Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#1

Post by traviagio » Tue, Aug 25, 2015, 1:02 AM UTC

No post body was provided.

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#2

Post by T-A » Tue, Aug 25, 2015, 1:08 AM UTC

This? http://www.coindesk.com/bitcoin-price-slumps-following-bitfi...

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#3

Post by traviagio » Tue, Aug 25, 2015, 1:17 AM UTC

I am not talking about a temporary flashcrash. People used to think of Bitcoin as a safe heaven when else goes downhill. Just like gold. I don't think that's the case anymore.

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#4

Post by Kinnard » Tue, Aug 25, 2015, 2:22 AM UTC

There are too many factors to tease out what's going on at any given moment. There may be upward pressure from what's happening in equity markets and demand for bitcoin as a vehicle currency[1] to get ether, and there may be downward pressure because of a possible hard fork as well as the outage of a major exchange.

If you really knew what caused what with the bitcoin price, that'd be really special information and you'd be a very special person.

You can make your best guesses as to which forces will dominate. And you can be wrong.

These dynamics change as the scope changes.

[1] http://www.answers.com/Q/What_is_a_vehicle_currency

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#5

Post by [deleted] » Tue, Aug 25, 2015, 2:38 AM UTC

traviagio wrote: post #3

I am not talking about a temporary flashcrash. People used to think of Bitcoin as a safe heaven when else goes downhill. Just like gold. I don't think that's the case anymore.

[deleted]

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#6

Post by ant6n » Tue, Aug 25, 2015, 2:45 AM UTC

Gold was also down today.

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#7

Post by aminorex » Tue, Aug 25, 2015, 3:07 AM UTC

Andresen and Hearn are forking the blockchain. The future of bitcoin thus becomes clouded.

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#8

Post by bbcbasic » Tue, Aug 25, 2015, 3:34 AM UTC

I thought bitcoin went up on hype, down on fear. Opening up China markets, for example pushed the price up to over $1000. Then that hype died, along with MtGox and here we are.

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#9

Post by deciplex » Tue, Aug 25, 2015, 4:21 AM UTC

Perhaps we have finally found the one thing that, apparently, is not good for Bitcoin.

Re: Ask HN: It used to be that when stocks fall, Bitcoin goes up. What happened?

#10

Post by Falkon1313 » Tue, Aug 25, 2015, 5:52 AM UTC

ant6n wrote: post #6

Gold was also down today.

Silver and gold both seem to be dropping lower than they've been in years. Legend has it that when stocks go down, precious metals should go up. But what if gold, silver, and stocks were all in a bubble at once? They all kind of look bubbly by the long-term charts. Would that signify that we're finally reaching the end of the recession, or that we're beginning a new one?