So many things to speculate on but as an interesting fact Bitcoin Has Been Dropping an Average of $110.43 per day since October 25th (Until Today)
Anyway, if Bitcoin doesn't start showing positive signals before the end of the week, I think we'll stay in the $7000 range until the end of the year. Nothing more to expect in 2019. With even a possibility to touch the $6000. And to make things worse, everyone started selling en masse.
Topic: Bizarre crash! What cause bitcoin crash?? - page 3. (Read 744 times)
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?
Could be a multitude of things but it's quite possible that people are trying to indicate a weakened market to dip the price down. There are never any clear cut reasons why something happens in the market unless you are the one forcing those market prices. If someone does tell you a reason and stands on it I'd be weary of that information. Just look at it as a buying opportunity
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?
that sounds like bagholder talk.
i think everyone who wants to sell should sell. the market can't move up until we shake out the weak hands. let the bottom sellers capitulate!
after 3 days of down trend and panic sells price reached a bottom where there were no more sells left so it reversed and now it is coming back up for about 2 days now.
so you're calling the bottom then?
I dont see no crash. There was crash on 21th November when Chinese president explained again what he said few weeks ago. After that price of Bitcoin stays same. Today is totally same as on 22th November.
ok, but on october 26th the market was trading at ~$10500. we hit ~$6500 yesterday. so the market dropped 38% in a month---if you don't call that a "crash" fine, but it's a whole lot of blood!
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
after price reached $10k exactly a month ago and couldn't break it completely and continue the rise, the trend was reversed. but as price came down back to $8k levels to consolidate and reverse back up, a panic sell started with a big dump on 22th which is probably manipulation that caused the big crash you are talking about that day.
That's a lot of technical analysis jargon, but I wouldn't necessarily disagree with you about it. I'm not sure what op is talking about exactly when he's referring to the last day or so, because bitcoin hasn't exactly crashed since it dipped below $7000. At the moment its holding steady, more or less.As to why it happened, I just think there's been a lot of selling by hodlers who got impatient with the market and perhaps got scared when bitcoin started to dip and then sold in a panic. That's a noob mistake, but a common one. I won't be selling a single satoshi, tho. Bitcoin will probably have a great year in 2020 and I'm hoping that it gets back to $10,000 at least.
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 exact and concrete reasons for this crash, one thing I realize about this with bitcoin was I am thinking that people always referred with predictions. It really contributes with our decisions, because it could somehow create a mindset. Early users can't handle their pressures and will easily get influenced on some news, making their own predictions without conformity on the recent market updates. That's how I view the current market, in contrast with the probable reasons why it crashes badly these few weeks ago.
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?
I dont see no crash. There was crash on 21th November when Chinese president explained again what he said few weeks ago. After that price of Bitcoin stays same. Today is totally same as on 22th November.
the only bizarre thing that i see here is your being about 1 week late to talk about the "crash" that has already happened and ended and we are already in the recovery mode.
not to mention that there are dozens of topics already talking about the crash starting when it actually happened.
not to mention that there are dozens of topics already talking about the crash starting when it actually happened.
Yes, we are now on the consolidation/recovery phase. Though still lower than expected, I hope this is a good road to recovery but a long December holiday is coming.I hope this will not result in massive cash out.
Though the market is crashing as @OP says, there is an opportunity here.
The only reason it crashed is because of the panic sellers though it is just a temporary decline. You shouldn't have to waste your time expecting a reason why the market drop. Why don't you just buy during this dip since the price is a little cheaper back then. Stop believing those news saying it's because of this country, that person said this and that. It's useless not unless some whales really dump quite a lot of his bitcoin.
Sometimes emotions can defeat our common sense friends. We all actually know this is just a market game. But when prices go down they still appear even though there is little sense of panic or anxiety in us. Especially for people who want to buy with little capital.I, who did not buy it, also raised the concern whether the price will go down again.
The only reason it crashed is because of the panic sellers though it is just a temporary decline. You shouldn't have to waste your time expecting a reason why the market drop. Why don't you just buy during this dip since the price is a little cheaper back then. Stop believing those news saying it's because of this country, that person said this and that. It's useless not unless some whales really dump quite a lot of his bitcoin.
Think of it like a crowd in panic. It takes one big push to make people run. You have to detonate a bomb or shoot a weapon and they all start running like crazy. People see them running and join up thinking there's something going on so they better not get left behind, but as they run more and more people start looking back and seeing there's nobody behind them. These people begin to slow down and finally stop.
The market is exactly the same. One whale sells and the rest follows not knowing the news but thinking "maybe those who sold know something" and then as they go more and more people read about FUD, manipulation, think about the fundamentals that have not changed. A month ago you were paying 9k for Bitcoin and now you are selling for 6? Why? Nothing happened!
This is the answer you were looking for. What caused the crash? TA at first (hard rejection at 10k), followed by a dump to 7,4k by some big whales. Everything below 7k were laggers. People who woke up one morning and saw they're down 2k USD on their coins since 2 days ago, panicked and sold without trying to understand what's going on.
The market is exactly the same. One whale sells and the rest follows not knowing the news but thinking "maybe those who sold know something" and then as they go more and more people read about FUD, manipulation, think about the fundamentals that have not changed. A month ago you were paying 9k for Bitcoin and now you are selling for 6? Why? Nothing happened!
This is the answer you were looking for. What caused the crash? TA at first (hard rejection at 10k), followed by a dump to 7,4k by some big whales. Everything below 7k were laggers. People who woke up one morning and saw they're down 2k USD on their coins since 2 days ago, panicked and sold without trying to understand what's going on.
Crash? I would not say so, it is only a temporary.
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.
the only bizarre thing that i see here is your being about 1 week late to talk about the "crash" that has already happened and ended and we are already in the recovery mode.
not to mention that there are dozens of topics already talking about the crash starting when it actually happened.
not to mention that there are dozens of topics already talking about the crash starting when it actually happened.
BTC was always number one on the cryptocurrency list, the total market cap is the determinant, no need to check the daily price for knowing this. After several broken attempts, BTC price failed to cross the $9000 resistance line on the chart. The news from China was the excuse of market pricing below the $7000 but I think price recovery will take the Bitcoin to the prices above $8000 again.
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?
It's not that big of an issue, and with the price being in such a tight spot right now, dropping 200 dollars is only 200 dollars, and just because those 200 dollars put it below the 7k threshold, doesn't mean it's a big issue.I'm still going to put some of the blame on China, I reckon they are very influential when it comes to the price of BTC, and the recent price movements can easily be done by some Chinese whales + the usual dip in price during the end of the year.
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?
In my opinion this is not an accident and you don't need to worry about strange things when the price of bitcoin goes down because this is one of the properties and habits of bitcoin that fluctuates, after bitcoin goes down like the last few days, and it is also very possible that the price of bitcoin will soon rise to $ 10 thousand.
I think now bitcoin remains the king of other altcoins even though prices are now declining because bitcoins greatly affect the prices of all altcoins.
the rise and fall of bitcoin prices is common, why you look surprised like never traded, bitcoin prices were once in the range of $ 5,000, $ 3000, even under $ 1000. and that is a normal thing in trading.
Mainly because of manipulators taking advantage of the recent news about China imposing more restrictions on cryptocurrency. It wouldn't crash that great if there were no whales manipulating and spreading FUD and FOMO in the investors. See that it would come to a reversal and soon, investors would buy in and negative pressure on the prices would immediately fade since there's no real threat to Bitcoin.
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https://www.digitalnova.tech/2019/11/ripple-prediction-xrp-price-prediction_49.html
https://www.digitalnova.tech/2019/11/ripple-prediction-xrp-price-prediction_49.html
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