[2017-11-11] Bitcoin Price Decline Continues As Markets Drop Below $6,500

Agostosmori

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Quote from: cybersofts on November 11, 2017, 07:57:47 AM

The price of bitcoin is down more than 8 percent today, continuing losses that began after the cryptocurrency slipped below the $7,000 level.

Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900.

Earlier in the day's trading, the price had climbed as high as $7,330.06, with today's low marking a more than $600 decline since that level.

At press time, bitcoin is trading at $6,567.86.

Source: https://www.coindesk.com/bitcoin-price-decline-continues-markets-drop-6500/

This is the effect of the cancellation of the segwit2x fork, it is not alarming since the price decrease is not that high.
And the price can still be considered as stable.

greeklogos

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Quote from: Slow death on November 11, 2017, 09:56:20 AM

fell below $6200, I believe people are selling their bitcoins to buy BCH to take advantage of the pump that BCH is having.

What a crap. Why people would move their founds into Bitvoin Cash? To me it is out of logic. Yes BCC is raising, but it is not the most perspective crypto on the market. I really don't think that holders sell their bitcoins to invest in BCC.

kaizerblitz

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I will buy now as long as i can and fly bitcoin price soon. Bitcoin have a many prove to us and he never fail to us it has support price $5600 don't afraid if the price has down weak hands sell it. It's a challenge for us everything is fine after segwit2x.

panju1

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Quote from: Chandu141 on November 12, 2017, 01:41:50 AM

Quote from: Irvinn on November 12, 2017, 12:38:08 AM

Whatever the reason for the drop in the bitcoin rate: either it is sold because of the cancellation of the upcoming November fork, or because it is pumped into bitcoin cash, bitcoin will soon be restored in its previous course and grow further. To its leaps in value it is necessary to treat calmly and to know that after each fall there should always be an upswing.

exactly.. we all / BTC market watchers know how it swings ups and downs.. to take a leap for $10,000 .... BTC shall fall back to $5,000 ..

I too believe in the long term potential of Bitcoin. But now the question has arisen - which is the Bitcoin which has the backing of the masses. Is it Bitcoin or Bitcoin Cash? A lot of backers of Bitcoin may bristle at this idea, but nevertheless, it is something which has to be considered.

Chandu141

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Quote from: Irvinn on November 12, 2017, 12:38:08 AM

Whatever the reason for the drop in the bitcoin rate: either it is sold because of the cancellation of the upcoming November fork, or because it is pumped into bitcoin cash, bitcoin will soon be restored in its previous course and grow further. To its leaps in value it is necessary to treat calmly and to know that after each fall there should always be an upswing.

exactly.. we all / BTC market watchers know how it swings ups and downs.. to take a leap for $10,000 .... BTC shall fall back to $5,000 ..

Irvinn

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Whatever the reason for the drop in the bitcoin rate: either it is sold because of the cancellation of the upcoming November fork, or because it is pumped into bitcoin cash, bitcoin will soon be restored in its previous course and grow further. To its leaps in value it is necessary to treat calmly and to know that after each fall there should always be an upswing.

Xabad

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Quote from: 1Referee on November 11, 2017, 10:37:14 AM

Quote from: Slow death on November 11, 2017, 09:56:20 AM

I believe people are selling their bitcoins to buy BCH to take advantage of the pump that BCH is having.

It's indeed obvious where a large part of the money flows into right now. Only an utter idiot buys himself into BCC, and especially when it is at current insanely high levels. I don't even feel sorry for these people, because they should know better when it comes to what malicious entities they feed when buying into this rubbish coin. It directly also shows how certain people here are gambling with their Bitcoins in order to make up for the price that's going down. It's almost like they don't care and just hope for a good outcome. Cheesy

It is somehow a correction on bitcoin's price because of the cancellation of the segwit2x fork, most of bitcoin holders are now selling their coin because the fork was called off. But I still believe that Bitcoin's price will recover soon.

1Referee

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Quote from: Slow death on November 11, 2017, 09:56:20 AM

I believe people are selling their bitcoins to buy BCH to take advantage of the pump that BCH is having.

It's indeed obvious where a large part of the money flows into right now. Only an utter idiot buys himself into BCC, and especially when it is at current insanely high levels. I don't even feel sorry for these people, because they should know better when it comes to what malicious entities they feed when buying into this rubbish coin. It directly also shows how certain people here are gambling with their Bitcoins in order to make up for the price that's going down. It's almost like they don't care and just hope for a good outcome. Cheesy

Slow death

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Quote from: cybersofts on November 11, 2017, 07:57:47 AM

At press time, bitcoin is trading at $6,567.86.

fell below $6200, I believe people are selling their bitcoins to buy BCH to take advantage of the pump that BCH is having.

" Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900. "

For now as there is no great news I believe that the price will drop and will rise little

cybersofts

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The price of bitcoin is down more than 8 percent today, continuing losses that began after the cryptocurrency slipped below the $7,000 level.

Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900.

Earlier in the day's trading, the price had climbed as high as $7,330.06, with today's low marking a more than $600 decline since that level.

At press time, bitcoin is trading at $6,567.86.

Source: https://www.coindesk.com/bitcoin-price-decline-continues-markets-drop-6500/

Topic: [2017-11-11] Bitcoin Price Decline Continues As Markets Drop Below $6,500 (Read 3620 times)