Topic: Bitcoin dropped by $2k - page 8. (Read 1298 times)

Correct, but I don't know the timing is really bad. He could have waited a few more days before selling. I guess he needed to llquidate it today. Sadly the effect has rippled already and the market is now southside.

Maybe we may see bitcoin going at $8k. But I do think that there will be resistance at $7K and $6K that it will not go further below that price.

For me let's just wait for the perfect timing. We all know that Bitcoin still have some dips this early year but let's just hope and be patient for the price to rise up again. For you to be able to jump higher, you need to bend your knees. If the price drops, don't be discourage but instead take this opportunity to invest additional coins and then hold until you have reached the desired income. Just think that dips are normal in trading and this is our change to buy more Bitcoin and other crypto currencies.

that's no panic ?? 

We always experience this kind of situation about bitcoin price drops. It could go even lower or this time will not so a lot of issues happen this time. A normal situation rather in bitcoin that fluctuations should expected. Yes a good chance to buy bitcoin because of the value goes down.

I hope your right lol. I feel like if the price keeps going down then even some of the best holders will begin to sell which will set in even more panic tanking the price even more.

That aint the problem here. If they're having difficulty to log in then it will not affect price of since the bitcoin is on hold. I really think that FUDs are always the main reason of the token dips however it also beneficial to the traders since we are able to buy cheap coins during dips.

The recent drop we're experiencing is due to the dramas and issues revolving around the cryptosphere, same scenario as last year. Understanding the volatility of bitcoin, it is somehow discouraging to invest in a downtrend of BTC price, but if you will look at the bigger picture, for long term, it is a good opportunity to buy more BTC at a discounted price. Plan your entry point and look for signs of reversal.

I think that there is no panic in the market. The price dropped because the Hackers stole the API keys of Binance accounts, and actively sold the assets of other users. I think the price will rise soon.

They were not hacked. First of all this was a different kind of hack, the actual hacking took place in last 2 months and targeted various users by phishing and stealing their login details after that they saved their APIs only to try use them yesterday to pump other coin and after that cash out their own coins, which they did not do because Binance had security measures in place which blocked these transactions to appear.

I also agree with you, I think the same thing. it's those people who are always in panic when the price  of bitcoin drops a bit , they are selling their bitcoins for the reason that they are afraid that bitcoin will go down to its bottom in which I don't think it will.happen.

One explanation is that the Mt Gox bankruptcy trustee is dumping a lot of BTC and BCH in the exchanges right now. According to available reports, the trustee is still in the possession of close to BTC168,000 and similar number of BCH.

the risk that bitcoin can bring and risk it about 2,000 usd.
Bitcoin's blockchain technology loses its appeal
The value of Bitcoin really lies in the blockchain technology. Over time, this technology is constantly being upgraded to increase security. This is a series of virtual currency in the world to compete with Bitcoin. Although Bitcoin still holds the upper hand, 150 new organizations around the world recently tested a new Blockchain version of Ethereum. This is a highly rated protocol that will change the game in the virtual currency world. So Bitcoin may lose its appeal in the near future.
My personal opinion!

Bitcoin $9,800 now   

well the 2k different for the drop of bitcoin is not something new and is nothing to worry about, a drop different worth more than this has happened earlier before now. with the users of bitcoin not being able to login into their platform/dashboard it will be of a good advantage to them because they might want to sell off the one which they have because of the fear of the fall... the price will fall but before this time next week it will definitely rice back to the price which it was earlier this wk ($11k)  

That's really small volume from the trading platform like that. I mean it's small in front of the market cap that has recently dropped from the market. Just because people were not able to log in into this platform doesn't mean that it dropped the volume dramatically. I mean come on how many of them might have been putting lots of money on the trades which can support the 2k drop. I don't believe that there is only one reason for this drop but there are many. It could be corrections, it could temporary unavailable platforms like binance etc and much more.

I do not think the bitcoin will fall so low, too much support to break before ...

The news of the 180k coins that the Mt Gox trustees still have to dump, might have influenced some investors decision to buy

now. They know, when these trustees dump these coins, the price will go down further and they also know the trustees are

dumping in batches. {6k coins, then 6k coins ..... and so on} So why are you going to buy expensive coins now, if you know the

price is going to go down lower? {The last batch was 18k coins}  

I don't think so. May be it is because of Binance issue or recent fud. I believe it will recover soon. Don't panic. Just hold tight.

Indeed, the reduction in the price of bitcoins is connected with the news about the exchange of Binance. After bitkoya other crypto-currencies began to decline. It is desirable that the market is more quickly stabilized.

CCN Reports -
Bitcoin Dips Under $ 9,500 In short, Recovered Market as Binance Hack Denied
Yesterday, on March 8,
bitcoin prices had dropped below $ 9,500 for a while,
sparked by Binance's hack rumors, Japanese government penalties on local bourses,
and massive bitcoin sales by Mt. Gox trustee.

referring to the above report,
I think how speculation risk influences market emotions
even Pump campaigns by trader groups are often faced with deadlocks,
when betting in such "rumors" situations.

we may be uneasy for the future,
when someone it comes to dissatisfaction
with some parties and try to linking BTC
with a series of trials such as "darkpool games", "Hackers", Viruses, money laundering and terrorists.
so some countries began to take drastic action against the BTC.

to relate the difficulty of logging in to the exchange platform
as the cause of the BTC value drop is small below 3%,
following the individual experiencing, to me is not alot significant,
if the majority is calculated may involve 1 or 2 platforms from hundreds of existing exchange platform networks
or perhaps at 5 for every 100 individuals.
anyway this year BTC still under high presure between speculate vs emotion in market Scenario,
but I still believe BTC will broken its record in 2020 and make a new record at USD50K / BTC.