Bitcoin price below $300 for first time since end of 2013; community is not worried

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Although the price of Bitcoin keeps plunging and has reached a new low in the beginning of this new year – the value is now below $300 –, the worldwide cryptocurrency community does not look worried about potential losses.

The world’s most famous digital coin is currently valued under $300 for the first time since November 2013. Since then, Bitcoin reached an all-time high, peaking at $1,147.25 only a month after that, before the end of 2013.

But after a few months, the price started plunging and the trend didn’t change throughout 2014. And it looks like 2015 is starting in the same way. Since 23rd December, the value went from $335 to $270, the price registered today by the exchange Bitstamp and presented by the site Bitcoincharts.com.

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Bitcoincharts.com

According to Fred Wilson, a Bitcoin startup investor, “the horrible year that bitcoin had in 2014 will be a wakeup call for all stakeholders”. Regarding 2015, he told Business Insider that “developers will turn their energy from creating the next Bitcoin (all the alt stuff) to creating the stack on top of the Bitcoin blockchain. Real decentralized applications will start to emerge as the platform matures and entrepreneurial energy is channeled in the right direction”.

And, like Fred Wilson, most Bitcoiners don’t sound too concerned about the price drop. Here are some opinions published online on Bitcoin’s sub-Reddit and on BitcoinTalk.org.

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Bitcoin has already died 23 times. I should have more to add to this list very soon.
Published by jtos3

Well I don’t see the drop in price to be that significant looking at the big picture either, Bitcoin to me resembles a Gold chart more than anything. My point is if you are going to measure bitcoin in dollar terms expect a drop or at least a levelling off. The bigger picture is indeed a rise. But the opportunity is that Bitcoin however much the Dollar implodes upwards will get a short to medium term drop.
Published by nextgencoin

Most merchants use Coinbase, which means the merchant never owns Bitcoins at all. Coinbase then dumps their incoming Bitcoins on Bitstamp, so they can pay the merchant in fiat. Thus, all the holiday season transactions are over.
Published by nagle

Cheap coins, more chances for fair distribution. Think-long-term.
Published by BrainDamageLDN

Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.

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