Topic: Bitcoin drops sharply by about 300$ today! - page 2. (Read 663 times)

The drop has nothing to do anything with SEC.

This sharp drop was said to be caused by Silk Road Wallet Activity This Week Could Hint at Major Bitcoin Event.

Early Bitcoin proposals were rejected and they said those will be reviewed, anyone knows what happened to those reviews?

It seems you got the wrong idea, the sec is only monitoring the market they have no way to manipulate the market to avoid the volatility, and even then the sec only makes sure that  the investments  opportunities follow their rules whether it's a good investment or not is something that its impossible for the sec to regulate, so it seems that you have some mistaken ideas about how this market works.

Exactly, the price has dropped by 1,000$ within 24 hours for bitcoin. No FUD or bad news affects the market. But the price crash has caused many people panic and panic sell a lot. Hopefully at the end of September Sec can accept the ETF so the market can be rescued

The last week bitcoin and altcoin showed a green and stable move moving up slowly, but starting from yesterday they have fallen very large. I don't know what influenced the unstable crypto this year

The SEC has not yet taken a final decision it will be September 30 ! I think that this decline because of the purse which became active in which a lot of bitcoins. I think so !

Yes, it is still a safe to enter in this price for some reason's btc can drop further and possibly to rise again. This really means the volatility in the market is really active which cater the demand and supply. Well, I just think of the recovery in bitcoin will soon realized.

SEC cannot really solve the volatility issue nor are they responsible for checking it. It is function of demand and supply which are also influenced by news in the space

OP needs to stretch the charts display out to the month. because it 'looks' sharp on a daily chart but looks small on a monthly chart.

but if you cant scale the display atleast take the numbers and you'll see its less than 5%. again not big

OP needs to not cry when the price moves down. but to see it as "discount sale" oppertunity to buy more before things move forward.

..
now for some psychology and some tips
for a day trader to have a price that cannot move more than 2% for a few hours, is hell.. its boring. and not profitable. so if a price cant go up then it will move down just to get the markets active.

most people love a 5% movement. they can buy some more at a 5% discount and once it eventually moves forward they get 5% profit. just from geting to yesterdays price again. which is better than any bank account savings interest rate could offer right now even if you held it in a bank for 10 years.
(many banks only offer under 0.5%)

day traders are happy to buy an allotment at 5% discount and then leave it as a sell order at 5% profit

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anyway heres my tactic for all you fiat lovers
each time it drops a few % buy some.. obviously dont throw all your fiat stash into an order but just some. and then put it as a sell of profit.

EG (envelope math)
say you had $10k
break it into 10 x $1k amounts

buy $1k at a 5% discount(btc@$7k). and get 0.1428.(0.1424 after fee)
the set to sell 0.1374btc to sell at $7300 that way you get your $1k back after fees..  and keep 0.005btc thats $36 of btc


if the price goes down more and you dont get the $7300 again today. dont worry.. you still have 9 more allocations of profit oppertunity.. while that order just sits there as your profit for another day

if you keep doing this and repeat it. all them small 0.005 build up
and you keep some fiat to keep playing.

thats $36 from one allotment. do that once a day and thats 1.825btc ($13k) a year and you still have $10k to keep playing.. do it with more allotments it multiplies.

even if prices dont go up. dont worry. the price would need to tank down to ~$3-4k before you ran out of fiat reserves. but by that point you have 'averaged down' your cost per coin by buying at the discounts. which you wouldnt get if you put all $10k at $7k.

then its just the waiting game which as i said is much more profitable than bank interest.

i have found taking 2-5% and repeating. occurs makes more profit far far more often than throwing it all in and waiting for 20%-200%

$300 is not a considerable amount for the Bitcoin when it comes to the volatility. Bitcoin is a part of the wild crypto market and 10% to 20% fall in the price is normal. This market is still in the basic phase of development and hence it will take time to evolve over the period of time. You will notice such falls frequently until we gain some stability in the user base.

That's right, I didn't even think this would happen. because I just bought $ 1000 worth of Bitcoin. but never mind, I'm sure Bitcoin will rise soon, and my money will rise soon. I will still hold my bitcoin.

It really could have been worse, just 300 usd. i could say is a reversible number. the funny thing was the time it took me to do it. I had count less than 10 minutes

Honestly I always felt bad whenever bitcoin is hitting down low because we're all being affected in a bad way. This isn't good as it should be because we're being hit too. Well there's nothing that we can do but just to wait until it recovers. For some time we all know that bitcoin is gonna come back and. make a surge to rise again.

A look at the general market saw a drop of about $14B as I type, which means is possible some whales offloaded to buy back at a cheap price. Nevertheless, this drop is insignificant. Just $300 is still a safe zone.

everything un-expected has a possibility to happen to the market, that is the characteristic of volatility

some time ago bitcoin rose and then fell again quickly, I think this is because trading volume is recovering again, and then many people are using this time to sell again. they are not patient because they bored with the correction market.

I call this by taking advantage of short-term volatility.

The gravity of reality can be a bitch and what goes up must come down. There's always resistance on the uptrend and a not as much when it comes crashing back down to earth and this has a spiraling effect when weak hands start panic selling. I wouldn't sweat the small stuff though as these ups and downs are just part of bitcoin and we should learn to ride them out as there will be a hell of a lot more of this to come.

Well, this price drop was predictable, number of short position increased significantly yesterday. So, normal correction, in my opinion we are still in bull run till the end of September at least.

So do you think it's time for me to buy bitcoin? Bitcoin prices are declining, I am still wondering whether the purchase is beneficial or not? I hope to receive a reasonable explanation. I am still puzzled about the bitcoin's depreciation today

Yeah, i was thinking the same.

I am getting more surprised when it doesn't move that much in a day.

A 300USD  price fall is nothing in the world of bitcoin to be honest.