Why is bitcoin price not going up?

[Yogafan00000]

It was the Bernake's hint at taper a few weeks ago.  It's affecting bonds, PM's, equities down and USD/interest rates up.

All the financial types are nervous as shit and going liquid for the moment.

[Ace5high]

Why is bitcoin price stuck around the same number and not  increasing, how likely  is it for bitcoin to steadily start going up again?

Bitcoin need more user now, and some marketing action like "PayPal is accepting Bitcoins" IMO

Ha, that's like saying Bill Gates is now endorsing apple products  

This simply will never happen. Ebay (PayPal) wants nothing more than to nuke bitcoin from existence along with the US government. Both are dependent on the failure of any alternative currency in order to continue their happy little monopoly...

[johnyj]

There should be more merchant accept bitcoin payment and pay with bitcoin should be easy enough so that people are encouraged to charge their mobile wallet with bitcoin and pay

If you can always buy things with bitcoin then you don't need to sell them for fiat anymore, means only buyers no sellers, the price will rise forever

[cbeast]

BitInstant allows larger USD withdrawals. I suspect some folks are dumping some bitcoins that have been tied up at Gox. It should correct upward again soon.

[cdog]

More businesses need to accept it. Thats the real driving factor. Products and services.

Ask if you can pay in Bitcoins. Demand that you be able to pay in Bitcoins. This is the only way.

[Felipeo]

Na, Paypal is busy working on irrelevant projects, like interplanetary payments:

http://www.myfoxny.com/Story/22701675/paypal-looks-to-conquer-space-payments

Pretty sure bitcoin is better suited for this application also, lol.

"interplanetary payments" that's good

Ha, that's like saying Bill Gates is now endorsing apple products 

This simply will never happen. Ebay (PayPal) wants nothing more than to nuke bitcoin from existence along with the US government. Both are dependent on the failure of any alternative currency in order to continue their happy little monopoly...

Seriously i don't have sh%* about PayPal, but about some "marketing" action that help Bitcoin be seen for that people who don't know about it, but will be happy to used Bitcoin 

[Wagner2014]

It was $13 in January...how fast do you want it to go up?

The question should be: why is it still in the $90s or $80s depending on exchange? If it breaks through $88 on Mt. Gox, watch out below.

[JessicaMILFson]

Because Apple is coming out with their own digital currency:

iMoney

http://venturebeat.com/2013/06/06/apple-files-imoney-patent-for-virtual-currency-digital-wallet-and-free-stuff/

[PeZ]

Because Apple is coming out with their own digital currency:

iMoney

http://venturebeat.com/2013/06/06/apple-files-imoney-patent-for-virtual-currency-digital-wallet-and-free-stuff/

More patent trolling from the patent troll company.

[MagicBit15]

A lot of negative attention in the news too, especially with this bullsh*t apprehension of funds that bitpay has to deal with. The U.S. is such garbage, they address so many issues slowly, poorly, and complete uninformative. It is a disgrace...

[tempestb]

Everybody invested and converted fiat to btc in order to buy a lot of Bitcoin chips, miners, etc.  Now everyone is either waiting for their miners/chips or they have them.  And those that have them are probably cashing out the coins they have to pay off any loans they made in order to afford the miner in the first place.

I suspect this causality will continue until the coin is around $30-$40.  At which point speculators will move in and buy up coins because they realize this is a temporary deflation. 

When the difficulty rises to where ASICs are like GPU's today, more people will invest directly in the coin and less on the mining hardware because they won't get a decent ROI.  At which point, I suspect we'll see the value take-off again.  The smart miner won't cash out right away, but there are not a lot of smart miners.

[PeZ]

The worldwide economy is worse than the numbers suggest and people need fiat to pay the bills.

[Tonko]

Asteroids are much more interesting computer game than Bitcoin.

[johnyj]

The worldwide economy is worse than the numbers suggest and people need fiat to pay the bills.

If they use fiat, they could never payback the bills

Each fiat dollar is backed by a equal amount of debt, when they get 100 dollar to pay the bill, they created a 100 dollar's debt to be paid somewhere else in the society, plus interest. So someone else might get a 103 dollar bill to pay, society as a whole become more and more debt laiden

[bitbryan]

It has do with psychology too. 100 is "magic number".

tru ster! its gonna stablize from 95-105 yawn!

[SilentSonicBoom]

Why does it have to go up? Price stability to some degree can help build trust in Bitcoin as an alternative to traditional currencies. Retailers that might accept bitcoin might not if prices fluctuate to violently with volatility.

[Lohoris]

Why is bitcoin price stuck around the same number and not  increasing, how likely  is it for bitcoin to steadily start going up again?

Bitcoin is scheduled to trade in a narrow range of 102 to 108 dollars until September.  From September until January it will gradually increase reaching a high of about 118.  That is why I am holding strong to my bitcoins till then.  The 2014 schedule has not been decided yet.

lmao gg

The worldwide economy is worse than the numbers suggest and people need fiat to pay the bills.

If they use fiat, they could never payback the bills

Each fiat dollar is backed by a equal amount of debt, when they get 100 dollar to pay the bill, they created a 100 dollar's debt to be paid somewhere else in the society, plus interest. So someone else might get a 103 dollar bill to pay, society as a whole become more and more debt laiden

dafuq?

Why does it have to go up? Price stability to some degree can help build trust in Bitcoin as an alternative to traditional currencies. Retailers that might accept bitcoin might not if prices fluctuate to violently with volatility.

+1

[brooksby]

Ah no worries.  It will go up eventually.  It may need to come down more first, but long term Bitcoin will rise.  Take advantage of the lower prices to buy more!

[msweb]

Why is bitcoin price stuck around the same number and not  increasing, how likely  is it for bitcoin to steadily start going up again?

Bitcoin is scheduled to trade in a narrow range of 102 to 108 dollars until September.  From September until January it will gradually increase reaching a high of about 118.  That is why I am holding strong to my bitcoins till then.  The 2014 schedule has not been decided yet.

lol, what's your source?

It was in one of those articles about stuff the NSA does.  If you can understand it it is in the MtGox source code.

I've no idea if that is true or not. But the point is it could be. Gox still has too much impact on the prize and so it's very easy for the authorities to prevent the creation from rising in value. And they sure do. We can't really know how much a Bitcoin is worth as long as we let the decision to centralized exchanges. A decentralized creation like bitcoin also needs decentralization when it comes to defining the prize. There is a lot of work to do before we are able to get there. Until then you can't expect any rise in value at all.

[EvilPanda]

For the last few days it's been dropping quite fast and that 102-108$  range you were talking about is now a distant memory.