Negative news about Bitcoin is nowhere to be found, yet the price is falling

[Nagle]

I doubt we'll ever see below $400 again.

$405 right now on BTC-E.
...update
$401.7 right now on BTC-E.

[byt411]

http://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban/
http://www.coindesk.com/price-bitcoin-remains-500-amid-china-uncertainty/
http://www.coindesk.com/chinese-central-bank-officials-discuss-bitcoin-new-rumors/
http://www.coindesk.com/btc38-suspends-trading-cites-china-central-bank-guidance/
http://www.coindesk.com/deposit-freeze-chinese-exchanges-drives-bitcoin-price-below-400/

No, no bad news at all. I haven't even bothered to get all the links.
Try spending some time searching.

Dude, did you even bother to read my post? I'm not talking about Coindesk, I'm talking about Google News which is a WAY broader source of news. Not even comparable to Coindesk.

Coindesk is the best source of crypto news for people interested in it, and thus, most people read what is there.

The masses learn about what happens in the Bitcoin world on the mainstream media and websites. 99% of the general public doesn't even know Coindesk exists.

The "general public" does not own any bitcoins, so therefore they cannot affect the price.

[Bit_Happy]

Looking at BTC-E, there seems to be a lot of dumping in the past 4-5 hours. Before that happened, the prices were stable. The dumping decreased the exchange rate from $420 to $380.

Normal pattern: Weekend slump + retesting the recent low.
It's already back up now. 
$412+ less than a 1/2 hour ago.

[igorr]

Normal fall from 1240 to 400 usd ?

[Mister S]

That's the thing about skiing Mt. Bitcoin (Not to be confused with MtGox). Once you take the fun ride to the bottom, you get to hit the triple diamond slopes again.

Ride it out. 1240 to 400 was to be expected with people taking enormous losses from Gox and the looming threats of regulation and taxation. Now the regulatory and legal issues are less frightening, more real, and less rumor. Mt.Gox is gone, and has left us with a much wiser, broader audience and user base.

I'm not going to speculate....

No. Really. I'm not.

But Bitcoin isn't at it's new stable price point. Far from it.

[Bit_Happy]

Normal fall from 1240 to 400 usd ?

Yes, that is also normal for a speculative market.

[TERA]

Why is there an attitude that every bitcoin price movement should have something to do with "news"? That is ridiculous.

[master-P]

Why is there an attitude that every bitcoin price movement should have something to do with "news"? That is ridiculous.

Exactly. Plus there is bad news on Google too; 'miners facing substantial losses', 'bitcoin bound for guns and gold crowd', 'Bitcoin firms dumped by Australian National Bank', etc.

[johnyj]

Miners are cashing in most of their mined BTC (3600~4000 every day) to pay their bills as difficulty increasing mining is getting more and more costly.

4000 BTC at 400$ each amount for about 1.6m$ every day.

You need a really strong buying support to get over that.

If you sold the coin, you are realizing the loss, thus would never make it back. So the wise move is to stop the miner so that you don't need to pay the bills, and then buy the coins

Including previous holder's cash out, there should be several thousand BTC for sell every day, but 1.6m$ every day is really nothing if you comparing with FED printing 2.5b$ every day

[jdun]

Why is there an attitude that every bitcoin price movement should have something to do with "news"? That is ridiculous.

Exactly. Plus there is bad news on Google too; 'miners facing substantial losses', 'bitcoin bound for guns and gold crowd', 'Bitcoin firms dumped by Australian National Bank', etc.

Yeah there does seem to be a lot of negative news, yet the price does not seem to reflect most of this. Amazon says "no", but "Tigerdirect is now accepting bitcoin".

[koshgel]

All begins with one huge DUMP.