the markets are pretty much nearly unpredictable at the moment.
BTW prices @ $478.30

I believe this is just a temporary down. They will somehow help to promote bitcoin and more people would buy and keep.

There is a 1700 btc buy wall at 470$, let's see if sellers can eat that one.

here are some little clips to show you the kind of intellect falling possesses



its like asking for advice on what color the sky is, from a person who is blind and knows 10-15 different colors, and just cycles through them, and every time you ask he gives you a different answer, and calls you stupid when you ask how he came up with that color. then once every 2 weeks or so he picks blue, and you're like yeah its blue and he goes fucking crazy and runs around screaming I WAS RIGHT I KNEW IT IM ALWAYS RIGHT.

After the rise to 680$ I wouldn't have ever imagined that we could face a downtrend.

If BTC can go back from $1200 to $450 , then anything could be expected.

i keep telling people like you to sell at $6xx and $5xx ever listened?
$680 and $620 and $580 and whatever are dead cat bounces, do NOT buy in any fake recovers or you will lose money!

Yes you were right, next time I will sell them all earlier...

Sad, the train didn't manage to manifest itself here, I guess. It was a nice runup again to $490, but that's it. Yeah, we need to go further down. I'm actually shorting more now, either this is saving my BTC or I'm just doing everyone a huge favor!

sorry for your lost, damnedest all those bull scammers are still fooling people to buy in the downtrend

Well this is what people call bottom-fishing. You may also call it catching a falling knife... Who knows, but effectively it may be the best way to gain a maximum of profit if the price should recover.
Will you actually be around if the price recovers and achieves a new ATH?

you mean $1250? yes i would be here but that's not gonna happen

Yes. I personally would consider $1164 (Stamp) a new ATH already, since Gox was a terribly sick in its last days, but nevermind. That's a nice gesture of you! And I personally don't know where we are going to end up. Could go either way.

So what do you expect ppl to do, buy high sell low? what a retard!

Falllling is a scammer dont take his advice, ignor him!

better ignore you

In my opinion the price will hit $500 in two days, the recover is imminent.

In two days? Yeah could be... I mean if we're in for a recovery, we may see the $500 already today! I think we're still at a pretty big risk of breaking down at this point, so it remains to be seen which market prevails, the bear market or the super-bear-market.

A recovery to $500? How things have changed in the last one month!

$484 right now on bitstamp, maybe another little dead cat bounce who knows

The trend is down at the moment. We should hit 300$ before it will eventually recover.
And it might take more than 2 days to do so...

500 is just around 5% from 475.

This kind of daily fluctuation is normal even in strong bull market.

Yes, that fluctuation is normal. I was just talking about the use of the word "recover".
Not so long ago, people were talking about "crash" to $500.

Bot malfunction and this create anxiety for traders on btc-e.

Traders may simply sell all positions and hope to buy back when Bot dumped a huge volume again.