Why The Bitcoin Price Dropped Today

[element6]

http://bitcoinmagazine.com/16481/bitcoin-price-dropped-today/

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[Hunyadi]

Do you guys think their theory is valid? I know Alibaba IPO is a big deal but still...

[MichaelBliss]

It sounds made up to me.  It's not like the Alibaba IPO was just announced today.

[mkc]

I completely disagree. Alibaba is available in second market (rich exclusively) for a long time, big/smart money already bought there, now it is time for dumb and smaller investors.

[kamudimana]

this is a little bit weird for me 

[BIT-Sharon]

“So we do believe that a vast majority of the money invested in Alibaba and the gains associated will find its way back into Bitcoin.”

The initial price of Alibaba is far higher than expected, many hoarder of Bitcoins has given up their investment in it. The Bitcoins market in China in mainly associated with its government policy. I can't see much relation between the two things. There are still a big amount of my Chinese friends who do deal of American stocks.   

[Hufflepuff]

I wonder how many Alibaba shares the guest author of that article has

[alwaysonhere]

Same article was posted somewhere else.  Either way Im sure its going to sort itself out as it always has, or at least I HOPE lol.  I bought in before I began mining so I am a ways from breaking even on the purchase.

[chisefu]

You could write that exact same article about anything.  Price of X went down because people dumped to buy product Y, and gold always goes up when the market sucks.

I'm not even trolling, but like, that article is pure speculation.  At least one quote from a trader with big money would lend credibility to that awesome piece of journalism.  

Do you really think a bunch of 25 year old atheist kids on twitter, that got lucky because they mined blackcoin early, are invested in real stocks?  They'd get eaten alive in a regulated market.  These guys manipulate markets of 20k USD upheld value by instamining, pumping, then fudding after they dump.  Put these kids in a regulated market, with stocks worth millions, and watch how fast they run back to selling 'crypto pump tips' for 1 btc.