[2018-1-19]Bitcoin Had a Strange Week. Does It Matter?

[hugeblack]

Bitcoin had a lackluster week, with dramatic drops midweek that made some question the hype cryptocurrencies had generated in the latter months of 2017. And then it started to recover, reminding us how erratic cryptocurrencies are. Reports that regulators may soon come to get tough on the market and evocations of the Great Depression made for a particularly tempestuous week in the already-chaotic world of cryptocurrencies. So what happened—and does it mean anything?

Here’s a look back at how the week unfolded

Read Full :https://slate.com/technology/2018/01/bitcoin-had-a-strange-week-does-it-matter.html

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[Tylev]

Bitcoin has so far stopped its sharp decline and this has already been of no small importance. It seems that he does not intend to drop further, since he is already at the level of more than 11,000 dollars for the fourth day. The continuation of its recession could cause a good panic and it is unknown what could have ended. Anyway. the image of the crypto currency, and especially bitcoin, would have caused great damage.
     Now many expect to eliminate the drawbacks of bitcoin associated with its slow and costly transactions. So far I do not see much success in this regard. But let's hope for the best.

[Qartersa]

You know, from the beginning, Bitcoin's price is really erratic. Nothing new, as for me. One thing, though, that is extremely noticeable is the fact that its value now is really enticing as compared to traditional fiat currencies.

On your question as to whether the erratic changes of Bitcoin for the past week matters, of course it does! Every minor movement matters because this will all be part of a data that will be used later on to predict future prices through trends. Alongside this, I suggest you keep your data accurate because all your future studies will devolve on it at a later time.

[jjacob]

Bitcoin has so far stopped its sharp decline and this has already been of no small importance. It seems that he does not intend to drop further, since he is already at the level of more than 11,000 dollars for the fourth day. The continuation of its recession could cause a good panic and it is unknown what could have ended. Anyway. the image of the crypto currency, and especially bitcoin, would have caused great damage.
     Now many expect to eliminate the drawbacks of bitcoin associated with its slow and costly transactions. So far I do not see much success in this regard. But let's hope for the best.

The retrace may have stopped, but the price did go below $10,000, which represents a 50% correction from the previous All-Time-High. In most other asset classes, this would have been considered a disastrous rout. We seem to have arrested the decline, but we still are far below $20,000 levels.

[cynical]

Good question.
I think what happened over the last week matters immensely.

There are a lot of dynamics at play as always, for me it looks now that the value of crypto was over inflated
Particularly bitcoin. So many people hopped on to ride the train which seemed unstopable and i would say
many got severely burned last week and are reluctant to get back in, hence we see a slow return in BTC value.

The big 50% fall in crypto has attracted even more negative press and may kead to more countries seeking
to introduce regulations and control, im not sure this is a good or bad thing.
Did i hear that france and germany are looking at regulation's?

Are more people investing a greater percentage of their crypto holdings into alt currencies rather than bitcoin?
Has bitcoins fees and scaling issues finally caught up with it?
Are these some of the reasons why bitcojns value gas not shot back up as i thought it would?

Just my thoughts

[J. Cooper]

How is this strange behavior? If you look at the bigger picture you will see that the steep drop we've experienced the last week was highly anticipated. Unless you truly believe we could keep going up like that without going down. However this is the first time we've experienced a 50% dip (calculated from the all time high). But I guess with greater gains come greater corrections. I do believe we hit the low though.

[Bolt Brownie]

Of course it doesn't matter, and I don't even think we are on a bear market right now. Bitcoin had an amazing year as an asset, with returns that can't be matched by anything else out there in the financial market, and now it had a correction. A lot of people is not used to the crypto volatility, but until we have enough liquidity in the markets, this will happen a lot. Prices can move like that, and it doesn't mean anything. That was not a massive sell, it was just a correction that is normal for bitcoin. We are still in a bull market in my opinion, and we are already seeing bitcoin recovering.

[superjeyy]

You know, from the beginning, Bitcoin's price is really erratic. Nothing new, as for me. One thing, though, that is extremely noticeable is the fact that its value now is really enticing as compared to traditional fiat currencies.

On your question as to whether the erratic changes of Bitcoin for the past week matters, of course it does! Every minor movement matters because this will all be part of a data that will be used later on to predict future prices through trends. Alongside this, I suggest you keep your data accurate because all your future studies will devolve on it at a later time.

I agree with Qartesa. While most of us are used to the sudden inconsistent movement of the Bitcoin rates, it is still important to take note of such events as it may greatly help in predicting the future trends of Bitcoin through the use of different statistical analysis. An unstable and volatile Bitcoin rates may be, a correlation can still be established which will be of great importance in studying the trends to be established by Bitcoin in the future. For those who has been investing in Bitcoin for a long time, the occurrences that happened over the past few days are normal and bearable, I know that most people experience a far worse circumstance while handling Bitcoin. I believe in the world of Bitcoin, nothing is strange. Bitcoin is just really volatile to produce such uncertain rates.

[gabbie2010]

I observed that the price had gained stability this week  a bit  slow in volatility and momentum  having hit a support at $9000+ since then the market sentiment has been bullish already at $12000+ it could have been better if the bullish movement is slower with some little corrections or pullbacks this would bring more confidence for investors.