Like I've been saying, the interest in bitcoin is falling. This just proves my point.

Prices are too high, china is out, people aren't going to risk dealing with buying $200 dollar bitcoins. I certainly wouldn't.

It does seem that the exchanges are a big winner with bitcoin. Not only the high fees they get for simply moving USD back and forth, but they also have the inside information that we don't  have.

I'm sure they tweak their software to screw you over in transactions also, like when you do a sale they will somehow match the price and take profits there.

I love how you guys show comparisons of a chart when the price was $2.00 vs now when the price is $200 dollars.

Forgetting that if bitcoin rises a hundred dollars now then that is a $100 dollars everyone gets for their bitcoin if they sold. Like that amount of money is going to just flow into bitcoin to buy your expensive, but practically useless bitcoins.

The price is so going to go down. Already volume is dropping and price is falling, not good signs at all.

I can't say $200 won't be breached, you guys are so quickly jumping to conclusions.

First, as the price gets lower it is going to be harder to reach new lows obviously. This is where most people get on my case because even though I was one of only like 5 people who predicted bitcoin dropping from $30-$2.00, I was saying at the time it would reach $1.00.

So naturally people get on my case for not predicting correct a drop from $2.00 to $1.00, but they overlook the fact that I was the only bear from $30 to $2.00. Go figure.

That being said, I still think $200 is too high for bitcoin when adaption and interest is falling.

The price looks to be doing its typical wait before dropping further. It isn't really gaining anymore, volume is quickly dropping. Even on BTCE volume is really drying up. Signs point for another drop. You see, the fundamentals are still there that don't support $200 dollar bitcoins.

I think we are heading for $100-$150 and it will hold that position for a while.

Mostly everything said in this post is what people have said at every price level on the way down.

I don't know what to think at this point.

I think the coin fell quicker than I expected and that it may be a while before going lower.

You also have people sitting with a lot of money with the idea to rebuy in.

I think that adaption and interest is falling in bitcoin so the price should still go lower, but it will take a while for peoples expectations to change.

I would say a rally maybe up to $300's, then volume should start falling and the falls should begin again. The coin is still way overvalued at this point. 

There must be some reason why it is dropping so fast. I wonder if insiders know something is up and are cashing out.

so what is worse me not buying at $2.00 or you not selling at $1000  .

Yes it is very serious indeed. Personally, you would have to be crazy to hope for a reversal and not sell right now while it is still high.

I think people bet big on this ETF. But the SEC isn't going to allow it and for good reason. If they were going to allow it we would have had it already.

For the people still hoping for bitcoin to turn around, please explain why you think this will happen?

The interest in bitcoin peaked a year ago with countless news and the bubble prices, it had its mainstream time. I remember ever single day I couldn't help but read something about bitcoin. Now it seems the popularity has quickly fallen and continues to fall, I can't tell you last time I even saw a new article.

Interest is falling very rapidly, and like one user has reported btce chat was so popular that you couldn't even read it because it was scrolling so fast. Now it is slow as the amount of users have dropped off.

For those high prices you bulls want you need to have a lot of adaption, this isn't happening and is actually reversing.

This is very serious here, and I see no reason why interest shouldn't continue to fall.

For you guys still holding on and taking huge losses you have to be insane not to sell right now. With interest falling there is no way new money is going to come into bitcoin to sustain the prices.

And the ETF? This has already failed and the people on the inside know this already. The SEC is there to protect the public, they are not going to allow something where the funds can be easily stolen just so some bitcoin holders can dump their coins onto the public. Thankgod for that also.

I wrote this in October, but the points are still valid. If you want to minimize your losses then wait for a long term stable price to buy in. I'm still predicting $20-100, but more like $20-50 now.

Bitcoin will stabilize and from that point slowly grow. It has to deflate from the China issues and the exchange issues.

Unless you want to gamble, I wouldn't buy until the price is stable for a very long time, over a year. Like it was around $8-$12 dollars.

The community is small yet large enough that the price should stabilize and trade within like a $10 dollar range.

I don't think it is the exchanges as much as the inherent riskiness of bitcoin. No?

One of the reasons that prevented me from the start of investing into bitcoin were the fact that it was too easily stolen.

The other big reason was that the Government would ban it if it got too popular.

This was years ago I had these ideas and it seems to have been somewhat it's demise. Think all the bitcoin thefts and also China and Russia banning it.

I think the other big reason I had was the coins being stuck at a set number, I don't know how much of a problem that is but it seems to also cause problems being so expensive and people's psychology.

Sets back progress, you have to be kidding me. What progress does it set back by the price lowering? The progress of your bank account.

This is why I love it when the bitcoin price falls.

Progress is made with a lower bitcoin price not a higher price where nobody wants to buy or use the coins.

You can't deny the fact that things are looking very bad. I am seeing what he is seeing, bitcoin just looks like another shitcoin, going the way of all altcoins. They serve no purpose other than what looks to be a Ponzi scheme and get rich quick people trying to push their shit on other people.

Originally I wanted to buy in at $1.00, it hit like $2.03 I believe. Close but not my target.

However, I was the only person at that time from $30 all the way down to $2.00 who really was a bear at that point.

I think I would consider buying some around $10-$50. Only if the price stayed stable for a very long time. I really think that a new coin is going to come and replace bitcoin for #1 coin and then bitcoin is going to die like the rest of the alts and even lite coin.

It is going to take a while because lots of people who sold high are going to buy back in, but that should only temporary halt the decline back to sustainable levels.

IT will be interesting to see what happens.

Yep, I'm right with you guys here. I should post all my posts warning people at $1000, and constant posts thereafter that it is ridiculous how overvalued it is.

Why it will keep going lower is that China is out of the game. I think China was part of the reason it got so high and with them out of the game it will fall back to under $100. There is nobody who is going to throw money into bitcoins to make a lot of computer geeks rich.

The main reason it is going lower is that bitcoin doesn't offer anything that Fiat, visa, mastercard doesn't offer, at least not anything that makes it worth over $100 or even $250.

Like I have always been saying, where is the money going to come from? Miners? Computer geeks? It will come from nowhere, at least nowhere to sustain these very high prices.

After $300 the capitulation is going to be very bad and we are seeing that now. Should test $200's any day really at this point.

Yep I hear you this was long needed. The bulls just got to bullish and arrogant. They will suffer now to 100 and below.

I like it.

They should have known a long time ago that bitcoin is not sustainable at these high levels.

Yes more of these should be brought back. Just stupid people throwing out crazy numbers which make no sense and are totally unsustainable.

I was like the only one posting that the prices were outright crazy and not sustainable.

I mean 5K or 6K a bitcoin. It would have taken a lot of bitcoin holders to hold and not sell. This is why it took so long for the price to fall, too many people had this 5K 40K bitcoin in their mind. Outright ludicrous and delusional.

It is as if people just didn't think it through. The only thing that still baffles me is how long it held above $800 before falling. I would think people would quickly cash out. I guess it was because of the long length of time it takes to get your money out of the exchange.

Now that more people probably are members of multiple exchanges, they can get their bit coins and money quick into the system and take advantage of ridiculous price hikes and cause spikes to happen far less.

Same signs as before the drop below $300. Price tried to climb but failed, volume is slowly getting lower, price is starting to slowly get lower. Bitcoin just looks weak, it looks like it is just ready to drop again. Could be any day now.

The anticipation is killing me. I think it should go below $250 for the next drop and maybe stay around $230 for a while before testing the $200 mark.

I'm thinking $150 bitcoin isn't that far off.

My take on it is that the bitcoin community is right now not that much larger than when bitcoin was $13 dollars.

I also think that fresh money going into buying bitcoins is probably even less right now then when bitcoin was $13 dollars. I just don't see a lot of people going to spend fresh money on $300 dollar bitcoins.

This is why the price continues to fall. The only reason it doesn't fall back to the old levels is because perceived value has changed, people actually think the price should even be higher than $300 so they are not willing to sell them.

But this can only go on for so long, eventually peoples perceived value will change and get lower and lower and the price should continue to fall slowly back to around $20-$50 which is what bitcoin should have grown to in the years since it was $13.

Just my take on it, and I am not sure if perceived value is the right word to use here.

To sum it up, the value is only being held high because people think bitcoin is worth more than it is and not willing to sell yet at a lower price but they eventually will sell it at a lower price with time as the current price is unsustainably high.

Make sense to anybody?

The problem is because you have many people who paid close to nothing for their bitcoins.  If you take the rise from $13 and up, bitcoins were very cheap for the longest time, many people have loads and loads of cheap bitcoins.

What you have now is these people convincing other people to buy and hold so they can hopefully cash out at higher prices. It is really sad but it is money after all, everybody is doing what benefits them even though it is a bad investment coming in at these high prices which are sill very unsustainable as it continues to prove.

There is really no convincing reason why bitcoin should go higher. I guess many peoples real hope was to get an ETF to get the unsophisticated public to buy into it but it seems the SEC obviously knows it is a scam and isn't going to subject the general public to what looks to be a Ponzi scheme, and also for the fact that bitcoin is inherently insecure and everybody who invests in the ETF can lose their money form just a single person having the correct keys. Look at Mt Gox.

You would think that the steady slow drop in price would smarted people up but I guess not, everybody wants to make easy money. Money is not easy to make and buying into bitcoins at this point is a very bad decision as it has already run its course and it's not going to make people rich again.