Bizarre crash! What cause bitcoin crash?? - page 2.

SaShiRaJaVu

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Quote from: monineklutak on December 01, 2019, 12:43:50 PM

what I think is that if this is manipulation, if you think logically the price of bitcoin will go down and it might be stable at $ 6000- $ 7000 and will switch to altcoin before halving, because after halving all traders and investors will again dominate bitcoin

I did not understand what your trying to say, the volatility will switch to altcoin or everyone will switch their investment to altcoin before halving Undecided

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The bizarre crashes are nothing new and for the past two years the market was so stable and the people who are in the market for a long time will be surprised to see that kind of stability in the price and right now when we see these kind of volatility everyone is shocked Cheesy

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Welcome to the bitcoin market and enjoy the volatility.

monineklutak

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Quote from: illusion_ishita on November 26, 2019, 12:31:23 AM

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

what I think is that if this is manipulation, if you think logically the price of bitcoin will go down and it might be stable at $ 6000- $ 7000 and will switch to altcoin before halving, because after halving all traders and investors will again dominate bitcoin

Taskford

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Quote from: imstillthebest on November 29, 2019, 08:57:03 AM

Quote from: tsaroz on November 29, 2019, 08:26:15 AM

The current sharp fluctuations came from the news from China where firstly President Xi praised blockchain technology which spread a buying trend on Chinese people. Than came the officials statement about cracking down on crypto trade. There were also news of raiding of different crypto related companies and projects that has spread a fear on Chinese investors.

oh ? i notice that china are always involved whenever there are crashes like the one's we currently experiencing . on the times that bitcoin rises up china was also the main reason about its rise but sad to say that china was also the reason on why the price dumped too hard .

oh well , china is a huge country and most people here love's to enter business such as mining , crypto investing trading and more so that should not be questionable after all .

I think not all the times since there are certain particulars that contributed on the dump happening right now and not always the china contributes it since there are many fuds has been spread without the involvement of china, and maybe we should be optimistic the the situstion since fudster uses the china for long time and blame them when dump is occuring.

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since long ago bitcoin has been the number 1 coin in cryptocurrency until now there has been no altcoin that can beat bitcoin.
and I think the decline in bitcoin yesterday is a common thing for bitcoin. because bitcoin has high volatility. so this is not a crash. and bitcoin doesn't need a reason why prices go down or go up. bitcoin prices are very volatile and can go up and down suddenly and without reason.
yes but sometimes fud can also affect the price of bitcoin.

imstillthebest

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Quote from: tsaroz on November 29, 2019, 08:26:15 AM

The current sharp fluctuations came from the news from China where firstly President Xi praised blockchain technology which spread a buying trend on Chinese people. Than came the officials statement about cracking down on crypto trade. There were also news of raiding of different crypto related companies and projects that has spread a fear on Chinese investors.

oh ? i notice that china are always involved whenever there are crashes like the one's we currently experiencing . on the times that bitcoin rises up china was also the main reason about its rise but sad to say that china was also the reason on why the price dumped too hard .

oh well , china is a huge country and most people here love's to enter business such as mining , crypto investing trading and more so that should not be questionable after all .

tsaroz

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Quote from: Slow death on November 27, 2019, 03:30:29 PM

Quote from: philipma1957 on November 27, 2019, 11:27:37 AM

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why did we drop to 6500 price? that is a supporting number for major mining companies.

a big player with 70 watt gear turns a profit mining at that price.

so there is a push towards 5000-6500 price level as it is the break even number for big miners.

10k 20k 30k numbers are speculative numbers for traders.

so we have two forces one is always pushing to the breakeven price level.

the other is always pushing to the moon.

definitely John Mcafee should read your post and he would take the time to call the time traveler to tell us how mining will be in the future

I wouldn't call this price drop "Bizarre crash" for some unknown reason it's been very strange days in the last 7 days. The price rises a lot in few hours and dropped a lot many hours later, even for day trading it has become much harder to predict the price.

The current sharp fluctuations came from the news from China where firstly President Xi praised blockchain technology which spread a buying trend on Chinese people. Than came the officials statement about cracking down on crypto trade. There were also news of raiding of different crypto related companies and projects that has spread a fear on Chinese investors.

Slow death

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Quote from: philipma1957 on November 27, 2019, 11:27:37 AM

36 of 39 posts earned coin for posting here.

why did we drop to 6500 price? that is a supporting number for major mining companies.

a big player with 70 watt gear turns a profit mining at that price.

so there is a push towards 5000-6500 price level as it is the break even number for big miners.

10k 20k 30k numbers are speculative numbers for traders.

so we have two forces one is always pushing to the breakeven price level.

the other is always pushing to the moon.

definitely John Mcafee should read your post and he would take the time to call the time traveler to tell us how mining will be in the future

I wouldn't call this price drop "Bizarre crash" for some unknown reason it's been very strange days in the last 7 days. The price rises a lot in few hours and dropped a lot many hours later, even for day trading it has become much harder to predict the price.

hahay

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I think this is just a normal correction and whatever happens behind all the falls that have happened so far, at least this is just a cycle that is still in a reasonable stage when considering the temporary recovery that might happen next, because after all the prices will still fluctuate before entering a large dumping period which I feel will happen before halving.

exstasie

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Quote from: adaseb on November 26, 2019, 11:58:29 PM

There is also speculation of that PlusToken ponzi being sold off on Chinese exchanges. No idea if any of this is true but from what I understand the Ponzi was live for a while and it targetted many Chinese mainstream people.

That's what people have been saying about every dump since August. Cheesy

Not sure I buy it anymore. People are just digging for an explanation for all the blood.

If PlusToken really is that huge and is still saturating the market with supply, then we'd have to credit PlusToken for driving the rally to $14K in the first place. They own(ed) all those BTC and ETH because people bought the market up to participate in the Ponzi.

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Quote from: illusion_ishita on November 26, 2019, 12:31:23 AM

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

You can't really tell what is causing the price of Bitcoin to fall. But, mainly it has always been supply and demand. Most people believe that when the price of Bitcoin is low then it means that there is a lesser demand for it than there is to supply - when there is an increased demand for it the price will go up as well. There are lots of people that are trading Bitcoin every day, so anything can happen at anytime, there are times supply can get higher than demand.

There are other factors that can influence the price of Bitcoin - like regulatory changes, a decision that is made by the government. Next is political events and the media. Explaining all these is another long story, would be better for you to do your research on it.

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why did we drop to 6500 price? that is a supporting number for major mining companies.

a big player with 70 watt gear turns a profit mining at that price.

so there is a push towards 5000-6500 price level as it is the break even number for big miners.

10k 20k 30k numbers are speculative numbers for traders.

so we have two forces one is always pushing to the breakeven price level.

the other is always pushing to the moon.

btc_angela

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Quote from: watergold on November 27, 2019, 01:56:10 AM

Quote from: panganib999 on November 26, 2019, 11:51:14 AM

It is the number one. No altcoin comes close to BTC as a crypto. Its not really a crash anymore, BTC price has stayed at around 7k by almost a week now with no signs of comeback to 8k. The crash already happened when BTC dropped down to 6.5k but the bulls resisted and brought it back to 7.2k. Its a fight from now on whether BTC would continue to drop to 6k with Bears bringing the momentum back or bulls retaining the momentum and charging for 8k once again.

I think this happened last year even bitcoin at that time was under $ 6000 so this is purely not an accident or crash but this is indeed the condition of the market is going down and it has nothing to prevent it,
The current bitcoin of $ 7,100 could be that it will go back down to $ 7,000 but I'm sure this won't take too long as this will definitely make progress in the future $ 8,000 in December will be achieved.

You can't compare last year's crashed from $6k-$3k, there was a hash war going on that time between Ver's BCH and CSW Bitcoin SV. This time the news comes from China itself. We're just a couple of days before the end of the month, and I don't see $8k in the horizon. Maybe we could finished the year at a positive note on $8k-$10k, but it remains to be seen as the market price is really volatile at this point.

danherbias07

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You already have the answer.
It is uncertain. It is volatile. That is all the reason which is needed and it is final.
All the ruckus that is happening with different countries have just little effects on it.
New buyers might be shaken by this down trend and might have also sold in bulks. But that doesn't mean they could put it all the way down.

Wysi

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Quote from: watergold on November 27, 2019, 01:56:10 AM

Quote from: panganib999 on November 26, 2019, 11:51:14 AM

It is the number one. No altcoin comes close to BTC as a crypto. Its not really a crash anymore, BTC price has stayed at around 7k by almost a week now with no signs of comeback to 8k. The crash already happened when BTC dropped down to 6.5k but the bulls resisted and brought it back to 7.2k. Its a fight from now on whether BTC would continue to drop to 6k with Bears bringing the momentum back or bulls retaining the momentum and charging for 8k once again.

I think this happened last year even bitcoin at that time was under $ 6000 so this is purely not an accident or crash but this is indeed the condition of the market is going down and it has nothing to prevent it,
The current bitcoin of $ 7,100 could be that it will go back down to $ 7,000 but I'm sure this won't take too long as this will definitely make progress in the future $ 8,000 in December will be achieved.

But what is causing these crash? Don't you think this looks like a pattern as there will be a sudden pump and with couple of days the market will gradually go bearish then it will have a pump of say like $100 then there will be three dumps of $50 each. Basically there are no immediate dumps but rather gradual dumps to make sure users don't sell off and those manipulators can easily benefitted from these pumps and dumps which they creates. We need to look at the bigger picture of it.

watergold

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Quote from: panganib999 on November 26, 2019, 11:51:14 AM

It is the number one. No altcoin comes close to BTC as a crypto. Its not really a crash anymore, BTC price has stayed at around 7k by almost a week now with no signs of comeback to 8k. The crash already happened when BTC dropped down to 6.5k but the bulls resisted and brought it back to 7.2k. Its a fight from now on whether BTC would continue to drop to 6k with Bears bringing the momentum back or bulls retaining the momentum and charging for 8k once again.

I think this happened last year even bitcoin at that time was under $ 6000 so this is purely not an accident or crash but this is indeed the condition of the market is going down and it has nothing to prevent it,
The current bitcoin of $ 7,100 could be that it will go back down to $ 7,000 but I'm sure this won't take too long as this will definitely make progress in the future $ 8,000 in December will be achieved.

jossiel

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Quote from: illusion_ishita on November 26, 2019, 12:31:23 AM

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

There's no need to look for any other reasons, a whale probably sold tons of bitcoin but we have no idea who could that be? Every time the market plunges there will be no other reason why it moves downward.

From whales to smallholders following the trend who are scared of the FUD that the media shows.

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Quote from: karanggatak on November 26, 2019, 10:41:13 PM

I think the decline of bitcoin is not a bitcoin crash, it just fluctuates and that is a normal thing to happen to bitcoin. so I think we don't need to panic and say bitcoin crashes. bitcoin can definitely pump up again we just need to be patient waiting.
from the beginning until now bitcoin will still be the number 1 and main crypto in the cryptocurrrency market.

I agreed with with your reason for the dump in the price of bitcoin which is not a massive dump and this is not the first time we are experiencing such a decline and obviously it will not be the last time, personally I see the decline as a pullback of the price regardless of some of the stories we heard about China closing down some exchanges I don't believe the closure would have any significant impact on the price based on the numbers of bitcoin hodlers outside China thus there is no need to spread FUD and avoid panic because there is the tendency that the price would pump again which is synonymous with price behavior of bitcoin.

adaseb

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There is also speculation of that PlusToken ponzi being sold off on Chinese exchanges. No idea if any of this is true but from what I understand the Ponzi was live for a while and it targetted many Chinese mainstream people. Basically it was being promoted in public places and regular Joe's invested in it. They would be invited to seminars and the seminars would teach them how to make a Bitcoin account and buy PlusToken with it.

They actually seized operations in June 2019 when the top was created this year. And one reason why it might of been one source of the rally. Since people had to buy BTC first to buy PlusToken, it led to a higher BTC price. Similar to how ETH went epic in 2017 because people needed to buy ETH to buy ICOs.

Now there is word they are selling like 1000 BTC a day and been doing it for months. Again no idea if any of this is true, heard it on Twitter somewhere.

karanggatak

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I think the decline of bitcoin is not a bitcoin crash, it just fluctuates and that is a normal thing to happen to bitcoin. so I think we don't need to panic and say bitcoin crashes. bitcoin can definitely pump up again we just need to be patient waiting.
from the beginning until now bitcoin will still be the number 1 and main crypto in the cryptocurrrency market.

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Quote from: barota on November 26, 2019, 04:27:08 PM

i agree with you that everyone should keep their bitcoin and stop dumping because no one will benifit from crash for sure . if doubt spread in the market bitcoin value will find dificult for grow in the future . and number of investors will decrease too . i hope prices to recover 10000 usd per btc very soon

No accurate reasons why btc decline below $8k. Indeed with this current price better keep or hold for the meantime their btc, or for some they can accumulate when this decline happen. This is not surprising to all users since btc come up in this situation of price. Well, hopefully we will see a sudden spike of price on btc.

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