So is this the new norm? Look for "bad news", price crashes temporarily, and then goes back up 10-15% in a matter of hours? Seems like its been happening frequently in the last few weeks.
Yes it has, but it hasn't risen back to where it was like it used to. Volumes of transactions are very low, larger numbers of companies accept bitcoin now as payment but are actually exchanging them for currency via Bitpay or similar and actually selling the bitcoins in reality.
There's not going to be much incentive to mine them soon if their value drops to the region where a 10k rig doesn't stand a chance to break even, a lot of big ASICs wont even pay their power bills...then we'll have the rollercoaster on mining too as difficulty rises and falls.
Tough times, and they won't get better by us thinking they will.
So you're saying not to buy in....I recently bought in at 800, and sold around 720. Would you recommend waiting until Wednesday to decide?
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