Topic: I think I Found The Reason For Bitcoin's Latest Crash (Read 663 times)
quantum or corona is a common reason for now, what happened when the US closed their borders to Europe I don't know that, but I think whales use all these reasons, I'm still waiting for further news
There must be more than quantum breakthrough that caused the crash, other stocks also crashed at that time, does it also mean that the reason of the crash was quantum breakthrough? No, there are other factors that play in the crash. I like that you give graphs to prove your point but there should be hard evidence, this one is circumstantial and we need more than that. Sorry, I can't give any example.
For now there is no one who is sure as to what really led to the drop in the bitcoin price. There are some saying that the Plus Token scam was what led to fall in the price and others have come to believe that the main reason why the price of bitcoin dropped was due to the pandemic, well, why not? Majority of the markets were affected and their prices are very low, look at Dow Jones, that ones seems to be a target, then you have Tesla and others.
As for this quantum computer, I never thought that anyone is still afraid of this by now, nobody even talks about it any longer. I'm just going to say that what led to the drop in price is not just one thing but a lot of things.
As for this quantum computer, I never thought that anyone is still afraid of this by now, nobody even talks about it any longer. I'm just going to say that what led to the drop in price is not just one thing but a lot of things.
TS do you seriously think that the problem with bitcoin is that shadowy scientists in their underground bunker laboratories are creating a quantum PC?
There are a lot of problems with superposition, and you are talking about crypto.
No one will use a quantum PC to hack crypto because it's a super-expensive toy and for completely different purposes lol
There are a lot of problems with superposition, and you are talking about crypto.
No one will use a quantum PC to hack crypto because it's a super-expensive toy and for completely different purposes lol
The phrase "muh human lives" is the identifier for a new kind of psychopath.
The idea is to shutdown the entire world and cause massive unemployment, recession, hungry, pain and crime on a global scale, and then say it was to "save human lives".
Who cares for children who needs to be feed? Lets "save human lives" by depriving their fathers of work and starving them.
This degree of psychopathy will certainly be studied in the future, if humanity survives the onslaught.
The idea is to shutdown the entire world and cause massive unemployment, recession, hungry, pain and crime on a global scale, and then say it was to "save human lives".
Who cares for children who needs to be feed? Lets "save human lives" by depriving their fathers of work and starving them.
This degree of psychopathy will certainly be studied in the future, if humanity survives the onslaught.
When the pandemic virus is not yet started the highest price of bitcoin is 10,000$ and up. After that the bitcoin price are slowly go down but not so deeply and it was a normal rate in a market. But when the pandemic virus called COVID-19 is started and spreads all over the world there’s a huge of impact that happened with their lifestyle everything has changed. The bitcoin market price neither survived due to coronavirus pandemic. I guess the COVID-19 is one of the reason why bitcoin price are deeply drop.
actually the Virus is spreading the world since last year thats why it is called Covid-19 stands for 2019 virus but only become pandemic in mid of march and same time the market starts to fall hard.but the Post of OP maybe added the impact thats why the market falls so fast that day March 12 and until now the effect is still making the value stays Down contributing by those Holders that starts to sell now because of not enough funds from the quarantine.
It is possible that such news simply involves price manipulation, and they do not carry any breakthrough news. In principle, this can even be realized by issuing similar news, and making money on the collapse of the market, but this is certainly a bad option.
When the pandemic virus is not yet started the highest price of bitcoin is 10,000$ and up. After that the bitcoin price are slowly go down but not so deeply and it was a normal rate in a market. But when the pandemic virus called COVID-19 is started and spreads all over the world there’s a huge of impact that happened with their lifestyle everything has changed. The bitcoin market price neither survived due to coronavirus pandemic. I guess the COVID-19 is one of the reason why bitcoin price are deeply drop.
There will always be this distracting news in the market when the space pump or dumps, the distracting appears in the midst of the reliable one and I dont know the purpose. Those technical analysis is getting unreliable and unbelievable for me again. It is easy to understand the effect of Corbid 19 on the market but these drawn lines are just display of some bookwarms. Since I knew the market technical analysis does not consider the effect of whale manipulation in the market I stopped believing it.
I think I'll try to explain most of the larger, most recent, bitcoin pricce increases/decreases with a chart infographic, later. Bitcoin's price moves were influenced by news stories, if I'm remembering right. Its a question of which ones were responsible.
Natural market mechanics could take a distant back seat there. As far as market price movements go.
There is one guaranteed method to describe the fall of markets.
They occur when selling volume > buying volume, by disproportionate amounts.
When there are significantly more sellers than buyers: markets crash. The inverse opposite is also true.
Natural market mechanics could take a distant back seat there. As far as market price movements go.
I’m already getting tired of all these. The truth is that none of you even knows why the cryptocurrency market fell.
There is one guaranteed method to describe the fall of markets.
They occur when selling volume > buying volume, by disproportionate amounts.
When there are significantly more sellers than buyers: markets crash. The inverse opposite is also true.
I’m already getting tired of all these. The truth is that none of you even knows why the cryptocurrency market fell.
The only true reason which is believable is that Bitcoin plummeting to a low price was caused by the Covid-19 outbreak. This was the same thing that the stock market faced, so this is the only thing that is likely to be true. I don’t even believe what you have said , or maybe there is the possibility that this also contributed to the fall.
I have seen other people that gave different reasons as to why Bitcoin price fell to a low price, but I’m not sure if any of these are accurate; if they are, the pandemic is the main thing and these ones are just some other factors that contributed to it.
The only true reason which is believable is that Bitcoin plummeting to a low price was caused by the Covid-19 outbreak. This was the same thing that the stock market faced, so this is the only thing that is likely to be true. I don’t even believe what you have said , or maybe there is the possibility that this also contributed to the fall.
I have seen other people that gave different reasons as to why Bitcoin price fell to a low price, but I’m not sure if any of these are accurate; if they are, the pandemic is the main thing and these ones are just some other factors that contributed to it.
I do think the reason behind bitcoin's crash is , the Corona virus , since people are in quarantine , loosing their jobs , the only thing left there is their investments , their assets do people are encashing to pay for their groceries , medical expenses and other stuff , the jobs are not even paying them anything and the government is also doing their best ( only some governmental bodies ) .
Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.
its another reasons but the main reasons is the plus token scam. Which dumped morethan 20k btc + Fud made by the crisis we have in corona virus . If the price continue to decline then the crisis we have now is the reason now. Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.
Bad situation around the world and many countries still get cases with Corona virus make us faced with bitcoin in lower price, I don't know details why bitcoin crash with lower price and why many people sell bitcoin in cheap and looks panic for selling, why not holding several days later and see how bitcoin will going up.
It may be difficult to justify the fact, and there is no solid evidence of crash including the sudden decline of bitcoin, perhaps coronavirus is the most expected caused of global economic crisis, and the exchange was collapsing due to panic sales that have occurred in the traditional market, I think because of this, all side of the country with the competition of crypto has dropped, and the other investors have been disappointed.
op provided some proofs on the first page and theres alot of it imo .
that would be enough for me convince that the crash was caused of it and not the other way around but many people find it too technical , they might not understand it properly so they find other reasons that are easily understandable like this one ( the covid virus ) .
quantom thingy have been discussed many times before and many people already speculate it that it can affect the performance of btc .
This is a interesting insight on bitcoin crash but I think this breakthrough still needs more solid evidence to be considered for a factor, there are quiet a lot of factors for the crash and some point the roots to the pandemic, this is a proof that is tested for a long time in many economic models.
It may be difficult to justify the fact, and there is no solid evidence of crash including the sudden decline of bitcoin, perhaps coronavirus is the most expected caused of global economic crisis, and the exchange was collapsing due to panic sales that have occurred in the traditional market, I think because of this, all side of the country with the competition of crypto has dropped, and the other investors have been disappointed.
What is happening today in every country because of the coronavirus is quite expected, since any quarantine and any restrictions affect both small and medium-sized businesses, and it is also very difficult to display on large businesses. Today, every person begins to feel financial starvation due to lack of work, because not only in countries but also in every city quarantine has been introduced. Because of this, in any case, the expected crisis will be due to the crown of the virus, but I very much hope that people who are isolated at home due to quarantine have much more time to learn as much as possible about cryptocurrency and think about alternative ones. sources of income using the cryptocurrency market. this in turn can improve the situation.
It may be difficult to justify the fact, and there is no solid evidence of crash including the sudden decline of bitcoin, perhaps coronavirus is the most expected caused of global economic crisis, and the exchange was collapsing due to panic sales that have occurred in the traditional market, I think because of this, all side of the country with the competition of crypto has dropped, and the other investors have been disappointed.
I do think the reason behind bitcoin's crash is , the Corona virus , since people are in quarantine , loosing their jobs , the only thing left there is their investments , their assets do people are encashing to pay for their groceries , medical expenses and other stuff , the jobs are not even paying them anything and the government is also doing their best ( only some governmental bodies ) .
Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.
Quite right, as soon as the start of Corona virus outbreak, the price or the standing of Bitcoin have decreased massively with just a short amount of time. The pandemic affected a lot the economic status of certain countries that have cases of the ncov-19. Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.
But, these days prove to be good for the standing of Bitcoin because, its price is gradually recovering from the dump that have gone down to a $3,500+ value to $6,500+ in the present with a short amount of time. This could be a sign for a significant development for all the stock investments in the market.
I don’t know for sure, and I don’t really think you’re right. If you check your first picture the price of Bitcoin was already going down before the date you marked; it reached the peak around July and then started to fluctuate downwards before reaching the date you marked.
The declines and peaks are correlated with the publication of other news stories. Winklevoss ETF proposals being rejected by the SEC resulted in price declines. News stories claiming tether market manipulation: price decline. With spikes in BTC value sometimes occurring when positive news relating to bitcoin are published.
There is a strange trend in crypto markets where positive news stories are often ignored. while negative stories relating to vaporware quantum computer developments with no proof of concept carry an exaggerated influence on markets. The same precedent could apply to US stocks where markets continued to trend upwards for nearly a week after news first arose of severe production showdowns in china.
Buying, selling and trading aren't reflecting fundamental market mechanis. The way classic analysis says it should.
This is one theory as well, even prior to the big dump that we have seen.
https://www.coindesk.com/whale-watching-exchange-data-contained-early-warning-of-thursdays-bitcoin-dump
So even prior to the "quantum discovery" in March 11, as the article suggested, there seems to be a large movement of BTC prior to the collapse on March 11/12 pulling the price to the high $3'ish. So probably manipulation in light of the corona virus scare.
Quote
The big drop in bitcoin’s (BTC) price Thursday was in the making since March 8, data on the flow of funds into exchanges indicates.
The biggest cryptocurrency by market value collapsed from $7,900 to a 10-month low of $4,700 on Thursday and extended the decline to 12-month lows below $3,900 early Friday.
Data provided by blockchain analysis firm CryptoQuant shows inflows into major exchanges, or deposits, began rising at higher-than-usual rate beginning March 8. One way to read this is as a possible co-ordinated action by whales to dump the cryptocurrency.
The biggest cryptocurrency by market value collapsed from $7,900 to a 10-month low of $4,700 on Thursday and extended the decline to 12-month lows below $3,900 early Friday.
Data provided by blockchain analysis firm CryptoQuant shows inflows into major exchanges, or deposits, began rising at higher-than-usual rate beginning March 8. One way to read this is as a possible co-ordinated action by whales to dump the cryptocurrency.
https://www.coindesk.com/whale-watching-exchange-data-contained-early-warning-of-thursdays-bitcoin-dump
So even prior to the "quantum discovery" in March 11, as the article suggested, there seems to be a large movement of BTC prior to the collapse on March 11/12 pulling the price to the high $3'ish. So probably manipulation in light of the corona virus scare.
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