Topic: the recent drop could be a trap 2017/3/19. (Read 1939 times)

I guess it is slowly time for reality check of your call. It is make it or brake it and the next couple of days should give the answer. In my opinion it is not a trap for sellers.

You were right in your prediction and the price of bitcoin recovered, not fully but enough so you could have made good profits if you followed your own advice regarding the price of bitcoin.

Very wise words in the sea of spam. It is one of the most important things to remember when using Bitcoin (or altcoins): don't have more money on the exchange than you can afford to lose if the exchange bites the dust.

no you just missed the point.
I am talking about the FUD that comes out every now and then. and a good FUD which is also effective uses facts. and each one of these (except the last joke about aliens attack) are using a real fact.
for example the ETF you mentioned was a fact but it has nothing to do with bitcoin. yes it was rejected but nothing in bitcoin changed. if it was accepted it could help a tiny bit to the adoption but its rejection has no effect on the price. the FUD was the groundwork of hundreds of comments saying price will fall to $700 because of its rejection and then the dumping that came after to cause panic.

or for example all the things about China! there are facts in there. China is putting anything bitcoin related under observation (but like any other sane country that is doing the same thing!). Chinese public bank meets with exchanges to talk about how they are working without regulation then you hear FUDsters say "China banned bitcoin" and price falls. that is just stupid!

and right now the same thing is being repeated. a constant spam talking about split and creating a widespread panic and anyone not noticing it will lose the battle.

But when eventually one of those criticisms is going to come true and when the market ignores it goes stratospheric regardless, that will be the next major top a la 2013/2014, i.e. when even bad news is ignored then we are in another overconfidence bubble (as of right now we are still in the wall of worry). But I am thinking more in the $5000+ or $10000+ realm (but you should refer to @miscreanity's charting for a better handle on price targets as that is just my gut feeling).

Trading has already been affected a lot, with the recent bitcoin price crash the other altcoins price and value has been changed dramatically where the price of ETH, Dash and some others has been increased and has motivated the traders to trade more in the top altcoin exchanges by increasing the trading volume in 24h really high, but at the other side the bitcoin trading I believe that has been dropped because of the recent crash and I hope it will increased because many people probably have waited for bitcoin price to go down and buy and invest more in bitcoin.

I have to disagree with you. The reason for our drop to $1,000 is merely panic among the Bitcoin community because of propaganda being spread by members on the forum and mainstream media such as Yahoo or even Coindesk. This propaganda is that there will be a fork and the Bitcoin community will be split into two parts.

This is clearly absurd. Of course there's no, as of yet, consensus however we are not needing any fork.

People just sold because of the fright of what alt coins may do. Yes, ETH and DASH are high, especially because of Microsofts widespread adoption of it.

However as mentioned, Bitcoin is a catapult. It will go back to higher levels once all FUD surrounding this fork goes away.

OP is right -- this is trap. Price has already risen back to $1050. It will get higher as we approach the next halving point.

If it forms out like a shoulder head shoulder just standing on top than the whole manouvre has been futile.
For seriously scaring people away the dip would have been below half of former hill. 950 is not even close to that.

People generoulsy giving their money to the whales are always the same, so I wonder how they have not stopped going to exchangers being robbed continuously. But after all, if they can get fooled so easily, they must no be very clever, this is a certainity.

Even in future,if any one says that aliens are going to attack bitcoin mining farms and so bitcoin price is going to fall,still the panic sellers would immediately start selling their bitcoins.It would happen as routine and big whales would benefit continuosly.

That is just a trap and nothing real behind this drop so market expert already talking about this drop. So price will be back there  from it dropped.

Lol you keep dreaming bitcoin will still remain at top no matter what you say no matter if the price drops back to 850$ that's
the only disadvantage bitcoin has as many countries are against it and that's why it keeps getting huge dumps if this would
actually happen with any altcoins like eth or anything they wouldn't have recovered for months while for bitcoin it takes only
few weeks

Agree, because price fluctuation happens in everything. it is hurting that price has gone down. but what one can do is wait for some more days then everything will be alright. from past 2 years we have seen ups and down but what i have observed is the price will not go much lower as it was on 5 years back.

just like many said its just a trap for those who are just newbie inside this system, as fluctuation will continue to happen and those who have a big nerved
will win from this investment, whatever happen just be patient and continue watching it will move up again for sure.

Bitcoin Unlimited is doomed now that I've shown it is based on faulty math. This is fundamental and the entire concept of unlimited block size is flawed. Once the market digests my revelation, there will be dumping of mining nodes for Bitcoin Unlimited. Roger Ver you really need to get better peer review of the projects you support. You are making so many YUGE technical errors and promulgating incorrect technical information. Shame on you.

I guess some of the things on your list are fact. ETF rejected is totally true. And I don't wanna be a butthurt. but just try give my opinion about that.

There is one scenario most people have not considered.

Somebody is attempting to draw BTC away from private wallets and onto the exchanges.

If there is a heist or "hack" being planned, via a known exploit, then the first thing to do is create excitement with the price, and excitement with the altcoins.

This draws BTC onto the exchanges.

As does simulating a crash in BTC. As most sellers keep their fiat funds on the exchange, Mtgox-style.

The most dangerous time as an investor is when you are emotional.

Stay safe, keep your coins off the exchanges as much as possible.

As we cannot expect only up surge all the times, now we are seeing volatility of bitcoin markets. This sudden fall is just due to we are going to another altcoin but it is a hard fork derivation of our beloved bitcoin.

I guess we need not to worry about anything this sudden price fall and hard fork. We are going to have a test phase with this new altcoin BTU like how bigger blocks will be working. Hopefully we can get implemented those changes into bitcoin core too after evaluating tests.

Its so afraid. Value is lower than 1000$ now. I do not if this crash continues in upcoming days. Trading will affect a lot than other btc commodities. It was been stable rise from the end of January but now become volatile again.

It is a bear trap for n00bs:


RogerVer's BU is lonesomely incompetent. Expect a reversal back to Bitcoin Core soon. Last chance to buy under $1000 before the rocket leaves the launch pad to $2000+. (Caveat, make sure my linked point is technically correct first ... I'm waiting peer review...)

A scaling solution that will result in Bitcoin splitting between the old Bitcoin and a new coin called BTU which will have a flexible block size and be listed on exchanges as an altcoin (but we'll see how it actually goes) and everyone who holds Bitcoin will own an equal amount of BTU as they already do in BTC.

I agree, people have started buying into Bitcoin because of the hype about its temporarily high price, but now that it's dropping some newbies have started to panic sell.  Bitcoin can't just be going up all the time.

it is manipulation and when you manipulate you don't want to kill what you have already invested thousands of dollars in. it is only one of the reason why price won't go low a lot because those who dump a big amount of bitcoin at once to make the price drop are slowly buying it back up and if things get out of hand put up big buy walls to prevent it from going lower.

on the other hand, there are many who knowing the situation, are buying bitcoin to take advantage of the situation. and it is not really the first time it happened! take a look at the charts and do some research and you'll see how many times before, there was a big so-called-news about bitcoin and it being dead that caused some down period like this.

the principle of all FUDs are always the same:
- Bitcoin being a Ponzi scheme (2009)
- Bitcoin being hacked and all private keys listed on a website (early years)
- China banning bitcoin (early years then in 2013 then 2015-16-17,...)
- MtGox running away
- M. Hearn bullshit that I can not even remember anymore
- Exchanges being hacked
- China banning bitcoin trading
- China controlling bitcoin and mining
- and the stupidest one of all China rejecting transactions from the rest of the world
- ETF rejected
- An altcoin claiming to be replacing bitcoin and report fake huge trade volumes daily and get pumped
- and now FUD about split these days
- something else in the future maybe about hell breaking lose, world war or aliens attack!

they are all the same thing. bitcoin has been under attack from all angles, it is sometimes from those who don't want to see a decentralized currency threaten their very existence or sometimes it is because someone is butthurt and missed a dip.

Do you have any idea what is the reason behind this hard crash?? It's really bad seeing bitcoin in this stage to lose it's "$1000 bottom", the crash of -$310 within few days is drastic and it's really for panic, I'm afraid that the price will not be stable even in the upcoming weeks and who knows what's the next bottom price for bitcoin, too much panic, for real.

Well the problem is that BTU nodes are dropping like flies...

That's the reason of the price drop pretty much. The community's increasing polarised, and there is propaganda everywhere on this forum.

I don't think it's a trap necesseraily because there is a legit reason for the drop, i personally think it's going to drop even more before it recovers to a normal, $1000+ level which I deem the price level that bitcoin deserves at the moment.

But people right now are already placing buy orders at 700-750 waiting for the price to drop. I don't think that bitcoin will drop that much after this.

oh no, it doesn't ... Bitcoin, it's like a catapult.

The fact is goodbye to $1,000 above and i think the price right now will still stay at the $1k below..
Much more interesting right now altcoin are getting more higher that honestly we don't experience before..  Look for the dash and ETH was active these days  and the movement is really gives you good profit if you bought them in the cheap price..

IIRC some exchanges hit a bottom of 850 today, not completely sure but I saw a graph of it somewhere. Either way, BTC seems pretty oversold right now and if anything I'd buy a little bit now and see what happens; we've been slowly slipping these last few hours but it won't last forever. I wouldn't sell (HODLing anyways ) as of now, if you're looking for short term profit it isn't happening anyways, might as well just HODL.

trap or not, the risk/reward ratio is not my ball game at the moment. Altcoins offer potentially much more interesting plays and the recent blood in the Bitcoin charts helped to make them attractive again.

they want cheap coins.






me, too.

i would think that the drop from $1100 yesterday to as of this thread is started $950, is a trap for sellers because looking at its popularity, it is not the first time bitcoin being volatile. unless bitcoin price drops to ~$850 within a day, it could be unnecessary to sell your bitcoins for some of the people will buy again.
what is Bitcoin Unlimited though?