Topic: Crypto falls to lowest price since February – Why is BTC falling? - page 5. (Read 723 times)
August 04, 2018, 01:12:08 PM
No one seems to understand what is really happening to the market. We all thought it was recovering, but now it is going down again.
August 04, 2018, 01:10:00 PM
Very good article. I however feel this is all being manipulated down. I feel that the bankers/elite are attempting a hostile take over. This is the shakeout to get you to panic sell to them. Once they have gotten all they can squeeze we will have a sharp rally which will not decline back to these levels.
August 04, 2018, 01:02:11 PM
Worth an article. I think many of us are thinking much. BTC fallen because of the usual volatility. I suggest not t6o worry much though many of us has been loosing a great amount of hope and values. I suggest, please be patient and think thoroughly. Hypes, pumping etc will remain everywhere, as in a place like this volatile market. The news was interesting to read. Would like to know more from you.
August 04, 2018, 12:21:01 PM
The price of the crypto market has dropped down and bitcoin price also dropped. It is very common, the price of liquidity-based markets is always worthwhile. The crypto market or bitcoin is dependent on liquidity. So here also the price will be grow up or down its normal. I think the crypto market and Bitcoin will turn around.
August 01, 2018, 02:11:58 AM
BITCOIN has suffered its worst day since February as the price tumbled, prompting fresh fears about the long-term viability of cryptocurrencies. So why is BTC falling?
https://steemitimages.com/DQmPmCeDRRLceEpNVfopQsiUSxGcFojsX8ka8iVXtuQ6LWR/1.jpg
In December, the crypto reached a record high of $19,511 (£14,588), the culmination of the hype over the alternatives to traditional currencies. Today, the price of BTC dropped as low as $6,498 (£4,858).
This brings the downward slide for the year to more than 50 percent already.
Why is BTC falling?
Experts are citing various reasons for the massive drop in BTC’s value this year.
There are the issues of regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry. However, bitcoin and other cryptocurrencies have seen a sharp drop since South Korean cryptocurrency exchange Coinrail was hacked over the weekend. Coinrail, which is thought to have lost around £28m in the cyber attack, tweeted to confirm the hack on Sunday.
Shortly after, bitcoin saw its value tumbling by 10%. This latest attack highlights the lack of cybersecurity and weak global regulations of crypto markets. Coinrail said in a statement that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30 percent of the coins traded on the exchange.
The statement added: “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]."
https://cdn.images.express.co.uk/img/dynamic/22/590x/secondary/Coinrail-tweet-1378709.jpg?r=1528839678558
“Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies," the statement continues.
“For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.”
Korean police have begun an investigation into the incident. Bitcoin has been further hurt by damning reviews from industry leaders.
Bill Gates, Berkshire Hathaway's Warren Buffett and JP Morgan chief executive Jamie Dimon, expressed their scepticism of Bitcoin and cryptocurrencies again last week.
Warren Buffet has called BTC “probably rat poison squared.”
A few big names, such as Twitter's Jack Dorsey and Apple co-founder Steve Wozniak, have thrown their weight behind crypto, but supporters from the finance world are a rarity right now.
In May, the crypto sector found itself under increasing government scrutiny when the US Justice Department opened a criminal probe into illegal trading practices that can manipulate the price of Bitcoin and other digital currencies.
Courtesy: www.express.co.uk
https://steemitimages.com/DQmPmCeDRRLceEpNVfopQsiUSxGcFojsX8ka8iVXtuQ6LWR/1.jpg
In December, the crypto reached a record high of $19,511 (£14,588), the culmination of the hype over the alternatives to traditional currencies. Today, the price of BTC dropped as low as $6,498 (£4,858).
This brings the downward slide for the year to more than 50 percent already.
Why is BTC falling?
Experts are citing various reasons for the massive drop in BTC’s value this year.
There are the issues of regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry. However, bitcoin and other cryptocurrencies have seen a sharp drop since South Korean cryptocurrency exchange Coinrail was hacked over the weekend. Coinrail, which is thought to have lost around £28m in the cyber attack, tweeted to confirm the hack on Sunday.
Shortly after, bitcoin saw its value tumbling by 10%. This latest attack highlights the lack of cybersecurity and weak global regulations of crypto markets. Coinrail said in a statement that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30 percent of the coins traded on the exchange.
The statement added: “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]."
https://cdn.images.express.co.uk/img/dynamic/22/590x/secondary/Coinrail-tweet-1378709.jpg?r=1528839678558
“Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies," the statement continues.
“For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.”
Korean police have begun an investigation into the incident. Bitcoin has been further hurt by damning reviews from industry leaders.
Bill Gates, Berkshire Hathaway's Warren Buffett and JP Morgan chief executive Jamie Dimon, expressed their scepticism of Bitcoin and cryptocurrencies again last week.
Warren Buffet has called BTC “probably rat poison squared.”
A few big names, such as Twitter's Jack Dorsey and Apple co-founder Steve Wozniak, have thrown their weight behind crypto, but supporters from the finance world are a rarity right now.
In May, the crypto sector found itself under increasing government scrutiny when the US Justice Department opened a criminal probe into illegal trading practices that can manipulate the price of Bitcoin and other digital currencies.
Courtesy: www.express.co.uk
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