The bitcoin price crashes - here's why

[knight22]

Sanity will prevail, when speculators exit the trading and Whale hoarders bought up all the cheap coins.  

This is hilarious.  Want to know why bitcoin really crashed?  It's because it's being adopted like crazy, by businesses, but they're only using it as an ATM, not as a currency - in other words, a cheaper way to get money than credit cards.

The other reason?  Speculators.  That's right, speculators.  Speculators have left the building, and that's why the price plummeted.  If there were still a bunch of speculators out there expecting the price of bitcoin to go up, you can bet it would be going up, not down.  It's basic supply and demand.

Speculators are on altcoins now. Bitcoin looks like a pile of horseshit to me.

Good riddance.

[ronald98]

Sanity will prevail, when speculators exit the trading and Whale hoarders bought up all the cheap coins.  

This is hilarious.  Want to know why bitcoin really crashed?  It's because it's being adopted like crazy, by businesses, but they're only using it as an ATM, not as a currency - in other words, a cheaper way to get money than credit cards.

The other reason?  Speculators.  That's right, speculators.  Speculators have left the building, and that's why the price plummeted.  If there were still a bunch of speculators out there expecting the price of bitcoin to go up, you can bet it would be going up, not down.  It's basic supply and demand.

Speculators are on altcoins now. Bitcoin looks like a pile of horseshit to me.

Good riddance.

Speculators expecting the price of altcoins to go up are likely to get burned at present.

[knight22]

Sanity will prevail, when speculators exit the trading and Whale hoarders bought up all the cheap coins.  

This is hilarious.  Want to know why bitcoin really crashed?  It's because it's being adopted like crazy, by businesses, but they're only using it as an ATM, not as a currency - in other words, a cheaper way to get money than credit cards.

The other reason?  Speculators.  That's right, speculators.  Speculators have left the building, and that's why the price plummeted.  If there were still a bunch of speculators out there expecting the price of bitcoin to go up, you can bet it would be going up, not down.  It's basic supply and demand.

Speculators are on altcoins now. Bitcoin looks like a pile of horseshit to me.

Good riddance.

Speculators expecting the price of altcoins to go up are likely to get burned at present.

Thing is, speculators were required to bootstrap the bitcoin ecosystem. They are not really needed anymore as bitcoin became much more useful than it was so less speculators = more stability. Altcoins will always remain a craze for speculators, nothing more and no market will likely emerge out of these.

[bitkilo]

The Bitcoin price crash is just following the laws of supply and demand.
There is more supply than demand atm with miners having to sell their coins to pay for electricty.
There is probably also a few people who bought in near the top and have just decided to take the haircut and get out thinking they will loose the lot.

This will sort itself out when the reward halving happens and there is less coins hitting the market on a daily basis, the demand will still be there and with less coins on he market each coin will be worth more.

I am in no way an expert regarding bitcoins price and demand but i will be holding onto the majority of my coins. I don't think we will see $1000+ BTC prices againg for a few years but most compainies are still getting started in the matkets that will really help with the mainstream addoption of BTC.