Quote from: jbgc on September 08, 2011, 01:48:12 AM

About 3 months ago I bought a bunch of BTCs when they were at $20 per coin. I have been monitoring the BTC price and it is now down to 6-7. I'm kinda getting worried here.

If you are worried, then pull out now. If you don't care to lose the money, then just hang on to it and watch it slide to 0.

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Why has the price dropped so much?

Because more and more people are realising that bitcoin can actually do nothing that an existing currency can't do, that it is not anonymous, that it is cumbersome, that businesses and people alike actually do not like that "non-chargeback" idea, that the price of bitcoin is purely based on speculation and not an anything else and that there is no real bitcoin economy, unless you count a handful of scammers, drug dealers and "accepting bitcoin donations". And then they sell their bitcoins.

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In your opinion do you think it will swing back up?

No.