Crypto's getting pummelled today... | Bitcointalksearch.org

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: humanitee on January 08, 2014, 11:15:59 AM

Quote from: dg2010 on January 08, 2014, 10:36:00 AM

Quote from: rebuilder on January 08, 2014, 07:19:40 AM

The price went up about 20% in two days. It'd be more surprising if that trend had continued.

What he said. Bicoin is volatile.

Also, pretty much all cryptos follow bitcoin's movement. On huge green days, they all go up. On the last rally I think there was a point where the top 45 or so were all in the green.

Top 45? I don't follow alts, but just how many are there by now?

humanitee

hero member

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Quote from: dg2010 on January 08, 2014, 10:36:00 AM

Quote from: rebuilder on January 08, 2014, 07:19:40 AM

The price went up about 20% in two days. It'd be more surprising if that trend had continued.

What he said. Bicoin is volatile.

Also, pretty much all cryptos follow bitcoin's movement. On huge green days, they all go up. On the last rally I think there was a point where the top 45 or so were all in the green.

dg2010

sr. member

Activity: 462

Merit: 250

Quote from: rebuilder on January 08, 2014, 07:19:40 AM

The price went up about 20% in two days. It'd be more surprising if that trend had continued.

What he said. Bicoin is volatile.

rebuilder

legendary

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Merit: 1000

The price went up about 20% in two days. It'd be more surprising if that trend had continued.

arepo

sr. member

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Merit: 250

this statement is false

Quote from: jbrock11 on January 07, 2014, 08:01:15 PM

Any reason why? Hard to believe it's just random volatility.

Quote from: cryptozark on January 07, 2014, 09:13:40 PM

The most likely reason in my opinion is that TaoBao (the chinese Ebay) is blocking anything related to Crypto. Also, there's a rumor that the FBI is going to dump their seized Silk Road assets.

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

However, I think many people believe that is just shoddy reporting and not true at all. It could still incite some panic though.

the news is only half the story. a few comments on the price environment:

1) it may be hard to believe, but the volatility we are seeing now is still related to the December crash. it takes some time for the market to work through the oscillations that such a huge disturbance causes.

2) the volatility in the last 10 or so days is also marking the end of a nearly 20-day uptrend, and this is a normal market correction (i know it seems steep but remember we were at $600 around three weeks ago!)

--arepo

cryptozark

member

Activity: 112

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Cryptocurrency is my new obsession

The most likely reason in my opinion is that TaoBao (the chinese Ebay) is blocking anything related to Crypto. Also, there's a rumor that the FBI is going to dump their seized Silk Road assets.

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

However, I think many people believe that is just shoddy reporting and not true at all. It could still incite some panic though.

jbrock11

newbie

Activity: 29

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Any reason why? Hard to believe it's just random volatility.

Top 45 are in the red.
coinmarketcap.com

Notables -

Bitcoin: -15%

Litecoin: - 22%

Peercoin: -21%

Topic: Crypto's getting pummelled today... (Read 1511 times)