Why do you people sell at these price?

[Minerjoe]

I would like get an insight into why people sell their BTC at these prices? In order for the price to go down, there needs to be somebody willing to sell. Since dumping at these prices is a REALLY, REALLY stupid thing to do, I would like to know who is so smart to sell at these prices and why? Are you people allergic to money or what?

[MacDuro]

I would like get an insight into why people sell their BTC at these prices? In order for the price to go down, there needs to be somebody willing to sell. Since dumping at these prices is a REALLY, REALLY stupid thing to do, I would like to know who is so smart to sell at these prices and why? Are you people allergic to money or what?

Because They need money and probably for most of them is still profitable to sell right now , specially if at their countries they have a FIAT currency with a low price vs US dollar .

[ArticMine]

Or they bought at 1000 USD on margin expecting it to go to 10000 USD and now sell to time the bottom as best as possible. Otherwise known as "weak hands" who buy high and sell low.

[Minerjoe]

I would like get an insight into why people sell their BTC at these prices? In order for the price to go down, there needs to be somebody willing to sell. Since dumping at these prices is a REALLY, REALLY stupid thing to do, I would like to know who is so smart to sell at these prices and why? Are you people allergic to money or what?

Because They need money and probably for most of them is still profitable to sell right now , specially if at their countries they have a FIAT currency with a low price vs US dollar .

In order to profit from this sale, these people needed to buy BTC over a year ago when the price was below what it is now. So, these people ve been saving their BTC for over a year and sell now??? It does not add up. The other option is that they sell at a loss which brings them into the stupid weak handed group I ve mentioned.

[Meuh6879]

Because all people don't trust.
And it's good ... for the others that they want buy a few BTC.

Buy and order.

[Minerjoe]

Because all people don't trust.
And it's good ... for the others that they want buy a few BTC.

Buy and order.

It is NOT good at all. We need people to support BTC economy. We cant build anything having so many people who got burned with their BTC investments. There are not going to come back to BTC again so easily. Just there has not been enough efforts to stop this decline.

[MacDuro]

I would like get an insight into why people sell their BTC at these prices? In order for the price to go down, there needs to be somebody willing to sell. Since dumping at these prices is a REALLY, REALLY stupid thing to do, I would like to know who is so smart to sell at these prices and why? Are you people allergic to money or what?

Because They need money and probably for most of them is still profitable to sell right now , specially if at their countries they have a FIAT currency with a low price vs US dollar .

In order to profit from this sale, these people needed to buy BTC over a year ago when the price was below what it is now. So, these people ve been saving their BTC for over a year and sell now??? It does not add up. The other option is that they sell at a loss which brings them into the stupid weak handed group I ve mentioned.

I'm thinking about miners in East Europe , Africa , some parts of SouthAmerica , Asia ... not about people that bought BTC one year ago , for that people produce a BTC is cheaper than for people in USA or Eurozone  where electricity costs and even hardware is more expensive

[LFC_Bitcoin]

I've got just over 10 BTC.

I'll be honest, I bought most of my coins at around 600 USD, I'm not happy right now, every day the price seems to go down lately.

I don't have any desperate need for the money now, I know it's a long game & I will hoard for years but it's looking pretty shit right now.

[Meuh6879]

I know it's a long game & I will hoard for years

like me ... but, if you need this money every month, it's not the good invest value.
  deal drug, more profits ... in a month.

[Oscilson]

Some miners have to sell to pay their (electricity) bills.

[ticoti]

because they need the money or simply because they think it is going to go lower

[TaunSew]

November woke up a lot of hibernating whales.  People mined in 2009 / 2010, forgot and then when it was in the news late 2013 they came back into Bitcoin with 10,000+ BTC (some even as much as 100,000).  Even with prices as low as they are - at $400 at 10,000 BTC is still worth $4 million.


Currently these people are dumping for $Fiat or just buying things off merchants accepting BTC, who then promptly dump the BTC.  For BTC to go up they have to go through all these sellers and this could take up to two years.

[seriouscoin]

i suspect the dumpers are large miners. The irony is that they're killing themselves. Every small dump they made will push weakhands to panic selling mode thus push the price futher down. So miners are taking a bigger hit until they close shop.

Bitcoin needs future and option contracts badly to keep mining alive. I'm hoping someone working on this.

[LFC_Bitcoin]

Dropped 25 USD today & continuing to drop as I've been online the last few hours

[haploid23]

Mob mentality. It takes one whale to dump, then the rest sell based on emotions, or it triggers bots to sell off to cut losses. It's a snowball effect.

[Bitcoin Magazine]

people don't buy or sell.  they spend it on weed. ya idiot

[EmperorZurg]

The smallest price actions can trigger massive panic sells or buys. It's quite entertaining to watch. I am picking up the most that I can at these prices TBH since I always think long-term.

[thriftshopping]

i suspect the dumpers are large miners. The irony is that they're killing themselves. Every small dump they made will push weakhands to panic selling mode thus push the price futher down. So miners are taking a bigger hit until they close shop.

Bitcoin needs future and option contracts badly to keep mining alive. I'm hoping someone working on this.

If this is the case then you should expect it to continue. As the miners have to pay their electric bills (they took a big risk up front - to buy their machines - in exchange for taking smaller risks in the future - to be able to essentially arbitrage bitcoin by buying it via the electric company and selling it at the spot price when bitcoin is found).

I think it is also partly due to the fact that QE is seen to be winding down soon so we will likely see less liquidity and less risk taking throughout all assets

[Oscilson]

The main reason for the price drop is not the miner dump, but not enough capital flow into Bitcoin to absorb the 3600 BTC created daily. The miners have to pay their bill in fiat, so they have to sell.

[piramida]

The main reason for the price drop is not the miner dump, but not enough capital flow into Bitcoin to absorb the 3600 BTC created daily. The miners have to pay their bill in fiat, so they have to sell.

No, that is silly. There are at least 100k bitcoins changing hands daily. Even if all miners sold at these prices (which they don't) it will be just a drop in the overall volume. The amount of people who sell at the yearly lows and take fiat to never buy bitcoin again is tiny. Most sellers now wait to rebuy lower; at the first signs of confirmed reversal they will all jump in.