[sic] "This selling is related to big businesses that accept the digital currency (Dish Network, Dell, Overstock etc.) immediately exchanging payments for physical, government-backed currency. Efforts to automate trading have also lead to the utilization of specialized bots that react to these sell-offs by dumping further stock, driving the currency’s price further down."
Not sure if anybody mentioned the above as a contributory factor in declining btc price.
Thanks, TeeGee. That could be one of the contributing factors. Another one could have something to do with Litecoin drastic price drop to under $4. A lot of money has been lost on this one causing many people to feel confused and negative about the future of the crypto industry.
This should not be a surprise. There are always problems and wrong expectations at the infancy of any technology. As the industry matures, problems are always resolved. At this stage, it is prudent to take our time and do things right. The current culture of the need to move at the speed of light could be the industry biggest enemy, causing very heavy casualties. Numerous coins are being deleted by every exchange all the time.
I have decided to hold off in posting a few of my write-ups, to avoid any possibility of being labeled as an effort to “pump” as DNotes is being listed on Mintpal Exchange.