Why are we stuck in the $600 range for so long?

[DeathAngel]

Bitcoin has a much larger market cap than say 1 year ago hence it's much more difficult for whales to manipulate the price. That's the reason why we see less volatility. The price will begin another leg up or down though, out of the 600 USD range though, you can be sure about that. It's just a question of when.

[Monnt]

Because you aren't buying enough bitcoins! How many did you buy yesterday? None? Come on man. The reason we're stuck at the $600 range is 100% because of you. That's my theory anyways.

Well, yes it depends on the buying orders but also the fact that buying of btc will occur only when selling will occur, I mean if someone will buy at 600$ and sell at 650$ then how will the price of bitcoins reach 900-1000$ .. I think not we small individuals but the big companies determine the price of bitcoins.

[wuvdoll]

Because too many people are doing nothing to promote Bitcoin to other people. We will not see a massive increase in the price from current Bitcoin hoarders, because most of them have already bought their share of the coins. I buy much smaller amounts on a monthly basis now, than what I did when I entered the scene many years ago.

Some people buy and sell during normal trading, but it is not new fiat money coming into the pool, only old money being circulated. What are you waiting for, get out there and promote Bitcoin to new people. ^smile^

New investors will enter bitcoin when they see developments in the currency.

Also there hasn't been any big developments in bitcoin after the Bitfinex hack.

Exactly, we need investors to bring up the price of bitcoins. Promoting bitcoins to more and more people would mean the more purchase of bitcoins and hence the value of bitcoins will increase. And yes if we are able to attract some big companies like suppose amazon starts accepting BTC then there would be a huge spike in the price of bitcoins.

[Alauria]

There was not really happening a lot and due to that it was not going great with it, there were no events but also no real buy ins with large amounts or something.

[jerowacik]

for several months now visible movement of bitcoin prices are very stable. and the movement was not too far away from a number of around 600 USD. we can conclude that the price of bitcoin is not currently affected by various factors.

[social crypto comunity]

this now bitcoin price is trend up
until in end year bitcoin price trend can up
my prediction bitcoin price is until in edn year 2016 can up until reach 800 dollar every one bitcoin

[Superbitzz]

for several months now visible movement of bitcoin prices are very stable. and the movement was not too far away from a number of around 600 USD. we can conclude that the price of bitcoin is not currently affected by various factors.

in previous days as yo can see after bitfinex issue the price of bitcoin fell down to 500 USD from 660$ with in few days, and after that the price remain stuck under 600$ as people lost their confidence on bitcoin and were not feeling free to invest their assets but now people are getting their confidence band and start investment in bitcoin, and therefore we are hopping the price to reach to maximum very soon.

[pissedoff]

this now bitcoin price is trend up
until in end year bitcoin price trend can up
my prediction bitcoin price is until in edn year 2016 can up until reach 800 dollar every one bitcoin

Its going to be a long time before we even see $700 again so I don't think we will be seeing $800 before the end of this year.

[dinda22]

it seems now the demand is stable, so the price is still $600 range. isn't this a good price stable at $600 after the incident bitfinex. prices began to recover and some of these days the prices have increased.
let's see the next few months I believe the price can touch $700 and it has seen rising to $ 640 in a few days backward.

[mindrust]

Nope. There are USA elections and FED rate hikes ahead. Bitcoin will definitely react to those events. And there is even something bigger ahead: World War III.

If Killary gets elected, she will make bitcoin great again.

[amacar2]

Actually i think price is swinging near $600 range rather than stucked on same price. If price will not swing like this there will be no any good opportunity for traders and sometime whales also manipulate price to create such swing and hold price at some constant range for really long time. I also think this $600 range is kept proposly to make price swing at this range and whales accumulate cheap bitcoin before they pump the price.

[Schuyler]

There was a slight increase from a few weeks ago. We have seen the price touch $640 again but it has since went back to below $630. But October is still a few days away from being history and things can either go up or down. I think this level the price is still a good one to buy at.

[Oralmat]

Why are we stuck in the $600 price range for so long?

What do you think is the reason behind this?

Now the time is starting to rise the price of bitcoin. If bitcoin stuck, so i don't think that something is wrong with bitcoin, You know before Bitfinex hacked everything was fine, when exchange has been hacked than the fall of bitcoin's price was started, but now i have fully hope that the coming time is better for bitcoin, But we should keep in mind, that it is a crypto currency and always it will be happened that sometime price up and sometime down.

[jondeen707]

Because you aren't buying enough bitcoins! How many did you buy yesterday? None? Come on man. The reason we're stuck at the $600 range is 100% because of you. That's my theory anyways.

Well that explains it all. Best answer so far 

[jtipt]

remember the time when the price was below the $300 price level for such a long time back in 2015? i think we should be happy with the fact that we reached this price. it's more than 100% increased in that period till now. better enjoy the current stability than asking why the price is stuck.

Yeah that's true, i never expected the price to double in just a year. And as you remember the price didn't rise suddenly (Excluding the halving) it was gradual. It been only few months that we are in the $600-650 range it will increase and even if the price remains stable that's not entirely wrong thing.
And this the graph for last month, hope it will keep going up 

[iqlimasyadiqa]

already a few days the price of bitcoin survive in a number of around 600USD. precisely in the price of 630USD. now there is no longer a substantial increase. bitcoin prices are stable and there is no movement at all.

[piloder]

I see this stable price as pure manipulation by whales so that they can bag hold cheap bitcoins thrown to them by some light hearted traders and after they get good amount of bitcoin they will pump the price hard and the one who lost in between this will be all small traders and whales will always win.

[Skarner21]

Honestly i really don't know what is the real reason but for me before bitfinex was hack we are in 700 value level if bitfinex was not hack expect that the price should be in 800 value or staying in 700 value after block halving.. we are lucky that we are here again back below in 700 value.. and i think the reason why the price of bitcoin still staying in this position it's because many people are still believing for bitcoin that the price will increase soon so they are still holding their bitcoins and wait for price changes soon..

[bitlancr]

We were pretty stuck in that price due to the fact there was no event and there was  no one selling or buying with some nice numbers.
I think that due to that it was on a stable price.

[naidray]

Because too many people are doing nothing to promote Bitcoin to other people. We will not see a massive increase in the price from current Bitcoin hoarders, because most of them have already bought their share of the coins. I buy much smaller amounts on a monthly basis now, than what I did when I entered the scene many years ago.

Some people buy and sell during normal trading, but it is not new fiat money coming into the pool, only old money being circulated. What are you waiting for, get out there and promote Bitcoin to new people. ^smile^

Yes, but according to my theory if the number of people will increase and the amount of bitcoins will decrease per user, like suppose everyone in the world holds 0.0001 btc then yes the price would be around 100k $ per bitcoins but at the same time there would be no price changes at all and hence no price trading.