Bitcoin's value drops by 30% in one week - Dips below $39,000

[WYP]

Will this drop continue?



Read more about Bitcoin's value dropping by 30% over the past week.

 

[grec]

The major energy efficient Proof-of-Stake coins/blockchains Ada(Cardano) and Dot(Polkadot) have still taken a small hit but faired much better than their traditional Proof-of-Work alternatives, mostly holding their previous gains, might be indicative of the markets direction as a whole

 

[WYP]

The major energy efficient Proof-of-Stake coins/blockchains Ada(Cardano) and Dot(Polkadot) have still taken a small hit but faired much better than their traditional Proof-of-Work alternatives, mostly holding their previous gains, might be indicative of the markets direction as a whole

Hard to know. Ethereum are planning to move to POS in a few months and they are down further than Bitcoin ATM. Down over 25% over the past 24 hours.

It will be interesting to see how things go, but I will be glad to see crypto stop having an impact on the gaming market. I'm sick of this GPU shortage.

 

[Bagpuss]

I do hope all those morons who bought at the top of the curve, are now about to lose everything.


Parasitic scum, the lot of 'em.

 

[23RO_UK]

I do hope all those morons who bought at the top of the curve, are now about to lose everything.


Parasitic scum, the lot of 'em.

I'd go one further and wish for Mr Musk to have one of his moments, dump all the Crypto he has and see it free fall further.

 

[ET3D]

I do hope all those morons who bought at the top of the curve, are now about to lose everything.

I have less problem with those who buy than with those who mine.

 

[Damien c]

Not sure what is happening but I have some DOT coins on a site and it's dropped by almost 55% and now down only 22%.

Looking at the other coins it seems the majority are plummeting in value with most down between 10% to over 30% in some instances.

The only thing I can think is that it's because China have basically banned the selling and purchasing of Crypto.

From the BBC News Article.

Beijing on Tuesday banned financial institutions and payment companies from providing services related to cryptocurrency transactions.

https://www.bbc.co.uk/news/business-57169726

I'm keeping hold of what I have got as I fully believe the value will increase again, but some people will have had Millions wiped out until the coins go back up.

I am not an financial advisor but I know if I had the money, I would be buying a shed load of different coins such as ADA, ETH, Link, DOT, XRP, XLM, SOL, VET, EOS and BNB.

 

[grec]

Coincidentally, all of this value chaos has massively ramped up the mining pay rate on Nicehash, it worked out to around £5/day for a ~RTX3070 card this morning and is now back nearing the historic highs of ~£10/day as of this post