Is this why Bitcoin is crashing? - page 3.

coin-investor

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Quote from: funchiestz on September 27, 2019, 12:48:38 PM

Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

September is typically a bad month

[/b]

Baakkt is not doing very well
It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

I don't think it is about September. In September, 2017 Bitcoin was rising speedly.
It may related with BAKKT. But I am not sure BAKKT can affect BTC's price this much.

There is nothing in the article that clearly explains why the price is dropping, and about the September issue, nope I don't think so in fact September in the year 2017 is a lucky month for me this is the month of that year where Bitcoin is peaking and I guess it's for us all who experiences the peak in 2017, maybe it's about the Bakkt not getting acceptances from holders, but it still has a future, it's just a slow start. [/list]

skarais

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I think the current situation is normal for cryptocurrency prices, especially bitcoin. This is a natural market reaction after a while in sideways conditions. There will be some improvement after the dump, and I also don't believe that bakkt has resulted in a big price reduction now.

ajqjjj

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Quote from: NewBet on September 28, 2019, 10:32:06 AM

I don't know if that's why Bitcoin is crashing but if you look at the chart it went up a lot recently, so maybe it makes sense that we need a price correction before we go to the Moon!

All are listening the market so went up slowly and it looks gradual hype on every month. But current dump is unexpectedly happen so all are still waiting for gradual pump. Bitcoin will going to moon and when it will raise gradually is the more important statement. Traders are little drawback in current scenario so once it will forward slowly again everyone believe it will going to moon.

meanwords

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Isn't it great? We can have all those Bitcoins those weak hands sold. That hashrate drop news one of the reason why whales is able to make a move now and those who bought the news will regret it later on.

Although the news of Bakkt is hyped like a madman and died out eventually, in the long run, it will help with the adoption of Bitcoin which will cause the price to increase again.

NewBet

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I don't know if that's why Bitcoin is crashing but if you look at the chart it went up a lot recently, so maybe it makes sense that we need a price correction before we go to the Moon!

JohnBitCo

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Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Baakkt is not doing very well

Thoughts?

Before jumping to a conclusion on bitcoin crash reason, we need to determine what was the expectation from bakkt ?
Many people thought that the bakkt will launch , the marketcap and volume of bitcoin will increase enormously as institutional investors will enter in to this market. Yes, they will invest but no one said that it will happen on the first day or the first week. We need to give some time to this new platform for bitcoin futures and only after sometime we may see positive results for crypto currencies.

Saqib Cheema

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There's no way of crashing of bitcoin. Due to of some matters it can be say that it is dropping it's price/value.
The reasons of dropping the values may include that South Korea shutting down it, and if completely succeed it will also cause trouble in trade, it also affect other countries like Asia any many more.
so we can say that the bitcoin is not crashing only it's value decreasing and with passage of it it become normal.

kidoseagle0312

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Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

September is typically a bad month
Baakkt is not doing very well
It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

I saw that after Bakkt launched in the past 23 of September 2019 many were affected by the sudden collapse of Bitcoin followed by most crypto or altcoins, many were disappointed and many more took advantage of buying potential coins while lowering prices further that's bitcoin. But for me it doesn't matter if you really believe in the coins you hold today.

boris2470

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Quote from: funchiestz on September 27, 2019, 12:48:38 PM

Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

September is typically a bad month

[/b]

Baakkt is not doing very well
It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

I don't think it is about September. In September, 2017 Bitcoin was rising speedly.
It may related with BAKKT. But I am not sure BAKKT can affect BTC's price this much.

The purchase of Bitcoin takes place on the Bakkt platform and the sale on exchanges that greatly lowered the price. I began to realize that Bakkt was useless and even hurt Bitcoin, right?[/list]

bellicose

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It’s hard enough to explain such a bitcoin volatility. But after all other coins always follow him and only a few can show a short-term price increase. I think this is an ordinary speculation to eliminate hamsters.

fiulpro

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I think it is because Bitcoins was up and reached a all time high for this year apparently and people feared that it will go down too soon therefore they encashed also at the same time it was static for a while because everyone was expecting a good return but then again.. people don't have patience .
Unfortunately if we could have just waited it would have gone up !

LeGaulois

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@cryptomarketyourself

There's no point in saying September is usually not a good performing month. Even if that were true, it would have been in the 5-10% range.
It doesn't explain such a high drop just in some hours. I didn't really follow the news this week except here but I find strange that the same week:

A) a group of media outlet started to spread the FUD about the network hashrate. Clearly to manipulate opinions
B) Bakkt finally starting after many months of speculations.
C) A point @Carlton Banks raised in another topic with what happened to the mempool just before

Bakkt as an event is a flop! As for what we are really waiting for from it (the mass investments) it will take months to see a result (either positive or negative). But an interesting question is:

Could it a manipulation against Bakkt? or is Bakkt itself a point of this manipulation?

@Herbert2020

Quote

Bakkt is actually doing very well considering it is brand new and less than a week old. the volume has been high and growing.

Not difficult to make higher, when the previous point is zero Grin

Herbert2020

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Bakkt is actually doing very well considering it is brand new and less than a week old. the volume has been high and growing. that has nothing to do with the price drop. it was purely a small panic sell followed by a ton of FUD and manipulation to trigger the subsequent sell offs at larger scale to cause such a gigantic drop.
it is also another step in the accumulation phase to push the price low like this to buy cheaper coins in that short window of opportunity before the price jumps back up and enters the bull run.

cryptomarketyourself

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Quote from: error08 on September 27, 2019, 11:16:55 PM

Bitcoin price tumbled under $8K on September 27th and has since slowly recovered back to prices between $8,200-$8,300.
Yeah, whenever bitcoin futures contract going to live, we will see such movement on the market, the timing of Bakkt and bitcoin price drop was relevant.
Despite it's related to Bakkt or not, we will see bitcoin prices will spike due to the fact that physically delivered futures require the actual purchase of bitcoins, which means that actual bitcoins are held in Bakkt’s warehouse and will be delivered at the expiry of the contract. Imagine, if you are one of those bitcoin futures investors or traders, you may want to buy bitcoin contract at the lower price and end up with the higher price at the moment it's delivered to you. Well, if you win the contract.
Bitcoin may enter the recovery zones by the year’s end. So, buy more bitcoin or hold on until then.

Quote from: Saint-loup on September 27, 2019, 03:32:08 PM

Why did you put this link? We can't access your article, registration is needed... Undecided

Yeah, because we have to pay at least $9.99 to access all "pro-exclusive" articles. - Hold on! This is for Crypto Trader Pros Only! -

Quote

Well I think the hack of the Lightning Network, the Google quantum computing exploit and the very low volume on Bakkt at its launch are the main culprits of the crash... The big dip in the hashrate wasn't a good news too...

Just read this news and its state; Even with today’s sluggish crypto prices, the SHA-256 hashrate has remained unscathed and continues to show persistent growth.
Full article

Hi there mate - sorry but I didn't realize I was posting an only pro-members exclusive article. Like I've said to others, I don't mind paying for good content. My bad!

But hey I saved you guys some bucks then by summarizing the article! Grin

error08

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Quote from: cryptomarketyourself on September 28, 2019, 12:42:49 AM

Quote from: error08 on September 27, 2019, 11:16:55 PM

~snip~
Yeah, because we have to pay at least $9.99 to access all "pro-exclusive" articles. - Hold on! This is for Crypto Trader Pros Only! -

Hi there mate - sorry but I didn't realize I was posting an only pro-members exclusive article. Like I've said to others, I don't mind paying for good content. My bad!

But hey I saved you guys some bucks then by summarizing the article! Grin

Yes, thank you for the summarize, maybe next time a good thing to cite all the article for better reading comprehension. Wink

So we can judge whether it has good content or just a vaunt looking for the subscriber, as we can get such content on many webs and there are tons of free article out there.
However, by the point "September is typically a bad month" makes me wonder, what is the correlation? it's not so relevant to be claimed "pro-exclusive" imho.
But, I do agree regarding Bakkt thing, like many other free articles mentions.

cryptomarketyourself

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Quote from: Darker45 on September 27, 2019, 11:35:51 PM

Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

September is typically a bad month
Baakkt is not doing very well
It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

Indeed, "crashing" is too harsh a description to a dip which may be worse than before but definitely not as worse as a crash.

Well, the link is apparently a bait for the site which is obviously looking for subscribers. I din't proceed signing up. My sole intention was to curiously read another new theory or speculation about the price drop.

Somewhere in August and September there is what the chinese call as Ghost Month. And knowing that these people are very superstitious even in business and finance, they observe so many dos and donts, during this time when they believe the gates of hell are open. But I don't think it could influence the market the way the huge drop happened.
Same with Bakkt, it could affect the market but not that much. Not to mention that Bakkt took off in a low-key manner and with a very moderate volume.

Sorry, I didn't realize I was posting an "only members" post. I'm a member of the site, they have good content. Hopefully I can find a free article that touches on some of these points

Saint-loup

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@cryptomarketyourself You don't need to post several posts in a row to say that, it's forbidden, one post is enough. If you want to save us some bucks as you say, you should copy and paste the full article here...

Leonardo7

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The article didn't write anything technical, just mention Baktts Bitcoin Futures and lack of much interest in buying cryptocurrency, but we have a mass of persons signing up for new wallet daily and many seminars are going on. What is happening now is normal.

cryptomarketyourself

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Quote from: chaoscoinz on September 27, 2019, 02:42:03 PM

Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

September is typically a bad month
Baakkt is not doing very well
It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

I'm not going to subscribe just to read the article, that's crazy. I'm sure the Bakkt news could be a big part of the reason for the sell off, of course in this sector who really knows. I knew it will fall a bit though do to the slow decline, I guess it will be the "Bad News Bear" for a while until something big happens to drive the price in the opposite direction upward.

I don't mind paying for good content - makes me smarter

Youghoor

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Quote from: cryptomarketyourself on September 27, 2019, 12:43:46 PM

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

September is typically a bad month
Baakkt is not doing very well
It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

This is not the first time the price of Bitcoin has dropped and its not gonna be the last time. What people need to understand is that, the rise and fall of the market value of Bitcoin is actually the nature of the bitcoin market and the underlining reasons or causes for the rise and fall are not really unknown or seen. A lot of people have their stories and theories behind this rise and fall. As a Bitcoin investor, you just have to study and observe trends to help you know when to sell or buy to increase your proit portfolio and minimize your lose potential...

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