Bitcoin crashes through $300 floor

[JimminyCricket]

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

[Superhitech]

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

I don't think they want to spread FUD, it would just cause more people to panic sell, making the price lower.

[serpicodk]

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

I don't think they want to spread FUD, it would just cause more people to panic sell, making the price lower.

But people have the right to know, don't they?

[SimplisticStu]

I am of the opinion that several companies dump their BTC for fiat currency at the end of each year, I am also of the opinion that by the end of Jan 2015 the BTC price will break back through into the $300 arena.

I could be wrong and of course I am open to other opinions as well as my own.

[Superhitech]

www.Coindesk.com is so crap - it hasn't even acknowledged/headlined the crash!

I don't think they want to spread FUD, it would just cause more people to panic sell, making the price lower.

But people have the right to know, don't they?

I guess so, but people could just go to preev.com or any other website that has a bitcoin price widget on it.

I am of the opinion that several companies dump their BTC for fiat currency at the end of each year, I am also of the opinion that by the end of Jan 2015 the BTC price will break back through into the $300 arena.

I could be wrong and of course I am open to other opinions as well as my own.

That's a good observation, that could be quite possible.

[Nagle]

$300 was he floor for several months. Now that it has breached the $300 level I would say that it will probably end up falling to at least the $250 level if not lower over the short term

Well, the low for today, so far, was $255.  There's been enough of a drop today to expect some rebound, but the long term trend remains downward. It's been steadily downward for a year now. 

There was a claim that Bitcoin had never fallen below the all-time-high of the previous bubble. The Silk Road bubble peaked at $266. That bottom was broken today.

[SimplisticStu]

$300 was he floor for several months. Now that it has breached the $300 level I would say that it will probably end up falling to at least the $250 level if not lower over the short term

Well, the low for today, so far, was $255.  There's been enough of a drop today to expect some rebound, but the long term trend remains downward. It's been steadily downward for a year now. 

There was a claim that Bitcoin had never fallen below the all-time-high of the previous bubble. The Silk Road bubble peaked at $266. That bottom was broken today.

I still have faith in the BTC and believe it to be an end of year dump for companies. I shall be holding onto my coin rather than panic selling which I think has contributed to the price dropping a little further than it naturally would with the above factors alone.

[applesRyummy]

Well, the low for today, so far, was $255.  There's been enough of a drop today to expect some rebound, but the long term trend remains downward. It's been steadily downward for a year now. 

There was a claim that Bitcoin had never fallen below the all-time-high of the previous bubble. The Silk Road bubble peaked at $266. That bottom was broken today.

The economics of bitcoin has changed a lot since the last bubble. There is a lot of VC invested in bitcoin and bitcoin related companies. The times of the previous bubbles the vast majority of the money invested in bitcoin were "retail" investors who only would invest a few thousand dollars worth

[smith coins]

I do strongly believe in BTC. I know that everything will find its place in time.

[toddtervy]

Could you imagine what could have happened if major e commerce website were to start accepting bitcoin? It would dump through the floor. The price wouldn't even be at 200 let alone 100. They would instantly dump their coins in trade for fiat because they know how unstable the bitcoin price is.

People would have to buy coins to use them at the site, thus cancelling out that effect.

[SimplisticStu]

Could you imagine what could have happened if major e commerce website were to start accepting bitcoin? It would dump through the floor. The price wouldn't even be at 200 let alone 100. They would instantly dump their coins in trade for fiat because they know how unstable the bitcoin price is.

People would have to buy coins to use them at the site, thus cancelling out that effect.

Strongly agree, people need to have faith in the strength of BTC, it's volatile yes but not fragile.

[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.

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

If you contacted a seller though, wouldn't they sell it to you at the listed price?

[ChuckBuck]

In a couple days Bitcoin could possibly crash through the $200 floor and beyond, pending the BitStamp news.

Crossing my fingers that this isn't the case, but hardly a vote of confidence with the 2nd major exchange in 2 years getting compromised yet again.

[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.

If you contacted a seller though, wouldn't they sell it to you at the listed price?

Why would they? They sell it higher than the "listed"(I guess you mean the price on exchanges) price.

[SimplisticStu]

Looking good to break back through $300 already (BTC $292.5) at time of post

[NotLambchop]

Looking good to break back through $300 already (BTC $292.5) at time of post

What exchange?

[ChuckBuck]

Looking good to break back through $300 already (BTC $292.5) at time of post

What exchange?

Yea, don't see that price either, just the $291.94 Bitfinex price from last night and $290.73 Bitfinex price from this morning.

[SimplisticStu]

Looking good to break back through $300 already (BTC $292.5) at time of post

What exchange?

CEX.IO it peaked at $295 yesterday for a brief click

[ChuckBuck]

Looking good to break back through $300 already (BTC $292.5) at time of post

What exchange?

CEX.IO it peaked at $295 yesterday for a brief click

Gotcha, I see it now:



Normally just look at Bitcoinwisdom.

Good catch!

[SimplisticStu]

Looking good to break back through $300 already (BTC $292.5) at time of post

What exchange?

CEX.IO it peaked at $295 yesterday for a brief click

Gotcha, I see it now:



Normally just look at Bitcoinwisdom.

Good catch!

Peaked just recently at $295 aswell by the looks of it, I've not been watching it the last few hours