[2017-06-15] Bitcoin tumbles 12%, erases gains for June

Flyyyy

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Quote from: Netnox on June 17, 2017, 01:44:07 PM

I am afraid that we may not witness any significant movement in the prices before August 1st. No one knows what will happen to Bitcoin after that date. It is quite possible that we will witness a split, similar to what happened with Ethereum. But we should also remember that Ethereum emerged much stronger after the split.

It is a pity only that after the split of ETH for a long time many people did not take seriously. Many have already buried this currency. I hope that the price after the split bitcoin will quickly recover. But for me it would be better if there was no split

iamTom123

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Quote from: noodle_dam on June 15, 2017, 12:42:06 PM

It being on CNBC news does not bode well for the cryptocurrencies exposure to the masses. Especially to the new members to the bitcoin community. They are not use to such fluctuations when they have just started using it and might cause them to shy away from it now after losing and it continuing to losing it value it gained very rapidly in late May and into June.

I read somewhere that one reason for the drop can be newcomers on the Bitcoin scene...these people can easily be freighted by FUD and they can easily pull-out their hoard of the currency even at a single bad news.

However, we can not stop these people nor can we discourage them since we all dream that one day Bitcoin can really go mainstream. When Bitcoin is all over the news, it is just natural that Bitcoin can be attracting neophytes who are here primarily for the money. This can be a reason why many analysts can be calling Bitcoin as just a bubble.

noodle_dam

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Quote from: veleten on June 17, 2017, 01:48:20 AM

Quote from: noodle_dam on June 15, 2017, 12:42:06 PM

It being on CNBC news does not bode well for the cryptocurrencies exposure to the masses. Especially to the new members to the bitcoin community.
They are not use to such flucuations when they have just started using it and might cause them to shy away from it now after losing and it continuing to losing it value it gained very rapidly in late May and into June.

I disagree-it being on CNBC or any other news outlet is good for exposure
in this case there is no such thing as bad publicity,I bet half of the people watching didn't know what bitcoin was
as for the price fluctuations,it is not the first time we see such a drop
it is not only bitcoin that took a dive,look at ETH- almost 25% wiped in a day

bitcoin is bouncing back as we speak,probably going back to 2600$ mark

You are correct on that sir.
It has bounced back like a dead cat Cheesy

to be at over $2600 at $2622 last time I check over an hour ago.

So it does not matter after all where this bad publicity comes from after all I guess. Undecided

Netnox

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I am afraid that we may not witness any significant movement in the prices before August 1st. No one knows what will happen to Bitcoin after that date. It is quite possible that we will witness a split, similar to what happened with Ethereum. But we should also remember that Ethereum emerged much stronger after the split.

ananas99

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Quote from: veleten on June 17, 2017, 01:48:20 AM

Quote from: noodle_dam on June 15, 2017, 12:42:06 PM

It being on CNBC news does not bode well for the cryptocurrencies exposure to the masses. Especially to the new members to the bitcoin community.
They are not use to such flucuations when they have just started using it and might cause them to shy away from it now after losing and it continuing to losing it value it gained very rapidly in late May and into June.

I disagree-it being on CNBC or any other news outlet is good for exposure
in this case there is no such thing as bad publicity,I bet half of the people watching didn't know what bitcoin was
as for the price fluctuations,it is not the first time we see such a drop
it is not only bitcoin that took a dive,look at ETH- almost 25% wiped in a day

bitcoin is bouncing back as we speak,probably going back to 2600$ mark

I do not understand the reasons for this price drop. I did not expect the price to fall so much. I was very surprised by this. But I was glad that the price is quickly recovering

Kemarit

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Quote from: veleten on June 17, 2017, 01:48:20 AM

Quote from: noodle_dam on June 15, 2017, 12:42:06 PM

It being on CNBC news does not bode well for the cryptocurrencies exposure to the masses. Especially to the new members to the bitcoin community.
They are not use to such flucuations when they have just started using it and might cause them to shy away from it now after losing and it continuing to losing it value it gained very rapidly in late May and into June.

I disagree-it being on CNBC or any other news outlet is good for exposure
in this case there is no such thing as bad publicity,I bet half of the people watching didn't know what bitcoin was
as for the price fluctuations,it is not the first time we see such a drop
it is not only bitcoin that took a dive,look at ETH- almost 25% wiped in a day

bitcoin is bouncing back as we speak,probably going back to 2600$ mark

Its publicity, so what they say, negative or positive publicity, is still publicity. CNBC market analyst can call whatever they want. Its their job, sometimes they said good things about bitcoin, sometimes not. But at least we are seeing mainstream media now, covering bitcoin market and trend. So I think this is already a plus for us. Yes, its purely speculative, we can seen this price swings in bitcoin numerous time and if you are nervous about it, then bitcoin is not for you. And as far as the price dip, it has already recovered and the price is hovering over $2600. The crash has been short lived.

veleten

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Quote from: noodle_dam on June 15, 2017, 12:42:06 PM

It being on CNBC news does not bode well for the cryptocurrencies exposure to the masses. Especially to the new members to the bitcoin community.
They are not use to such flucuations when they have just started using it and might cause them to shy away from it now after losing and it continuing to losing it value it gained very rapidly in late May and into June.

I disagree-it being on CNBC or any other news outlet is good for exposure
in this case there is no such thing as bad publicity,I bet half of the people watching didn't know what bitcoin was
as for the price fluctuations,it is not the first time we see such a drop
it is not only bitcoin that took a dive,look at ETH- almost 25% wiped in a day

bitcoin is bouncing back as we speak,probably going back to 2600$ mark

noodle_dam

hero member

Activity: 530

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It being on CNBC news does not bode well for the cryptocurrencies exposure to the masses. Especially to the new members to the bitcoin community.
They are not use to such flucuations when they have just started using it and might cause them to shy away from it now after losing and it continuing to losing it value it gained very rapidly in late May and into June.

Iranus

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Activity: 1792

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Leading Crypto Sports Betting & Casino Platform

Factors:

-Other cryptocurrencies are mainly traded against Bitcoin, so the graphs run close to parallel (all the top charts are down by nearly the same amount).
-BITMAIN's UAHF means that now August 1st will get even messier. Fear for the future.
-High fees for both Bitcoin and ETH leading to a decrease in confidence, as the price seems to be mostly speculation-based.

jennywhzz

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Quote from: Qunenin on June 15, 2017, 12:33:32 PM

Quote from: BurstIncomeAsset on June 15, 2017, 10:14:48 AM

Bitcoin dropped Thursday to its lowest level for June.
The decline comes after the digital currency topped $3,000 on Sunday, more than tripling in value for the year.
The market value of digital currencies overall dropped this week by more than $17 billion.

http://www.cnbc.com/2017/06/15/bitcoin-tumbles-12-percent-erases-gains-for-june.html

A good trader has already taken advantage of the price changes and have banked that back. The price drop has mildly curtailed current profits, but that is temporary. The key is to use some of your funds and make a profit and then, if the prices keep going up, sell some more and so on until the price drops.

This is the key to making money and most traders do this. The price was up there for a good period of time and most people made bank in the first 24 hours of the price rising.

Qunenin

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Quote from: BurstIncomeAsset on June 15, 2017, 10:14:48 AM

Bitcoin dropped Thursday to its lowest level for June.
The decline comes after the digital currency topped $3,000 on Sunday, more than tripling in value for the year.
The market value of digital currencies overall dropped this week by more than $17 billion.

http://www.cnbc.com/2017/06/15/bitcoin-tumbles-12-percent-erases-gains-for-june.html

A good trader has already taken advantage of the price changes and have banked that back. The price drop has mildly curtailed current profits, but that is temporary. The key is to use some of your funds and make a profit and then, if the prices keep going up, sell some more and so on until the price drops.

BurstIncomeAsset

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Activity: 504

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Bitcoin dropped Thursday to its lowest level for June.
The decline comes after the digital currency topped $3,000 on Sunday, more than tripling in value for the year.
The market value of digital currencies overall dropped this week by more than $17 billion.

http://www.cnbc.com/2017/06/15/bitcoin-tumbles-12-percent-erases-gains-for-june.html

Topic: [2017-06-15] Bitcoin tumbles 12%, erases gains for June (Read 6297 times)