Falling price of Bitcoin

[mr smith]

What you are witnessing is what has happened several times before.

It's the correction after the over enthusiastic rise.

I find it incredible that Bitcoin has survived so many dramatic rises/corrections and stayed within a logarithmic growth channel.

LOGARITHMIC!

In fact I challenge anybody to find any other security that has exhibited such a behaviour:

Dammit, somebody else noticed

Yah, we were "due" to scrape arse, but in the 400s is a bit lower than I was expecting "naturally".

Thats it this chart has done it for me - i'm going to hold hold hold my 0.1 BTC !

[dpb]

rumors of china ban + IRS taxing in usa.

I thought that the IRS taxing was positive for BTC. At least they are recognizing and regulating Bitcoin and are indirectly saying that the possession and trade of BTC is not illegal.

personally i don't consider anything "tax" related a good thing.

Move out to Somalia if you don't like any taxes.  Live happy ever after.

Taxes pay for

transport (roads, bridges, infrastructure)
research (NASA)
education
law and order (cops, prisons, judges)
housing
sport
culture
Military, defense, national security

If those goods and services are demanded, individuals will voluntarily buy them; there is no need to enforce arbitrary rules on your neighbor's property. These examples are made more expensive by the price fixing and protection of artificial monopolies conducted by the state.

[hilariousandco]

Anyone have any idea what is contributing to the almost relentless decline of bitcoin at the minute? I thought it had got over the collapse of Mt Gox & rumours of a ban in China.

Panic sellers selling on the whiff of bad news whether true or not. That's always the case.

[pinksheep]

what's everyone's opinion - is it a good time to buy more?

[xypos]

what's everyone's opinion - is it a good time to buy more?

It is always a bad time to buy against the trend (currently the trend is bearish).
So, I'd say no

[lightfoot]

what's everyone's opinion - is it a good time to buy more?

Buy when everyone is screaming that the end of Bitcoin is tomorrow.

Buy when others are selling. Buy on panic. Never buy on greed.

[g4c]

what's everyone's opinion - is it a good time to buy more?

It is always a bad time to buy against the trend (currently the trend is bearish).
So, I'd say no

There is no one trend, a price function contains many trends over many time periods.

All time should be taken into consideration when analysing.

The recent downtrend is a "sub-pattern" of the overall fractal like structure.

We are approaching the end of a triangle, and so we will see reducing volatility (tightening).

And then it will break out. The question is will it breakout to the upside?... Well given current market volume and past performance over very similar patterns I think yes.

So yes, now is a good time to buy, sure you may scrape a few more dollars if you're lucky enough to buy the perfect bottom.

[durrrr]

what's everyone's opinion - is it a good time to buy more?

It is always a bad time to buy against the trend (currently the trend is bearish).
So, I'd say no

There is no one trend, a price function contains many trends over many time periods.

All time should be taken into consideration when analysing.

The recent downtrend is a "sub-pattern" of the overall fractal like structure.

We are approaching the end of a triangle, and so we will see reducing volatility (tightening).

And then it will break out. The question is will it breakout to the upside?... Well given current market volume and past performance over very similar patterns I think yes.

So yes, now is a good time to buy, sure you may scrape a few more dollars if you're lucky enough to buy the perfect bottom.

i think that this picture says it all. seriously those patterns are so alike its almost scary and if anyone isnt buying right now then i think they need to rethink what they are doing because now is the time. price will be 5000 within a year