WHAT IS CAUSING THE BITCOIN PRICE DROP THIS TIME?

Yesterday was a very sad day for Bitcoin enthusiasts and investors around the world, as we were all witness to another massive price drop. It is not the first time this year that we see the Bitcoin value go below US$250, but there was a shimmer of hope when the digital currency managed to climb back to US$300 and higher a few days ago. But what could be the reason for this sharp price drop? We will try to find out.
RATHER POSITIVE BITCOIN NEWS FOR SEVERAL DAYS STRAIGHT
Over the past week or so, we have seen several interesting Bitcoin-related news headlines, both in crypto news and in mainstream media. After all the dust settled after the previous ‘Bitcoin Flash Crash’, everyone pointed their nose in the right direction again. And to be honest, there have been some interesting and positive announcements these past few days.
WINKLEVOSS TWINS CREATING THEIR OWN REGULATED BITCOIN EXCHANGE
When this announcement was made, it came as a bit of a surprise to most of us. We all know the Winklevoss twins are heavily interested/invested in Bitcoin, as they also plan to take their ETF to Nasdaq in the near future. Launching and running your very own regulated Bitcoin exchange is a whole different ball game though, but a lot of people have faith in Tyler & Cameron, so we’ll have to wait and see how they fare.
CNBC REPORT : BITCOIN IS DONE WITH ITS ‘TUMULTUOUS TEEN’ YEARS
It does not happen all that often we see a proper opinionated piece on Bitcoin in the mainstream media, as most journalists have no clue what they are talking about. But it has to be said that CNBC surprised many of us with this opinionated piece, and we can only applaud them for doing so. Positive mainstream media for Bitcoin even when the price does not hit US$1,000; who would’ve thought?

This post was published at Crypto Articles on January 29, 2015.