Many people, especially Bitcoin BTC enthusiast probably were all excited about Bitcoin almost hit $1000 per BTC according to MTGOX, unfortunately it’s crashing down to $100 soon and even lower.
The skyrocketing or surge in its value were to due to China investors bought in Bitcoin raising the price and then cash it all out days later now the price of BTC Bitcoin dropped dramatically, that’s how it down. The more people buy, the higher Bitcoin price rise. Manipulating it as many people say, the rich get together buys Bitcoin raising it price up and then sell it days later to make profit, the lucky one able to sell high price while the unlucky one barely making pennies. Then for those that don’t buy or sell, they’re basically digging for it, mining to be exact, these folks just have that roller coast feeling, a swing set going up and down, but that’s about it, they’re not loosing money, although many miners would say “CRAP I should have sold it when it was at $900 +” well too late.
So when will be the next wave? No one know, because Bitcoin BTC does not get influenced by stock market or economies. So even stock market crashed, economies down, does not impact Bitcoin. Even if there were money laundering tied to Bitcoin and arrested were made and even shut down exchange business operation, still does not impact Bitcoin price.
Well folks, in conclusion all of us had a nice ride with Bitcoins over the past few days, if you haven’t sold your Bitcoin, you might want to consider selling it now at $500 and wait for it to drop down back to normal price $100 and buy some more. My prediction is that it will fall down to $100 or lower soon, until the next wave hit, which no one know when.
People whom mine Bitcoin purchase mining equipment were all excited until the price of BTC crashed, now they want to sell the equipment but no one going to buy. Basically Bitcoin related materials get impacted. The bitcoin mining equipment movements reacted to Bitcoin market. BTC.