Why is Bitcoin and Steem Down? Nobody likes to talk about it?
Hi,
I was wondering why after a regain up to $4000, bitcoin again is down to $3500. In last weeks Chinese were said to be the cause of the down turn of the bitcoin to below $3000, but after that is had regained the $4000 mark.
After that we are having only good news about bitcoin, such as IBM's big upcoming investment in crypto, Argentina's proposed more than 250(please correct me if I am wrong) Bitcoin ATMs and also the John Mcafee's statements about Bitcoin. Everything seems to be in the favor of Bitcoin. Still the price went $500 down yesterday.
Maybe it is some of those people who like the fluctuations/volatility in the price who drive it. For example Bitconnect is the one who benefits from the fluctuations, and there are many other who would benefit from it. But yeah there can be losers as well. Anyway, I can't be sure of anything. What do you think is the reason?
Steem is quite down these days. It had regained with bitcoin up to $1.2, but today I see it is almost at $1.0. Can anybody explain it to me? Or give me a link of some good article explaining this fall?
I think Dimon made more comments and that may have weighed into it. I think it really just lost a bit of momentum with the China news and some people are hesitant now. It'll run again and as for Steem, it's the golden age to be stacking Steem Power. I literally am working 50 hours this week with intention of investing every dime I can while things are down. Good luck!
The media hype of China's news is one of the main reasons for the decline in the price of bitcoin .