Recent BTC price drop

[Wanderer07]

Hi all,

What speculation do we have for the Btc price drop over the last couple of days?

Is it the launch of XRP (ripple) which is heavily backed (VC's) or government regulatory fears or...?

[Jazzar]

think its just a natural dip

[Queezy]

There was also a huge order (around $7million if I remember correctly) that was trying to hold the price up around $127 (again my memory is hazy.)
Some people that can explain it better than I can (and with a bit of humor) commented about it on reddit, http://redd.it/1fifio
But these big trades happen often i hear, even more towards the beginning of the week/month.

[rumpler]

Yeah, I think the reddit post got it right.

There were a couple whales keeping it up high, then someone sold off a lot, breaking the wall. And now everybody else is just casually trading as the price continues to slowly drop. (A swinging price is more natural than days upon days of a nearly totally flat graph anyway)

[hvidgaard]

Might as well get used to it, BTC is a relatively low volume compared to what is being traded on other exchanges, so the price will be much less stable.

[Queezy]

You could always use it to your advantage, when the price looks a little higher than normal sell off a small portion. When the price is looking a little low, use that cash balance to buy back in. You don't have to be a day trader and do crazy math and chart analysis. As long as you are buying back more bitcoins than you sold (and for a cheaper price) you are in good shape. With a little luck you will increase your holdings a good bit with this type of volatility.

[BitCoinNewGuy]

With all the scams I bet BitCoin prices will go down. Too many scams, the buzz is dying.

[Balta]

Well, ASICs miners work much more efficient than GPUs or FGPA so prices will drop a little since those ASICS-miners still operate on a healthy basis, even if the price drops. Therefor the price is more likely to drop, since those miners can afford it while still making lots of profit and pushing others out of the market.

[teateatea]

It's an absolute pain in the fucking ass. Been collecting drips from the faucets with my eyes on a little red leb, I have enough now for when the price was $130, but it's dropped now to $117 and I need to collect a little more. I'd really like a smoke on Friday, but it looks like it'll be next friday now. Ah well, free is free.

[bitnames]

more cheap coins please :0

[frott]

fc4b announcement, ripple, crackdowns...

[chadbu]

price drop is a great chance to get in before the next buying frenzy.

[aceking]

maybe it drops because lot cash out services are suspended

[lithiumfinn]

price drop is a great chance to get in before the next buying frenzy.

Yeah that's what I'm thinking.

[Thalum]

There was a big sell off, but I think it just scared a lot of people into selling off as well. Price seems to have stabilised a bit now though.

[Wanderer07]

There was a big sell off, but I think it just scared a lot of people into selling off as well. Price seems to have stabilised a bit now though.

I agree that people got scared with a sell off that lowered the price and started selling themselves. The positive is it has not plummeted... but there are signs of jitters!

I'm trading the swings as I presume many people are! There is quite a swing going at the moment and so long as you have volume it is worth while.

GLTA

[androz]

all the crypto are affected

the drop trend is probably a period, but it's only an opinion