BTC Mysterious instant drop? - page 2.

shinharu10282016

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Quote from: pooya87 on January 11, 2019, 01:27:24 AM

have you tried zooming out of that chart and also panning to left size a bit and see other parts of the chart? obviously you haven't so go back to that chart and do these things and you can see that what you find "mysterious" has been the way bitcoin market has been fluctuating for nearly 10 years now. sometimes it is because of some small news (positive or negative) and sometimes it is just a small surge in buyers or sellers that pushed the price temporarily in a certain direction.
these movements are not significant as long as we are not breaking below any support line or above any resistance line.

Its so obvious he doesn't know how to read charts so he calls the sudden dump ' mysterious ' when the charts are saying it will obviously dump and all other altcoins will come dump as well.

The Sceptical Chymist

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Quote from: arnelandvik on January 10, 2019, 06:41:53 PM

omg, the rate is getting worse and worse, don't even know what to expect Embarrassed

Obviously you're somewhat new here, because this little snippet of a chart is nothing for bitcoin. Looks to me like someone is selling it in big blocks, but there aren't many buyers overall (or something to that effect, because I'm not a TA guys). And as far as the drop goes, it really isn't that much. Bitcoin has been at $3200 recently and has kind of just been bouncing around lately instead of latching on to a trend--though the trend is more or less down since the ATH in '17.

Hoping for the best in 2019, but as always I'll keep my expectations very low.

figmentofmyass

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Quote from: cellard on January 12, 2019, 11:21:55 PM

Well it's always sell the news and buy the rumor. In this case is nonsense from a consumer PoV. If the Jihan Wu news had anything to do it must have been internal movements, knowing the info before it was released must have triggered some big wallets.

The reality of things is that it isn't really relevant. Life goes on in Bitcoin regardless of who is running the big mining companies and whatnot. My take is that we are near capitulation and institutions want to enter bigly at a cheaper price.

nobody cared about the bitmain news. rumors were already swirling about the executive reshuffle a month or two ago. i also don't believe this is the last we're seeing of jihan's influence over bitmain.

"near capitulation"---so you're expecting to break the december bottom? how low do you expect? most people around here are still hopeful for a bull run, so i take that to mean we haven't capitulated either.

cellard

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Quote from: buwaytress on January 11, 2019, 01:11:19 AM

Quote from: cellard on January 10, 2019, 09:56:45 PM

There doesn't need to be some news on the press explaining sudden drops. Information is always asymmetrical, someone could have insider information and make a move before the rest go like sheep and sell, then the buy the dip. The very classic move in which market makers operate.

If anything, I saw that Jihan Wu left Bitmain, however that is positive news. Maybe someone related took a dump.

There's the possibility that is just a random whale cashing out for no reason, other than being closer to capitulation.

Also, information is always late, but not this late. There really was nothing that could be considered bad enough to trigger this flash crash, just as there wasn't anything good over a week ago to trigger that 10% spike (same jump, different direction).

The Jihan Wu rumours also were a week ago actually, and yeah, rumour mills always been busy but big investors do tend to react to that sort of anomalous news.

We should be used to this by now.

Well it's always sell the news and buy the rumor. In this case is nonsense from a consumer PoV. If the Jihan Wu news had anything to do it must have been internal movements, knowing the info before it was released must have triggered some big wallets.

The reality of things is that it isn't really relevant. Life goes on in Bitcoin regardless of who is running the big mining companies and whatnot. My take is that we are near capitulation and institutions want to enter bigly at a cheaper price.

goaldigger

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Quote from: nydiacaskey01 on January 10, 2019, 06:37:32 PM

I am not surprised to see the price of Bitcoin suddenly drop from $4,000 to $3,600 or almost 10% in a day. I expect this to happen every weekend so its not new. Expect the price to go down further in the next few days until Monday. But, prepare for more dips and drops because Chinese Lunar New Year is just around the corner. Usually price drops before the event and picks up right after.

Since the drop last December 2017, there are a full one year of a holiday and passing it doesnt makes sense. The price are not changing even if theres a holiday or not. It maybe dances a little bit then goes back to its marginal value or even deeper. I guess bitcoin really crashed when it reached its full peak then will go back on track again after regaining its stregth.

markdario112616

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Quote from: StarofBTC on January 11, 2019, 10:39:08 AM

There is no mystery about a sudden drop.

Yes, I agree that it is not a mystery. What is happening right now, can be considered as basic economic trend (Supply and Demand). Demand for Bitcoin is Low in which the supply is high. A lot people are selling their Bitcoin (which I think those who are panicking again) which results to price depreciation. Well it's normal in this type of industry. So, forget about this "mystery" thing about the price drop.

xuv500

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Quote from: dodgrad on January 11, 2019, 06:40:05 AM

Unfortunately, it looks like whales have not yet fully stuffed their pockets with cheap coins. Definitely someone is creating panic on the cryptocurrency market so that panicked inexperienced investors will sell their last coins.

Do they need more coins to buy in cheap?? The market is looking horrible and how long this bear will remain? there were rumors on the hard fork as it will change the fate of crypto currency after a long time but the market is still in reddish mode. That's the thing which is worried about.

StarofBTC

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Quote from: Coinifyx on January 10, 2019, 04:45:23 PM

[im g]https://i.gyazo.com/5a54055bbc1f2c2daac71883bfb6f67c.png[/img]

What caused this? How can the price be so volatile? Who is behind the market for real?

There is no mystery about a sudden drop. The market works only one way, there are people who want to buy and there are people who want to sell, if there are more bitcoins that are sold than bought than sellers drop the price to be able to sell quicker and if there are more buy orders than sell than buyers offer higher price purchase to be able to buy and increase the price. That is how the market works and that is all it has been.

An instant drop basically means that bitcoin was sold at a high volume at one big huge order and that dropped the price and of course some stop loss was broken and some bots sold for dropping the average and so forth but basically it all comes down to more bitcoins being sold all at once than bought which makes the price go lower in matter of minutes.

Oceat

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Quote from: Ararbermas on January 11, 2019, 06:01:46 AM

That is the previous pattern of bearish which is no need to worry because it's already done ,and as the matter of fact as of now market is gradually gaining strength to recover so buckle up and be ready for the new chapter of bull.

Did you notice the price before when it was at $4k and now it just dropped to $3.6k, how unfortunate is that? It seems that there is a huge movement in the market when it happens suddenly. The thought of bull run is now a bull trap, though it is really a normal scene in the atmosphere of crypto world but a sudden drop meaning there is something happening in the market.

gabmen

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What's mysterious about that drop though? We've been shown that kind of drop pretty much all year and for me, we shouldn't be surprised anymore even if it drops a little more. 2018 made me numb from these sudden dips.

dodgrad

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Unfortunately, it looks like whales have not yet fully stuffed their pockets with cheap coins. Definitely someone is creating panic on the cryptocurrency market so that panicked inexperienced investors will sell their last coins.

Ararbermas

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That is the previous pattern of bearish which is no need to worry because it's already done ,and as the matter of fact as of now market is gradually gaining strength to recover so buckle up and be ready for the new chapter of bull.

jademaxxiss012

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Quote from: bitcoin31 on January 11, 2019, 03:56:11 AM

It because they have some people who sell their bitcoin again.

A very rare and unique answer this maybe but yeah this sounds the very reason on bitcoin market price drop.

The recent market price drop has so many considerations like the exchanges that were being targeted by the hi jackers to which they could take more bitcoins and other altcoins then sell. This will make major market price drop in the market. If you heard the recent news there were some attacks being made from the hackers to which it relatively contribute to the selling factors of crypto in the market.

Bitcoinwaist

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Quote from: Coinifyx on January 10, 2019, 04:45:23 PM

What caused this? How can the price be so volatile? Who is behind the market for real?

looked like a bull trap? I think the bottom is $3k but I think the price in the short term will continue to go down from $3600. Very rarely will buyers after a crash get a pop in the price back up for easy profits. no easy $$ in crypto. Grin

bitcoin31

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It because they have some people who sell their bitcoin again. There is no mystery to this because it's normal for now a days because we always look see the value decreasing eveyweek. But it will be myterious if until mow the value of the bitcoin did not increase because what's everyone today is 2019 and we need to be as a whole to up the value of the bitcoin and to earn more money again.

Baofeng

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There's nothing mysterious here. Just speculators who have bought bitcoins with the price is around $3600 and just decided to book their profits. It's been the pattern for the last 6 months if I'm not mistaken. Although we wanted to see the price rise around the $4200 mark, there's a huge barrier in front of us. That's why it's hard to rely on TA at this market situations, most of the time TA will not show the overall sentiments and the incoming dumps.

pooya87

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have you tried zooming out of that chart and also panning to left size a bit and see other parts of the chart? obviously you haven't so go back to that chart and do these things and you can see that what you find "mysterious" has been the way bitcoin market has been fluctuating for nearly 10 years now. sometimes it is because of some small news (positive or negative) and sometimes it is just a small surge in buyers or sellers that pushed the price temporarily in a certain direction.
these movements are not significant as long as we are not breaking below any support line or above any resistance line.

buwaytress

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Quote from: cellard on January 10, 2019, 09:56:45 PM

There doesn't need to be some news on the press explaining sudden drops. Information is always asymmetrical, someone could have insider information and make a move before the rest go like sheep and sell, then the buy the dip. The very classic move in which market makers operate.

If anything, I saw that Jihan Wu left Bitmain, however that is positive news. Maybe someone related took a dump.

There's the possibility that is just a random whale cashing out for no reason, other than being closer to capitulation.

Also, information is always late, but not this late. There really was nothing that could be considered bad enough to trigger this flash crash, just as there wasn't anything good over a week ago to trigger that 10% spike (same jump, different direction).

The Jihan Wu rumours also were a week ago actually, and yeah, rumour mills always been busy but big investors do tend to react to that sort of anomalous news.

We should be used to this by now.

zhekinsp

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Quote from: Adriano2010 on January 10, 2019, 10:51:32 PM

Is possible some whales who do this again and again and they have enough money, and they love this situation because they make a lot of profit once make the price go up and down and up again. So why not who have money can profit from this situation and buy now and sell when high.

For the people who already bought the bitcoins few days earleir will hurt because for them they bought at high and selling for low?!

I don't support the people who are moaning for the price drops in very short term just hold and believe on bitcoin.

figmentofmyass

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ah, the classic "bart top". Cheesy

Quote from: BitMaxz on January 10, 2019, 06:48:17 PM

For now, I don't see any reason why the price drop an instant. I searched on google and news or even the market analyst of eToro (Mati Greenspan) doesn't know what is the reason behind the price drop.

the idea that there is a fundamental reason (eg "news") behind every price move is a fallacy. all we know is that a lot of coins were sold into thin books---nothing out of the ordinary for the bitcoin market. if demand were strong, buyers would have absorbed the selling and bought the price right back to $4k. the reason they didn't is simple: we're in a bear market.

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