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Title: [2017-11-30] Bitcoin back to normal after selloff and services outage Post by: fanatseal2 on November 30, 2017, 08:58:55 AM Some part of the cryptocurrency trading community might have thought that $10,000 per coin is the absolute maximum Bitcoin can ever reach, and thus sold their Bitcoins lately, leading to a massive drop of the cryptocurrency price. Digital exchanges and services were not ready for such changes, and this is why the biggest and quite respected sites — Coinbase, Gemini, Bitstamp and others — stopped their work somewhere around 21:40 UTC.
In the case with Coinbase, for example, people could not enter their accounts, but the site itself worked and the team posted a link on a log that was often updated with assurances that the problem is going to be fixed soon. And in line with the...Read more BTC (https://bitnewstoday.com/news/bitcoin/bitcoin-back-to-normal-after-selloff-and-services-outage/) Title: Re: [2017-11-30] Bitcoin back to normal after selloff and services outage Post by: Gotottack on November 30, 2017, 09:12:18 AM Some part of the cryptocurrency trading community might have thought that $10,000 per coin is the absolute maximum Bitcoin can ever reach, and thus sold their Bitcoins lately, leading to a massive drop of the cryptocurrency price. Digital exchanges and services were not ready for such changes, and this is why the biggest and quite respected sites — Coinbase, Gemini, Bitstamp and others — stopped their work somewhere around 21:40 UTC. In the case with Coinbase, for example, people could not enter their accounts, but the site itself worked and the team posted a link on a log that was often updated with assurances that the problem is going to be fixed soon. And in line with the...Read more BTC (https://bitnewstoday.com/news/bitcoin/bitcoin-back-to-normal-after-selloff-and-services-outage/) This is what they call the 'psychological barrier'. I must say there are a number who really thought the $10,000 price of Bitcoin is the cap for the year 2017. Hence, traders sold their Bitcoins at such value (with a little profit perhaps) or withdrew their Bitcoins to convert it to fiat currency. What these people did not expect is that Bitcoin even reached $11,000+++. So the people who sold theirs at $10,000 lost as against those who bought the same for 10 - 30% profit on top of the selling price. This situation is telling us to keep holding onto it until all prices drops. |