Did you check how much gold went down?
It is somewhere in the range of 1-1.5%. Basically, the change is just bordering on average daily volatility of this metal (and it's already rebounded to 1,243 dollars per ounce). Regarding cryptocurrency going south, the explanations is simple, and I've been telling it for a week already. The market had been mostly undecided for the last few days, and now as the Judgment day draws nearer, people become nervous and anxious, so it shouldn't surprise anyone that they are looking to cash out. I suspect we should see extreme volatility in July
It is somewhere in the range of 1-1.5%. Basically, the change is just bordering on average daily volatility of this metal (and it's already rebounded to 1,243 dollars per ounce). Regarding cryptocurrency going south, the explanations is simple, and I've been telling it for a week already. The market had been mostly undecided for the last few days, and now as the Judgment day draws nearer, people become nervous and anxious, so it shouldn't surprise anyone that they are looking to cash out. I suspect we should see extreme volatility in July
On second thought, it could be ethereum price falling through the floor that is dragging down btc..
Bitcoin isn't a bubble.
ETH could definitely be a bubble though. Its fall could diminish btc's value as eth's bubble pops.
As to me, Ethereum is just a wrapper for scams
And if many projects linked to it scam in the end, it will be considered as that exactly. Further, Ethereum going down (for example, due to ICO's starting to fail in massive numbers) should actually contribute to Bitcoin growth since people will move their wealth from it right into Bitcoin. There is no reason to cash out just because of ICO's scamming (which is not Bitcoin's concern). The current decline of most coins has more to do with dismal expectations and increasing anxiety linked to the coming final showdown between Bitcoin developers and miners