Quote from: swecrypt on July 24, 2014, 07:10:55 PM

Quote from: Malin Keshar on July 24, 2014, 12:09:51 PM

We just went to 590-605(bitstamp-btc-e) price in matter of minutes.

Any news that justify that, or just some whale tired of bitcoin/price manipulation?

What I think: A lot of people have their summer vacations right now, and many of us (tech geeks at BTC forums) has all or most of their savings in BTC.
So they sell some to get money for travel and vacations. Sell pressure. At the same time that buy pressure is low when a large part of us is on vacation.
And major investors won't step in right now. Probably in september/october we will see a lot more action.
Personally I would actually LIKE to see BTC be at this level or lower, for at least another couple of years (!!) so that I can save and invest more money in BTC.
Also stability aroung $600 would probably help for more mainstream adoption.
The main criticism and skepticism I've heard is about the volatility. Personally I think 1 BTC should be worth at least $2000 by the end of the year, and I believe that it possibly could be worth x10 times that, in 2014. But it would be much more profitable for ME if thoose level is delayed a couple of years.

All or most of savings in bitcoin? I hope most of even the forumites are smarter than that...unless you are young and/or have very little savings.