I think this is a generic dump which we have experienced due to market situation and some whales trying to grab quick profit and as I have mentioned in my previous posts there are frequent price dumps followed by some sort of stability to make users believe that the dump was not created by whales wherein it's greedy whales who are using new tactics where they don't dump too much but they do it occasionally to earn enough profit instead of huge dump.
This seems to me to be the right explanation, the whales understandably want to get profits and since they are so powerful they will take advantage of that power to try to squeeze any profits from weak hands, but they know that the market sentiment is not what it used to be so if they drop the price of bitcoin too fast people are going to panic and are going to sell their coins before them so they are manufacturing the ups and downs in this weak market in such a way to not cause panic. 
Topic: Here’s Why Bitcoin Just Dropped Nearly 4% (Read 549 times)
the news from binance is clearly FUD, I don't know why the Cointelegraph media gave FUD news,
do they really know or are they really fooling themselves? very funny indeed seeing bitcoin sentiment lately
I don't think the news regarding Binance do that much to the market anyway it's just some misunderstanding and the legal action CZ took is not that significant to the market. It's more likely the pressure that comes from the China about raiding every crypto related maybe to prepare for the release of their own crypto and ofcourse in this case Binance is out from the list because even CZ has clarified himself and goes far to sue the person publishing such FUD. It's just people feel not safe anymore and therefore the bearish market after thing cleared out im sure it will be back to normal again. You know, dawn comes after the darkest night. do they really know or are they really fooling themselves? very funny indeed seeing bitcoin sentiment lately
in my opinion the current decline has nothing to do with google or cache current accounts. bitcoin decline at this time I think is the work of the whales who manipulate the price of bitcoin. and the decline as in my opinion is a common thing that happens to bitcoin which is very volatile. maybe the price of bitcoin will continue to decline until the end of this year.
hopefully next year the price of bitcoin starts pumping again.
May be your prediction is possible on only few days, because current situation you predict the upcoming trend on Bitcoin. But I hope it will raise next month so before end of this year we can see some good growing. Nowadays everyone waiting for upcoming pump so many peoples are buying the Bitcoin and altcoin, may be it will reflect the further days.hopefully next year the price of bitcoin starts pumping again.
Maybe we can see a possible bounce at nearly support approximately $6400 but again its hard to tell where is the bottom because bitcoin is a full of suprises and another reason why bitcoin drop so hard because some miners stop their operation and binance news recently.
do they really know or are they really fooling themselves? very funny indeed seeing bitcoin sentiment lately
in my opinion the current decline has nothing to do with google or cache current accounts. bitcoin decline at this time I think is the work of the whales who manipulate the price of bitcoin. and the decline as in my opinion is a common thing that happens to bitcoin which is very volatile. maybe the price of bitcoin will continue to decline until the end of this year.
hopefully next year the price of bitcoin starts pumping again.
May be your prediction is possible on only few days, because current situation you predict the upcoming trend on Bitcoin. But I hope it will raise next month so before end of this year we can see some good growing. Nowadays everyone waiting for upcoming pump so many peoples are buying the Bitcoin and altcoin, may be it will reflect the further days.hopefully next year the price of bitcoin starts pumping again.
Maybe we can see a possible bounce at nearly support approximately $6400 but again its hard to tell where is the bottom because bitcoin is a full of suprises and another reason why bitcoin drop so hard because some miners stop their operation and binance news recently.
The article writers of these days need some orientation and there should a rules to penalize them and the company they work for because i don't see any reason why google checking account which was purpose for the seamless of payment of the activities done on the google platform will be the reason for bitcoin dump in price not to mention it to be "bitcoin killer" as said by OP.
I wouldn't use a payment service run by Google, Ebay, Facebook, Amazon, Ebay or any of that lot.
in my opinion the current decline has nothing to do with google or cache current accounts. bitcoin decline at this time I think is the work of the whales who manipulate the price of bitcoin. and the decline as in my opinion is a common thing that happens to bitcoin which is very volatile. maybe the price of bitcoin will continue to decline until the end of this year.
hopefully next year the price of bitcoin starts pumping again.
May be your prediction is possible on only few days, because current situation you predict the upcoming trend on Bitcoin. But I hope it will raise next month so before end of this year we can see some good growing. Nowadays everyone waiting for upcoming pump so many peoples are buying the Bitcoin and altcoin, may be it will reflect the further days. hopefully next year the price of bitcoin starts pumping again.
in my opinion the current decline has nothing to do with google or cache current accounts. bitcoin decline at this time I think is the work of the whales who manipulate the price of bitcoin. and the decline as in my opinion is a common thing that happens to bitcoin which is very volatile. maybe the price of bitcoin will continue to decline until the end of this year.
hopefully next year the price of bitcoin starts pumping again.
hopefully next year the price of bitcoin starts pumping again.
anything can influence the decline but the most common cause would be manipulation by whales but what happen lately was only a minor decline so i dont think that whales are responsible for that but i think that was only made by natural events such as when normal people sell or cash out thier coins. i like the last part of your sentence and actually that was also my wish . i wish that btc can make a recovery next year just to make a change or difference
in my opinion the current decline has nothing to do with google or cache current accounts. bitcoin decline at this time I think is the work of the whales who manipulate the price of bitcoin. and the decline as in my opinion is a common thing that happens to bitcoin which is very volatile. maybe the price of bitcoin will continue to decline until the end of this year.
hopefully next year the price of bitcoin starts pumping again.
hopefully next year the price of bitcoin starts pumping again.
I honestly don't see why people are panicking over such a normal occurrence within the market.
It should be expected with the current lack of bullish sentiment in the market that in the short term, there will be significant dumps and a lack of momentum for rallies. The $8k support is going to get retested and I don't think that it will hold this time, potentially setting up for further losses down to around $6-7k where I think where there WILL be significant support.
There is no reason for panic - the halving will still bring significant price hikes, no doubt about it.
It should be expected with the current lack of bullish sentiment in the market that in the short term, there will be significant dumps and a lack of momentum for rallies. The $8k support is going to get retested and I don't think that it will hold this time, potentially setting up for further losses down to around $6-7k where I think where there WILL be significant support.
There is no reason for panic - the halving will still bring significant price hikes, no doubt about it.
If that scenario were true, here's what it would mean:
- Bitcoin holders for the most don't know what they're holding and don't understand that Cache/Calibra/whatever you want to call it doesn't in the least impact Bitcoin
- People are sheep and lemmings. They don't actually own Bitcoin, they've just paid for orders and account balances that they liquidate as soon as panic sets it.
Oh wait, I guess those two things are true. Hmm.
- Bitcoin holders for the most don't know what they're holding and don't understand that Cache/Calibra/whatever you want to call it doesn't in the least impact Bitcoin
- People are sheep and lemmings. They don't actually own Bitcoin, they've just paid for orders and account balances that they liquidate as soon as panic sets it.
Oh wait, I guess those two things are true. Hmm.
The majority is in it for the money and short term profit.
I always explain these moves to myself like this:
With every pump a group of investors come in. There are 3 types of them from the largest to the smallest fraction.
1. Newbies who don't know what they're buying. No experience in trading or some experience derived from forex and such.
2. Traders who are in it for some time and just want more fiat money.
3. Long term traders and holders.
The first two groups get out as soon as there's some red on the charts and group 1 basically gets raped by the market and exit with a loss, while group 2 profits from the loss of group one and/or exits with a small loss.
When the dust settles only the third group is left holding. Those people don't profit short term, but do profit every cycle, so they get big boost every 3-4 years.
You can see it on the charts. Every cycle ends with a higher low from the previous one and I believe this small bull run of 2019 will also end the same way, stopping somewhere at a low of 5-7k USD, producing another long term higher low along the trendline.
I think this is a generic dump which we have experienced due to market situation and some whales trying to grab quick profit and as I have mentioned in my previous posts there are frequent price dumps followed by some sort of stability to make users believe that the dump was not created by whales wherein it's greedy whales who are using new tactics where they don't dump too much but they do it occasionally to earn enough profit instead of huge dump.
Bitcoin traders woke up to some bad news Monday morning, as the price of the coin dropped by nearly 4%. The move brought the price down below the previously held support at $8,500 and left many wondering what caused the struggle.
Some have suggested that the news of Google’s new checking account, Cache, could be a potential culprit. Called a ‘Bitcoin killer’ by some, the tech giant’s new offer would allow users to have GooglePay dedicated Citigroup checking accounts.
For the full news, continue reading here
Do you guys agree about this kind of reason why Bitcoin dropped nearly 4% as of now? I know that there are many factors or reasons behind this, but I am not really sure if Cache is actually doing this.
Same thing goes for the bull run or price spike. We can't tell exactly the true reason behind the sudden price changes.
What are your thoughts or opinions about this one guys? Would like to hear you out, and I'll appreciate it. Thanks!
It’s possible but I doubt that it was a significant factor. There are constantly new “competitors” to Bitcoin but these examples are from corporations like Google, Facebook, and Apple. They are centralized and therefore have flaws. They aren’t open ledgers of transactions like Bitcoin and they don’t have the privacy functionality that Monero has.
Some have suggested that the news of Google’s new checking account, Cache, could be a potential culprit. Called a ‘Bitcoin killer’ by some, the tech giant’s new offer would allow users to have GooglePay dedicated Citigroup checking accounts.
One more killer of Bitcoin? I thought Libra is the ultimate killer of Bitcoin, until she was killed by the US & EU administration.
What are your thoughts or opinions about this one guys? Would like to hear you out, and I'll appreciate it. Thanks!
My personal opinion is that there are stupid journalists who write stupid stories, and that there are those who spread them around. For every drop in price we have at least one story that doesn't make any sense.
I see you are only posting links from one site, which means you promote them and their junk journalism.
This highlight the entire argument.
Quote
However, the move may not actually change much for Bitcoin. With so many offerings already available.
There is nothing need to be worried about. No point at claiming that market's 4% downward has to do with Google's responsibility, 'cause they as well contradict the future possibility whenever the offering might come in function. In the end, what are they are trying to build up is something far behind with crypto currency nature, besides, alot of group, company had tried such thing and no one stands out. 
If that scenario were true, here's what it would mean:
- Bitcoin holders for the most don't know what they're holding and don't understand that Cache/Calibra/whatever you want to call it doesn't in the least impact Bitcoin
- People are sheep and lemmings. They don't actually own Bitcoin, they've just paid for orders and account balances that they liquidate as soon as panic sets it.
Oh wait, I guess those two things are true. Hmm.
- Bitcoin holders for the most don't know what they're holding and don't understand that Cache/Calibra/whatever you want to call it doesn't in the least impact Bitcoin
- People are sheep and lemmings. They don't actually own Bitcoin, they've just paid for orders and account balances that they liquidate as soon as panic sets it.
Oh wait, I guess those two things are true. Hmm.
the cause of the drop you are saying is because of bull trap ; it already start since lot of day or end of semmer . . the halving comming and there is lot of investors who dont know what is halving and it is positive for bitcoin and his prices . for this reason they selling and the whale buy cheap
Whenever there is an important movement in Bitcoin and especially when it is of a fall, the news is always present, but one reason for not believing it is that the news does not come out before, it occurs after the fact, then it is not relevant .
When another type of eventuality occurs, it can be taken as a "Fundamental" which is something else, even in the Stock Market since the 1800s there have been falls in important actions and the news is generated.
I do not think that Google has such relevance, recently the news of China when the president announce the acceptance of Blockchain and open the doors to talk about Bitcoin, if it could have been taken as a "Fundamental", but usually the news has no effect Immediately, for me the fall had to do with whale strategies, maybe they are hunting some Stops Loss, they want to buy cheap ...
When another type of eventuality occurs, it can be taken as a "Fundamental" which is something else, even in the Stock Market since the 1800s there have been falls in important actions and the news is generated.
I do not think that Google has such relevance, recently the news of China when the president announce the acceptance of Blockchain and open the doors to talk about Bitcoin, if it could have been taken as a "Fundamental", but usually the news has no effect Immediately, for me the fall had to do with whale strategies, maybe they are hunting some Stops Loss, they want to buy cheap ...
in my opinion the decline in bitcoin yesterday is common in fluctuating bitcoin. or maybe this is manipulation of the popes before the end of the year they want the price of bitcoin down and then buy more. and then hold it until the bitcoin bull run after bitcoin is reduced by half in May 2020. In my opinion the decline in bitcoin security has nothing to do with Google's current account. I think the two are very different. and Google's checking account may not be able to affect the price or threaten bitcoin.
I looked at that 'bitcoin killer' thing of google posted by Forbes. Oh well, aren't we tired of these kind of news? Just because Forbes made a headline of it killing bitcoin, many speculated that it will literally kill it?
That's not the main reason of the drop, it's normal to see 4%, 5% or even more within the day.
That's not the main reason of the drop, it's normal to see 4%, 5% or even more within the day.
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