Quote from: lomalio on August 18, 2014, 05:03:00 AM

Quote from: AdamSmith on August 18, 2014, 04:32:54 AM

The price dropped for the last 2 weeks is only less than 20%. Many of the speculators obviously aren't around during the Mtgox and China bubble days.

Those drops had understandable reasons and actually had quick rebounds. But this current drop is psychologically worse because people see that most of the news is good but the price is dropping for no good reason. Those early drops made BTC look strong because of the support. This drop makes the BTC community look weak.

I think the resent drops are pretty understandable. Imagine your country printing millions of new dollars every day, and if the total value of those dollars is only around 6-7 billion $, obviously prices are going to fluctuate back and forth. It's not like there are new investors coming in daily that are buying up 3-4k of newly minted bitcoins every day.

If you really want to think about the long run, remember that around 90% of the coins will be mined in some years, what will happen to the price then?