I think it was greece. Because when it showed up that they will get fresh money the price dropped. It dropped again when it was clear they will get some.
I don't think china is involved. Even though they have problems, there is no reason to go into bitcoin. But greece is different. They don't have a currency and want to safe their money. China has a stable currency, no need to go to bitcoin.
i think it was more usual bitcoin traders that got dissapointed after the greece announcement. they quickly sold their stash they bought for at that day a premium.
[/quote
Exactly what i think too. The rise in bitcoin price did not come from greeks finally buying bitcoins, they did not have the money to do so anyway, but they came from bitcoin traders awaiting a repeat of the price rising that happened with the cyprus situation.
They were right. Selffulfilling prophecy.
Well, hype or not being triggered by greece, we are 10 days later and the price hasn't crashed back, we are still holding steady on the 280 area, which is great news. Let's hope for a long period of time on this 280-300 range. I seriously don't understand the people that cannot wait for the ride to start. What's the point? Unless you already got tons of BTC sticking, I don't understand how this low stable price isn't great news for you.
Your'e right. I had awaited that it crashed earlier but i still think the chance is high. The market does not know if it should go up. But no one thinks all is lost too. Unfortunately in these situation, when the volatility gets lower and lower, it will crash at one point. Especially when the flat price line will break the up trendline that way.
Of course it's no sure thing but i think the chance is still high.
