[2016-08-2]Meeting between miners,core developers triggers drop in bitcoin price

[WishICanTurnBackTime]

Avid bitcoin followers might have noticed that the price of the popular digital currency has been on the downward trend lately.
On Tuesday, the cryptocurrency traded at $602.93 per bitcoin—a drop of more than $50 from last week’s price—while market capitalization also dipped to $9.55 billion.
But there’s no need to fret—yet—according to some analysts, who chalked up the price drop to the “market uncertainty” caused by the recently-held meeting between miners and bitcoin core developers.


http://calvinayre.com/2016/08/02/business/meeting-between-miners-core-developers-triggers-drop-in-bitcoin-price/

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[TraderTimm]

Next they'll be pointing to sunspots and tea leaves.

Anyone professing knowledge of a move being associated with specific events is usually lying to you. Only when actual financial events occur do market reactions even seem warranted, and even in those cases it can be debated on the severity and manner of influence.

In short, any story saying they know "A" caused "B" to happen in a market is full of shit.

[Kaneki]

that there’s a high chance the attendees will discuss matters relating to bitcoin’s block size issue as well as the digital currency’s other scalability difficulties