Why Bitcoin value is going down fast rapidly Now?

[zooyaa]

5 years ago I missed out on the bitcoin train to the top. Back then Bitcoin value was five cents. At that time I feel like if I wanted 5 cents. All I have to do is move my couch cushion around and find $50 of loose change. Now I am educating myself about the crypto currency and its future. I have bought a few equipments to mine for bitcoins. But the value of Bitcoin is going down from $1,1000 to $265. So, I have 7 questions to the bitcoin communities:
1. Why Bitcoin value is going down rapidly?
2.  Did I jump on the boat when its going down?
3. Should I sell my mining equipments because of the value going down rapidly?
4. When will the value go back up or will it ever go back up?
5. Will the next high of bitcoin be higher than the last one in 2013?
6. Did the Bitcoin bubble just burst out?
7. Is this the end for the cryptocurrency Bitcoin?

[amaclin]

1. Why Bitcoin value is going down rapidly?

because it is "pyramid"

2.  Did I jump on the boat when its going down?

yes

3. Should I sell my mining equipments because of the value going down rapidly?

Try to do it. If you can find a person who will buy a ticket for this Titanic

4. When will the value go back up or will it ever go back up?

There can be local maximums in near future, but the trend line goes down

5. Will the next high of bitcoin be higher than the last one in 2013?

no

6. Did the Bitcoin bubble just burst out?

Not today

7. Is this the end for the cryptocurrency Bitcoin?

Not today. But the boat sinks

[TotalPanda]

[WesandEAC]

Never buy things that are falling. EVER.

Only buy things that are hitting new highs.  Go buy the DOW Index or the USD.

If BTC breaks $1100, sure buy some.  Until then I would do nothing.

Ironically, never short Bitcoin

[franky1]

id sell the mining eqipment as soon as its not profitable..

after all if you get a cople hundred for a 1thash now... jst wait a few months and with that same couple hundred you will probably be able to by a multiple thash unit, theres no point holding on to slow units in the hope of a hashrate drop. better to se the funds elsewhere.

as for the price...

STOP looking at crappy exchanges

there are 13million coins and yesterdays drop below $300 was done with less than 1600 coins

thats only 0.0118% of all coins.. why is anyone still stupidly valuing 13.6mill coins based on the movements of less than 1600..

even 2 years ago when mtgox was playing with 5k-10k per orderline and 150,000 a day volume. these days exchanges are only playing with a few hundred at a time and only 50k a day at most.

stop centrally valuing bitcoin based on manipulated exchanges thats gateways in and out of fiat are so jammed up with red tape now that no one wants to use them regularly

[criptix]

Never buy things that are falling. EVER.

Only buy things that are hitting new highs.  Go buy the DOW Index or the USD.

If BTC breaks $1100, sure buy some.  Until then I would do nothing.

Ironically, never short Bitcoin

You know that op did exactly what you said? Lmao

101 of how to lose money

[waaat?]

5 years ago I missed out on the bitcoin train to the top. Back then Bitcoin value was five cents. At that time I feel like if I wanted 5 cents. All I have to do is move my couch cushion around and find $50 of loose change. Now I am educating myself about the crypto currency and its future. I have bought a few equipments to mine for bitcoins. But the value of Bitcoin is going down from $1,1000 to $265. So, I have 7 questions to the bitcoin communities:
1. Why Bitcoin value is going down rapidly?
2.  Did I jump on the boat when its going down?
3. Should I sell my mining equipments because of the value going down rapidly?
4. When will the value go back up or will it ever go back up?
5. Will the next high of bitcoin be higher than the last one in 2013?
6. Did the Bitcoin bubble just burst out?
7. Is this the end for the cryptocurrency Bitcoin?

1: too many new coins - not enough buyers - network is expensive to run - lot of hashpower needs to be paid
2: yes and sold again - don't catch a falling kife. It's better to buy not try to find the bottom as there could be none
3: no, mining equipement will be useful again after bitcoin failed
4: no, i don't think so, not even hope so
5: no way
6: proabably
7: most likely


just my 2 cents - no actual advice  

[Bitmonedo]

1. Why Bitcoin value is going down rapidly?
Some people panic, some people sell because they want and some people sell because the need to cover their electricity bill and that drives the price down.
2.  Did I jump on the boat when its going down?
Well that depended on whether you bought coins before it hit 1,100 hoping to sell them at higher price in that case you did.
3. Should I sell my mining equipments because of the value going down rapidly?
If it is not profitable and you find a buyer sell it I would keep some of it just for the fun of supporting the network.
4. When will the value go back up or will it ever go back up?
Its going up, it is not going to be tomorrow but eventually it will.
5. Will the next high of bitcoin be higher than the last one in 2013?
like I said before it will eventually surpass the price of 2013 but when I have no idea.
6. Did the Bitcoin bubble just burst out?
Yes it did.
7. Is this the end for the cryptocurrency Bitcoin?
This is our new toy and I don't thing we are going to give it up so easily.

[NotLambchop]

1. Why Bitcoin value is going down rapidly?

because it is "pyramid"

2.  Did I jump on the boat when its going down?

yes

3. Should I sell my mining equipments because of the value going down rapidly?

Try to do it. If you can find a person who will buy a ticket for this Titanic

4. When will the value go back up or will it ever go back up?

There can be local maximums in near future, but the trend line goes down

5. Will the next high of bitcoin be higher than the last one in 2013?

no

6. Did the Bitcoin bubble just burst out?

Not today

7. Is this the end for the cryptocurrency Bitcoin?

Not today. But the boat sinks

That.

[IrishFutbol]

1. The big drop was that BTC was a fad.  BTC only hit above $1,000 because of the massive publicity, and the swarm of people looking to make a quick buck.  As soon as the price started to fall, these people fled with whatever they had left.  After all of the ex-Beanie Baby investors left the market, the price was cut in half.  The decline since it fell back to $500 is a combination of use and mining costs.  There's still little to no point in using BTC for transactions, and little to no vendors that accept it.  Additionally, as mining is being more and more done by companies / in areas with cheap electricity, it's no longer profitable for many individuals to make money, so they're just exiting the market, or they're transitioning to altcoins.

2. If something's public news that everyone's talking about, then odds are you missed the boat.

3. Up to you.  You could hold and wait, but the longer you wait, the more the value of your miners will decrease.

4, 5, 6, 7. If anyone knew these answers, they wouldn't tell you.

[waaat?]

Ironically, never short Bitcoin

look at this assclown

[wobber]

5. Will the next high of bitcoin be higher than the last one in 2013?
6. Did the Bitcoin bubble just burst out?
7. Is this the end for the cryptocurrency Bitcoin?

5: no way

just my 2 cents - no actual advice  

Next high of bitcoin will be higher than last one in 2013. Logic.

[waaat?]

5. Will the next high of bitcoin be higher than the last one in 2013?
6. Did the Bitcoin bubble just burst out?
7. Is this the end for the cryptocurrency Bitcoin?

5: no way

just my 2 cents - no actual advice  

Next high of bitcoin will be higher than last one in 2013. Logic.

we're just about to break below the one before the last one - you might want to reconsider

[IrishFutbol]

id sell the mining eqipment as soon as its not profitable..

after all if you get a cople hundred for a 1thash now... jst wait a few months and with that same couple hundred you will probably be able to by a multiple thash unit, theres no point holding on to slow units in the hope of a hashrate drop. better to se the funds elsewhere.

as for the price...

STOP looking at crappy exchanges

there are 13million coins and yesterdays drop below $300 was done with less than 1600 coins

thats only 0.0118% of all coins.. why is anyone still stupidly valuing 13.6mill coins based on the movements of less than 1600..

even 2 years ago when mtgox was playing with 5k-10k per orderline and 150,000 a day volume. these days exchanges are only playing with a few hundred at a time and only 50k a day at most.

stop centrally valuing bitcoin based on manipulated exchanges thats gateways in and out of fiat are so jammed up with red tape now that no one wants to use them regularly

1. A low transaction amount is in of itself a red flag.

2. Does this mean you're willing to buy coins above the price the "broken" exchanges are quoting BTC at?