Why has Bitcoin been so stable in the last few weeks?

[DrBitcoin]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

[1713901890]

1713901890

[Crindon]

Probably because of the news of Gox and the waves of people hoping for a low price of Bitcoin buying in, thereby cancelling each other out.

Still, it feels like the calm before the storm or bull rush.

[TTM]

if you look at all-time history of bitcoin, this is not first time the price appear to be stable.

But you are Dr. Bitcoin ! You have a lot of knowledge about Bitcoin ! You should give us advices instead of seeking answers from us  

[amspir]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

I'm under the impression that there are large scale investors that can knock the market around quite a bit when they are changing positions.   Until there is more inertia, it's going to be like that for a while.   I think the last estimate I saw was that 80% is held for investment, while 20% is in use as a transaction medium.

[HorseCoin]

it's current value is infinity.  so treat it careful.   

[virtuexru]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

I'm under the impression that there are large scale investors that can mark the market around quite a bit when they are changing positions.   Until there is more inertia, it's going to be like that for a while.   I think the last estimate I saw was that 80% is held for investment, while 20% is in use as a transaction medium.

Probably the best answer in this thread thus far..

[TKeenan]

Isn't there something we can do about this?  We've got to find a way to destabilize the thing.  How are all the speculators going to make money if it just sits there?  This is a real disaster for bitcoin.  They should tweak with the protocol a little bit to cause better price swings.  Let's face it, nearly everyone here could give a rat's about building a great system, they just want 'zoom to da moon'.  Bitcoin is for speculators and quick money.  Stability is the enemy.

[DrBitcoin]

Isn't there something we can do about this?  We've got to find a way to destabilize the thing.  How are all the speculators going to make money if it just sits there?  This is a real disaster for bitcoin.  They should tweak with the protocol a little bit to cause better price swings.  Let's face it, nearly everyone here could give a rat's about building a great system, they just want 'zoom to da moon'.  Bitcoin is for speculators and quick money.  Stability is the enemy.

I know you're being sarcastic, but if you read my original post, which is debatable, I am simply questioning why it has stabilized, not whether it is good or bad.

[bananas]

Ii seems nobody wants to buy. No new money is coming and people already in it are getting away from exchanges not by selling but by withdrawal(see the low volume these days).

[ljudotina]

All bad press caused by Gox and some others stopped new ppl from getting into BTC, so naturaly, price stabilized and is dropping only on ocasions when someone from one reason or other is getting out. As soon as news get little brighter, you can expect new ppl pouring in and price start jumping up and down.

[Dalmar]

The smart speculators realized that bitcoin was in a giant descending triangle and sold out long ago. They are waiting for the dumb money to realize this and panic at the bottom.

[eiskalt]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

To me bitcoin is not looking stable, but weak.

So question should be: why is bitcoin so weak lately?

[DrBitcoin]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

To me bitcoin is not looking stable, but weak.

So question should be: why is bitcoin so weak lately?

I don't get this mentality. Why are you on this forum if you think this way? Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

1BTC = $600. How is that weak? Something that basically didn't exist 4 years ago is now worth $600.

[bitjoint]

The lullz before the storm...

[eiskalt]

I don't get this mentality. Why are you on this forum if you think this way?

The childboard is named "Speculation". Prices go up or down.

Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

Projecting much?

1BTC = $600. How is that weak? Something that basically didn't exist 4 years ago is now worth $600.

Something lost around 50% of its value and has now no volume.

[arepo]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

To me bitcoin is not looking stable, but weak.

So question should be: why is bitcoin so weak lately?

I don't get this mentality. Why are you on this forum if you think this way? Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

1BTC = $600. How is that weak? Something that basically didn't exist 4 years ago is now worth $600.

this was a terribly aggressive response to one person's opinion about the market value...

are you afraid of bears?

edit:

Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

Projecting much?

+1

[DrBitcoin]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

To me bitcoin is not looking stable, but weak.

So question should be: why is bitcoin so weak lately?

I don't get this mentality. Why are you on this forum if you think this way? Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

1BTC = $600. How is that weak? Something that basically didn't exist 4 years ago is now worth $600.

this was a terribly aggressive response to one person's opinion about the market value...

are you afraid of bears?

edit:

Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

Projecting much?

+1

Fortunately one of these two does not apply to me.

[Wilhelm]

Lately, Bitcoin has stabilized at about $610-615. I have buy orders at $599 and none of them triggered. Any idea what is causing this stabilization? Forget whether it is a good thing or not, what is causing it? Is it due to a change in volume? Less interest in Bitcoin in general? Any thoughts?

To me bitcoin is not looking stable, but weak.

So question should be: why is bitcoin so weak lately?

I don't get this mentality. Why are you on this forum if you think this way? Is it that you are jealous that you are not one of the initial few who bought in early and made a fortune? Or is it that you are broke and can't afford to buy in now?

1BTC = $600. How is that weak? Something that basically didn't exist 4 years ago is now worth $600.

Maybe he is referring to weak as in low volume...

[Ekaros]

600 seems overrated to me...

Maybe it's just current stability with holders, fresh coins and coins not in circulation... Could move downwards in future...

[Bit_Happy]

BTC is still a little baby.
Right now the baby is sleeping.
When he wakes up, watch out.