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and it went back up, I'd like to see it drop back to $1000 a bitcoin cause I know it won't stay that low for long
@jckimble it went up because some guy (can't remember the name) mentioned that Bitcoin was in a bubble (don't understand it ), well so said an article I read which I can't remember the link lol.
Sorry if it sounds like hearsay I just got the article through the Google app feeds :/
@f03n1x naw I was wondering why it dropped and shot up that quick that explains it. bitcoin is like the stock market, the price goes up as long as people trust it. when people get scared they sell and the price continues to drop until everybody that's scared sells out. then the cycle starts again, really I'm waiting for something big to happen so I can buy real cheap (con base going bankrupt, not bitcoin cracked big).
the stock market lesson I got from my dad, before anyone asks
dhruvil2913yBitcoin prices are down due to UASF drama, not because of mark cuban comment. He is too small for bitcoin to move.
ajmada2403yIMHO There were many reasons:
- BTC value increased of 1300 USD since Winklevoss ETF proposal rejection by sec. Such increase is an incredible rally, dum and FOMO money were all around. It had to burst.
- it hit 3000 USD, which is a huge psychological barrier, triggering a lot of profits taking
- People heard about the New York Agreement and UASF that would normally occur on 1st of AUG (expect another dip)
- On ETH end, SEC started investigating those crazy ICOs using ETH (which pumped ETH price out of the roof) and might considering regulating those launches which will lead to more ICOs.
And more others:
Normally BTC will get back at 3000 USD by the end of the month (remember dumb money?) But should dip around UASF.
2 months period is normal bullish/bearish cycle for BTC.
One advice: short those motherfuckers when everyone is scared.