BTC below $200

[aurel57]

Wondering where the bottom will be? And who is selling at these prices??

[Cummins59]

I called this 2 weeks ago and everyone here claimed I was insane. My advice is to Buy BTC now for a short term rally and then dump. When it breaks this support level it will hit $127. Currently there is ZERO incentive to mine unless you have free equipment and free electric. Right now look for every cloudhashing service to bust.

[Parazyd]

Just about everyone is selling.

Miners dumping to pay for electricity, BFL got a court order to pay out all the refunds to people ($8M), but them having only 1.2M USD in fiat.

[Cummins59]

We were going to open with MegaBigPower last year. We would have been fucked and I had electric at .08 and free warehouse space with all electic in place.

[aurel57]

I sure didn't see this coming but will ride it out. Just wonder if it's just the dynamics of Bitcoins for the future?

[Cummins59]

I like BTC but the truth of the matter is that it is only valuable as a money laundering currency where speed, not stability has value.

[Amph]

this is the bottom or jus slightly below that, don't expect double digit, it will not happen

[NotLambchop]

I sure didn't see this coming but will ride it out. Just wonder if it's just the dynamics of Bitcoins for the future?

Bitcoin--Sound Money That's Full Of Surprises^TM

[Cummins59]

So, since you have much more trading knowledge and BTC knowledge, what will drive BTC prices forward?
Ease of Use?
Accountability?
Profitability?
Consumer Security?
Stability?
Acceptance?

Please explain.......

[joesmoe2012]

Looks like its back above $200 now, not sure that it'll stick though.

[HarmonLi]

Looks like its back above $200 now, not sure that it'll stick though.

Never thought I'd be glad to see $200 
But I gotta say... over the last days I was like "that wasn't enough. We need to see a bigger drop. On higher volume, panic, and all." Today it feels like this time it could've been the time. Also, if we fail to break out this time, we will quickly go deeper and don't have to wait for weeks or months, hopefully.