Author

Topic: Reason for current bloodbath (Read 716 times)

hero member
Activity: 3080
Merit: 603
December 01, 2019, 04:37:50 PM
#97
Being volatile is what making bitcoin an exciting kind of asset. Whatever reasons an individual will come up for every dump these entries of opportunity should be used by them but if they keep on looking for the reasons, they might pass it.
It's true that the price motion of bitcoin is quicker than the stock market that when people see 5% gain within a year, they're already celebrating. While for us, a 5%+ becomes a normal trend so do a -10%/day.

Because of that fast and sudden changes that we experienced at glance we noticed immediate crashes. On that scenario, it's always an unpredicatable situation which we usually see by the time bearish trend dominantly took over the market, and typically the reason why bloodbath occurred so bad.
Bitcoin will always be an unpredictable asset but I've read opinions and speculations that in the future it will have a stable price which is going to be favored by many. Stable in a manner that it will not go down anymore to the extent that we're experiencing right now.
And that's a very likely manner of bitcoin by most although we are too aware of its unpredictable movement, we want it to have a high stable price.
legendary
Activity: 1473
Merit: 1086
November 29, 2019, 02:49:53 PM
#96
I believe the main reason for the current one is that price wasn't going as high as the traders and whales wanted on the recent increase so they wanted to let it go and sell and accumulate more in order to gain more later.

The price was around $7.5k just few months ago in September but it increased to around 9 thousand dollars, people expected it to go well beyond that, into 12 thousands but it didn't which resulted with price being let down once again to try again. When you can't do one thing, it is better to let it go and try again later so that is what we are doing right now.

Hopefully, next bull rally will end up with price going above 10 thousand dollars or we will have to find a way to try again and again and again until we are finally above the limits we want.

Compared to the last pre-halving bubble, the price is rather high. So maybe it has also something to do with it.
legendary
Activity: 3052
Merit: 1188
November 29, 2019, 02:35:51 PM
#95
I believe the main reason for the current one is that price wasn't going as high as the traders and whales wanted on the recent increase so they wanted to let it go and sell and accumulate more in order to gain more later.

The price was around $7.5k just few months ago in September but it increased to around 9 thousand dollars, people expected it to go well beyond that, into 12 thousands but it didn't which resulted with price being let down once again to try again. When you can't do one thing, it is better to let it go and try again later so that is what we are doing right now.

Hopefully, next bull rally will end up with price going above 10 thousand dollars or we will have to find a way to try again and again and again until we are finally above the limits we want.
hero member
Activity: 1426
Merit: 506
November 29, 2019, 11:51:32 AM
#94
Unlike gold which could be traced all over the world. The market of crypto currency is that broad to just expect what will happen next.
I differ with this statement, you cannot even trace all the gold in the world, but when it comes to bitcoin and any coin with a public blockchain you can monitor every transaction that is done, you cannot know the real volume in exchanges as majority will provide fake volume but you can monitor the number of transaction going in and out of the exchange, the reason for the blood bath is because the market was not having any momentum to rally higher and when that happens it always go down.
hero member
Activity: 2996
Merit: 609
November 29, 2019, 11:36:36 AM
#93
Consider every bloodbath an opportunity for new entrants because they can't buy at high prices and its the only time that giving them a bargain price. It will be boring and less exciting if the market will be less volatile, even the dumps are artificial or conincide with FUD most investors prefer this way unlike the traditional stock market where hard to make easy profit in short term.
Being volatile is what making bitcoin an exciting kind of asset. Whatever reasons an individual will come up for every dump these entries of opportunity should be used by them but if they keep on looking for the reasons, they might pass it.
It's true that the price motion of bitcoin is quicker than the stock market that when people see 5% gain within a year, they're already celebrating. While for us, a 5%+ becomes a normal trend so do a -10%/day.
5-10% a day is just really a typical day to happen here on crypto space.Ive been seeing some stocks and forex traders that do switch completely or move to crypto due to returns out of very volatile market and this
what makes exciting for those who do know to trade yet they do saw the opportunity on earning more but to think it would always equal on the risk involved.

We do see lots of reasons specially if there were fuds and exchange hacking news and millions of being stolen then the market do either normally reacts or wouldnt just dont mind.
hero member
Activity: 1106
Merit: 502
November 29, 2019, 11:24:59 AM
#92
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

I don't see any reason, but I learn from history, as at the end of the year 2018 has decreased, and usually, before halving happens it will decrease according to what I see, although lately upbit gets hacked but bitcoin actually increases. Another reason might be that some whales sell to get a lower price before halving occurs.
sr. member
Activity: 1050
Merit: 251
November 29, 2019, 08:10:30 AM
#91
Consider every bloodbath an opportunity for new entrants because they can't buy at high prices and its the only time that giving them a bargain price. It will be boring and less exciting if the market will be less volatile, even the dumps are artificial or conincide with FUD most investors prefer this way unlike the traditional stock market where hard to make easy profit in short term.
Being volatile is what making bitcoin an exciting kind of asset. Whatever reasons an individual will come up for every dump these entries of opportunity should be used by them but if they keep on looking for the reasons, they might pass it.
It's true that the price motion of bitcoin is quicker than the stock market that when people see 5% gain within a year, they're already celebrating. While for us, a 5%+ becomes a normal trend so do a -10%/day.

Because of that fast and sudden changes that we experienced at glance we noticed immediate crashes. On that scenario, it's always an unpredicatable situation which we usually see by the time bearish trend dominantly took over the market, and typically the reason why bloodbath occurred so bad.
hero member
Activity: 3080
Merit: 603
November 29, 2019, 05:12:23 AM
#90
Consider every bloodbath an opportunity for new entrants because they can't buy at high prices and its the only time that giving them a bargain price. It will be boring and less exciting if the market will be less volatile, even the dumps are artificial or conincide with FUD most investors prefer this way unlike the traditional stock market where hard to make easy profit in short term.
Being volatile is what making bitcoin an exciting kind of asset. Whatever reasons an individual will come up for every dump these entries of opportunity should be used by them but if they keep on looking for the reasons, they might pass it.
It's true that the price motion of bitcoin is quicker than the stock market that when people see 5% gain within a year, they're already celebrating. While for us, a 5%+ becomes a normal trend so do a -10%/day.
sr. member
Activity: 1540
Merit: 420
www.Artemis.co
November 28, 2019, 09:48:34 PM
#89
Consider every bloodbath an opportunity for new entrants because they can't buy at high prices and its the only time that giving them a bargain price. It will be boring and less exciting if the market will be less volatile, even the dumps are artificial or conincide with FUD most investors prefer this way unlike the traditional stock market where hard to make easy profit in short term.
legendary
Activity: 2576
Merit: 1043
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November 28, 2019, 09:16:04 PM
#88
I have watched a video on youtube yesterday and he said that there are now 3 kinds of analysis right now that analysts are using. You probably agree with this or not but it is true for me.

1. Technical Analysis
2. Fundamental Analysis
3. CA (Huh)

What is this CA you are saying?? Simple. China Analysis Cheesy.

You can see it already if you are watching youtube videos all the time that is related to Bitcoin and blockchain. In 2017 when China isn't like Bitcoin and crypto in general, the price of it shoot to almost $20k. Now 2019, when they are releasing positive news regarding Bitcoin and blockchain prices of Bitcoin pump and vice versa. China Analysis is for me the best analysis Cheesy.
full member
Activity: 966
Merit: 153
November 28, 2019, 06:59:49 PM
#87
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Too early? I am kinda lost in that part.
There is no period that is too early or too late for price dip to occur. When you say  its too early, you make it seems as though we know the market will take this direction, which brings use to the question of why we didn't act fast.
Anyway about why the current red, many people are again pointing towards the Chinese government, forgetting that people emotions can be the case too.
hero member
Activity: 3052
Merit: 651
November 28, 2019, 09:05:20 AM
#86
The dump is created by a normal trend of bitcoin.
It does happen without any reason.
A lot of exchange is being created and we don't really know who is selling.
It could be a whale which used a different exchange or it could be a group of people who is using an unknown exchange with high volume.

Unlike gold which could be traced all over the world. The market of crypto currency is that broad to just expect what will happen next.
hero member
Activity: 2982
Merit: 610
November 28, 2019, 06:44:02 AM
#85
For users who think it a bloodbath it is time to make an investment or to leave the market selling off what they hold. For users who believe on further growth it is time to hold because people easily get panic as the market continues to fluctuate withing certain range.

That's the two kinds of mentality of users in crypto, but in the end, those who believe and hold to survive will enjoy.
We can't panic at this moment, once we enter crypto, we should be ready for this and actually its not the first time it happened, it happened many times so its not something new anymore, just relax, take it easy and HODL,  its always been a working method when investing.

Whatever the reason for any bloodbath, most of the time its just a wrong speculation as the market corrects in the end.
sr. member
Activity: 1638
Merit: 261
November 28, 2019, 03:48:04 AM
#84
The set of negative news from China and actions that coincide from investors and whales led the bitcoin to decline. however I think the main reason is the big players whales taking advantage of the panic and manipulating the price down. as the price continues to get driven down, the bots tied to multiple accounts are also activating sell offs. also, it's near tax season, so while we have seen an initial sell off, people will soon receive refunds to buy into this attractive opportunity, so I strongly believe we will start seeing a strong rise soon.

Yes I agree on your points it's just the whales cashing out to crash the market in order to buy back and they are doing it when there are negative news or rumors against bitcoin and crypto in general to make it look like the market is going down due to world affairs and restrictions from countries like China but it's the whale who does that.
sr. member
Activity: 1120
Merit: 255
November 28, 2019, 03:09:04 AM
#83
The set of negative news from China and actions that coincide from investors and whales led the bitcoin to decline. however I think the main reason is the big players whales taking advantage of the panic and manipulating the price down. as the price continues to get driven down, the bots tied to multiple accounts are also activating sell offs. also, it's near tax season, so while we have seen an initial sell off, people will soon receive refunds to buy into this attractive opportunity, so I strongly believe we will start seeing a strong rise soon.
hero member
Activity: 2632
Merit: 787
Jack of all trades 💯
November 28, 2019, 01:35:50 AM
#82
but playing with prices is not good for investors and prices bitcoin because fall every time in prices will make investors always at panic and fear


Who says price fluctuations is not good for the investors?
Bitcoin's volatile nature is an indicator of a healthy trading activities. If you see the price becoming stable at some point, that probably means there's not much trading activities happened in several exchanges.
Price correction doesn't make a smart investors panic or fear, instead they will find it as an advantage to earn more in the future by purchasing more supply  while the market is down.

It's traders want and every fluctuation is money that's why we can see more people hyping or whales manipulating the market but I don't know why there are still people thinking on it as a downside and maybe they are not used to trade and provably don't know what they are unto since fluctuation is also happening in fiat but the good thing in crypto is the movement is faster and that make the potential profit became more bigger.

But I can't blame them to get  panic since there are certain situation that newbie traders put their money on one crypto only and provably they afraid to lose instantly since they don't know how to interact with market activity.
legendary
Activity: 3234
Merit: 1214
Vave.com - Crypto Casino
November 28, 2019, 12:42:30 AM
#81
If we think of the present market scenario as a bloodbath what should people should have thought when the price fell low to $3500. The market is manipulative and it reacts to speculation. This makes the market to be moving forward and backward without any limitation and without giving any precise reason for its growth as well its fall.

For users who think it a bloodbath it is time to make an investment or to leave the market selling off what they hold. For users who believe on further growth it is time to hold because people easily get panic as the market continues to fluctuate withing certain range.
sr. member
Activity: 1330
Merit: 326
November 28, 2019, 12:26:55 AM
#80
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump?

No, it's not early. This is a preparation for the big pump coming next year for halving event. It's not surprising at all. Actually, we had experienced the "worst bloodbath" last year, so why worry? As long as you still hold, a major pump to be expected will gonna occur soon.

Quote
What do you think has created this dump?

Many news are spreading, some said the hacked issues in Upbit affected the another dump price today. Some said, China's statement, etc.
hero member
Activity: 1106
Merit: 506
November 27, 2019, 11:13:18 PM
#79
in my opinion actually bitcoin doesn't need a reason to fall or go up. bitcoin since the beginning was very volatile. but sometimes the news about bitcoin coming from strong countries like China and America can also influence the movement of bitcoin prices. or the decline in bitcoin yesterday was the work of the popes manipulating the market. it is all just a prediction. the rise and fall of bitcoin is certainly influenced by demand and supply.
hero member
Activity: 2716
Merit: 552
November 25, 2019, 10:30:05 PM
#78
but playing with prices is not good for investors and prices bitcoin because fall every time in prices will make investors always at panic and fear


Who says price fluctuations is not good for the investors?
Bitcoin's volatile nature is an indicator of a healthy trading activities. If you see the price becoming stable at some point, that probably means there's not much trading activities happened in several exchanges.
Price correction doesn't make a smart investors panic or fear, instead they will find it as an advantage to earn more in the future by purchasing more supply  while the market is down.
legendary
Activity: 1806
Merit: 1521
November 25, 2019, 02:03:46 PM
#77
What direct impact? All the Chinese government did is state they will enforce the trading ban that's been in effect since 2017. I don't see how that affects miners or mining pools.
So you are saying, Chinese government is against crypto trading, but can close their eyes on miners? But miners will do crypto trading anyway. They dont mine just to obtain and store crypto. 

The Chinese government is happy to see manufacturers mass exporting crypto miners out of the country. I also sometimes wonder what level of interest the Chinese government takes in companies like Bitmain. By now, they are probably cognizant of Bitcoin's future importance and are smart enough not to destroy China's competitive advantage there.

The ban is about preventing access to centralized exchange services, to deter regular folks from speculating. They might take a different view of miners (who are generally capitalized businesses) and retail speculators (regular people who are pouring their savings into high-risk assets). Either way, they know banning exchanges won't stop speculation entirely, including from miners. They are just trying to stomp out the hype to keep it to a minimum.
sr. member
Activity: 1236
Merit: 252
November 25, 2019, 01:51:36 PM
#76
Price didn't pump because of China, nor did it dump because of them.

I've heard that biggest bitcoin mining pools are located in China. Every negative news about crypto and bans from Chinese government directly impacts on them. That is why a slight fart from Chinese gov. drops bitcoin price (imho).

China has very cheap electricity and it is a huge country, so it is very likely that it has the largest number of BTC mines as a percentage. Also the political situation in this country is quite "strange", so all information and even rumors about cryptocurrencies are received quite nervously by the entire market. However, it is very unlikely that only one information from China could be so violently manipulated the price of Bitcoin.
To some extent, you are right that China gets more chances to earn From mining than us for cheap bills and mining is all about elasticity. But to be honest one of cousin live in China and he told me there are no chances to get any bad news from China about crypto that’s why Better keep holding and it could be just scam from scammers or whales so you don’t need to listen to them.
legendary
Activity: 2464
Merit: 1102
November 25, 2019, 12:32:40 PM
#75
I think Chinese government will soon change their mind. Maybe that could be exactly the reason why the price went down? I mean whales knows that if china goes into bitcoin world there will be a HUGE skyrocketing in price so they wanted to get the price low and wanted to get as much as they can before China decides to get into bitcoin world as well.

They have talked about lifting the bans and also researching blockchain and allowing exchanges that does legally work in their country to exist and so forth which are all great news, which means if there is a sudden increase in attention to bitcoin by China there is a chance whales know about it and they are working to get more bitcoins from cheap in order to profit a lot more later when china increases the price.
sr. member
Activity: 1372
Merit: 264
November 25, 2019, 08:07:39 AM
#74
Price didn't pump because of China, nor did it dump because of them.

I've heard that biggest bitcoin mining pools are located in China. Every negative news about crypto and bans from Chinese government directly impacts on them. That is why a slight fart from Chinese gov. drops bitcoin price (imho).

 I don't think that china is to blame because of the market crisis and we all know that not that just china has a big impact but other country, and i always hearing about the chinese crypto and they are the cause of the dump.

And we can just calm down and wait foe the price to rise again since it will happen for sure that's why we need to improve our skills and knowledge regardinf thia situation and take advantage of the market.
legendary
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
November 25, 2019, 07:20:17 AM
#73
Price didn't pump because of China, nor did it dump because of them.

I've heard that biggest bitcoin mining pools are located in China. Every negative news about crypto and bans from Chinese government directly impacts on them. That is why a slight fart from Chinese gov. drops bitcoin price (imho).

Well here is the current distribution of mining pools:



F2pool, antpool, btc.com and Dpool are all based in China.
sr. member
Activity: 896
Merit: 268
★777Coin.com★ Fun BTC Casino!
November 25, 2019, 07:06:00 AM
#72
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

It is in the nature of crypto currency being unpredictable. In addition, you have stated that majority are expecting a dump before pump but we had experienced pump early than pump in which must not happened. Though I do think that it is natural that such dump must be happened, well anyway I do think it won't get below 6k mark though it closely approach.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
November 25, 2019, 04:45:14 AM
#71
What direct impact? All the Chinese government did is state they will enforce the trading ban that's been in effect since 2017. I don't see how that affects miners or mining pools.

So you are saying, Chinese government is against crypto trading, but can close their eyes on miners? But miners will do crypto trading anyway. They dont mine just to obtain and store crypto. 

I think the Chinese government will open their eyes about cryptocurrency. And they will allow the miner and trader to use cryptocurrency. They will see that cryptocurrency can bring a good future for their people because their people can have a better life. But I don't think that the current bloodbath because of them because there will be many more things that can bring the price to get down. I believe this bloodbath will not say for a long time because after this we are going to see the rise of bitcoin.
legendary
Activity: 2492
Merit: 1215
November 25, 2019, 03:19:29 AM
#70
What direct impact? All the Chinese government did is state they will enforce the trading ban that's been in effect since 2017. I don't see how that affects miners or mining pools.

So you are saying, Chinese government is against crypto trading, but can close their eyes on miners? But miners will do crypto trading anyway. They dont mine just to obtain and store crypto. 
sr. member
Activity: 2506
Merit: 368
November 24, 2019, 01:42:58 PM
#69
Most people tag this dump to the police raid on binance office in Singapore and others also tag this dump to china announcing the closure of some of its local exchange.  But looking at charts and predictions this dump has been predicted and anticipated considering bitcoin quick jump to $10k, by market history and charts a little correction ia needed and this is what is happening now. The dump might persist for sometime but after the correction we might aee another ATH for bitcoin and some other altcoin
As far as I know that the binance raid was a hoax/fake news. Don't just believe on what you saw, read, or heard on the internet—always do your own research first before making some stories.

Anyway, this dump is just a temporary fallback since most of them were holding that's why a few FUDs will make the newbies and weak-handed people start to panic selling and as a result the market suddenly go down. Although this is also a good sign to start reinvesting if funds are available and hodl til the bull market comes.
sr. member
Activity: 756
Merit: 251
World's First Crowd Owned Cryptocurrency Exchange
November 24, 2019, 01:20:54 PM
#68
Most people tag this dump to the police raid on binance office in Singapore and others also tag this dump to china announcing the closure of some of its local exchange.  But looking at charts and predictions this dump has been predicted and anticipated considering bitcoin quick jump to $10k, by market history and charts a little correction ia needed and this is what is happening now. The dump might persist for sometime but after the correction we might aee another ATH for bitcoin and some other altcoin
hero member
Activity: 2002
Merit: 516
November 24, 2019, 09:16:55 AM
#67
Price didn't pump because of China, nor did it dump because of them.

I've heard that biggest bitcoin mining pools are located in China. Every negative news about crypto and bans from Chinese government directly impacts on them. That is why a slight fart from Chinese gov. drops bitcoin price (imho).

China has very cheap electricity and it is a huge country, so it is very likely that it has the largest number of BTC mines as a percentage. Also the political situation in this country is quite "strange", so all information and even rumors about cryptocurrencies are received quite nervously by the entire market. However, it is very unlikely that only one information from China could be so violently manipulated the price of Bitcoin.
legendary
Activity: 1806
Merit: 1521
November 23, 2019, 06:32:16 PM
#66
Price didn't pump because of China, nor did it dump because of them.

I've heard that biggest bitcoin mining pools are located in China. Every negative news about crypto and bans from Chinese government directly impacts on them. That is why a slight fart from Chinese gov. drops bitcoin price (imho).

What direct impact? All the Chinese government did is state they will enforce the trading ban that's been in effect since 2017. I don't see how that affects miners or mining pools.

China is a huge market for Bitcoin speculation. So yes, anti-crypto sentiment and actions from the government can help catalyze technical dips in price. I would contend these dips were likely to occur anyway. In 2017, shortly after China passed its exchange trading ban, BTC went from $1,800 to $20K.

That's how you know the larger market context is what's important, i.e. whether we're in a bull or bear market. In a strong bull market, bad news gets quickly bucked and the uptrend continues.
hero member
Activity: 2184
Merit: 531
November 23, 2019, 05:44:19 PM
#65
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

When China make law that calling blcockhain a scam is against law Bitcoin price jumped from $7500 to $10000. I guess people mixed blockchain with Bitcoin. Two days ago this was explained more in details, so price fell from $8000 to $7000.

Only an idiot would think that blockchain is not bitcoin. Blockchain was made for bitcoin and they will work as a pair forever. You can use blockchain for other things but its main function will always be bitcoin.

I wouldn't take China's stance for granted. 5 years ago they were ok with Bitcoin and were planning their own cryptocurrency, 4 years ago they banned exchanges, 2 years ago there were rumors about them planning to ban mining, this year they said blockchain is legit and then warned that exchanges avoiding bitcoin trading ban will be prosecuted. They are less stable than bitcoin Cheesy
legendary
Activity: 2492
Merit: 1215
November 23, 2019, 04:08:29 PM
#64
Price didn't pump because of China, nor did it dump because of them.

I've heard that biggest bitcoin mining pools are located in China. Every negative news about crypto and bans from Chinese government directly impacts on them. That is why a slight fart from Chinese gov. drops bitcoin price (imho).
legendary
Activity: 1806
Merit: 1521
November 23, 2019, 03:58:36 PM
#63
Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

It probably did cause a dump, but if you take a look at the charts, prices have already been steadily dropping the past few days. Pretty crazy that this happened after all the optimism people had in China though lmao.

But yeah, this might just be people waking up and realizing that China is no friend of crypto's

Price didn't pump because of China, nor did it dump because of them. Maybe the media attention exacerbated the moves, but they weren't the root cause.

Everyone is always trying to link price changes to events because that's how our brains work. We're always trying to analyze and rationalize changes. The reality is more complex and esoteric than that.

Price causes feedback loops because of investor psychology. As the price drops, investors become increasingly pressured to cut losses, causing further price drops. Rinse/repeat. Eventually this can end in a capitulation where buyers are forced out of the market en masse.
legendary
Activity: 2730
Merit: 1288
November 23, 2019, 02:01:41 PM
#62
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

When China make law that calling blcockhain a scam is against law Bitcoin price jumped from $7500 to $10000. I guess people mixed blockchain with Bitcoin. Two days ago this was explained more in details, so price fell from $8000 to $7000.
sr. member
Activity: 1176
Merit: 286
November 23, 2019, 01:46:24 PM
#61
this dump its a signal that another new bull run comming next months. sometime correction good for bitcoin stronger more than past . but playing with prices is not good for investors and prices bitcoin because fall every time in prices will make investors always at panic and fear
i hope prices to stable over 10000 usd per btc next days
sr. member
Activity: 2002
Merit: 250
November 23, 2019, 01:19:07 PM
#60
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?
as far as I know this is because the Binud office FUD was closed in shanghai because of the police,
I don't know why they did this FUD do they not have a heart ?,
whereas CZ said if they did not have an office there, this made everyone disappointed with media!
hero member
Activity: 2002
Merit: 516
November 23, 2019, 12:11:58 PM
#59
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

You're right, it's too early to dump before the bull run. I think this is not a real dump, but just a test of market situation. Whales just check how big panic they can make and how deeply they can lower the price. We'll probably see a few more such attempts before this real dump.
legendary
Activity: 3318
Merit: 1133
Leading Crypto Sports Betting & Casino Platform
November 23, 2019, 07:40:49 AM
#58
Pre-halving is equal to bloodbath and post halving could be the green light for selling again.

But as they say, this could be another manipulation. A month ago there have been rumors about a no manipulation trend. They will not do it.
We expected it so we hold, but then again we are tricked.
Looks like the whales are getting more witty as time goes on.
They know people are going to expect for a price dump and so they still did it. A new wise strategy.
copper member
Activity: 228
Merit: 23
November 23, 2019, 06:47:21 AM
#57



We are getting close to the bottom imo. If price breaks below $6k for an extended period, the overall uptrend of the last 10 years will be broken.
This was from a tweet from Tuur on twitter. Now is the time to start scaling in and buying.
legendary
Activity: 2492
Merit: 1215
November 23, 2019, 06:17:57 AM
#56
There was a news from china that said china's central bank are anti with cryptocurrency that made bitcoin's price dropped significantly. The bad news from china is always succeed make the price of bitcoin fall down. And also based on the chart history, december will always bad days for crypto because many people are cashing out and sell theirs.

I dont believe that cashing out can drop the price so much. Like in 2018 people started to cash out for Xmas, NY, Chinese NY; all the holidays have ended, but the prices remained to go down.
hero member
Activity: 1694
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November 23, 2019, 05:50:40 AM
#55
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

There was a news from china that said china's central bank are anti with cryptocurrency that made bitcoin's price dropped significantly. The bad news from china is always succeed make the price of bitcoin fall down. And also based on the chart history, december will always bad days for crypto because many people are cashing out and sell theirs.

Every once in a while we have some bad news from China, and every time people think that this bad news are affecting the price in a negative way. Maybe it's true, maybe not, I think that we give them too much credibility, but who knows. We have been in similar situations many times, price drops without any reasonable explanation. I don't like conspiracy theories, the price is down and we can't do much about it except to buy the dip!
sr. member
Activity: 980
Merit: 252
November 23, 2019, 04:57:34 AM
#54
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

There was a news from china that said china's central bank are anti with cryptocurrency that made bitcoin's price dropped significantly. The bad news from china is always succeed make the price of bitcoin fall down. And also based on the chart history, december will always bad days for crypto because many people are cashing out and sell theirs.
sr. member
Activity: 1400
Merit: 259
November 23, 2019, 04:38:35 AM
#53
Too early yeah.
But as they say also, before December this kind of thing really happens.
I guess that was also before the halving at 2016.
I have read it once in trading section and there are graphical images. Just cannot see the thread anymore.
But, it looks like this is just the start for them to buy at a cheaper price.
hero member
Activity: 1974
Merit: 502
Vave.com - Crypto Casino
November 23, 2019, 02:30:06 AM
#52
Seem all are just manipulation including this news about binance office in Shanghai which is not really true and then there is this China disposing exchanges. Probably just a price manipulation to give another chance for the institutions who had not been investing more on BTC to get into it right now before its too late for them. Cryptocurrency is just too ripe for the picking and with the coming halving, this is got to be the whales message to say get on board!
I agree on your opinion. The volume of BTC in Bakkt during bloodbath always plummeted and this os not a coincidence. Institutional investors are manipulating price  to enter lower in BTC. This BS greedy don't care about crypto but only think for there personal gain. I already halt on trading because there is no strong support near the current price level.

Always stay calm and don't take a serious attachment on current bloodbath, and as long as manipulation always dominates there's no way to handle it over. Greediness will always create more chaos, that's why we need to overcome fears instead of ranting at worst cases. Hopefully all of the speculations regarding the support for bitcoin, could establish a huge potentials in the upcoming year 2020. We should wait for the whales to take over the corrections and help the price bounce higher.
copper member
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November 22, 2019, 08:46:43 PM
#51
Seem all are just manipulation including this news about binance office in Shanghai which is not really true and then there is this China disposing exchanges. Probably just a price manipulation to give another chance for the institutions who had not been investing more on BTC to get into it right now before its too late for them. Cryptocurrency is just too ripe for the picking and with the coming halving, this is got to be the whales message to say get on board!
I agree on your opinion. The volume of BTC in Bakkt during bloodbath always plummeted and this os not a coincidence. Institutional investors are manipulating price  to enter lower in BTC. This BS greedy don't care about crypto but only think for there personal gain. I already halt on trading because there is no strong support near the current price level.
legendary
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Don't let others control your BTC -> self custody
November 22, 2019, 08:42:35 PM
#50
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

Fucking cointelegraph and other stupid so called reporters. All they can do is repeat stupid tweets after some random people from China. They can't translate it, can't confirm it, don't want to spend some time actually paying an unbiased chinese person to do it for them...
Crypto community should boycott these FUD sites. Zero tolerance for bad journalism.

https://twitter.com/boxmining/status/1198009174883360769

Once again, Binance was not raided.
CZ confirmed it too. Unless he's not afraid to lie to the public there was no raid on his exchange and the more news from China I read the more it looks like cointelegraph is lying here.

BTC dump now is normal after BTC suffered a pump a month ago, and now things are back down.

It's normal!  Grin

sr. member
Activity: 1190
Merit: 306
November 22, 2019, 03:34:20 PM
#49
In bear market when many are selling, many are buying the same.
While that is true, that for every sale there is both a buyer and a seller, in bear markets there are more sellers than buyers, and sellers are willing to sell at increasingly lower prices.  That's how it works.

This isn't a bloodbath, by the way.  If bitcoin had dropped to $4000 since wednesday, then I would be willing to call it such but it wasn't that bad.  It was *kinda* bad but could have been a lot worse.  It might even get worse but I'm hoping not.

Everyone (as always) will think BTC is crashing which causes more fuzz.
Fuzz?

Yesterday the police closed down Binance office in Shanghai.
That's interesting, and I'll have to check out the article to see why that was done.  But as far as its effect on bitcoin, I don't think one office being shut down would have much at all.  We've seen entire exchanges go bust before without causing bitcoin to fall much, and there's got to be a better explanation than this.
full member
Activity: 672
Merit: 100
November 22, 2019, 11:26:17 AM
#48
There are currently reports from China that as many as 39 crypto exchanges have been banned, so investors have moved to sell their assets and withdraw money. I have not verified if this information is true, but I feel that is a good reason for the collapse of bitcoin this week.
legendary
Activity: 2282
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November 22, 2019, 11:01:17 AM
#47
Seem all are just manipulation including this news about binance office in Shanghai which is not really true and then there is this China disposing exchanges. Probably just a price manipulation to give another chance for the institutions who had not been investing more on BTC to get into it right now before its too late for them. Cryptocurrency is just too ripe for the picking and with the coming halving, this is got to be the whales message to say get on board!
hero member
Activity: 2114
Merit: 619
November 22, 2019, 10:58:16 AM
#46
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?
I think this was a situation which should have arised around a month ago. BTC had it's death crossover on the daily chart and people were almost sure that it would go down. Then all of sudden it surged 30% in a day creating a sort of artificial pump which made people sure that we are out of the mess but once again after a bit surge the Death crossover on daily chart took place and we are once again standing the same situation. I don't think this one is an artificial dump.
sr. member
Activity: 625
Merit: 258
November 22, 2019, 10:53:42 AM
#45
If we follow previous years we notice some trend meanwhile this season (November, December, January) where prices flows right to the bottom.
Everyone (as always) will think BTC is crashing which causes more fuzz.
This fuzz makes even more decreases as people keep rumoring about it and sell immediatly as a solution to their stress and trust on price grow.

Altough i also think one of the reasons has to be with Binance's Shanghai office shut down as there were alot of investors and this can have their repercussions.
sr. member
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November 22, 2019, 10:53:08 AM
#44
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?
No need to panic because everything is just a normal occurrence for this month. Some experts say that in 2020 there will be a great bullish price to come and some predicted that the price of bitcoin may rise beyond to its last ATH price. But i still can't see the reason if what they said is true because the trend today tells me that it's impossible to predict the future.
legendary
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November 22, 2019, 10:45:55 AM
#43
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?
Nah, it's too early for that. Halving is not for months to come, and the dump should happen (if it follows the pattern of the previous one) after that. So clearly, that's not the reason. Binance Shanghai office getting closed by the police could do the thing, on the other hand. Hopefully, though, if this is the reason and the info about the CEO is true, it will not last for long. According to this, there was no police raid and no office is closed, it's just fake news encouraged by Binance competitors. The prices took a big hit, and I think that the future depends on who's telling the truth.
full member
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SOL.BIOKRIPT.COM
November 22, 2019, 10:42:24 AM
#42
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Strategies here and there I guess,  If the whales really had the power to turn the tides then this is it. After this and the halving is done, who do you think is the one that wins this game? The whales are, this just a repetition of the past, people will sell due to panic and then lose money, again later on they cry and buy bitcoin again with high price that the whales are selling bits by bits.
sr. member
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Merit: 250
November 22, 2019, 10:35:44 AM
#41
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

The news is only FUD CEO Binance @CZ has given his tweet on twitter: https://twitter.com/cz_binance/status/1197673244452478976 so the decline is not due to that influence, and I think this dump was done by the pope and many are panicking so many sell and then the whale is ready to buy it to face halving.
sr. member
Activity: 1638
Merit: 261
November 22, 2019, 10:28:52 AM
#40
Bitcoin has to fall now to rise again soon. The market is being prepared to enter the halving season, that is going to happen in may of 2020. Many investors believe it's a great chance for decent profit, so nothing better than dumping the price to buy it cheaper, increasing the profit later.
Probably the big hodlers are playing with the market and all we can do is to wait patiently, focusing now in what 2020 will bring.

Yes seems like the predictions were right and I think we need to consider this as a slingshot but we need to stick to Bitcoin as you can see good volume of conversion in major trading platforms for bitcoin to USDT in order to buy back when the market hits rock-bottom. I hope new users adapt to the market trend.
hero member
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November 22, 2019, 10:21:18 AM
#39
Bitcoin has to fall now to rise again soon. The market is being prepared to enter the halving season, that is going to happen in may of 2020. Many investors believe it's a great chance for decent profit, so nothing better than dumping the price to buy it cheaper, increasing the profit later.
Probably the big hodlers are playing with the market and all we can do is to wait patiently, focusing now in what 2020 will bring.
sr. member
Activity: 1610
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November 22, 2019, 10:19:26 AM
#38
There is nothing to panic, it is what is called bear market. Those who are selling their Bitcoin in this market are losing out. As per the historical data on Bitcoin price.

22/11/2017 - $8253
22/11/2018 - $4365.

As compared to last year we are still in a better position,. Therefore stay calm and stay positive.
In bear market when many are selling, many are buying the same. I have set my own rate of BTC at which I will start buying. Dip for many is not a problem rather an opportunity to buy.
legendary
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November 22, 2019, 10:13:04 AM
#37
There is nothing to panic, it is what is called bear market.
I don't know if this is actually a full-blown bear market, but it would appear that sentiment is quite bearish right now.  And what it really looks like is that bitcoin is just trading in a wider range than it usually does--$7000-$9000.  But who knows, the market could be in for more slaughter and bitcoin might drop even lower than $7k.  I'd like to see it not do that, or course, but I'm fully aware that it could. 

Unfortunately I've bought all the bitcoin I can for right now so I won't get to take advantage of the lower prices, which I see as a fire sale.  Now would be an even better time to get into the market if you're not already, but only if you're going to hold for the long term.  In the short term, things could get uglier. 

I'm going to stop watching the price for now, though it's hard to not know what bitcoin is doing since I see all the thread titles in the Speculation section and usually when bitcoin rises or falls in a dramatic fashion, those titles give it away and I end up checking preev.  lol.
hero member
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November 22, 2019, 09:52:10 AM
#36
Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.
According to the news posted by Bloomberg, Binance denied the rumors that an office in China was raided by Police Officers. Binance claims that they don't have any fixed office in Shanghai and China this was the press release by the spokesperson based in Malta. So this more of a FUD. Good time to buy and get more Bitcoins. https://www.bloomberg.com/news/articles/2019-11-21/crypto-exchange-binance-says-no-shanghai-office-amid-raid-rumors

That's a great news, hopefully this would help the investors to be confident again.

It's really dropping so fast now, in 24 hours, btc dump to 10% already and we just touched $6k again.
Binance low at the moment is $6790 - https://www.binance.com/en/trade/BTC_USDT
full member
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November 22, 2019, 09:49:09 AM
#35
Meh, Binance arrests wouldn't cause so many dumps.
IMHO one of the most realistic reasons is miner capitulation. Miners are one of the biggest bitcoin whales and when mining becomes less profitable they have to sell their mined BTC in order to save their business.
If you didn't hear about that then you may google miner capitulation. Ofc it is mostly a FUD but generaly those news have a huge influence on market.
jr. member
Activity: 65
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November 22, 2019, 09:23:18 AM
#34
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

You need to get used to BTC volatility. In fact, some grandiose events are not needed for the dump, it can be created by several whales in one moment
AGD
legendary
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Keeper of the Private Key
November 22, 2019, 09:19:11 AM
#33
Probably manipulation of the margin trading markets lead to this dump. I am buying!
hero member
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November 22, 2019, 09:08:56 AM
#32
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

One thing I have come to discover when it comes to the issue of bitcoin market is that when there is drop in prices which goes across the crypto market, we tend to look for answers to find a reason to rely upon as the why but in most cases, the reasons given to me, are just circumstantial that may or may not have any bearing to what is currently witnessed. Now we are attaching it to halving but in true sense, halving is a constant thing that everyone knows will happen. The date has been predetermined before a lot of us got into crypto how exactly is a constant factor began to affect the volatility of the market. Its purely circumstantial.
legendary
Activity: 3080
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November 22, 2019, 08:54:14 AM
#31
We also have to understand that the price surge from $7400-$9000 was artificial and everyone attributed it to the so called China news on blockchain adoption. So the whales ride on that news push the price to more than $9400 and then FOMO sets in. And now it looks like they're cashing it out and we could go back to where the price used to be $7400 or less. Not sure about the the Binance/Bithumb offices being shutdown in China, both of them have denied it already, however the damage has been done as the market price has plummeted.
sr. member
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November 22, 2019, 08:45:29 AM
#30
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

In my perception of the current scenario, what is happening on the cryptocurrency right now especially to bitcoin is that the market is undergoing a correction on its market price after the increase based on the Chinese adoption way back in October-November the first week. Right now, we might think of a pattern happening before a big increase in market price when the market is falling. And there is really a great chance that the market will increase because of the halving.
sr. member
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November 22, 2019, 08:38:03 AM
#29
actually the conditions of rising and falling prices in the market are common, there are many factors why prices can go up and down, maybe because it's approaching Christmas and the new year so many people sell bitcoin for vacation plans, or maybe this is a game to panic bitcoin holders so people sell bitcoin, so people who play with bitcoin prices get cheap prices.
legendary
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November 22, 2019, 08:34:10 AM
#28
Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

Binance has responded to that. You guys all know Binance left China a long time ago, right? The moved to Hong Kong, and then out of it.

There is no Shanghai office to close down. But of course, people will follow the news:

- Quantum computing threat? Panic
- China ban? Panic
- Facebook Libra? FOMO

It never ends, does it?
full member
Activity: 938
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November 22, 2019, 08:26:58 AM
#27
Not new to us having this scenario, in fact, for the 10 years of existence, I don't think we need to worry about it. What I'd look now, the market behaves as what is to be. May we don't see a positive response from the community but I'm still hoping to have a twist in the coming days and we will end up this long bearish season.


We all know that the market are still in bear market and were experiencing a crisis and i think we can take advantage of the market since we can buy while its cheap and i know that the market will rise up soon and make a lot of profit.

That's why we need to have a stop-loss position since we might lose our funds and not able to caught uo while the market is in dip.
Then buying some Bitcoins and potential altcoins is a good option right now.
hero member
Activity: 2646
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November 22, 2019, 08:10:53 AM
#26
~snip~

As soon as I saw the drop on preev I had a hunch that China was behind it, and to confirm my suspicions I did a quick google search and found out that I was correct they were back to haunt bitcoin users. What puzzles me most is that China targeted illegal exchanges, but news reports are saying Binance and Bithumb offices were raided it’s just not making any sense. When you read the article further they’re claiming that they’ll entirely ban bitcoins, which can only mean one thing i.e. they’re preparing to launch their own centralised crypto and very soon we will witness the official launch of it.

Source: https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges
sr. member
Activity: 1372
Merit: 264
November 22, 2019, 08:04:44 AM
#25
We all know that the market are still in bear market and were experiencing a crisis and i think we can take advantage of the market since we can buy while its cheap and i know that the market will rise up soon and make a lot of profit.

That's why we need to have a stop-loss position since we might lose our funds and not able to caught uo while the market is in dip.
hero member
Activity: 1078
Merit: 507
November 22, 2019, 07:51:44 AM
#24
Bitcoin went up significantly in august and september. For that price to shoot more up, more volume was needed to sustain the pump. But unfortunately, bulls went weak there. Bears overpowered them. Price has come down to almost 50% of this year's ATH. At every support bulls didn't sustain and supports were broken one after the other.

There isn't any major reason for the fall. It is just there isn't much volume which can pump the price or to even hold the support.
legendary
Activity: 1638
Merit: 1033
November 22, 2019, 07:38:08 AM
#23
BTC dump now is normal after BTC suffered a pump a month ago, and now things are back down. And currently bitcoin is still in the hor support area, I myself am still monitoring the next situation while hoping it will bounce back.
newbie
Activity: 2
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November 22, 2019, 07:36:25 AM
#22
I think beside the rumors of Binance, the current tanking of the market is the result from panic selling from some Chinese crypto-traders or holders as
today the PBoC ( and some local government entitis)claims to initiate an action for investigation and clearing the so called "illegal ICO, IEO,STO IFO platforms and any entity or exchange trading virtual currencies inside China.  remember the 04.Sep.2017 China bans all exchanges and expells all outside of country, but right now in China there are still some big or small exchanges offering trading services to the Chinese, they become target of the government.  China is always pro-blockchain but against all ICO, coins or tokens in any form.
you could say the Chinese traders are not as important or vital to bring a substantial market pump or dump influnce as they did years ago, but they still stands for a significant portion and has certain impact to the market (if they don't leave this market).
jr. member
Activity: 108
Merit: 1
November 22, 2019, 07:31:02 AM
#21
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

The Binance office in Shanghai is just a small drop in the crypto sea. I do not think that this event could have such a sharp impact on the market. Most likely, large players are manipulating the market, we just don’t notice it
hero member
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November 22, 2019, 07:30:20 AM
#20
Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

It probably did cause a dump, but if you take a look at the charts, prices have already been steadily dropping the past few days. Pretty crazy that this happened after all the optimism people had in China though lmao.

But yeah, this might just be people waking up and realizing that China is no friend of crypto's:

“This price drop is a technical move; this is where the price was before the news of China’s support of blockchain, which is not crypto,” said Joe DiPasquale, chief executive officer of BitBull Capital. “So, the price of Bitcoin is simply returning to normal. However, more downside cannot be ruled out, since the recent drop has turned sentiments to negative.”
legendary
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November 22, 2019, 07:21:45 AM
#19
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

I thought Binance had moved to Japan and Malta to avoid being under threat from the Chinese government?
newbie
Activity: 10
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November 22, 2019, 06:44:53 AM
#18
China is suppressing blockchain companies
legendary
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Not your Keys, Not your Bitcoins
November 22, 2019, 06:31:39 AM
#17
I wouldn't necessarily name this a bloodbath, but a continuation of the downtrend we currently reside in. We still have a pretty significant support around the $7000 area, so once we break that I would call for a real "bloodbath". Until then I would say that we are still on the "safe" side, but don't take my word for it. Do your own analysis and come with your own decisions.
legendary
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November 22, 2019, 05:45:48 AM
#16
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

It is possible that the fear of Chinese holders takes place.  Whether the news is true or not, there is always someone who will believe a rumor specially when it is broadcasted by a reputable source.  So I guess it is the frightened Chinese nationals who are selling their Bitcoin stash being afraid of the possible bad thing that may happen if the Chinese government track them that they are trading Bitcoin.
sr. member
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November 22, 2019, 05:35:06 AM
#15
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

This dump was already predicted on this forum, and most statements related with price to go down towards $7k then it happened. These days, as far as reality was raging against predictions maybe it's good to observe on small expected price instead of predicting much higher price. For now I can't merely see the exact reason why this dumps crumpled the current bloodbath, but the only opinion was panic of some weak holders.
Can you give us the reference for this price prediction on this forum? Maybe I miss this one and I wanted to see if the prediction is going as it is predicted.

Some say that this is because of the binance issue in Shanghai, but I don't see it as big news, maybe there is a more deep reason for it, let's just wait for updates and see what will happen to its price for the following days.
sr. member
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November 22, 2019, 05:34:48 AM
#14
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.
in the middle of this year when the price of bitcoin rose almost to touch $ 14k, a lot of the news about binance got hacked around 40 million dollars and it didn't affect the price of bitcoin at that time, i'm also not sure about news about binance in shanghai, there is no influence on the news, i look at prices looking for new buying support and let's see people go with panic burning beards
sr. member
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November 22, 2019, 05:27:33 AM
#13
I don't know the reasons and there's no need for me to know what's driving the market into this continuous dump. Let us not forget that early this year the price quickly jumped so this might be the turn over for that run. It's not favorable and lovely to see the charts because the market keeps on flushing down. If the end of the year isn't going to give us the Christmas that we would want to see, then it's fine. We can move forward to the next year.
Personally I believed this just the normal price action looking back or referenced to last year price behavior of bitcoin the price drop before the end of the year going low as $3300 before the price recovered later, I am of the opinion that the same scenario is about to play I don't believed that some whales are manipulating the price or the rumored closing down of binance office in china is sole responsible for the dump in the price of bitcoin.
sr. member
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November 22, 2019, 05:21:17 AM
#12
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

This dump was already predicted on this forum, and most statements related with price to go down towards $7k then it happened. These days, as far as reality was raging against predictions maybe it's good to observe on small expected price instead of predicting much higher price. For now I can't merely see the exact reason why this dumps crumpled the current bloodbath, but the only opinion was panic of some weak holders.
hero member
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November 22, 2019, 05:18:04 AM
#11
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?
There always seems to be a small dump, at the end of every year during the December to November period, and I remember this happening in the last 3 years, so I wouldn't really put it down to a single reason or panic. Only a small dip as well, not a bloodbath.

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.
I don't think Binance or their Chinese market is really big enough to the affect the BTC market, and it's not like any whales or any customers lost money, it was mostly Binance who got the short end of the stick here.
legendary
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November 22, 2019, 05:14:36 AM
#10
According to the news posted by Bloomberg, Binance denied the rumors that an office in China was raided by Police Officers. Binance claims that they don't have any fixed office in Shanghai and China this was the press release by the spokesperson based in Malta. So this more of a FUD. Good time to buy and get more Bitcoins. https://www.bloomberg.com/news/articles/2019-11-21/crypto-exchange-binance-says-no-shanghai-office-amid-raid-rumors

FUD by well known source as cointelegraph? That's strange... Even though they wrote an article Binance Denies Police Raids, Very Existence of Shanghai Offices after. But like I've said, I wasn't 100% sure that all these cause price drop. I've only presumed that could be a reason.

Anyway, these doesn't look like a simple pump and dump.
legendary
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November 22, 2019, 04:56:04 AM
#9
Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.
According to the news posted by Bloomberg, Binance denied the rumors that an office in China was raided by Police Officers. Binance claims that they don't have any fixed office in Shanghai and China this was the press release by the spokesperson based in Malta. So this more of a FUD. Good time to buy and get more Bitcoins. https://www.bloomberg.com/news/articles/2019-11-21/crypto-exchange-binance-says-no-shanghai-office-amid-raid-rumors
hero member
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November 22, 2019, 04:53:50 AM
#8
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

I don't see it a big news that should affect a blood bath, Binance has different offices AFAIK and even that office was close, they are still in operation.
They are operating in Malta, I think its where there biggest office are installed since its crypto friendly, soon, we will be back up again, this is just temporary.
mk4
legendary
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Paldo.io 🤖
November 22, 2019, 04:50:14 AM
#7
It's funny how when bitcoin pumps in price some people automatically scream "aDoPtiOn" and easily ignore the potential reasons of why a pump happened even though the recent 40% upswing was way more suspicious whereas when the price drops people are quickly looking for a reason and sometimes even screaming "mAniPuLaTiOn".

Here's the thing. There doesn't need to be a main reason; not to mention that it's almost impossible to know in the first place what caused a sudden huge price movement. It's mostly just due to simple supply and demand.
hero member
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November 22, 2019, 04:47:43 AM
#6
I don't know the reasons and there's no need for me to know what's driving the market into this continuous dump. Let us not forget that early this year the price quickly jumped so this might be the turn over for that run. It's not favorable and lovely to see the charts because the market keeps on flushing down. If the end of the year isn't going to give us the Christmas that we would want to see, then it's fine. We can move forward to the next year.
sr. member
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November 22, 2019, 04:26:43 AM
#5
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

I think there is no superb reasons for this ongoing bloodbath except that the market is getting to be cold with Bitcoin for now. And there is no real good news on the horizon that could have help Bitcoin be energized, instead we hear of the Shanghai Binance raid which is, of course, not true. This is actually a very common scenario with Bitcoin and though can be discouraging I already learned that because of this we just have to wait for months before Bitcoin can have the opportunity to be back at $10,000.

I am fearing that the coming Bitcoin halving has already been factored into the price of BTC because that can mean there can be no real bull run to happen approaching May 2020. Volatility can go either way...up or down pulling apart people's confidence on this digital asset when it goes to the south. As to who created this dump, maybe just blame it to the usual suspects whether it is true or not...the whales, the manipulators making these people really overrated as if they are the market and the only players in the market.

The Bitcoin market seems not so kind enough to be giving us a good gift this coming holiday season.
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Dimon69
November 22, 2019, 04:19:50 AM
#4
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.
I don't think it's the reason, there is no office yet in China, SOURCE : https://cointelegraph.com/news/binance-denies-police-raids-very-existence-of-shanghai-Before there are rumors of having a plan to put office there when they announce blockchain importance but no there is no office there and it's not the reason why market is in bloothbath. It can be hust because of the season of spending for holiday or simply a correction before halving.
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Top Crypto Casino
November 22, 2019, 04:12:05 AM
#3
There is nothing to panic, it is what is called bear market. Those who are selling their Bitcoin in this market are losing out. As per the historical data on Bitcoin price.

22/11/2017 - $8253
22/11/2018 - $4365.

As compared to last year we are still in a better position,. Therefore stay calm and stay positive.
legendary
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November 22, 2019, 04:00:46 AM
#2
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.
sr. member
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November 22, 2019, 03:57:16 AM
#1
We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?
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