Current BTC price below 8K - page 8.

Quadrant75

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Quote from: davis196 on August 01, 2018, 07:21:58 AM

Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Why do people keep talking about that Winkelvoss twins ETF rejection all the time?This is old news.
The price is going down,because lots of crypto traders realised that this price increase trend won`t be stable and won`t last long,so they started to sell btc,in order to get some short-term profits.

I think you are right, the trend right now is most of the traders are on the short-term profit and they are not holding anymore that is why bitcoin's price can hardly break the $10k barrier now.

Reatim

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Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Nah, probably shorting bitcoin as this point. From $6K-$8.5K, traders make it looks like that we are going into a healthy recovery until the rejection and then they short it taking the profits with them. Just look at how we trade sideways leading up to another fall. If this is a bull run we wouldn't be trading like that in like 3 days. And then the perfect excuse comes in, the ETF rejection. And soon followed by the panic run causing the price to fall at $7500.

magneto

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I don't think that ETF rejection is really the primary reason, although it is definitely one of the catalysts in the current dump in the market.

I still believe that this is mainly just because of the fact that the markets are still in a period of bearishness right now. Although people have said that we're seeing the resurgence of bullishness in the market, I believe this is only going to be a temporary thing.

Expect markets to move mostly sideways instead of vertically in the next few weeks, with dips here and there. That's just how a bear market is. Even if ETF did get approved it would be very unlikely that bitcoin would all of a sudden break out into a bull market, imho.

harizen

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Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Keeps going down?

We just came from the rise after being strucked at $6,000+ for a matter of time. Good thing the price experienced like this so that others will not be deceived by their hopes that the rise that started recently is now the start of bull run going to the moon.

That ETF result thing isn't the main and primary reason why bitcoin price stopped it's momentum. Generally a normal market move on which some trend are being spoiled by a speculation.

patron bounty

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Quote from: davis196 on August 01, 2018, 07:21:58 AM

Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Why do people keep talking about that Winkelvoss twins ETF rejection all the time?This is old news.
The price is going down,because lots of crypto traders realised that this price increase trend won`t be stable and won`t last long,so they started to sell btc,in order to get some short-term profits.

there has been considerable asset sales in recent years.
they sell with little profit, what really happened with bitcoin? will at the end of the year bitcoin reach $ 20,000?

reliable

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Quote from: funchiestz on August 01, 2018, 05:05:17 AM

A second ETF application was rejected further and the market reacted more to it than the first...

It is unfortunate to see market at 7500$ as it had reached after so long 8k + and it was a good sentiment to move forward. But with this a small dip has taken place and might be it has to hold now at this rate for more couple of days so that it can bring back the positive sentiments back.

hugeblack

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The price has risen by $ 2,000 over the past week, and it fell by $ 500 yesterday "in reaction to ETF's news."
The news about ETF was not so bad and was limited[1] to a certain extent, so the effect was minimal.
If the rejection repeated in the middle of the next month, the downward trend would be substantial "to $ 5000."
The price now rebounds again at 7600 so all the rallies/dips in the next few days will be temporary.

[1] SEC Commissioner Supports Bitcoin ETF

jrrsparkles

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Quote from: davis196 on August 01, 2018, 07:21:58 AM

Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Why do people keep talking about that Winkelvoss twins ETF rejection all the time?This is old news.
The price is going down,because lots of crypto traders realised that this price increase trend won`t be stable and won`t last long,so they started to sell btc,in order to get some short-term profits.

This maybe the reason I think because there are lot of people were selling their crypto currencies to make some short time profits but I don't think the price fall will be severe.Hopefully the prices will get back to $8K again in a week or so,if you buy now buy more bitcoins as you can be ready for the December run we are going to see another new all time high like happened in 2017. Cheesy

STT

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Quote from: funchiestz on August 01, 2018, 05:05:17 AM

A second ETF application was rejected further and the market reacted more to it than the first...

If thats the real reason this could be an easy place to buy, depends on secondary reasons and speculations. The only ETF that matters really at moment is the one that finally announces in February because it relates to regulated Futures markets and has a far higher chance of passing review.

I dont know if that anticipation is already in the price but people are typically only looking to the immediate boost from ETF now I guess.

dupee419

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Quote from: davis196 on August 01, 2018, 07:21:58 AM

Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Why do people keep talking about that Winkelvoss twins ETF rejection all the time?This is old news.
The price is going down,because lots of crypto traders realised that this price increase trend won`t be stable and won`t last long,so they started to sell btc,in order to get some short-term profits.

And this is not new, we've seen BTC went even lower than $7k in the month of June, this is completely normal, haven't you been used to this? The price seems to go down and up, we should actually be thankful that even if it is a slow flow, we should be completely happy that it moved and did not stay at that mark, we should expect more ups rather than downs, this is normal and I'm sure it'll move up once again.

Phyrexia

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Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Neither, OKex.

davis196

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Quote from: ridertiger on August 01, 2018, 04:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Why do people keep talking about that Winkelvoss twins ETF rejection all the time?This is old news.
The price is going down,because lots of crypto traders realised that this price increase trend won`t be stable and won`t last long,so they started to sell btc,in order to get some short-term profits.

ridertiger

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Which one was it? I have not heard that one. Do you think they will accept CBOE?

funchiestz

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A second ETF application was rejected further and the market reacted more to it than the first...

ridertiger

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Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Topic: Current BTC price below 8K - page 8. (Read 2376 times)