[2014-09-08] So, What's up with Bitcoin's Price?

[patricktim]

http://www.marketoracle.co.uk/Article47229.html

So, the cooling was not a concern -- but then it continued. Here's the most-commonly-discussed idea:

it's two-fold: technological developments have pushed crypto mining onto a new, higher, plane. It's big business now -- and those businesses are not 'HODL-ing' (holding) the mined coin. They have bills to pay; they are selling it. The second reason is similar: the businesses that have begun accepting Bitcoin (and now altcoins) also have bills to pay. They are selling the cryptos they accept.

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[bitcool]

Both counts seem plausible, so do short selling and altcoin diversification -- nobody knows for sure.

[ImI]

altcoin diversification doenst look probable. marketcap ratio of BTC/ALT has been going down from around 20% to single digits in 2014. so money has been flowing out of altcoins basically.

[Finchy]

I've seen people make arguments for and against people holding vs spending is the cause of the price going up or down. I guess we'll never know for certain and maybe this sort of fluctuation will forever be an issue with bitcoin.