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Bitcoin Price Below $300 USD and Litecoin Under $3.5 USD
5 Oct2014
The last two days we are seeing another serious drop of the price for both BTC and LTC and there is a lot of speculation going on for the reason why and what is causing this and looking at the prices of other crypto currencies you can see the same trend as well, most are going down in price. The big question however is if this is just a temporary dump caused by big whales that just want to drive the prices low so that they can buy cheaper coins and then cause the price to spike back to their previous levels. Miners are also having a hard time in deciding if they should keep mining with prices like that, especially if they are selling the mined coins immediately trying to get a faster ROI on their ASIC or GPU purchases. Investments in new mining hardware or cloud mining hashrate with the current prices are also considered very risky, so people are holding on. People that have pre-ordered mining hardware and are still waiting for it to arrive such as ASIC miners from KnCMiner or Alpha Technology and others are not happy at all. So the best thing you can do now is probably not to panic and just wait for things to calm down and see what happens, or is it…
- Publihsed in: General Info
- Related tags: Bitcoin price, crypto currency market, crypto currency prices, current crypto situation, Litecoin price
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