Long term down trend?

[Mahn]

Am I the only one seeing this?

[worldinacoin]

That's not long term , that's only a ripple

[Mahn]

Seems to correlate well with Google Trends as well. (link)

[notme]

Seems to correlate well with Google Trends as well. (link)

[Dayne]

Those who bought above 200$ need to panic and surrender by selling whatever they have left to those who sold in 80-90 range. Then we can start moving up again.

This.

[linuxer]

That's not long term , that's only a ripple

Agree with you.

Long term  = 1-2 Year atleast

[mgio]

Two weeks is not long term.

[ashaw596]

Yeah, thats not that much of an decrease. I think part of its driven by asic companies starting to cash out more.

[BTCThousandaire]

This is just what I was waiting for, one more major down move completing the abcde triangle. Now we can move up from here.

[freedomno1]

http://www.google.com/trends/explore?q=bitcoin#q=bitcoin&cmpt=q

So it was mentioned
Think this == Stability downwards nearer that bottom
Next time you start seeing a spike

Probably will see a rally!

[BitPirate]

Seems to correlate well with Google Trends as well. (link)

This again ... :-)

Was the price pushed up to 200+ because people were searching in Google? Or did people search in Google because of the 100% week-on-week appreciation?

Yeah, there's correlation. But it's not a predictive correlation.

[Kupsi]

Seems to correlate well with Google Trends as well. (link)

People still want to buy. I don't think it looks bad at all. Link

[Saint!]

Personally I think its due to the now almost media black out on Bitcoins.

There's no necessarily bad news but there aint no good news either. Kinda get the feeling one big story could throw it either way.

What your seeing is people with shaky hands selling off the moment they see any slightly downward trend.

[freedomno1]

Personally I think its due to the now almost media black out on Bitcoins.

There's no necessarily bad news but there aint no good news either. Kinda get the feeling one big story could throw it either way.

What your seeing is people with shaky hands selling off the moment they see any slightly downward trend.

I agree although I'm waiting for that attention line to bottom out before saying that it hits the price bottom as well
Ah google chart's a way to measure attention spans
That said
Disclosure
Steadily buying here

[johnyj]

Google chart showed it's still very new and mostly price is affected by new adopters. If you search the trend for gold/silver, the price and trend has no direct relationship

[freedomno1]

Google chart showed it's still very new and mostly price is affected by new adopters. If you search the trend for gold/silver, the price and trend has no direct relationship

True but it does seem to correlate with bitcoin to an extent at the moment likely because it is new information while gold and silver are well known

[ElectricMucus]

Google chart showed it's still very new and mostly price is affected by new adopters. If you search the trend for gold/silver, the price and trend has no direct relationship

True but it does seem to correlate with bitcoin to an extent at the moment likely because it is new information while gold and silver are well known

That's because Gold/Silver aren't about investing per se, but pretty common terms.
If you look for "Bullion" that paints a whole different picture.

[hgmichna]

Am I the only one seeing this?

No. It has been predicted end of March/beginning of April already, i.e. before the bubble burst. The approximate prediction was that, after the bursting of the bubble, we would see a sequence of bull traps in a gradual decline that will last between half a year and two years.

The price actually behaves similarly to the 2011 bubble.

There is not much supporting bitcoin, only speculators. When they see the price fall, they will begin to sell to save whatever value they have.

The really interesting question is, how low will it go? My old prediction was $20, but I won't be surprised if I see single digits. I'm still sticking to that prediction. The bitcoin value used to pay for goods and services determines the base price below which bitcoin cannot fall. Unless, of course, the real traders also lose trust in bitcoin.

Anyway, that base price is very much lower than today's price. You cannot support a high price solely on the speculation that the price will be high, because sooner or later somebody will shout that the emperor wears no clothes. You have to have something more real underneath, and that can only be the use of bitcoin to pay for goods and services.

[ShroomsKit]

Am I the only one seeing this?

No. It has been predicted end of March/beginning of April already, i.e. before the bubble burst. The approximate prediction was that, after the bursting of the bubble, we would see a sequence of bull traps in a gradual decline that will last between half a year and two years.

The price actually behaves similarly to the 2011 bubble.

There is not much supporting bitcoin, only speculators. When they see the price fall, they will begin to sell to save whatever value they have.

The really interesting question is, how low will it go? My old prediction was $20, but I won't be surprised if I see single digits. I'm still sticking to that prediction. The bitcoin value used to pay for goods and services determines the base price below which bitcoin cannot fall. Unless, of course, the real traders also lose trust in bitcoin.

Anyway, that base price is very much lower than today's price. You cannot support a high price solely on the speculation that the price will be high, because sooner or later somebody will shout that the emperor wears no clothes. You have to have something more real underneath, and that can only be the use of bitcoin to pay for goods and services.

I find it hard to believe you missed the part where craploads of companies are accepting Bitcoins and that it is growing every day. 

[Frozenlock]

I find it hard to believe you missed the part where craploads of companies are accepting Bitcoins and that it is growing every day. 

I find it hard to believe you missed the part where you are supposed to explain how this would prevent the price from falling.