Bitcoin Lows Test Cryptocurrency Investors' Resolve

[LakeBTC]

It has been a great year for merchant adoption with companies like Dell, DISH, Overstock, Expedia and Tiger Direct accepting bitcoin … but it's been a rough year for bitcoin investors.

Bitcoin on Monday hit $435, its lowest level since May. It has dropped about 60 percent from its November 2013 high near $1,200.

Bitcoin investors who bought in at the end of last year or most of this year are feeling the pain. Many heard about bitcoin’s $13 to $1,200 run up last year and wanted to make some quick money. A price drop was not the result they were looking for. One Redditor likened the damage to his net worth to the Hindenburg disaster.

The lows can be attributed to the proposed New York bitcoin regulations and to margin traders.

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http://www.benzinga.com/tech/14/08/4792856/bitcoin-lows-test-cryptocurrency-investors-resolve

[Beliathon]

This post is bad and you should feel bad. And it belongs in speculation, since the only thing the article is discussing is price movement of BTC.

[moriartybitcoin]

Mostly margin traders, not NYC regulation ...

[evanito]

Hopefully the price will rebound soon enough.

[jjc326]

Seems like it's doing ok now.  There was some sort of glitch or huge sell order that made price plummet but it recovered nicely.

[hua_hui]

It doesn't matter for the long term investors who have faith in the potential of BTC. Some speculators will be panic-selling and get off the train.

[GreenCoin22]

It doesn't matter for the long term investors who have faith in the potential of BTC. Some speculators will be panic-selling and get off the train.

I agree. 

[franky1]

It doesn't matter for the long term investors who have faith in the potential of BTC. Some speculators will be panic-selling and get off the train.

well it seems for now they have dumped their luggage and got off at the FIAT station. so all bitcoiners wave the fiat guy goodby and leave him in FIAT town.. while move on.

these panic sellers soon run out of bitcoins to sell, and then the price corrects itself. so i am glad the emotional fiat investors jump off early.

[transient858]

It doesn't matter for the long term investors who have faith in the potential of BTC. Some speculators will be panic-selling and get off the train.

well it seems for now they have dumped their luggage and got off at the FIAT station. so all bitcoiners wave the fiat guy goodby and leave him in FIAT town.. while move on.

these panic sellers soon run out of bitcoins to sell, and then the price corrects itself. so i am glad the emotional fiat investors jump off early.

Sooner or later, people will realize how resilient bitcoin is and correction phase will get smaller over time.