So What happened to Bitcoin Today?

in #bitcoin3 years ago

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has it taken a downward path? did it climb too fast? is this a correction or a change in trend?

The price may simply be consolidating after a period of intense growth, with over-the-counter trader Charlie Shrem reporting that he believes this to be the case.
Shrem pointed to bitcoin's long-term value projections as evidence the market isn't "satisfied" even with the current price observed today. (source: coindesk.com)

My confidence in Bitcoin is not shaken at all, this consolidation will build steam for the next push. Whatever happens with Bitcoin's price, always make sure you have at least 10 Bitcoins stashed away.

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yep, that's right. its just retracing atm and will push up to $3500 by the end of june.

What else can you see in the future?

August, September might see a huge sway in favor of the btc so its looking bullish. In my own point of view, even if i buy btc's worth $10k or $20k that will still be a very good investment as i expect btc prices to shoot up uncontrollably perhaps hundreds of times from what it is valued right now. In 2009 i was offered 50k pre-mined btc's for $50 and i turned it down sighting it as a hacker scam. Had i listened to the guy and bought those btc's for 50 bucks it would have been a totally different story today. lolz

Ug..u have a story like mine..lol

Oh it gets even worse from that point. Lots more btc's lost and wasted.

isnt that a bit too fast? It should dip to $1450 first..

It might seem a bit too fast but if i based it on certain fundamentals i've been gathering $3500 seems legit. but i could be wrong so don't just quit your day job yet. lol, btc will be worth wayyy more than that anyways in the near future.

Why do you think it will be 3500 dollar by the end of june?

Bitfinex started to resume fiat withdrawals (for requests of $50,000 or greater) earlier today, and it should not be viewed as coincidence the price of Bitcoin fell as a result of it.

Speculators were willing to pay risk premiums in the form of ever higher Bitcoin prices (much like when Mt GOX was having issues with fiat transfers), just to move it off Bitfinex to other exchanges without liquidity issues.

Now that larger withdrawals of $50,000 or greater are being processed, demand is subsiding and risk premiums are no longer being paid. Consequently, the Bitcoin bubble should recede to more "normal " levels.

Plausible. More correlating data would help support the Bitfinex angle.

Although, the pullback has already bounced back as I am writing this.

10 BTC? Yeah.... who want's to help me out with that? lol

upvoted
@shayne

lol.....maybe 0.25 BTC is realistic ?

Yeah, I am still working my way to 1 BTC...

Hi My Opinion is that the central Banks will use the cyber attac in Great Britain will be used to criminalize the Use of Bitcoin to bring it down so I think that next week we may will see a big downmove in Bitcoin

wait, you nailed it, just 1 min before damn :)

That, Kinda Makes Sense :)

I think a very real problem with crypto is the danger of false flag attacks to change public perception of btc, i believe there are many more of these attacks en route

I do agree at the present time, but you should notice that some of these corrections frighten people in a way that make another corrective wave. TY!

I believe we will see $2,000 by end of month.
Thanks for sharing and Steem on!

That seems probable, but thats too much of a stretch from $930 to current levels, without s significant correction. I hope there is a time-wise correction. That would be healthy.

I agree .. it seems like it might be starting to happen soon. The rest of this month will be very interesting to say the least.

Yes.. and I have an eye on ethereum too..;)

And in other news. Just got another Apmex order in today for us old fashioned farts that prefer to hold actual REAL wealth in our hands. WARNING: TULIPS!

Are you JoeyD on mumble?

No-one nailed it. The reason bitcoin dropped today is the massive ransomware bitcoin hack that is everywhere.

that could be the case ! shakes the confidence completely.

Only for sheeple!
Criminals asking for gold as ransom does not make gold inherently criminal.

Agreed fully.

No doubt it will raise back and also possibilities of reaching 10,000$ in upcoming years according to trading experts. It's always good to hold a Bitcoin with you.

Hey Bro,
Good Stuff!
Follow me? https://steemit.com/@dnonomos
Just another BitCoin Collector.
Cheers! Upvoted your articles!

I was wondering also whether the Ransomeware attack yesterday lowered the price. As we know that the establishment will try and say it's bitcoins fault that things like this can happen. Just a thought.

On the other hand, if Bitcoin price goes down, its an opportunity to buy. :)

Simple consolidation period. The steam is ever so strong due to rally of China, Japan, India due to their currency devaluation. Let's those short term guys bail out while they are injecting more momentum to its unstoppable move.

No, there's an event associated with the drop.

As always there will always be consolidation after a big upsurge... and yes I am with you in saying that Bitcoin is here to stay for the long term. So just keep whatever amount you can... I am new here at steemit, so, to all steemians please follow me @arnel and let us help each other provide value in this platform.

Temporary correction. Will start rising again soon I think.

looks like it already started. :D

I think we will see a drawback to around 1450 dollars and then around 22 of may we will start seeing a rebound again.

What brand of crystal ball do you use?

Clif high
let's see if his Wodo holds up ;)

With explosive growth there will be profit taking. No investment continues in a linear path. I expect BTC to regain momentum and reach higher highs and higher lows. Too bad my wife talked me out of buying at .04

we have seen worst, but it always bounce back like as if to say "this aint my final form:..lol..and at this point we should not be surprised about stuff like this #BitCoinAllTheWayUp

Agreed, good call... But perhaps you will want to trade BTC for some nice heavy .9999 fine silver coins? I did ! on silver.com easy clicks with coinbase transfer. free the money
just sayin, sell high buy low. RG

Bitcoin needed a pullback, not healthy to go straight up. Not enough of a pullback though IMHO.

Clif High stated a pullback as it approaches 1900, all time high for gold I think. Then it would be a race to 2300 between gold and Bitcoin. By Feb 2018 BTC COULD BE AS HIGH AS 13000 per Clif! Keep buying BTC and silver, because we're headed for a major market correction!

Were you looking to buy on the pullback?

I think a lot of people were of the same mind and some were content with the pullback that occurred.

I think the pullback was a start, and I don't think it's over yet. Regardless I buy once a week and the fiat price isn't a factor.

Buying regularly takes great discipline: good for you.

That kind of discipline evades me and I am still waiting for the next big pullback.

Where the hell should i get 10 BTC :'D

Decrease and increase is normal, :) time to buy

Consolidation is a good thing, assets going parabolic is no good.

I agree! I'm in to...in fact, the down was a great time to shift around some leverage and buy more bitcoin!

Following and voted!! You are awesome!!!

$163 for this post? {Bemused expression crsses face}.....{shakes head in disbelief}

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