2021-01-11 Yahoo - Btc Biggest Plunge Since March Shakes Faith in Crypto Boom

[acquafredda]

A steep selloff in Bitcoin is fueling concern that the cryptocurrency bubble may be about to burst.

Bitcoin slid as much as 21% over Sunday and Monday in the biggest two-day slide since March. While the digital token recovered some of the losses during the European session, it was still down for the day.

“It’s to be determined whether this is the start of a larger correction, but we have now seen this parabola break so it might just be,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.

https://finance.yahoo.com/news/two-day-bitcoin-plunge-shakes-042414396.html

And here come the dragons. After days of publishing non-sense they finally have something to talk about. Watch out.

[cr1776]

A steep selloff in Bitcoin is fueling concern that the cryptocurrency bubble may be about to burst.

Bitcoin slid as much as 21% over Sunday and Monday in the biggest two-day slide since March. While the digital token recovered some of the losses during the European session, it was still down for the day.

“It’s to be determined whether this is the start of a larger correction, but we have now seen this parabola break so it might just be,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.

https://finance.yahoo.com/news/two-day-bitcoin-plunge-shakes-042414396.html

And here come the dragons. After days of publishing non-sense they finally have something to talk about. Watch out.

Exactly.  Never mind the fact that bitcoin is still higher than it was a week ago.   The same nonsense which makes people panic and them missing the bounce, or panicking and not buying when it is low while waiting for "lower".  

Supply and demand.  Demand will remain high as long as the thesis hasn't changed, and it hasn't.

The kind of leveraged trading here, https://bitcointalk.org/index.php?topic=5308605.0 , exacerbates drops.

[bitbollo]

it's really curious they noticed the price drop of the last two days... missing an entire week of ATH!
btw it's a classic scheme. each time there is a bad news about bitcoin, you can find a lot of news about it.
when the price is pumping you find only "tulip" and "ponzi" comparison, nothing really valuable for a newbie.

The real news should be "bitcoin is up of 80% since last month ... despite a 20% drop today!"

[cr1776]

it's really curious they noticed the price drop of the last two days... missing an entire week of ATH!
btw it's a classic scheme. each time there is a bad news about bitcoin, you can find a lot of news about it.
when the price is pumping you find only "tulip" and "ponzi" comparison, nothing really valuable for a newbie.

The real news should be "bitcoin is up of 80% since last month ... despite a 20% drop today!"

From the article linked above, it seems lots of people were buying on margin and then got liquidated causing more of a drop, liquidating more, until all the leveraged folks got taken out.

And you are exactly right about the real news.  Bitcoin is still above where it was last week.

[bbc.reporter]

CNN has also published an article that the bear market has begun hehehe. What is happening to these journalists? They should investigate more important issues in the cryptospace like Tether and have those issues' questions answered.

[odolvlobo]

That article won't age well as the price is already back up to $39k.

[cr1776]

CNN has also published an article that the bear market has begun hehehe. What is happening to these journalists? They should investigate more important issues in the cryptospace like Tether and have those issues' questions answered.

The only quibble I have is that you called them journalists.  They are not journalists, they are political hacks and operatives who want power and want to support those who would do things like regulate bitcoin instead of letting people be free to live their lives as they see fit without taking directives from Brussels or DC.  In short, they want the ant heap of totalitarianism instead of the freedom that many other people want. 

[acquafredda]

That article won't age well as the price is already back up to $39k.

It may well disappear completely for what it is worth but better if it sticks there so that the authors may recognize their complete lack of vision and accuracy.
"Better to keep your mouth shut and appear stupid than to open it and remove all doubt." 

[Nahratsak]

That article won't age well as the price is already back up to $39k.

It may well disappear completely for what it is worth but better if it sticks there so that the authors may recognize their complete lack of vision and accuracy.
"Better to keep your mouth shut and appear stupid than to open it and remove all doubt." 

I don't think even that will stop them from making rash predictions! It seems to me that they are simply biased and promote the news for which they received benefits