RATE Group | Bitcoin’s Price Is Below $7K And (Some) Hodlers Aren’t So Happy About It
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Bitcoin’s Price Is Below $7K And (Some) Hodlers Aren’t So Happy About It

11 Jun Bitcoin’s Price Is Below $7K And (Some) Hodlers Aren’t So Happy About It

Posted at 22:52h in Bitcoin News by

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The price of bitcoin hit a two-month low over the weekend – and social media is alight with speculation about it.

While pundits don’t quite agree on the circumstances behind the plunge (with some blaming reports of a widening manipulation crackdown, the hack of South Korean crypto exchange Coinrail or just some pre-week selling), what’s clear is that the price move has acted as a kind of social thunderbolt for the community, spurring commentary from all sides.

Investor Alistair Milne ran a Twitter poll on Sunday soliciting input on what people thought sparked the dip – in perhaps a sign of the times, half of the roughly 3,700 respondents blamed “aliens” with 9 percent and 12 percent blaming the Coinrail hack and the CFTC subpoenas, respectively.

And as another observer pointed out, it’s not just bitcoin that felt the heat this weekend – many of the world’s largest cryptocurrencies by market…

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