What caused the Bitcoin fall from 1k to 580$?

[prihedap]

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

let as consider reality reall world ther is demund for drugs and ther iz demund for bitcoin so why are you taking silk road bazaar out of the euation

[Kiki112]

possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol

btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.

let as consider reality reall world ther is demund for drugs and ther iz demund for bitcoin so why are you taking silk road bazaar out of the euation

he didn't..

he said without silk road btc is nothing which means he gave SR even greater value then other facts..

[Frisky]

A massive sell of BTCs

[MelodyRowell]

Mtgox..

[MonkeyDOH]

Bitcoin is doomed actually , that's the reason @OP

[mikhael]

MtGox issue might be the culprit why bitcoin price continue to collapse.

[Tc01017]

There are many reasons, but I would think that Mt. Gox withdrawal hold was one of the most important ones.

[roger11]

mtgox

[MicroCC]

Some ppl sell to stop loss and rebuy at a lower price. They lose in fiat but it gives them a chance to increase their coinage

[Putera]

Because people start trading BitGox >><< Bitcoin 

[MicroCC]

If and when gox allows btc withdraws, expect to see a huge crash on all the major exchanges because those who bought gox btc at $95 will gladly sell at $300-600. That's assuming gox is even trading real btc

[Jeezy911]

-China tried to ban
-Russia did Ban
-Silk road BS
-Pending American Regulations
-Media Blitz on all the negatives
-Mt. Gox
-Market became the biggest scam spot in the world
-500 billion shitcoins released
-Network was reported as "broken"
-Every dumbass in the world now knows about it, still known as "internet money"

Maybe?

[naphto]

sellers pressure
It is a free market

[Sheldor333]

The title is mostly self explanatory

Don't say Illuminati

Check Bitcoin Discussion section of the website, they will have most certainly have the best answers for you.

[marcovaldo]

-China tried to ban
-Russia did Ban
-Silk road BS
-Pending American Regulations
-Media Blitz on all the negatives
-Mt. Gox
-Market became the biggest scam spot in the world
-500 billion shitcoins released
-Network was reported as "broken"
-Every dumbass in the world now knows about it, still known as "internet money"

Maybe?

mt gox yes.