Very Clear Article about Bitcoin Situation those days...

[RewFrew]

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) - Bitcoin fell to a three-week low on Thursday as investors took profits partly in response to a bearish report from Goldman Sachs (NYSE:GS) as well as concerns about a Chinese bitcoin miner's plan to undertake a "hard fork" that will result in a split in the digital currency.

The virtual currency relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins.

Bitcoin fell as low as $2,120 on the Bitstamp on Thursday and was last down 6 percent at $2,290. On the week, the currency has fallen about 22 percent, on track for its largest weekly slide since December 2013.

On Monday, bitcoin hit a record just shy of $3,000. So far this year, bitcoin remains up 137 percent.

Sharp losses such as Thursday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.

Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said bitcoin's decline may have started on Monday when Goldman Sachs analyst Sheba Jafari said in a report, "The balance of signals are looking broadly heavy" for bitcoin.

Jafari was "wary of a near-term top ahead of $3,134, adding that investors should consider re-establishing bullish exposure between $2,330 and no lower than $1,915."

Analysts also said investors were spooked by Chinese miner Bitmain's plan to undertake a "hard fork" of bitcoin if a code upgrade on the currency is activated late this summer.

Under a "hard fork", Bitmain would create an entirely new version of the bitcoin blockchain, resulting in an entirely new bitcoin currency, separate from the original currency.

Bitmain's move was in response to proposals that attempt to solve the bitcoin network's limitations in processing millions of daily transactions. Bitcoin's network has not kept pace with its growth and is unable to process all the transactions fast enough.

"Traders are concerned with what a fork could do to their holdings and most likely now converting to fiat (government currencies) until some clarity about the scaling debate comes to light," said BitMEX's Dwyer.

[1714892218]

1714892218

[1714892218]

1714892218

[1714892218]

1714892218

[darkangel11]

The important parts:
Bitcoin fell to a three-week low
It's only a 3 week low! It's been rising for months, corrections are to be expected. They make it sound like a big deal which it isn't.
Even if it falls to $2000, where the bottom lies according to that analyst, it's still a very nice yearly growth.

Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.
That's right, even when it falls, it's still worth more than it was a year before. If only I knew that in 2014...

[RewFrew]

The important parts:
Bitcoin fell to a three-week low
It's only a 3 week low! It's been rising for months, corrections are to be expected. They make it sound like a big deal which it isn't.
Even if it falls to $2000, where the bottom lies according to that analyst, it's still a very nice yearly growth.

Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.
That's right, even when it falls, it's still worth more than it was a year before. If only I knew that in 2014...

You talk about all the fear and big sells those 3weeks.. maybe

But this article, i found it very clear and neutral.

[Meuh6879]

But this article, i found it very clear and neutral.

 

Bitmain's move was in response to proposals that attempt to solve the bitcoin network's limitations in processing millions of daily transactions. Bitcoin's network has not kept pace with its growth and is unable to process all the transactions fast enough.

Dictator view.




Real view : https://www.youtube.com/watch?v=rpeceXY1QBM

[darkangel11]

The important parts:
Bitcoin fell to a three-week low
It's only a 3 week low! It's been rising for months, corrections are to be expected. They make it sound like a big deal which it isn't.
Even if it falls to $2000, where the bottom lies according to that analyst, it's still a very nice yearly growth.

Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.
That's right, even when it falls, it's still worth more than it was a year before. If only I knew that in 2014...

You talk about all the fear and big sells those 3weeks.. maybe

But this article, i found it very clear and neutral.

No, a 3 week low is not a big sale over the period of 3 weeks, it's the lowest price point in those three weeks. If a price is at $1000 for 2 weeks, then it hits $900 on one day , and goes back to $1000 on the next and remain there for another week, somebody will be able to write an article saying "bitcoin has hit it's 3 week low a couple days ago," which doesn't actually say anything about the price apart from trying to make it sound like something bad has happened.

[d5000]

This article is actually pretty old. It talks about the dip from June 14/15, not the recent dip. The recent dip down in the high 2200s was not even a three-week-low but only a ten-day low ...

[Osarman]

The important parts:
Bitcoin fell to a three-week low
It's only a 3 week low! It's been rising for months, corrections are to be expected. They make it sound like a big deal which it isn't.
Even if it falls to $2000, where the bottom lies according to that analyst, it's still a very nice yearly growth.

Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.
That's right, even when it falls, it's still worth more than it was a year before. If only I knew that in 2014...

You talk about all the fear and big sells those 3weeks.. maybe

But this article, i found it very clear and neutral.

Big sell will happen and huge no of buyer will appear they know that bitcoin have a value which will boost back and will make them a good in financial system.And this is also signal to those buyers whose was not able to buy one bitcoin so it will bring back opportunities to them as well.Lets see what will happen.