Quote from: antimattercrusader on November 10, 2013, 05:59:36 PM

Quote from: qu.fadep on November 10, 2013, 04:37:56 PM

Hi guys. Whats is lowering the BTC price ? Undecided

maybe the china ?

Yes and no.

#1: We've had an epic growth period, time for a correction/consolidation.
#2: This is a weekend, market is less bullish on weekends.
- Because people are doing other things
- Because banks are closed, not processing transactions - no more fiat coming in to buy, but BTC can still be easily sold = sell pressure
#3: This is a long weekend, meaning at least in the US, people will have to wait until Tuesday before banks start processing deposits/wires.

So, I think these factors combine quite nicley to explain this drop. The fact that we're still ~ 300 is actually probably a good sign, as it appears to be more of a correction than crash.

If we resume the upward trend next week, it will considerably increase my confidence of the current price levels. I, for one, while sad BTC is not $50,000 at hte moment, am happy to see the end of the exponential price gains - it makes this much more realistic and sustainable. We shall see what happens next.

Agreed, we should work to reinforce our satisfaction with not having exponential price gains. It's exciting, but unreasonable, unsustainable and a bad long term sign.