Why is the price of bitcoin crashing?

Discussion in 'General Bitcoin Gambling Discussion' started by Terry, Sep 14, 2017.

  1. Terry

    Terry Member

    A month ago it looked like bitcoin was going to break $5,000 and go straight to $6,000 so I thought I would be clever and buy my bitcoin for the NFL season a month earlier than I needed it. Now that the NFL has kicked off, I decided it was time to make a deposit and it turns out I paid $4,800 for a bitcoin that's now worth $3,400. What the hell happened? I expected the price to go up at the start of the football season, not go down.
     
  2. Humble Servant

    Humble Servant Active Member Staff Member

    The price is back over $4,000 despite the ban on crypto-currency exchanges in China. I would warn you that there will be a possible hardfork in late November, which could cause a lot of uncertainty and send the price plummeting again.
     
  3. SuckIt

    SuckIt Member

    i can't decide if i should sell my coins before the 2x hardfork or keep them and get the free coins like with bcash.
     
  4. remarkably the price of bitcoin was nearly $6,000 again today even though there is a controversial hardfork in a couple of weeks. i thought it would have crashed to about $3,000 by now.
     
  5. Kaboom

    Kaboom Member

    we set a new all time high of $6,300 over the weekend which is extremely bullish when you consider we have some miners and bitcoin companines like xapo and blockchain.info trying to destroy bitcoin. i predict that we will hit $8,000 by the start of 2018 once all this segwit2x nonsense is finally behind us.
     
  6. Doyle

    Doyle Member

    We're back up over $7,000 now. So what are you guys price predictions for the end of 2017?
     
  7. 4TheWin

    4TheWin Member

    I think BTC needs some positive Lightning Network news before the end of the year if we are going to break $20,000 by the end of 2018. The market is pretty bearish right now.
     
  8. Fatboy

    Fatboy Member

    I'm starting to see a lot more bullish signals now for bitcoin. I think we pay have already hit the bottom and we should claw our way back above $10,000 over the next month.

     
  9. Tommy82

    Tommy82 Member

    I really don't understand why bitcoin is crashing today again. Lightning Network is progressing rapidly and Goldman Sachs are even currently developing a bitcoin trading desk so it should be mooning right now.
     
  10. Hernia

    Hernia Member

    some people thing the bitcoin price is being manipulated...

     
  11. Pony

    Pony Member

    the price of bitcoin is going to continue crashing and pumping for the foreseeable future so people better get used to it.
     
  12. Humble Servant

    Humble Servant Active Member Staff Member

    I wish we would bottom already. It has been a very long year of watching the price gradually drop from $16,000 to $3,000. It can't have too much further to go.
     
  13. 4TheWin

    4TheWin Member

    Bitcoin is going to go through many boom and bust cycles over the coming decades so people need to get used to 80% swings in price.
     
  14. Spud

    Spud Member

    According to trading legend Peter Brandt, bitcoin might be on the verge of going parabolic again in the near future. The price is already up about 20% in the last week. With a bit of luck we could see $70,000 - $80,000 bitcoin by 2021.
     
  15. Humble Servant

    Humble Servant Active Member Staff Member

    Trace Mayer is predicting we'll see $100,000 to $250,000 in the next bull run. Wouldn't that be amazing!!

     

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