Back to $225

[Nagle]

Well, Bitcoin has returned to its trading range of $225 ± 25, which was where it was for most of the first half of 2015.

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[megadeth]

Nagle, The voice of reason on this forum.

[Nagle]

And here we are, around $225 again.  July's brief bubble has deflated, and we're back to the new normal.

Brief history of Bitcoin:

2013: Wow!
2014: Aargh!
2015: Meh.

[ssmc2]

And here we are, around $225 again.  July's brief bubble has deflated, and we're back to the new normal.

Brief history of Bitcoin:

2013: Wow!
2014: Aargh!
2015: Meh.

2016:?
2017:?
2018:?

Rinse, repeat? 

[randy8777]

the $200 level seems fairly strong, so i don't think the price will go below that any time soon unless the xt drama is going to another level. let's see how long it will take before going back to ~$280 range. it may take several months.

[spiderbrain]

And here we are, around $225 again.  July's brief bubble has deflated, and we're back to the new normal.

Brief history of Bitcoin:

2013: Wow!
2014: Aargh!
2015: Meh.

Nice. Although I would add 2012:Wut?

[btccashacc]

And here we are, around $225 again.  July's brief bubble has deflated, and we're back to the new normal.

Brief history of Bitcoin:

2013: Wow!
2014: Aargh!
2015: Meh.

Nice. Although I would add 2012:Wut?

in 2012 amazing rate

[Raize]

With the blocksize debate, IMHO, now is the time to accumulate. Though it would seem I'm doing it wrong myself. I should be setting buys around 150-200 range on a more reputable exchange and hoping they get filled when people close out of leveraged positions at Bitfinex instead of doing weekly buys.

You can bet the farm that some big player is just waiting to capitalize on the next person to cash out like this former whale who left Bitfinex. My guess, if I had to make one, is that they cashed out of their leveraged sell position first, which means that -- given what happened to the price temporarily last week -- there's a high likelihood Bitfinex really is operating as a traditional bucket shop and betting against its own users. I don't know how any rational observer can possibly come to the conclusion that Bitfinex is anything but a bucket shop given what happened and the positions that were supposedly closed out of. It's a textbook response for the price to have fallen so much so far in such a short period of time. Bitfinex seems very much like Bitcoinica 2.0. Be wary.

[ask]

With the blocksize debate, IMHO, now is the time to accumulate. Though it would seem I'm doing it wrong myself. I should be setting buys around 150-200 range on a more reputable exchange and hoping they get filled when people close out of leveraged positions at Bitfinex instead of doing weekly buys.

You can bet the farm that some big player is just waiting to capitalize on the next person to cash out like this former whale who left Bitfinex. My guess, if I had to make one, is that they cashed out of their leveraged sell position first, which means that -- given what happened to the price temporarily last week -- there's a high likelihood Bitfinex really is operating as a traditional bucket shop and betting against its own users. I don't know how any rational observer can possibly come to the conclusion that Bitfinex is anything but a bucket shop given what happened and the positions that were supposedly closed out of. It's a textbook response for the price to have fallen so much so far in such a short period of time. Bitfinex seems very much like Bitcoinica 2.0. Be wary.

Agree with you. Someone here had similar toughts:

Bitfinex could push prices down to $50. That is true. I believe that they are manipulating with order book in that way that they are putting hidden orders in it.

Actually, their primary business is NOT providing exchange, but manipulating the market by squeezing longs and shorts.

[kwukduck]

I doubt this is the time to accumulate. After last week's quick rebound I had good faith the market was strong.
I was wrong again it seems.
Until somewhere early next year it seems selling is the only smart thing to do. It will probably go down to around 160 before the whole fork drama starts to fade.

[darkhouse9]

I doubt this is the time to accumulate. After last week's quick rebound I had good faith the market was strong.
I was wrong again it seems.
Until somewhere early next year it seems selling is the only smart thing to do. It will probably go down to around 160 before the whole fork drama starts to fade.

Yeah, this seem more like it. $160ish. We are already below $225. I think we've got a way to go yet. This whole fork hysteria will undoubtedly take some time to settle down. I'm guessing a year before we see 260 and above again. That being said, I don't think now is the time to buy. Of course there's short selling but that's a whole other animal. Probably what caused the flash crash over at bitfinex. We are on the downward spiral here. The question is where is the new bottom. I wouldn't really be aggressively buying until it dips below 190. That's just my take on it.

It's startling to me that one exchange can have such a profound effect on the price.

[kwukduck]

What's equally startling if not more... two rogue programmers can mess up the whole thing...
Wasn't bit coin supposed to be resistant to this? XD
I guess it just isn't what we all thought and hoped for.

[Monopoly]

Well, Bitcoin has returned to its trading range of $225 ± 25, which was where it was for most of the first half of 2015.

If another one sells 40 K BTC again it back to price at 2009 ......

[OmegaStarScream]

And this is exactly why Satoshi Nakamoto created the halving block reward , so BTC don't lose the value , all this crap going on right now is most likely because the BitcoinXT .
We need to wait at least one year to see better results when the halving block-reward happens (if nothing happens before that)

[ashour]

Most markets and stocks are crashing at the moment. There are many theories on why this is happening but none are 100% accurate. The price of bitcoin should recover and rise once mass adoption comes.

[BCEmporium]

2009: interesting... what's this?
2010: What? It worth money now?!
2011: (to June) Woww... (After the $30 to $5 crash) DAMN!
2012: Huummm... (near the end of the year) HOLY!!!
...

[Warren Buffert]

2009: interesting... what's this?
2010: What? It worth money now?!
2011: (to June) Woww... (After the $30 to $5 crash) DAMN!
2012: Huummm... (near the end of the year) HOLY!!!
...

And your point is...? Bitcoin stopped rising in value several years ago? Yes, I agree. That is when the Mt. Gox phony bitcoin economy was revealed, and their trade bots exposed. It is also when the global crackdown on bitcoin began by world governments, led by China. Bitcoin rises don't just happen due to "magic" and wishful thinking.

[BCEmporium]

I was just completing Nagles review...
Future is always uncertain, even if drag governments attention wasn't a good thing, we will see what comes at the horizon...

[darkhouse9]

What's equally startling if not more... two rogue programmers can mess up the whole thing...
Wasn't bit coin supposed to be resistant to this? XD
I guess it just isn't what we all thought and hoped for.

quite right. I didn't realize that anyone within the bitcoin community could just decide to alter the code and branch off with a new version. I guess that's part of being open source... it really is a double edge sword. I can totally see it from both sides of the fork, if you will. I think to increase it's life span and broaden the use and apoption of bitcoin the XT guys are on the right track. But, I wish it did not have such an adverse affect on the price. Let's just hope it's short term.

[Sumerian]

And here we are, around $225 again.  July's brief bubble has deflated, and we're back to the new normal.

Brief history of Bitcoin:

2013: Wow!
2014: Aargh!
2015: Meh.

Nice. Although I would add 2012:Wut?

in 2012 amazing rate

2011: Interesting