Why Bitcoin price are dropping?

[lynn_402]

that is because people are selling and buying every minute. also miners mine new bitcoin and mostly sell it on the market. so the selling will reduce the price

miners sell... and no demand currently because of other for example christmas expenses
in 2015  price will go up

Well, November and December of last year were great months for Bitcoin and the price went up to a new order of magnitude, so I think it's wrong to blame the current low price simply because of "christmas expenses".

[xdrpx]

There could be several reasons why the price dropped since yesterday, could be because of the festive season approaching and people are selling their bitcoins to do their festive shopping. When few notice the price drop a lot, this creates a whiplash effect causing more people to panic sell. The price of Bitcoin has reached below the support. There will be a point at which the price becomes quite low and people will tend to mass buy and the price might stabilize and again get better.

So far the price has risen from today mornings price of $304 to $315

[kotwica666]

that is because people are selling and buying every minute. also miners mine new bitcoin and mostly sell it on the market. so the selling will reduce the price

miners sell... and no demand currently because of other for example christmas expenses
in 2015  price will go up

Well, November and December of last year were great months for Bitcoin and the price went up to a new order of magnitude, so I think it's wrong to blame the current low price simply because of "christmas expenses".

Of course, it is not the fault of Christmas. Certainly there are many reasons. I think it may also have the effect of oil price. Traders may now prefer to buy oil, because they hope that next year the price will jump .. Why not?

[cakir]

I bet on "Russians".

There's a virus called "Cryptolocker" which is Russian made.

They're selling "unlocker software via bitcoin". I guess there're lots of people who caught this virus...

[kotwica666]

I bet on "Russians".

There's a virus called "Cryptolocker" which is Russian made.

They're selling "unlocker software via bitcoin". I guess there're lots of people who caught this virus...

Did you check your pc? 
If people will buy more BTC price will be rising .. no dropping..

[cakir]

I bet on "Russians".

There's a virus called "Cryptolocker" which is Russian made.

They're selling "unlocker software via bitcoin". I guess there're lots of people who caught this virus...

Did you check your pc? 
If people will buy more BTC price will be rising .. no dropping..

Nope, your logic is just so simple. You're thinking one way.

These hackers collect BTC in time so Price isn't affected too much. Day traders got their purchase profit.

Then hackers dumped those BTCs.

Do you need further explanation?

[kotwica666]

I bet on "Russians".

There's a virus called "Cryptolocker" which is Russian made.

They're selling "unlocker software via bitcoin". I guess there're lots of people who caught this virus...

Did you check your pc? 
If people will buy more BTC price will be rising .. no dropping..

Nope, your logic is just so simple. You're thinking one way.

These hackers collect BTC in time so Price isn't affected too much. Day traders got their purchase profit.

Then hackers dumped those BTCs.

Do you need further explanation?

No of course now i get it
But seriously - do you think that they are earning so much?

[elliwilli]

Because supply outstrips demand.
simple economics!

[ChineseSavior]

personally I like when the price drops. Not sure why anyone would think it would just shoot up forever? That wouldnt make any sense. Not sure why people invest in it like a stock either but uh i will just pretend like i never think that

[arieq]

personally I like when the price drops. Not sure why anyone would think it would just shoot up forever? That wouldnt make any sense. Not sure why people invest in it like a stock either but uh i will just pretend like i never think that

80% people buy bitcoin to make money, 10% buy it for reasons they can't explain even to themselves, the rest 10% are learning, shopping, preaching, etc. which one are you ?

[KingZee]

personally I like when the price drops. Not sure why anyone would think it would just shoot up forever? That wouldnt make any sense. Not sure why people invest in it like a stock either but uh i will just pretend like i never think that

I like when the price drops as well because it makes it easier to buy in. Even though at the moment I wouldn't care anymore about its price as well since I'm trading it in altcoins, so the value of btc/usd is irrelevant. But if (WHEN) it goes up 500USD+, I'll turn it into cash again.

[cakir]

I bet on "Russians".

There's a virus called "Cryptolocker" which is Russian made.

They're selling "unlocker software via bitcoin". I guess there're lots of people who caught this virus...

Did you check your pc? 
If people will buy more BTC price will be rising .. no dropping..

Nope, your logic is just so simple. You're thinking one way.

These hackers collect BTC in time so Price isn't affected too much. Day traders got their purchase profit.

Then hackers dumped those BTCs.

Do you need further explanation?

No of course now i get it
But seriously - do you think that they are earning so much?

Imagine that; "virus + spam" can reach millions of people.  (let's say 2 million people got it)
Only 0.1% of it believed this spam and run it and got virus. So there's 2000 infected pc's.
If they're connected a local network; virus will spread.
Let's say; total 5000 pc's got virus.
If these people are dumb enogh to got it; They can't clean it.
So at least 50% of them have to buy the unlocker...
2500 people just pays 1 btc to buy it.
That's nearly 1 million USD. It's quite enough to crash the market.

Just a reminder; these russian guys are smart enough so they're working regional. For instance; There're ~35 million ADSL user. And most of them are using TTNet. Those guys used a phishing page to infect pc's.
TTNet published a post about it to warn customers. (In Turkish); http://www.ttnet.com.tr/bireysel/Hakkinda/duyurular/Sayfalar/TTNET-E-Fatura-E-Mail-Bilgilendirmesi.aspx
Turkey's biggest btc market published a post about this virus recently (In Turkish); http://blog.btcturk.com/?p=2051


http://www.ibtimes.co.uk/cryptolocker-criminals-earn-30-million-100-days-1429607

[kotwica666]

Looks dangerously ..
But how we can be sure that all of the 5000 infected pc's have BTC wallet? I don't think there is so many BTC users.. 
This story is nice speculation.
Thanks for warning.

[Amph]

you just need  abackup for that virus, dunno why people can't make a simpe backup...

[lynn_402]

personally I like when the price drops. Not sure why anyone would think it would just shoot up forever? That wouldnt make any sense. Not sure why people invest in it like a stock either but uh i will just pretend like i never think that

I like when the price drops as well because it makes it easier to buy in. Even though at the moment I wouldn't care anymore about its price as well since I'm trading it in altcoins, so the value of btc/usd is irrelevant. But if (WHEN) it goes up 500USD+, I'll turn it into cash again.

Even when trading altcoins, I find that the btc/usd market is still relevant, since most altcoins stay relatively fixed to Bitcoin's price.
i.e. if Bitcoin jumps to 400$ tomorrow, Doge will probably remain near 60 sat, so it will be a net gain.

[irfan_pak10]

BTC because no one selling his btc at that low rate. Every one wanted to sell there btc at high rate that's why they preserving it. And due to low trade of btc its price it getting down

[cakir]

Looks dangerously ..
But how we can be sure that all of the 5000 infected pc's have BTC wallet? I don't think there is so many BTC users.. 
This story is nice speculation.
Thanks for warning.

I guess you've missed the case. This virus doesn't steal any BTC directly from wallet.

It's using the virus to sell unlocker via BTC.
Check this link; http://www.ibtimes.co.uk/cryptolocker-criminals-earn-30-million-100-days-1429607
This was 1 year ago.

This virus got popular last a few months. And they made big score again...

[EternalWingsofGod]

because people sell.

Yep I guess because its still not easy for people to use it
Well beyond a certain technology level, and it can't target the rich seniors with a lot of money

[rz20]

because people sell.

Yep I guess because its still not easy for people to use it
Well beyond a certain technology level, and it can't target the rich seniors with a lot of money

People or my friends, don't know why the shoul use bitcoin when they can make exactly the same with the money they have. There isn't even a real marketplace for bitcoin.

[Bananana]

Majority make huge loses so if they sell it they can claim some tax. Expect the price to rise on January.