If you’ve taken a peak at the bitcoin price charts lately, you might have noticed that the price of bitcoin is down. Some would say alarmingly so, but for those of us that have been in the game since the beginning, it’s nothing we’re not accustomed to by now.
A quick peak at the charts (drawing data from the Bitstamp exchange) quotes us $436 at the last trade (as of this writing). Over the past seven days, we’ve seen the price slowly sink down to this level from the $480 range — down over 7 percent.
Which of course leads many to ask: what in the world is going on?
If there were an easy answer, that would be great. But the fact of the matter is that the price of bitcoin does wild things, and I certainly don’t know or pretend to know why the price is trending in a certain way.
It’s interesting, though. Generally when the price tends to sink, you’ll find threads pop up on social sharing website Reddit.com designed to lighten the spirits of those who may be discouraged by bitcoin’s recent performance (see this link as an example).
Despite the chatter, it certainly does seem as if the community remains optimistic. Why shouldn’t they? After all, many of us have been here before (as noted previously).
The question now is: where do you see the price going from here? Do you think we’re in for some additional losses, or do you think we’ll be seeing a recovery in the near future.
Many of you are much more knowledgeable than I on bitcoin’s price movements, so don’t be shy to chime in.