Is Bitcoin price stabilizing? If so, why?

[ebliever]

Was just looking over the charts at the Coinbase exchange, and it struck me that I don't think I've ever seen such a flat bitcoin chart in the history of bitcoin, certainly not in the year+ that I've been using it. What do folks think? Is this a temporary aberration, or are there reasons for it and can we expect it to continue? Or am I mistaken in thinking this is unusual? Just wanting to hear some perspectives and opinions... and wild guesses on what will happen next? 

[GermanGiant]

Calm before the storm...

[NotHatinJustTrollin]

It's not unusual at all.
We have these threads periodically.



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No, seriously, from time to time these threads pop up, just because it goes sideways for a few days/weeks doesn't mean the price is becoming stable.
When it was at $800, $450 and at $660 last year it went sideways for far longer than now, look at the chart.


The sideways is perfectly normal but it's only temporary before another big move (probably a dump) which should come in 4-7 days. There is no stability.

[1Referee]

People should look further than only the past few days.

Bitcoin isn't stable and won't be stable for plenty of years.

With the current price of ~$220 a small up or down bounce means a few to perhaps 10% price change in only 24 hours.

Low sell orders can make the price go down quite a bit. That is beyond stable.

[batou]

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Wow soon it's gonna be below zero ! 

[ebliever]

No harm in revisiting the question of stability/volatility periodically. I would expect BTC to be inherently unstable so long as the user base was (relatively) small and pricing tended to be driven by specific news/events rather than economic fundamentals or long-term demand. That's what has surprised me a little about the flatness of late.

That got me thinking about something else though - looking at a chart in another thread, it looks like most of the trading volume for BTC is in China. I'd heard this in the past but didn't realize how lopsided the volumes are. (This explains the accusations I've heard about exaggerated trading volumes on Chinese exchanges).

Does anyone have any references/links to statistics on BTC holdings by nationality? I realize there would be a lot of guesswork involved, but knowing who holds BTC would be helpful in gaining insight into what world events might be influencing BTC pricing. For example, if BTC really is a "Chinese thing" now, then a lot of attempts by American or other prognosticators to guess at future prices or explain current price swings might be wildly off base. It might just be due to economic conditions in China and the ability of Chinese BTC supporters to keep purchasing BTC at a sufficient pace to offset the moderately inflationary state of BTC until the next halvening in mining rewards.

[Herbert2020]

nah, i only hoped it was going to stabalize but it is just not going to happen. it is going to go up and down, and up and down ...

[Amph]

the current price i stable, the real price is not, bitcoin price can't be that low, it die now or it get big latter, current value is stupid