Mere Coincidence? Miners Meet Core Developers, Bitcoin Price Plummets

The repetitive phenomenon of the fall in price of Bitcoin, coinciding with the meetings between the miners of the cryptocurrency and its core developers, has attracted concern within the industry. The recent drop in price may have been influenced by certain other factors away from the meeting. However, ruling out the impact from the meeting could mean ignoring a pattern which is seen to have developed over time.
As the analysis of the possible causes of the recent loss in value of the cryptocurrency continues, considering both technical and fundamental factors and projecting the future of Bitcoin, some experts offered their opinions to CoinTelegraph.
Thus, Aleksandar Matanovic of EC District thinks that it could be just a coincidence.
Matanovic says:
‘I guess one explanation could be that it’s just a coincidence, the sample is small enough for it to be possible. Another explanation could be that certain holders of Bitcoin expect negative outcomes of those meetings and sell prior to them.’

This post was published at Coin Telegraph on 2016-08-04.