20% price drop 7 months before the May 2020 halving? - page 3.

Dart18

sr. member

Activity: 1400

Merit: 259

It is still far away.
So what could be the reason behind all this dump?
In my own humble opinion, it could be just for making ready for the next bull run.
They want it cheap, but they are having a hard time making people bite the FUD or the dump which they have done. Manipulating the bitcoin market could really be a difficult task. Grin

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: truehedge on September 29, 2019, 08:10:06 PM

yet I don't see any huge drops around December 2015 (between 2015-11-02 and 2015-11-09 it went from $501 to $297 but back then this was still considered "normal" I suppose).

it is all about the percentage-wise size of any movement not the absolute size. from $501 to $297 is a 40% drop so it can not be considered "normal" really even in bitcoin market. so if you wanted to compare it to this month's drop it is half that size.
in any case i don't think we can make this kind of comparison on small levels. we can compare them with a bigger perspective meaning expecting the big hyped up rise 1-2 months prior to the halving, a mini bubble by the time of halving, its burst right on halving and slow rise 1 month after it.

truehedge

newbie

Activity: 14

Merit: 4

Hello Everyone,

I suppose everyone is well aware that the next Bitcoin halving will be around May 2020 which makes it 7 months before the halving.

Previous two halvings happened on 2012-11-28 and 2016-07-09.

Looking 7 months before the halving in 2012 and 2016 I don't see a parallel for the current situation. I'm not sure how much of a market we can talk about in April 2012 but the December of 2015 probably was a valid and well quite developed market, yet I don't see any huge drops around December 2015 (between 2015-11-02 and 2015-11-09 it went from $501 to $297 but back then this was still considered "normal" I suppose).

So how is it different now? What actually triggered the sell-off and why it happened?

Is it just random walk and it will recover in 2 weeks?
Is it the futures market swinging it?
Is it the deteriorating economic conditions?
Something else?

To me this looks like the sell-off during November 2018 when we went from $6300 to $3100 in matter of 4 weeks which made absolutely no sense to me either.

Any thoughts especially with references are greatly appreciated.

Reference: https://en.bitcoin.it/wiki/Controlled_supply

Topic: 20% price drop 7 months before the May 2020 halving? - page 3. (Read 664 times)