What a start to enter into crypto world! Bought about 500€ worth of BTC and 500€ worth of STEEM. STEEM took even bigger hit (17%). I was trying to figure out why Bitcoin dropped so much and found some articles:
Investment bank Goldman Sachs is ditching its plans to open a cryptocurrency trading desk, reports detail
One other theory was related to Mt. Gox case, where hackers were found guilty of stealing 850 000 bitcoins and court ruled that they have to pay it back in FIAT money. To achieve that and not to disrupt market too much, they are selling them in portions.
What is sure, is that some big whale wanted to get rid of his Bitcoins fast. If you want to read more, check out this article:
What do you guys think? What was the main reason and what was reactionary ?Tags: bitcoin, crypto, cryptocurrency, market, steem
This post was written by Rain Ungert