Anyone have any idea why the price continues to fall?

[Bit_Happy]

Anyone have any idea why the price continues to fall?

Yes.
Long-term ~80 to 90% of speculators/traders lose money ~Source == old-school common knowledge
You are currently finding out why people lose. Anyone who buys now (and buys more at low $400), has wildly favorable odds of eventually coming out ahead, but....
The masses are selling.
^^^
THAT is why most people lose. (combined with the fact they buy too high)

[DieJohnny]

Bitcoin is priced above its utility value that is why it is dropping. People fail to realize that thousand of new coins are mined every day, we have a continuously growing money supply in a brand new market. The spikes only represent temporary shortages of coins, but when things settle there are more than enough coins to give to new buyers.

Price will continue downward until many people actually give up, many people being a large number on this very forum. One year sounds like such a short period of time but for the typical joe-blow investor they lose interest and belief, they sell and move on to something else.

So imagine what you think the surrender and move on price is. I think it may be below $300 and for 3-6 months. It may even be below 100... that would really clean things out.

Bitcoin can still be passed over by something more accepted and embraced by a government. I am keeping my eyes open. Holding coins I have left, will only speculate on alternatives with new money as they arise.

[Ibian]

in case Bitcoin dies. And that IS a real possiblity

Explain how. It means nothing until you do. Realistic scenarios, please.

Let's see: governments mass banning Bitcoin for one. Government stances towards Bitcoin at the moment cannot be described als positive and can even be hostile in certain countries. Second: people losing faith in Bitcoin, since they don't believe it has enough intrinsic value/because they find it dangerous/because the media tells them/when rally's stay out.

But governments are the major problem here: they can completely cut the bank-exchange infrastructure needed for trading bitcoins. As such, the vast majority of people will leave Bitcoin as trading has just become too difficult/impossible. Only a few anarchists will stay behind, but a few outcasts can't dictate society.  Bitcoin is still an unborn child, attached to its mother umbilical. Cutting that line of completely, which isn't impossible, will choke Bitcoin to death for sure. If that doesn't happen, loss off faith will might just as well kill it.

None of those fall under realistic. This is about money, and that means world leaders are going to go in opposite directions merely out of principle. There will not be a global ban, which is what it would take.

There are not enough people involved yet to "lose faith". Most people who invest in bitcoin now, at this stage, do it in spite of the media. Wait for mainstream adoption, then we can talk about people losing faith and the price dropping to 10k.

As for exchanges, they are a temporary thing to help spur adoption. There is nothing theoretically stopping localbitcoins from some day being the normal way of trading. I can easily see regular bitcoin meets in most major cities as well. Once your neighbors start using it, that's a new local market. This even works for large amounts if people start diversifying into gold. All depends how much people want it.

[Bit_Happy]

Under $100 was possible when the all-time high was ~$265.
BTC under $100 is now highly unlikely.

[orpington]

I just sold 1 Bitcoin ( I have many).

But, usually right after I sell one, the price rises magically.

Just watch....

[SomeRelax]

I just sold 1 Bitcoin ( I have many).

But, usually right after I sell one, the price rises magically.

Just watch....

lol
lets hope you be right

[Sawadekub]

21st march.. btcCHINA ceo said that china did not really ban bitcoin..

dude use your brains... u think huobi ceo + litecoin CEO + btcchina CEO do not have friends from the goverment?

of course they do.. so do u think they will have the news first or the corrupted reporters that will report for $ that tells the truth??


its like if your the MANAGER if there is any news.. do u think the director of your department will tell the manager first or your staff or your cleaner?

of course your manager will know first, not your mum or dad !!

wake up.. use some IQ please.. of course the damn bloody news is fake...ITS A FUD.. so dont get FK up by a FUD...


http://en.wikipedia.org/wiki/Keynesian_beauty_contest <<<< price drop cuz of this stupid reason...

[aminorex]

Price is going down because you can buy btc cheap in china and sell rich in bulgaria.

[zakalwe]

Price goes down......price goes up. This is how it works. This is a downtrend.

But you guys are not considering the essence of bitcoin. Or better I should say the MIRACLE of the blockchain.

Anyway I only know that if it goes too low miners turn their machines off. So no new bitcoins. Then price will go up.
Since difficulty grows up fast due asics  I expect price to raise violently in next 2-3 months.

And so will do several cryptos.

This or for some reason (I can imagine only about internet global failure) crypto currencies will go to zero.

There are no middle solutions. Bitcoin won't stay long at same price.

So I don't know you but me I'm just waiting smoking my big cigar. As I am doing since its price was 10.20 (September 2012, not ten years ago...)


Governments and central banks sooner or later will embrace this technology because it allows faster transaction and certified operations. And there are several other projects going on right now.

It's simply the future.

Enjoy life all, haters also


Edit: typo

[igorr]

we enter into the fifth month of constant decline in prices,
Check Trend line from decembar 2013 year !

Trend and price before 1 month:


Trend and price today, It not look good, the price follows the trend


See you again within a month with trend lines and current price.

[ProfMac]

While the China news may or may not be real, the US IRS news is.  While the ruling is not unexpected by treating it like a commodity and triggering tax events whenever it changes hands the US has put a real damper on BTC.  It will take awhile to find a work around I expect.

In the meantime, I'm holding, but my excitement for bitcoin as a new system is diminished.

Is there a comment period still open on this ruling?

[dandirk]

Anyway I only know that if it goes too low miners turn their machines off. So no new bitcoins. Then price will go up.
Since difficulty grows up fast due asics  I expect price to raise violently in next 2-3 months.

There will always be new bitcoins even if just one person is running their USB miner...  Well they do have to sell them...

Dunno bout difficult raising violently, for that to happen highly powerful and efficient miners will have to come out.  There are a lot of pre-orders waiting and the china dragon 1TH miner available now but these aren't revolutionary and won't be as effective as the first wave or 2 asis which caused the massive diff jumps.   Most miners are now mining at a loss due to btc price, though I suspect the price isn't so low to turn off miners, but they will be more likely to hold if they can.

[igorr]

First look at this;
View Screen Capture

And then check this:
View Screen Capture

Current production cost ASIC chip is about $ 1 per GH / s +all this should pin for printed circuit boards + add power
which increases production costs at 1.4 usd per GH / s.

Current mining factor is about 0048 USD per GH / s to 24 h,
(For 8 days will be -24% or $ 0036 for GH in 24 hours and only if the price is not falling below 500 usd)
Try to calculate how long it would be profitable for mining mining hardware manufacturers.

[zakalwe]

Anyway I only know that if it goes too low miners turn their machines off. So no new bitcoins. Then price will go up.
Since difficulty grows up fast due asics  I expect price to raise violently in next 2-3 months.

There will always be new bitcoins even if just one person is running their USB miner...  Well they do have to sell them...

Dunno bout difficult raising violently, for that to happen highly powerful and efficient miners will have to come out.  There are a lot of pre-orders waiting and the china dragon 1TH miner available now but these aren't revolutionary and won't be as effective as the first wave or 2 asis which caused the massive diff jumps.   Most miners are now mining at a loss due to btc price, though I suspect the price isn't so low to turn off miners, but they will be more likely to hold if they can.

Even if miners keep cryptos the result is the same.

As I said in these situation who holds wins.

Cheers

[Erdogan]

Relax. The price must necessarily be below ATH most of the time. A few brief moments it can be at ATH. It can never be above.

[segeln]

we enter into the fifth month of constant decline in prices,
Check Trend line from decembar 2013 year !

Trend and price before 1 month:


Trend and price today, It not look good, the price follows the trend


See you again within a month with trend lines and current price.

great you spread in every thread this classical bullish flag

[igorr]

we enter into the fifth month of constant decline in prices,
Check Trend line from decembar 2013 year !

Trend and price before 1 month:


Trend and price today, It not look good, the price follows the trend


See you again within a month with trend lines and current price.

great you spread in every thread this classical bullish flag

Obviously, you fear is that people see this

[zakalwe]

Relax. The price must necessarily be below ATH most of the time. A few brief moments it can be at ATH. It can never be above.

Lol

[lynn_402]

Support is holding quite well at 500$.
Bullish month of April incoming?

[igorr]

Support is holding quite well at 500$.
Bullish month of April incoming?

Trend and price today, It not look good, the price follows the trend