Is this why Bitcoin is crashing? - page 4.

ardentvolcanoes

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Quote from: MonsterV on September 27, 2019, 11:49:43 PM

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

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.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

Chances that investors who believes with this kind of superstitious things would mind investing around, with the bleeding that we are experiencing change everyone's position. It's needed to be assess and find conclusive things that affects the market situations aside from speculative opinions. if you have a long term goal this current market fall gives you bigger chance to invest with bitcoin and hold those cheap price to grab more.

th3nolo

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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?

End of the CME and CBOE futures, the Bakkt Fiasco and well the descending triangle and the gap on the chart... if you're looking at the situation in terms of trading perspective.

I feel the trading War between the US and China was the main driver of the surge in the Bitcoin price the last months this correction is healthy for the price if you're into this long term.

to be honest 7400$ is a great level if the price touch there again I will buy more.

shoreno

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Quote from: MonsterV on September 27, 2019, 11:49:43 PM

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

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.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

i think i also heard that before but what i know is the year 2017 is the best year for cryptos because all coins are pumping that time especially on the last quarter of that year . back on that ghost month that you guys talking about , that could be the other reason on why the price of btc and other cryptos are falling this month because there are also a good number of chinese investors but as soon as this month have passed, hopefully we can see a recovery again .

3x2

legendary

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Gold hit 1800 in 2018 thus making it the most over valued asset and that time in same year bitcoin was recovering and still recovering. Just suddenly this week the Gold crashed hard and silver became the worst, So Bitcoin was not an exception the market thus crashing further more.

Some analyst at Gutenberg predicts that this year we will see bitcoin falling below 4000 usd, I personally dont believe this and dont want this to ever happen, but who knows..

MonsterV

legendary

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

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.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

Darker45

legendary

Activity: 2576

Merit: 1860

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.

error08

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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

minersday

hero member

Activity: 1484

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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 don't really think these are the main reasons why Bitcoin is crashing. It is quite unfortunate that the month September happens to be the particular month in which Bitcoin market usually experience crashing. The particular reasons causing this crash are currently unknown. Assumptions can't be taken as the main cause of this crash...

arbiterh2

newbie

Activity: 171

Merit: 0

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?

Here's why Bitcoin's going TO THE MOON: https://speek.link/s/PGwjPlSZMA4HEeLwUYIr

suzanne5223

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Activity: 2660

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Want top-notch marketing for your project, Hire me

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 reason why bitcoin crashed was not that it experienced speedily surge in price in the year 2017 nor was this month a bad month but the current crash was the market correction that usually happens before bitcoin halving.
Bakkt was not implemented to create surge in the price of the market but security and assurance for investors.[/list]

UNOE

sr. member

Activity: 791

Merit: 271

This is personal

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

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.

Your points are valid because you can not really attribute the price of bitcoin either increasing or decreasing unless it is either Christmas time or New years. Chinese or other wise.
But pointing out Bakkt might be a culprit is highly related to what happened since it did occur at the very same time from its launch.
Was it a coordinated attack on bitcoin's price from what the $1.2 billion usd worth of bitcoin that was sent to an exchange?
You make your own opinions on this revelation from the previous threads I responded to on the issue.[/list]

rodel caling

full member

Activity: 952

Merit: 104

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?

Not meaning Semptember is bad month for bitcoin up and down or tgeir price is depends on the demends not for the bad months. Maybe the number effect of bitcoin price crash drops is because of the BAKKT news trends so therefore no need to worry this situation is part of the negative trends news, for sure after this all will gonna goes fix and bitcoin is goes back into the normal.

Questat

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Activity: 2982

Merit: 610

Quote from: goaldigger on September 27, 2019, 05:01:07 PM

Quote from: Chris Barth on September 27, 2019, 04:17:55 PM

"September is typically a bad month"

I doubt this. Crypto doesn't rely on any month. Every price depends on the market and not the month. However, it may seem you're right, but, I doubt.

There’s no correlation about this one aside from the ghost month, but there’s a study that some months are not good on a stock market but I doubt if its also applicable to cryptomarket. The dump on the market is still unpredictable, there are so many instances to consider and we don’t know if they’re the real reason or not.

I'm sorry but just like to correct that August is the gosht month, not September.

I know a lot of presumptions and blaming why we suffer this market crashed. It may be it is all about time that crypto market needs to settle down from where it is the right price for them. Cause in my self, I'd never think that $20k is a fair market price. We could just reach that price because of hypes but what we have now, we could say that whales aren't making such a thing which good to prevent from losing. The market volatility remains and it is good enough.

pixie85

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People who want Bakkt to trade high from the beginning don't know that this platform is only going to look good for big players. Small fish have other futures and don't need regulated platforms with 1:1 backing.

Big players won't enter on the first day they need time to muster. All similar platforms to bakkt that launched on traditional markets needed months to gather clients and did bad on their first day.

goaldigger

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Merit: 357

Quote from: Chris Barth on September 27, 2019, 04:17:55 PM

"September is typically a bad month"

I doubt this. Crypto doesn't rely on any month. Every price depends on the market and not the month. However, it may seem you're right, but, I doubt.

There’s no correlation about this one aside from the ghost month, but there’s a study that some months are not good on a stock market but I doubt if its also applicable to cryptomarket. The dump on the market is still unpredictable, there are so many instances to consider and we don’t know if they’re the real reason or not.

Chris Barth

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"September is typically a bad month"

I doubt this. Crypto doesn't rely on any month. Every price depends on the market and not the month. However, it may seem you're right, but, I doubt.

Pab

legendary

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Merit: 1012

I very much agree.News about Bakkt was over hyped
But first massive sell off came after the end of sec commissionaires hearing in US congress
It was about Libra and cryptocurrencies. Libra caused big warnings between governments
Now there was a lot of talking about financial risk.victims of ICO, criminal aspects etc
Libra was advertised like something great for crypto world. Even Binance and Gemini posted about his will to list to collaborate with Libra .So to list of reasons of current dump we can add Libra case

Dread Pirate Roberts

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

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 think bitcoin is not affected by what month it is, but to pure market activity and also if compared to last year this month is the month where bitcoin rises rapidly.
When compared to last year's profit, it is clear that bitcoin is still a profit, but for some new adopters and new holders, it is undeniable that they are panicking with their assets.

Quote from: marketingnerd on September 27, 2019, 12:53:37 PM

Guys - chill out. BTC is still at 8K. It's not like it dropped down to 1K.

You can't say that because those who trade here they put their money to get profit instead of losing it so it goes down to 20% from 10k I think there are some people who feel lost and panicked that price can go down again and lose the chance to buy at a lower price later.

Saint-loup

legendary

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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?

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

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...

nicecrypto

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To be honest I wasn't really expecting such a drop in price of btc considering all the latest updates of different companies accepting in their business, I was actually looking forward to an increase but it is never certain with crypto, at times like this I find it difficult to look at my portfolio, it makes my heart skip Embarrassed

Topic: Is this why Bitcoin is crashing? - page 4. (Read 783 times)