Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash See Losses

[Habiba Aziz]

Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent.

“I think we are gonna go to $5,500 – $5,700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess,” Woo said on May 25, adding, “Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down.”

Short-term skeptics including Woo are still optimistic in the mid-term trend of BTC, as it is possible for BTC to experience a bull run triggered by a mania set up by institutional investors such as pensions and hedge funds in the upcoming months. But, because robust custodian solutions are necessary for institutional investors to commit, it is unlikely that institutional investors come into the cryptocurrency market before the fourth quarter of 2018.

Full article on CCN https://www.ccn.com/bitcoin-drops-to-7200-while-ethereum-ripple-and-bitcoin-cash-see-losses/

 

[Old Man Crypto]

And then further drops. Bitcoin may be dead. We may have seen the final ATH in January. From here it may be that traders simply yo-yo the price to get the short term plays. I thought big money would mean bug demand. Now I think it means big manipulation.

 

[BitFit]

Bitcoin and crypto are slowly losing all the interest gained last year. All these so called big money companies entering the market? Nothing more than either fluff or just bad timing on their part. They’re all creating platforms and announcing new products to a market that is no longer interested in bitcoin. Will it come back? Wish I knew. Probably not this year though.

 

[The CC Forums]

Bitcoin and crypto are slowly losing all the interest gained last year. All these so called big money companies entering the market? Nothing more than either fluff or just bad timing on their part. They’re all creating platforms and announcing new products to a market that is no longer interested in bitcoin. Will it come back? Wish I knew. Probably not this year though.

Remember when bitcoin was $7,200?

Yeah, me too. Sunday.

 

[ambar33n]

I don't get it, why is it losing all its position it gained last year?

 

[Emma Lee]

Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent.

“I think we are gonna go to $5,500 – $5,700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess,” Woo said on May 25, adding, “Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down.”

Short-term skeptics including Woo are still optimistic in the mid-term trend of BTC, as it is possible for BTC to experience a bull run triggered by a mania set up by institutional investors such as pensions and hedge funds in the upcoming months. But, because robust custodian solutions are necessary for institutional investors to commit, it is unlikely that institutional investors come into the cryptocurrency market before the fourth quarter of 2018.

Full article on CCN https://www.ccn.com/bitcoin-drops-to-7200-while-ethereum-ripple-and-bitcoin-cash-see-losses/

If BTC falls below $7,000 and eventually to the lower end of $6,000, alternative cryptocurrencies and tokens, especially those with smaller market caps and volumes, will drop substantially in value, as tokens tend to experience intensified movements on both the upside and downside.

 

[Emma Lee]

it’s not even on our radar screen…. 50-100 more years” away. “I’m not worried at all” about robots replacing humans in the near future, he said, adding: “In fact I'm optimistic

 

[CryptoTC]

Hey look. Bitcoin above $7,200 finally.

How long till 20k?

Anyone...
Anyone...
Bueller?