Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The volatility IMO is due entirely to the hard fork. A big player (likely miner) sold at 450 because they know what is coming.
The most obvious explanation is Mike's ragequit, which got wide exposure in the media (NYT, Motherboard, TechCrunch, Reuters, ...) It was also commented in Chinese forums.
I can't think of any other suiltable explanation for the sudden drop.
That's because of your astounding ignorance of economics.
If you ever looked up from your Buttcoin forums, and glanced at say Bloomberg TV, you'd notice there has been an ongoing meltdown in world financial markets since New Years Day.
The Big Money that moves the BTC price is selling to cover losses, and/or take advantage of opportunities in other oversold sectors.
This isn't rocket science, it's common sense.
All your ZOMG HEARN IS RIGHT BITCOIN IS FAILING spin attempt does is further cement your reputation for dishonesty.
I can't wait until the BRL finishes moving into hyperinflation territory, and you are begging for BTC to buy food and toilet paper.
