Bitcoin Forum

Cryptocurrency analysts had predicted that the bitcoin price was about to break away from its $6,550 peg, and those predictions came true early Thursday morning. Unfortunately for investors, though, this movement did not occur to the upside.

After briefly making a push toward $6,700 earlier in the week, the bitcoin price was holding steady between $6,550 and $6,600 leading into Thursday morning. Shortly before 1:00 UTC, however, BTC/USD took a steep downward turn, plunging from $6,594 to $6,252 in just 35 minutes. As of the time of writing, the flagship cryptocurrency was priced at $6,288 on Bitfinex, representing a daily decline of about five percent.

https://www.ccn.com/newsflash-bitcoin-price-drops-380-ethereum-ripple-xrp-plunge-9/

It is incredible to look at the charts, there was a massive drop in all the market of cryptocurrencies in a matter of minutes, almost all the market is red, I just hope that this is not the start of another bear market because the market of cryptocurrencies is already very weak and I do not want to imagine what another bear market could do to it in the short term.

Yes, the price of cryptocurrency fell today significantly. According to CoinMarketCap, the price of Bitcoin is now $ 6,329, and ethereum is $ 206. And what happened again, that cryptocurrency so dropped? We expect growth, and it falls. We will watch the news, the reason should be. Or is it not to write that the price of cryptocurrency is in place?

I just saw the news about Ripple and Bitcoin’s major drop today; blood in the streets as they say. However, I think this is just the final shake out before we start to see some upward movement.

These constant updates on price drops are really frustrating and tiring to be quite honest. I'm certain that For once, the public really wants to see an update about a bullish trend, and I sincerely hope that it is pretty soon. I don't know how much more sad news that the public can get before the last straw gets broken.

I am sure that we will see growth in the near future. Everyone just says that the market will fall, an unknown situation with the  Tether. Now in this market is a very bad situation and many are afraid and are beginning to withdraw money, this is the first sign of a reversal.

A few hundred either way is not a major movement in price for bitcoin, perhaps for something else but bitcoin is notoriously volatile so this is actually quite good. Staying within a few hundred of $6500 means it is now a stable currency

What caused worry at the time this happened was not the magnitude of the movement, we have seen bitcoin moving in one direction or the other in that way many times, what left people scratching their heads was the speed at which this happened, it took bitcoin and almost all the market just a few minutes to crash that much and that is why people were worried.