Bitcoin Drops To New Lows at $6,600

[BokkaExchange]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

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[darkangel11]

This is confirmed FUD. That was some minor exchange that traded altcoins, even without fiat pairs. Check it's position on the market and daily volume. Do you believe that somebody stealing 20 million USD worth altcoins would cause a crash of an unrelated cryptocurrency (BTC) measured in billions? If you do, you need to have your head examined.

[Dart18]

This is confirmed FUD. That was some minor exchange that traded altcoins, even without fiat pairs. Check it's position on the market and daily volume. Do you believe that somebody stealing 20 million USD worth altcoins would cause a crash of an unrelated cryptocurrency (BTC) measured in billions? If you do, you need to have your head examined.

Yes it is FUD and it sure does work.  
Looks like the weak hands are getting larger in population. Just a small trading site hacking can cause this lots of changes in the price.
I cannot say this is fluctuation anymore. That is way to far from just day trading. They cannot shake it for that much. It could be a whale is dying and started withdrawals or the FUD is working.  

I dont care though. It is bitcoin. It will be back.

[xIIImaL]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

Why too much hacking has been taken part from the past few months. Till January month they does not know about the hacking huh. I really have big doubts on these whales who is always manipulate the price chart of complete crypto currencies.
This should not be happen from long time, if goes like this people whoever invested on cryptos will be loose their faith on the bitcoin and alts. Hope we find the good and positive change in the market trend.

[BitMaxz]

I don't believe on the link above like the above said it is another FUD, if this news is from well-known article or news site maybe I could believe that it is not another FUD because the article above and the website is not safe and not well-known.

Why honestly they're still spreading a fake news just to keep the price dip then people who spreading fake news will start to buy with a cheap price so that they can make more profit and I think the price of bitcoin today will stop decrease and expect for the bull market to push the price back.

[ervinmadureri]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

You can see that after touching the $ 6600 level, it has recovered to $ 6800, but at the moment, bitcoin prices are still adjusting and are likely to reach $ 6,000 in the coming days. You can see that bitcoin has broken uptrend in time frame D1, so bitcoin prices will be able to continue to fall deeper at any time.

[Bitcoin-Turkiye]

absolutely FUD. but the volume is very low. so the market is not in good shape. I have studied many graphics and looked at the constricting triangle formation. If reaction purchases do not happen now, there may be a very sharp decline...

[alibaba93]

This is confirmed FUD. That was some minor exchange that traded altcoins, even without fiat pairs. Check it's position on the market and daily volume. Do you believe that somebody stealing 20 million USD worth altcoins would cause a crash of an unrelated cryptocurrency (BTC) measured in billions? If you do, you need to have your head examined.

Bitcoin prices have fallen sharply in recent days and I am afraid that the market will fall into recession, you can see that bitcoin prices are constantly fluctuating and will be able to continue falling sharply in the coming days. It is very difficult to succeed commercially. The market is bearish in the long term so bitcoin prices may fall further and will touch the $ 4000 mark.

[danherbias07]

It is itchy.
We will have to wait before all of this will be cleared out.
The good thing is the Korean police made their move quickly. Other governments would be ignoring this kind of problems.
What do they care if they will not get something out of it.
They should make haste looking for the culprit. We are losing a lot of investors here and there.

[patt0]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

That is all FUD, and news sites trying to get web traffic for their sites, by showing those headlines, and trying to create relations where they don't exist. Crypto doesn't really react to news like that, otherwise it would be rising in value, because it's actually improving from a technical point of view. Normal declines happen, because the interest in buying crypto has decreases, which is perfectly normal after what happen last year. I mean, the price went up to fast, without any developments happening. Now it's development needs to catch up with it's price. What sites do, is to get any piece of information they have, and they simply create a relation, even though they can't really prove it.

[Zadicar]

This is confirmed FUD. That was some minor exchange that traded altcoins, even without fiat pairs. Check it's position on the market and daily volume. Do you believe that somebody stealing 20 million USD worth altcoins would cause a crash of an unrelated cryptocurrency (BTC) measured in billions? If you do, you need to have your head examined.

He would really need up his head to be examined if he do really believes such thing  

Total FUD and same on most people do say on here, This is only a small exchange with have Millions been stolen but it doesnt mean it is the main cause of such nose dive price decrease of bitcoin.There are lots of factors actually why we do on dumping state but pointing out the main would really remain unanswered.

[bitterguy28]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

Absolutely your correct and right another sad time for all bitcoins holder's but of course need to be patience time has comes those people always keep their faith for bitcoin become huge again and expensive decentralized curreny in the world of crypto's.

[ivrynx]

It is true, this is absolute FUD, there's no way that altcoins can contribute in the drop of bitcoin, both are crypto currency but they are still separate entities. I know if we look st the chart of bitcoin now, we can say we alreadt had hit three bottoms, but this move is just part of a normal cycle, soon we'll see bitcoin going uo again, but for it to happen, I suggest we wait till Mt. Gox makes a a move so we can preare ourselves, becuase once they release the remaining bitcoins they have, the value will drop and it will be a sale, and since it is a sale, a lot will buy the dip, and the value wil rise again in no time.

[Oceat]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

Rumor will has it had gets going everytime when Bitcoin drops a tremendous amount of prices from hundreds to thousands but i suspect that it was another fake news that was circulating again to back up the dropping of prices. Anyway, it may true or not i don't care, i just want them to know that i am not surprise anymore. I am just waiting here to see what moves they would be doing next.

[BitHodler]

If people keep focusing on nonsensical reasons of why the price might have gone down, they will not understand the actual reason for this longer term decline. Stop being so ignorant.

The market is going down because there is more circulating supply than demand, and this process might take several months to take care of itself. I don't think we'll be seeing anything below the $6000 mark though.

If the demand can't even sustain the $6000 mark, then know that what we went through last year, will partly undo itself this year. It's actually very similar to how the situation was last year, but then in a different direction.

It's a reverse pump.

[trupero_uno]

The market is going down because there is more circulating supply than demand, and this process might take several months to take care of itself. I don't think we'll be seeing anything below the $6000 mark though.

I have same opinion with BitHolder's, principally the price is going down as the cause of more supply than Demand. This is reasonable, and if connected to some rumors that the supply is increasing since the Mt Gos is releasing around 40K BTC  recently.  

[darkangel11]

This is confirmed FUD. That was some minor exchange that traded altcoins, even without fiat pairs. Check it's position on the market and daily volume. Do you believe that somebody stealing 20 million USD worth altcoins would cause a crash of an unrelated cryptocurrency (BTC) measured in billions? If you do, you need to have your head examined.

Bitcoin prices have fallen sharply in recent days and I am afraid that the market will fall into recession, you can see that bitcoin prices are constantly fluctuating and will be able to continue falling sharply in the coming days. It is very difficult to succeed commercially. The market is bearish in the long term so bitcoin prices may fall further and will touch the $ 4000 mark.

I never said it isn't bearish. What I meant was that this drop wasn't caused by a very small exchange being hacked. One that doesn't even trade BTC for fiat. I believe that it was a cumulation of events mainly the CFTC inquiry, pennant formation on the charts that called for a big price move.
As for the price I'm a believer. IMO the most probable option now is a new bottom somewhere around 5500 USD and a jump up to 7000. The second most probable option is a double bottom at 6k and a jump to 7k from there. I don't believe we're going to 4k and if it ever happens there are going to be multiple upward movers along the way.

[green547]

Don't look at this as a negative, look at this opportunity as a positive.  Great time to buy at dirt cheap prices.  It's only a matter of time before it reaches a new all time high.

[jimrome]

This is confirmed FUD. That was some minor exchange that traded altcoins, even without fiat pairs. Check it's position on the market and daily volume. Do you believe that somebody stealing 20 million USD worth altcoins would cause a crash of an unrelated cryptocurrency (BTC) measured in billions? If you do, you need to have your head examined.

The market depends upon these kind of news and these sort of panic will push the market down, the fact is that huge players will manipulate the situation so that the price goes down so that they will be able to short the price and get back again when the market falls, what you have said is the truth and a few million dollars worth of alt coins should not affect the market

[weeks65]

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

You can see that after bitcoin fell sharply and hit $ 6100, then at the moment there are signs of recovery and is at $ 6500. According to my analysis, the bitcoin price could reach $ 7100 then turn around and will continue to fall sharply. Therefore, I think that at this time you may trade bitcoin and altcoin only in the short term to minimize the risk.