[ Bitcoin ] Bitcoin FUD all around. What now?

in #bitcoin6 years ago

There was a lot of FUD going around yesterday and Bitcoin took a plunge. But why?

We had big resistance at $11750 and because we could not break it, if gave bears the opportunity to capitalize on it. We went up to $11675 on Bitstamp, but then slowly came down in the next day or so. Then when the FUD news came last night and gave every Bear a reason to sell.

2 of the big FUD news articles where Binance being hacked, but this is not true and the second was the SEC wanting all exchanges to register with them. But this is good news long term because people’s money will be more secure.

I believe we will shoot up again as soon as every bear comes to it’s senses in the next 24 hours or so.

Here are the views of Dan from The Chart Guys:

And here are the views from Tone Vays on the dump:

What do you think of the current bitcoin price?

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Here is another reason the market is down in the last 3 months because one person does not know how to liquidate Mt Gox's bitcoin. He should have sold it privately and not on exchanges. Read story here: https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/

Interesting!

Here is the view of Ivan on Tech explaining what really happened yesterday at Binance:

it's not recovering and hit closely to $9k but there is highly chance for bearish more next week.

The FUD will disappear soon and we will see blue sky again.

seems FUD is a curse

Things are looking good, I believe regulation, although it may put an overall cap on the price in the medium to long term (3 to 5 years), it will result in massive increases in btc and alt crypto prices in the short to medium term (3 months to 18 months).

I think people just need to be patient,don't panic.We have learned something from the previous collapse.I am pretty sure crypto market will be back soon.Thank's for such useful post.@upvoted and resteemed

As i expected because those people wants to destroy crypto currency. They are feeling unsecured because if crypto starts blooming then usd will face a lot of difficulties all over the world.They will lose their supremacy.That is why they are releasing this kind of FUD. But at the end crypto will win for sure.Thanks for the post.@resteemed

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however ,when btc is going down some altcoins are growing up...

You got a 2.83% upvote from @allaz courtesy of @colinbrazendale!

You got a 8.77% upvote from @luckyvotes courtesy of @colinbrazendale!

This just reiterates the fact that anything is possible in crypto. It's a reminder to not go all in, selling your house to 'get rich quick', but have an investment mindset and be in this for the long term. I reckon the current Bitcoin price is nothing to worry about, and the volatility we've seen lately is HEALTHY. Cheers Colin.

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