What has caused the latest drop > 114USD ( Now 107)

[gambitv]

Any ideas? MtGox has some big sell orders sitting in the queue ( big by my thinking anyway ).
Update No. 2  _{( Mambo No. 5 )}  http://www.reddit.com/r/BitcoinMarkets/comments/1fup9j/friday_june_7_2013/ seems to have a very good discussion on it.

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[tutkarz]

someone wants to buy more cheap?

[worldinacoin]

It is now $112, really drop too fast too far I guess.

[tutkarz]

It is now $112, really drop too fast too far I guess.

nothing new

[gambitv]

This can't of done it. http://www.coindesk.com/exponential-leap-in-bitcoin-hash-rates/

I suspect it is the same people manipulating the market when the 20k were dumped earlier on the week.

Seems we are still in cowboy land on e-exchanges with easy manipulation by the big players.

[tutkarz]

This can't of done it. http://www.coindesk.com/exponential-leap-in-bitcoin-hash-rates/

I suspect it is the same people manipulating the market when the 20k were dumped earlier on the week.

Seems we are still in cowboy land on e-exchanges with easy manipulation by the big players.

but this should actually rise the price because it means more people are interested in bitcoin and more are investing in it. amount generated is the same regardless of hash power.

[navidos]

This huge of drop from last week Fridays or Saturday till now.

What is the main reason?

More intrests will effects on growth not drop.

Strange incidents

[edd]

I have a theory.

At the San Jose Conference, some very interesting ideas and partnerships sprang into being. One or more start-ups may be moving from the "idea" phase to the "execution" phase and require capital that necessitates exchanging some bitcoins for more conventional currencies.

[navidos]

Shouldn't be like this.

More demands will increase the price. Also you shouldn't speculate your BTC that much.

We should help the market.

[OhShei8e]

Any ideas?

Come on, we are in the middle of a bubble and you ask for reasons why it is going down again?

At the beginning of the year no one would have believed that we reach the old $ 31 mark already this year and where are we now?

I am quite sure that we have a slow descent into the $ 40-50 zone in front of us. From there we go either further down or up slowly. Nevertheless, the price would have multiplied compared to last year. A very good result, which gives hope for new highs in the coming years.

Old Hands can only rejoice about this little damper, because Bitcoin community increasingly turns into a fucking cult. This sucks. Now is the time to think about short sales OR further supplementation of money to buy in the death zone.  

Nevertheless, you should never sell all coins. Because it can also come out quite differently. And for that it need no reason too. It is simply the market.

[OhShei8e]

We should help the market.

Help yourself to help the market.

[yolo2222]

We should help the market.

Help yourself to help the market.

[ninjaboon]

I see a lot of big sells on Fridays. Might be due to weekday traders cashing out for weekend shopping. 

[navidos]

We should help the market.

Help yourself to help the market.

Did you help yourself?

Be careful kid.

[tokeweed]

Any ideas?

Come on, we are in the middle of a bubble and you ask for reasons why it is going down again?

At the beginning of the year no one would have believed that we reach the old $ 31 mark already this year and where are we now?

I am quite sure that we have a slow descent into the $ 40-50 zone in front of us. From there we go either further down or up slowly. Nevertheless, the price would have multiplied compared to last year. A very good result, which gives hope to new highs in the coming years.

Old Hands can only rejoice about this little damper, because Bitcoin community increasingly turns into a fucking cult. This sucks. Now is the time to think about short sales OR further supplementation of money to buy in the death zone.  

Nevertheless, you should never sell all coins. Because it can also come out quite differently. And for that it need no reason too. It is simply the market.

this +100

(i was going to post something. but this guy already said it all. )

[tokeweed]

if you got a friend who has a lot of btc, it would be a good idea to borrow some, sell it and buy it back at lower prices and give it back to him.

this could be just a start of a down trend

[reactor]

It could hit 50 overnight and be at 140 by the end of the weekend, right now the BTC market is a cinch to manipulate if you have enough starting funds.  If you consider things like a venture hedge fund holding 80k BTC, the price right now and the price in five minutes bear no resemblance other than luck and inaction.

[tokeweed]

Any ideas?

Come on, we are in the middle of a bubble and you ask for reasons why it is going down again?

At the beginning of the year no one would have believed that we reach the old $ 31 mark already this year and where are we now?

I am quite sure that we have a slow descent into the $ 40-50 zone in front of us. From there we go either further down or up slowly. Nevertheless, the price would have multiplied compared to last year. A very good result, which gives hope to new highs in the coming years.

Old Hands can only rejoice about this little damper, because Bitcoin community increasingly turns into a fucking cult. This sucks. Now is the time to think about short sales OR further supplementation of money to buy in the death zone.  

Nevertheless, you should never sell all coins. Because it can also come out quite differently. And for that it need no reason too. It is simply the market.

Which is it? Are you "quite sure that we have a slow descent" to $50; or do you admit that "it can also come out quite differently?" Too many people think they have a crystal ball.

look at what is happening right now. price is dropping with a spike in volume. this indicates a sell down. so yes as of now btc is in a "slow descent". as to where it will be, who knows...  it could be 50, 30 or even 10. no one can predict these things accurately 100%. even the experts.

but the good news  is (if you're long btc) the trend could reverse.  when?  again who knows, hopefully tomorrow. but if you're a trader, it would be a good idea to go short. just have a stoploss in case the trend reverses. but as of now, trend is down.

[gambitv]

Other thread posted algorithmic-trading-for-dummies link giving a general overview of the share market, and touches on bitcoin as well.

So no real surprise then. This is just what it is.

Time to go transfer some cash and buy I guess.

[tokeweed]

Any ideas?

Come on, we are in the middle of a bubble and you ask for reasons why it is going down again?

At the beginning of the year no one would have believed that we reach the old $ 31 mark already this year and where are we now?

I am quite sure that we have a slow descent into the $ 40-50 zone in front of us. From there we go either further down or up slowly. Nevertheless, the price would have multiplied compared to last year. A very good result, which gives hope to new highs in the coming years.

Old Hands can only rejoice about this little damper, because Bitcoin community increasingly turns into a fucking cult. This sucks. Now is the time to think about short sales OR further supplementation of money to buy in the death zone.  

Nevertheless, you should never sell all coins. Because it can also come out quite differently. And for that it need no reason too. It is simply the market.

Which is it? Are you "quite sure that we have a slow descent" to $50; or do you admit that "it can also come out quite differently?" Too many people think they have a crystal ball.

look at what is happening right now. price is dropping with a spike in volume. this indicates a sell down. so yes as of now btc is in a "slow descent". as to where it will be, who knows...  it could be 50, 30 or even 10. no one can predict these things accurately 100%. even the experts.

but the good news  is (if you're long btc) the trend could reverse.  when?  again who knows, hopefully tomorrow. but if you're a trader, it would be a good idea to go short. just have a stoploss in case the trend reverses. but as of now, trend is down.

You're an idiot.

lol you mad?

your btc is going down in price right now. deal with it. where it lands is anyone's guess.  

anyone know when coinsetter is rolling out their service?