Topic: Have I missed something?? Markets tanked in minutes! (Read 1610 times)
It's futile to try and guess where the price of bitcoin is going. The market has gone up more than 100% in the last few months and it went up 100% in the 12 months before that, so a drop of a few percent is small in comparison. If you are going to be trading in any global markets you'll have to have a decent strategy, a lot of patience and nerve
I think Bitcoin price already was due for a correction. The news just aligns with it and becomes the narrative at some moment. Although we have seen Bitcoin price being resilient and resisting really major drops, I could imagine a drop below the $4,000 zone in this correction. Just HODL and perhaps accumulate some extra during extreme moves downwards. For further thoughts: https://steemit.com/bitcoin/@wekkel/bitcoin-chart-analysis-10-september-2017
There are so many factors that causes the recent ups and downs in the market.
1. China's news to regulate if not shutdown all local Cryptocurrency exchanges.
2. FUD speculations, people are saying things they want about the market which may sometimes makes others panic and dump their coins because they are afraid.
3. The weekend, may also be the factor of contributing the recent ups and downs in the market.
Rumors related China and all decisions it make fluctuations high enough for a few days to bitcoin. If we realize it, this includes a form of economic speculation. And it's a signs are October bitcoin continues to journey for higher rides.
Definitely caused by reports of China planning on shutting down all exchanges.
They've attempted to do the same thing back in 2015, but then later on lifted the ban. So it really seems dodgy to me that they are trying to do it again. If they are determined to ban exchanges then they would have done so in 2015, and not have reconsidered their decision at all.
Anyways, just keep in mind that this is unconfirmed news. So therefore, this is a great buying opportunity if you think the news source of Caixin is incorrect/unreliable and the news is false. If it turned out to be fake news then we could potentially see $5000+ levels after the dust has settled.
They've attempted to do the same thing back in 2015, but then later on lifted the ban. So it really seems dodgy to me that they are trying to do it again. If they are determined to ban exchanges then they would have done so in 2015, and not have reconsidered their decision at all.
Anyways, just keep in mind that this is unconfirmed news. So therefore, this is a great buying opportunity if you think the news source of Caixin is incorrect/unreliable and the news is false. If it turned out to be fake news then we could potentially see $5000+ levels after the dust has settled.
I would not go spreading fear and doubt, this is just how the markets work and it is going to be like that forever. Bitcoin has been a good currecny and those who are involved in it already know that these up down are normal and happens every now and then.
Hey everyone, I'm new on here but have started investing in crypto recently and built up a nice (albeit small) portfolio.
Just noticed that pretty much everything has fallen 10-15% in literally a few minutes. I know the weekend and China announcement caused drops over the space of a day but this is insane. Maybe these things happen often on a Friday... Profit taking day etc, and they'll correct in the next hour or so as people buy in this huge dip.
I've not seen anything anywhere near this in the few months I've been trading. Have I just missed them previously or is something fishy going on?
Just noticed that pretty much everything has fallen 10-15% in literally a few minutes. I know the weekend and China announcement caused drops over the space of a day but this is insane. Maybe these things happen often on a Friday... Profit taking day etc, and they'll correct in the next hour or so as people buy in this huge dip.
I've not seen anything anywhere near this in the few months I've been trading. Have I just missed them previously or is something fishy going on?
I would say that tanked is a strong word. There are things that affect the price and it is still much higher than it has been since day 1. The price will go back up and there is really nothing to complain about if not, as $4300 is a quite respectable price considering the short life span of the commodity
Yes, because you dont have to wear it.
LOL. But at least you can wear gold; it's one of the 'features' of an actual, physical substance. You really can't do anything with a Crypto except spend it, or possess it. You can use gold for art, technology, medicine. In addition to all that utility, it's a really old, really trusted store of value. Bitcoin is just numbers, information in a database.
Yeah, it has grown a lot, in price, but why? What has changed that suddenly makes bitcoin so valuable, that we have reached these price levels? This is the same bitcoin we have had, with a fee tweaks, since the beginning.
i heard that chinas was shutting down local exchange that i think one factor that we a have a big dip right know. But this is one factor I am looking for thats maybe the reasons why people are selling their coins right now, but it will not take too long, the price will be back again soon.
Searched the full google but did not found any new news about Bitcoin related bad news, but i think that china is trying fully to bring down the bitcoin price but he is getting failure as when ever he is selling other country is ready to buy it.
Well! I saw a news flash that China is planning crackdown on exchanges
https://hacked.com/flash-crash-crypto-world-china-plans-crackdown-exchanges/
https://hacked.com/flash-crash-crypto-world-china-plans-crackdown-exchanges/
Bitcoin just went on sale ... buy the dips
I do not think the hurricane problems in US are causing the fall. China and other Asian countries are the big holders of altcoins. That's where the cause will come from.
Yes, of course. The biggest holder of altcoin are the Asian countries. They invest their in altcoin to see things of benefits of having them. Altcoin contributes lot of coins and can be used wherever you want.I agree now, just hadn't seen this news before. This sounds worse than the ICO ban on the face of it but we'll have to wait and see, markets are picking up a bit now so hopefully it's a quick panic sell and wont carry on for too long... This is the second time in a week that I've bought hours before a crash, what a fool. Much to learn
Must be a problem on the exchanges. Profit taking never happens this sharply!
Atleast with novaexchange. Earlier today I was not able to see my wallet balance. Now I can see balance but it won't allow trade my deeponion
Such is the nature of crypto. One minute you are reaping huge profits, then you go out to eat, come back and the market tanked 10%. 
I'm learning that quickly haha, it's great fun
kicking myself for buying more just before the dip but that's how things go hey! 
Such is the nature of crypto. One minute you are reaping huge profits, then you go out to eat, come back and the market tanked 10%.
Hey everyone, I'm new on here but have started investing in crypto recently and built up a nice (albeit small) portfolio.
Just noticed that pretty much everything has fallen 10-15% in literally a few minutes. I know the weekend and China announcement caused drops over the space of a day but this is insane. Maybe these things happen often on a Friday... Profit taking day etc, and they'll correct in the next hour or so as people buy in this huge dip.
I've not seen anything anywhere near this in the few months I've been trading. Have I just missed them previously or is something fishy going on?
Just noticed that pretty much everything has fallen 10-15% in literally a few minutes. I know the weekend and China announcement caused drops over the space of a day but this is insane. Maybe these things happen often on a Friday... Profit taking day etc, and they'll correct in the next hour or so as people buy in this huge dip.
I've not seen anything anywhere near this in the few months I've been trading. Have I just missed them previously or is something fishy going on?
This is most likely because some whale or early adopter dumped a lot of Bitcoin thinking the price is going to crash soon. Can't blame them, really with the bubble we are currently in.
Get used to stuff like this happening, and if you don't have the stomach for volatility, you're in the wrong market. This is a dip of what, $250 or whatever? That's nothing. If it dropped by 50%, then that'd be something.
Think of it as a chance to get in at a cheaper price. And we may not be done dropping, either.
Think of it as a chance to get in at a cheaper price. And we may not be done dropping, either.
It's not that I don't have the stomach for it, makes it all the more exciting. Just interested to see peoples perspective on what is going on and causing these changes. I realise they happen all the time but this was the most rapid drop I've seen in such a short space of time... Although I've not been in the game for long haha.
There were much harder drops in the past.
it's all happen because issue about chinese goverment wanna ban crypto exchange and make crypto value all down because chinese is the most country that using crypto
Get used to stuff like this happening, and if you don't have the stomach for volatility, you're in the wrong market. This is a dip of what, $250 or whatever? That's nothing. If it dropped by 50%, then that'd be something.
Think of it as a chance to get in at a cheaper price. And we may not be done dropping, either.
Think of it as a chance to get in at a cheaper price. And we may not be done dropping, either.
It's not that I don't have the stomach for it, makes it all the more exciting. Just interested to see peoples perspective on what is going on and causing these changes. I realise they happen all the time but this was the most rapid drop I've seen in such a short space of time... Although I've not been in the game for long haha.
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