Bitcoin price stuck ?

[Cereberus]

Bitcoin price has come in a moment where for more than 2 weeks now is sitting in the area of 610 USD +- 10 USD most of the time. Why has the price stopped moving up or down ? Bitcoin is well known for its instability and being very unstable but now things for me are starting to look different. I was reading bitcoin related news in clear and also deep web but could not find anything that can make the price of Bitcoin go up or down.

Any ideas why the price is stuck for more than 2 weeks now ?

[amacar2]

Generally after every big pump and dump there is some period which is called as correction period at which price will be in constant rate for few times. And looking at current stable price after recent pump, it is likely that we will see another spike soon.

[richardsNY]

It's actually very simple. Nearly everyone is waiting for a large trader to pull the trigger. It can happen right now, or after a few more weeks. Till then the price will not move much from the current levels. I don't mind if the price is not moving for another few weeks, as long as it stays above the $600 level.

[Scott J]

It's consolidating, that's all. Probably shoot up pretty soon.

[ajareselde]

To be honest, none of us really can say for sure, but some small spikes make me think that there will be atleast a little blow up sometime soon, or atleast i hope so.
In any way, i don't feel comfortable selling anything just yet, that's for sure.

[20kevin20]

We can't have just spikes all the time. The price has now "calmed down", especially after the Bitfinex hack. I bet we would've had a $700 price right now if the hack didn't take place.

[The Sceptical Chymist]

Not for nothing,  but I'll take a stuck bitcoin price over a crash any day.  If anyone is planning on using btc as a currency, you want price stability.  You won't want to spend something that's increasing in value and you won't want to save a currency if it's declining or get paid in one if it's declining.

[InvoKing]

Not for nothing,  but I'll take a stuck bitcoin price over a crash any day.  If anyone is planning on using btc as a currency, you want price stability.  You won't want to spend something that's increasing in value and you won't want to save a currency if it's declining or get paid in one if it's declining.

that's right if you are comparing bitcoin to fiat or else 1 BTC = 1 BTC
[well even fiat for example the change between Euro vs USD isn't always that stable and i saw some people waiting for the best deal to change from a currency to another]

back to the topic, i am a little bit worried when i see the price relatively stable because once we will hear a bad news the price will fall again to 500 USD...

[European Central Bank]

haven't you noticed painfully long periods where it did this before? it's the new normal. it sat in the 250 ish range for what seemed like forever too.

[iv4n]

Its not first time price to "stuck". I don`t think that have some logical answer, and I don`t think price can constantly go up or down. Sometimes price need to settle on some level. That is good, a bit of relatively stabile price can hurt no one.
Maybe this is like some preparing, bitcoin had some problems on the market, but price will go up eventually. I think this winter will be very exciting, some things will happen like every winter in past few years when price was going up.

[coinzat]

bitcoin price has been very stable after the halving except for the dump which happened after betfinex hack.  so it is not just the last two weeks :-D

[Omega.SportSciencie]

bitcoin price has been very stable after the halving except for the dump which happened after betfinex hack.  so it is not just the last two weeks :-D

It is great to have a stable price, it would be better to have a rising one but a stable price allows big players to get confidence on the asset.

[Shiroslullaby]

Stable price is good!
Sure you aren't going to get rich overnight, but I'm pretty sure those days are over anyways.

A steady price is good for long term investment, since you can probably make a little increase over time, and not have to worry about price bottoming out.

[BitHodler]

No one knows why the market isn't moving, but why would you expect it to move in these times?

That being said, when the price is volatile, people want stability. When there is stability, then people seem to get bored and start hoping for the volatility to come again.

[randy8777]

instead of asking why the price is stuck, you can also ask yourself how much support there is needed to get the price to maintain its position above the $600 price level.

[pooya87]

the same old topic about the same old story that always happens with bitcoin. if we even see a week of stable price everybody is like why aren't we getting rich from the rise!

you have to have patience and start looking at the charts with a bigger zoom (zoom out) and see the chart from month to month or at least week to week.

[gentlemand]

Folks here seem to have the memories, attention spans and perspective of gnats. Bitcoin cares not for your petty boredoms.

[rektDude]

The price of the bitcoin is really stuck and that is all because i know that the price wont change anything maybe a little bit at the end of this year but idont know that for sure!

[maku]

We had plenty of periods in the history of bitcoin when price was stable. It is nothing new.
People assume naturally that bitcoin price must be volatile and and now after a brief moment of stability when value of btc is stagnant they panic.

[JimboToronto]

We had plenty of periods in the history of bitcoin when price was stable. It is nothing new.
People assume naturally that bitcoin price must be volatile and and now after a brief moment of stability when value of btc is stagnant they panic.

This is mostly wishful thinking on the part of traders, who of course want a volatile market. It's not surprising to see that here, considering that this is the Speculation sub-forum.

Bitcoin devotees tend to want a more stable price as they feel it's better in the long run.

We "holders" (I prefer to call myself a saver) want it both ways. We want a steady upward price rise to see our savings grow, but with just enough volatility to create buyable dips.