Dafuq is happening with btc price

[swecrypt]

We just went to 590-605(bitstamp-btc-e) price in matter of minutes.

Any news that justify that, or just some whale tired of bitcoin/price manipulation?

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.


 

[Ektra]

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.

Yep, I'm short on funds for more BTC partly due to the season. A stagnant price would definitely benefit me, assuming we see another growth spurt at some point after that.

[crazyearner]

Expect a big price drop. Already predicited months back where coin is going to go. Was at $600s to $680s then down to mid $630s to $650 areas Now market is where I said it would be at $600s to $580s.

Next week to 2 weeks prices will be at $550s to $440 area dont believe me watch the markets already sloley happening as bigger numbers in smaller trades over time are increasing in BTC vols increasing and other coins being bought  up. end of weekend LTC will get back into the $10s and $12 area so if you want to goon ltc markets id be moving stuff over their for now and enjoy some price increases on a lot of the other alt coins including one of the newest ones BitcoinDark and Curecoin. and a few others.

[GigaCoin]

Ethereum

[vuduchyld]

We just went to 590-605(bitstamp-btc-e) price in matter of minutes.

Any news that justify that, or just some whale tired of bitcoin/price manipulation?

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.


 

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.

[bananaControl]

Expect a big price drop. Already predicited months back where coin is going to go. Was at $600s to $680s then down to mid $630s to $650 areas Now market is where I said it would be at $600s to $580s.

Next week to 2 weeks prices will be at $550s to $440 area dont believe me watch the markets already sloley happening as bigger numbers in smaller trades over time are increasing in BTC vols increasing and other coins being bought  up. end of weekend LTC will get back into the $10s and $12 area so if you want to goon ltc markets id be moving stuff over their for now and enjoy some price increases on a lot of the other alt coins including one of the newest ones BitcoinDark and Curecoin. and a few others.

So it will soon be a good time to buy?

[swecrypt]

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.

I have all my savings in BTC. Of course. I'm not and idiot.
Are you american? (and still a strong believer in your monopoly toy money?)

[williamj2543]

The price is really boring these days. Hovering around the 600-700 mark and just slowly falling. I want some excitement!

[GigaCoin]

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.

I have all my savings in BTC. Of course. I'm not and idiot.
Are you american? (and still a strong believer in your monopoly toy money?)

Wow people still say this

[jjc326]

Hasn't the bitcoin price gone up every year recently?  What did it start at this year (I could look it up but I'm being lazy).  In any case we only have a few more months and there should be another explosion up in price, unless we have hit saturation of the market for now.  I mean what else could happen in the US that would increase the price?  US Gov. "endorses" Bitcoin?

[dropt]

Hasn't the bitcoin price gone up every year recently?  What did it start at this year (I could look it up but I'm being lazy).  In any case we only have a few more months and there should be another explosion up in price, unless we have hit saturation of the market for now.  I mean what else could happen in the US that would increase the price?  US Gov. "endorses" Bitcoin?

There are a whole lot of places in the world that aren't the US.

[akali]

theres always manipulation in price. lol. nothing new here man look at mt.gox who made it overpriced during the time it was $1,000.

[CoinsCoinsEverywhere]

The price is really boring these days. Hovering around the 600-700 mark and just slowly falling. I want some excitement!

Oh, be careful what you wish for.  You just might get it.

If we can't hold the $600 level, it will likely get quite exciting.

[jjc326]

Hasn't the bitcoin price gone up every year recently?  What did it start at this year (I could look it up but I'm being lazy).  In any case we only have a few more months and there should be another explosion up in price, unless we have hit saturation of the market for now.  I mean what else could happen in the US that would increase the price?  US Gov. "endorses" Bitcoin?

There are a whole lot of places in the world that aren't the US.

Of course, seriously how many countries really matter to bitcoin?  8? Canada, us, uk, Germany, Russia China Japan?  No one would care if Croatia, no offense to Croatians, endorsed bitcoin or something.

[needFREElunch]

The price is really boring these days. Hovering around the 600-700 mark and just slowly falling. I want some excitement!

Oh, be careful what you wish for.  You just might get it.

If we can't hold the $600 level, it will likely get quite exciting.

The price of bitcoin has always been volatile

[unpure]

2-3% price movement is nothing out of ordinary.

[azguard]

2-3% price movement is nothing out of ordinary.

Yup price dropped bellow 600$ now is back on 600$ again.
Seem like no big deal this happen from time to time.
More likely price will stay around 600% +/- few dollars.

[Tony Abbot]

I think I can explain what's happening with the price.

Some over-greedy people with low IQ moved almost all of their coins to places called MtGox and SilkRoad, where they could speculate freely and buy illegal stuff. Doing that, they ignored and defeated the most important part of bitcoin: decentralization and put into the hands of a few entities hundreds of thousands of coins (Mark, USMS etc)

The Silk Road and MtGox events are very important milestones in Bitcoin's history and personally I do hope that both Mark Karpeles and Ross William Ulbricht face at least 20+ years of jail time for their deeds. Their 'businesses' had good parts also and if we were in an ideal world, I would oppose jail time and put their asses to hard work, but since this is not possible, jail it is.

Their actions brought immense bad news over Bitcoin as a whole and stopped much of the adoption phase. We have also the 'speculators', which buy and sell bitcoins only for fiat profit (never ever forget that, it's all about $) - they help a lot to crash the price, which in turn brings bad bad news. There is a small fraction of speculators which try to make their BTC holdings bigger, but that's another matter.

While I do not wish for it to happen, because too many people would suffer, a global financial crysis would put Bitcoin right next to gold and silver and potentially make it a New World Currency. But that would be a forced adoption in my opinion and I'm pretty sure we'll see lots of tears from the people that heard, used, speculated, mined or stolen bitcoin and never understood what's it's purpose. I'm sure that each one of us will regret of having even 1 BTC and not putting it to storage for a long time.

As much as I hate having our beloved coin's image being tainted by that stuff, I can't help but feel that these black markets are actually helping BTC's cause. The auction of the seized coins was ultimately a good thing for BTC and the fact that these markets are actually using this currency in the way it's designed instead of hoarding it, is a dirty,  but working "proof of concept" at the very least.

Yay for me, long time listener, first time caller. . I've been reading this forum for a long time now and I am long on BTC and have invested a signifiant proportion of my limited wealth. I'm currently torn as to weather to invest the lot and sell bits and pieces when I need cash. This would ensure that I'm well placed for the "moon" but hopefully can quickly change my position if things look seriously grim.

[Wilhelm]

Whales are rocking the boat since price has been stationary too long. Shaking out all the weak hands

[falllling]

Whales are rocking the boat since price has been stationary too long. Shaking out all the weak hands

cut lose now or cut lose at $4xx