Traders in the bitcoin realm are approaching their charts this Monday morning to find that the bitcoin price has continued to fall over the weekend to a 30-day low of $462 at the BitStamp exchange.
This updates comes a mere four days following my last Price Watch post (read that here), in which it was then reported that the 30-day low was $503.
With a drop of over 40 points in a couple of days, traders and enthusiasts alike are abuzz over where things go from here.
In typical fashion, you have the two crowds shouting just as loud as the other side. The bears, convinced that bitcoin is doomed, and the bulls, who just see this moment as another opportunity to pick up more bitcoin.
Certainly, there’s an excitement factor to bitcoin volatility, but the community generally isn’t so happy to see that going in a downward direction.
We’re seeing a 25 percent loss of value in the digital currency over the past month, but that’s not to say the game is over by any stretch.
As most of you are aware, I’m not a bitcoin trader (nor do I have any ambition to be), so I’m not going to fill your mind with absurd possibilities on where the price will go.
But just like last time, I’d like for you to chime in on the comments. And instead of focusing on why the price has lowered, let’s talk a little about where we expect the price to be in the weeks and months ahead.