Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#1

Post by mutteraloo » Fri, Dec 22, 2017, 4:49 AM UTC

Bitcoin plunges again, now down more than 28% since Sunday’s all-time high
marketwatch.com

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#2

Post by ericbowman » Fri, Dec 22, 2017, 6:13 AM UTC

It's amazing watching the mainstream (sites like MarketWatch/Bloomberg) try to make sense of Bitcoin and other cryptocurrencies. I spent some of my career in finance and a market move of double-digit percent in anything apart from exotic stuff like peakload power futures is unheard of.

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#3

Post by bdcravens » Fri, Dec 22, 2017, 6:23 AM UTC

It's worth noting Bitcoin Cash had a similar plunge, down about 33%

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#4

Post by juicyfroot » Fri, Dec 22, 2017, 6:46 AM UTC

Bitcoin Cash is the real Bitcoin

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#5

Post by sAbakumoff » Fri, Dec 22, 2017, 6:47 AM UTC

All the altcoins plunged as well, its a great time to buy any of them.

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#6

Post by Bombthecat » Fri, Dec 22, 2017, 7:02 AM UTC

bdcravens wrote: post #3

It's worth noting Bitcoin Cash had a similar plunge, down about 33%

Also worth noting: none of the coins have a real business partnerships. only announcements.

Because of the announcements all the prices inflated. (Bitcoin is in most cases the entry to exchange to other currencies)

After those announcements (sometimes announcements of announcements) didn't deliver... well..

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#7

Post by simonblack » Fri, Dec 22, 2017, 7:38 AM UTC

But .. but ... bu .. "This time it's different!"

Yes, yes. Of course it is.

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#8

Post by dylansavage » Fri, Dec 22, 2017, 11:16 AM UTC

I for one blame Long Island Iced Tea

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#9

Post by jononor » Sat, Dec 23, 2017, 12:04 AM UTC

sAbakumoff wrote: post #5

All the altcoins plunged as well, its a great time to buy any of them.

I had a hypothesis that altcoins would go up when Bitcoin weakens. Due to people moving their money there instead of holding BTC. But seems everyone sells off to fiat? Or something else keeps the prices strongly linked? At least for these quick drops

Re: Bitcoin plunges again, now down more than 28% since Sunday’s all-time high

#10

Post by isaiahg » Sat, Dec 23, 2017, 3:02 AM UTC

jononor wrote: post #9

sAbakumoff wrote: post #5

All the altcoins plunged as well, its a great time to buy any of them.

I had a hypothesis that altcoins would go up when Bitcoin weakens. Due to people moving their money there instead of holding BTC. But seems everyone sells off to fiat? Or something else keeps the prices strongly linked? At least for these quick drops

I believe the prices are linked because you still have to cash out into Bitcoin first before anything else. Sometimes you can in ethereum but not always. If we can start buying with. Altcoins are worth Bitcoin. So it makes sense they follow each other. What we need is more pairs to buy altcoins from other than Bitcoin.