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The reason for BTCs drop.

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Interesting and good to know, but I wasn't aware that Russia had a significant bitcoin market presence, so I doubt this is causal. If anything, you'd expect that lots of them would be / have been funneling rubles into bitcoin and thereby driving prices up, no?

Also not sure about when that news first broke; does it coincide with the drop? (I know it's close, but not sure if early enough to be potentially causal.)
 
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Superfluous said:
Interesting and good to know, but I wasn't aware that Russia had a significant bitcoin market presence, so I doubt this is causal. If anything, you'd expect that lots of them would be / have been funneling rubles into bitcoin and thereby driving prices up, no?

Also not sure about when that news first broke; does it coincide with the drop? (I know it's close, but not sure if early enough to be potentially causal.)
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I am not pretty sure about the time.
I was inactive for a day, when I came back I found it dropping from $270 to below $200
luckily I sent $150 right before the 1 day inactivity i.e before the drop.
however, I am pretty sure that BTC would be affected by A WHOLE COUNTRY like Russia getting banned.
 
I think it's a possibility.

Think about being a new investor in BTC and seeing that it's been banned in the largest country in the world. You might reconsider investing in this virtual currency if you were skeptical to begin with and start selling it off predicting that it won't go anywhere.

If enough people were affected by this (I don't know how plausible this is) they could've started a slow decline which might have led to this landslide of a drop?
 
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PokeMMO said:
I think it's a possibility.

Think about being a new investor in BTC and seeing that it's been banned in the largest country in the world. You might reconsider investing in this virtual currency if you were skeptical to begin with and start selling it off predicting that it won't go anywhere.

If enough people were affected by this (I don't know how plausible this is) they could've started a slow decline which might have led to this landslide of a drop?
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for me I am investing.
already have some, that I'm saving
 
Ima bet it stays 150-225 for the next few months.
 
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SexayMistahBee said:
As long as it's not us panic selling, it's good for us; isn't it?
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yes
panic selling = price drop = you will sell for cheaper.
don't panic sell, wait for it to raise, then don't even sell it, spend it.
if you even had a chance to buy when it's low go ahead.
 
My friend gave me $5 so i could play on bitcoin gambling sites i waited a couple days before i deposited into any websites and when i log on my wallet its worth $3.5 :/ So i just went to primedice and went all in and lost :)
 
Upmarket said:
My friend gave me $5 so i could play on bitcoin gambling sites i waited a couple days before i deposited into any websites and when i log on my wallet its worth $3.5 :/ So i just went to primedice and went all in and lost :)
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LOL the smiley at the end of that tragic story is throwing me off.
 
Im sensing a climb to 250 lol.
 
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With the recent tension going on in Russia and their currency plummeting, I'm sure there have been quite a few who thought it would be a financially better investment to have their money in Bitcoins or any other currency than in rubles.
 
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