Second South Korean exchange hacked (Bithumb) causing the latest sudden Bitcoin price drop of less than 2% today, June 19.
Not as bad as the last big sudden price drop, which was also due to a hack on another South Korean exchange (Coinrail); by June 11 the price dropped more than 6%
Mean while yesterday on June 18 the price shot up around 3% due to an app (Cash by Square) getting approval for a "BitLicense" issued by the New York State Department of Financial Services

Seems that people are less likely to panic sell as news of hacks emerge. Anyone who really knows how these things work know that bitcoin doesn't really have security flaws and that it's always the incompetence of users and by extension the exchanges that are prone to vulnerabilities.

It's interesting to note that the Cash app has 7 million users and Square (SQ) has been traded on the New York stock exchange since November of 2015; while the Korean exchanges seem to be limited in users in comparison to Square's Cash app which actually has been selling bitcoin since last November.

So the ONLY reason for any sudden price drops (outside of massive market manipulation as was the case to the rise and drop from the 20K price) is due to sudden bad news about bitcoin, usually regarding exchanges being hacked...

Yet any good news regarding bitcoin is a reason for sudden price surges. There's a lot of good news to come, but no bad news? What do you guys think?

I would think the good news would cause much bigger price surges but maybe the main effect is subtle and long term, assuming people do care.... Or maybe Koreans are paranoid and Americans are inattentive and careless... On the other hand if they were so paranoid they shouldn't be using such unregulated exchanges anyways...

Just remember that last week has been the lowest Bitcoin has gotten in recent times. I recommend buying and holding! It can only go up. However never invest anything that you aren't willing to lose... Bitcoin may not be forever, but cryptocurrency certainly will be.