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Title: Crypto's getting pummelled today... Post by: jbrock11 on January 08, 2014, 01:01:15 AM Any reason why? Hard to believe it's just random volatility.
Top 45 are in the red. coinmarketcap.com (http://coinmarketcap.com) Notables - Bitcoin: -15% Litecoin: - 22% Peercoin: -21% Title: Re: Crypto's getting pummelled today... Post by: cryptozark on January 08, 2014, 02:13:40 AM The most likely reason in my opinion is that TaoBao (the chinese Ebay) is blocking anything related to Crypto. Also, there's a rumor that the FBI is going to dump their seized Silk Road assets.
http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/ However, I think many people believe that is just shoddy reporting and not true at all. It could still incite some panic though. Title: Re: Crypto's getting pummelled today... Post by: arepo on January 08, 2014, 12:09:47 PM Any reason why? Hard to believe it's just random volatility. The most likely reason in my opinion is that TaoBao (the chinese Ebay) is blocking anything related to Crypto. Also, there's a rumor that the FBI is going to dump their seized Silk Road assets. http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/ However, I think many people believe that is just shoddy reporting and not true at all. It could still incite some panic though. the news is only half the story. a few comments on the price environment: 1) it may be hard to believe, but the volatility we are seeing now is still related to the December crash. it takes some time for the market to work through the oscillations that such a huge disturbance causes. 2) the volatility in the last 10 or so days is also marking the end of a nearly 20-day uptrend, and this is a normal market correction (i know it seems steep but remember we were at $600 around three weeks ago!) --arepo Title: Re: Crypto's getting pummelled today... Post by: rebuilder on January 08, 2014, 12:19:40 PM The price went up about 20% in two days. It'd be more surprising if that trend had continued.
Title: Re: Crypto's getting pummelled today... Post by: dg2010 on January 08, 2014, 03:36:00 PM The price went up about 20% in two days. It'd be more surprising if that trend had continued. What he said. Bicoin is volatile. Title: Re: Crypto's getting pummelled today... Post by: humanitee on January 08, 2014, 04:15:59 PM The price went up about 20% in two days. It'd be more surprising if that trend had continued. What he said. Bicoin is volatile. Also, pretty much all cryptos follow bitcoin's movement. On huge green days, they all go up. On the last rally I think there was a point where the top 45 or so were all in the green. Title: Re: Crypto's getting pummelled today... Post by: Ibian on January 08, 2014, 06:10:23 PM The price went up about 20% in two days. It'd be more surprising if that trend had continued. What he said. Bicoin is volatile. Also, pretty much all cryptos follow bitcoin's movement. On huge green days, they all go up. On the last rally I think there was a point where the top 45 or so were all in the green. |