$470 -> $420 Starting to crash? Or short term adjustment?

[TERA]

Can't go down to much past 400. Have you seen the difficulty? Its going crazy and miners cant fine for free. They add hash power with the intention of selling for the price at the time that they added the GH/s. I think what we're seeing is organic upward pressure, increased positive news coverage, and amongst the financial community at that; those guys have money, right?.

Coupled with the fact that its's becoming more and more expensive to mine for a profit, especially since the halving is coming up.

Brace for launch long term (and great volatility 2016).

This is exactly what was said at $800 in 2014.

Well, this isn't exactly 2014. But, It was my understanding at the time that Gox took the price down with it. In the week before Gox went down it had the lowest price out of all the exchanges and that caused fud because it was normally the leading exchange in both price and volume. Feb 8th is when news of bankruptcy was official and the price was downwards decent from there until now

What I'm saying is that the same argument about cost of production in mining was being used, when it is in fact irrelevant. The cost of mining in no way will support the price. Where does this price support money come from? Who is on the other end of the trade when someone sells coins, a miner? Miners can also sell at a loss, or they can stop mining until the hashrate drops so that it's profitable to mine again. However, the most impactful thing as that there are 14,000,000 coins other than the new ones being mined. It isn't just miners who sell.

[1Referee]

The price at Bitstamp reached $467.8 and tanked to $403 after that. That was a massive dump. I hope the people that wanted to dump have done it, and are satisfied, if so, we can rise further the comming days. If they have more coins to dump, then it can be a lot fun 

[MTBTT]

The price at Bitstamp reached $467.8 and tanked to $403 after that. That was a massive dump. I hope the people that wanted to dump have done it, and are satisfied, if so, we can rise further the comming days. If they have more coins to dump, then it can be a lot fun 

Why do you guys think that a huge price drop of $50 is fun? I just fail to see the logic behind it.

Perhaps you guys are day traders? That would explain it.

[TERA]

A drop of that magnitude was neccessary to reverse the short term trend downward so that the chart has enough time to fill in before the next leg up. Any less of a drop and it wouldn't turn, it would just keep going, which would be bad.

[Amph]

don't fall again for another bear trap like the last one, this is exactly the same thing happened from 380 to 325, still people are so naive to fall for these shit

i would buy from this point as much as possible, there will be another pump to surpass 500 next time

[1Referee]

The price at Bitstamp reached $467.8 and tanked to $403 after that. That was a massive dump. I hope the people that wanted to dump have done it, and are satisfied, if so, we can rise further the comming days. If they have more coins to dump, then it can be a lot fun  

Why do you guys think that a huge price drop of $50 is fun? I just fail to see the logic behind it.

Perhaps you guys are day traders? That would explain it.

I am a day trader, yes. That's why I enjoy seeing these massive dumps happen from time to time. It allows me to make a nice profit. But I also understand that it's not fun for people that have bought at the peak and now see the price is much lower. Just hold, it will go up again for sure.

[MTBTT]

don't fall again for another bear trap like the last one, this is exactly the same thing happened from 380 to 325, stil people are so naive to fall for these shit

i would buy from this point as much as possible, there will be another pump to surpass 500 next time

Cool... I'll buy some as well

I'm predicting that it'll go to $500 before January next year.

[pa]

A drop of that magnitude was neccessary to reverse the short term trend downward so that the chart has enough time to fill in before the next leg up. Any less of a drop and it wouldn't turn, it would just keep going, which would be bad.

Why does the chart need to "fill in" and what would have been bad about a monotonic rise with no drops?

[n691309]

In some exchanges the price went near to $400 but this is not good, it might crash but don't know if someone is pumping the price?

[ssmc2]

[jt byte]

It went up just as fast it went down. I would rather have a stable $400 rather then all these dumping happening. If bitcoin keeps raising in value in a slow pace, i'm okay with that.

[HarryKPeters]

I would like to think that it's a short term adjustment. It's kinda hard to say at this point since the value of bitcoin has only been going down today.
It was really nice to see it at $470 though. I was hoping for it to go back down to $450 and stay there for the rest of the month at least.

[richardsNY]

It's normal that the price went down. You can't expect the price to go only up and up. Traders are in for the money, they will secure their profits as soon as they get the chance. And today they did.

[pissedoff]

It's normal that the price went down. You can't expect the price to go only up and up. Traders are in for the money, they will secure their profits as soon as they get the chance. And today they did.

Traders indeed do profit from big changes in the price but they also profit when the price goes up.

[MargaretsDream]

This is normal price drop as we see with most markets where investors book some profit when price rise up, big rally is yet to come.
Its not the top yet we may close over 550 ending this year

[pissedoff]

This is normal price drop as we see with most markets where investors book some profit when price rise up, big rally is yet to come.
Its not the top yet we may close over 550 ending this year

$550 is too high to expect for the end of this year. My speculation is that we might end this year around $450.

[n691309]

This is normal price drop as we see with most markets where investors book some profit when price rise up, big rally is yet to come.
Its not the top yet we may close over 550 ending this year

$550 is too high to expect for the end of this year. My speculation is that we might end this year around $450.

It's not high when we see that the price can be pumped $70 within a single day so 2x pumps and $550 can be reached.

[pissedoff]

This is normal price drop as we see with most markets where investors book some profit when price rise up, big rally is yet to come.
Its not the top yet we may close over 550 ending this year

$550 is too high to expect for the end of this year. My speculation is that we might end this year around $450.

It's not high when we see that the price can be pumped $70 within a single day so 2x pumps and $550 can be reached.

The price could be pumped 70 dollars in a day because there wasn't enough support to hold the price.

[--Encrypted--]

looking back on past couple of years, I'd say it'll probably stay around 390$-440$ until mid january. or a big pump will happen and we'll stay high, or it'll go down slowly, who knows...

[azguard]

This is normal price drop as we see with most markets where investors book some profit when price rise up, big rally is yet to come.
Its not the top yet we may close over 550 ending this year

$550 is too high to expect for the end of this year. My speculation is that we might end this year around $450.

It's not high when we see that the price can be pumped $70 within a single day so 2x pumps and $550 can be reached.

Price can go evem higher but it can maintain the peak
think more this will come in next week it will be good to see it stable on high