By 2 PM (EST) on June 11, 2018, Bitcoin, the number one cryptocurrency, had dropped almost $1,000 from its price, trading at $6,700. BTC is now trading at its lowest value since the middle of March 2018. One of the most significant questions remains what to do next – join the selloff brigade, hodl, or buy more Bitcoins?
Getting the Facts Straight
First things first, the facts need to be straightened out. Market manipulators most likely triggered the present sharp price dip. Retail cryptocurrency investors have shown that they have “thin skins” when it comes to weathering negative market signals. The response is usually the same – a massive dump which invariably sends prices tumbling.
All the manipulators required was a significant event to trigger the panic – and no, not the Coinrail hack. The recent U.S. investigation into four prominent cryptocurrency exchanges on suspicion of price manipulation was enough fodder to get the hysteria cannons firing. The result? Well, traders sell, major players buy BTC at much lower rates, and the price recovers, ensuring a hefty profit for the whales – or is it the bears? Could be both.
To Buy or Not to Buy Bitcoin
According to 99Bitcoins, the number one …
Read more –> click here all content is copyright Bitcoinist.
Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..
Powered by ABITCO.IN