[2014-07-31] Why The Bitcoin Price Is Going Down

[ganabb]

http://www.cryptocoinsnews.com/news/bitcoin-price-going/2014/07/30

Possible reasons for why the Bitcoin price is going down:

    Dell is selling their first bitcoins.
    The whales (big Bitcoin holders) are selling.
    Investors think Bitcoin is still in Bubble territory.
    There is no real reason to go up, and crypto in general doesn’t seem to like stability, so it either goes up or down.
    A lot of people have their summer vacations right now. People who hold BTC sell some to get money for travel and vacations.
    Miners are selling and no new investments are being made.

[Bit_Happy]

Bear trap:
People will truly regret selling at a time when it is obvious that Bitcoin is growing quickly in many parts of the world.

[Quantus]

Benjamin Lawsky
 

[patrike]

"Dell is selling their first bitcoins"
Isn't Coinbase converting Bitcoin payments directly to USD for Dell? How could that affect the price if they do it almost every day? Is that assuming that the Bitcoins used for making these payments was simply hold for a long time and wasn't used - and now they are available on the market?

[Kprawn]

I have been looking for big Whale dumps on the blockchain, and see nothing. Nobody is reporting this on Reddit or any of the other forums, so I doubt if that is the reason.

In my opinion, when Dell accepted Bitcoin as a payment method, lots of new products became availlable to be bought by bitcoin hoarders. {Huge LED TV's / Notebooks etc} Dell convert the Bitcoins to fiat and that is where the price goes down on exchanges.

The positive impact from Dell's acceptance of bitcoin, will only be seen, when more people change from using traditional payment methods, like credit cards, fiat and debit cards to bitcoin.

And the only way that would happen, is if Dell rewards people, who use bitcoin, with discounted prices as a incentive to move away from the traditional payment methods. {And this conversion will take much longer}

So for now, we will see a huge drop in the price, and then it will pick up, as demand for bitcoins increase. {But there needs to be a incentive for them to change.

[asdf]

Well the bitcoin economy is growing and there are more merchants, goods to buy, services, etc. Maybe hoarders are actually starting to spend their bitcoins.

This is bringing coins, previous out of circulation, back into circulation. Effectively the market is being flooded with extra coins.

Just a theory.

[newguy12]

Bear trap:
People will truly regret selling at a time when it is obvious that Bitcoin is growing quickly in many parts of the world.

+1

If anything, this is a tremendous opportunity to buy them cheap before it shoots up again!!
It's clear that BTC isn't going anywhere, and we're still at an adoption rate of only 1-2%.

[ClutchThese]

Bear trap:
People will truly regret selling at a time when it is obvious that Bitcoin is growing quickly in many parts of the world.

+1

If anything, this is a tremendous opportunity to buy them cheap before it shoots up again!!
It's clear that BTC isn't going anywhere, and we're still at an adoption rate of only 1-2%.

Yep, basically this. I'd love to just dump a ton of Fiat into bitcoin right now. This is a price that we may never see again!

[GenTarkin]

Yep, basically this. I'd love to just dump a ton of Fiat into bitcoin right now. This is a price that we may never see again!

Yeah, that could go both ways. =P