Hacked at Exchanges contribute to Bitcoin price going lower

[Gladdy]

The latest hack at exchange 796 where a 1000 BTC was stolen recently.  It seems like these stolen coins are quickly converted to fiat that caused the recent slump in bitcoin prices.  There are just more bitcoins being sold than there are demand for them.  It a good time to buy at these low prices.   

[kitarohotono]

that's why you have to hold long term. Otherwise you will lose
I think we might see over 10 000$ long term

[jacktheking]

that's why you have to hold long term. Otherwise you will lose
I think we might see over 10 000$ long term

Well.. Depend on how long is your 'long tern'. I personally don't think bitcoin will went so high In five to ten year. Then highest before 2025.. should be around six thousands.

[Gladdy]

once Gemini is launched by the Winklevoss twin,  price will spike a little.  I believe we will see $100 bitcoin before it reach $500 in the future.

[calci]

The latest hack at exchange 796 where a 1000 BTC was stolen recently.  It seems like these stolen coins are quickly converted to fiat that caused the recent slump in bitcoin prices.  There are just more bitcoins being sold than there are demand for them.  It a good time to buy at these low prices.   

Well 1000 BTC is only around 300K$
 I don't think bitcoin is so week, that the price would see a very Large drop only because an amount of 300K$   was hacked or stolen.

[emelac]

How do you know they where hacked? Without verifiable reserves they could all have just enough to cover day to day withdrawals and be trading nothing but fake coins. No trust is required with Bitcoin so why are all the major exchanges work on a trust based? Its a throwback from Gox and we all know what happened there, there are exchanges with verifiable reserves and using them forces others to keep up.

I hate the trust based system. It's only a matter of time until the next Gox unless we get rid of it.

[Coinshot]

Price is going lower as there is no new money to hold it up. Add to day the inflation and its difficult for BTC.
Unless something big happens which drives ordinary people into BTC its going to get lower and lower.

[SirChiko]

that's why you have to hold long term. Otherwise you will lose
I think we might see over 10 000$ long term

Well.. Depend on how long is your 'long tern'. I personally don't think bitcoin will went so high In five to ten year. Then highest before 2025.. should be around six thousands.

Based on some actual charts and/or info or just an "feeling"?