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Value pratically halved in a day, but ...

highspeed

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There are many cryptocurrencies today, but the best known and most used is definitely Bitcoin.
Well, looking at a graph, I personally see that:
On March 11th, the BTC / $ ratio was: 7938
But exactly the next day (March 12) it dropped to 4857
Practically almost half!
An oscillation that many say perhaps inherent in the coronavirus issue, while others say, for different reasons!
You see, I am at my first approaches with cryptocurrencies. But could someone clarify my ideas better, about?
Now I know that each of these has oscillations also in short times, but even halved in 24 hours ...
Thank you.
 
That's just how most investments work - sometimes it's up, other times it's down. One factor that caused BTC to slump was how a Chinese scam project liquidated a huge amount of Bitcoin several weeks ago.
 
That's just how most investments work - sometimes it's up, other times it's down. One factor that caused BTC to slump was how a Chinese scam project liquidated a huge amount of Bitcoin several weeks ago.
Indeed. Already another user here told me about this. But this, at least two weeks ago.
However the factors, as far as I know, can be very unstable.
But in a single day, a drop of almost 50% .. !!
It looks really strange!
 
Indeed. Already another user here told me about this. But this, at least two weeks ago.
However the factors, as far as I know, can be very unstable.
But in a single day, a drop of almost 50% .. !!
It looks really strange!

You just don't know how Bitcoin price in its early days move like crazy. On day one it can drop 30%, the next day up 120%, and the day after that drop again 60%. It's normal for bitcoin, especially considering the world situation with this virus nowadays.
 
Also a few days before the fall of BTC price, it reached the peak price of $10K in USD. These peak round numbers tend to cause large drops in price, because investors see it as time to claim their profits. This isn't crypto-specific, that's how stock market works.
 
Well, now I start to understand better all the oscillations of Bitcoins, as well as of every cryptocurrency.
But in recent times, many are "pointing the finger" on the coronavirus effect.
Obviously it has a certain influence.
 
Yeah that's why love all the cryptocurrencies mostly the Bitcoin because the value fluctuate every often , it's possible to make profits from Bitcoin if you have patience and keep an eye on Bitcoin price every now and then.
 
Corona crisis is the reason to decrease the Bitcoin value below 5000$ but I think Bitcoin will rises again gradually and reach morethan 10000$
You see.
There is a "bet" that the Bitcoin, through these two words "DIGITAL GOLD" (which I have not yet dealt with), could reach the value of $ 50,000 !!
Sorry but, in my opinion, currently I believe it is a something like a fake news!
What do you think about it?
 
The amount of overall BTC is limited, and many parties around the world have their interest in crypto, and Bitcoin specifically. This will generate the demand higher and higher, while fiat money is subject to loosing from it's value due to inflation. These conditions all point to the price of BTC is going to go up and up on the long run. Just check the historical data, while there are large falls in BTC price, overall it is going up.
 
You see.
There is a "bet" that the Bitcoin, through these two words "DIGITAL GOLD" (which I have not yet dealt with), could reach the value of $ 50,000 !!
Sorry but, in my opinion, currently I believe it is a something like a fake news!
What do you think about it?
I don't believe that may be that is fake news I didn't think any cryptocurrency overcome Bitcoin
I didn't believe Another crytocurrency could reach 50000$
 
You see.
There is a "bet" that the Bitcoin, through these two words "DIGITAL GOLD" (which I have not yet dealt with), could reach the value of $ 50,000 !!
Sorry but, in my opinion, currently I believe it is a something like a fake news!
What do you think about it?
$50000 is a way too much in my opinion. But still it can reach like $25000 in around a year maybe, perhaps after the Bitcoin halving.
 
I don't believe that may be that is fake news I didn't think any cryptocurrency overcome Bitcoin
I didn't believe Another crytocurrency could reach 50000$
I guess I haven't been very clear, then sorry my friend.
I meant, the bet is that Bitcoin could reach a value of $ 50,000
While DIGITAL GOLD are two "code words" (at least for me) which could explain the reason. But I don't know how they relate to Bitcoin.
Thank you.
 
$50000 is a way too much in my opinion. But still it can reach like $25000 in around a year maybe, perhaps after the Bitcoin halving.
I state: I am not very experienced in cryptocurrencies yet.
But from what I observed yesterday in a graph, it would seem that the historical maximum reached by Bitcoin, is around $ 18,000, in the year 2018.
And then to me seems excessive that it could reach $ 50,000.
 
I state: I am not very experienced in cryptocurrencies yet.
But from what I observed yesterday in a graph, it would seem that the historical maximum reached by Bitcoin, is around $ 18,000, in the year 2018.
And then to me seems excessive that it could reach $ 50,000.
No i remember it reached like $25000 in december 2017 , only for few hours I guess. People who sold their btc that time are in great luck though.
 
I guess I haven't been very clear, then sorry my friend.
I meant, the bet is that Bitcoin could reach a value of $ 50,000
While DIGITAL GOLD are two "code words" (at least for me) which could explain the reason. But I don't know how they relate to Bitcoin.
Thank you.
Sorry bro I have some mistakes now I understand
Value of Bitcoin will rises again but I don't believe they reach 50000$
 
The amount of overall BTC is limited, and many parties around the world have their interest in crypto, and Bitcoin specifically. This will generate the demand higher and higher, while fiat money is subject to loosing from it's value due to inflation. These conditions all point to the price of BTC is going to go up and up on the long run. Just check the historical data, while there are large falls in BTC price, overall it is going up.
Yes, how to say, almost at the end, the cryptocurrency will have superiority towards every world currency.
But now, I say, predicting an increase up to $ 50,000, well, it seems to me definitely excessive.
Greetings.
 
Also a few days before the fall of BTC price, it reached the peak price of $10K in USD. These peak round numbers tend to cause large drops in price, because investors see it as time to claim their profits. This isn't crypto-specific, that's how stock market works.
Yeah! This fall and rise isn't just about Bitcoin other investments behave same it just that Butcoin own happens too frequent and sometimes at a very ridiculous pace. I'm wondering if this trend will ever cease.
 

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