BTC is right now trading at 513.13 on Bitstamp. Inspite of many positive feedback, we haven't seen upwards price moment in past few months. Now, when CFPB warned customer of Bitcoin calling it 'wild west', we've seen downwards moments. Why is it so that positive news dosen't have same impacts as negative news?
What do you think?
One thing you will notice a lot in any market is fall is faster than rise. The reason is its easier to incite panic than is to gain confidence. Think about it.What do you think?
As for why the crash, well there could be multiple reasons which people can associate it with. Ethereum people talking about dumping their coins or Bitfinex HKG dropping coins or Dell deal and what not or if you ask a TA - some SMA or MACD turning bearish and what not. It could be also be a simple squeeze for some to buy a bucket load of coins (bitcoin is easy to manipulate that way). So there are multiple reasons.
I for one, have been on short side since 620ish July starting on a long term chart, based on my trading system. Just liquidated my position and put in a buy order at 475. Missed by 5 bucks, so waiting for it to go down more
