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The past few instances this has happened tended to follow some big news stories, like China banning ICO's or SK banning cryptocurrency exchanges, or the (falsif
by 52-6F-62 9y ago
The past few instances this has happened tended to follow some big news stories, like China banning ICO's or SK banning cryptocurrency exchanges, or the (falsified rumour) news Vitalik Buterin had died, some inflammatory SEC actions, etc.
People panic sold on a lot of that news. As good news came in, like the reversal of those decisions the price recovered.
This time it's bizarre to see, especially after the Goldman Sachs announcement yesterday. There hasn't really been much other news the past few days. Considering everything is down in almost equal proportions, it certainly looks like something else is at play. Panic selling piled on top of ___?
When it goes crazy, it goes crazy I guess...
edit: Apparently there was a South Korean exchange hacked: http://money.cnn.com/2017/12/20/technology/south-korea-bitcoin-exchange-closes/index.html http://money.cnn.com/2017/12/20/technology/south-korea-bitco...
So that could be a pretty big influence!