What caused the sudden slump of BTC today?

AmazonStuff

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Quote from: kaysersoze on December 24, 2017, 03:37:25 PM

Anyone noticed that everytime that there are bad news about bitcoin it cames from Korea? What the hell is wrong with that country against bitcoin? it seems that they want to stop it at all cost.
The same is happening from North Korea too

No, South Korea is very pro-bitcoin country, according to some sources every 3rd working citizen owns bitcoin, South Koreans love BTC, but South Korea as country is very concerned about BTC speculation in order to protect it's citizens they want to regulate crypto-currency.

aencarnaci

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Quote from: Watari on December 19, 2017, 08:25:17 AM

Well, nothing can't just always go up, right? even btc needs a breather from time to time. also, it's was a minuscule dip, %-wise.

Yeah this is a short dip giving buyers an opportunity to join the community and all this will end up soon because soon prices will go high this slump has no long time stay it will end today again prices will start going upward this is the awesomeness of bitcoin it falls a bit and then recovered with the more higher speed and price reaches to the record level and now all are waiting to cross 20k margin so that they can earn,

kaysersoze

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Anyone noticed that everytime that there are bad news about bitcoin it cames from Korea? What the hell is wrong with that country against bitcoin? it seems that they want to stop it at all cost.
The same is happening from North Korea too

bitllionaire

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Quote from: el kaka22 on December 22, 2017, 12:56:52 PM

We really cannot expect to just see some sudden movement to the uptrend and not expect to see the same movement downwards. The truth is that bitcoin has really had a huge surge this year and a lot of investors have been complaining as that absolutely does not look healthy. As per their prediction market suffered a huge corrections and now seeming to recover. I hope this correction will remain as a correction and will not turn as a crash. A quick recovery alone will differentiate a correction from a crash.

We are not expecting any serious reason for the current downfall, As Christmas is coming nearer therefore i think some people may have withdrawal their money from bitcoin for Christmas but i am sure that after Christmas the price will again start increasing, because still bitcoin price has too much potential and we are not any panic selling in the Christmas time and therefore some time the the price of bitcoin will start increasing again, and we will see the trading above 20000$ very soon. Therefore i do not think that there is any need to worry about bitcoin price.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

We really cannot expect to just see some sudden movement to the uptrend and not expect to see the same movement downwards. The truth is that bitcoin has really had a huge surge this year and a lot of investors have been complaining as that absolutely does not look healthy. As per their prediction market suffered a huge corrections and now seeming to recover. I hope this correction will remain as a correction and will not turn as a crash. A quick recovery alone will differentiate a correction from a crash.

arpon11

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Quote from: AICoin_Official on December 19, 2017, 08:19:25 AM

Just hours ago, BTC started a sudden downtrend, followed by almost all major coins, what's wrong? The regulation from Europe or the bankruptcy of the south Korean exchange? Feel free to share your analysis here.

Another analysis from Kuang Ren today, and he talks about the reason behind the surge of BCH price, you can find most pairs from global major exchanges here: https://www.aicoin.net.cn/chart/5C79AC2D

Analysis:

Finally, BCH is on its way to setting a new all-time high after having been waiting and hiding for so long, such uptrend is beyond the control of main funds who must dump their chips to pull the price down, which is the worst idea.

Therefore, the only option for them is to push price up. For investors, you can keep your chips.

Full version is here:

https://twitter.com/AICoincom/status/943097519617097728

At this stage bitcoin need to have a good positive outlook in other to help and keep bitcoin in a maintream media and there is a need for more price pumping in other to actract more investors. The current price corrections is as a result of FUD created by some that high transactions fees in other to put bitcoin cash as a replacement for bitcoin and to proof that bitcoin has a lot of issues.

maxj57634

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Quote from: AICoin_Official on December 19, 2017, 08:30:34 PM

Quote from: TERA2 on December 19, 2017, 05:25:47 PM

This isn't behaving like a megacrash. It's too slow. It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

To 10K? That's a really major correction as it sounds like. Hope people all have the same positive sentiment as you.

It is unlikely a mega crash that is happening in the market right now, but people can be positive all the time when it comes to money, when they see the price go down panic is on their mind, 15k would be the closest price.

beerlover

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Quote from: fabiorem on December 19, 2017, 08:29:13 AM

Probably the bankruptcy of the south korean exchange.

Also, North Korea is suspect of having unleashed the wannacry virus. They can also be suspect of having hacked this exchange.

And theres the opening of CME. Some bankster might have dumped his coins to drop the price and create a snowball effect in futures. Not gonna work.

It seems there is just some pretty huge attack on bitcoin and some merchants are really trying their best to see that the bitcoin core does not end up having much of a say while pushing bitcoin cash up.

I am really trying to see where this is headed anyway and now that coinbase has made btc transaction extremely expensive which it is not really their fault as the devs have been so slow, then now listing bitcoin cash, while some punks decided to dump their bitcoin for bitcoin cash, really speaks some volume.

After running a huge marathon race, you will definitely need some time to relax, take in a fresh air, drink some water possibly before starting again. That is exactly what bitcoin is experiencing right now. The truth is that we have all been waiting for huge correction to really show how healthy the market is but we have not been getting that, I guess now is the time that we have all waited for.

ElegantCy

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I think it is the interview of the assistant Btc.com chairperson that Btc price is unsustainable because of it's long confirmation time and the unwillingness of those handling the btc network to allow segwit on the network, and the fact that they see it as a store of value rather than a currency, hence hinting that Bch is the next big thing. The fact that he even cashed out all his Btc to Bch is another factor enough for fud.
In all of these, Bitcoin has always been the king of the forest, that rises up strong after going through tough times. Expect Btc to surge higher again.

AICoin_Official

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Quote from: Drnice on December 20, 2017, 02:46:05 AM

This is kind of difficult to say, in the last few weeks, the price of bitcoin was heavily rising, and now, it just drops again. Factors like whales dropping some of their coins, and a less/no new investors to bitcoin for now, and the price of altcoins are rising.

I woke up this morning to check my coinbase, and I saw that they have added BCH to their coins.

BCH definitely has influence on BTC.

1369

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Quote from: Drnice on December 20, 2017, 02:46:05 AM

This is kind of difficult to say, in the last few weeks, the price of bitcoin was heavily rising, and now, it just drops again. Factors like whales dropping some of their coins, and a less/no new investors to bitcoin for now, and the price of altcoins are rising.

I woke up this morning to check my coinbase, and I saw that they have added BCH to their coins.

Whales orchestrating their power for sure, and Coinbase officially supporting bcash certainly had an effect.

MintCondition

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Quote from: AICoin_Official on December 19, 2017, 08:29:07 PM

Quote from: richardsNY on December 19, 2017, 05:29:59 PM

It's just normal market activity at current levels and the thin orderbooks. People for some reason still haven't got used to this level of volatility, which is pretty weird considering how common it has become recently. If the market has no problems increasing with like $2k in a single day, it in a similar fashion won't have any problems decreasing with the same figures. It's something you could have figured out by yourself. It's obvious that the market won't likely eat through a critical barrier as $20k this early on, which people who understand this can use in their advantage to sell and buy back. In a single day I managed to yield 6% without much effort on this decline.

For new comer, they are easily to get panic out of insufficinent knowledge about the nature of BTC, just wait and see, the king will be back.

As always, btc will be back, it's just a buy time now, buy more and hold till it reach 20k again, it will definitely set new goal after this dump, maybe some just do trading a bit at this time.

Drnice

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This is kind of difficult to say, in the last few weeks, the price of bitcoin was heavily rising, and now, it just drops again. Factors like whales dropping some of their coins, and a less/no new investors to bitcoin for now, and the price of altcoins are rising.

I woke up this morning to check my coinbase, and I saw that they have added BCH to their coins.

AICoin_Official

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Quote from: 1Referee on December 19, 2017, 05:25:17 PM

It could have various reasons, but seeing the market take a step or two back might be what the market needs right now. I am mainly interested to see how far the market will fall back with the current demand. If the recent demand remains strong, it shouldn't tank below $15,000, but if it does, then it basically shows that even this bullish sentiment isn't going to last endlessly. I am sure that a lot people will be very happy with this decline as it will grant them a cheaper entry point. It motivates people to start transferring money to their exchanges, and that fresh capital will do the market good for sure. If the price is going up consistently, it might demotivate certain people, and this is exactly the push they need to pull the trigger and start buying Bitcoin.

Impressive and brave analysis, it does lower the entry point by almost 25% if you're right and price falls back to 15K. We'll see later.

AICoin_Official

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Quote from: TERA2 on December 19, 2017, 05:25:47 PM

This isn't behaving like a megacrash. It's too slow. It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

To 10K? That's a really major correction as it sounds like. Hope people all have the same positive sentiment as you.

AICoin_Official

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Quote from: richardsNY on December 19, 2017, 05:29:59 PM

It's just normal market activity at current levels and the thin orderbooks. People for some reason still haven't got used to this level of volatility, which is pretty weird considering how common it has become recently. If the market has no problems increasing with like $2k in a single day, it in a similar fashion won't have any problems decreasing with the same figures. It's something you could have figured out by yourself. It's obvious that the market won't likely eat through a critical barrier as $20k this early on, which people who understand this can use in their advantage to sell and buy back. In a single day I managed to yield 6% without much effort on this decline.

For new comer, they are easily to get panic out of insufficinent knowledge about the nature of BTC, just wait and see, the king will be back.

AICoin_Official

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Quote from: rodalutor on December 19, 2017, 06:33:36 PM

Quote from: TERA2 on December 19, 2017, 05:25:47 PM

This isn't behaving like a megacrash. It's too slow. It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

Down to 10k would be a pretty mega crash, there's little sign of that right now. It was simply a 10-15% drop, nothing more. If we were to reach 10k that would be an extreme crash and I don't think it would look anything like this.

Yes, now price seems to be at the edge of reversal.

AICoin_Official

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Quote from: topper26 on December 19, 2017, 07:38:24 PM

Well we are in the 16000 now and bitcoin cash is in the 3k so here is one reason for the decrease. BCH just started upon on coinbse within last half hour.

Thank you for your information, though, not everyone is excited about this.

AICoin_Official

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Quote from: Watari on December 19, 2017, 08:25:17 AM

Well, nothing can't just always go up, right? even btc needs a breather from time to time. also, it's was a minuscule dip, %-wise.

Well, BTC price has dropped by 11% now, that breath is a little bit deep.

topper26

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Well we are in the 16000 now and bitcoin cash is in the 3k so here is one reason for the decrease. BCH just started upon on coinbse within last half hour.

Topic: What caused the sudden slump of BTC today? (Read 651 times)