Quote from: thesmallgod on February 06, 2018, 01:17:57 PM

Quote from: freightjoe on February 06, 2018, 12:22:13 PM

Quote from: Pragmatist on February 06, 2018, 12:19:16 PM

If you've looked at share price graphs, you'll notice that they tend to rise gradually, interspersed with sudden large falls.

The Bitcoin price graph over the last month is the opposite of that. It's a gradual decline, with the occasional sudden jump.

Any opinions on why that is?

Simple - large investors are slowly selling out. Be selling only gradually they price will slowly decline. Then sometimes a lot of Bitcoin fanatics - like the HODL'ers in this forum - think it is the bottom so they "buy the dip". This sends the price up for a short while.

Then the large investors continue to dump their coins. This will not end until Bitcoin gets down to close to zero and only the fanatics trade with each other for fun.

i dont want to believe this because if this is true, it mean we may likely see bitcoin going below $1000 this year

Well you may not want to believe it - but even if you close your eyes, you will still be hit by it.