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Author Topic: This is why the price of bitcoin is dropping  (Read 4627 times)
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October 05, 2014, 03:37:49 PM

Only HAlf agree .

The top 100 addresses shows , the wealth are stilling buying bitcoins , so it's not likely Winklevoss twins are dumping , unless they have many small addresses.

What i agree it's the price is now highly manipulated by exchanges . From bitcoinica to mtgox , the exchanges wont stop disturbing bitcoin market .
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October 05, 2014, 03:54:21 PM

In 5 minutes dropped for 20 USD. Coindesk shows 288.
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October 05, 2014, 04:17:08 PM

I personally think that it's mostly because of the recent merchant adoption, and rather than holding the coins they receive they're selling them at a lower price, creating this downward trend in price, which also leads to people selling their Bitcoins, leading to a further downward spiral.
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October 05, 2014, 04:40:19 PM

I got an email saying this thread was moved to speculation.  Why? 

We're not speculating on the future.  We're discussing two bitcoin commodity ETFs and their possible affect on the price of bitcoin. 
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October 05, 2014, 05:20:00 PM

Price of Bitcoin is going ebb n flow..

It is not smart of wvinklevoss to sell their coins if their goal is to own 1%. given that, just because the price is falling, it is not like supply at the exchanges is huge. As long as you can match buyers and sellers at whatever moment those 2 parties are attempting to trade, then boom you have a trade. Perhaps at lower prices, random small fish instead of big whales, will stock up and when the wvinklevoss and other big whales step up, the supply is virtually nonexistent, either causing a massive flash rally, or the guys do their best to slowly run the price up in hopes that a rising price will bring bitcoin holders back into the market to sell. And then the big whales could in theory stock up, but right now, in the entire world, the dollar is looking better than it was a few years ago... If only marginally so.

Time is the test. I sold all remaining coins earlier this week at around 385.  Glad i did so, now if i want to I can almost double up the amount of bitcoin I own.

However I am such a small player, holding 5-10 coins does me little. At these prices, if I want to jump back in, it would be very easy for me to do so in a minutes notice.

Start a business you fools. The value MIGHT be owning a business that creates cash flow, and then running it smart.
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