Impressive downward move of bitcoin price

in #steem • 7 years ago (edited)

Hi all,

After impressive bitcoin and other crypto currencies upwards moves we just were aware of massive correction of crypto prices.
cryptocor1.JPG
(image captured from www.plus500.lt)

Just few days ago bitcoin price was in 2750 USD area and today lowest point was at 1750 area - correction of around 1000 USD!!!
This correction is more impressive than EUR/CHF currency pair correction after SNB 1.20 EUR/CHF floor removal. It's difficult to imagine number of STOP LOSSES triggered during this period.
STEEM also drags down presently as well as all armada of cryptos.

What can it mean? In my previous blogs I write about some correlation between crypto upwards moves and USA500.IDX index upwards move. If crypto is correcting so substantially during weekend what we can expect in indexes prices after market will be open. In my opinion huge gaps are possible but weekend is not over yet and everything is possible.
So will see how things will develop further...

Best regards,
rokasltu

#money #bitcoin #trading #beyondbitcoin
7 years ago in #steem by
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     7 years ago 

    I am somewhat glad to see this correction. The rise of Bitcoin was out of control and certain issues of scalability HAVE to be addressed. By carefully analysing the recent movements, it will provide valuable information on the system and potential scalability improvements. BitCoin will rise again!

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     7 years ago 

    This is scary! But it's cool to see where the price could end up going. The markets are so hard to predict.

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     7 years ago 

    Agree. That's why presently I almost do not keep any open trades when markets are closed. Or if keep - in very low quantities.

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       7 years ago (edited)

      IMHO, the whole world's (combined) cryptomarket cap is still way to small to make a noticeable impact to the NYSE indexes. I maybe wrong, but , seriously , what is that 68 bln. market cap? Peanuts... Hence - the volatility.

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         7 years ago 

        Nice post. I was about to start a similair discussion. Though prices might seam inflated for now I don't think they will look like this 2, 3 years from now. I found this great website: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. Go to: https://www.coincheckup.com/coins/Bitcoin#analysis To see the: Bitcoin Indepth analysis

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