What's going on with the price of bitcoin? Down to $4,447 now

in bitcoin •  26 days ago

Now I'm just confused about the price of bitcoin. I know it was going down a little bit, but now it's down to $4,447????? How did that happen? Now it's gone down by 9.19% in the last 24 hours. I'm not sure if there's some type of news that caused this, but this is just crazy. Now we'll see what happens and if the price is going to be able to recover.

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There are lots of theories. Some say it is decreased transactions, decreased optimism, there is confusion about the bitcoin cash hard fork, tether/bitfinex is being investigated. Maybe there is something on the technical side too, but I don't pay much attn to that. Could be seasonal things like christmas and taxes too. Lots of fud too, and I'd rather not catch a falling knife either.

Also stocks are taking a hit too, especially tech. Lots of wealth disapeared, about a trillion bucks, from just 5 tech companies. So perhaps some of the selloff of crypto are people buying stocks on the cheap, or alternatively some who bought on margin may had to sell crypto to pay back the broker-or possibly others doing whatever they do with options.

On the plus side, some faucets are starting to pay better.

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Good points. There are conspiracy theories out there that markets a being manipulated by big players as they get ready to enter the market. I'd lean more towards the ugly Bitcoin Cash fork as the primary cause.

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Transactions are on the rise.
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