Bithumb was hacked yesterday and the news has been spreading in the major media for at least 14 hours now based on the article times[1].
price however has not shown any reaction to the news and on top of that in the past 14 hours we have had a rise. granted it was a small rise but still it reached $6841 a couple of hours from this news.
is this a good sign that we have reached the absolute bottom?[1]
https://www.ccn.com/breaking-south-korean-crypto-exchange-bithumb-hacked-thieves-steal-30-million/That's because it was XRP that got stolen, not bitcoin.
The only reason for the bitcoin price to go down is if bitcoin is stolen and people are afraid the stolen coins are going to get dumped on the market and they want to sell before the dump.
If it's an alt stolen, it's the alt that is going to get dumped, not bitcoin.