What has caused the latest drop > 114USD ( Now 107)

[Aggrophobia]

kncminer & bitfury cashout

[Loozik]

Any ideas?

We'll know next week. Monday is a good day for news releases.

Maybe an exchange was shut down, maybe SEPA froze operations with European exchanges and money sent by people are in limbo, maybe the Bitcoin Foundation started to talk to regulators. Only the whales know.

Or maybe it is just a normal market thing.

[donjonson]

Maybe the price will drop to the point that GPU miner will make to profit due to the electricity price. For me, it is $68.

Could it be that BTC price adjusts in the long-term to the BTC_production_cost + reasonable_production_profit?

[bigdude]

an unlikely scenario but...  what if btc go down to single digit levels.

LOL WINKLEVOSS TWINS!!!

What if Zuckerberg orchestrates a drop like that just to make the Winklevoss twins look bad?

I lol'd ... how funny would that be

[tokeweed]

Any ideas?

We'll know next week. Monday is a good day for news releases.

Maybe an exchange was shut down, maybe SEPA froze operations with European exchanges and money sent by people are in limbo, maybe the Bitcoin Foundation started to talk to regulators. Only the whales know.

Or maybe it is just a normal market thing.

yup!  there's really nothing to get worry about. this downtrend is an opportunity to profit too.

[zachcope]

Maybe the price will drop to the point that GPU miner will make to profit due to the electricity price. For me, it is $68.

Could it be that BTC price adjusts in the long-term to the BTC_production_cost + reasonable_production_profit?

It's the other way round. Bitcoin exchange price is determined by demand (utility as medium of exchange and deflationary store of value). Supply is regulated by the difficulty formula and miner's decisions dependant on price.

[stslimited]

just look at transaction fees accompanying the block reward to see that the number of transactions are not growing in proportion with the number of new coins being generated

more coins than currently necessary equal lower price

also liquidity has gone to shit for the time being, anyone can drop the price of bitcoins by a few bucks

[gambitv]

...and the cycle repeats. Just a bit early today that's all.

[tokeweed]

but in all seriousness, is this 2011 all over again?

what do you guys think right now?  it could be, right?

[Nik1ab]

Not in my oppinion.