Bitcoin drops $60

[astrocity1981]

Man I wish I had extra crap fiat to buy BTC right now. China is happy they can buy all the bitcoins the pannicking sellers are selling. Man I thought we were done with the scared stiff seller. I also think a lot of people are dumping to buy back before halving. I wish I had some extra  crap fiat.

[xdrpx]

The 2 main causes could be because of Cryptsy a Bitcoin/cryptocurrency exchange being hacked. 13,000 bitcoins is quite a lot to steer downward pressure on the price. Also, probably cause of the bad news around about Mike Hear quitting Bitcoin and also selling his Bitcoins.

[bitlancr]

The 2 main causes could be because of Cryptsy a Bitcoin/cryptocurrency exchange being hacked. 13,000 bitcoins is quite a lot to steer downward pressure on the price. Also, probably cause of the bad news around about Mike Hear quitting Bitcoin and also selling his Bitcoins.

It seems like negative news also has some sort of effect on bitcoin. I think some of it also has to do with people who are panic selling. I do believe bitcoin is able to recover from this.

[praprata]

It's very hard to predict and belive. I'm guessing it's the cryptsy scam? Though there is no logic that I can figure out and relate how it will affect the market prices but I'm starting to belive it now. Good time to buy them though.

I believe this is the reason as well. I don't mind it at all though. Bitcoin was bound to come down at some point. Bitcoin can't keep on rising without it falling down again. I'm actually glad to see this happen. It gives some of us a chance to buy again.

Down with bitcoin is not a problem, because it can go up again.
Also you can buy more with this kind of price.
We can see this year also a maybe a 1000 dollar.

[-Greed-]

Soon there will be threads like "Bitcoin drops to $60".

[gilangIDR]

ekstream predictions so I thought. clear bitcoin according to my observations will not fall below $ 400. I consider as it will block the halving in the middle of this year.

[Snorek]

Soon there will be threads like "Bitcoin drops to $60".

If people will turn out to be brainless idiots then yes, we will see these threads. But there is no logical explanation for selling if you ask me, Cryptsy fail and Harn leave are exaggerated facts.
Bitcoin is not ending, nothing is changed, stop with the panic, please.

[jmintuck02]

I am so fed up with all the panic and fud. I wish people like Hearn would fuck off. If he quit BTC, why is he still

chattering about it? He may have been a major dumper, methinks. I don't know for sure. And Craptsy goxxing

everyone makes me mad as they may have had something to do with causing a big panic.

[greBit]

Nothing really, because if you see the couple of years the price always have been going down in the beginning of the year.
I am sure if we take some time the price will go up again is nothing new.
The good thing about it that is now cheaper to buy.

we should take advantage of this golden opportunity, because btc price is bound to go up again, who knows we might not get an opportunity like this again.

[DaMut]

the reason prices going down :
1.Crispy dead and declared 13.000btc and 30.000ltc stolen
2.Mike said "btc's done" and declared crispy situation.

this's just only panic sell because they think 13k btc'll dump exchange.because until now that's btc havent been sold.

BUT.

there's around 1k and more buy wall on exchange at 350$ so,dont worry because this time to buy.
just ignoring that crispy statement,they wont sold their btc right now.because if they sold it.

PRISON AWAITS THEM

[disclaimer201]

One week ago we saw fake volume and a cheap pump in China although signs looked 50/50 with a slight bearish tendency. The correction was very likely and partly already visible with bitstamp "leading" the price in a negative way. There were several minor dumps yesterday, followed by bad news from Mr. Hearn and Cryptsy finally coming out with their "hack" confession. I believe Cryptsy could be of larger importance here since its fall will effect the entire altcoin market and many people probably got burned.

[Erkallys]

I was convinced that Cryptsy was the only reason, but after reading Mike Hearn's bullshit, he may be also a bit responsible. Writing such a bunch of lies is unfair. However, the main reason is still Cryptsy, because if people that trusted in Bitcoin can change their mind for a text, there's a big problem ...

[newcripto]

A drop of 60 $ isn't that much to be worried about because this is trend in Bitcoin so see 50 $ rise within hours or similar drop in the same way many times happened.This Cryptsy story many of us already were imagining will fold this way.Bitcoin isn't this weak to finish so quickly after all it is market of billions of dollars.All this will be over soon ,just keep watching if don't believe me.

[Xandan]

I don't see the drop as problem but the problem is they way Cryptsy came out this is very suspicious and became fashion first hide bitcoins somewhere and claim of hack attack and then sell them off after some time.This thing is not good for Bitcoin and it should have some full stop to not happen in future.

[MaritiJames3]

I don't see the drop as problem but the problem is they way Cryptsy came out this is very suspicious and became fashion first hide bitcoins somewhere and claim of hack attack and then sell them off after some time.This thing is not good for Bitcoin and it should have some full stop to not happen in future.

Exactly, why would they come out with this hacking news right now, if it happened over a year ago?

I read that it happened in 2014, doesn't make sense, maybe they are just abusing the bitcoin system by selling all now and exiting out.

[richardsNY]

Cryptsy is probably the reason for the current price fall. I was also reading about Mike Hearn's rant about Bitcoin. According to Coindesk there has been a theft of 13,000 BTC and 300,000 LTC being worth around 2,400 BTC. I am not sure why people are making a lot panic about this as this all happened in Juli 2014.

[VultureFund]

WHEN PRICE GOES UP, PEOPLE NEVER ASK FOR THE CAUSE OF THE RISE. THEY SIMPY SAY: PEOPLE ARE BUYING HARD

DON'T BE SO COMPLICATED. THE ONLY CAUSE THAT MAKES PRICE TO FALL, IS BECAUSE PEOPLE ARE SELLING

OVBIOUS AND SIMPLE, BUT PEOPLE SEEM NOT TO UNDERSTAND...

NOW YOU WILL SAY: YEAH, BUT WHY PEOPLE ARE SELLING?

WELL, THERE'S SO MANY PEOPLE, WITH SO MANY REASONS, THAT IT'S LITERALLY IMPOSSIBLE TO KNOW

SHORT TERM RISES AND FALLS, ARE PURE DICE ROLLS, DON'T TRY TO UNDERSTAND RANDOMNESS, YOU'RE LOSING YOUR TIME

[notaek]

Late December and early January is the transition phase between people selling Bitcoins in order to buy stuffs for enjoying their holidays.
I don't really understand why are people so worried about a simple drop?
I wonder whether you all had a heart attack when the price fell down drastically after Ross' wallets got confiscated.

BTW, let's enjoy some pun and forget about it - https://www.youtube.com/watch?v=NDl1dJoH0mI

It's because most people, when they invest into something, they only want bitcoin to go up.

Those people are not in it for the long term, they rather invest into something and sit on their profits real quick

That's not how Bitcoin works.

[Emersonnets]

Late December and early January is the transition phase between people selling Bitcoins in order to buy stuffs for enjoying their holidays.
I don't really understand why are people so worried about a simple drop?
I wonder whether you all had a heart attack when the price fell down drastically after Ross' wallets got confiscated.

BTW, let's enjoy some pun and forget about it - https://www.youtube.com/watch?v=NDl1dJoH0mI

It's because most people, when they invest into something, they only want bitcoin to go up.

Those people are not in it for the long term, they rather invest into something and sit on their profits real quick

[BitMaxz]

Its because of scandal issue of cryptsy and i think before end of this issue the price will rise again.Not sure when but i think to weeks from now
The price should back above 400..