Bitcoin Price, will it drop/raise or stabilize at this point ?

[mmitech]

to everyone think that price will drop to $300-500!!!

there must be an instant dump of  8000+ BTC in order to crash price to $600
there must be an instant dump of 25000+ BTC in order to crash price to $500
there must be an instant dump of 45000+ BTC in order to crash price to $300


to everyone think that price will 1jump over $1200+

there must be an instant buy order of 10000+ BTC in order the price will jump back to $1200






you still think you will see $300-500 ?  you still believe the price wont go over 1200 ? I really would reconsider my plans at this point... you have to reconsider your plans, my opinion is that the next couple of weeks we will have another race up.

declaimer: do not take my advice! I am no financial expert, I am just expressing my opinions.

[zimmah]

if i recall correctly the price went pretty much horizontal after the april crash for several week and then started to climb again.

probably a similar thing will happen now.

[zeroday]

The most of traders are "stealth" and doesn't appear in market depth.
IMO, bitcoin is going to recover and beat new ATH this month.
Also don't forget that FATCA madness is on the way

[martins]

i think 300$ is being generous to what happend, must be worse than that and i think it's going to his foot's again, maybe 115$-160$, before the Chinese blowed it.

[GreekGeek]

if i recall correctly the price went pretty much horizontal after the april crash for several week and then started to climb again.

probably a similar thing will happen now.

in my opinion
1.the market will stabilize around here (650-850 roller coaster)
2.the cause of the drop was not the BankOfChina announcement  but the fact that BankOfAmerika pegged the price to 1300 USD/BTC
   many people realized that bitcoins are overpriced at the moment and cashed out ,
   this in turn will make new buyers more sceptical/carefull on when they should board the train

[tescomatty]

i think 300$ is being generous to what happend, must be worse than that and i think it's going to his foot's again, maybe 115$-160$, before the Chinese blowed it.

You would need a lot of coins for 115$-160$ to happen or very bad news

[beaconpcguru]

if i recall correctly the price went pretty much horizontal after the april crash for several week and then started to climb again.

probably a similar thing will happen now.

in my opinion
1.the market will stabilize around here (650-850 roller coaster)
2.the cause of the drop was not the BankOfChina announcement  but the fact that BankOfAmerika pegged the price to 1300 USD/BTC
   many people realized that bitcoins are overpriced at the moment and cashed out ,
   this in turn will make new buyers more sceptical/carefull on when they should board the train

So, your opinion is that the revolutionary changes that are currently at risk of severely impacting banks income is capable of being valued, by the bank, at almost its trading median at that time the evaluation is being made?  Interesting... I should sell now and put my orders back in January time frame of 10$, the banks say that this can't be worth anything more than what it was trading for, your right.  Its so clear to me now, I'm definately going to reintegrate my money back into a Money Market account because the interest at 0.355% a year is just too damn tempting to pass up.

Also... as for the topic, everyone conveniently forgets to mention to those that didn't know that the real panic happened in April when the blockchain was forked, BTCGuild had >50% of network hashrate, client had a vulnerability and finally Gox's trading engine went out for 24 hours with 12 hours of lag and then trading was suspended.  The current events, at this point, cannot yet be applied.

[Mirsad]

i think 300$ is being generous to what happend, must be worse than that and i think it's going to his foot's again, maybe 115$-160$, before the Chinese blowed it.

You would need a lot of coins for 115$-160$ to happen or very bad news

That's not true. Just a lot of buy order shifting. Lot's of orders are fake, but it gives a good feeling to buy at high prices. Simple market manipulation.

[FeedbackLoop]

My experience with markets in general is that order depth can very deceiving when large movements are going on, ressonating with what others posted above.  That said, and for all it's worth, I personally don't think it will go any lower and would love to have the liquidity in confetti money right now to reinforce. Also, I suspect a lot of small players are a bit tapped out due to the grand Christmas seasonal wastage.

My 2 uBTC