BITCOIN PRICE DROP: So what happened?
I imagine most of you are wondering what happened earlier today in the crypto world since #BITCOIN dipped Nearly $600 USD over the course of one day!
If you look at the sell orders on #Poloniex or other #Exchanges you notice that during that time there were large sell orders during that time, possibly by Bitcoin whales. What counteracted it during that time the buy volume increased!
I imagine that quite a few people where waiting for bitcoin to drop at a rate similar to that, as it began to rebound with a loss at the time of this post of only in the 300 dollar range.
So it appears to be a price correction! No need to fear or sell bitcoin at this time in my opinion. I don't see it crashing down to under $1000 at this time with so many people interested in the platform and constant news articles.
Google trends is still showing great stride for Bitcoin
I would watch the market if heavily vested with bitcoin, but my personal opinion sees it reaching records we could never dream of!
Volume is simply transactions scale denotes more than buy or sell side when take with price action and the dip buyers are less important than the profit takers in this case. On our toes now this is point of inflection!
Agreed!