Re: Bitcoin price decreases 1000$ within a hour

Bitcoin price decreases 1000$ within a hour. And now, its price is only about $8800
Some my friends said that it could be dump to around 6k$, even 4k$
What do you think?

Almost $3,000 decrease for just a couple of days and if this will be continuous it can drive again back to $6,000. But about $4,000? That's another level if bitcoin pulls down rapidly. I don't know on how long this bearish market will end and I thought its about time that after reaching $9,000 it will be the time for bitcoin to break and try to $12,000 but it seems not. Undecided

It seems like the 12,000$ level is hard to break that is why we are experiencing this kind of decrease in the market. All together with bad news it created another panic selling where everyone participated including me. Before it got down from 11,000$ I immediately shifted my money to Fiat as this thing is expected to happen. What is left to do from other members is to hold or sell hoping that it will go down more. Either way we can get through this as this is one of the many cycles of Bitcoin.

Yes $12,000 is hard to break and I thought we'll definitely going to see it as price went $11,000 and close to that breakthrough. I guess I know the true reason why the price went down so fast.
It is because of this https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/