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If you’ve had your eyes glued to the charts, you’ve noticed that the bitcoin price has been going anywhere but the moon lately.
This morning, I’m observing $513 per bitcoin at the Bitstamp exchange, a few points up from the thirty-day low we saw in the past twelve hours, which hit a bottom of $503 per bitcoin.
Obviously, such movement has prompted many in the bitcoin community to discuss, exchanging ideas as to why the price has declined over 17 percent in the past month.
It’s during these times that traders begin to panic, further bringing the price down, but many are still hopeful we’ll see price spikes the likes of which we encountered last year.
In case you’re new to the community, in April 2013 we saw a rise in the price from double-digits to over $200. It was at this point that bitcoin caught the attention of mainstream media.
Later in November, as the Chinese were becoming delightfully aware of this digital currency, the price spiked past $1,000 in an amazing show of just how far bitcoin has come.
Now, I’ve told you all this, and I’ll say it again: I’m not a markets expert. So I’m certainly not going to give you a rundown of why and how the price is so low.
My main point in writing this, however, is to perhaps start a conversation in the comments below. What do you attribute this price decline to? Are you feeling optimistic at all? Chime in!
James 
beatljuice 
00Pottus00 . 
btcfuture 
alexjonesshouldshouthismouth 
I wish I knew.. so much good news and still going down. losing a bit of hope
I’m totally optimistic for the long term but bummed the price is low right now because I need to sell some to pay bills.
It is because the value is actually much less than what is shown if you were to take all the Bitcoins cumulative value there sure is heck not that much in fiat involved in Bitcoin. I would contend that the price is highly inflated the actual deflationary value is much lower that value would be exactly how much fiat is involved in Bitcoin. This is why there is such volatility a large percentage of the price is make belief and not a true reflection of actual value eventually events like we are seeing happen where Bitcoin plummets.
It is said Bitcoin is not backed by anything this is of course simply not true Bitcoin is backed by fiat without fiat Bitcoin could have no value.
not to worry, big buyers are waiting below to gobble up cheap coins so when they rally later this year they will be laughing and the small guys will be crying. happens everyday in the forex market. either you can afford to move the market and wait until youre in profit, or you panic and sell when you start to lose. the large hedge funds and investors are trying to get your liquidity people!
think where we are now in 2014 with BTC with all the good news and adoption after only 5 (I think?) years, where will it be in another 5? once another major market moves in like china did last year (other markets like india, s america, africa, rest of asia etc) then things will get interesting.
where is ‘below’ and what is ‘cheap’ and ‘how long till next rally’ etc are all up in the air factors of course, but its still coming…
my bet, price will hit 350 to 400 for a few weeks. Argentina starts adopting more rapidly causing new ralley, then another SAm country pushing price back up to 800. Next year we’ll see some African nations get in, pushing price up again, along with ebay/paypal/amazon/facebook joining in.
Point is, this is the trough, there is a peak coming, then another trough.
Price dropped because Alex Jones started accepting bitcoin. Why man, why?