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RE: Bitcoin is sliding, again. What's causing the drop?
I think putting a value on bitcoin is like putting a value on gold when we found gold for the first time. Now, let's not forget that until late last year there was no futures on bitcoin. Now, unfortunately, there are futures on listed on the CME. The means Wall Street - the establishment who is so scared and worried by cryptocurrencies - can now short bitcoin in large volumes in a way they are used to. All, we need is a short squeeze to teach them a lesson :-) and they will think twice next time they short. Time will tell us if bitcoin is a big bubble or not. My two cents, crypto currency will not be stopped but there will be only a few winners and may losers. So, don't put all your eggs in the same basket. Diversify your portfolio.
Wall Street is the whole reason Bitcoin is even anywhere near where it is now though. The market cap and trading volumes are so large that basically only large investment firms and billionaires have been affecting the price for a while now. They're just competing against each other, and any non-rich crypto-holders are just along for the ride.
Diversifying is definitely a great idea though. Just remember that buy BTC and Ethereum and Gridcoin is not diversifying, since all crypto prices are tied together. To really diversify, invest in a stock index fund. Maybe some real estate.