What happened ?

[RappelzReborn]

I don't think I remember that good the price before I went off the forums but I'am pretty sure it wasen't that low .
So what exactly happened ? what did I missed and what caused the drop on the price ? I was absent for the last couple of months by the way. I don't have that much of bitcoin to be honest with you but ... well it's just curiousity i guess

[gentlemand]

Chinese bots decided they could make more money by pushing prices low?

There hasn't been any radical bad news. There aren't enough people who want to buy it.

[RappelzReborn]

Chinese bots decided they could make more money by pushing prices low?

There hasn't been any radical bad news. There aren't enough people who want to buy it.

So nothing else but bots ?
Because the days before I leave there was a lot of hacking and exchanges going down , most of them was chinese wondering if that continued too

[gentlemand]

I guess hacks happen all the time, but there hasn't been a Gox or a China ban or anything of similar magnitude. Overall the news has been borderline miraculous.

It's a fine demonstration of who's really in control of this market and how much of a hold speculation has over it. Regular folks are few and far between anywhere near an exchange.

[arallmuus]

I don't think I remember that good the price before I went off the forums but I'am pretty sure it wasen't that low .
So what exactly happened ? what did I missed and what caused the drop on the price ? I was absent for the last couple of months by the way. I don't have that much of bitcoin to be honest with you but ... well it's just curiousity i guess

There is a huge gap of posting time for your account there but actually none happening between the time you left the forum and come back. Basically it is being manipulated now , price isnt changing much actually since you left forum.

If you check on bitcoin discussion and economics section you can see that there are alot positive news about BTC but there isnt enough force to move the price up since trader are manipulating it right now

Because the days before I leave there was a lot of hacking and exchanges going down , most of them was chinese wondering if that continued too

Hacking seems could be the reason but it was only a small amount, basically the large amount of hacked BTC from stamp hasnt move yet

[Benjig]

Well there are god and bad news but maybe it just needs time. Right now there is more supply than demand I guess that happened..
Anyways, do not lose your faith and have a part of your money, even a small one, with Bitcoin. Maybe it will be helpful in the future.

[Pab]

There is possible to say bitcoin achieve price stability,or USA economy and EU economy is in stagnation and bitcoin follow

Or be optimistic it is silence before storm

I agrre chinise bots make money from daily trading,but there is also silence before storm

[Lauda]

There is possible to say bitcoin achieve price stability,or USA economy and EU economy is in stagnation and bitcoin follow

Or be optimistic it is silence before storm

I agrre chinise bots make money from daily trading,but there is also silence before storm

Well if you look at the monthly chart, the lowest closing was $219 and highest $243 which seems pretty stable considering what we've had. If you look at the 6m chart the lowest was $171 and highest $379. That tells us that we don't have stability yet.
However I do not believe that this trend can persist. We know that the price tends to depend on the news/major events. It is always calm before a storm.

[Amph]

There is possible to say bitcoin achieve price stability,or USA economy and EU economy is in stagnation and bitcoin follow

Or be optimistic it is silence before storm

I agrre chinise bots make money from daily trading,but there is also silence before storm

if they are indeed making money everyday with trading, it could explain why the swing are becoming more slim each day that pass and why bitcoin is in the current stagnation

[RappelzReborn]

Alright , thanks for all your answers guys .
I'am back now and hopefully the forums will be stable and the price of Bitcoin goes up this summer so I can have some fun

[chriswen]

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

[mrhelpful]

I think people are just fed up with the prices, and they feel its not worth it?

I dont know, but obviously the demand isnt there on what people think so far right now.

[techgeek]

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

is that even possible though?

I`m unfamiliar how bots can change the price, is it since they buy only at frequent times? or false orders?

[RappelzReborn]

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

is that even possible though?

I`m unfamiliar how bots can change the price, is it since they buy only at frequent times? or false orders?

It is possible as far as I know and that's what happened with MtGox when the price raised till 1000$~ or something like that . I wasen't on world that time but that's what I heard , the BOT was named willy AFAIK .

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

It wasen't that low when I left It was like 600$~ on the last summer if I remember right that time I heard of Bitcoin but never had any

[blumangroup]

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

Your right it obviously is not just bots but to be honest them and the whales do play a major part in keeping the price low and the manipulation of rising the price when they have accumulated enough at the lower levels which they are happy with.

I think people losing interest has a part to play also as well as big mining farms dumping every coin they have on the market without as much new money coming into the game. Once we have more new money that can buy up all mined coins plus more then we see a nice rise again.

[techgeek]

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

is that even possible though?

I`m unfamiliar how bots can change the price, is it since they buy only at frequent times? or false orders?

It is possible as far as I know and that's what happened with MtGox when the price raised till 1000$~ or something like that . I wasen't on world that time but that's what I heard , the BOT was named willy AFAIK .

I think its ridiculous to explain the move from 600s to our levels because of bots manipulating the price.

It wasen't that low when I left It was like 600$~ on the last summer if I remember right that time I heard of Bitcoin but never had any

Oh okay, I read something different on with mt.gox.

Something like about phantom deposits, but i`m sure it was a mixture of both. isnt there some tool that exchanges can use to verify orders are from people, not bots? how do you stop this bot crazy orders then.

[countryfree]

I haven't noticed any change in the past month. Trying to think about it, did I check the price of BTC in the last 30 days? I think I haven't. I don't worry much about BTC going up or down a little, I'm in for the long run.

[chriswen]

Well, so you think if it wasn't for the price manipulation Bitcoin would be currently at $600.

[gentlemand]

Well, so you think if it wasn't for the price manipulation Bitcoin would be currently at $600.

It might be $6 for all we know.

[Snorek]

Well, so you think if it wasn't for the price manipulation Bitcoin would be currently at $600.

It might be $6 for all we know.

That is the problem here. We will never know. With this volatility bitcoin is not good candidate for global currency at all. And the worst part is - it can't be helped. Are we doomed?