The "aggressive correcton" was due to the COMPLETE INCOMPETENCE of Bitfinex, as they flailed about to bring up their order book.
There was an initial bar decline of 740 to under 700 in SECONDS, because these fucking idiots didn't have their ducks lined up and allowed mis-matched trades. But hey, who cares, everyone will still end up trading with these fools.
Just get the blame right -- BFX was the SOURCE of this decline, not "investor sentiment".
Topic: [2016-06-21] coindesk.com| Bitcoin Price Plunges Below $700 As Market Outlook (Read 334 times)
June 22, 2016, 11:49:20 AM
June 22, 2016, 01:55:07 AM
Silly silly people; these markets are not very efficient; expect hiccups as life moves forward...
June 21, 2016, 05:15:40 PM
Bitcoin Price Plunges Below $700 As Market Outlook Weakens
The price of bitcoin fell below $700 on 21st June, dropping more than 10% in an aggressive correction to recent gains.
The decline came just a day after the price surpassed $780, rising to a fresh 28-month high, CoinDesk USD Bitcoin Price Index (BPI) figures reveal. But while this could be viewed as a positive for the digital currency, investors didn't quite see it the same way....
http://www.coindesk.com/bitcoin-price-700-indicators-weak/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29
The price of bitcoin fell below $700 on 21st June, dropping more than 10% in an aggressive correction to recent gains.
The decline came just a day after the price surpassed $780, rising to a fresh 28-month high, CoinDesk USD Bitcoin Price Index (BPI) figures reveal. But while this could be viewed as a positive for the digital currency, investors didn't quite see it the same way....
http://www.coindesk.com/bitcoin-price-700-indicators-weak/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29
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