Post
Topic
Board Beginners & Help
Re: Why bitcoin price dropped ?
by
force66
on 11/07/2013, 23:05:08 UTC
As bitcoin is something people invest in, recently it went back up because the DJI is at an all time high and everything follows that in at least some sense because it is used as a measurement of how well the world economy is doing. The other thing bringing it down, is that it was due for a 50% correction from the top since it bubbled and the trend after that has been for it to go down because there hasn't been enough volume for it to break past the resistance. I think it is trying to even itself out and find a stable price before investors get back in. Bitcoin has bubbled twice already and I think people might not wait too long to get back in before the next bubble.