It's a bloodbath across the whole complex today. Bitcoin currently down 11%.
https://www.worldcoinindex.com/
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It's a bloodbath across the whole complex today. Bitcoin currently down 11%.
https://www.worldcoinindex.com/
What caused it, and why are there so many of these coin things?
Some small South Korean exchange has been hacked. That's the only reason I can find as a possible catalyst for today's dump. Psychology appears to be the biggest driver of price movement though especially amongst holders of the myriad of altcoins.
Apparently there's nearly 2,000 different cryptocurrencies today. Those who purchase new ones to the market at an IC0 at a discount to what its opening price will be make plenty by flogging theirs for a quick profit.
Bitcoin - and virtually every other coin - is experiencing another pummelling today. Bitcoin touched its 2018 low earlier and Litecoin slipped below $100. Bitcoin reached an all-time high of $19,300 in December 2017, and is currently $6,500.
Someone got burnt.Quote:
Originally Posted by Organ Morgan.
No shit, poor people. I still think its a safe long term storage if that's your thing and at this price if you got the nerve to hold will bounce back.Quote:
Originally Posted by Wales-Bales
Bitcoin is king, was and always will be, when it moves so do all the others.
Nobody wins or loses until they sell, until then it's nominal gains and nominal losses.
I heard a whisper from a super secret source that decisions made on the weekend of July 21-22 next will take all the wind out of what's left in the crypto space.
We'll see. It existed in a market long before it became main stream and it'll continue to thrive in those spaces.Quote:
Originally Posted by Organ Morgan.
Surely the people who sold at $19,300 were winners? And those who bought are left holding the baby. It sounds a bit like a type of Ponzi scheme to me.Quote:
Originally Posted by Organ Morgan.
Governments could have and can at any time of their choosing wreck sentiment in cryptocurrencies by scaring people away. They wouldn't need to introduce new legislation to do so either.Quote:
Originally Posted by OurManFlint II
Bitcoin reached a new 2018 low today. It and virtually every other coin has dived in price since the weekend. The one I follow is DigixDAO because it's backed by gold. It reached an all-time high of $582 on February 28th and today just over 100 days later stands at $111. True believers in any coin and the technology that back them are rejoicing at the opportunity to purchase more at bargain prices, while non-believers scurry to the exits.
Inevitable really.
The vast majority of people buying it (and hence the vast majority of its value) is for investment purposes (i.e.nthey are only buying it because it is going up) unless people actually start using it as a currency then it is going to be in danger of the bubble bursting
Bitcoin's up over 5% thus far today... is this a dead cat bounce or the beginning of a sustained rally?
:sherlock:
speculation, opinion and quite Shirley poppycock.Quote:
Originally Posted by Rjk
Another bad day for Bitcoin and for virtually every other cryptocurrency. Currently it's down 8% on the day at $6,100 and in danger of sparking a bigger sell off if it dips below $6k.
Bitcoin after a brief rally when it slipped below $6,000 last Sunday is again approaching its 2018 low. It was $2,600 on this date in 2017, reached almost $20,000 last December and is now mired in a bear market.
I'm glad I bought in at $12,000, and not $20,000. Now I've only lost 1/2 of my money, instead of over 2/3 :thumbup: