what caused the bitcoin price to drop today? - page 3.

Rikafip

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Quote from: LittleBitFunny on November 08, 2022, 11:02:41 PM

Have you seen the recent news about SBF and FTT? I think that's what caused this drop. Currently, the FTX exchange has blocked withdrawals and it is possible that thousands of investors will fall into a similar situation as the 2014 Mt.Gox floor crash caused.

While FTX is one of the biggest exchanges (2nd or 3rd), it eventual downfall wouldn't cause the situation anything remotely similar to Mt.Gox. Hell, I don't think that even Binance is big enough to compare with h Mt Gox market share prior to collapse.

Quote from: Bazzu on November 09, 2022, 08:09:03 AM

but this time I will speculate that what caused the decline in bitcoin was because, the economic situation was down and also because of mass panic, and that would certainly make the price of bitcoin go down.

This time your speculation is wrong. Just check any crypto news portal or even browse around this forum and you will see what caused this recent dump.

Bazzu

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actually to answer your question is rather difficult too, because the decline in the price of bitcoin will be difficult to guess. but this time I will speculate that what caused the decline in bitcoin was because, the economic situation was down and also because of mass panic, and that would certainly make the price of bitcoin go down.

bitterguy28

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Quote from: darkangel11 on November 09, 2022, 05:37:18 AM

At least now we know what the real shitcoins are. ETH lost 20% in 24 hours.

Adding Dogecoin mate https://coinmarketcap.com/currencies/dogecoin/ losing 37% and that's bad

also Solana and this is how low it cost now https://coinmarketcap.com/currencies/solana/ 43% drop and also so bad to look at.

maybe we will be seeing this drop for another couple of days before showing some strong climb in the coming month of December.

Quote from: UserU on November 09, 2022, 04:44:18 AM

Quote from: STT on November 09, 2022, 01:23:23 AM

To those hoping to scoop more at a lower price, now's the time

Perfectly mentioned mate, there are lots who ask for lower entry and this is the best time Grin

darkangel11

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At least now we know what the real shitcoins are. ETH lost 20% in 24 hours.

Also, I suspect there was some planned dumping to crash the market. Someone pumped the price from 19 to almost 21k and then dumped everything to 17k. It all happened in less than 2 hours and that wasn't a normal natural market move.

What you're seeing is pure panic with people running around the forums asking what's going on, trying to do research and youtubers capitalizing on it saying that the bears won and shit like that.
The bitcoin people were buying yesterday for 20k is the same bitcoin they're now selling for 17k.
If you have some free cash set some buys at this area. You'll thank me later Wink

Dave1

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Quote from: landheer on November 08, 2022, 09:14:35 PM

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

It's that another drama has taken the market for another bad turn, similar to Luna.

This time it was FTX, weeks prior many have called that this exchanges and it's token are going to fall and collapses and that what happen here. So everyone panics again and sell whether it is bitcoin or altcoins.

But CZ comes to the rescue before it liquidates everything and buy it and now we have this new term introduces by CZ, "Proof-of-Reserves". Sort of doing audits for exchanges if they still have the money to cover for everything.

UserU

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Quote from: STT on November 09, 2022, 01:23:23 AM

The reaction is overdone but not unknown action we've had big scares similar to this. So far as the news, I think the failed exchange is to be taken over and it'll be sorted out but I could be wrong. Anyhow doubts will quickly knock the price down from lack of buyers and willing sellers, doesnt take too much to upset the balance at least for a few hours and we'll see further out.

Shame we had a nice rise going on there, this is about as harsh a retest as one could expect to see. However its closed above support so there is already some bounce back underway to speculate on.

To those hoping to scoop more at a lower price, now's the time

hugeblack

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Quote from: landheer on November 08, 2022, 09:14:35 PM

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

How long have you known or traded bitcoin? If it is from a short period, then changes of 2% to 10% are considered normal according to supply and demand and do not necessarily require a convincing reason or analysis of why the price behaves like this.

Changes of more than 10% or continuous changes for several months are what require analysis, which is often to know the support and resistance that these cryptocurrencies reach.

bittraffic

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Keep updated because the market affects the value of your coins. You may not be in any way involved in FTX but it's part of the crypto space.

Quote from: STT on November 09, 2022, 01:23:23 AM

The reaction is overdone but not unknown action we've had big scares similar to this.

And the binance may still have something to do with it. In weeks, a lot of traders are sure positive the bulls are winning and then this happens. Bullish positions must have been liquidated and all because of what CZ did. It's a wild west market still and the futures market takes more when the reaction is overblown.

STT

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The reaction is overdone but not unknown action we've had big scares similar to this. So far as the news, I think the failed exchange is to be taken over and it'll be sorted out but I could be wrong. Anyhow doubts will quickly knock the price down from lack of buyers and willing sellers, doesnt take too much to upset the balance at least for a few hours and we'll see further out.

Shame we had a nice rise going on there, this is about as harsh a retest as one could expect to see. However its closed above support so there is already some bounce back underway to speculate on.

mk4

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Look around the forums, there are a good amount of threads about FTX being insolvent and whatnot. While I think the market reaction was totally overblown, there technically is some contagion risk concerning Alameda and their balance sheet. Though we don't know for sure yet since we don't have much information.

LittleBitFunny

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Quote from: landheer on November 08, 2022, 09:14:35 PM

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

Have you seen the recent news about SBF and FTT? I think that's what caused this drop. Currently, the FTX exchange has blocked withdrawals and it is possible that thousands of investors will fall into a similar situation as the 2014 Mt.Gox floor crash caused. This could be the next market crash this year like 3AC and Luna caused. At the moment, it is not clear whether investors will lose money forever. After all, hopefully everyone needs to remember: not your keys, not your money.

rodskee

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Quote from: landheer on November 08, 2022, 09:14:35 PM

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

While this has been mentioned in some post earlier , that the Bear is still on and there are some who says price will drop to 10k this year.

I also asking about what triggered this but know what? best to take this as an advantage to buy and buy , because there are some coming years that the market will boom and surely , this buying will make you richer in that time .

lets not look at this moment as negativity , instead the positive is what we must see here and that is the chance to buy more.

landheer

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today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

Topic: what caused the bitcoin price to drop today? - page 3. (Read 522 times)