[2014-07-30] Bitcoin Breaks $585, Hits New Monthly Low

[cescan]

http://www.forexnews.com/blog/2014/07/28/bitcoin-breaks-585-hits-new-monthly-high/

The scenario we discussed in our previous daily roundup occurred today as Bitcoin prices broke the small support area at $585. The break happened in the Asian trading session and in less then 3 hours BTC/USD fell almost 20 points to hit a new monthly low of $566. We are currently trading just barely above this low at $568 per coin on BTC-E. The next support for the crypto stands at the important $550 figure. This was the area where two previous declines were halted last month. The first try on June 14th took prices to a low of $546 but as the day was drawing to a close, bitcoin rallied to close at $562. Take number two on June 26th only managed to get to $555 before prices propelled higher and rallied almost 100 dollars in the next five days. Below $550, the round psychological $500 figure will support prices. - See more at: http://www.forexnews.com/blog/2014/07/28/bitcoin-breaks-585-hits-new-monthly-high/#sthash.L8AgZ4Xk.dpuf

[Kprawn]

There are 2 ways to report on this. "Positive and negative"

Positive " Bitcoin Price GREAT news for buyers, get it now at a fraction of it's real value " See this as a opportunity to stock up on your investment, and buy it cheap.

In every dark corner, there might be a penny. 

[Jamie_Boulder]

Wish these silly price changes would stop making the 'news' - unless it's fact nobody is interested in being manipulated by the author.

[Bit_Happy]

http://www.forexnews.com/blog/2014/07/28/bitcoin-breaks-585-hits-new-monthly-high
...

For some reason, the words in the link say "new monthly high", and soon enough we will be experiencing plenty of those.  

[LiteCoinGuy]

oh no, what are we going to do now  ?

[bitsmichel]

Bitcoin Breaks $585, Hits New Monthly Low

with bitcoin market price at $585 I don't think any hodler is worried. Even for non-bitcoin readers this is a high exchange rate, imagine trading 500$ for 1 Yen  

There are 2 ways to report on this. "Positive and negative"

Positive " Bitcoin Price GREAT news for buyers, get it now at a fraction of it's real value " See this as a opportunity to stock up on your investment, and buy it cheap.

In every dark corner, there might be a penny.  Grin

Spot on. It could be a good time to invest, but nobody knows the future market prices.