Why bitcoin price dropped ?

[Rinorbirch]

Any Idea?

Post your opinion.

[bitcoin44me]

I think it is because there were more sellers than buyers

[DannyHamilton]

Dropped?

A year ago the high for the day was $6.88 per bitcoin.  Today the low so far was $72.5.  Sounds like an increase of $65.62 (853.78%) to me.

Perhaps you just meant since the beginning of this year (2013)?  Lets see...
Jan.1 the high for the day was $13.56.  Nope that's an increase of $58.94 (334.66%).

Maybe you meant the past 24 hours?
24 hours ago the exchange rate was $71.5.  At the moment the rate is $78.  That's in increase of 9% over 24 hours.

Perhaps you are just choosing an arbitrary time in the past when it just happened to be higher and comparing it to a lower value?
In that case, I'd say it dropped because you chose a time in the past when the exchange rate was higher.

[Spaceman_Spiff]

Dropped?

A year ago the high for the day was $6.88 per bitcoin.  Today the low so far was $72.5.  Sounds like an increase of $65.62 (853.78%) to me.

Perhaps you just meant since the beginning of this year (2013)?  Lets see...
Jan.1 the high for the day was $13.56.  Nope that's an increase of $58.94 (334.66%).

Maybe you meant the past 24 hours?
24 hours ago the exchange rate was $71.5.  At the moment the rate is $78.  That's in increase of 9% over 24 hours.

Perhaps you are just choosing an arbitrary time in the past when it just happened to be higher and comparing it to a lower value?
In that case, I'd say it dropped because you chose a time in the past when the exchange rate was higher.

Today's special is "Toast with a slice of Perspective" 

[arbfiend]

FYI - this is my first post.   I have been a long time lurker! 

I think there could be a lot of reason for the drop, though recently it seems the price seems to bounce up and down based on news stories.

All over the course of the last few months we have had PRISM, Mt. Gox withdrawal suspension, and Winklevoss twins exchange announcement (no way this will get approved).

 

[Xavlia]

I think it is because there were more sellers than buyers

I think that is the answer.   Why the sellers sell and why the buyers buy, that is the real question.

[nebulus]

A+, Mr. Hamilton

[TheAndy500]

Dropped?

A year ago the high for the day was $6.88 per bitcoin.  Today the low so far was $72.5.  Sounds like an increase of $65.62 (853.78%) to me.

Perhaps you just meant since the beginning of this year (2013)?  Lets see...
Jan.1 the high for the day was $13.56.  Nope that's an increase of $58.94 (334.66%).

Maybe you meant the past 24 hours?
24 hours ago the exchange rate was $71.5.  At the moment the rate is $78.  That's in increase of 9% over 24 hours.

Perhaps you are just choosing an arbitrary time in the past when it just happened to be higher and comparing it to a lower value?
In that case, I'd say it dropped because you chose a time in the past when the exchange rate was higher.

No more arbitrary than year-to-date, one year, or 24 hours.  It's certainly lower than the running average for the past month.  It sounds like you're rationalizing.

[DannyHamilton]

Dropped?

A year ago the high for the day was $6.88 per bitcoin.  Today the low so far was $72.5.  Sounds like an increase of $65.62 (853.78%) to me.

Perhaps you just meant since the beginning of this year (2013)?  Lets see...
Jan.1 the high for the day was $13.56.  Nope that's an increase of $58.94 (334.66%).

Maybe you meant the past 24 hours?
24 hours ago the exchange rate was $71.5.  At the moment the rate is $78.  That's in increase of 9% over 24 hours.

Perhaps you are just choosing an arbitrary time in the past when it just happened to be higher and comparing it to a lower value?
In that case, I'd say it dropped because you chose a time in the past when the exchange rate was higher.

No more arbitrary than year-to-date, one year, or 24 hours.

In case you hadn't caught it.  That was the point I was making.

It's certainly lower than the running average for the past month.

Which is just as arbitrary.  Those who want to believe that the price is falling choose arbitrary starting points to prove their point.  It is just as possible to choose arbitrary starting points to disprove the point.  How is it doing when compared to 24 hour running average?

It sounds like you're rationalizing.

As are you.

[Spaceman_Spiff]

I think it is because there were more sellers than buyers

No, there are always exactly the same number of sellers and buyers (who would the seller sell to when there is no buyer to buy it from him?).
The question is at what price people are willing to sell or buy the coins. At what price would you become a seller, at what price a buyer?

[noodlehead]

I think he means the drop from when it was steady staying at $100 give or take a couple dollars and now it is $70-$80. I really hope it goes back up to  $100, but would really like to see $150-$200.

[TheAndy500]

It's certainly lower than the running average for the past month.

Which is just as arbitrary.  Those who want to believe that the price is falling choose arbitrary starting points to prove their point.  It is just as possible to choose arbitrary starting points to disprove the point.  How is it doing when compared to 24 hour running average?

Sorry, that's my bad.  I applied my knowledge of the recent drop to infer context for OP's question.  I also assumed everybody else lived in the same world.

It sounds like you're rationalizing.

As are you.

This doesn't make sense.  Objectively, Bitcoin is down from its RECENT rolling average.  Your 1 year/24 hour/year-to-date seemed to be biased in Bitcoin's favor, which is why I suggested it was rationalizing. 

[DannyHamilton]

It sounds like you're rationalizing.

As are you.

This doesn't make sense.  Objectively, Bitcoin is down from its RECENT rolling average.  Your 1 year/24 hour/year-to-date seemed to be biased in Bitcoin's favor, which is why I suggested it was rationalizing. 

The 24 hour rolling average isn't a RECENT rolling average?  Your monthly rolling average seems to be biased against bitcoin, which is why I suggested it was rationalizing.

[pening]

It clearly dropped significantly (~30%) in the past two weeks, trying to play around with different time periods doesn't hide that fact.  the question here is why?  If there's no meaningful news, that doesn't say much for long term stability that the price can suddenly drop for no apparent reason.

[bitcoin44me]

It clearly dropped significantly (~30%) in the past two weeks, trying to play around with different time periods doesn't hide that fact.  the question here is why?  If there's no meaningful news, that doesn't say much for long term stability that the price can suddenly drop for no apparent reason.

The price will always change

[DannyHamilton]

It clearly dropped significantly (~30%) in the past two weeks, trying to play around with different time periods doesn't hide that fact.  the question here is why?  If there's no meaningful news, that doesn't say much for long term stability that the price can suddenly drop for no apparent reason.

Unless of course the exchange rate was over inflated two weeks ago and has simply returned to a sustainable value?

[xristoskostouros]

Dropped?

A year ago the high for the day was $6.88 per bitcoin.  Today the low so far was $72.5.  Sounds like an increase of $65.62 (853.78%) to me.

Perhaps you just meant since the beginning of this year (2013)?  Lets see...
Jan.1 the high for the day was $13.56.  Nope that's an increase of $58.94 (334.66%).

Maybe you meant the past 24 hours?
24 hours ago the exchange rate was $71.5.  At the moment the rate is $78.  That's in increase of 9% over 24 hours.

Perhaps you are just choosing an arbitrary time in the past when it just happened to be higher and comparing it to a lower value?
In that case, I'd say it dropped because you chose a time in the past when the exchange rate was higher.

Very,very,very optimist and very conversation maker. U go the conversation where you want to.
You dont speak the truth.
We have a decrease right now. We are talking about NOW, not the past.
In the past The world was better too, now is it better? ROFL.

Relax mate. Speak the truth. Bitcoin got dropped 2 times in a row 30-50% of its innitial price.
from $200 to $120 and from $120 to $70 in just MONTHS. Not years.
Relax mate.

[zeroday]

Don't worry, just thank God and buy cheap coins while this opportunity is open to you.
Bitcoin is volatile thing. It always goes up or down when a BIG player buys/sells large amounts. Then, add some "manipulation" and volatility goes even higher.
But remember that bitcoin has deflationary nature, which means it only gains in price over time (in long term).

To be successful bitcoiner just stick to a simple rule - Be patient and never sell for a lesser price than you bought  

[DannyHamilton]

Very,very,very optimist and very conversation maker. U go the conversation where you want to.
You dont speak the truth.
We have a decrease right now. We are talking about NOW, not the past.
In the past The world was better too, now is it better? ROFL.

Relax mate. Speak the truth. Bitcoin got dropped 2 times in a row 30-50% of its innitial price.
from $200 to $120 and from $120 to $70 in just MONTHS. Not years.
Relax mate.

I don't believe it is possible to cure cognitive dissonance via a discussion forum.  If you can see the arbitrary nature of my examples, but not the arbitrary nature of your own, I give up.

[pening]

It clearly dropped significantly (~30%) in the past two weeks, trying to play around with different time periods doesn't hide that fact.  the question here is why?  If there's no meaningful news, that doesn't say much for long term stability that the price can suddenly drop for no apparent reason.

Unless of course the exchange rate was over inflated two weeks ago and has simply returned to a sustainable value?

That is at least a reason.  so, following this approach, assuming the recent prices are an aboration and we now seeing a correction, where do you see the price falling to?  mid 40's? mid 30's?  longer term trend would suggest under 20.