[2017-12-22]Bitcoin Price Slumps Below $13,000 5 Things To Know

[hugeblack]

Despite the sharp fall this week, Bitcoin price has jumped nearly 14 times this year, leading to some regulators caution the public dealing with the cryptocurrency.

Volatility in Bitcoin prices continued on Friday, with the value of the cryptocurrency or digital currency falling below $13,000 at day's low on Bitstamp, a cryptocurrency exchange based in Luxembourg. Bitcoin prices have swung wildly this week. From a record high of $19,666, hit on Sunday, bitcoin prices fell over 33 percent or lost one-third of its value, to hit $12,793 at day's low. Despite the sharp fall this week, Bitcoin's price has jumped nearly 13 times this year, leading to some regulators caution the public dealing with the cryptocurrency. At 12:15 am, Bitcoin was trading at $13,811 on Bitstamp, down around 18 percent.

Here are five things to know about Bitcoin vs dollar:
1. The bitcoin's rapid gains this year - its price has soared about 19 times when it hit a record high above $19,000 - have spurred caution and alarm among some policymakers.

2. Indian markets regulator Sebi (Securities and Exchange Board of India) will come down heavily on illicit 'initial coin offers' seeking public investments with promise of high returns from bitcoins and other virtual currencies, amid a mushrooming of such schemes in the absence of any regulatory regime, according to news agency Press Trust of India. Bitcoin or any such cryptocurrency, is not an approved product by the Reserve Bank of India (RBI) or any other agency.

3. The Income Tax Department is set to issue notices to 4 lakh to 5 lakh high net worth individuals across the country who trade on the exchanges of bitcoins, Press Trust of India had reported earlier. The department, the news agency said citing official sources, found that out of the estimated 20 lakh entities registered on these exchanges, about 4 to 5 lakh were "operational" and indulging in transactions and investments.


4. Bitcoin's journey this year has been anything but volatile this year. Bitcoin hit a record high of $19,666 on Sunday, when the exchange giant CME Group launched bitcoin futures, one week after its rival Cboe Global Markets listed the world's first bitcoin futures. In November, it tumbled almost 30 per cent in four days from $7,888 to $5,555. In September, it fell 40 per cent from $4,979 to $2,972.

5. Singapore's central bank this week issued a warning against investment in cryptocurrencies, saying it considers the recent surge in their prices to be driven by speculation and that the risk of a sharp fall in prices is high. South Korea's Financial Supervisory Service said on Tuesday it does not consider bitcoin and other cryptocurrencies to be currencies of any kind. Japanese Finance Minister Taro Aso said on Tuesday that bitcoin had not been proven as a credible currency.

Source:https://www.ndtv.com/business/live-bitcoin-cryptocurrency-falls-over-5-to-trade-below-15-000-five-things-to-know-1790827

[Guardian.P]

everyone says they warned. They always did it without any reason. And finally they guessed it))) It still does not prevent bitcoin from breaking through again 20k in 2018

[audaciousbeing]

everyone says they warned. They always did it without any reason. And finally they guessed it))) It still does not prevent bitcoin from breaking through again 20k in 2018

Exactly my point people are fond of quickly noting it when the price is falling, they feel themselves like they knew its going to happen, when the price is rising, they still say people should be careful while those who rely on them without gaining when the price was rising have themselves to blame. All this warnings sometimes I see negates the free will which comes with bitcoin, you get to be gagged by people who thinks they know economics and its analysis to decide for you when to buy and when to sell.

A lot of people would have sold because they feel price is going to crash real big but when price begins to rise they realize its too late to enter the game. For me, I am not bothered whether it increases or it falls I will only sell when I am comfortable with the price as the need arise in my daily living.

[Kemarit]

What kind of article is this? Its completely rubbish and the 5 things noted has nothing to do with the slumping that we are seeing right now. These guys are really funny and coming up with their own theory why the price is going don't. The market is based on speculation and the price is always volatile. But I guess those authors really want to get some publicity that why a lot of them are writing about bitcoin. I also give a fuck about the current price, of course I want it to hit $20,000, however it looks like we are not going to hit it because suddenly the wind direction has change. Investors cashing out and people panic. I will just sell whenever I want. I'm not that kind of investors who easily sells because there is a panic. I will wait till the dust settles, right now is not a good moment to trade. HODL'ing is the best option for now.

[Lieldoryn]

I think that now is the time to buy bitcoin. Look at the dynamic subsidence of the entire cryptocurrency market. These coins are increasing in price no. This means that the fall in the price of bitcoin is temporary. In the near future we will see a huge jump in prices. Bitcoin will be above $ 20,000 that's for sure. Observe patience and do not panic.

[1Referee]

I think that now is the time to buy bitcoin. Look at the dynamic subsidence of the entire cryptocurrency market. These coins are increasing in price no. This means that the fall in the price of bitcoin is temporary. In the near future we will see a huge jump in prices. Bitcoin will be above $ 20,000 that's for sure. Observe patience and do not panic.

I am perfectly fine with the price hovering around current levels for the rest of this year, because let's be honest, even with how we have gone down we're still up more than 1000%. If people don't have the balls to buy at current levels, then they surely will buy later, but then when the market bounced back over the $15,000 level. That's how things go in this market. If we look back at a similar selloff this year, then we experienced the same level of panic, but we broke through record high after record high after that. As long as the panic isn't completely over, the market will not calm down, so we might go down a little bit further, but nothing too crazy, really - we've had the worst.

[marckenigsberg]

Let them keep warning so they can have clickbait headlines.
Every year there are warnings for various reasons and still the majority of mainstream media fail to understand why we believe in bitcoin
While they warn I'm going to keep buying and hodling.

[webtricks]

Among the reasons listed by you, number 2. and 3. are specifically belong to India. Being Indian, I can assure you these aren't the prominent factors which caused dip in market at the moment.
The major reason is simple, price had risen several layers without any major correction and it is rule of every market that Market price Can't be Upward Sloping Curve. It must categorized with some dips and downfalls. So it is happenimg at the moment. But there isn't any reason to despair as every machine needs to cool down before igniting again.