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[Kambas]

So what happened exactly and why did Bitcoin drop in value?

The lack of certainty about the Chinese banning exchanges has led to more traders selling off (dumping) Bitcoin for fiat currencies. China currently has the largest Bitcoin trading volume as they do most of the mining.

A large amount of bankers have criticized Bitcoin, saying it has "no value" which led to a negative view of Bitcoin from the general public.
Ironically fiat currency also has no value, on contrary these are debt notes and coins backed by NOTHING but they won't mention that when they attacking their competitor (BTC).
Chase bank CEO called Bitcoin a "fraud" which led to a lot of negative coverage on the news and having a impact on the price.
Seems the banks feel threatened by cryptocurrencies because they cannot control it so this is a classic example of how competition behaves and tries to drag down their opponent.

The slide will most likely continue until China officially announces it's next moves.

Regardless of this negativity, Blockchain is arguably the technology of the future and when the dust settles again things should go back to normal and the price will gradually rise again. This is never certain as crypto is still considered very volatile but one has to consider the market that has emerged and will continue to support trades.

Perhaps this is again a good time to invest into Bitcoin before it climbs back up the chart.

 

[Abdul hanan]

Yes i think it will rise again. It happens with bitcoin it rise and fall. I think now it will rise again and hit $4500+.It may fall a bit more but it will rise again.

 

[Blue Koala]

Oh yes it will come back up again. Bitcoin has the highest capitalization amongst the 700 or 800 other cryptos out there. Still far from becoming a bubble.

 

[Milan037]

in last 1 year crypto world got a totally new dimension. I think it's unstoppable. Only question is how aspiration have real word masters of finance Rothschilds, Morgans, Rockefellers and other big owner of world capital. Only question is do they have control it, if they can, bitcoin and other crypto will be rise to the sky, if not they simply destroyed, like other

 

[tusziget]

So what happened exactly and why did Bitcoin drop in value?

The lack of certainty about the Chinese banning exchanges has led to more traders selling off (dumping) Bitcoin for fiat currencies. China currently has the largest Bitcoin trading volume as they do most of the mining.

A large amount of bankers have criticized Bitcoin, saying it has "no value" which led to a negative view of Bitcoin from the general public.
Ironically fiat currency also has no value, on contrary these are debt notes and coins backed by NOTHING but they won't mention that when they attacking their competitor (BTC).
Chase bank CEO called Bitcoin a "fraud" which led to a lot of negative coverage on the news and having a impact on the price.
Seems the banks feel threatened by cryptocurrencies because they cannot control it so this is a classic example of how competition behaves and tries to drag down their opponent.

The slide will most likely continue until China officially announces it's next moves.

Regardless of this negativity, Blockchain is arguably the technology of the future and when the dust settles again things should go back to normal and the price will gradually rise again. This is never certain as crypto is still considered very volatile but one has to consider the market that has emerged and will continue to support trades.

Perhaps this is again a good time to invest into Bitcoin before it climbs back up the chart.

Yes,it might be a good idea,to invest now in Bitcoin,when his price has dropped a little bit.I think it will rise again...but who knows ...

 

[baguioboy]

So what happened exactly and why did Bitcoin drop in value?

The lack of certainty about the Chinese banning exchanges has led to more traders selling off (dumping) Bitcoin for fiat currencies. China currently has the largest Bitcoin trading volume as they do most of the mining.

A large amount of bankers have criticized Bitcoin, saying it has "no value" which led to a negative view of Bitcoin from the general public.
Ironically fiat currency also has no value, on contrary these are debt notes and coins backed by NOTHING but they won't mention that when they attacking their competitor (BTC).
Chase bank CEO called Bitcoin a "fraud" which led to a lot of negative coverage on the news and having a impact on the price.
Seems the banks feel threatened by cryptocurrencies because they cannot control it so this is a classic example of how competition behaves and tries to drag down their opponent.

The slide will most likely continue until China officially announces it's next moves.

Regardless of this negativity, Blockchain is arguably the technology of the future and when the dust settles again things should go back to normal and the price will gradually rise again. This is never certain as crypto is still considered very volatile but one has to consider the market that has emerged and will continue to support trades.

Perhaps this is again a good time to invest into Bitcoin before it climbs back up the chart.

Exactly this is a good opportunity to invest in Bitcoin. If the business world continues to support Bitcoin, it will just be of normal effect to get rise or down if other countries like China and its allies turn Bitcoin down. In this case, the monetary of China have no longer a chance to overpower dollar if this is their plan in the future. Business as usual, this is the effect of modern technology.

 

[castbound castboundoski]

As I mentioned in many posts before its really unknown when BTC price will drop. Things like China banning bitcoin happen and it highly impacts the price.Is it gonna rise again? I think it may rise again but maybe not soon enough.Too many people from China were involved into the bitcoin business.

 

[komrad]

I very confident that Bitcoin will rise again. just wait and see..

 

[Milan037]

China have some influence but their part of bitcoin trading is only 10-15%, so its not a major parameter. All of this rumor and movement is just another way to main players make another speculation wave and earn a lot of money. Bitcoin and the other crypto never have a stable value it against their nature.

 

[overcast]

I think as long as the black money is poured into the market. There is going to be up and down in the cryptocurrency. So one of the things thaat needs to be taken into consideration of the upside value and going down.

This month that the value is going down. Who knows they may come back again. I may surely be buying once the 1 bitcoin goes 100$ or under. I doubt that would go this down. But yeah i may be ready to work with what I can. And that seems to be something that needs to be adjusting as well.

 

[robking03]

For sure it will.
Compared to the value of bitcoin last yr. It will definitely rise again.

 

[yishak1412]

Yeah I'm sure bitcoin will rise but its gonna be really hard without China so it might take some time.
while waiting for bitcoin to rise you could invest in Edgless to make some profit. Edgeless has risen by 110% just this week.

 

[Medowriter]

It has risen significantly, it around $6200 as at today and there are speculations of it getting to $10000 before this year runs out.

 

[tusziget]

It has risen significantly, it around $6200 as at today and there are speculations of it getting to $10000 before this year runs out.

Yes,Bitcoin is always making big surprises.Even those people,who have doubted this cryptocurrency from the start,have to acknowledge,that the Bitcoin has surpassed every expectations and his price speaks for himself.I think that Bitcoin will make some surprises in the future too.

 

[Lovely]

it quite high now as at yesterday though I have not checked today it was at $7350 and I have read it will continue to be in the increase.Those that had preserved their BTC are having a field day now.

 

[Justice]

I think that it's normal for its value to go up and down a bit. I would have never predicted that 1BTC would ever reach 6.4k euros but it has. Cryptocurrency is quite unpredictable from what I have seen.

 

[tusziget]

I think that it's normal for its value to go up and down a bit. I would have never predicted that 1BTC would ever reach 6.4k euros but it has. Cryptocurrency is quite unpredictable from what I have seen.

Yes,who already is in this Bitcoin business,know that along the time there had been so many fluctuations around the price of the cryptocurrencies.I like when after the fluctuations the price of the Bitcoins gets higher and stays there.There might be small changes,but after all,the Bitcoin is raising in value.Yes,it is unpredictable the cryptocurrency,but I like the surprises,and till now,that is what Bitcoin has provided to meleasant surprises.

 

[phanuruch]

Something tells me that bitcoin may take long before hitting the record high witnessed in 2017. But as a bitcoin trader, I would really want to see it rise again so that I can cash out some of my investment.

 

[mcjerry]

Don't mind the bankers. They are critizing btc now. They will later beg for btc.
Talking about China. I don't believe them. See for instant. They are banning crypto currency exchanges and at the same time they mine the highest bitcoin.
This is what I think they are doing. They are saving a lot of btc. Now they are condeming btc. They want the price to decrease. When they have gotten many btc enough to turn them to billionaires when the btc price increased. Now they will announce they are friendly with crypto currency, and the btc price increases. They want to become billionaires over night.
Like I always advice people to invest in bitcoin. Now or later the price will increase extremely high

 

[cryptohub123]

There will be always a increase in price of bitcoin after a drop in price. Same thing happened last month too. The price of bitcoin was at 3k USD before 2-3 months , and now it is almost stable at 10 USD. So if the price drops , the next scene would be the rise in price , it's a continuous process , patience is the key.