Bitcoin - Stick A Fork In It - It's Done
As of November 15, Bitcoin Cash had a fork which seemed to trigger yet another wave of price declines for Bitcoin Cash, Bitcoin and Bitcoin SV. Bitcoin is now far less than the $6,200 it was trading at on November 14 before this fork occurred. Since the fork was in Bitcoin Cash, not Bitcoin, it is unclear why it should have had an impact, yet, apparently it did. Adding to the overall confusion of interested observers. This latest drop in price made many already awkward Thanksgiving conversations even more awkward. I remain of the view that it isn't a total coincidence that the meteoric rise in Bitcoin to almost $19,000 in December 2017 started just ahead of American Thanksgiving as college students came home and explained the potential investment to their family and friends and bitcoin futures were due to be launched. But now, over a year later, anyone who purchased Bitcoin has lost money (in US dollars). Not making money in a year is enough to demoralize some die hard HODLers, let alone curious potential investors who were largely drawn to crypto by the fear of missing out on the next great investment.
Bitcoin (BTC) is down 11.46% over the past 24 hours and is currently trading at $3,828.94 on Coinbase. BTC dominance is at 54.3% and the total cryptocurrency market cap is currently at $122 Billion.