The bigger buyers pumped it. Smaller buyers thought it was going to keep rising and jumped on the bandwagon. Now the bigger buyers are dumping and took their profit. Profit that comes from you buying.
Now it will fall again and it wont stop falling for 10 months or so.

I posted this now almost a year ago:
I did sell everything then, I hope I saved some people some money by the warning.

It was about 600$ back then, and I predicted the drop. Plenty of people laughed but the authors graph just proves that I was right, it started to drop and it did not stop since.
The end of the drop is nowhere near yet.

The volume of bitcoin has been dropping faster then the price in bitcoin.

In my opinion this means an increasing lack of interest in bitcoin, and it might be that the price will follow.

What do you guys think?

The price is going to drop more, so I would wait.

The price is dropping because:
- Early backers are leaving
- no new money coming in because basicly all news regarding bitcoin is bad currently

Furthermore there is a lack of interest in bitcoin for the general public. There has been a drop in volume for months already.
The volume of bitcoin is about 4 times the volume of litecoin, but it's price is 43 times higher, so something is seriously wrong there.

I found the volume, or lack of it, can be a good indicator for the future price of coins. I watched it happen to enough "promosing" upcomming altcoins, when the volume started to drop the price would follow.

Sudden rise in volume usually means an upcomming pump or dump. Or a pump followed by a dump.

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

It's all nice to shout he doesn't understand bitcoin if you op out and all, but understanding bitcoin won't buy a house or bring bread onto the table

Smartest comment on this post. Bail while you still can, price is going to fall even harder, starting tonight or tomorow and it won't stop until it hits 10$!

Smart money is selling, the market is plumbing!

350-370$ its going to drop so hard after the china news, I don't think it will recover!

If she trusted you the money to invest then she is partly responsible for trusting you. That doesn't help with your feeling of guilt ofc, but yes you should just tell her.

Yes tonight or tomorrow it's going to start dropping and it won't stop until it hits 0!

Good I now longer have to pay off my loan, and I still have my house.

It's back on the way down, tonight or tomorow it will start falling and won't stop until it hits 10$.

The classical response if you sell it must be because you don't understand bitcoin. Or maybe I understand better how bitcoin works then you think. After all, I already completed University. I don't think because it crashed and recovered before it will do that again automatically. It's dangerous to assume so. Maybe it will but as I said, all the facts currently point in the other direction.

I will stop posting here now because I think I made my point, I heard no valid arguments against it, and some of the people who respond seem to have lost all sense with reality. I just hope people realize in time that the rocket to the moon has run out of fuel and is starting to drop.

I don't understand why you would assume that, but if you have to know I didn't realize it at the start.
But it brings up an interesting discussion. If we look at just the morals here, and forget about the money. Assuming that you know for sure Bitcoin is helping criminals, should you stop using it?

I think we all know what the answer is here.

Oh, I was here to make money (and to learn more about Bitcoin), I don't think I have ever denied that? I did felt uncomfortable knowing that Bitcoin enabled criminals, but I don't believe it affected my decision to sell.
I was just pointing out that your intentions to have bitcoin might not be so pure as you want us (or yourself) to believe.

Ah you mean you want to make the world a better place...for yourself.

In a perfect world I wouldn't really care, you can hide your money from the state if you want to. But we don't live in a perfect world. And we need to pay taxes for the services we get, even if we don't want to.
If everyone followed the law there would be no issues there. But there problem is that not everyone does follow the law, and any kind of criminal activity is very thankful for providing means for them to hide their dirty money, made from drug traffic, slavery, extortion, theft,smuggling,..these are the kind of activities you enable.

So don't kid yourself thinking you are here for the benefit of others, and that Bitcoin will make the world a better place to live in. You are here for selfish reasons, as you yourself have stated.

Likely?  I have witnessed 3 stock crashes already, and one thing I have learned is: when all the news is bad, it's probably not going to get good any time soon. Some stocks recover and some stocks do not ever rise again.
So trust me it can always drop more.

Because I think there are a lot of people in my situation who take this tiny loss in silence, so I think one of these story's deserves to be told. I never said it was a big deal.

By solving banking problems for criminals?

Why the quotes?

You are ofcourse here because bitcoin will make the world a better place?