Why Bitcoin Price Drops Below $8K (EXPLAINED)

[dayem708]

Bitcoin is currently down at $7,940 on the day so far after UK high-street bank Lloyds banned all cryptocurrency payments on its credit cards.

The ban extends to other household names in the banking giant's credit card family including Bank of Scotland, Halifax and MBNA.

Wallet holders would have been hoping for a better start to the week but news of another mainstream finance firm being spooked by price volatility and regulatory threats means that other credit cards retailers around the world will be studying the fallout from Lloyds' ban.

However, the volatility of the cryptocurrency market could mean BTC may crash further or even soar past the highs of the $20,000 seen in December.

Will Bitcoin go back up?

What do you think ??

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[RNC]

However, the volatility of the cryptocurrency market could mean BTC may crash further or even soar past the highs of the $20,000 seen in December.

Will Bitcoin go back up?

What do you think ??

I don't think I dare answer that question or I might get banned and it won't be Lloyds that is doing it !

Level playing field it is not and I tend to get more a more balanced debate on ZeroHedge, pop over and
see what people are saying and then I dare you to pose the question on ZH

[Bolt Brownie]

A lot of things are happening and those that don't really like bitcoin are taking their turns releasing bad news. This has created and is now maintaining a lot of FUD in the markets, that are filled with retail investors that joined the ride looking for fast profits, just like the .com bubble. Was the internet revolution a lie? Of course not, but there were a lot of scam companies that took advantage of that hype. The same thing is happening now, and we will just see all those weak hands sell their crypto because they are afraid of what is happening and don't quite understand it.

My belief in a decentralized future remains intact, and crypto will play a large role in that new world. Maybe we hit the bottom for this year, maybe we didn't. It doesn't change a thing.