BTC Mysterious instant drop? | Bitcointalksearch.org

gabmen

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Quote from: South Park on January 16, 2019, 01:14:37 PM

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

snip

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

The fall is not mysterious at all the market just dumped very hard probably because a whale decided to create that dump, the same happened to ethereum, in just 30 minutes the price crashed in a similar way, this is not rare in this market and if you want to hold your coins or to be a trader you will need to get used to it but if you cannot then it could be better to look for other markets with lower volatility.

And it happens all the time. An instant drop is even more often than a good pump lol. It's no mystery and long time traders know all too well that there's nothing special about sudden dumps or pumps.

South Park

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

snip

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

The fall is not mysterious at all the market just dumped very hard probably because a whale decided to create that dump, the same happened to ethereum, in just 30 minutes the price crashed in a similar way, this is not rare in this market and if you want to hold your coins or to be a trader you will need to get used to it but if you cannot then it could be better to look for other markets with lower volatility.

gabbie2010

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This is the second time the price will drop to $3k6+ and ranges around that support zone for a long time even now which I strongly belief that some sorts of manipulation is ongoing underground however the bulls will surely take over and push up the price northward hopefully before the end of January.

elloco4ever

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Yes the downfall was never expected by anyone in this forum, as there was a hot topic going on with ethereum hardfork and bakkt launch. I was wondering for a pump of BTC as I was suppose to exchange few coin as I was in need of some cash but I lost nearly 10$ in a quick time.

chulos

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What is behind these price breaks and high volatility is hard to answer. In my view, investors have begun to sell their positions whenever the price has risen slightly,
but this leads to such a price drop that damages the market more than it helps. For some, it's a good chance to re-buy cheaper and then sell more expensive.

figmentofmyass

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Quote from: 1Referee on January 15, 2019, 06:53:59 PM

It's clear what needs to happen in order to have Bitcoin become a more liquid market. More legacy players, Bakkt could be a decent start.

be careful what you wish for. if bakkt starts becoming dominant re: liquidity and therefore starts leading the spot market, rehypothecation and commingling by bakkt's central counterparty could essentially create fractional reserve claims to vaulted bitcoins. in theory, that means bakkt might artificially keep bitcoin prices price down.

it doesn't have to be insidious or intentional, but it can happen just by virtue of how bookkeeping works in collateral-based wall street markets.

1Referee

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Quote from: magneto on January 15, 2019, 06:48:37 AM

Bitcoin's decentralisation makes it extremely volatile, and this reflects within these short term price swings. It will get better in the future as more adopters enter the market, though.

Not sure what decentralization has to do with this, because the coins are being held on centralized exchanges and from there dumped to tank the price.

Volatility is the direct result of illiquid orderbooks, which has been a problem for years, and I don't see it change unless legacy players run spot exchanges and from there attract traders who do trust them with potentially hundreds of millions. Coinbase as most regulated exchange has difficulties attracting capital, so imagine how that is for the exchange below Coinbase.

It's clear what needs to happen in order to have Bitcoin become a more liquid market. More legacy players, Bakkt could be a decent start.

crzy

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Quote from: bengsabeng on January 15, 2019, 10:18:05 AM

This is because there are investors who sell a lot of bitcoin, which causes the price of bitcoin to drop suddenly. there are two possibilities that can occur, he wants to play the price or he wants to stop investing.

For sure they are trying to manipulate the price, and this can be the main reason why it drops easily. BTC is a big coin, but behind this great technology there’s also a big people who keeps on moving the price. I still want to hold my bitcoin, even though a lot of manipulators are in the market now, because in time they will have no more choice but to pump the price and get profit.

Ronyx

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Indeed, it is confusing, but because bitcoin is volatile, it becomes reasonable with the decline, and because of fluctuations, you must be careful when you decide to buy or sell it.

bengsabeng

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This is because there are investors who sell a lot of bitcoin, which causes the price of bitcoin to drop suddenly. there are two possibilities that can occur, he wants to play the price or he wants to stop investing.

magneto

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With the market sentiment remaining extremely bearish, not all dumps have to be rational.

While people may be inclined to pairing every single market movement to a single piece of news, it's rarely what actually happens. Markets doesn't always act rationally. If it does, prices wouldn't move based on bull/bear cycles, but rather follow the long term averages.

It's not rare to see at all unexplained short term corrections, which could be a result of an early investor dumping their position, or simply because traders and investors panic dumping as a result of natural market movements due to the current fear and uncertainty within the bitcoin market.

It's honestly quite useless in terms of investing in the long run to pinpoint these events with other events. Bitcoin's decentralisation makes it extremely volatile, and this reflects within these short term price swings. It will get better in the future as more adopters enter the market, though.

b3j0

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Quote from: snipie on January 14, 2019, 12:47:18 PM

Quote from: b3j0 on January 14, 2019, 10:21:11 AM

of course what creates all this is the big whale, they can easily regulate the market. after yesterday they made a fairly high increase, now they make a very remarkable decline. wtf

Big whales and low ask vs demand are the two main problems not letting bitcoin price rise as it did in 2017.
Loosing more than 80% of the maximum value made people afraid from investing in bitcoin and altcoins.

if this large whale continues to dump investor interest in bitcoin will decrease, and this also results in decreased demand for bitcoin. I don't know the reason they did that.

figmentofmyass

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Quote from: fabiorem on January 14, 2019, 09:27:06 AM

The big miners are dumping their coins, to pay for electricity costs.

more specifically, they're shorting. this is what conventional metal miners and farmers do as well. in fact, it's the whole reason physically settled futures markets exist at all---so producers can lock in prices that cover their costs, even if it means missing speculative gains.

smart miners have definitely been hedging their operations by shorting over the past 6-12 months.

Quote from: fabiorem on January 14, 2019, 09:27:06 AM

Also, too many altcoins, which are dragging the price down. Most altcoins are scams, but nobody cares in turning them illegal, governments only focus in bitcoin.

It became a snowball.

i think it's typical market deflation. scams or not, altcoins helped to pump the market up. now they're dragging it down.

basty03

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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?

Well it's not surprising that kind of chart since bitcoin down last year we see it this kind of chart every day. It's our decision if we still hodl or still manage our funds even we see the loses. Im hoping that everything will alright again.

snipie

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Quote from: b3j0 on January 14, 2019, 10:21:11 AM

of course what creates all this is the big whale, they can easily regulate the market. after yesterday they made a fairly high increase, now they make a very remarkable decline. wtf

Big whales and low ask vs demand are the two main problems not letting bitcoin price rise as it did in 2017.
Loosing more than 80% of the maximum value made people afraid from investing in bitcoin and altcoins.

b3j0

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of course what creates all this is the big whale, they can easily regulate the market. after yesterday they made a fairly high increase, now they make a very remarkable decline. wtf

Oilacris

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I don't see anything mysterious on these kind of drops.It turns out that this is just a typical or an ordinary day where price can really move down or up on a short span of time
where it do leaves question in mind on whats the reason but its better not to stress yourself out.

Quote from: The Sceptical Chymist on January 13, 2019, 01:40:19 AM

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

We are hoping always for the best but we should really have this kind of expectation where we should not aim always for high prices.Even myself
didn't expect for this year 2019 to reach 10k.

fabiorem

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The big miners are dumping their coins, to pay for electricity costs.

Also, too many altcoins, which are dragging the price down. Most altcoins are scams, but nobody cares in turning them illegal, governments only focus in bitcoin.

It became a snowball.

arpon11

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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?

There are many factors that cause this type of heavy dump and it seems one whales that bought bitcoin below the current price sold the coins. The nature of cryptocurrencies market is that it is volatile and few people understand this volatility nature of bitcoin and invest as situation arises. For those that bought in December when bitcoin went down beyond $3200 are still in good profits no matter the dumps in prices. We should also invest with the amount we can afford to lose and not in another way.

darewaller

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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?

It is too early to know that Grin

. Yes, I'm always getting reasons for ups and downs of bitcoin markets from few crypto magazines but only after 3 to 4 days.

I just wonder how market is exactly following whatever things had happened by the times of 2014 and 2015 (up to first 14 days of January). If you remember, bitcoin got its 2014 and 2015's low by mid of January 2015, now also it seems that we are going to have similar market swings. But, from February 2015 onward, bitcoin market remained sideways and also in upward till December 2017. Hoping those best days to happen again now.

I am hoping that bitcoin will not break $3200 forever. It is holding around $3500 right now and it is really a crucial time as this might turn be an actual bottom for next 2 to 3 years. If market start rallying toward $4200 then we can sure about having $6500 before end of this March.

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.

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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.

WinslowIII

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I thought we already covered this - the buttfucks running the btc shitcoin forks are exiting the market, and they have like a million bitcoins or some such shit. This is going to keep going one step forward 2 steps back for the whole year probably.

Adriano2010

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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.

Juggy777

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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?

Hey it seems you're new in the world of cryptos, Bitcoins and other alts are very volatile and there's no definite timeline where they'll be stable or take a dump. It's very difficult to give you a name, but I believe it's whales, either one or many together who decided to sell their coins at high price, then again buy those at dips. I believe this is a temporary blip and I feel there's a good resistance at 3450$ levels, hence in few days we shall recover from it.

Link: https://www.ccn.com/what-caused-ethereum-bitcoin-cash-to-plunge-15-in-less-than-4-hours/

cellard

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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.

Just like the above said I think there is a big group of whales who sold a bit of bitcoin just to play the market.

I have read some articles that the price will drop until $3.5k and there is solid support at this level. Let's hope that it won't drop too much because I'm expecting improvement in the price this year.

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.

shinharu10282016

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Quote from: alexey14 on January 10, 2019, 07:38:56 PM

Quote from: shinharu10282016 on January 10, 2019, 05:46:24 PM

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?

Are you new here good sir? This is not mysterious at all since there are alot of people who are really like dumping prices like this so people can buy at dips.

Here is a good read: https://www.forbes.com/sites/billybambrough/2019/01/10/bitcoin-falls-suddenly-dragging-ripple-xrp-and-ethereum-down-but-tron-leaps-higher/#585102cf27df

15% of almost crypto prices went down. Sad

Quote

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

WTF u Say? are u fuking blind? BTC price dropped instantly and it was 100% Mysterious, U fking stupid.

DOG. BTC haven't reached the bottom. You sure talk big when you can't even do some simple research.

A newbie account with nothing asks and then answered but talks trash.

marcbitcoins

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This is natural in which no one can control the market movement and we cant control some people emotion too especially if some of them are easy to panic. We are still in the bearish trend so expect some of this down trend in the coming days until someone will trigger the bullish run.

vv181

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Quote from: shinharu10282016 on January 10, 2019, 05:46:24 PM

Quote

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

Make sense, in psychology perspective, the latest cryptocurrencies attack could heavily affect the bitcoin since cryptocurrencies and bitcoin market is correlated. Some people may decrease the level of trust toward cryptocurrencies since don't understand the underlying of the attack.

alexey14

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Quote from: shinharu10282016 on January 10, 2019, 05:46:24 PM

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?

Are you new here good sir? This is not mysterious at all since there are alot of people who are really like dumping prices like this so people can buy at dips.

Here is a good read: https://www.forbes.com/sites/billybambrough/2019/01/10/bitcoin-falls-suddenly-dragging-ripple-xrp-and-ethereum-down-but-tron-leaps-higher/#585102cf27df

15% of almost crypto prices went down. Sad

Quote

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

WTF u Say? are u fuking blind? BTC price dropped instantly and it was 100% Mysterious, U fking stupid.

ralle14

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The price dropped frequently last December and until now you're still surprised. The price is volatile because Bitcoin is being traded all the time. The exchanges have whales who can easily move the price whenever they want to. It's just another day in the Bitcoin world nothing new here.

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

It's not getting worse last month the price was low as $3.2k. It's like going back two weeks from now.

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

Let's hope that it won't drop too much because I'm expecting improvement in the price this year.

I'm expecting the other way around as much as I want to see the price recover we could go down even further.

BitMaxz

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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.

Just like the above said I think there is a big group of whales who sold a bit of bitcoin just to play the market.

I have read some articles that the price will drop until $3.5k and there is solid support at this level. Let's hope that it won't drop too much because I'm expecting improvement in the price this year.

arnelandvik

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

nydiacaskey01

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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.

KingScorpio

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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?

bitcoin is simply just an act manipulated by few big whales out of that these types of pump and dumps or stairs appear.

shinharu10282016

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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?

Are you new here good sir? This is not mysterious at all since there are alot of people who are really like dumping prices like this so people can buy at dips.

Here is a good read: https://www.forbes.com/sites/billybambrough/2019/01/10/bitcoin-falls-suddenly-dragging-ripple-xrp-and-ethereum-down-but-tron-leaps-higher/#585102cf27df

15% of almost crypto prices went down. Sad

Quote

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

Coinifyx

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Personal Text

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

Topic: BTC Mysterious instant drop? (Read 625 times)