For those ready to call me a troll, fuck off.
Reasons why bitcoin will continue its fall:
1) Nothing new or exciting is happening (since silkroad really).
2) Nothing new or exciting is even visible on the horizon.
3) News media pays no attention (why would they?).
3) Information and knowledge about bitcoin is as a result isolated (to a few forums).
Well not actually: a lot of people out of forums knows of bitcoins. But due to point 1 & 2 noone move in
4) Bitcoin owners realise this and are selling at a loss (reducing the currency value). [/i]
Not true, a lot of people here can earn even at 1-2$: there will be millions of BTC mined or bought at sub 1$. And the market deep of last weeks is really low (even for BTC).
Ask yourself one question - why up rather than down?
Good luck and happy trading!
Is correct that now it can only go down (and with a 3 days of bank closed is even worse) and so will do for some week probably (not at this rate I hope). But I think that in future (not a week or a month maybe 3-4 months) it shall go up again.
Remember that bitcoin is only 2 years old, normally investments and commodities are considered over a range of years, but overall we are over the level BTC have 4 months ago, and to compare a 6 month value the grow is of 400%. And we have more BTC around so value and prices are both incremented.
Looking at the chart I don't see a so bad situation:http://bitcoincharts.com/charts/mtgoxUSD#rg180zigDailyzlztgTzm1g10zm2g25zi1gCMF
Specially confronted with some other:http://finance.yahoo.com/q/bc?s=^IXIC&t=6m&l=on&z=l&q=l&c=^GSPC%2C^DJI