What is happening to Bitcoin?
I woke up this morning and holy crap, bitcoin is down to $12.5K from almost $20K like last week. Is it a coordinated dump in the making? Does the adding of BCH to Coinbase overnight too much of a shocker? Was there insider knowledge where people in the same orbit of Litecoin founder Charlie Lee knew to sell for a fortune right before of the plunge of all coins this week? Will we look back in a month and be right back to what we were considering normal? So many questions. Us normal non-elites can't really be blamed for jumping to conspiracy theories. One thing is for sure, Crypto hodlers everywhere will be watching the markets like hawks!
I only mention Charlie Lee, not because I have anything against him, but because he very recently made a public post about selling off all of his Litecoin stash.
https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/
The details are fuzzy. $330 seems like a great time to cash out especially if you've been hodling since LTC were mere pennies; But curiously a week later BCH gets added to Coinbase (where he works) and BTC loses value by almost 50% pulling the other coins down with it. LTC goes from $330 to a recent $220. The timing is just suspicious to us who are not in the know. Just my thoughts.
This is a healthy market correction that was long due. We need this to go gain higher grounds. If you cant take the BTC action, have a look at Diamond coins. The price isnt that volatile. Best regards Dr DMD.
I do feel this this a bit of maket correction. I just feel like the timing of it all was either purely coincidental, or coordinated and monetized upon ahead of time by larger actors. The game is played. Hopefully its a temporary dip.
It's likely a temporary dip, though I've posted about this too, holding the same fear as you about the price dipping, especially if we want to use Bitcoin, Litecoin etc. as a currency.
I think BCH may have shaken the bedrock of BTC a bit by being added to Coinbase. Those BTC fees are paralyzing. New comers see the Bitcoin branding on BCH and think it's golden. Maybe it is. It sure is soaking up those potential BTC dollars.
I just followed you cause your posts seems to be informative post you can find similar crypto news on my steemit that might be productive for you too...
https://steemit.com/@reewy👍👍
Will do. I'm following you.