• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
hours
Advertisement

Pop? Bitcoin Drops $300 In Hours as Bubble Fears Emerge

William Suberg by William Suberg
6 years ago
in News, Bitcoin, Bitcoin Price, Breaking News, News teaser
0
Advertisement
Advertisement

The price of Bitcoin has dropped from today’s earlier almost $1,200 high to under $940 – a comedown of $300 in a matter of hours.


Correction, Correction

The current press-time price of $987 per coin on Coinmarketcap represents a similar move to that which propelled Bitcoin above $1,000 from its mid-800s level two weeks ago.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

If the current price holds, Bitcoin will have still corrected upwards overall.

Turbulence of this nature will likely spell negative publicity, from ‘I-told-you-so’ criticism in the mainstream press to doom-mongering from more cautious commentators.

bitcoinaverage-historicalchart-thu-jan-05-2017-18-57-18-gmt0300-msk

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Nonetheless, while sudden shifts mean wins and losses for participants across the crypto sector, popular sentiment among its earliest proponents suggest they are simply part of a healthy move forward.

On Wednesday, Civic CEO Vinny Lingham even stated that frantic trading propelling the price higher too quickly is detrimental to Bitcoin long term.

“I believe that we first need to see it get to the $3,000 price range, which I forecast for later this year, and I believe this is entirely possible, but it must happen while maintaining low volatility and steady growth,” he wrote in a post.

Countries falling apart and pouring money into Bitcoin will not help the cause if it happens too quickly.

Lingham ‘Worried’ About Bubble

Earlier Thursday, as the price began to show signs of decline, Lingham tweeted that the significant increase in Google Trends searches for Bitcoin was a sign of “worry.” The data implies that the increases witnessed are a “new bubble.”

Yup…that's what I'm worried about… https://t.co/28eqNHZ86y

— Vinny Lingham (@VinnyLingham) January 5, 2017

Short-term profit taking has always been an issue for Bitcoin when it approaches or surpasses certain psychological barriers. Interestingly, the $1,000 line turned out not to culminate in mass profit taking. Rather, it was towards $1,200 when the slide occurred, indicating resistance at levels achieved in 2013 before the Mt. Gox exchange collapsed.

shutterstock_546644134

“If we see Bitcoin spiking too quickly to say $4,000+ well before the end of the year, then I’m certain we’re going to see an accompanying crash, and then we’re back to square one,” Lingham warned.

Elsewhere, altcoins were down across the board as Ethereum dropped over 10% and fast-growing Monero lost similar proportions.

Resisting the downtrend is Ethereum Classic, only shedding a few percentage points.

What do you think about the current price reversal? Let us know in the comments below!


Images courtesy of shutterstock, bitcoinaverage.com

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

William Suberg

William Suberg

Related Posts

Bitcoin

Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

15 hours ago
Bitcoin (BTC)

‘Nobody will Get Rich Investing In Bitcoin Ever Again,’ Crypto Analyst Sparks Debate

22 hours ago
Bitcoin Price Reclaims $28,000 As Core PCE Comes Cooler Than Expected

Bitcoin Price Reclaims $28,000 As Core PCE Comes Cooler Than Expected

1 day ago
Bitcoin BTC mining energy

Will Greenpeace Change Its Mind On Bitcoin Now? New Report

1 day ago
Bitcoin

Research Firm Breaks Down Impact Of MicroStrategy Purchases On Bitcoin Price

2 days ago
Bitcoin

Bitcoin Open Interest Shoots Up With Price Rise, Long Squeeze Brewing?

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Trending Projects

  • 5 Best Upcoming ICO List of March 2023

    1 week ago
  • Crypto Investment for Long term: 3 Coins to keep your eye...

    1 week ago
  • Cryptocurrency to invest in March 2023

    1 week ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Cardano and XRP Price Rally This Week and Dogetti Enters...

    2 hours ago
  • Is The Central Banking System On The Verge Of Collapse? Is...

    2 hours ago
  • Top Risk-Free Cryptocurrencies for 2023: TMS Network...

    2 hours ago
  • Mask Network (MASK), Conflux (CFX), and TMS Network (TMSN)...

    2 hours ago
  • Metacade’s Hot Token Presale Is About to End...

    3 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.