Dafuq is happening with btc price

[thrax]

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.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately.  But this explanation makes a lot of sense to me, I'd wager this is what's going on.  Just wish I had bought now instead of several weeks ago when it was $650.  Oh well, I'm still confident that it'll go up again - eventually.

This makes sense to me because I was considering selling some of my investments to go on vacation myself

[crazyearner]

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.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately.  But this explanation makes a lot of sense to me, I'd wager this is what's going on.  Just wish I had bought now instead of several weeks ago when it was $650.  Oh well, I'm still confident that it'll go up again - eventually.

This makes sense to me because I was considering selling some of my investments to go on vacation myself

Go right ahead and sell then ill buy them up xD Sell later n go on bigger longer vacation or go in Dec for Christmas

[thrax]

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.

I was really puzzling over why the price kept trending downward given that running a full node has shown me that the volume of bitcoin usage has gone up significantly lately.  But this explanation makes a lot of sense to me, I'd wager this is what's going on.  Just wish I had bought now instead of several weeks ago when it was $650.  Oh well, I'm still confident that it'll go up again - eventually.

This makes sense to me because I was considering selling some of my investments to go on vacation myself

Go right ahead and sell then ill buy them up xD Sell later n go on bigger longer vacation or go in Dec for Christmas

Unfortunately, I decided not to have a holiday because they are usually shit anyway. I'm sure you will find plenty of sellers though, judging by the way the price is falling.

[CoinsCoinsEverywhere]

You cant judge bitcoin like some stock that realy has calculatable value behind it.
Bitcoin is speculative guess at best, since there is nothing backing it up.

The reasong why its so volatile, and currently experiencing another dip, is by my opinion mass of investors that went in on bitcoin expecting very fast progress that didn't happen, and they are currently leaving the market, worrying that they will have further losses.

Sure you can depending on where your trading and give a good indication on where things are at currently and seeing some big dips and if you follow all the new around Bitcoin you will find your answers within news and current trades going on all over the place. Theirs some big ish walls to get past $590 area however I see a down trend and it will continue unless some big players decided on hopping on having said that dell now accept Bitcoin but they not really doing that much in terms of buying selling or people buying their products.

At this point, I think that adoption is only going to have much effect in the longer term.  If I buy some BTC so I can spend it right away on Dell's website, what I'm doing is effectively price neutral.  And if you have people that already have BTC from the early days or mining, when they spend at merchants, the merchants will likely trade in their BTC for fiat, and you end up with downward pressure on the price.  For the price to go up, we need investors.