If you look at the chart, there were recent moves that were a lot more "strange" as the dump/pump was higher... I am recalling for example last christmas...
People just go with the flow and refuse to think about things... how many users on crypto-space? and from these, how many hold a decent amount of BTC? The total volume is nice but still a child in comparison with stock markets... So we come to the quick conclusion that there are just a few large holders and it is fairly easy for these market makers to do whatever they want with the price...
Have you thought that these chart gurus that are all over the web drawing lines and supposedly predicting the behaviour of BTC, are just spreading what the market makers want, it would also be fairly easy to send a few signs on the charts and then liquidate positions...
Topic: Bitcoin went from $5420 to $5117 in 2 minutes! Bubble? - page 2. (Read 735 times)
You must be kidding or you are new to Bitcoin. $300 bucks or more down in 2 minutes is so common... No need for panic... It could even drop back to 3k ish... Hold...
That's right, there's no need to make it a big problem and cause panic, we often experience that right? precisely now is the opportunity for you to buy again, if you have already managed to sell at a price of $ 5500 before, right now its the best time to rebuyI agree, it's just normal, there's some bad news, the market reacts, sell-offs in the horizon. Net effect? -$300. But people are now buying, we are just above $5200 now, I thought the news will really push the price below $5k at least temporarily. So there's no need to panic, the market is back and confidence is in full swing again.
You must be kidding or you are new to Bitcoin. $300 bucks or more down in 2 minutes is so common... No need for panic... It could even drop back to 3k ish... Hold...
That's right, there's no need to make it a big problem and cause panic, we often experience that right? precisely now is the opportunity for you to buy again, if you have already managed to sell at a price of $ 5500 before, right now its the best time to rebuy
Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?
How? Don’t you have an investment in BTC, Don’t I have also? We have millions of people that have invested in BTC, so where are those people’s investment in BTC if you say it is being controlled by one entity? Cryptocurrency dumping practice in the market is inevitable, so long we have people who are taking profits on a short term.This would not be the first time BTC will dumb so hard and pick up again, let me tell you, every dump in price of BTC is a blessing for someone, just like it is for me, I have been waiting for the opportunity I got and I gran=bed it immediately it came, I am sure, the value will pick up back speedily real soon.
No i don't think was a bubble, but maybe bitfinex and tether caused this and after all will be fixed the price will continue grow in my opinion, but we need more and more people to buy before bull run.
https://www.bitfinex.com/posts/356
https://www.bitfinex.com/posts/356
You spot it right. People here chitchatting here nonsense about what happened without finding what is the cause of this price action. Due to the illiquidity of Tether that used to cover up 850M USD loss. Then 900M USDT has no fiat backing in the bank that causes this tremendous slide down. But this kind of news killing the growth of blockchain technology.
You must be kidding or you are new to Bitcoin. $300 bucks or more down in 2 minutes is so common... No need for panic... It could even drop back to 3k ish... Hold...
That's right, there's no need to make it a big problem and cause panic, we often experience that right? precisely now is the opportunity for you to buy again, if you have already managed to sell at a price of $ 5500 before, right now its the best time to rebuy
No i don't think was a bubble, but maybe bitfinex and tether caused this and after all will be fixed the price will continue grow in my opinion, but we need more and more people to buy before bull run.
https://www.bitfinex.com/posts/356
https://www.bitfinex.com/posts/356
Manipulation through derivatives.
Too lazy to explain what platform you are referring to? BitMEX? CBOE? CME? Deribit? All of them combined?This crash has nothing to do with manipulation or the situation Tether is going through. It was all related to the overly bullish sentiment and the correction that was looming for a while now. In other words, the technicals.
The $6000 mark is too much of an obstacle to poke into right away. All that would happen is trigger a massive dump, which some large pockets weren't keen on and cashed out profits before the actual test.
Is the crypto bubble finally coming to a end?
maybe it's over
Why and HOW is it possible for bitcoin to dump that much that fast?
the price can fall fast, in the same way that the price can go up fast ... this crypto market has always been like this, you should already be accustomed to this
Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?
Is seriously you're asking that question? bitcoin is something decentralized
You must be kidding or you are new to Bitcoin. $300 bucks or more down in 2 minutes is so common... No need for panic... It could even drop back to 3k ish... Hold...
People always panic over nothing.
I am actually quite disappointed by this 'crash' because I expected more with how the news around Tether was the perfect bit of fuel for panic dumpers to unload. It's going to be interesting to see how the price will be holding with the weekend kicking in. If the bulls still defend $5000 as firmly as they have in the last weeks, then that's definitely an indication of increased demand.
I personally expect $4800'ish to be tested this weekend, where if that level doesn't hold $4300'ish should offer a sweet bounce that I'll long.
Going down to 5117 is not really "going down" we didn't had those prices only few weeks ago and now when we "drop" to 5117 we are calling it a bubble. We have to first learn what the bubble is and calling something bubble just because you want to really shows how much you know these things.
A bubble is something that has a super high price that should not be, learning from tulipmania when even a bulb of tulip could buy you a house in Netherlands was the time it really didn't make any sense, why would a tulip cost that much and then of course the bubble burst and you could buy a hundred of them for couple kilos of potato which of course put the people who paid high into shame. Now bitcoin went from only 5420 to 5117 which objectively not a big fall, do you think both of these things have anything in common?
A bubble is something that has a super high price that should not be, learning from tulipmania when even a bulb of tulip could buy you a house in Netherlands was the time it really didn't make any sense, why would a tulip cost that much and then of course the bubble burst and you could buy a hundred of them for couple kilos of potato which of course put the people who paid high into shame. Now bitcoin went from only 5420 to 5117 which objectively not a big fall, do you think both of these things have anything in common?
Bitmex was leading the dump while I was sitting at my computer, and the system was also unfortunately overloaded for the most part during the time that we plunged from the $5400s down to the mid 4900s at the lowest wick. Cascading liquidations did not help out, nor the fact that it was very, very difficult to put any orders in through the trading engine during that time. Finex news also attributed to why we dumped several percentage points, though that was only the spark needed for the fire to start burning. Several indicators pointed towards a top at that point in time and we were also in overbought territory before the dump.
It is very clear that one of the big whales has taken profits from the little gain the market has witnessing. I think we are going to have a strong support at $4900 and as such I expect a strong recovering any moment from now.
Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?
@Queen_Amber welcome to the volatile world of crypto’s it seems to me you have no knowledge of crypto markets, hence I would advise you to gather more knowledge about how crypto market works. The prices in crypto market are never stable they feed on sentiments, and the fall in prices was due to reported looses of Tether. No you’re wrong bitcoin is not a bubble and no one controls bitcoins, honestly $100 fall is not a big fall it will recover just hodl them.
For more information read this article: https://dailyhodl.com/2019/04/26/bitcoin-btc-price-stalls-on-indias-push-for-total-crypto-ban-and-850-million-tether-bombshell/
You must be kidding or you are new to Bitcoin. $300 bucks or more down in 2 minutes is so common... No need for panic... It could even drop back to 3k ish... Hold...
I would call that is a flash dump, but the price is back to $5000 again now. I don't want to be worried by seeing the chart that was showing bitcoin price getting down deeper because I am sure that the price will be getting up to the higher price again. And that will be a good moment to buy bitcoin in a few hours ago because the price can touch $4xxx price which we are difficult to see it again in the future.
Why and HOW is it possible for bitcoin to dump that much that fast?
That's the market in action, dude. Buying and selling, and it looks like there are more sellers than buyers at this particular moment--this is bitcoin, which is notorious for its volatility. It's gained and lost at least this much percentage-wise since I've been into it, which has been a few years now. This isn't exactly bubble behavior, just volatility. The bullish way the market is right now, I'd probably say that this is a dip you'd want to buy, and I don't often say "buy the dip". I think this is just a pullback, which also isn't surprising given how fast bitcoin rose in the past couple of weeks.
Price fluctuations of a few hundred dollars over a few minutes are commonplace for decentralized cryptocurrency. Therefore, such a decline in the price of Bitcoin should be considered commonplace. As proof of this, the current Bitcoin price can be cited, which, according to CoinMarketCap, is 5334 dollars. Most likely, Bitcoin will continue to grow in price. This year its relatively slow growth is expected, although some price spikes and a sharp drop are quite possible due to its high level of price volatility in its nature.
It was caused by a flash crash on Kraken:
https://cryptopotato.com/cheap-btc-bitcoin-suddenly-drops-1000-on-kraken-exchange-in-a-flash-crash/
https://cryptopotato.com/cheap-btc-bitcoin-suddenly-drops-1000-on-kraken-exchange-in-a-flash-crash/
Quote
In a flash crash event, bitcoin plummeted in price on Kraken today. Crypto’s largest asset quickly rallied, however, providing one massive lower candle wick for price action.
Bitcoin dove more than $1,000 on Kraken’s crypto exchange on April 25, as seen in the chart below. The price provided a catastrophic wick, from around $5,400, down to $4,357, and subsequently rallied right back up to a normal trading range. The whole whiplash event occurred within five minutes or so, involving a trading volume of more than 1,500 Bitcoin in that period, as can be seen on the following 30-minute candle chart.
Bitcoin dove more than $1,000 on Kraken’s crypto exchange on April 25, as seen in the chart below. The price provided a catastrophic wick, from around $5,400, down to $4,357, and subsequently rallied right back up to a normal trading range. The whole whiplash event occurred within five minutes or so, involving a trading volume of more than 1,500 Bitcoin in that period, as can be seen on the following 30-minute candle chart.
Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?
Strange how so few people wondered to ask when the opposite spike happened in twice the amount (20%) as opposed to barely 10% on this slide. If you're happy to take a 4k to 5k spike in a day, then you must be just as prepared to take a $500 slide in a few hours.
This is Bitcoin, this is crypto. It's volatile. Let's get over it any put on our long-term glasses, shan't we?
Also a sign of bullish market, higher low. It is true that in every price climb there is always a correction then a short sideway before going up again for higher high. Many people panic (probably newbies caught on the transition) but this is a natural occurrence in Bitcoin market. If only they are here for years, this plummet is nothing compare to the price decline last year.
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