The price of bitcoin hit a two-month low over the weekend and social media is alight with speculation about it.
While pundits don't quite agree on the circumstances behind the plunge (with some blaming reports of a widening manipulation crackdown, the hack of South Korean crypto exchange Coinrail or just some pre-week selling), what's clear is that the price move has acted as a kind of social thunderbolt for the community, spurring commentary from all sides.
Investor Alistair Milne ran a Twitter poll on Sunday soliciting input on what people thought sparked the dip in perhaps a sign of the times, half of the roughly 3,700 respondents blamed "aliens" with 9 percent and 12 percent blaming the Coinrail hack and the CFTC subpoenas, respectively.
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https://www.coindesk.com/why-bitcoins-price-7k-social-media-some-arent-happy/According to CoinDesk's bitcoin price index, Bitcoin fell more than 10 percent over the weekend to a low of $6,647.33 on Sunday. Bitcoin is down about 50 percent this year and more than 60 percent off its all-time high hit on December 17 last year. Since then, bitcoin hasn't consistently hit a technical level people expect of.