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8up
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May 29, 2015, 10:06:02 PM |
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It is strange isn't it.
My memory is awful, really awful but I can't remember (without researching, digging around etc) a time when the price has been so stable for such a long time.
We've been floating between 220-260 for quite a while now.
Bitcoin is still in it's infancy, it's not like a settled currency is it so I imagine this is just coincidence, a phase if you like.
It'll go up or down pretty soon at a guess.
 credit goes to /u/azop |
Always wrong until not.
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EternalWingsofGod
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May 29, 2015, 11:31:52 PM |
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Is it because all of the weak hands have finally been shaken out and people are just waiting to see what happens now? What are your opinions?
It tentaitively** Could be the bottom but it's been a constant that the price has dropped over the last year, whether all the hands have finally been shaken or if the market is planning an upward or downward rally is hard to say. At the least it seems stable and its down a fair percentage from its all time high so it could be going up from here or waiting for news on how other developments are going before a pattern amongst buyers is settled. A third option is that its finally settled at its operating range for a long time to come still a while to go on this one. *Bottom has been called countless times and it kept dropping *Stability here could still go up or down until a trend breaks |
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cellard
Legendary
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Activity: 1372
Merit: 1250
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May 29, 2015, 11:40:07 PM |
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Is it because all of the weak hands have finally been shaken out and people are just waiting to see what happens now? What are your opinions?
It tentaitively** Could be the bottom but it's been a constant that the price has dropped over the last year, whether all the hands have finally been shaken or if the market is planning an upward or downward rally is hard to say. At the least it seems stable and its down a fair percentage from its all time high so it could be going up from here or waiting for news on how other developments are going before a pattern amongst buyers is settled. A third option is that its finally settled at its operating range for a long time to come still a while to go on this one. *Bottom has been called countless times and it kept dropping *Stability here could still go up or down until a trend breaks At this point the bottom is as low as the whales want the bottom to be. But as of right now, a lower price doesn't benefit anyone, so doesn't a higher price benefit anyone, since whales are stacking up big time on this stable, low price. It's a win win for them, so is for me since im able to get more BTC as well. Say goodbye to making 1 BTC monthly as the average wage guy once we hit 1K again. |
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Cconvert2G36
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May 29, 2015, 11:43:43 PM |
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It is strange isn't it.
My memory is awful, really awful but I can't remember (without researching, digging around etc) a time when the price has been so stable for such a long time.
We've been floating between 220-260 for quite a while now.
Bitcoin is still in it's infancy, it's not like a settled currency is it so I imagine this is just coincidence, a phase if you like.
It'll go up or down pretty soon at a guess.
credit goes to /u/azop Perfect setup for a long straddle. BTC needs more liquid and respected options markets. |
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Bit_Happy
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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May 29, 2015, 11:47:13 PM |
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Is it because all of the weak hands have finally been shaken out and people are just waiting to see what happens now? What are your opinions?
Building a solid base to launch a huge rally; The BTC fundamentals are way too strong for the rally to be delayed much longer.  |
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Alley
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Merit: 1000
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May 30, 2015, 02:47:59 AM |
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Big players are fine accumulating small amounts of coins everyday out of the 3600 mined. And doing so things are quiet and price stays low. Can only keep a lid on price for so long though.
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manselr
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May 30, 2015, 04:57:44 PM |
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Big players are fine accumulating small amounts of coins everyday out of the 3600 mined. And doing so things are quiet and price stays low. Can only keep a lid on price for so long though.
Yeah, thats exactly what they did with Vertcoin before the recent megapump, whales adquiring a lot of cheap Vert. Same they will do with Maidsafe, get tons of MAID for months while the price is low before they skyrocket it. |
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pooya87
Legendary
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Activity: 3430
Merit: 10505
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May 30, 2015, 05:05:01 PM |
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i think it is partly because most people who though they can become millionaires from bitcoin in one night gave up and left the scene.
on the other hand i think mostly people are accumulating and since there is good buy supports the price doesn't go much lower than this.
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Febo
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May 30, 2015, 07:00:41 PM |
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i think it is partly because most people who though they can become millionaires from bitcoin in one night gave up and left the scene.
But where are they? We need to get them back? Where they go? Those that fairly understood what Bitcoin is, i doubt will forgot about it anytime soon. |
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1Referee
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Activity: 2170
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May 30, 2015, 09:49:37 PM |
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i think it is partly because most people who though they can become millionaires from bitcoin in one night gave up and left the scene.
But where are they? We need to get them back? Where they go? Those that fairly understood what Bitcoin is, i doubt will forgot about it anytime soon. I hope these get rick quick noobs will stay away. They clearly don't know how markets work. We don't need them back. Big players are fine accumulating small amounts of coins everyday out of the 3600 mined. And doing so things are quiet and price stays low. Can only keep a lid on price for so long though.
Big players have already bought in a long time ago. Currently it is a great time for small traders and believers to buy in before they miss another train. |
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gentlemand
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Welt Am Draht
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May 30, 2015, 10:11:30 PM |
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But where are they? We need to get them back? Where they go?
Those that fairly understood what Bitcoin is, i doubt will forgot about it anytime soon.
There's a world of difference between people who actually believe in Bitcoin and those who piled in expecting tenfold gains in a month. There will always be a lot more of the latter and they'd be buying solidified lumps of baby vomit if they thought it would make them the same gains. I think we can lump most of the Chinese buyers into that category. The government made sure they had no other use for it. |
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Octavius
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May 30, 2015, 10:13:16 PM |
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1W MACD is green = get rich quick!
It's just stupidy and greedy like someone said
"Greedy people try to get rich quick but don't realize they're headed for poverty."
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volatilebtc
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May 31, 2015, 06:05:02 AM |
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May be due to the hack of bitcointalk forum. Its a level where bitcoin alone is fighting against all altcoins.
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anderson00673
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May 31, 2015, 06:47:08 AM |
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I don't think anyone knows for sure why the price is stable. But I think the more stable the better. Slower price growth should be favorable to wider adoption, which in turn should eventually lead to much higher prices. At least that is my theory but I am willing to admit that I could be wrong.
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inca
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May 31, 2015, 08:04:43 AM |
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Supply on exchange equals demand on exchange.
I think this is the phase where bulls just need to hang on.
At the end of a bear market it always seems no one wants the commodity in question. Heavy accumulation is taking place now. Another pump in bitcoin is near certain at some stage given how trivial it is to break the trend and set off a buying frenzy. This time round there are many more on and off ramps. Should make things extremely exciting and the challenge will be hanging on to your coins!
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