Explanation for the 710-750 drops? | Bitcointalksearch.org

FxR

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Quote from: richardsNY on November 30, 2016, 12:47:25 PM

Quote from: cengsuwuei on November 29, 2016, 07:40:24 PM

trend bitcoin price is now still up
so is several day later , bitcoin price is down only corection and concolidation price
and can up again until 20 december 2016, resistance price is 800dollar

Speaking about the price in recent times, resistance occurs as soon as the price starts coming close to around the $750 level. From there the price will most likely start heading down towards $720 where after that we'll see the price climb back up to around current levels again. Not sure how you come up with resistance being at the $800 level...

I agree that the current big resistance point is around $750. $800 is a bit ridiculous as we haven't come anywhere near it.

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Quote from: BitHodler on November 29, 2016, 10:37:15 AM

Quote from: serjent05 on November 29, 2016, 09:49:08 AM

People are trading and traders are taking advantage of the swing in price. So it is normal to see price increase and drops at the same time. What isn't normal is if you see bitcoin price skyrocketed in a short span of time or get dumped and instantly lowering the price of bitcoin. There sure is happening and some manipulation is obvious. Else, 1 usd to 50 USD swing is normal in my opinion.

Bitcoin has been subject to manipulation from the time it got its very first exchange listing. Exactly this is what is attracting the attention from people.

But what I have been noticing is that when the price is going up in a nice pace, that people are somewhat okay with it.

But as soon as the price drops a few bucks, people seem to panic and ask for reasons as to why the price has gone down, and how much further it will drop.

They apparently don't seem to realize that when the price can go up like $50 in a short time, that it can go down that much equally as quick. Rookies.

Well it has been established that bitcoin market is almost always a manipulation, reason, when bitcoin is sitting idle in some prices, hype will come in, spreading news even if it was a few months ago and just adding more hype on it. Then when price go up, they can then spread fake rumors and start to sell their own coin to their own buy wall. People then follow. They panic because it is a human nature, and they are not succesful in how to control their emotion yet. Indeed they are Rookies. Else they will know how to read chart, how trend flows and they won't worry much when bitcoin price go down instead they will be happy because they will scoop alot cheaper bitcoin.

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Quote from: cengsuwuei on November 29, 2016, 07:40:24 PM

trend bitcoin price is now still up
so is several day later , bitcoin price is down only corection and concolidation price
and can up again until 20 december 2016, resistance price is 800dollar

Speaking about the price in recent times, resistance occurs as soon as the price starts coming close to around the $750 level. From there the price will most likely start heading down towards $720 where after that we'll see the price climb back up to around current levels again. Not sure how you come up with resistance being at the $800 level...

FxR

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Quote from: jondeen707 on November 30, 2016, 07:00:25 AM

Quote from: FxR on November 27, 2016, 02:40:23 AM

Quote from: jondeen707 on November 26, 2016, 10:11:49 AM

Quote from: 1Referee on November 26, 2016, 08:39:20 AM

Quote from: pinkflower on November 26, 2016, 07:07:25 AM

Didn't anyone think that the market's irrationality is over and the price of BTC is now becoming more efficient and balanced? Maybe all the news, rumors and the economic need for BTC is reflected in the price right now. In short this is where BTC's price should be at.

I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).

Looks like it is diving a bit right now

I think, according to previous messages, that it's going to stabilize around $700-730 right now.

It did, I never doubted it would

Haha, you guys are pretty good at predicting, I must admit that.

jondeen707

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Quote from: FxR on November 27, 2016, 02:40:23 AM

Quote from: jondeen707 on November 26, 2016, 10:11:49 AM

Quote from: 1Referee on November 26, 2016, 08:39:20 AM

Quote from: pinkflower on November 26, 2016, 07:07:25 AM

Didn't anyone think that the market's irrationality is over and the price of BTC is now becoming more efficient and balanced? Maybe all the news, rumors and the economic need for BTC is reflected in the price right now. In short this is where BTC's price should be at.

I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).

Looks like it is diving a bit right now

I think, according to previous messages, that it's going to stabilize around $700-730 right now.

It did, I never doubted it would

cengsuwuei

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trend bitcoin price is now still up
so is several day later , bitcoin price is down only corection and concolidation price
and can up again until 20 december 2016, resistance price is 800dollar

BitHodler

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Quote from: serjent05 on November 29, 2016, 09:49:08 AM

People are trading and traders are taking advantage of the swing in price. So it is normal to see price increase and drops at the same time. What isn't normal is if you see bitcoin price skyrocketed in a short span of time or get dumped and instantly lowering the price of bitcoin. There sure is happening and some manipulation is obvious. Else, 1 usd to 50 USD swing is normal in my opinion.

Bitcoin has been subject to manipulation from the time it got its very first exchange listing. Exactly this is what is attracting the attention from people.

But what I have been noticing is that when the price is going up in a nice pace, that people are somewhat okay with it.

But as soon as the price drops a few bucks, people seem to panic and ask for reasons as to why the price has gone down, and how much further it will drop.

They apparently don't seem to realize that when the price can go up like $50 in a short time, that it can go down that much equally as quick. Rookies.

MWesterweele

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Quote from: FxR on November 23, 2016, 12:36:26 PM

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

It's basically needs of traders where they going to get profit? In trading they need the bitcoin price decrease so they will able to buy another bitcoin again and then waiting for the price increase again. traders are the reason why the bitcoin price is unstable or someone try to manipulate the price of bitcoin other says china is going to manipulate bitcoin price.

serjent05

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People are trading and traders are taking advantage of the swing in price. So it is normal to see price increase and drops at the same time. What isn't normal is if you see bitcoin price skyrocketed in a short span of time or get dumped and instantly lowering the price of bitcoin. There sure is happening and some manipulation is obvious. Else, 1 usd to 50 USD swing is normal in my opinion.

romero121

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Quote from: Immakillya on November 27, 2016, 09:23:40 PM

Its just a normal behavior of bitcoin price. No one cant hold their bitcoin for a long time so they sell it. Thats why we see the price drops. But you will see the price will rise in just a couple of hours. Bitcoin is strong right now it will recover quickly and no need to worry about it because thats the way it is. Get use to it.

As quoted its a normal happening of bitcoin, but as mentioned that bitcoin can never be hold long is unfair. When price grows without notifying users tend to sell bitcoins. This leads to added increase in price than the regular price increase. At the same it won't sustain long. Same is the reason for the ongoing price movement.

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Quote from: buwaytress on November 28, 2016, 12:54:52 AM

Quote from: pereira4 on November 23, 2016, 02:03:10 PM

Quote from: FxR on November 23, 2016, 12:36:26 PM

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

Idiots are scared when the price goes down a bit and panic sell, creating all those dips, which whales quickly buy taking profits. So it's always the same, idiots lossing money, while whales get more BTC and the overall price is still an uptrend since janaury 2015. We will be at 1000+ in 2017 for sure.

Or it could be just scalpers looking to take advantage of the psychological 750 wall. Buy at 725 and sell above 750 repeatedly. It has happened at least 5 times this month now. If you committed even 15% of your bank roll on each increment, you'd have made 20% profit or grown banroll by 3% from these waves.

Or equal to buying at 700 and selling at 840 approximately. Maybe not idiots after all?

You could be right. But there are many other plausible reasons and it all leads to an equilibrium in BTC's price. Wherever it goes, as long as the irrationality of the traders are gone, that is the correct price. Right now it's the correct price and it's stable with no crazy swings. The traders right now are rational.

buwaytress

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Quote from: pereira4 on November 23, 2016, 02:03:10 PM

Quote from: FxR on November 23, 2016, 12:36:26 PM

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

Idiots are scared when the price goes down a bit and panic sell, creating all those dips, which whales quickly buy taking profits. So it's always the same, idiots lossing money, while whales get more BTC and the overall price is still an uptrend since janaury 2015. We will be at 1000+ in 2017 for sure.

Or it could be just scalpers looking to take advantage of the psychological 750 wall. Buy at 725 and sell above 750 repeatedly. It has happened at least 5 times this month now. If you committed even 15% of your bank roll on each increment, you'd have made 20% profit or grown banroll by 3% from these waves.

Or equal to buying at 700 and selling at 840 approximately. Maybe not idiots after all?

Immakillya

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Its just a normal behavior of bitcoin price. No one cant hold their bitcoin for a long time so they sell it. Thats why we see the price drops. But you will see the price will rise in just a couple of hours. Bitcoin is strong right now it will recover quickly and no need to worry about it because thats the way it is. Get use to it.

Shiroslullaby

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If you can sell a coin and make $400 right now, thats a great deal of profit.
You can always buy back in if price starts to go up, and there is always the chance that price drops back to $700 or below and you can make $50 or so.
It all depends on your need for money, I guess.

1Referee

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Quote from: FxR on November 26, 2016, 09:04:59 AM

Quote from: 1Referee on November 26, 2016, 08:39:20 AM

Quote from: pinkflower on November 26, 2016, 07:07:25 AM

Didn't anyone think that the market's irrationality is over and the price of BTC is now becoming more efficient and balanced? Maybe all the news, rumors and the economic need for BTC is reflected in the price right now. In short this is where BTC's price should be at.

I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).

I'm planning on selling 1 BTC right now as that 1 BTC was bought during the $300 time. So I'm going to just take my profits and hope it won't rise much more. If it does, I still have BTC left in my wallet anyways.

Securing profits when you bought your coins at such low rates as you have, is always a good thing. The only thing is that you should never sell everything at once, but you seem to understand this more than well it seems.

Quote from: Gahs on November 26, 2016, 09:32:11 AM

Why would the price of btc dip so soon when lots of countries are complaining of fiat devaluation?

You mean people are complaining, right? It's because the countries these people are from, have barely any importance that they can add to the market at current point. Other than that, a dip just below $700 is not that big of a deal considering the current price is still a little bit on the higher side.

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Quote from: mrcash02 on November 27, 2016, 04:49:50 PM

Quote from: Skarner21 on November 27, 2016, 03:12:49 PM

The price of bitcoin right now is just a normal fluctuate this is just like the same as last year it will continue to drop but not so much and i think we will experience of 690 or below.. then the price will go back to normal in december and january near end of the month the price will reduce again this is just my own analyze relying in old movement of the price before..

I think it's very stable and normal at this moment, we reach a good stable price really fast. And now, the goal is to reach to $1000 and stay stable on that price or a bit below, like $900 would be enough. BTC price was already more volatile than now. Even if the price is oscillating a bit more, there is nothing to worry, in the end the coin price will go up as we already saw many times ago.

the price of bitcoin right now is not so fast.. we are seeing slow price movement and gradually decrease and i think 1k value is too far to be happen there is no new adoption or good news about bitcoin.. and also we heard about new about paris 20 stores that accepting bitcoin but i do not seen any good result for bitcoin. maybe we will see the 1k value next year mid june..

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Quote from: Skarner21 on November 27, 2016, 03:12:49 PM

The price of bitcoin right now is just a normal fluctuate this is just like the same as last year it will continue to drop but not so much and i think we will experience of 690 or below.. then the price will go back to normal in december and january near end of the month the price will reduce again this is just my own analyze relying in old movement of the price before..

I think it's very stable and normal at this moment, we reach a good stable price really fast. And now, the goal is to reach to $1000 and stay stable on that price or a bit below, like $900 would be enough. BTC price was already more volatile than now. Even if the price is oscillating a bit more, there is nothing to worry, in the end the coin price will go up as we already saw many times ago.

Skarner21

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Massive price drop coming...

The price of bitcoin right now is just a normal fluctuate this is just like the same as last year it will continue to drop but not so much and i think we will experience of 690 or below.. then the price will go back to normal in december and january near end of the month the price will reduce again this is just my own analyze relying in old movement of the price before..

Pierre 2

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People needed hot cash?
These kind of small drops are just some people who cannot stay in long position etc.
And dollar rise might be reason, too.

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Quote from: Gahs on November 26, 2016, 09:32:11 AM

Quote from: 1Referee on November 26, 2016, 08:39:20 AM

I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).

Why would the price of btc dip so soon when lots of countries are complaining of fiat devaluation?

Bitcoin is priced in dollars and the dollar has been strengthening since 2014. It makes sense to buy bitcoin if you live in a country whose currency is depreciating against the dollar, but bitcoin no longer makes sense for Americans, the mighty dollar is back.

Topic: Explanation for the 710-750 drops? (Read 2368 times)