Its been $800 for a reeeeeallly long time.....

[600watt]

People are pretty funny when it comes to definitions.

Personally I don't think this third bubble was a bubble at all.  I think it was a rapid climb to a new normal. I think bitcoin had 2 bubbles and then a popularity boom. Primarily the third bubble not-bubble was just about Chinese getting into bitcoin in typical Chinese fashion: somewhat delayed, but with a massive push.

I also don't really see how people can describe the third bubble as a bubble when it the price 'crashed' to 300% its value in over a month.  Like if something goes from $200 to $1000 than comes down to $800 (in the span of a month) how is that a crash?  

I guess many of you are expecting any day now for the price to fall to $400?  I really don't think this will happen.  I think our new bottom-bottom is $550 and we are not going to see any coins for less than $650 going forward, besides just a few days of 2014.

that is actually right. going from sub 150 (for ages) to 1100 and falling back to 800 is not really a bubble. maybe that is exactly what makes people nervous. it would really look strange on the chart if it would keep rising again now 

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[johnyj]

Because the mining cost also stayed relatively stable at this level for some time, the ant miner brought a new wave of cheap mining rigs. Although using BFL rigs the cost is much higher than $800, using ant miner can still keep the per coin cost at $800

[MatTheCat]

In the past 10 days, the price has hit $740 and $825. You guys have a completely different definition of "stable" than I do.

If you look at it as a % change thats very stable for bitcoin.

yep...silver has been much more volatile than Bitcoin in recent weeks.

[davidgdg]

The first six months of 2012 were also a bit of a snooze-fest. The price in June was pretty similar to the price in January.

[Dalmar]

The first six months of 2012 were also a bit of a snooze-fest. The price in June was pretty similar to the price in January.

You actually saw many ~25% weekly swings in that period. That would currently equal price going to 600 or 1000.

[davidgdg]

The first six months of 2012 were also a bit of a snooze-fest. The price in June was pretty similar to the price in January.

You actually saw many ~25% weekly swings in that period. That would currently equal price going to 600 or 1000.

That was only in the first six weeks. March, April and May were similar or even calmer than now.

[Rygon]

There's no mystery here. Most of the bears and bulls are waiting on regulatory and other legal decisions to guage whether bitcoin will take off with the general public or be viewed as a novelty. The market has already taken into account some of the bigger news stories this year also. Expect this kind of boredom until late March or early April.

[dynodog]

The primary reason that people own bitcoin (I believe) is bc they are looking for a place to store wealth and to speculate.  The idea is that as sovereign currencies implode bc of government printing and spending, an alternative will be sought.  Gold is one such place, but bitcoin is a better one bc, in addition to being limited in nature, it has the ease of transferring money cheaply and easily and globally.  But make no mistake, however - the vast majority of people would not get into bitcoin if its only feature was this ability to transfer.  It must have a possibility to increase dramatically for people to invest in it, and its market cap must go up dramatically for greater acceptance and liquidity. 

Anyone who has watched the bitcoin price closely can see that the price is being kept at just over $800 so that the bitcoin advocates can yell out "SEE HOW STABLE AND NON-VOLATILE IT IS NOW"  These large bitcoin holders, who have more bitcoin than they know what to do with, think that they are helping bitcoin by stablizing the price by capping it (mostly) and putting in a floor (occasionally).  For all their good intentions, they do not know that they are actually hurting bitcoin.

The reason that you are not seeing headlines like "bitcoin rallies on Argentina's peso decline" or "on Turkey's Lira's decline" or "on Puerto rico bonds to junk status" is bc of these huge bitcoin holders are holding the price at current levels.  When Cyprus had its debt issue last April, the price exploded.  Somewhat similar debt issues are taking place now, but no movement in the price whatsoever!

[MatTheCat]

Anyone who has watched the bitcoin price closely can see that the price is being kept at just over $800 so that the bitcoin advocates can yell out "SEE HOW STABLE AND NON-VOLATILE IT IS NOW"  These large bitcoin holders, who have more bitcoin than they know what to do with, think that they are helping bitcoin by stablizing the price by capping it (mostly) and putting in a floor (occasionally).  For all their good intentions, they do not know that they are actually hurting bitcoin.

By god. You have those two so much the wrong way around it is unreal. I take it you are a holder who is getting a bit bored with the lack of movement in the Bitcoin price, suspects that there is market manipulation holding the price in a range, but doesn't want to consider the fact that the manipulators may actually be protecting the value of your vaporous assets until 'reinforcements' can be sent (a genuine organic market demand returns to Bitcoin).

If you were watching these markets as closely as an obsessive compulsive day trader might, who is looking for both long and short opportunities, then you would be fully aware that these markets are being mostly held up, not capped.

[EverettMarm]

Anyone who has watched the bitcoin price closely can see that the price is being kept at just over $800 so that the bitcoin advocates can yell out "SEE HOW STABLE AND NON-VOLATILE IT IS NOW"  These large bitcoin holders, who have more bitcoin than they know what to do with, think that they are helping bitcoin by stablizing the price by capping it (mostly) and putting in a floor (occasionally). For all their good intentions, they do not know that they are actually hurting bitcoin.

By god. You have those two so much the wrong way around it is unreal. I take it you are a holder who is getting a bit bored with the lack of movement in the Bitcoin price, suspects that there is market manipulation holding the price in a range, but doesn't want to consider the fact that the manipulators may actually be protecting the value of your vaporous assets until 'reinforcements' can be sent (a genuine organic market demand returns to Bitcoin).

If you were watching these markets as closely as an obsessive compulsive day trader might, who is looking for both long and short opportunities, then you would be fully aware that these markets are being mostly held up, not capped.

Could just be that there are large buyers and large sellers that want to enter the market and exit the market without moving the price too much?

[BreathOfZen]

I would guess that most traders are waiting for MtGox to finally explode before getting back into the market, it just seems like way too large of an event to be trading in front of.

[conspirosphere.tk]

Could just be that there are large buyers and large sellers that want to enter the market and exit the market without moving the price too much?

imho stamp seems the playground of a bot programmed to keep price at 800 with scarce action beyond that.

[favelle75]

Something's gotta give.  On its run up to $266 last year, what price was it stable at prior and for how long?

What, you don't know how to read a graph? Are you retarded or something?

Good job adding to the discussion.  Thumbs up.

[boumalo]

In the past 10 days, the price has hit $740 and $825. You guys have a completely different definition of "stable" than I do.

If you look at it as a % change thats very stable for bitcoin.

yep...silver has been much more volatile than Bitcoin in recent weeks.

Twitter, Facebook or even more small penny stock have had way more volatility lately

Bitcoin's volatility has been mostly upwards

[BitchicksHusband]

Could just be that there are large buyers and large sellers that want to enter the market and exit the market without moving the price too much?

imho stamp seems the playground of a bot programmed to keep price at 800 with scarce action beyond that.

Some people believe it's a bot called Coinbase.  And they have enough money to control it indefinitely.

[MatTheCat]

Could just be that there are large buyers and large sellers that want to enter the market and exit the market without moving the price too much?

Could be. But if that is the case then someone certainly got a bit clumsy today.

After that heavy sell off pressure that came out of the blue, the Bid/Ask wall on Bistamp now looks like an elephant balancing on a fence post.

[jamesc760]

It looks like the bears are winning over the bulls...

Are you happy now that we've broken DONW through the stable $800 line?

[hellscabane]

Yes, it has been a while. Maybe with the Mt. Gox spread reducing there might be some activity. Or maybe not. Who knows?

I'll admit, it's nice to have stability in price for this long. It's like it is saying, "See, it could be done." There'll likely be more movement at some point in the short term, but I wouldn't be surprised if this stability lasts a few more weeks.

[JakeGold]

It has been was $800 for a reeeeeallly long time.....

Welcome to BTCitcoin

[frank754]

Bitcoin is crashing now, at 2:30 AM EST (USA) it's just dropped to USD $770. HODL or sell?