Crypto Prices Tanking
Bitcoin and like almost all alt coins suffered a big dump in price during the weekend, this after having had a really bad week last week. Now I would like to know, why can a Tweet from Elon Musk tank Bitcoin's price, remember BTC has at moments had a trillion dollar market cap. Why can just talk from a billionaire make a coin like Doge go sky high? This is like Ronaldo drinking water instead of Coca Cola makes Coca Cola share prices tank. I actually don't believe any of this. Maybe I am conspiracy minded but I think all of these movements are very well thought out and not by one person, there is a whole cabal behind this.
It is not even four am here, but I just read an article from India Times, here is an excerpt:
"Bitcoin had dropped over the weekend amid a focus on Chinese mine closures and potential regulatory scrutiny. Cryptomining is big business in China, accounting for more than half of global bitcoin production."
Ok, can you see the problem here? China is limiting or completely abolishing Bitcoin mining in China, and according to this article that is why the price is tanking today. This begs a question, in a world where we know supply and demand are the factors that put a price on everything, doesn't the fact that less Bitcoin will be mined logically leads to the concept that there will be more demand than supply, thus we should be seeing prices going up.
Now doesn't this just reinforce the idea that there are forces that want Bitcoin's and other alt's prices to go down?
That is hard time for all Cryptos, hopefully after every fall will come a rise :)
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Can u tell me about the price pridiction of steem and sbd
I only wish I could, all I see is red, if we are lucky maybe there is a turn around and things will improve. I don't think we will see this soon, at least surely not this week.
Thank u soomuch
Bitcoin will rise again!
I believe Bitcoin will hit $ 30,000, we'll see in the next few days
@stefano.massari can u tell me about steem
STEEM could drop as low as $ 0.15
And again it will hit 1.5$
STEEM plunged to $ 0.19 a few hours ago