Bitcoin's price dropped down to $8,400 today. Wanna know why?

UNOE

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This is personal

Quote from: aplistir on September 24, 2019, 12:29:12 PM

Yep, OR because google published news about their working quantum computer, which was used to solve a problem that normal computers would take 10000 years to solve.

Yes, I do know it is not even close in being able to crack bitcoin, but such news can be worrying to some bitcoin holders.

Bitcoin value does reach to news as you would expect it to.

Even on CNBC the news reporters were arguing with themselves on the price and why it was spiraling down.
If you want a link to it then just ask and I will post it. Cheesy

peter0425

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Since I have crossed the forum and read lot of thread related to this what I “Wanna Know Why” now is how and when will bitcoin price grow again so for all to be fair

It’s tiring and frustrating that all are questioning this scenario when the truth is volatility make the market stronger

exstasie

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Quote from: ?? on ??

So Strong Hands did not sell bitcoin at
20K
19K
18k
17K
16K
15K
14K
13K
12K
11K
10K
9K
or now 8K.

Maybe you should just call the strong hands what they really are dummies. Kiss

More like they acknowledge they can't beat the market trading, or they don't trust exchanges. Strong hands held through $1200>>$150 and $32>>$2, and are sitting on huge profits today because of it. Doesn't seem that dumb to me.

I hear you though. I prefer to hedge by selling and shorting but not everyone is built for that.

Reid

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Happy to say that I agree with you.

I can see a lot of reasoning out here just to please themselves that there is something behind all of this dumped that had happened.
It was not even close to the worse dump in the history of bitcoin and they say it is all just a correction. Again with the reasoning just not to feel any guilt or regret.

We can expect more of this since FUD are being released every day. Strong hands will stay again. Cleaning those weak.

mk4

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Quote from: Ozero on September 24, 2019, 11:01:30 PM

Now it may well fall to $ 7,000. and by the New Year rise to $ 15,000.

And also, it could fall lower than $7000. Tongue

Quote from: Ozero on September 24, 2019, 11:01:30 PM

However, the fall of ethereum I am very unhappy. Recently, this coin did not repeat the price movements of bitcoin.

The market movement of alts in the recent price drop wasn't really new anyway. Probably like 90% of the time, alts have always fell harder then bitcoin when bitcoin dropped in price. And guess what? Surprise surprise! Alts fell harder. It's so lovely to see EOS and other shady coins/tokens drop almost twice as bitcoin did.

ethereumhunter

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Once again, bitcoin price gets dump so hard, and the price now reached $84xx according to poloniex. The red candle still appear on the market, and it seems, the price will stay at that price, or even it will get down for more. Maybe many people want to buy bitcoin at a low price, and some of them are panic to see the price is down too fast. If we take a look at the candle, seem the price will go down, and I think we need to be careful if we want to buy more bitcoin. Make sure we can get a low price.

bering

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I thought OP will explain about technical analysis why today bitcoin down at $8k range but apparently i was wrong about it and if we talking about volatile then every bitcoin users already know about it and it's quite normal that bitcoin sometimes suffer deep dropped such as today because as you can see volatile will always be belong to bitcoin itself however people might be will not be complaining if volatile itself dominated by uptrend such as several years ago

AjithBtc

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Quote from: jossiel on September 24, 2019, 11:55:23 PM

There has been no activity for the past month regards to its price so it would just be drop or rise. Well, the winners would still be the people who see long term on bitcoin and starts to see this as a moment of buying cheaper bitcoins.

Quote from: BitHodler on September 24, 2019, 05:20:11 PM

I'm aiming for $7k in the coming weeks. It might not be a very popular opinion, but it will provide a good buying opportunity nonetheless. It's up to the people to utilize that opportunity.

Possible.

If ever happens, I'll be quick to buy the dip.

Always the price move happens unexpected. This time there wasn't much of variation for a longer time period. This is all because of the increased dominance, even now the dominance stands high but the price has fallen as a result of manipulation. In my view this can be a impact based on the Bakkt, and it is a quick buy dip for a bigger profiting. This time this could go even low.

jossiel

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There has been no activity for the past month regards to its price so it would just be drop or rise. Well, the winners would still be the people who see long term on bitcoin and starts to see this as a moment of buying cheaper bitcoins.

Quote from: BitHodler on September 24, 2019, 05:20:11 PM

I'm aiming for $7k in the coming weeks. It might not be a very popular opinion, but it will provide a good buying opportunity nonetheless. It's up to the people to utilize that opportunity.

Possible.

If ever happens, I'll be quick to buy the dip.

Ozero

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Quote from: mk4 on September 24, 2019, 10:07:08 PM

Quote from: BitHodler on September 24, 2019, 05:20:11 PM

I'm aiming for $7k in the coming weeks. It might not be a very popular opinion, but it will provide a good buying opportunity nonetheless. It's up to the people to utilize that opportunity.

Eh. Might not be a very popular opinion because there's definitely a lot of permabulls in various bitcoin communities and you're probably going to get shunned by making a price prediction that's significantly lower thajn the current price, but $7k is very very realistic in my opinion. If you'd really think about it anyway, pretty much even $3k is still very possible. Just a bit less likely.

Of course, I didn’t want to see Bitcoin at the price of about seven thousand dollars at the end of the year, but today it again continued to fall and now, according to CoinMarketCap, its price is $ 8649, and ethereum - $ 172. Now it may well fall to $ 7,000. and by the New Year rise to $ 15,000. Everything is possible in cryptocurrency. However, the fall of ethereum I am very unhappy. Recently, this coin did not repeat the price movements of bitcoin.

arbiter5

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Quote from: pooya87 on September 24, 2019, 10:09:33 PM

being "young" is not the main reason for the drop. having small market is the main reason and the reason for a small market (meaning exchanges that have order books that are NOT packed with orders) is that the exchanges that we use are not trustworthy so people are always afraid of using them. they prefer to either stay away from trading there or to never leave an open order, instead withdraw their funds right away. that leaves the market open to manipulation and big swings whenever a large amount of buys or sells take place.

Yes I completely agree that it's mainly due to low liquidity. But one of the reasons why liquidity is still low is because of it being "young".

pooya87

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being "young" is not the main reason for the drop. having small market is the main reason and the reason for a small market (meaning exchanges that have order books that are NOT packed with orders) is that the exchanges that we use are not trustworthy so people are always afraid of using them. they prefer to either stay away from trading there or to never leave an open order, instead withdraw their funds right away. that leaves the market open to manipulation and big swings whenever a large amount of buys or sells take place.

mk4

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Quote from: BitHodler on September 24, 2019, 05:20:11 PM

I'm aiming for $7k in the coming weeks. It might not be a very popular opinion, but it will provide a good buying opportunity nonetheless. It's up to the people to utilize that opportunity.

Eh. Might not be a very popular opinion because there's definitely a lot of permabulls in various bitcoin communities and you're probably going to get shunned by making a price prediction that's significantly lower thajn the current price, but $7k is very very realistic in my opinion. If you'd really think about it anyway, pretty much even $3k is still very possible. Just a bit less likely.

Kotone

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Not so shocking actually. This happened already a countless time only those newbie will be surprise to see a n overnight down fall. I guess youre reason is correct, too much volatility plus the new system or provisions the government wanting to push contradict some of the decentralized mindset of the investors and crypto enthusiats thats why market playing like up and down chase here.

BitHodler

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Not surprised. It was hanging in the air. The only thing I am surprised about is the fact that Tether hasn't taken any significant number of tokens out of circulation, which they did last year.

As long as there is 4 billion USDT in circulation there is still liquid capital available to buy the dips, which I assume will happen with how people don't want to hold on to their USDT with how shady that company is.

I'm aiming for $7k in the coming weeks. It might not be a very popular opinion, but it will provide a good buying opportunity nonetheless. It's up to the people to utilize that opportunity.

TimeTeller

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Quote from: 1Referee on September 24, 2019, 01:04:59 PM

Quote from: Qcrypto on September 24, 2019, 12:16:04 PM

A perfect opportunity for those who missed to buy cheap. Now another opportunity presents itself.

I doubt that. People who wait for a "perfect opportunity" are usually the ones who are missing out the most. If they right now are waiting for $7000 to start buying, they will lower their target once the price starts to come closer to that $7000 level, because they then expect it to go down more. That's how these "perfect opportunity" buyers will keep missing out.

If you're really bullish on Bitcoin, you dollar cost average every now and then to stack up satoshis.

They are also waiting for the btc auction day.

https://www.newsbtc.com/2019/09/23/662k-in-criminal-bitcoin-to-be-sold-at-uk-auction-this-week/

The price might still go down but I have big faith in bitcoin, it will rise again after these cirmcumstances.
How many times have we experienced this kind of situation and yet btc is still on top?

1Referee

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Quote from: exstasie on September 24, 2019, 02:03:50 PM

This is probably a fake-out[/url] so be ready for the snapback, but.......the triangle everyone has been watching just broke to the downside:

Definitely not a fake-out. The volumes that are being generated are too high for this to be a fake-out. The support levels that were holding the price above the horizontal support of the descending triangle will now form massive resistance. We'll have a very ugly daily close, and with the month coming nearly to an end, we might even get a very ugly monthly close if it does so below the $8500 level.

Some people have been speculating about the price to break up because the mass was so overly bearish, but it seems that the increasingly bearish charts and the higher probabilities of going down were spot on this time.

Reatim

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Quote from: arbiter5 on September 24, 2019, 10:59:59 AM

Wanna know why? Because bitcoin and cryptocurrencies are currently fucking volatile. It has been volatile since it was first being traded on exchanges, and it will continue to be volatile for years and years and years to come. Because that's how the fucking market works for young, speculative, and low liquidity assets like bitcoin.

There. That should answer all the why bitcoin crash questions today, and for years to come. So stop asking this stupid redundant question. kthxbye

That’s why if you don’t know what VOLATILITY means then never dare to invest in Bitcoin and with all alternatives currency as well

This same problem may continuously asking whenever the price is in fluctuations ,but they don’t even thankful when the price grow up again lol

Anyway panicking will only make the value worsted.please bare and keep holding when this kind of season comes

LUCKMCFLY

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The prices are simply going down, when you look at the BTCUSDSHORTS chart you can clearly see the candle that has not closed it at 4h, the price is going down.

Many times they do it to buy cheap, in fact the best way to buy Bitcoins is cheap.

TensorCharts shows that they have sold an approximate amount of 14,252.34 BTC ...

pixie85

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Fucking volatile. It does that often. In May it dumped from 8000 to 6000 in a day. In June 13000 to 10000 also in a day. Then it went from 13000 to 11000 in July. Today in September 9700 to 8000 also in a day.

See any similarities? It happens almost every month. Stop bitching and panicking it's about time you've learned!

Topic: Bitcoin's price dropped down to $8,400 today. Wanna know why? (Read 445 times)