Post
Topic
Board Speculation
Re: The week-long calm in the bitcoin market ended with a sudden $800 price drop on
by
Kemarit
on 14/06/2020, 03:02:39 UTC
Bitcoin price is somehow related to stock market. Not directly, but it is related.

When we see a big stock market crash such as last Thursday, a lot of investors sell their bitcoin to buy stocks for a cheaper price. This makes a downward pressure in bitcoin price.
The same happens to gold also.

I wasn't aware that stocks went crazy last Thursday and somewhat put pressure on Bitcoin holders.

But as far as Bitcoin is concern, this is nothing new, $800 decline is somewhat normal. But I guess everyone is just surprised to see the price drops as we have been attempting to reach $10,000 again. As for the crypto related media, its the trend, they always like to ride the popularity of Bitcoin and will create news to attract audiences.