[2015-12-20] Bitcoin Price Tumbles 8% after Failing to Break Resistance

[CrimBit]

Bitcoin (BTC/USD) fell 8% to a 1-week low of $425 during the past 24 hours.

The steep drop is one of several big moves that have become increasingly common since bitcoin’s resurgence in late November.

Over the past week, bitcoin ran into fierce resistance near $467. If bitcoin would advance past this mark, the prospects of revisiting $500 would be more convincing. Bitcoin’s hype-filled spike to $500 in early November is believed by some to have been driven by investors flocking to a Ponzi scheme.


http://www.financemagnates.com/cryptocurrency/trading/bitcoin-price-tumbles-8-after-failing-to-break-resistance/

[Bepesand]

A drop of price of 8% is worth reporting. But it is quite normal in the price action of bitcoin. Nothing unusual.

[densuj]

I just wait. They are investing on ponzi  got scammed. And price of bitcoin going down.

[a7mos]

I do not consider this down as a problem as the price in the last 2 month is already doubled and the price movement is progressing and increasing with a firm steps