Silk Road forums

Discussion => Security => Topic started by: CaliforniaCannibas on June 07, 2013, 10:57 pm

Title: Bitcoin drop......down 10 today....down 20 for the week
Post by: CaliforniaCannibas on June 07, 2013, 10:57 pm
Wow.....the bitcoin is being pushed down super hard today.....and all week.

Any ideas as why?
Title: Re: Bitcoin drop......down 10 today....down 20 for the week
Post by: fordingtheharrison on June 08, 2013, 01:25 am
http://www.google.com/trends/explore?q=bitcoin#q=bitcoin&date=1%2F2013%2012m&cmpt=q

The price always follows search volume, and search volume continues to decrease. It could be a trend that lasts for several weeks.

I might also blame the recent price on the dip in quality and service and customer opinion of Mt. Gox that's been happening lately.
Title: Re: Bitcoin drop......down 10 today....down 20 for the week
Post by: bluegreen23 on June 08, 2013, 02:13 am
could be a good time to buy in.
Title: Re: Bitcoin drop......down 10 today....down 20 for the week
Post by: AussieMitch on June 08, 2013, 03:33 am
Generally when the price drops it's MtGox's fault, the entire problem with Bitcoins is the fact that one exchange has the power to sink the BTC economy like that.

We need more exchanges to create more competition, and the growth of services like localbitcoins.com to help BTC escape US regulatory pressure.
Title: Re: Bitcoin drop......down 10 today....down 20 for the week
Post by: sharonneedles on June 08, 2013, 07:29 am
http://www.google.com/trends/explore?q=bitcoin#q=bitcoin&date=1%2F2013%2012m&cmpt=q

This is the rate that people have searched for the keyword "bitcoin". Can you explain concretely how this is related to the price of btc? thanks
Title: Re: Bitcoin drop......down 10 today....down 20 for the week
Post by: Rastaman Vibration on June 08, 2013, 07:57 am
Is BTC price at all related to the stock market? The U.S. stock market took a big tumble the other day. I was expecting BTC price to follow, but it didn't right away. MAybe this is a delayed reaction?