When will price per bitcoin drop?

[BigAmerica]

Hi, I live in the US and just began using bitcoin in July. The very first time I placed on order for bitcoins they were @ $7USD per 1bitcoin and now its up to $13USD per 1bitcoin! Thats insaine! Does anyone have any knowledge or even an opinion of what they think about when the price will drop back down to AROUND $6 - $8USD per 1 bitcoin??

[Pingywon]

Tomorrow. Stand by.

[averybigant]

god knows the answer

[havelock]

It's all market demand as its not linked to any government's financials or physical assets.  It could never go back down to $8USD or it could be $2USD next month.  As BTC matures it will stabilize and less prone to wild wings, but with more and more people getting into it there will be more people buying, which should keep prices at least at the current price if not going up steadily. 

[Korbman]

It will crash over the next few weeks (probably, but who the hell knows!). The price has increased nearly 50% in 2 weeks...that's a lot of instability. And given the bitcoin's habit of being super volatile in spurts, I'd say it's only a matter of time before it goes back to normal.

[2weiX]

right now.
as in: just has.

[morkai421]

As stated above, ongoing process.

Pirate is closing down.. 7% a week doesn't exist. They'll never learn

[Korbman]

right now.
as in: just has.

Can I predict things or what!

The faster it goes up, the faster it comes down...it was $5-6 a coin for months before people went on a buying spree. And you also have to remember that you're not trading with a company or robot (for the most part) like in the actual stock exchanges. You're trading with a person...and when those people bought coins at $5-10 each (or more) and they see it go up to $15, what do you think is going to happen?

[marshall v smith]

it seems to vary a lot

[bitcoinsydney]

god knows the answer

He sure did, and pirateat40 is his name. It looks like he has spoken
http://pastebin.com/PthgrzDS

[FreeMoney]

...you're not trading with a company or robot (for the most part) like in the actual stock exchanges. You're trading with a person...

You sure about that?

[bitcoinsydney]

right now.
as in: just has.

And you also have to remember that you're not trading with a company or robot (for the most part) like in the actual stock exchanges. You're trading with a person...

What makes you think there are no bitcoin trading bots?
https://github.com/chrisacheson/liquidbot
http://code.google.com/p/ga-bitbot/source/browse
https://github.com/rokj/bitcoin_dealer
https://bitcointalk.org/index.php?topic=95760.0
http://bitcoinmagazine.net/trading-bot-runs-amok-on-mtgox/

[Bascule]

pirateat40 has a lot of bitcoins to sell, which is likely to keep the price low.

[dancupid]

Look at the bottom of the charts and follow that as a base level (though bottoms can go down too - and we only have a few data points to go on) - you can expect/hope for exponential growth in price, but anything crazy should be ignored really (exponential growth is already pretty crazy anyway - parabolic is just sick).