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Author Topic: Bad news-current bitcoin price is going down 6,644$  (Read 166 times)
vintamodern444
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February 06, 2018, 12:44:34 PM
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Bad news, Bitcoin continues to break through the bottom of 8,000$-current bitcoin price is  6,644$

Bitcoin has fallen more than 15% in the past 24 hours, priced around  7,000$ and now bitcoin price is going down 6,644$
Currently there are so many bad news down the market,,This is the second time Bitcoin has dropped 8,000$ in 4 days.
The Altcoin also fell in price like Bitcoin, causing the market to burn. Specifically, the price of Ether (ETH) is only 681.94$, down nearly 20% in the past 24 hours.
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Hivozo
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February 06, 2018, 02:02:57 PM
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Because Banks in Britain and the United States have banned the purchase of cryptocurrency by credit card. This is bad news makes bitcoin and cryptocurrency market are going down. Cry
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February 06, 2018, 02:03:48 PM
 #3

next resistance is $7k , if it's break i think it will bounce to 10k.
But if it break support on 5k, it will be disaster... bubble burst.. we hope it won't happened and it will recover soon

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February 06, 2018, 02:09:52 PM
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maybe you should update again, the current price is already $ 7100 in CMC. lucky for those of you who buy a price below $ 6k, you already have a profitable income.

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February 06, 2018, 02:12:23 PM
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next resistance is $7k , if it's break i think it will bounce to 10k.
But if it break support on 5k, it will be disaster... bubble burst.. we hope it won't happened and it will recover soon


Breaking 5k means nothing in the grand scheme of things.
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February 06, 2018, 02:14:34 PM
 #6

Well the dollar is strengthening, so that may account for part of the change.

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February 06, 2018, 02:14:57 PM
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because too many fud and bad rumour..
I hope it will recover and mid-end february and got stable price at march

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TheySeeMeHodlingTheyHatin
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February 06, 2018, 02:17:18 PM
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 #8

how can a low price be bad news ?

if the tech is improving and the price is lower, it means the value is bigger and better
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February 06, 2018, 02:19:27 PM
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Because Banks in Britain and the United States have banned the purchase of cryptocurrency by credit card. This is bad news makes bitcoin and cryptocurrency market are going down. Cry

This is a good thing. People shouldnt be able to invest in Bitcoin with credit - money they dont have, which inflates the price, creating a fake price built around debt. This is not good for the long term of Bitcoin or crypto market as a whole. I think the banning of credit cards is a good move which may drop the price initially but will help to drive the price to ATH's in the future.
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February 06, 2018, 02:21:44 PM
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Because Banks in Britain and the United States have banned the purchase of cryptocurrency by credit card. This is bad news makes bitcoin and cryptocurrency market are going down. Cry

This is a good thing. People shouldnt be able to invest in Bitcoin with credit - money they dont have, which inflates the price, creating a fake price built around debt. This is not good for the long term of Bitcoin or crypto market as a whole. I think the banning of credit cards is a good move which may drop the price initially but will help to drive the price to ATH's in the future.

Also worth noting is that the ban is actually only on creditcards, people with debit cards are not blocked, so this is essentially just a way to make sure that people do not buy crypto for money that they don't have, which imo is a perfectly sane thing.
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February 06, 2018, 02:22:52 PM
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It is gonna recover. It always does. Currently is at 7k, but it will be an uphill battle. Stay strong.

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February 06, 2018, 02:26:53 PM
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Because Banks in Britain and the United States have banned the purchase of cryptocurrency by credit card. This is bad news makes bitcoin and cryptocurrency market are going down. Cry

It's nothing to do with that. Most people don't buy bitcoin with credit cards. They wire cash to teh exchanges.

No, what we're seeing is plain profit taking. You can see the same on the stock markets. The US economy is overheating and interest rates are going to rise. That makes cash savings more attractive, and less risky.

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February 06, 2018, 02:39:31 PM
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Because Banks in Britain and the United States have banned the purchase of cryptocurrency by credit card. This is bad news makes bitcoin and cryptocurrency market are going down. Cry

It's nothing to do with that. Most people don't buy bitcoin with credit cards. They wire cash to teh exchanges.

No, what we're seeing is plain profit taking. You can see the same on the stock markets. The US economy is overheating and interest rates are going to rise. That makes cash savings more attractive, and less risky.

Yes, I kinda agree with you on that, and credit card debt is going to be more expensive with the interest rates that might go

up, so people might be more hesitant to use credit to fund their Bitcoin investments. When the US economy struggle, the

rest of the world, feel the pinch too. A lot of people might even be liquidating their savings in Bitcoin to pay off their debt,

before the interest rates goes up.  Shocked

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February 06, 2018, 02:42:25 PM
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Yes, this sort of dip has been recorded every year. If you go to coinmarketcap, you'll see that cryptos have fallen tremendously in the first half of every year and later recovered. This year the news regarding cryptocurrency assets is a little controversial but all will settle when things become clear. Most people are just scared so a massive FUD is spreading causing the drop in prices. Patience is your key right now.
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February 06, 2018, 02:45:23 PM
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We might have seen the bottom, things are looking better now, volume returning, parabolic trend intact.  Cheesy Cheesy
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February 06, 2018, 02:50:33 PM
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Bad news, Bitcoin continues to break through the bottom of 8,000$-current bitcoin price is  6,644$

Bitcoin has fallen more than 15% in the past 24 hours, priced around  7,000$ and now bitcoin price is going down 6,644$
Currently there are so many bad news down the market,,This is the second time Bitcoin has dropped 8,000$ in 4 days.
The Altcoin also fell in price like Bitcoin, causing the market to burn. Specifically, the price of Ether (ETH) is only 681.94$, down nearly 20% in the past 24 hours.

Not only the price of bitcoin is reduced,the price of litecoin,Ethereum,bitcoin cash is reduced.So now the choice is yours,even you can invest in the altcoin instead of bitcoin.Just now the price of bitcoin is raise up to 7000$,soon the price of bitcoin will reach back to 8000$.All the holders should keep their bitcoin for some more weeks to avoid the loss.
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February 06, 2018, 04:11:01 PM
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Bad news, Bitcoin continues to break through the bottom of 8,000$-current bitcoin price is  6,644$

Bitcoin has fallen more than 15% in the past 24 hours, priced around  7,000$ and now bitcoin price is going down 6,644$
Currently there are so many bad news down the market,,This is the second time Bitcoin has dropped 8,000$ in 4 days.
The Altcoin also fell in price like Bitcoin, causing the market to burn. Specifically, the price of Ether (ETH) is only 681.94$, down nearly 20% in the past 24 hours.
I have already  know that this fall is as per the nature of economics. I have read some where that for a sudden growth there must be a sudden fall. But I believe that at the end of this fall bitcoin will get start from the beginning.
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February 06, 2018, 04:16:01 PM
 #18

Now the price of bitcoin is around $7300 at preev.com,so it is a huge bump which happened in some minutes,so I hope it will continue to rise.But the price is always falling after made a quick bump so it may happen again.I heard that bitcoin can reach upto $4000 in some days,but I don't want that to happen.

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February 06, 2018, 05:13:24 PM
 #19

Not only bitcoin price that is reduced. Almost all crypto currencies are reducing due to ban of credit card purchase in USA and UK . This is the baddest news ever to happen to cryptocurrencies. The fear of alternative currencies and bitcoins been banned outright is making traders panic, that is the result of the selling of bitcoins and altcoins.

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February 07, 2018, 08:28:48 AM
 #20

Because Banks in Britain and the United States have banned the purchase of cryptocurrency by credit card. This is bad news makes bitcoin and cryptocurrency market are going down. Cry

This is a good thing. People shouldnt be able to invest in Bitcoin with credit - money they dont have, which inflates the price, creating a fake price built around debt. This is not good for the long term of Bitcoin or crypto market as a whole. I think the banning of credit cards is a good move which may drop the price initially but will help to drive the price to ATH's in the future.

I agree with you. The prohibition of credit cards to pay for bitcoin and other cryptocurrency is suitable because its price is unstable. Trader are very easy to lose money and can not afford to pay debts to the bank.
I think Bitcoin and other cryptocurrency should be long-term investment and should invest by saving money. Avoiding borrowing or pouring out assets into it will be very risky.
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