Bitcoin records biggest drop in 11 months

[Hanno Labuschagne]

Bitcoin records biggest drop in 11 months

Bitcoin’s rally hit a speed bump as the world’s largest cryptocurrency witnessed its worst weekly decline in almost a year amid wider losses in risk assets.

The digital token slumped 20% this week, the most since the pandemic-fueled selloff last March.

The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, was down 23% for the same period.

[Bloomberg]

 

[markings]

30% up then 20% down, isn't that what markets do? Why is such a price drop even a point of discussion?

 

[saor]

30% up then 20% down, isn't that what markets do? Why is such a price drop even a point of discussion?

They just copy paste this bloomberg nonsense all the time. If you see a crypto article on mybb...probably Bloomberg. And the Jan drop was more so not sure where they come with this headline.

 

[Herr der Verboten]

[bloomdone]

 

[Unreal]

Good time to buy

 

[Mr Justice]

They just copy paste this bloomberg nonsense all the time. If you see a crypto article on mybb...probably Bloomberg. And the Jan drop was more so not sure where they come with this headline.

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Totally agree with you!!! Couldn't believe it when I saw the article.

Selfless plug: Check the bitcoin price live on https://kby.za.net see below the date and time.

 

[cyb3rt]

They just copy paste this bloomberg nonsense all the time. If you see a crypto article on mybb...probably Bloomberg. And the Jan drop was more so not sure where they come with this headline.

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They referring to the price drop, not percentage, 11k vs 13k.

Still pointless, but to clarify the Jan vs now dumps.

 

[haroldj]

When there is a major price increase, everybody wants to get in on the act, but when it starts to drop then only the negative investors are interviewed, next time speak to Michael Saylor: @michaelsaylor and hear what he has to say, my initial investment of 44 something is now worth 10 times that, remember in December it was 20K, 2 months later it has more than doubled that, if you understand how investment works this will be a major plus. I am no expert, but see the big picture.

 

[bromster]

The price drop is to be expected as vaccine rollout seems to be in full force and hopes for financial recovery slowly return to the market.

Investors will be taking their money out of safe haven assets to reinvest in the ridiculous equity bubble we are currently seeing.

This does not reflect badly on Bitcoin. The tides are just changing. The us stock markets are still ludicrously and unsustainably overvalued. They'll be back in a few months.