Bitcoin Forum
October 18, 2019, 12:46:56 PM *
News: Latest Bitcoin Core release: 0.18.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2016-03-08] Bitcoin Technical Analysis for 03/08/16 – The Plot Thickens  (Read 239 times)
m3
Sr. Member
****
Offline Offline

Activity: 460
Merit: 250


View Profile WWW
March 08, 2016, 01:12:53 AM
 #1

The Bitcoin market is never boring and this past week didn’t disappoint with the flash crash to $380. The price has since rebounded and Bitcoin is currently trading at $414. One of the main factors which undeniably contributed to the price slump is Bitcoin’s transaction backlog which occurred around March 3rd.

Last week the network got flooded with spam transaction, which effectively increased the fee required to confirm transactions in a timely manner. As a result, many services that accepted Bitcoin received a flood of customer complaints that their payments weren’t going through. This caused many merchants to remove Bitcoin as a payment options from their store, furthermore an article published on The Verge titled “Bitcoin’s nightmare scenario has come to pass” received an extraordinary amount of shares which also attributed to the weekend selloff.

Read More: http://themerkle.com/technicalanalysis/bitcoin-technical-analysis-for-030716/

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!