[2020-03-12] Bitcoin is also having a very, very bad day

[alani123]

Bitcoin is going through a remarkably bad day. It turns out all assets are having a rough month — including cryptocurrencies. A couple of hours ago, the average price of BTC dropped by 15% in just 20 minutes.

Mainstream technology news outlet Techcrunch is also now reporting on bitcoin's crash. The news are mainstream and yet there seem to be no signs of recovery. From the time of the article's publication, prices crashed even further. Is there any saving for bitcoin's price levels?

https://techcrunch.com/2020/03/12/bitcoin-is-also-having-a-very-very-bad-day/

[vickersja]

Good writeup.  Question from a mining perspective…  Assuming difficulty will go down with the price tanking.  Is this a good time to fire the miners up? 

How fast does it take for lower difficulty to be reflected?


https://btc.com/stats/diff

[figmentofmyass]

Good writeup.  Question from a mining perspective…  Assuming difficulty will go down with the price tanking.  Is this a good time to fire the miners up? 

How fast does it take for lower difficulty to be reflected?

https://btc.com/stats/diff

take a look at the november 2018 drop to get an idea.

despite the coronavirus fear and production delays, difficulty still rose 6.88% last period and based on current block times is slated to rise 5.69% on the next adjustment. with 11 days left, it probably depends on whether we see a swift recovery in price or not. if price keeps sliding through the $5ks and into the $4ks, things will look somewhat dire based on most investment metrics. then we may see a capitulation in mining investment similar to what we already saw happen to the price.

[Harlot]

Good writeup.  Question from a mining perspective…  Assuming difficulty will go down with the price tanking.  Is this a good time to fire the miners up? 

How fast does it take for lower difficulty to be reflected?


https://btc.com/stats/diff

If Bitcoin's mining difficulty would ever go down it won't be because of Bitcoin's price crashing but because of the mining farms being forced to shutdown which already have taken place in a lot of Chinese Bitcoin miners because of their situation with the COVID 19 but looking at both the difficulty and hashrate Bitcoin has currently you will see that it's not yet falling but maybe if miners from other countries will be affected and their operations will also shutdown I think this will be the start where both will fall down gradually.

[stomachgrowls]

Bitcoin is going through a remarkably bad day. It turns out all assets are having a rough month — including cryptocurrencies. A couple of hours ago, the average price of BTC dropped by 15% in just 20 minutes.

Mainstream technology news outlet Techcrunch is also now reporting on bitcoin's crash. The news are mainstream and yet there seem to be no signs of recovery. From the time of the article's publication, prices crashed even further. Is there any saving for bitcoin's price levels?

https://techcrunch.com/2020/03/12/bitcoin-is-also-having-a-very-very-bad-day/

No one can point out on when would be the recovery and its no surprise that price can shoot up and sunk down on least expected.We are on a very bad condition not only applied on crypto but also on other traditional markets as well. Everything is on red but we cant point out precisely if this one been caused by Covid or not.Answering on saving bitcoin price levels? It isnt really need yet recovery would happen and
its an inevitable thing.

Good writeup.  Question from a mining perspective…  Assuming difficulty will go down with the price tanking.  Is this a good time to fire the miners up? 

How fast does it take for lower difficulty to be reflected?

I dont really consider on correlating mining difficulty with current market price yet you can observe out their difference clearly.

[leoagro]

All the worst days are replaced by good ones. It's always been that way .

[Kounter]

The cryptoeconomics are being cleared of weak projects

[senin]

Bitcoin is going through a remarkably bad day. It turns out all assets are having a rough month — including cryptocurrencies. A couple of hours ago, the average price of BTC dropped by 15% in just 20 minutes.

Mainstream technology news outlet Techcrunch is also now reporting on bitcoin's crash. The news are mainstream and yet there seem to be no signs of recovery. From the time of the article's publication, prices crashed even further. Is there any saving for bitcoin's price levels?

https://techcrunch.com/2020/03/12/bitcoin-is-also-having-a-very-very-bad-day/

As practice has shown, bitcoin in those days fell in price mainly because people did not have enough cash to prepare for quarantine during the spread of coronavirus, and bitcoin was not so liquid that they could directly pay for goods. The offer for sale increased sharply and the price of bitcoin went down sharply. However, since then, bitcoin has been gradually recovering in price and has already risen by almost two thousand dollars. It seems that everything will depend on whether people have enough free money to survive the still ongoing quarantine.

[yohananaomi]

All the worst days are replaced by good ones. It's always been that way .

true, the transition of time always revolves at any time and it has become a routine of life. Likewise with Bitcoin, at this time it may be falling but there is a time that it will be able to rise again.
it is a trust that must be held for every who follows crypto, bitcoin will be able to be lifted back in time.

[Cityhunter123]

It seems that the bad days are over and the price again pleases us.