Dear Bitcoin, You are driving us crazy....
Moments after Bitcoin touched $3,000 yesterday, its been stunned into free fall...falling more than $500 in the last day.
Dear Bitcoin,
It's ok. We know it's tough always reaching new heights - but you can do it. We all know the $3k mark is an impressive achievement and there is no reason to shy away from it.
Also, we know - Ethereum has taken your spotlight and this must be tough on the ego. Rest assured, there is enough room in this sandbox for everyone to place nice.
So...Dear Bitcoin, if you remember, it wasn't even two weeks ago that you took a similar plunge, but you picked yourself back up and kept on moving forward. We are all here to support you.
We all like a good drama, but this is getting a bit much. Let's work together to smooth some of these rough patches so we can make this ride a little bit more enjoyable :)
Sincerely,
You fans.
P.S...This is how you make me feel...
Etherium might have taken the spotlight but there is one main point which it cant take.
At the moment bitcoin is the standart of crypto and every other currency has to go through it to be transmuted into USD at most exchanges. Or at least in the smaller ones. Thats why at the moment being its holding a bigger vantage point.
Very well said @altcointrends. You are absolutely right and I fully agree with you. Bitcoin is very volatile and such sharp drops are very concerning. This only teaches us to play safe and not keep all our eggs in the same basket.
As the defacto "reserve" currency for AltCoins, we would expect to less volatility - However, I suspect the market is just not mature enough yet to handle major swings in volume and price.
I blame it on Asia.... we in America all went to sleep and they crashed it. #damnnoobs!