Bitcoin is not something an average person can invest in.
Unless you are starting a platform or a service, I won't recommend anyone put more than 20% of their money in bitcoin.
Topic: Bitcoin’s Price Plummeted Over the Weekend (Read 1134 times)
Thanks for the recap but these stories are old.
You have to look at the whole pitcure, buy/sell volumes price, orders.
There was a couple of really big sales this week 22k coins plus each and the price didn't change much.
I think we could be at the bottom now, thoese who were around remember october last year.
You have to look at the whole pitcure, buy/sell volumes price, orders.
There was a couple of really big sales this week 22k coins plus each and the price didn't change much.
I think we could be at the bottom now, thoese who were around remember october last year.
Yeah It was a big dump, still managed to sustain the price that's what shows the power of people behind Bitcoin.
Or showed that the bots that are manipulating the price couldn't manipulate it because the whale controlled the market during those moments.
Thanks for the recap but these stories are old.
You have to look at the whole pitcure, buy/sell volumes price, orders.
There was a couple of really big sales this week 22k coins plus each and the price didn't change much.
I think we could be at the bottom now, thoese who were around remember october last year.
You have to look at the whole pitcure, buy/sell volumes price, orders.
There was a couple of really big sales this week 22k coins plus each and the price didn't change much.
I think we could be at the bottom now, thoese who were around remember october last year.
Yeah It was a big dump, still managed to sustain the price that's what shows the power of people behind Bitcoin.
Really enjoyed your post +1
I agree completely, the future of bitcoin is being determined by many who do not understand it or do not know what an amazing tool is will come to be.
We all have to do our part to make sure that we spread the knowledge we have about the true natures of this platform to as many people as we can.
Thanks for the recap but these stories are old.
You have to look at the whole pitcure, buy/sell volumes price, orders.
There was a couple of really big sales this week 22k coins plus each and the price didn't change much.
I think we could be at the bottom now, thoese who were around remember october last year.
You have to look at the whole pitcure, buy/sell volumes price, orders.
There was a couple of really big sales this week 22k coins plus each and the price didn't change much.
I think we could be at the bottom now, thoese who were around remember october last year.
Nice Read, hope the crash is only temporary.
i think we are all hoping for a high but more stable price.
i think we are all hoping for a high but more stable price.
there is no rocket science neded to understand this consistant drop n value all year long, in the early part of the year the decreases were small and roughly monthly decreases. holding steady at the months low to months mediums, by the middle of the year as Bitcoin collected new merchants we saw the decreases becoming more steeady than the value of bitcoin. and droppi9ng every 2 weeks instead of every month. it has held that track record for last part of the year, in addition skeptics, and scared investors are jumnping out as if the ship is about to sink but not looking to see if ther eis an actual hole in the Hull. This ship is far from sinking dont get me wrong, however we need to push thye ONE demand I have finally found and find newer ways to attract both attention to the coin as well as create a stronger demand for users to adopt its use.
we do not have a lot going for us, the wallstreet investment firms loosing pieces of portfolios to bitcoin, constantly telling their clients not to invest in Bitcoin its a failure and they have no idea what bitcoin even is, the banks are watching us, we are the rabbits the bank is the lion. they need one strong step in the wrong way. the governments are being pressured by the banks and financial institutions and are also watching us to see what our goals are. we have a lot going against us, and just to few of us trying to hold this projrect together.
We need investors that tell their investment firm what they want. SCENERIO Hello i would like to invest in bitcoins , INVESTMENT FIRM, No sir you dont that is not a good investment, our answer should be I am not sure where in my statement I said I wanted your opinion nor did I ask if I should invest in bitcoin what I said was BUY SOME BITCOINS AND ADD IT TO MY PORTFOLIO. If you do not I will take all my funds out of your company and put them all in bitcoins and you will have 1 less portfolio.
We need stronger supporters, not the veterans I see alot in here who have a whole lot of lip service and very little actions or proof backing up their stories and opinions. talk is cheap veterans, actions speak louder than words. If you have 1000s of bitcoins and you think you know your crap prove it, dont expect us to just believe your holding a butt load of coins, because it makes you look both stupid and uneducated about business and investments. Use some of those thousands of BTC and do something positive for the industry.
Wallstreet, bank and government problems, we will never escape, Bitcoins will be here for a long time, and they will be making this as hard as possible. the laws they would ahve to write would be very complicated as not to interfere with outher existing virtual currency such as gaming sites who use their own in game virtual currency, it would be really hard to press virtual currency laws with the other aspects using such a currency to make money in their games. so altho they will be there, they are kind of having a hard time.
NEW YORK, the sooner people realize NEW YORK does not run the whole of the United states, and New York does not make federal decisions on the laws placed over the whole country the faster people will not get so scared of what NEW YORK is ding. SCREW NEW YORK, let them pass all the laws they ant to, those are called state laws and ordinances, and they have no effect nor jurisdiction on the rest fo the country. they will have a negative impact on the economy of New York as a whole, the things they are doing will deter new york residence from using anything within their state, meaning the taxes pools pay for the sites they pay for will not go to new york, the electricity used in mining and the taxes on that huge cost will not go to new York but another state. ALtho you can not do things in new york, that state can NOT stop its residents from going out of state and starting a mine, or a pool, or anything else related to Bitcoin. New York is doing this because wallstreet is pressuring the state government to put an end to their madness. So people APLEASE stop worrying about what "New York" is passing and doing their stupidity only effects their state nothing else in the united states is effected by their state laws
we do not have a lot going for us, the wallstreet investment firms loosing pieces of portfolios to bitcoin, constantly telling their clients not to invest in Bitcoin its a failure and they have no idea what bitcoin even is, the banks are watching us, we are the rabbits the bank is the lion. they need one strong step in the wrong way. the governments are being pressured by the banks and financial institutions and are also watching us to see what our goals are. we have a lot going against us, and just to few of us trying to hold this projrect together.
We need investors that tell their investment firm what they want. SCENERIO Hello i would like to invest in bitcoins , INVESTMENT FIRM, No sir you dont that is not a good investment, our answer should be I am not sure where in my statement I said I wanted your opinion nor did I ask if I should invest in bitcoin what I said was BUY SOME BITCOINS AND ADD IT TO MY PORTFOLIO. If you do not I will take all my funds out of your company and put them all in bitcoins and you will have 1 less portfolio.
We need stronger supporters, not the veterans I see alot in here who have a whole lot of lip service and very little actions or proof backing up their stories and opinions. talk is cheap veterans, actions speak louder than words. If you have 1000s of bitcoins and you think you know your crap prove it, dont expect us to just believe your holding a butt load of coins, because it makes you look both stupid and uneducated about business and investments. Use some of those thousands of BTC and do something positive for the industry.
Wallstreet, bank and government problems, we will never escape, Bitcoins will be here for a long time, and they will be making this as hard as possible. the laws they would ahve to write would be very complicated as not to interfere with outher existing virtual currency such as gaming sites who use their own in game virtual currency, it would be really hard to press virtual currency laws with the other aspects using such a currency to make money in their games. so altho they will be there, they are kind of having a hard time.
NEW YORK, the sooner people realize NEW YORK does not run the whole of the United states, and New York does not make federal decisions on the laws placed over the whole country the faster people will not get so scared of what NEW YORK is ding. SCREW NEW YORK, let them pass all the laws they ant to, those are called state laws and ordinances, and they have no effect nor jurisdiction on the rest fo the country. they will have a negative impact on the economy of New York as a whole, the things they are doing will deter new york residence from using anything within their state, meaning the taxes pools pay for the sites they pay for will not go to new york, the electricity used in mining and the taxes on that huge cost will not go to new York but another state. ALtho you can not do things in new york, that state can NOT stop its residents from going out of state and starting a mine, or a pool, or anything else related to Bitcoin. New York is doing this because wallstreet is pressuring the state government to put an end to their madness. So people APLEASE stop worrying about what "New York" is passing and doing their stupidity only effects their state nothing else in the united states is effected by their state laws
The price of Bitcoin dropped almost 20% over the weekend, hitting a low of $290 before rebounding.
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Bitcoin enthusiasts had a scare this weekend, as the price of the currency plummeted from $356 on Saturday to a low of $290 on Sunday—a drop of more than 18%, percent according to CoinDesk’s Bitcoin Price Index. The virtual currency has since rebounded to a price of roughly $330 at press time Monday, down about 13% over the last seven days.
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Despite the price drop, Reddit’s r/Bitcoin, a popular gathering place for the currency’s supporters, was largely optimistic. “Who else is enjoying the firesale? Who else is picking up tons of cheap bitcoin?” asked one poster. But not everyone was confident that the price would recover. The New York Times quoted one worried user asking fellow Bitcoin fans for support. “As the price is going down, some of us are under immense psychological stress,” the post read. “Please share how you cope with it.”
Sunday’s crash was hardly Bitcoin’s first price panic, or even its most significant drop. In 2013, the currency lost almost 40% of its value between December 4 and December 7, when the price dropped from its all-time high of $1,147 to $694 in less than a week. After partially regaining those losses, Bitcoin fell 40% again from December 15 to 18, going from $879 to $522. Since the beginning of this year, Bitcoin’s price has been relatively more stable, but the descent has continued. From January through October 6 of this year, the currency has lost more than 40% of its value.
Exactly why the price cratered is subject to debate. Some have cited upcoming regulations, such as those proposed by New York’s Department of Financial Services, that will curtail the free-wheeling nature of the currency. Others have suggested that Bitcoin’s recent increase in popularity among retailers may have actually hurt its value. Paul Vigna at the Wall Street Journal theorized that because more merchants are using a service that instantly converts Bitcoin payments into dollars, all those Bitcoin sales may be driving down the price. However, as Vigna notes, such a long-term trend can’t directly explain this weekend’s sudden crash.
Bitcoin detractors have used this latest price fluctuation as a chance to take something of a victory lap. On Sunday, Paul Krugman, a longtime cryptocurrency critic, likened Bitcoin to a number of get-rich-quick schemes, from Glenn Beck’s “buy gold” ads to direct mail scams. “Bitcoin may be sold as a technical marvel, and it does indeed solve an interesting information problem,” acknowledged Krugman, but “it’s not at all clear whether solving that problem has any economic value.”
Other Bitcoin watchers say the hiccups may only be temporary. Rafael Corrales, a partner at Charles River Ventures, argued in the Times that recent Bitcoin price fluctuations are the result of its “transition stage” between between speculative vehicle and actual currency: “When Bitcoin becomes a currency, it realizes its potential.”
SOURCE:http://time.com/money/3474838/bitcoin-price-crash/
Bitcoin (virtual currency) coins
MORE
New York Proposes Bitcoin Regulations
WATCH: We Try Out NYC’s First Bitcoin ATM
Bitcoin enthusiasts had a scare this weekend, as the price of the currency plummeted from $356 on Saturday to a low of $290 on Sunday—a drop of more than 18%, percent according to CoinDesk’s Bitcoin Price Index. The virtual currency has since rebounded to a price of roughly $330 at press time Monday, down about 13% over the last seven days.
MORE
Nearly 5 Million Google Passwords Leaked on Russian Site
How Bitcoins Could Put Your Finances at Risk
Cops Can't Force Michael Brown Protesters to 'Keep Moving' NBC News
World on Edge: Spanish Nurse First to Get Ebola Out of Africa NBC News
Brian Williams: Why Cop Gave Mom a Car Seat, Not a Ticket NBC News
Despite the price drop, Reddit’s r/Bitcoin, a popular gathering place for the currency’s supporters, was largely optimistic. “Who else is enjoying the firesale? Who else is picking up tons of cheap bitcoin?” asked one poster. But not everyone was confident that the price would recover. The New York Times quoted one worried user asking fellow Bitcoin fans for support. “As the price is going down, some of us are under immense psychological stress,” the post read. “Please share how you cope with it.”
Sunday’s crash was hardly Bitcoin’s first price panic, or even its most significant drop. In 2013, the currency lost almost 40% of its value between December 4 and December 7, when the price dropped from its all-time high of $1,147 to $694 in less than a week. After partially regaining those losses, Bitcoin fell 40% again from December 15 to 18, going from $879 to $522. Since the beginning of this year, Bitcoin’s price has been relatively more stable, but the descent has continued. From January through October 6 of this year, the currency has lost more than 40% of its value.
Exactly why the price cratered is subject to debate. Some have cited upcoming regulations, such as those proposed by New York’s Department of Financial Services, that will curtail the free-wheeling nature of the currency. Others have suggested that Bitcoin’s recent increase in popularity among retailers may have actually hurt its value. Paul Vigna at the Wall Street Journal theorized that because more merchants are using a service that instantly converts Bitcoin payments into dollars, all those Bitcoin sales may be driving down the price. However, as Vigna notes, such a long-term trend can’t directly explain this weekend’s sudden crash.
Bitcoin detractors have used this latest price fluctuation as a chance to take something of a victory lap. On Sunday, Paul Krugman, a longtime cryptocurrency critic, likened Bitcoin to a number of get-rich-quick schemes, from Glenn Beck’s “buy gold” ads to direct mail scams. “Bitcoin may be sold as a technical marvel, and it does indeed solve an interesting information problem,” acknowledged Krugman, but “it’s not at all clear whether solving that problem has any economic value.”
Other Bitcoin watchers say the hiccups may only be temporary. Rafael Corrales, a partner at Charles River Ventures, argued in the Times that recent Bitcoin price fluctuations are the result of its “transition stage” between between speculative vehicle and actual currency: “When Bitcoin becomes a currency, it realizes its potential.”
SOURCE:http://time.com/money/3474838/bitcoin-price-crash/
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