Did we finally reach the bottom?

[Sakarias-Corporation]

No. the bottom is the bottom Which would in this case be 0. Now i don't think we will ever get to 0.
 

[Possum577]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

This is the smart talk.

[arbitrage001]

Do you guys think that we finally reached the bottom the other day at ~ 255 USD ? I'm also wondering what caused the recent "crash" from 315 to 255. I've read articles with different thoughts but wondered what you guys thought. I also read somewhere that market analysts predict a big rise sometime around February.

Thanks for your insight .

Very close to bottom. If price continue to go down, the whole system will implode and say goodbye to bitcoin.

[ed_teech]

Bitcoin needs a big corporate player to change the game.

[neurotypical]

No. the bottom is the bottom Which would in this case be 0. Now i don't think we will ever get to 0.
 

The prize is hidden at the bottom. :p

[biodieselchris]

me thinks BTC may go to $90, LTC under $1. It would certainly need to be this low before I bought any more.

[LorettaAndrews]

I think it wasn't bottom
the bottom is around $1-$100 dollars

[WillyBTC]

I think it wasn't bottom
the bottom is around $1-$100 dollars

Pretty big range. Almost too big to disagree with. I don't like to think that long term. I am eyeing the $200 zone (Bitfinex) for a mid term bottom, personally.

[dinofelis]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

I fully agree with that.  Bitcoin's fundamental is merchant adoption.
The demand for bitcoin as a means of payment is the real fundamental of the price.  In other words, the market share it can take in the fiat market as a currency.  For the moment, that is still very very low, but it is growing.

The funny thing is that it gets frowned upon by "bitcoin bulls" because it "lowers the price with all that dumping", while it brings bitcoin exactly towards (one of) its fundamentals.

Of course, on top of that, there are two other contributions:

1) long-term store of value (which is not credible right now with such a short-lived and volatile asset) such as gold.

2) speculation on the future fundamentals (which Warren calls "bubble territory").  It is the dominant price determinant for the moment, and is totally unpredictable because it depends on the whims and beliefs of people.

[conteaza]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

Now tell me please who would mine nowadays for nothing,I mean if price is not so important for you how miners could cover his losses and reach ROI huh?

[Amph]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupid bottom, not gonna happen, below 200 is a tough one already

[spazzdla]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

[Snorek]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

[conteaza]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

This is not gonna happen,you can sleep in peace.

[skinnyboy]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

Now tell me please who would mine nowadays for nothing,I mean if price is not so important for you how miners could cover his losses and reach ROI huh?

And herein lies a big chunk of the problem facing bitcoin.  So many people in it for profit, not for what it was invented for.  I will continue to mine even at a financial cost because I want the network to succeed, I want the potential for bitcoin to be realised.

If I want to earn bitcoin then I'll go out and provide something of value to someone in return for it.

You see, Sapcecakes is right.  If you are only looking to sell it out at a profit and carry on with fiat you are part of the problem, not the solution.  To me it doesn't matter if bitcoin drops to less than a dollar, it's still a fundamentally useful technology and that is what I'm hoping to see people build on.  In fact, I'm not just predicting the price will continue to fall, I'm actively hoping it will, because then the short sighted people will be removed from the industry and the people who actually see its true value will be left to develop its future without being surrounded by folk who have nothing but dollar signs in their eyes.

Here's to hoping for a <$1 bitcoin :-D

[Amph]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

what? the contrary will happen actually, a panic buy will start, and for this reason we will never go even below 200

[bitcoindance]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

what? the contrary will happen actually, a panic buy will start, and for this reason we will never go even below 200

Exactly. Also I don't think that people will sell at a very big loss, most will simply wait for the price to go up.

[LitcoinCollector]

The price will go up, Bitcoin is the future!

[BTCreward]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

Every time any kind of physiological barrier is breached people will start to panic. The same was true when the price breached $500, the same was true when the price breached $300.

Assuming the price goes below $250 the same will be true, the same with probably $200

[chaoman]

this is your last chance for cheap coins and you bears are squandering it.