What caused the sudden slump of BTC today? - page 2.

rodalutor

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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

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.

richardsNY

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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.

TERA2

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Deb Rah Von Doom

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

1Referee

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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.

brushtooth

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I'm not certain that it is entirely down to the south korean bankruptcy filing. Although if it is it is a sign that bitcoin really doesn't have a great deal of momentum right now, the past months news like that will have simply been taken in the stride of bitcoin but now it's caused a 10% fall.

AjithBtc

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South Korean banking issue might have the impact upon bitcoin to some extent. Apart from that I see this to be a pure price manipulation, because the growth has been taking place in a gradual manner after the peak rise with large scale variations. If this is not the price manipulation, then could be a correction phase for the next forward push of the bitcoin price.

justbfa

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I think it's due to the news that broke out from South Korea about the Youbit cyber attack. But moreover it's normal for the bitcoin market to fluctuate time to time.

uslfd

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I hope it would drop more because the rise from 10K to 19K did not see any healthy correction!

The_Real_Punisher

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Time for a BCC pump. IN a few days they´ll drop BCC and buy BTC again. Business as usual.

exstasie

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Quote from: tomahawk9 on December 19, 2017, 09:54:18 AM

I'm pretty sure it was the news of the South Korean exchange 'Youbit' that filed for bankruptcy today after another cyberattack on their platform (they've had one earlier this year), this certainly could've caused some panic among asian crypto traders. I've read that the exchange told their customers they had the chance to withdraw some of their funds, so not everything was lost.

It seems doubtful that Youbit affected much. I guess the hack got some mainstream press (saw a Reuters article about it), but Bithumb alone does 70% of South Korea's volume. That doesn't leave much for Youbit.

The current action is just consolidation.

Quote from: TERA2 on December 19, 2017, 02:43:56 PM

This. . This is NOTHING. It was not sudden. it moved 5%. Significant btc move's are in the range of 30-80%

What are your thoughts here? Expecting a correction? The log trend is rising quickly, so I'm beginning to lose hope that we'll see another dip-buy opportunity before the final euphoric top. Money is pouring into alts.... everything is green right now. Feels like late 2013.

PhilippeStevens

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Not that big a dump. -10% that's just normal Tuesday in crypto, nothing to talk about.

ahmadakbari

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It's not the first time bitcoin price is falling and the reason is same as previous times. The price is being corrected.
Fluctuations in cryptocuurencies prices are normal.

VladKalashnikov

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I think the main reason that bitcoin suddenly dropped below 18k$ is this news.

https://cointelegraph.com/news/bitcoincom-cto-denounces-bitcoin-ive-switched-to-bitcoin-cash

beskid

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The price of Bitcoin increased after the futures on US exchanges started, but today the price is adjusted, Bitcoin trades at a price of about 17,700 dollars.Bitcoin could fall by 50% to the level of value that was observed last month.

icanscript

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More than a few powerful players poured the cue ball, then bought it from hamsters. This is the standard method for large players.
HODL

TERA2

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Deb Rah Von Doom

This. . This is NOTHING. It was not sudden. it moved 5%. Significant btc move's are in the range of 30-80%

LFC_Bitcoin

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Eth, Litecoin & BCH are up by a big % today, maybe people are taking profits from bitcoin & pumping alts. That money will likely be pumped back into bitcoin at some point.

Gaaara

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It's a common thing to bitcoin and other crypto since it was been popular its value goes up and down and that thing is inevitable. If there is a total manipulation to the cryptocurrencies the price won't be consistent, but having the price unstable makes it more popular for the investors, so basically no matter how unstable it is bitcoin still gets demand overtime and that is the reason for having such value as of now.

alyssa85

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It's a combination of news from South Korea and plain old profit taking.

If you've had a good run, it makes sense to take some profits, otherwise your gains are just theoretical. I think $16,000 is a support line, so it will likely bounce between $16,000 and $18,000 to the end of the year.

Flamaicon

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No biggy guys.
Relax and buy
good time to buy
Always the same wave, the same movement
In 2 days will pump again
20k next weekend and 25k new year

Topic: What caused the sudden slump of BTC today? - page 2. (Read 651 times)