What caused the sudden slump of BTC today?

AmazonStuff

hero member

Activity: 628

Merit: 500

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

sr. member

Activity: 448

Merit: 281

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

full member

Activity: 220

Merit: 100

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

legendary

Activity: 1120

Merit: 1000

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

legendary

Activity: 3710

Merit: 1170

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

sr. member

Activity: 882

Merit: 282

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

full member

Activity: 168

Merit: 100

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

legendary

Activity: 3052

Merit: 1188

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

full member

Activity: 424

Merit: 100

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

legendary

Activity: 1623

Merit: 1067

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

legendary

Activity: 1147

Merit: 1007

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

sr. member

Activity: 588

Merit: 251

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

full member

Activity: 165

Merit: 101

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.

rodalutor

full member

Activity: 364

Merit: 105

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

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

legendary

Activity: 1232

Merit: 1091

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

full member

Activity: 266

Merit: 222

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

legendary

Activity: 2170

Merit: 1427

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

member

Activity: 90

Merit: 11

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

sr. member

Activity: 1666

Merit: 276

Vave.com - Crypto Casino

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

newbie

Activity: 115

Merit: 0

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

full member

Activity: 294

Merit: 100

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

The_Real_Punisher

newbie

Activity: 12

Merit: 0

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

exstasie

legendary

Activity: 1806

Merit: 1521

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

full member

Activity: 214

Merit: 100

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

ahmadakbari

full member

Activity: 602

Merit: 116

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

newbie

Activity: 4

Merit: 0

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

full member

Activity: 252

Merit: 103

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

hero member

Activity: 686

Merit: 502

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

full member

Activity: 266

Merit: 222

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

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

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

hero member

Activity: 1106

Merit: 501

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

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

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

member

Activity: 140

Merit: 13

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

YuginKadoya

legendary

Activity: 3038

Merit: 1169

In my opinion it is just a correction that is happening right now, and in my opinion it is not a crash like the rest of the FUD that are up in the forum, or the wanna cry Ransomware that is spreading across the North Korea right now it is possible, And other than this I can no think of a good reason why bitcoin price slump down right now.

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

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.

But it seems like the price is going up now, it's +18k already on GDAX, so i think we're back on track.

fabiorem

sr. member

Activity: 1400

Merit: 347

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.

Watari

member

Activity: 62

Merit: 10

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.

AICoin_Official

member

Activity: 154

Merit: 11

AICoin-Leader of Global Cryptocurrency Tickers APP

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

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