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Author Topic: Is it really THAT bad right now?  (Read 2951 times)
MacAndSwiss
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January 15, 2015, 09:57:19 PM
 #1

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

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kwaasteniet
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January 15, 2015, 10:07:56 PM
 #2

Nobody can tell you why it's dropping and when that stops. But when you have put all your retirement capital in BTC january 2014 then there is reason to panic.  Shocked I mean, for someone there is reason to panic and for an other person is it just an normal movement of the marketprice.
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January 15, 2015, 10:40:50 PM
 #3

Did you just buy lots of btc a few month ago? If you buy yes you will panicked but for collector of btc just think that as part of market

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Flawless Zeus
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January 15, 2015, 11:09:47 PM
 #4

dont worry if you bought bitcoin a while back when the price was 300 dollars or what ever it will rise again.
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January 16, 2015, 01:18:55 AM
 #5

The price will recovery.
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January 16, 2015, 01:34:49 AM
 #6

there are many reasons for the price movements for example today the price surge was cause by the removal of the swiss franc exchange cap.

Read the article below for a better understand how things can affect the price.

http://insidebitcoins.com/news/bitcoin-price-rebounds-and-swiss-franc-surges-as-snb-removes-euro-exchange-rate-cap/28805
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January 16, 2015, 01:48:49 AM
 #7

It has nothing to do with "Bitcoin". There's no algorithm or anything that dictates the price. It's purely dictated by how much people are willing to pay for a Bitcoin. It's nothing more than just another commodity for which people have to agree on a common price.

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January 16, 2015, 02:00:22 AM
 #8

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

Nobody knows why the price is dropping, though there are some guesses.  But Bitcoin isn't failing at all, so to answer your first question - no. 
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January 16, 2015, 02:57:29 AM
 #9

It has nothing to do with "Bitcoin". There's no algorithm or anything that dictates the price. It's purely dictated by how much people are willing to pay for a Bitcoin. It's nothing more than just another commodity for which people have to agree on a common price.

And also by how much people are willing to sell bitcoins for. Without a seller there is no buyer.

Bitmixer sucks

Bit-X sucks
MacAndSwiss
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January 16, 2015, 03:14:53 AM
 #10

I haven't even got a single bitcoin  Tongue

But yeah, that was what I was guessing. Hopefully more people trust and use bitcoin in the future (In God we trust currency everyone?)

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January 16, 2015, 06:51:11 AM
 #11

I haven't even got a single bitcoin  Tongue

But yeah, that was what I was guessing. Hopefully more people trust and use bitcoin in the future (In God we trust currency everyone?)

At these prices, might be time to grab a few and forget about them for a decade.

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January 16, 2015, 06:56:41 AM
 #12

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?
the reason for panic is some people bought large amounts a couple of month back and now that the price is falling they are panicing also mostly start panic selling so it further increases the drop in price

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January 16, 2015, 10:31:49 AM
 #13

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

You only need to buy some btc or buy moree Cheesy
Swing time will happens soon Cheesy
Simon8x
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January 16, 2015, 10:42:41 AM
 #14

Bitcoin price is determined by market forces. The price dropped, simply because there were a lot of sell orders.
If you check https://bitcoinwisdom.com/, you will see a lot of bitcoin was sold on the exchanges at round 7:30 UTC on 14th, causing the price to go down very quickly.

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January 16, 2015, 11:44:31 AM
 #15

Bitcoin will prevail!

It can be depressing watching the btc price drop, you really need to think long term and not dwell on the current downturn. I'm still buying as much bitcoin I can afford regardless of the price.
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January 16, 2015, 11:57:46 AM
 #16

Bitcoin price is determined by market forces. The price dropped, simply because there were a lot of sell orders.
If you check https://bitcoinwisdom.com/, you will see a lot of bitcoin was sold on the exchanges at round 7:30 UTC on 14th, causing the price to go down very quickly.

I dont know why these fools are selling their btc at that too much low price. Why dont they wait for next few montha and sell btc at 400 above. Its the time to buy as much as you can. No one determine its price it spaculation it will go higher in just next few months. Lets hope for the best

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January 16, 2015, 12:05:41 PM
 #17

Bitcoin is rising again now and I don't think it will be reaching $200 any time soon again.

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January 16, 2015, 12:07:37 PM
 #18

Bitcoin price is determined by market forces. The price dropped, simply because there were a lot of sell orders.
If you check https://bitcoinwisdom.com/, you will see a lot of bitcoin was sold on the exchanges at round 7:30 UTC on 14th, causing the price to go down very quickly.

I dont know why these fools are selling their btc at that too much low price. Why dont they wait for next few montha and sell btc at 400 above. Its the time to buy as much as you can. No one determine its price it spaculation it will go higher in just next few months. Lets hope for the best

No idea.
Probably some bitcoiners panic-sold their bitcoin after seeing the price crashed over 20% in a day (bitstamp price went from $250 to $200) and further crashed another 20% within 30 minutes (bitstamp price went from $205 to $152).

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January 16, 2015, 12:08:27 PM
 #19

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

Well maybe no need to panic but it certainly is alarming. Depends on your position really. Short term price matters long term it doesn't really but some people need to make money off bitcoin now.
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January 16, 2015, 01:34:29 PM
 #20

but now the price has slowly rising  Smiley
This hopefully sustainable  Grin
and stable  Cheesy

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