Re: Crypto's getting pummelled today...

Quote from: jbrock11 on January 08, 2014, 01:01:15 AM

Any reason why? Hard to believe it's just random volatility.

Quote from: cryptozark on January 08, 2014, 02:13:40 AM

The most likely reason in my opinion is that TaoBao (the chinese Ebay) is blocking anything related to Crypto. Also, there's a rumor that the FBI is going to dump their seized Silk Road assets.

http://techcrunch.com/2014/01/07/the-silk-roads-libertas-is-free-to-the-annoyance-of-us-authorities/

However, I think many people believe that is just shoddy reporting and not true at all. It could still incite some panic though.

the news is only half the story. a few comments on the price environment:

1) it may be hard to believe, but the volatility we are seeing now is still related to the December crash. it takes some time for the market to work through the oscillations that such a huge disturbance causes.

2) the volatility in the last 10 or so days is also marking the end of a nearly 20-day uptrend, and this is a normal market correction (i know it seems steep but remember we were at $600 around three weeks ago!)

--arepo