Bitcoin Drops To New Lows at $6,600

[fmasta]

This bad news always affecting the price of cryptocurrencies, so we cant know or analyze this growth, or fall. Some king of event would just happen in the world, and we just need to accept that.

[tbterryboy]

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.

We can say, bitcoin is a double sided profit for every user. Like in other sources of income, when prices get down, users start tentioning and they become worried over shortfall of prices. But here the scenario is totally changed. They are okay to make good profits even in the shortfall. Or it would be better to say that shortfalls are awaited for long times to come and users start buying.

[onebtcforlife]

Previously the price of Bitcoin went nearly 5500$ in the month of February, but now it is managing at 6600$. We don't know whether it can survive at this point but people are very negative about the Bitcoin price and which some people can't manage to sell at this price. So it is good to buy the Bitcoin at this position.

[Domain_THEME]

As far as I can remember, a few months ago, when it became known about the hack of the TETHER USD, then it was stated that hackers stole the amount of about $ 30,000,000. But at that time the market did not react with such a strong fall as now. Therefore, I believe that the information about breaking the South Korean stock exchange and the subsequent drop in the market is a usual manipulation by big players.

[npredtorch]

As far as I can remember, a few months ago, when it became known about the hack of the TETHER USD, then it was stated that hackers stole the amount of about $ 30,000,000. But at that time the market did not react with such a strong fall as now. Therefore, I believe that the information about breaking the South Korean stock exchange and the subsequent drop in the market is a usual manipulation by big players.

There's always been a manipulation from the start, it is just that its more effective if operated at the same time a -ve news pops out.

AFAIK the causes of the market deterioration are..
1. Sudden bad news (breached exchanges/scams)
2. Decline in market (due to investors being afraid to part in)
3. Manipulation
4. Absence of positive news.

[denisaardelean]

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 the market in recent days is fluctuating complex, bitcoin and altcoin prices are constantly decreasing and now bitcoin price is at 6500 $. According to my analysis, bitcoin prices are showing signs of strong recovery in the coming days, bitcoin is very strong recovery, so you should buy bitcoin right now to be able to lose profit.

[duyduc256]

Previously the price of Bitcoin went nearly 5500$ in the month of February, but now it is managing at 6600$. We don't know whether it can survive at this point but people are very negative about the Bitcoin price and which some people can't manage to sell at this price. So it is good to buy the Bitcoin at this position.

At this price range, many new investors with a foresight will start investing in Bitcoin as the future of Bitcoin will certainly increase and all venture capital investments at this time will be the result of your life. I think Bitcoin's down trend will soon end and the uptrend will start soon because Bitcoin has been down for more than six months and this should soon be over.

[trecore4]

But how can we confirm surely that this is the only news that is getting the bitcoin prices dumped to such lows. 

I mean its not about the hacks always and about this hack no one knew before after you posted it here. At least for me and my friends this news was completely new. So if that wasn't known so far then how can it affect the market so severely that it dropped the prices to that bottom.

The current dumps and pumps are all related to something unknown to us. No one is getting exact idea on whats going on and thus making it conflicting situation.

[Lazada]

Previously the price of Bitcoin went nearly 5500$ in the month of February, but now it is managing at 6600$. We don't know whether it can survive at this point but people are very negative about the Bitcoin price and which some people can't manage to sell at this price. So it is good to buy the Bitcoin at this position.

At this price range, many new investors with a foresight will start investing in Bitcoin as the future of Bitcoin will certainly increase and all venture capital investments at this time will be the result of your life. I think Bitcoin's down trend will soon end and the uptrend will start soon because Bitcoin has been down for more than six months and this should soon be over.

The trend of price movements that occur against Bitcoin is always changing all the time, so nothing can be predicted correctly. we all here can only speculate and wait for what happened. But when things get worse then make sure you do not experience panic, because by experiencing panic then it will only add to the bad situation. panic makes a lot of people do the selling and it makes the price of Bitcoin decline.

[s0beit]

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

The value of bitcoin dropped down too much these days and as for me, it is the right time to purchase more and to buy in this dip. I believe that we must just take advantage of this dip and just grab more opportunities to buy more coins. Don't panic because it is just a part of bitcoin'c votality. It happened already.

[miyaka26]

That's not the real deal why bitcoin has the price downtrend you cannot even see that exchange from the market of bitcoin from CMC, most probably altcoins are getting hacked from that exchange and the volume is too low from that exchange so do not expect that it will influence the bitcoin price so bad it is different compared to the MT.Gox incident.

[Fredomago]

Previously the price of Bitcoin went nearly 5500$ in the month of February, but now it is managing at 6600$. We don't know whether it can survive at this point but people are very negative about the Bitcoin price and which some people can't manage to sell at this price. So it is good to buy the Bitcoin at this position.

At this price range, many new investors with a foresight will start investing in Bitcoin as the future of Bitcoin will certainly increase and all venture capital investments at this time will be the result of your life. I think Bitcoin's down trend will soon end and the uptrend will start soon because Bitcoin has been down for more than six months and this should soon be over.

The trend of price movements that occur against Bitcoin is always changing all the time, so nothing can be predicted correctly. we all here can only speculate and wait for what happened. But when things get worse then make sure you do not experience panic, because by experiencing panic then it will only add to the bad situation. panic makes a lot of people do the selling and it makes the price of Bitcoin decline.

Indeed, person who didn't mind reading deeper from current situations are very prone to do a wild decisions, they can easily be move by the events where they seen that their investment already at risk, without analyzing the real issue and make additional plans to still survive the market, we do see a lots of ups and downs movement those who played shorts are really risking their money, but for those who can wait and handle the pressure, better success will follow, forget about your investment at this moment move on to your life and leave everything on hold.

[omonuyak]

This is expected as the negative news do affects the market more than the positive news.  The USD proving of bitcoin price manipulations is also affecting bitcoin price and it has created indecision in the market.  If we really want to makes money from trading then I will advise us to study how to place a trade and make money either bitcoin is falling down or is going up.  Margin and speculative trading at 1 fox or other popular margin market will provide us with such opportunity.

[AnonBitCoiner]

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

I was totally disagree with this.If our money is keeps on hacked by some people.How we will inverse in the hacking Crypto.Hope it will rectify in the short term.If it is rectified soon.More people start to inverse in the crypto currency.Then the price will increase in very short time period.

[c0rv0s]

it's possible this is just accumulation. Too many big players want to refresh their stacks from lower prices after picking up profits

[Baoo]

Honestly, it is unfortunate that this big drop lasted for a long period and until now the price of Bitcoin has become in a total and sudden decline (less than $ 6700), and I guess that this is the worst year for Bitcoin in terms of statistics and bad development due to there are many problems in order to destroy the cryptocurrencies and it is certainly the main reason for this continuous decrease is the attacks of the governments.

On the other hand, it is hard to know what will happen in the near future, but we can give some opinions or predictions, and IMO this big crisis of boats will continue within a week, and after that, possibly, the value of Bitcoin will rise to more than $ 8000 in a slow way (within 2 weeks), and I think that in the next months (2-4), we will so the new evolution of Bitcoin. So we must wait for the good surprise.

[senne]

Let me correct you then, Bitcoin has dropped below $6,600 and this situation has created panic in many users due to which total market cap has decreased at a very fast rate touching the lowest point of $6,299 in the last 2 months period time. But the impressive thing is that Bitcoin Dominance in this low market cap is nearly same about 40% which indicates that in harsh conditions people will always switch to the coin they trust the most i.e. Bitcoin.

[Herbys]

Bitcoin can test for a minimum, and this is in my opinion 6K.

[rockie87]

I believe this fall of Bitcoin is still stable than other ones.I also think the will continue till 6000$ or further below. Even the alts are in red from few days but there is nothing to worry. If choosen wisely this altcoins can generate awesome profit.Coins like EOS and Ethereum have performed well

[pixie85]

Let me correct you then, Bitcoin has dropped below $6,600 and this situation has created panic in many users due to which total market cap has decreased at a very fast rate touching the lowest point of $6,299 in the last 2 months period time. But the impressive thing is that Bitcoin Dominance in this low market cap is nearly same about 40% which indicates that in harsh conditions people will always switch to the coin they trust the most i.e. Bitcoin.

But the dominance will not keep on falling as long as Bitcoin works as intended. Some people say that it will go down because new altcoins are being launched every month, but also the number of people who come into the market is growing. If 40% of newcomers choose Bitcoin instead of one of those new altcoins the dominance will remain the same.