[2014-08-05] The Telegraph-Bitcoin trades slump as cryptocurrency's rise stalls

[protokol]

Bitcoin trades slump as cryptocurrency's rise stalls


"Elevated Bitcoin prices have deterred new investors and seen transaction fall back to 2012 levels"

"The ascent of digital currency Bitcoin has been halted. Transaction levels have been crumbling this year, and priced in dollars total volumes are now back to the levels seen in 2012."

http://www.telegraph.co.uk/finance/currency/11013767/Bitcoin-trades-slump-as-cryptocurrencys-rise-stalls.html

Bit strange after The Telegraph did a story the other week saying that Bitcoin would hit $2000!!

I'd class this as FUD, they're arguing that the current volume is the same level as during the $30 peak in 2012, when the volume in most of 2012 was tiny.

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[FeedbackLoop]

Can't access story.

I wonder at what chart that guy is looking at. Even priced in USD which seems to be what he's talking about, volumes are far from back to anywhere close to 2012:

https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=1&address=


Maybe that's why they removed the story so fast?

[protokol]

Can't access story.

I wonder at what chart that guy is looking at. Even priced in USD which seems to be what he's talking about, volumes are far from back to anywhere close to 2012:

https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=1&address=


Maybe that's why they removed the story so fast?

Whoops, link fixed.

[Carlton Banks]

A comedy of errors. I was going to rebutt them individually, but it's not worth the time it would take, plus it gives their claims more credence to do so. When the graphs included to back the claims actually demonstrate their falsehood, you have to wonder how much respect the writer has for the intelligence of readers of The Telegraph.

[Carlton Banks]

In fact, when you look at the links to other bitcoin stories on the The Telegraph that appear, they're really pushing a negative sentiment angle (two near identical "dark web" black market stories, dated 29th July and 2nd August?). My cynical side says they may be trying to inspire a bit of contrary instinct amongst the investor-minded types in their readership.