We gonna talk about that flash crash?

jaysabi

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Quote from: voztata on December 04, 2017, 04:08:02 AM

Quote from: Aamir1 on December 01, 2017, 12:23:16 PM

The drop was certainly big enough to catch everyone's attention, and the reason behind that can never be known as there are a lot of things that can cause such a thing. Like panic sell, FUDs, negative talks and many more. Now any of these things can cause a price drop if it occurs anytime in the community. But to be honest, they all happened in the past as well, but this time the drop was really big. It frightened the hell out of me when i saw a post about it in twitter Grin

It is really hard to see the price going down in such a short time.

Not really everyone, that will be depending on what rate your Bitcoin was purchased. Falling back to $8k+ or 9 is not much a problem, every reduction is like an opportunity for people to buy-in quickly, and I believe there are people who did that during the flash fall. As of recently, price is back up to $10,533, and might be back to $11000 by tomorrow.

It certainly recovered and then some. However the manner in which this entire market is operating does not give me any confidence that this price level is sustainable for the long term, or even more worryingly, not a massive bubble that's going to crash on us. Unlike a flash crash in which things drop fast and recover quickly, a bubble bursting is a fast crash without the recovery. That's the definition of a bubble, and how you define it: an unsupportable price level that finally gives way and doesn't have the support to recover because it was irrational at that previous level.

PipiPoo

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BTC stabilized quite nicely to where it is now I think.
Sideway trading for a few days now.

Whats next?

voztata

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Quote from: Aamir1 on December 01, 2017, 12:23:16 PM

The drop was certainly big enough to catch everyone's attention, and the reason behind that can never be known as there are a lot of things that can cause such a thing. Like panic sell, FUDs, negative talks and many more. Now any of these things can cause a price drop if it occurs anytime in the community. But to be honest, they all happened in the past as well, but this time the drop was really big. It frightened the hell out of me when i saw a post about it in twitter Grin

It is really hard to see the price going down in such a short time.

Not really everyone, that will be depending on what rate your Bitcoin was purchased. Falling back to $8k+ or 9 is not much a problem, every reduction is like an opportunity for people to buy-in quickly, and I believe there are people who did that during the flash fall. As of recently, price is back up to $10,533, and might be back to $11000 by tomorrow.

BartS

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Quote from: Dart18 on November 29, 2017, 09:17:59 PM

A group may have decided to withdraw for now. But it is okay.
Now we knew bitcoin could go that way and could also reach heights like that.
We have hope now that another day will come and it will hit back to that price.

That is still good news. This fight aint over. Still hodl.

The price crashed very fast and then pumped very fast as well, to me this is a sign that someone dumped a lot of coins and that it is very likely that person or persons bought again at the discounted prices, that is the only way to explain the chart since it is unlikely that the recovery would be so fast without another individual of similar power waiting for that to happen, so it was a maneuver that was planned in order to extract profits from the market.

angaper

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Seeing the impressive rise in the price of bitcoin, anyone would have expected this great correction a little earlier, when breaking the $10,000 mark. Since then the bitcoin was oversold, so once the price continued to rise the pressure increased so much that a violent correction was to be expected. The fall under the $9,000 line was expected when the price reached $10,000, but as the correction was delayed, it had to occur in such a violent way.

AVAMONEY

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Currently, bitcoins price recovery is very fast. Within a few days the price returned to before declining. The bitcoins community has been strong enough to support Bitcoins forging ahead. So the crash will not happen as long as the community is still strong to pump Bitcoins back recovery.

tabas

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Quote from: creeps on November 29, 2017, 08:46:57 PM

Quote from: tabas on November 29, 2017, 03:32:08 PM

No theory at all, whales are just taking their money now. After a quick dumped, look at the charts again now as the price of bitcoin is now starting to be fueled and pumping again. And as you will notice, majority of the crypto's are on down so these whales are seriously simply taking their profits.

Indeed, and some people are just selling on panic. But still I believe that this is just the correction and bitcoin starting to pump now. Just Hold because this is not the end, this is just a start of a bright future.

Well as an update bitcoin's price now is rotating around $11,000 - $11,700 and this is something great. As I said it is fueled now and going to pump again and that is what's happening now. People who are talking about crash must be prepared all the time for their weak hearts but for long time traders, it's a good time to buy.

chichigirl

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Because we are very close to the top.. Accept this fate bitcoin will crash very hard but no one knows what rate is that. After the big crash. Our journey to 6digit btc rate will follow.

Quote from: jaysabi on November 29, 2017, 03:26:14 PM

November 29, 2017: bitcoin falls from around $11,400 to around $8,600 in about four hours. That's a flash crash if I've ever seen one. 24.5% decline, then a sharp movement back up to about $10,000 45 minutes later. The volatility is extreme, even by crypto standards. In the midst of that, I was seeing a bid ask spread over $200 where I am accustomed to it being under $1 much of the time.

Any theories on the cause?

dogandogru

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Quote from: jaysabi on November 29, 2017, 03:26:14 PM

November 29, 2017: bitcoin falls from around $11,400 to around $8,600 in about four hours. That's a flash crash if I've ever seen one. 24.5% decline, then a sharp movement back up to about $10,000 45 minutes later. The volatility is extreme, even by crypto standards. In the midst of that, I was seeing a bid ask spread over $200 where I am accustomed to it being under $1 much of the time.

Any theories on the cause?

No rocket science, Amateur investors who are here just to earn quick profits exited the market taking their profit. Still i feel the crash is not that much, I believed that BTC could touch $7500.
But it is amazing to see the quick recovery of BTC within 4 hour, I personally never expected that. I felt that situation of panic selling occur and now it will take time to get BTC stable and recover back. But this quick recovery not only in BTC but also in other alts shows the investors developed a rigid confidence and faith on crypto market.

Aamir1

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The drop was certainly big enough to catch everyone's attention, and the reason behind that can never be known as there are a lot of things that can cause such a thing. Like panic sell, FUDs, negative talks and many more. Now any of these things can cause a price drop if it occurs anytime in the community. But to be honest, they all happened in the past as well, but this time the drop was really big. It frightened the hell out of me when i saw a post about it in twitter Grin

It is really hard to see the price going down in such a short time.

bribed

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Quote from: WinTokens on December 01, 2017, 11:49:54 AM

Thankfully I was asleep during the time! My BTC is safe and sound and enjoying the near $10,000/USD level. Seems that's where things are now... Not much resistance from traders at that level.

Thing is, that something like this, flashcrashes, dips, corrections, all happen sometimes. You have to control your emotions and learn to keep calm and just sit it out. Its crypto, still a highly volatile market.

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Everything in cryptocurrency depend on supply and demand ! That's why bitcoin consider as risky investation and as far as bitcoin exist, it's fit for long term investation rather than short term.
So for who want to invest , you can purchase now and hold as long as possible !

WinTokens

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Thankfully I was asleep during the time! My BTC is safe and sound and enjoying the near $10,000/USD level. Seems that's where things are now... Not much resistance from traders at that level.

webtricks

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That's not the first time Bitcoin crashed that high. Recently on 12th November and 17th July, Bitcoin had similar crash! Basic reason for this is that crypto market is still not mature completely. 90% of the investors entering in market now are aiming for quick profits. That's why with small fall, we will see adjacent big fall due to panic selling and similarly with small rise, we will see adjacent big rise due to possible opportunity.
But still nothing to fear as HODLER because market demand is constantly rising at the moment and price is successfully backed by it.

lordquanta

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When a trader have enough bitcoins with them then bitcoin Market manipulation is a common thing in the market. We all know that there are pumps and dumps created just to have profit when market is not moving that fast. Sometimes a single company like JP recently caused the market crash from 49k to the 33k dollars by using strong words against bitcoin (classic FUD) and when market was crashed to the 33k or less they swoop in and made big splash.
So it is okay to observed this kind of behavior. People with experience will simply keep their calm and either hodl or purchase more.

Aryanto28

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if we know now bitcoin will be in its place after falling so quickly drastically I think it's not a flash accidents but a chance for buyers to trade. but unfortunately not many people are aware of what should be done at that time so that the opportunity to get to a big profit just pass without us utilize baik.begitu lah if it is in the world of crypto currency everything is nothing is certain.

jaocoincrypto18

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Quote from: trobin on November 29, 2017, 03:58:35 PM

It was certainly a rapid downfall but after all of it bitcoin is back about where it was. I think people are just taking profits and taking advantage of uncertainty in the market to swing trade.

I thought that downfall is just an another price corrections attempt in which a conspiracy to dump the bitcoin value once again but now it seems back to normal because maybe there attempt to panic the people again is just another failure. Anyway, if this is a price corrections or not the most important thing in time like this is to keep on holding and hoarding to ensure bitcoin price is always stable.

PipiPoo

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Quote from: h0lybyte on November 30, 2017, 06:03:15 AM

Quote from: ethereumhunter on November 30, 2017, 03:53:34 AM

the flash crash is another correction for the price even if it is just happening in a second but it makes people get panic. we can see again in the future and we need to be prepared and the best thing here is we can buy at a lower price because, after the flash crash, the price is back to increase again. many people want to sell their bitcoin when the price is in high price so they can prepare to buy bitcoin again.

Yeah, this is exactly how people want to play with bitcoin for the avarice of higher profits. However if everybody continue holding, bitcoin might have crossed $13000.
For now, the price is not recovering, it just lowered to $9000 and going down at bottom in 24 hours i think. But no worries, bitcoin is great in returning to its normal state.
We can expect surge again possibly only after a large decrease as whales will not pump until they see the right time

If you look at the past big "crashed" which are the China-crash in september and the recent BCH attack then one thing is amazing:

Bitcoin seems to come out of any crash with a subsequent explosion in rise. I call it the "phoenix effect"

So please, if BTC wants to crash to 500$ today - please go ahead.

The answer will be 30k $ tomorrow.

adam1230

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yesterday was the most valotile day for bitcoin. Yes i agree this was a flash crash but its more then a flash crash. Its just giving some signals to investors but who knows whats the signal?

escrow4acc

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Bitcoin is almost invulnerable to attack by hackers because of decentralization. But economically it can be tried to undermine, due to dumping

Topic: We gonna talk about that flash crash? (Read 905 times)