[2018-06-10] The Bitcoin Price Is Down 50% This Year Alone - Here's Why

[ruthbabe]

The Bitcoin price has today dropped 12%, taking its year-to-date losses to an eye-watering 50%, after South Korean exchange Coinrail warned users it’s reviewing its system due to a hacking attempt.

Meanwhile, rival cryptocurrencies Ethereum and Ripple are both down over 10% today.

The latest blow comes as the Bitcoin price struggles to find a floor amid regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry.

However, Bitcoin holders aren't broke yet — overall, the Bitcoin price is up over 100% on this time last year when it was trading for less than $3,000.

More here, https://www.forbes.com/sites/billybambrough/2018/06/10/the-bitcoin-price-is-down-50-this-year-alone-heres-why/#1b693a6a6801

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[sindikat]

It seems to me that the reason for hacking exchanges can not affect the popularity of the crypto currency. Exchanges do not take the necessary precautions. But users are also part of the system and should take measures for their safety. The reason for the fall in prices for cryptocurrencies is that a large capital captures the leadership in this market and easily manipulates prices.

[stompix]

The Bitcoin price has today dropped 12%, taking its year-to-date losses to an eye-watering 50%, after South Korean exchange Coinrail warned users it’s reviewing its system due to a hacking attempt.

Nothing to do with that SK exchange.

First, it one damn small exchange that deals more in alts than bitcoin, second BTC wallets were not affected, only some shitcoins I've never heard of before.
If that exchange could cause a 10% drop, if Coinbase gets hacked we're going below zero.

[Harlot]

So everyone has concluded that a not known cryptocurrency exchange which only trades 50 kinds of cryptocurrencies is the reason why the whole market went down? I don't think so they only loss about 40 million dollars which is small money. To tell you the truth that amount if money is always being traded in the market regularly. Its funny how we always connect past events to our reasons on where the market is going. It always will make our guesses 100% right, although it won't make you a smart person as you didn't actually predict something.

[davis196]

The Bitcoin price has today dropped 12%, taking its year-to-date losses to an eye-watering 50%, after South Korean exchange Coinrail warned users it’s reviewing its system due to a hacking attempt.

Nothing to do with that SK exchange.

First, it one damn small exchange that deals more in alts than bitcoin, second BTC wallets were not affected, only some shitcoins I've never heard of before.
If that exchange could cause a 10% drop, if Coinbase gets hacked we're going below zero.

You can tell that to all the newbies,who panic all the time and all the people,who don`t know anything about crypto. I bet that they will trust Forbes,instead of any crypto or bitcoin expert.
This forbes article is an example for a clickbait manipulative propaganda shit.

[1Referee]

I find it quite funny that each time the price is going down, it has to be the result of regulations, hacks, power consumption, etc.

It has nothing to do with anything of that. The market is trying to adjust itself to more appropriate levels after all the hype that we went through, which is rather difficult with how seperated the market still is. Bitcoin has grown too fast, it's time for people to accept it. The pump back in 2013 was fake, and the most recent one was fake as well; the chart patterns are almost identical.

Good thing is that we have some crazy bullish funds coming up, hopefully this year. Both the Coinbase fund and the VanEck Bitcoin ETF are backed by actual coin supply. This will make sure that the current excess of coins will quickly dry up again. You can imagine that a lower price will only motivate investors to jump on board.