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Bitcoin and other crypto currencies are very volatile. Seeing a 5% movement in the market and giving it a title 'Sense of Panic' is not really great journalism

Bitcoin and other crypto currencies are very volatile. Seeing a 5% movement in the market and giving it a title 'Sense of Panic' is not really great journalism in my opinion.

radarsat1 8y ago
Indeed, I get so confused when seeing headlines like this, then I log into my kraken account (I only have like $100 worth of bitcoins but it's fun) to see what's up, and I see a graph like this https://i.imgur.com/kVW7XYx.png https://i.imgur.com/kVW7XYx.png which basically just shows that it's "plummeted" back to the same level it was a month ago, which it was at for two months.. I don't see a reason to sell. I originally bought bitcoin when they were $12, so when I see the articles about how much value it's losing my reaction is just kind of... well, it's still 100x higher than it was 5 years ago, and 10x than 2 years ago.. Anyways if you look at the global trend https://i.imgur.com/1w1X5bN.png https://i.imgur.com/1w1X5bN.png I would say that the rate of falling from its ridiculous speculative high last year is decreasing, so maybe it's flattening out for a while..
- adventured 8y ago
  The argument is that Bitcoin is still in a lower lows, lower highs move. That a sustainable bottom has not been put in yet, rather than that it's just bouncing around a bit. I.e. this move will breach below $5,774 and continue further down.
tim333 8y ago
Bitcoin has held up quite well - down only about 13% over the last week but ETH is down about 35% and a lot of the ICO tokens are very low. I started crypto speculating in October 17 and have been at it until a month or so but have stopped and sold out because there just doesn't seem much buying going on at the moment. I think people have kind of given up. Bitcoin I think is different because it seems kind of manipulated with the price held up by the Chinese miners or the Tether folk or similar.
sgt101 8y ago
Well 8% on the Turkish Lira made the front page of the FT as a record movement yesterday.
- buboard 8y ago
  if we follow that standard, bitcoin will be making frontpage every other day
ASalazarMX 8y ago
Funny how many financial headings are needlessly alarmist, using words like "panic", "plummet", "scare", "sharp". They look made more for scaring the masses than actually inform. This also happens with currency exchange rates, at least here in Mexico. Some times every news outlet reports a 15 cent slide as "the peso plummeting", seemingly inciting people to buy US dollars. Then, after a week or two, the exchange rate is not important anymore.
sdinsn 8y ago
Tell that to Turkey

Bitcoin and other crypto currencies are very volatile. Seeing a 5% movement in the market and giving it a title 'Sense of Panic' is not really great journalism in my opinion.

radarsat1 8y ago

Indeed, I get so confused when seeing headlines like this, then I log into my kraken account (I only have like $100 worth of bitcoins but it's fun) to see what's up, and I see a graph like this https://i.imgur.com/kVW7XYx.png https://i.imgur.com/kVW7XYx.png which basically just shows that it's "plummeted" back to the same level it was a month ago, which it was at for two months.. I don't see a reason to sell. I originally bought bitcoin when they were $12, so when I see the articles about how much value it's losing my reaction is just kind of... well, it's still 100x higher than it was 5 years ago, and 10x than 2 years ago.. Anyways if you look at the global trend https://i.imgur.com/1w1X5bN.png https://i.imgur.com/1w1X5bN.png I would say that the rate of falling from its ridiculous speculative high last year is decreasing, so maybe it's flattening out for a while..

adventured 8y ago
The argument is that Bitcoin is still in a lower lows, lower highs move. That a sustainable bottom has not been put in yet, rather than that it's just bouncing around a bit. I.e. this move will breach below $5,774 and continue further down.

tim333 8y ago

Bitcoin has held up quite well - down only about 13% over the last week but ETH is down about 35% and a lot of the ICO tokens are very low. I started crypto speculating in October 17 and have been at it until a month or so but have stopped and sold out because there just doesn't seem much buying going on at the moment. I think people have kind of given up. Bitcoin I think is different because it seems kind of manipulated with the price held up by the Chinese miners or the Tether folk or similar.

sgt101 8y ago

Well 8% on the Turkish Lira made the front page of the FT as a record movement yesterday.

buboard 8y ago
if we follow that standard, bitcoin will be making frontpage every other day

ASalazarMX 8y ago

Funny how many financial headings are needlessly alarmist, using words like "panic", "plummet", "scare", "sharp". They look made more for scaring the masses than actually inform. This also happens with currency exchange rates, at least here in Mexico. Some times every news outlet reports a 15 cent slide as "the peso plummeting", seemingly inciting people to buy US dollars. Then, after a week or two, the exchange rate is not important anymore.

sdinsn 8y ago

Tell that to Turkey