Sub $100 in spite of good news?

[Lexi Price]

I was reading the forums months ago when people were scoffing at the mere suggestion 'what if' bitcoin drops to 100 or less but now that it's made it to 100s already and even briefly jumping into the 300 before dropping back down to the mid 200s, resisting good news, isn't it realistic at this point to consider it very well can drop to 100 or below? If it's not reasonable please offer reasons why it just can't. Thanks.

[Morecoin Freeman]

Very reasonable, also:

Please note! If Current daily candle will be shooting star - there is a high chance price will revisit $100

[tyrexs]

have some rumor like that, price will dumb under $100

[Dilla]

There would be too much buying pressure in the 100s. It would take a fuck ton of coins to hit dd

[altcoin hitler]

Sellpressure from miners. Advantage for chinese ninja-shortseller. Nothing new. Live with it. Bicoin isn't built for large userbase. It is built for low value, high hashrate. Satoshi was cryptographer, coder same as Gavin - not an economist.

The coin has sucky fundamentals

[Dilla]

^when will people realize sell pressure from miners is a drop in the bucket for the daily volume?

[altcoin hitler]

^
when will people realize real demand from new money is a drop in the bucket compared to tradevolume?

[Dilla]

Still, $17mil > $1mil
Even with turnover those coins will be eaten up by people making profit and buying more to trade with.

[hayabusa911]

Buy BTC now because hearing you complain later about how you "SHOULD HAVE COULD HAVE"....
I just don't want to hear your shit.   No...REALLY!!!  

[YourNewGod]

I expect to see it around $200 after this dump.

[altcoin hitler]

Still, $17mil > $1mil
Even with turnover those coins will be eaten up by people making profit and buying more to trade with.

Profit from thin air? People who are making profit with trading do not create new money in the system. (why do i even need to say that?)

Traders matter nothing - zero do they matter. What matters: miners draw money out of the system and new money does not come in as fast as miners draw it out. So here you got something to wrap your head around.

Right now miners drain 6000$ from the system every 10 minutes on average. How much new money comes in? Very little. Certainly less than 6000$ every freakin' 10 minutes. So price goes down of course.

[Chef Ramsay]

I expect to see it around $200 after this dump.

It's a good guess but it'll most likely go down to the 220s and then ramp back up to the 300 territory before retracing back to a consolidation point, like 260ish.

[YourNewGod]

I expect to see it around $200 after this dump.

It's a good guess but it'll most likely go down to the 220s and then ramp back up to the 300 territory before retracing back to a consolidation point, like 260ish.

Can you see that future spike?
More people need to exit.

[altcoin hitler]

I expect to see it around $200 after this dump.

It's a good guess but it'll most likely go down to the 220s and then ramp back up to the 300 territory before retracing back to a consolidation point, like 260ish.

i think could be corrrect. I'd expect it to bounce around in the 200$-range for weeks and months to come. We're lucky if it doesn't dip into 100$-range. Being stable in 300$-range is out of sight.

[Bit_Happy]

I was reading the forums months ago when people were scoffing at the mere suggestion 'what if' bitcoin drops to 100 or less but now that it's made it to 100s already and even briefly jumping into the 300 before dropping back down to the mid 200s, resisting good news, isn't it realistic at this point to consider it very well can drop to 100 or below? If it's not reasonable please offer reasons why it just can't. Thanks.

The bump up from ~200 to 300 was a fast 50% gain, and those types of profits are very exciting for traders. Many people know that BTC is already over-sold, so smart money is buying and holding, not anticipating even lower levels.

[YourNewGod]

I was reading the forums months ago when people were scoffing at the mere suggestion 'what if' bitcoin drops to 100 or less but now that it's made it to 100s already and even briefly jumping into the 300 before dropping back down to the mid 200s, resisting good news, isn't it realistic at this point to consider it very well can drop to 100 or below? If it's not reasonable please offer reasons why it just can't. Thanks.

The bump up from ~200 to 300 was a fast 50% gain, and those types of profits are very exciting for traders. Many people know that BTC is already over-sold, so smart money is buying and holding, not anticipating even lower levels.

Exactly.

I expect to see it around $200 after this dump.

It's a good guess but it'll most likely go down to the 220s and then ramp back up to the 300 territory before retracing back to a consolidation point, like 260ish.

i think could be corrrect. I'd expect it to bounce around in the 200$-range for weeks and months to come. We're lucky if it doesn't dip into 100$-range. Being stable in 300$-range is out of sight.

My "guess" is based on research.
I can see it staying in 200ish range for 2-3 weeks, then moon.

[Dilla]

Still, $17mil > $1mil
Even with turnover those coins will be eaten up by people making profit and buying more to trade with.

Profit from thin air? People who are making profit with trading do not create new money in the system. (why do i even need to say that?)

Traders matter nothing - zero do they matter. What matters: miners draw money out of the system and new money does not come in as fast as miners draw it out. So here you got something to wrap your head around.

I understand what you're saying. But that doesn't mean those traders aren't putting more money into the system as they continue to trade, based on what you're saying we should still be going down everyday, and we haven't been recently. My initial response was meaning that the 3600 coins a day is a drop in the bucket to the amount traded every day. The downward pressure has not been because of miners but because of shorters, large sellers, etc.. Saying traders don't matter isn't correct. We've seen a shit ton of shorting and profit taking the last few months, you can't say that hasn't been one of the more bigger aspects to the price. Shorting in a bear market is pretty profitable, and shorters will continue to do so until their shorts are squeezed. Why am I having to say this? (Lol :p)

[hodlmybtc]

I'd gladly buy a lot of coins sub $100 but I'm 99% sure it will never happen anymore imo.

2014 has been an awesome year for bitcoin in terms of adoption and VC backing, the price crashed because right before 2014 started the price went parabolic driven by bots a lot of speculators and had to correct.

Now 2015 is still in january and if you add all the news in the last couple of months together and with the Coinbase exchange open and Gemini/ETFs coming all the people/institutions who waited by the sidelines will start buying.

This year the real money will buy in and it will probably the biggest adoption increase bitcoin has seen so far.

The orderbooks are thin already, all the getrichfast kids sold sub $200 and everything above added I'd say we're in for a wild ride, upwards ofcourse  

[altcoin hitler]

Still, $17mil > $1mil
Even with turnover those coins will be eaten up by people making profit and buying more to trade with.

Profit from thin air? People who are making profit with trading do not create new money in the system. (why do i even need to say that?)

Traders matter nothing - zero do they matter. What matters: miners draw money out of the system and new money does not come in as fast as miners draw it out. So here you got something to wrap your head around.

I understand what you're saying. But that doesn't mean those traders aren't putting more money into the system as they continue to trade, based on what you're saying we should still be going down everyday, and we haven't been recently. My initial response was meaning that the 3600 coins a day is a drop in the bucket to the amount traded every day. The downward pressure has not been because of miners but because of shorters, large sellers, etc.. Saying traders don't matter isn't correct. We've seen a shit ton of shorting and profit taking the last few months, you can't say that hasn't been one of the more bigger aspects to the price. Shorting in a bear market is pretty profitable, and shorters will continue to do so until their shorts are squeezed. Why am I having to say this? (Lol :p)

all correct but the miners give the shortsellers cover. 30 days: 100000 new coins

Where do they go? They go to exchange and are added for trading. Normally they are dumped at marketprice. So that's a basic dumping of 3600 coins every day which does happen reliably. How much is 3600 coins? How big is that sellwall? Such a sellwall every day ...

or differently said: a buywall of 3600 coins is whiped out every day across the exchanges - you don't see that. The coins come in drops. People underestimate this a lot.

It's this constant bleeding what you see every day. Shortsellers ad to it of course. They go with that.

[altcoin hitler]

This year the real money will buy in and it will probably the biggest adoption increase bitcoin has seen so far.

pipedreams and buying on hopium, hype, promises

-> doing it wrong