[2014-09-10] After Bitcoin Hits a Yearly Low, Can It Fall Even Further?

[epere]

http://www.investing.com/analysis/how-far-can-bitcoin-fall-225260

Bitcoin hit the lowest price in September so far yesterday, reaching a low of $456.30, and then an immediate recovery to $470.77 took place. However, the move lower has been sustained and the current price is nearer to monthly low posted yesterday. At present, there is a weak downward trend at the hourly timeframe and seems to be testing the $464 support level. A downward move past this support could see the next support at $454.37 tested as well. In the event of an upward swing, the $470.80 and $480.96 levels will provide resistance.

[Bobsurplus]

http://www.investing.com/analysis/how-far-can-bitcoin-fall-225260

Bitcoin hit the lowest price in September so far yesterday, reaching a low of $456.30, and then an immediate recovery to $470.77 took place. However, the move lower has been sustained and the current price is nearer to monthly low posted yesterday. At present, there is a weak downward trend at the hourly timeframe and seems to be testing the $464 support level. A downward move past this support could see the next support at $454.37 tested as well. In the event of an upward swing, the $470.80 and $480.96 levels will provide resistance.

Sure it can, mostly because I still have some fiat from selling my btc at the 1K range. The lower it goes the more I'm able to purchase.

[SOAD]

Of course it can fall even further, but the opposite is also true. I've given up being bothered by unexplained price falls for a quite a few months now. Not really bothered where the price is today but more interested on  the future value.

[LiteCoinGuy]

could go to zero 

[cryptofan5]

It can potentially fall to $300, I think.

[gmx95]

I think the support at $454 maybe tested this week.

[bryant.coleman]

It can potentially fall to $300, I think.

It had already hit sub $300 levels in March, when Mt Gox was hacked and close to 1 million coins stolen from there. For almost a whole month (March 2014), the exchange rate remained in the 300-400 USD range. I don't know whether it can repeat unless a similar incident occurs. There is a remote chance, if the US or the EU bans Bitcoin exchanges.