Bitcoin crashes through $300 floor

[xcapator]

oh come on, just relax, bitcoin is like a capacitor that holds potential profit, which charges as prices drop. you just need to predict when it will be discharged

[Thekool1s]

This is what happens when big companies accept bitcoin they dump them instantly and price goes down then i dont blame them because they cant purchase there raw resources via btc. If Bitcoin wants to succeed as we wish then we need raw producers to accept the bitcoins basically everything could be bought via btc is the best scenario for bitcoin.

[koshgel]

This is what happens when big companies accept bitcoin they dump them instantly and price goes down then i dont blame them because they cant purchase there raw resources via btc. If Bitcoin wants to succeed as we wish then we need raw producers to accept the bitcoins basically everything could be bought via btc is the best scenario for bitcoin.

The reason they are selling is because of it's volatility. Why would any companies hold BTC if they stand to lose profits by holding the coin? $ is a much safer option for them.

[Daniel91]

This is really not good development for Bitcoin.
If merchants see how unstable value of bitcoin is, I don't think they will accept btc as way of payment.
Who will want to accept bitcoin as payment and loose money because value of bitcoin went down?
I'm afraid that it will be very hard to inspire ''big merchants'' to accept bitcoin in the future, if btc remain unstable.

[Shattered]

This is really not good development for Bitcoin.
If merchants see how unstable value of bitcoin is, I don't think they will accept btc as way of payment.
Who will want to accept bitcoin as payment and loose money because value of bitcoin went down?
I'm afraid that it will be very hard to inspire ''big merchants'' to accept bitcoin in the future, if btc remain unstable.

I understand and agree with the core of your point, but this also goes both ways...

If i buy a flat screen TV from Overstock and pay with BTC today, then the price shoots up passed $300 again next week, Overstock just made a nice little unexpected increase of margin.

It seems people always talk about the negative effects of BTC price drops on large retailers and never focus on the flip side.
I think if anything, huge price swings hurt small retailers more.Overstock can handle payment fluctuation much easier than Al's auto garage.

We need the smaller guys (the mom n pop stores) to accept bitcoin, for it to truly organically grow into massive public adoption.

[Lauda]

Well this doesn't surprise me. It's the traders and market manipulation mostly.
Who would sell their Bitcoin so low?

A merchant which believes in Bitcoin won't be bothered by these price changes, they will probably keep their coins.

[wadili89]

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

What do you mean? There's no selling pressure?

I think he is saying that it didnt crash on big volume, but instead a slow bleeding out. Its the weekend after holidays so may not reflect the real sentiment.

[cbeast]

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

What do you mean? There's no selling pressure?

I think he is saying that it didnt crash on big volume, but instead a slow bleeding out. Its the weekend after holidays so may not reflect the real sentiment.

This. Also I don't know if anyone has heard about a place called Las Vegas, Nevada, but it's kind of a big deal. Anyway, there is a little show there called CES the Consumer Electronics Show. That's also kind of a big deal, or used to be. There's gonna be a bunch of Bitcoin stuff there this week.

[LeChatNoir]

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

I agree, we are all just draeming the same bad dream.
Let's go back to stick our head in the sand please.

[AnonBitCoiner]

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

I agree, we are all just draeming the same bad dream.
Let's go back to stick our head in the sand please.

Look at localbitcoins; people are selling for $282. They have tremendous amounts of BitCoin and are still profitting regardless, most likely, since they probably invested early on in the game.

What would you guys do if it completely skyrocketed into the low $100s? Just curious.

[BitCoinNutJob]

Wow. The ongoing downtrend is relentless. This is what happens when monopoly mining interests lose their monopoly and real price discovery occurs. Oh well, it must stabilize eventually...

Looks like bear whale has finally been proved right, are we going to see a 30k BTC buy order pop up soon i wonder.

[drgonzo87]

BTC is gonna continue dropping until it finds a sustainable price. It's still coming out of the price bubble of 2013, and it may be that the bottom is closer to $100 than where it is now, maybe even less. Thing is, if everyone bails and sells off now the price will plummet, which is good because then BTC can be snatched up later for a considerable discount price. With that in mind, I've divested of my BTC and exchanged it for XRP and GBP. I hope the price drops considerably, and when it reaches the bottom, where its actual non-bubble price lies, it can then start a sustainable, slower rise in value that's in proportion to its growing popularity and acceptance.

[turvarya]

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

I agree, we are all just draeming the same bad dream.
Let's go back to stick our head in the sand please.

Look at localbitcoins; people are selling for $282. They have tremendous amounts of BitCoin and are still profitting regardless, most likely, since they probably invested early on in the game.

What would you guys do if it completely skyrocketed into the low $100s? Just curious.

Price on localbitcoins is mostly just bitstamp-price +/- a certain percentage.

[gjgjg]

Crypto / Exchange Market Capitalization increase for the year is still gigantic

your witnessing very fine manipulation moves here

No, the manipulation was the willybot, this is correction.

no one is selling btc at 280

its just numbers on the exchanges at this point in time

What do you mean? There's no selling pressure?

There's always panic sellers at low prices. Also bots which trade their algos at any price that can push price in illogical ways. Lets see, but I think there's one more push down left before any uptrend can be 'reliably' se, imo.

[pbleak]

I'm sure today we'll go down to 250. More curious about what happens then. I actually, from an objective perspective, don't think it so bad that Bitcoin will be cheap. New blood can enter and we need that.

[ChuckBuck]

Wow. The ongoing downtrend is relentless. This is what happens when monopoly mining interests lose their monopoly and real price discovery occurs. Oh well, it must stabilize eventually...

Bitcoin price has nothing to do with the miners converting to fiat, it's mostly these bear whales manipulating the market.

Oh well, time to reach in my pocket and pull out some pesos to buy some of this oversold coin...

[Balls]

I'm sure today we'll go down to 250. More curious about what happens then. I actually, from an objective perspective, don't think it so bad that Bitcoin will be cheap. New blood can enter and we need that.

While that's true, these sort of crashes can also scare people off. It's a great buying opportunity for those waiting to get in, but for others it's also worrying that the price can drop this low and so quick for no good reason. We've had a year of nothing but good news and adoption yet the price has sadly not reflected this.

[pbleak]

Well if you are looking to profit you could always short the coin for now and then rebuy later down the line.

[Bananana]

Well if you are looking to profit you could always short the coin for now and then rebuy later down the line.

No way, it could rebound anytime, It is really risky to short...

[pbleak]

Well if you are looking to profit you could always short the coin for now and then rebuy later down the line.

No way, it could rebound anytime, It is really risky to short...

Of course, I mean only if you think the trend is truly downward. And, more importantly if you have some to risk. I certainly wouldn't encourage anyone shorting with coin they need.