This price (~$575) is normal and good, and here's why...

[g-unit]

this is a good point but the reason for this low price at this level is that the price was pushed down not a normal decline after a big rise.
you forgot about the bitfinex hack and the okcoin situation, these things keep the price down and if they weren't available the price would have risen by now.

True, but we would still be below 650, 700 for sure, without the bitfinex hack. Okcoin situation is old news. Anyways, we would still be in a post-halving correction regardless.

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[g-unit]

OP, that is a good assesment. It is also a reason to think that BTC will stay below $600 until the end of the year or more. The problem now is when will BTC rise again? According to your assesment it was because of the anticipation of the halving that BTC rose to $700+. So maybe the next rise will be after 4 years in anticipation of the next halving?

It will be sooner...either by late 2016 or early 2017 I'm guessing. People are still waiting to see where the price lands. Every smart buyer wants to buy bitcoin at the best price possible. Eventually people get tired of waiting for a lower price and buy. Price rises a little. Others say "ok, this is the time now". Price goes up more. We get a chain reaction and a price spike.

Also, before long the decrease in the supply being produced will start to put upward pressure on the price.

[g-unit]

So why is everyone freaking out about a "low price"?

Because everybody thought bitcoin halving = doubling difficulty = doubling the price of bitcoin. I'm one of them to be completely honest with you guys. When it pumped to 785$, I was all like "Okay, the pump is just starting." Until it went lower and lower and now we're stuck in this price which is much better anyway compared to the price before the pump.

At least you are honest and not sour. I guarantee if you hold for 2 years you will see a nice return. I'm living proof of it. I would take advantage of the depressed price at the moment to be honest.

[Labumi]

So why is everyone freaking out about a "low price"?

Because everybody thought bitcoin halving = doubling difficulty = doubling the price of bitcoin. I'm one of them to be completely honest with you guys. When it pumped to 785$, I was all like "Okay, the pump is just starting." Until it went lower and lower and now we're stuck in this price which is much better anyway compared to the price before the pump.

At least you are honest and not sour. I guarantee if you hold for 2 years you will see a nice return. I'm living proof of it. I would take advantage of the depressed price at the moment to be honest.

Very precise, it also I have ever see and do on the previous year. I did almost exactly what you said and it made me very excited over the treatment. because I benefit folding 3 x the price of the bitcoin when I bought it. This is something that has indeed proven to be

[Denker]

So we had the halving hype and lot's of people pouring money into bitcoin in anticipation of the halving. This pumped the price to $785 a coin which was pretty much expected or at least not surprising. Once people realized that the "halving run-up" was over, they profit-booked, causing an expected correction. It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600). This has happened with all other halvings in other cryptocurrencies.

So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.

Yeah sure a drop was expected to happen after crazy run up to $785.
And the actual range of 570-580 looks really healthy for a bottom after the correction.
Possible we might move some while sideways before seeing again any significant movements.This will make people even more bored.
However the closer we come to the end of this year I expect to see some funny upwards movements again.

[Sidas_Crew669]

I think it is indeed profitable for those who buy while prices are only $ bitcoin 350. But this (decline in the price of the bitcoin present) different to those who buy the $ 500 price while bitcoin-785, so it depends on the person who bought the bitcoin is not the fault of the price drop

[Ayers]

I think it is indeed profitable for those who buy while prices are only $ bitcoin 350. But this (decline in the price of the bitcoin present) different to those who buy the $ 500 price while bitcoin-785, so it depends on the person who bought the bitcoin is not the fault of the price drop

many other bought at the peak so they are screwed now, thye need to wait until the next pump like the other that bought at 1200 and still are waiting, the story is dfferent for miners, they have always profit

[kobilica]

"miners will always have profit" - not true. There are costs like buying new gear, paying workers, paying electricity.. if BTC price drops too low, they are mining with loss.

Though at those times I think it's safe for them to just mine BTC and hold them.

[newcripto]

I do agree fully with opening post that this is fair price range between 550-600 $ for per Bitcoin. People was expecting enormous increase which was not going to happen as already price are almost doubled. It is good because correction will bring new investors which will cause periodic pumps but this can not simply go up without falling. Price will always work in circle.

[beerlover]

I was one of the ones that believed that the bitcoin halving meant nothing with the price. Price of bitcoin is not exactly connected with bitcoin miners, there are other people who own bitcoin by other means of mining, yes miners wants the price to be a lot higher because it is now harder to mine bitcoins, 100% harder to be precise.

That doesn’t mean that getting bitcoins is harder for other people tough. We still either earn it or buy it. Only miners are having trouble. So people who wanted higher price were two fold , miners and speculators , when speculators left , miners couldn’t hold the price. Simple as that.

[XCASH]

I do agree fully with opening post that this is fair price range between 550-600 $ for per Bitcoin. People was expecting enormous increase which was not going to happen as already price are almost doubled. It is good because correction will bring new investors which will cause periodic pumps but this can not simply go up without falling. Price will always work in circle.

This time last year it was $200-$300 per Bitcoin. A year later ~$575 is between double and triple last year's price, and that's after the correction from $800 and the Bitfinex hack. The end of the bear market was last summer, and this summer marks the start of the bull market.

[1Referee]

Tell me, would you be happy if you bought bitcoins after the hype while the price was like 750$? There are many people who bought from 700$+ and i am pretty sure they are not happy at the moment. If the price doesn't rise in a few months, they will say "fuck this shit" and they won't come back again. When we have enough of those people, bitcoin will be as dead as my shoes. With every pump/dump those people rise in numbers.

you know nothing jon snowmindrust
there were many people who bought bitcoin at $1100-$1200 and kept holding it like fools until some day they said fuck this shit and left bitcoin, but as you can see bitcoin is still alive and regardless of those group's idiocy it is still strong and rising.

Well, yes, if you open the all time charts, and ignore peaks and massive dumps, then you can clearly see the price has been going up in a nice manner. People keep complaining about the price to be boring and stuff, but this shows that Bitcoin is in fact growing year after year.

This year alone we already have a great progress and with that alone we should be thankful, maybe some are losing their money because they are expecting to see the price to rise as much as $1,000 this year and was able to buy during the price spike in the previous month.

I as trader am most definitely happy with the price increase that we have seen. There is absolutely no reason to complain. Especially when the market allows you to buy at lower levels, sell at peak, and buy back at lower levels once again. And all that in a matter of less than 2 months.

[nejibens]

I agree with you, if we compare the actual Bitcoin's price with the price of the last summer we can easily notice it's increasing already.

[panju1]

There are a few bagholders, who purchased close to the ATH.
Other than that, long term holders should be happy with this price.

[Hellacopter]

The actual price is really not bad. It's true that the price decreased the few last weeks but it's still higher than the price of the same period of the previous year

[mirana12345]

I agree with you, if we compare the actual Bitcoin's price with the price of the last summer we can easily notice it's increasing already.

There is increase, but sadly it is just a fraction of what it would have been if there was no panic around bitfinex hack. I can't say that i'm not disappointed by
current price, but i'm betting that it will pass and we will continue going strong. If you look coindesk news daily, there's a lot of positive news lately too, so maybe this is just temp dump.

[The Sceptical Chymist]

G-unit, that's a pretty good summary of what happened, and it's true and concise.  So I think if we stay at this level for a while--or a long while, maybe--it's not a bad thing.  People were hoping for ridiculous fantasy prices of $1000-10,000, and that ain't gonna happen.  There's still strong demand for bitcoin, but you would have to have absolutely massive demand to drive the price up that high.

[BathSaltsDealer]

So why is everyone freaking out about a "low price"?

I was promised the moon, new ATH, if I hodlded to the halvening. The halvening has come and gone OP, and this is not the moon. This is what the opposite of the moon would be, if there was such a thing. This sux0rz. And now you tell me that it's OK?  I'm feeling a little used

[Shiroslullaby]

People are upset because they thought they were going to get rich overnight.
They invested a couple thousand and were hoping to be a millionaire.
Now that reality set in, there are people that probably can't pay their bills.

[sempak]

we still hope that the price of bitcoin getting up. the current bitcoin prices stabilized at $ 570 price range.
since halving in the month of July has not happened a significant increase. bitcoin prices actually declined, although only slightly.