[2017-12-22]Bitcoin plunges below $11,000 CNBC

BTCMA3IA

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Quote from: hugeblack on December 22, 2017, 10:46:36 AM

Bitcoin plunges more than 40 percent from its all-time high reached Sunday, according to Coinbase.
CME's bitcoin futures expiring in January reached 'limit down,' off 20 percent.
Stocks that have soared dramatically on speculation around their connection to bitcoin and its underlying blockchain technology also fall.

https://fm.c[Suspicious link removed]m/applications/c[Suspicious link removed]m/resources/editorialfiles/charts/2017/12/1513953722_bitcoinCoinbase1.JPG
Bitcoin plunged Friday, taking the digital currency briefly below $11,000 and down 44 percent from a record high hit at the start of the week.

m/2017/12/22/bitcoin-plunges-below-12000-on-coinbase-as-rout-accelerates-now-down-40-percent-from-record.html]Read more and videos

Is just an regulation....wait few months....EVERY YEAR in DECEMBER BTC AND ALT FALL!!

LOOK 2-3-4-5 YEARS AGO and see PROOF!!!!

DON'T SELL!! KEEP !!!
HODL!!!

kimochidesh

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No need to get panic, BTC fall is just a correction. Nothing is there to get panic to see 40%+ fall in just 2 days.... as it is quite normal to have such a vast fluctuation in crypto-market, we have been witness to 100%+ surges in many coin in few hours..... so 45% downfall is BTC is a just another best opportunity to buy BTC at this cheaper rate and to earn huge profits in just few days.

cryptorTUX

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Quote from: BitHodler on December 22, 2017, 08:14:44 PM

Stupidity of the mainstream media is kicking in.

I have seen a few pretty large local news channels state that one reason for the drop could be that .....com owner (don't want to give them any exposure) decided to cash out his Bitcoin stash entirely.

It's almost like they want to make noobs believe that the Bitcoin creator himself is cashing out, basically similar to what Litecoin's founder Charlie Lee did, but then for real. This ignorance is annoying and funny at the same time.

The owner of ....com has just a domain, and at the same time loads of coins, that's the only thing. There is no other significance to this individual at all, but that doesn't attract visitors and clicks, that's why the media twists stories.

Most of us know and understand that media has fake news, that they lie I can't understand if people are listening to them and trust them. Maybe some people that are brain washed by watching or reading their news everyday... I don't think that even satoshies addresses for bitcoin are publicly known, but anyway I doubt that he will cash out. Even the Winklevoss brothers never stated that they are going to sell when I was reading articles about them.

I think that people with big pockets if money in cryptocurrency won't cash out because they would cause significant price drop on one particular exchange even more than this one, they can only sell in small amounts and that's all they can do. I would sell myself if I was rich in Bitcoin because by selling I will be prone to taxation and it's easier to use services that accept BTC even if price is a bit higher.

BitHodler

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Stupidity of the mainstream media is kicking in.

I have seen a few pretty large local news channels state that one reason for the drop could be that .....com owner (don't want to give them any exposure) decided to cash out his Bitcoin stash entirely.

It's almost like they want to make noobs believe that the Bitcoin creator himself is cashing out, basically similar to what Litecoin's founder Charlie Lee did, but then for real. This ignorance is annoying and funny at the same time.

The owner of ....com has just a domain, and at the same time loads of coins, that's the only thing. There is no other significance to this individual at all, but that doesn't attract visitors and clicks, that's why the media twists stories.

cryptorTUX

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Quote from: Slow death on December 22, 2017, 06:50:00 PM

This is the big theme of the day, in all news channels are talking about it and I took a big fright when I saw the price today, it was as if I had caught a big shock... I confess I was annoyed because I bought bitcoin when the price was $ 17000, I should have been patient and wait to down to buy more bitcoins, missed a great opportunity.

Quote from: cryptogiirl on December 22, 2017, 02:37:22 PM

This is all part of the normal run, do not panic, do not sell...the price will rise and exceed the last highest point, patience is key to profits here.

this time it was a huge fall, it was a fall like altcoins of pump and dump

We should have predicted this before.... Nothing seems to be able to raise that fast last raise within month was to high. I am hoping guy from mccafe is right people might cash out for holidays I hope it continues to raise in future....

Slow death

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Leading Crypto Sports Betting & Casino Platform

This is the big theme of the day, in all news channels are talking about it and I took a big fright when I saw the price today, it was as if I had caught a big shock... I confess I was annoyed because I bought bitcoin when the price was $ 17000, I should have been patient and wait to down to buy more bitcoins, missed a great opportunity.

Quote from: cryptogiirl on December 22, 2017, 02:37:22 PM

This is all part of the normal run, do not panic, do not sell...the price will rise and exceed the last highest point, patience is key to profits here.

this time it was a huge fall, it was a fall like altcoins of pump and dump

pixie85

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Quote from: 1Referee on December 22, 2017, 03:54:49 PM

I am pretty disappointed in how CME is going with their futures. It's the largest futures and options exchange in the world, but yet they get surpassed without any effort by their smaller competitor. If these markets don't start to pick up volume in the coming months, it will turn out to be a complete joke.

It's another proof that bigger doesn't mean better. In this case it was a matter of who will be the first.

Quote from: 1Referee on December 22, 2017, 03:54:49 PM

I however can't stop laughing at how many times these future markets are halting their trades each time price is tanking hard. That being said, it's funny how the media is handling current dump. They give the most idiotic old fashion politicians talk time, where they explain that they have been warning people to avoid Bitcoin, and that current drop is exactly the reason for that. They even felt sorry for people who lost all their money today, lol. Not sure what planet these pathetic beings are from, but one can never lose all its money, even not by selling at a 50% loss. Roll Eyes

It's a great test for them. They wanted to sail uncharted waters and they were allowed to. Unlucky for them there's a storm coming and the crew is made of cowards.

1Referee

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Quote from: richardsNY on December 22, 2017, 03:21:15 PM

Cboe's current volume for XBT/FB is a new record standing at 11,630.

I am pretty disappointed in how CME is going with their futures. It's the largest futures and options exchange in the world, but yet they get surpassed without any effort by their smaller competitor. If these markets don't start to pick up volume in the coming months, it will turn out to be a complete joke. I however can't stop laughing at how many times these future markets are halting their trades each time price is tanking hard. That being said, it's funny how the media is handling current dump. They give the most idiotic old fashion politicians talk time, where they explain that they have been warning people to avoid Bitcoin, and that current drop is exactly the reason for that. They even felt sorry for people who lost all their money today, lol. Not sure what planet these pathetic beings are from, but one can never lose all its money, even not by selling at a 50% loss. Roll Eyes

richardsNY

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Bitfinex went below the $11k level briefly, but it shouldn't have that much value considering that it was likely an attempt to trigger stop loss orders. It's good to see that at least for now the market has calmed down a bit, but it might also turn out to be a silence before the storm situation. I am quite sure that those having settled futures around peak levels are now desperately hoping to see the market shoot up before they expire, otherwise they end up losing big time. Future that are settled at current levels will boom for sure. Cboe's current volume for XBT/FB is a new record standing at 11,630.

Slugmonkey

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That price is at coinbase. It is still trading at an average of 13k usd at major exchanges right now. In a move when BTC caught mainstream media's eye prices touched 19500 usd, an expected and a healthy dip is being experienced; partly being aided by lackluster performance at CBOE and CME group's future trading. But still it was at 980 usd at Jan 1, 2017, which is 8% of it's current value. So no panic and as being predicted another bull ride is around the corner Wink

cryptogiirl

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The recent staggering growth of bitcoin could only mean a correction around the corner, and now some of us seem to be surprised that it is here. This is all part of the normal run, do not panic, do not sell...the price will rise and exceed the last highest point, patience is key to profits here.

Qartersa

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This is the saddest part that have transpired to me this week business-wise. I was hoping it would be the greatest bonus ever to get a $20,000 by Christmas time! Anyway, it is never too late to dream still given that we still have three days to recover. But as I have read, it has gone through the same thing in the past but it dramatically recovered thereby giving us around $19,000 in December 2017. If it will decrease further, I am afraid I am beginning to lose my faith in it because by then, it is again creating a huge turmoil to its investors.

ahmad21

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Quote from: LastJedi on December 22, 2017, 12:06:50 PM

With news like this you can see the panic for those who bought at $19,000 in the last week on Sunday when it was at all time high and now seeing this it can have the mass media types to write it off as a non investment sort of currency/stock for them.

Most of the people who bought bitcoin on $19000 were noob investors who don't know when to enter the market. If you know a bit about trading never catch a train that has already fled while you are still not in it

Quote from: (Melania) on December 22, 2017, 11:11:18 AM

Briefly plunged below $11,000 on coinbase, what about other exchanges? average price is at $14000 now and will rise again.

At that time it plunged near to 11000 at many exchanges except the korean and japanese exchanges which have magically been able to retain the value of BTC to more than 14-15k. While the whole market sits red its obvious that its a huge correction and market would recover soon.

Quote from: Kemarit on December 22, 2017, 11:53:35 AM

As per coinmarketcap, the price is still above $12,000 so I don't know if bitcoin touches below $11,000 as CNBC reported. But you have to look at the whole picture here and not just highlight bitcoin. The whole crypto is plummeting. What's the reason behind? I really don't know except that I presume that investors are just taking the profits after reaching all-time-high. So let's just say that's the only logical explanation from all of this bleeding. Unless there's really good interpretation that we are going to see in the next couple of days.

Quote from: (Melania) on December 22, 2017, 11:11:18 AM

Briefly plunged below $11,000 on coinbase, what about other exchanges? average price is at $14000 now and will rise again.

I usually checked coinmarketcap because it takes the average of at least 400 exchanges:

https://coinmarketcap.com/currencies/bitcoin/#markets

Coinmarketcap isn't really a good parameter for making your price about bitcoin because it has huge volatility around exchanges. Most of people affected are the new entrants of the market. They buy using their fiats. If you buy it using USD you have to pay a much lower price while if you decide to use KRW you will end up paying much more.

LastJedi

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With news like this you can see the panic for those who bought at $19,000 in the last week on Sunday when it was at all time high and now seeing this it can have the mass media types to write it off as a non investment sort of currency/stock for them.

Kemarit

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As per coinmarketcap, the price is still above $12,000 so I don't know if bitcoin touches below $11,000 as CNBC reported. But you have to look at the whole picture here and not just highlight bitcoin. The whole crypto is plummeting. What's the reason behind? I really don't know except that I presume that investors are just taking the profits after reaching all-time-high. So let's just say that's the only logical explanation from all of this bleeding. Unless there's really good interpretation that we are going to see in the next couple of days.

Quote from: (Melania) on December 22, 2017, 11:11:18 AM

Briefly plunged below $11,000 on coinbase, what about other exchanges? average price is at $14000 now and will rise again.

I usually checked coinmarketcap because it takes the average of at least 400 exchanges:

https://coinmarketcap.com/currencies/bitcoin/#markets

(Melania)

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Briefly plunged below $11,000 on coinbase, what about other exchanges? average price is at $14000 now and will rise again.

hugeblack

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Quote from: https://www.cnbc.com/2017/12/22/bitcoin-plunges-below-12000-on-coinbase-as-rout-accelerates-now-down-40-percent-from-record.html

Bitcoin plunges more than 40 percent from its all-time high reached Sunday, according to Coinbase.
CME's bitcoin futures expiring in January reached 'limit down,' off 20 percent.
Stocks that have soared dramatically on speculation around their connection to bitcoin and its underlying blockchain technology also fall.

Topic: [2017-12-22]Bitcoin plunges below $11,000 CNBC (Read 105 times)