[2014-08-19] Bitcoin’s Price Falls 12%, to Lowest Value Since May

[ganabb]

http://dealbook.nytimes.com/2014/08/18/bitcoins-price-sinks-but-causes-little-alarm-among-traders/?_php=true&_type=blogs&_r=0

Bitcoin’s price has been known to surge, but lately it has been in a bit of a slump.

On Monday, the price of Bitcoin dropped nearly 12 percent, to $435.60 from $492.95, according to the virtual currency website CoinDesk, its lowest value since May and far below its peak of about $1,150 last year.

[CoinMode]

I heard some rumors that it was caused by margin trading at BitFinex. The flash crash there caused a shockwave that led to a flash crash at BTCe also. Things seems stable now. Don't think it was a whale cashing out or anybody retiring. If they did retire, now would be the absolute worst time to do it.

[gmx95]

I don't think the sell off at bitfinex led to this. But the chances of quick recovery and upward movement towards $1000 look remote now.

[Kprawn]

It's going to take a while for BTC to bounce back, but it's going to happen, sooner than you think.

Transaction volume are at it's highest, also since May, and nobody is saying anything about that. {Check the blockchain stats}

Mark my words " BTC will bounce back with a BANG " - Hope you stocked up, when the price was low.

[fryarminer]

Hahaha!!! Love the title of this post. May was what... Three months ago?

[CryptInvest]

The information in the article is only important for the bears and short-term speculators. Perhaps fans of technical analysis could become richer.