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Author Topic: who know what time can going up the bitcoin price?  (Read 753 times)
btczyc (OP)
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August 30, 2011, 07:36:53 AM
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i have been waiting for the Bitcoin price going up at long time ,what it keep going down?
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silverchair
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August 30, 2011, 08:03:06 AM
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Be patient my friend, this will not take long.  Wink

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August 30, 2011, 08:06:47 AM
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when the big hand points straight up and the little hand points straight down. that is the time to... panic!

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September 02, 2011, 06:28:50 AM
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It's like the stock market - no one knows for sure.  It could theoretically go down forever.

I personally expect it to keep declining for a while.  The current price mostly reflects a speculation bubble and the actual economic need for people to hold the BTC as a currency could be fulfilled at a much lower price (well under $1).  The only ways I see for the price to start going up again are: a) more hype (not likely, I think that one is burned out); b) more merchants accepting the BTC as a currency, which will increase demand.

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September 02, 2011, 12:38:48 PM
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At moment its just way more people using mining rigs and willing to sell their BTC to get money from them, as actually people are willing to buy BTC to then buy goods with it.

As long as more people flood the market with their mined bitcoins than actually new people comming into the system as users of the payment system, the price will keep falling.
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September 02, 2011, 05:53:42 PM
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i have been waiting for the Bitcoin price going up at long time ,what it keep going down?

Start reading the economics and speculation forums here.  That's where you'll learn a bit about what makes the market move up or down.  Take it with a grain of salt because a lot of what is posted is either garbage or guessing.  Still, worth checking out.
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