For the umpteenth time Bitcoin has dumped double digits in a single day \u2026 again. Yet the FUD and panic still pervades the scene like a bleak cloud of despair that will be blown away and forgotten within a week.<\/p>\n
Since the big rally begun in early April, Bitcoin has fallen back into four figures four times already. Today\u2019s purge, which bottomed out at just below $9,500 according to Tradingview.com<\/a>, has already seen the asset start to show signs of recovery.<\/p>\n At the time of writing BTC<\/a> had made it back over $9,900 and was eyeing a return to five figures already. All of this has happened within the space of a few hours so it is a little strange that the panic and fear returns every time Bitcoin makes a big move to the downside.<\/p>\n As pointed out by co-founder & CEO of Ciphrex, Eric Lombrozo, people are already looking for explanations.<\/p>\n \u201cBitcoin price dips for the gazillionth time, prompting wild reports of the end of the world and causing pundits to invent explanations. Predictions: In a week, nobody will remember this dip anymore. In a month the same thing will happen again and people will panic again.\u201d<\/p><\/blockquote>\n Bitcoin price dips for the gazillionth time, prompting wild reports of the end of the world and causing pundits to invent explanations.<\/p>\n Predictions: In a week, nobody will remember this dip anymore. In a month the same thing will happen again and people will panic again.<\/p>\n — Eric Lombrozo (@eric_lombrozo) August 15, 2019<\/a><\/p><\/blockquote>\n\n