May be this price suggesting accumulation phase going on before big usual november pump this year also lol.
However the large dump on early of august is due to bitfinex hack rather than natural price correction.
Topic: This price (~$575) is normal and good, and here's why... - page 4. (Read 2797 times)
I believe last summer the price was even less than $350 as you said. the price was very low before the big pump that happen at the beginning of October and November
I meant the price was approximately $350 lower at this time last year, as in, actually price was in the low 200's
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I believe last summer the price was even less than $350 as you said. the price was very low before the big pump that happen at the beginning of October and November
So we had the halving hype and lot's of people pouring money into bitcoin in anticipation of the halving. This pumped the price to $785 a coin which was pretty much expected or at least not surprising. Once people realized that the "halving run-up" was over, they profit-booked, causing an expected correction. It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600). This has happened with all other halvings in other cryptocurrencies.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
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