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‘Retail Traders Are Getting Burned Badly’: Bitcoin Plunges In Worst Week Since 2013
It's falling apart for Bitcoin.
Depending on what exchange you're looking at, Bitcoin prices fell as low as $12,160-ish overnight, a near 40% drop from the highs hit last weekend ahead of the CME futures launch:
The declines come at the end of a week that saw bitcoin cash surge after Coinbase announced support for BCH, a move that looks to have been frontrun by at least some market participants. But bitcoin cash has now plunged from its highs as well:
Ethereum and litecoin are likewise ge
This was overdue and given the trajectory of the last month seems pretty ‘normal’. Retail investors are getting burned? Normal. People new to the space losing their money? Ditto. Sorry HB, but this is hardly the beginning of the end. Much more likely, this is the end of the beginning. Bigger players and more regulation will shape this next phase but its still early and the fundamentals are still overwhelmingly in favor of mass adoption. For those who have been in the space more than a month this is just another #BTFD moment. Look at the order books across multiple exchanges. The buy walls are already up. Haters still wanna hate but players gonna play.