What are the reasons behind Bitcoin staying at $400-600 range after $1200 bubble

[Trance]

This seems like an interesting topic for veterans of financial interests

[beetcoin]

bitcoin made a big splash, then bad news came about and whales pulled out. they have not been stoked or excited since, so the price has been lagging.

there has been good news, but that is merchant adoption.. which is more geared towards bitcoin's long-term success. people tend to shoot for the short-term gains than they do the long game.

[bbit]

bitcoin made a big splash, then bad news came about and whales pulled out. they have not been stoked or excited since, so the price has been lagging.

there has been good news, but that is merchant adoption.. which is more geared towards bitcoin's long-term success. people tend to shoot for the short-term gains than they do the long game.

What is disturbing is the amount of press regarding VC  money being poured in hasn't moved the needle at all. When should we sell? When BTC is at $600 in December?  I mean the needle is not moving with all the good news lately which is disturbing!

[beetcoin]

bitcoin made a big splash, then bad news came about and whales pulled out. they have not been stoked or excited since, so the price has been lagging.

there has been good news, but that is merchant adoption.. which is more geared towards bitcoin's long-term success. people tend to shoot for the short-term gains than they do the long game.

What is disturbing is the amount of press regarding VC  money being poured in hasn't moved the needle at all. When should we sell? When BTC is at $600 in December?  I mean the needle is not moving with all the good news lately which is disturbing!

it's likely that we will see a bull run if we get either new players into the market, or the current players to buy more bitcoin than they currently are. so an ETF would open the door to a shitload of new capital, and imo bitcoin might continue to grow for quite some time if that were the case.

having more merchants accept bitcoins, or even VC money getting invested, lays the groundwork for more people to buy bitcoins.. but it's not necessarily in the immediate future.

[giveBTCpls]

People is just testing the waters. Too much too quick leads to this. Big hype, steady long price, another big hype and new ceiling is stablished with the obligatory crying people that didn't invest this time yet again missed the boat.

[bctmixpot]

$1200 is probably the highest btc price we will ever see.. it will more than likely stabilize in around $400 more or less. $1200 was just a bubble. if anything big is going to happen with price I believe it will be bad, as in crash. but I will still use either way <3

[Cranky4u]

Simple fundamental of gwp
.01% of gwp is 8bil
Mkt cap of btc

Thats 700k people
.01% of 7bil

So when btc has 7m users thats .1% of world pop

.1% of gwp 80bil

That is 5k btc

Now that blockchain is in apple app store

7m users gonna come fast

Blockchain my wallet data showed 700k users at peak of last bubble 1k

They got 1.8m now

Now they in apple so when their my wallets shows 7m user
Btc b 10k spike 5k floor

Thats what money people are saying

I like the logic.

[franky1]

 247bitcoinnewscom

your the adoni sockpuppet.. you are an emotion noob that has been found out twice that he knows little to none. but anyone with sanity that follows statistics has seen proper bitcoin related patterns. mainly the average lows correlate to the cost of mining..
stop advertising your scammy book, you scammy ibitdeals ibitunes, ibitloans.. your too obvious


but anyways back on topic

november to december asics came about causing a rise in costs, which miners hoarded to cause a demand pickup..(along with the chinese speculation coincidntly)

the cost of mining was about $300
january/february mining costs were $350-$400
march april mining costs $400-$450
May-june mining $500-600

now to talk about market prices
i prefer to deal with the LOWS as thats normally where true value is (the point where even dumb people refuse to sell at a loss), anything above that is idle speculation,... usually

now if you took away media hype about china that caused the speculative profiteering of winter.. (or simply drew a line at the month lows from autumn2013 to spring/summer2014 of the market price.. you will see we are on track.

the november to march was overhyped prices, which have corrected themselves.  but thats my opinon

august should be around $650, we are already seeing market volume decrease(a dip) where miners are hoarding, and trying to make the price start to go up(then a rise).. so lets see what august brings.. again, personal opinion

[haploid23]

This thread belongs in the speculation section, because no single person controls the market, so no single person can give reasons with absolute certainty.

Personally, I think mtgox was the spark that shook off a lot of confidence in people. It'll eventually recover, but we probably won't see as quick of a spike as November of last year.

[keithers]

bitcoin made a big splash, then bad news came about and whales pulled out. they have not been stoked or excited since, so the price has been lagging.

there has been good news, but that is merchant adoption.. which is more geared towards bitcoin's long-term success. people tend to shoot for the short-term gains than they do the long game.

What is disturbing is the amount of press regarding VC  money being poured in hasn't moved the needle at all. When should we sell? When BTC is at $600 in December?  I mean the needle is not moving with all the good news lately which is disturbing!

Also we have yet to see any real bad news roll out lately.   If some legitimate bad news rolls out, then we will see if prices continue to hold firm.  I don't want to speak too soon, but it looks like we may have gotten to the point where good/bad news doesn't cause as big of a knee jerk reaction with prices

[franky1]

september-october averaged a $125 price (before the ASIC onslaught). but the first week of october seen a drop to the $90's then up up and away..
so lets call that a 25% panic and idiot sale crash event.. which soon corrected itself.. we could see another 25% crash followed by a larger rise, or a nice smooth slow rise with some 10% movements in both directions to keep us on our toes.

only time can tell

[btcforall777]

somebody large is dumping. maybe the guy that bought the FBI coins?

[jonald_fyookball]

247bitcoinnewscom

your the adoni sockpuppet.. you are an emotion noob that has been found out twice that he knows little to none. but anyone with sanity that follows statistics has seen proper bitcoin related patterns. mainly the average lows correlate to the cost of mining..
stop advertising your scammy book, you scammy ibitdeals ibitunes, ibitloans.. your too obvious

Franky you are good at spotting scammery...

Seriously sollog, if you want to add some value why
dont you reveal to us the reasons why you think
Bitcoin can hit $5M    and no im not gonna buy your book.

[beetcoin]

somebody large is dumping. maybe the guy that bought the FBI coins?

a lot of people are keeping their eye on his wallet address, so if the funds moved, you'd hear about it on the forums. he also paid close to spot price, so i don't know why he'd dump at this point.

[jonald_fyookball]

$1200 was never a real price to begin with...
it was Gox shennanigans.

They wanted the price artificially high and
used bots to achieve it also.  They wanted
people cashing out coins for large amounts
of fiat that they would never get back.

(just a theory).

[franky1]

$1200 was never a real price to begin with...
it was Gox shennanigans.

They wanted the price artificially high and
used bots to achieve it also.  They wanted
people cashing out coins for large amounts
of fiat that they would never get back.

(just a theory).

nah it was the china markets manipulation and the westerners like sheeple following the china price as it rose. now people dont even care what the china price is now that its clear that they are a separate market (no way to arbitrage easily) so the 2 prices are no longer followed like sheep

[harles9]

I think the simple answer is whales and market manipulation courtesy of Mark Karpeles & Co.

[keithers]

I firmly believe that the price hasn't caught up to the level of adoption that we are at now.  I think price increases and decreases are going to occur at a slower pace now...

This is less exciting for those who live for the volatility, but it could become more inviting for the everyday investor as things progress with more stability.

[beetcoin]

I firmly believe that the price hasn't caught up to the level of adoption that we are at now.  I think price increases and decreases are going to occur at a slower pace now...

This is less exciting for those who live for the volatility, but it could become more inviting for the everyday investor as things progress with more stability.

maybe you're right that the price doesn't represent bitcoin's value based on infrastructure.. but i think the ETF is going to change the game. it's going to push bitcoin more towards the commodity/speculative currency direction. bitcoin IS a blend of speculation and utility after all.

[lyth0s]

bitcoin made a big splash, then bad news came about and whales pulled out. they have not been stoked or excited since, so the price has been lagging.

there has been good news, but that is merchant adoption.. which is more geared towards bitcoin's long-term success. people tend to shoot for the short-term gains than they do the long game.

What is disturbing is the amount of press regarding VC  money being poured in hasn't moved the needle at all. When should we sell? When BTC is at $600 in December?  I mean the needle is not moving with all the good news lately which is disturbing!

There is no way I'd be selling Bitcoin at $600/coin. It's long term value is so much more than that and every regret I've had with bitcoin has been selling it. The reason the price hasn't gone up IMO is even with the small amount of new VC funding the amount of merchant adoption of bitcoin seems to be increasing faster than large investors are coming into the game. When these companies use bitpay or coinbase the coins are immediately turned around and sold, creating a selling pressure and driving the prices lower.

In order for bitcoin price to go up, we need more people to start buying into bitcoin or spending less at these merchants that simply turn around and re-sell the coins. One of the biggest ways this could happen is if small communities in countries where their currency is either in inflation or risk of bankruptcy etc (IE Argentina) starts using bitcoins OR if these merchants decide to hold at least part of the coins they receive, thereby decreasing the circulating supply of coins and easing up on the selling pressure.