Re: Don't worry, Bitcoin will be fine.

Quote from: hugeblack on August 05, 2018, 05:35:54 AM

The abnormal thing in yesterday's decline is the positive news from NYSE[1] and Starbucks[2].
The past days have been full of good news for Bitcoin and cryptocurrencies regarding traders adopting and extinguishing the institutional nature of digital assets, by accepting Microsoft, Starbucks with this technology.
Despite this positive, however, the market has been dealt with negatively as the price of the bitcoin has dropped about $ 500 in less than 6 hours.
I read some of the analysis of "OTC that is the reason for this decline.[3]" Of these analyzes are true, Bitcoin still suffers from the dominance of big whales.

Sources:
[1] The NYSE's Owner Is Launching a Startup Exchange for Bitcoin
[2] m/2018/08/03/starbucks-partners-with-microsoft-ice-on-new-cryptocurrency.html]Starbucks team with Microsoft on new payment using bitcoin
[3] Bitcoin Over-the-counter

That's what makes this a bit illogical, with all that positive news about Bitcoin's accessibility and adoption for different businesses, why would it be going down still? Wouldn't people want to buy it because of those reasons?

How would OTC be the reason for the decline? It's just a marketplace where retailers buy and sell coins. That's like saying that the Nasdaq was the reason for the decline in tech stocks last week. The exchange mechanism is just a place for trading.

Maybe some of the central bankers are getting in line and shorting Bitcoin for shits and giggles.