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Author Topic: Bitcoin drops to lowest level this month as price falls below $6,300  (Read 983 times)
LeGaulois
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November 12, 2017, 05:26:32 PM
 #21

Actually, $6000 seems to be under threat. Bitcoin is in the end a momentum trade. When prices were rising, they shot up through various levels ($5000, $6000, $7000) very quickly. Unfortunately, the same holds good on the way down.

It's actually holding $6000 pretty well. I wonder if the reason is that lots of coins are stuck in unconfirmed transactions and can't get to the exchanges? Bitcoin is also struggling to break the $6400 resistence.

If this continues it will trade in the $6000 - $6400 range till the mempool is cleared (or not).

You may be right after thinking about it, the long queue of transactions currently. But something to consider also is we are on weekend and tomorrow Monday and the following week coming we will start to see a more relevant situation. Also when the difficulty will increase the miners will surely come back to BTC.
I am in hurry to see what this week will give us

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November 12, 2017, 06:06:02 PM
 #22

The notoriously volatile cryptocurrency bitcoin has fallen to its lowest price this month after rallying in the first week of November and then crashing by more than $1,000 on Thursday and Friday.

The price of a single bitcoin is down 4.53 per cent at $6,272.24, according to Coindesk's aggregate index, a level it hasn't reached since the end of October.

Bitcoin surged to an all-time high of almost $7,900 on Wednesday, before dropping by more than $1,000 in 48 hours.

The surge was prompted by the suspension of a software upgrade that could have split bitcoin into what's called a "fork".

The most recent slump came as some traders dumped it for a clone called bitcoin cash, which has seen its value soar in the last few days: it's price is now up by 54 per cent to $1,247.

While I am extremely upset over what transpired to Bitcoin within 48 hours, I am hopeful it will bounce back again soon! My plan is to convert my Bitcoin to fiat once it reaches at least $7,500. What has gone wrong is literally out of our control. We just have to be steadfast in achieving our goals.

I have a question, though. Do you think it will rise again sooner than expected? If so, then, it is just a cycle of up and down.

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November 12, 2017, 11:19:58 PM
 #23

$5730 and falling. Falling, not rising. We have  ways to go before it becomes stable, don't know where the floor is right now, maybe $3500 before it stops falling.

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November 12, 2017, 11:46:29 PM
 #24

The notoriously volatile cryptocurrency bitcoin has fallen to its lowest price this month after rallying in the first week of November and then crashing by more than $1,000 on Thursday and Friday.

The price of a single bitcoin is down 4.53 per cent at $6,272.24, according to Coindesk's aggregate index, a level it hasn't reached since the end of October.

Bitcoin surged to an all-time high of almost $7,900 on Wednesday, before dropping by more than $1,000 in 48 hours.

The surge was prompted by the suspension of a software upgrade that could have split bitcoin into what's called a "fork".

The most recent slump came as some traders dumped it for a clone called bitcoin cash, which has seen its value soar in the last few days: it's price is now up by 54 per cent to $1,247.


I think the drop is just normal. This already happened in the previous month. It's funny how we always notice the drop and panic. It is just a temporary drop. Many investors have shift to Bitcoin Cash because they thought it was more profitable than bitcoin. About 13+%. But it is already recovering.
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November 12, 2017, 11:55:38 PM
 #25

$5730 and falling. Falling, not rising. We have  ways to go before it becomes stable, don't know where the floor is right now, maybe $3500 before it stops falling.
I do agree that the market isn't done with falling lower, but there is no way I see it fall back that deep. If the $5000 mark holds, we'll likely consolidate for a while before we go back up gain.

If we see the market take a dive under the $5000 mark, it will likely be a very brief visit. There is just too much demand in that range to allow the market to sink further down than slightly under the $5000 mark.

That being said, you haven't exactly been very steady with your predictions. You just blindly throw numbers on the table in the hope that you're right, which in 95% of times isn't the case. Grin

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November 13, 2017, 07:27:22 AM
 #26

The notoriously volatile cryptocurrency bitcoin has fallen to its lowest price this month after rallying in the first week of November and then crashing by more than $1,000 on Thursday and Friday.

The price of a single bitcoin is down 4.53 per cent at $6,272.24, according to Coindesk's aggregate index, a level it hasn't reached since the end of October.

Bitcoin surged to an all-time high of almost $7,900 on Wednesday, before dropping by more than $1,000 in 48 hours.

The surge was prompted by the suspension of a software upgrade that could have split bitcoin into what's called a "fork".

The most recent slump came as some traders dumped it for a clone called bitcoin cash, which has seen its value soar in the last few days: it's price is now up by 54 per cent to $1,247.

This is very alarming! Bitcoin price fall about 8% as of Nov. 10, 2017, fro $7,000 fall down to $6,475.40. If this will continue, it will bring a big effect to the entire business world.

LOL! LMAO! This is a joke that made my day Cheesy Grin
If you are saying that an 8% price fall is alarming, then you might be a true Newbie or just helping spreading FUDs. 8% fall is not that of a big deal when it comes to Bitcoin. 20% is still considered normal so you should relax now and not be "alarmed" anymore. There is no reason to be alarmed in the first place, this is Bitcoin.

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November 13, 2017, 07:51:07 AM
 #27

The notoriously volatile cryptocurrency bitcoin has fallen to its lowest price this month after rallying in the first week of November and then crashing by more than $1,000 on Thursday and Friday.

The price of a single bitcoin is down 4.53 per cent at $6,272.24, according to Coindesk's aggregate index, a level it hasn't reached since the end of October.

Bitcoin surged to an all-time high of almost $7,900 on Wednesday, before dropping by more than $1,000 in 48 hours.

The surge was prompted by the suspension of a software upgrade that could have split bitcoin into what's called a "fork".

The most recent slump came as some traders dumped it for a clone called bitcoin cash, which has seen its value soar in the last few days: it's price is now up by 54 per cent to $1,247.
bitcoin price value drops $1000 maybe due to the cancellation of Segwit2x. But there is a probability that this  could be a good news as the Segwit2x causes a lot of tension to the Bitcoin community. For sure Bitcoin will still regain its value in the coming weeks. Let us just wait and not jump ship into panic.
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November 13, 2017, 08:00:55 AM
 #28

Bitcoin Cash going to upgrade some new features called EDA which is going to block arbitrage for miners. There is nice opportunity for miners now.
So if they do this we will see miners going to switch to bitcoin rather then bitcoin cash. So price will start to increase after this update.
Also this will reduce unconfirmed transactions on bitcoin network.

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November 13, 2017, 04:14:10 PM
 #29

The rising and falling of the value of bitcoin is obviously normal. We cannot always go up. Value really depend on some factors. But I believe the value of bitcoin is being better and better each day.

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November 13, 2017, 05:59:43 PM
 #30

If you are saying that an 8% price fall is alarming, then you might be a true Newbie or just helping spreading FUDs. 8% fall is not that of a big deal when it comes to Bitcoin. 20% is still considered normal so you should relax now and not be "alarmed" anymore. There is no reason to be alarmed in the first place, this is Bitcoin.

I remember someone having opened a thread saying that he's worried about his $100 worth of Bitcoin investment having gone down with $10 in a very short time. Cheesy It just shows that people invest and blatantly assume that the market will increase. If the market doesn't go up, but go down instead, they act like the end of the world is near. At the end of the day, we shouldn't really be surprised by people acting like that. The forum is infested with these panic noobs, even to the extent where they infect other noobs with their nonsensical posts and don't even realize that. It's almost a plague.

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November 13, 2017, 08:11:47 PM
 #31

It is very volatile right now, but it seems that it really wants to keep its price at a high level. Two days ago it touched less than $5300, so we are fine right now, it is upto $6500 each bitcoin at the moment, i dont think that it is a bad number after all. Bitcoin cash is diying, and we all know that, the only people who are buying this coin, are those who are only trying to make some profit from it.
I took advantage of it when it was so volatile last night, i made more than 0.05 bitcoins because of it's last pump to $ 2000.


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November 13, 2017, 08:32:53 PM
 #32

It looked alarming, Bitcoin dropping about $1000 in a few days. Some think it's normal, after the cancellation. Some say it's because of someone's dumping Bitcoin and pumping Bitcoin cash. But, no matter What, Bitcoin will rise and get over 7K to reach 8K this month. Even with the Bitcoin cash fork, in the end there's no stopping Bitcoin.

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