Bitcoin just witnessed another significant drop, dropping all the way to $3,600.
Just when you thought it couldn't get any worse, it did.
Bitcoin has fallen another 15% and is again making new lows for the year.
The last time bitcoin traded at $3,600 was August 10th, 2017.
That means bitcoin is now trading at 15 month lows, though if you are invested in bitcoin, you likely already know how painful things have been.
Google searches for bitcoin continue to drop along with the price.
Basically telling us what we have known for months; people have mostly lost interest in bitcoin for some time now.
I would attribute much of the selling lately to what is going on in other financial markets.
If you haven't noticed, just about every risky asset and financial market has started selling off over the past few weeks.
The US stock markets are down close to 15% in the past few weeks, and oil was just recently over $82 and now it trades down around $54.
Oh and by the way, steem is now trading for $.33, giving it a market cap of under $100 million for the first time in almost 2 years.
Which means the selling is definitely not exclusive to bitcoin and the crypto markets.
Either way, hopefully the selling stops sometime here...
Stay informed my friends.
Image Source:
https://digitalbloggers.com/finance/bitcoin-update
Follow me: @jrcornel
There is now a potential for this to be the capitulation we needed! Looking forward to seeing volume come back on Monday and see how it takes the new price... As financial markets flee stocks and bonds for risks to earnings and economy, we could watch some “parking” of assets in cryptocurrencies...
Posted using Partiko iOS
The price is certainly getting there, but the volume is not really there yet. Usually there is massive increase of volume as prices go below where anyone expects them. I am fearful it may be a lot lower til that moment... unfortunately.
😩😩😩
Doesn't look like this is the bottom yet either...
This is pretty good news in the long run, it will give people an opportunity to buy in! I'm pretty optimistic with this last dip.
Yep. I have to admit I feel happy about these last drops. It has brought all the prices into a really good place for buying. Hell! Why not drop to $2000 for BTC. I'll be able to buy even more of my favorite alt coins.
If they recover. Some will not. In fact most will probably never so those highs again.
hodl coaster
11 months later... it's still going. :)
uh oh what do we do?! haha
Hodl on for dear life.
Yeah...I figured it was going to hit around here...at least. Posted about it the other day.
According to Yahoo Finance BTC-USD hit around here and lower in September of 2017 though.
Around $3600 seems to be a spot of resistance...so if we're lucky, it might reverse from here...or it could go down to around $3000. If it doesn't stop there, we're likely really screwed.
Of course, if it does go down that far, those of us that do have some fiat left to invest, or get some more in the future, will be able to buy much more of various cryptos.
Yes there was the pullback in September back to $3,700. August/September, only a matter of a few weeks.
I should also advise to a friend to sell and engage on other crypto markets. but which crypto market do you suggest these days?
None. Everything is going down. There is no where to hide except in dollar stable coins.
Yes, this the thing which we want to happened. Now the whales have loosen their shortening strength now anyhow they have to do their bitcoins long.
Countdown has been started
“Tik-Tok” ”Tik-Tok”
I hope so, though I think we have a lower to go still...
Maximum we can see down to 3,500$
I think we see $3k before end of day Monday.
Can be a possibility :)
Honestly, I am not sure where the bottom is, but it looks like a lot lower than this. The price action continues to be terrible.
i also believe we will see 3000 before this is over
you have become a regular read for me
keep up the good work
when the cryptos do turn around its going to be well well worth it for everyone involved if your holding the right coins
have a great day everyone
Hopefully. It is going to take a long time for things to recover though. Probably years before bitcoin hits new highs again.
Scary. Chart is ugly for BTC for now.
Posted using Partiko Android
Yep, it will take some heavy lifting to flip the chart at this point. It will take a while.
Thanks.