what happened for the market? | Bitcointalksearch.org

peter0425

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Quote from: DustyRah on May 27, 2017, 09:08:41 AM

Profit taking! If you made 30% on your investment and that was your goal, you would sell and take that 30%. Its common sense and people are selling now to lock in the profits.

This was a very pleasant ride though, very very nice!

Yes. 30% ROI would be nice indeed. But I speculate that more investors sell to get less than that. But as others have said, profit is still a profit. Now the ride has just starting again because bitcoin price is going up again. We may see another correction at around mid June to July but I hope bitcoin price is $3000 then.

DustyRah

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Profit taking! If you made 30% on your investment and that was your goal, you would sell and take that 30%. Its common sense and people are selling now to lock in the profits.

This was a very pleasant ride though, very very nice!

FLoving

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I think some of the investors who have kept their target to sell at that price but we are lucky that most of the users are not just the investors as most of the users are the real users of bitcoin and because of them the base of bitcoin is very much stronger and the price will not fall too much but within a week I am sure that the price will once again started to increase and then again the investors will start to invest.

coolsai

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Happens every few months then eventually recovers, this time though the pump was very short lived so I expect the dump to be short lived too.

equator

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I think first of all the big whales have started to take profit and seeing the fall panic sellers have made more downfall in btc price and this is the best time to buy as the next move will be $5000 target within 30 days as last time it went 2k + move in 30 days

pizamoi

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It happens every so often, people panic after a big push upwards and the same graph circulates every time. The point being we could see further falls before seeing it go up again but everyone expects it go to up in the long term.

Paya

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Quote from: wendelllee on May 27, 2017, 06:23:54 AM

This is the situation similar with 2013. Isn't it?
But no bad news observed. It's hard to understand.

There were no particularly good news either, at least not so good to justify the rally we've seen. It was a classic speculative bubble, albeit it lasted longer than I was expecting, most likely due to all major altcoins which also entered their own bubbles.

Btw this fall will go deeper, people. Truth is that bitcoin simply is not worth 2500+ at this point. I am not going to even think about rebuying until low 1000s. If it never goes that deep, oh well. I cashed out majority of my 6+ years held btcs in the past week and to be honest, I am VERY happy. Holding does pay off in the long run.

wendelllee

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DeepOnion

This is the situation similar with 2013. Isn't it?
But no bad news observed. It's hard to understand.

N7Pathfinder

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I think there is a game going on here! Everyone is so confident it will go up again like they know what will happen regardless of market demand. How can a currency drop so much without any negative news? How can so much people decide to sell at the same time all together and crash the market anytime they fancy? How can market demand drops so much overnight without any good reason? How can we have any confidence in this system anymore!

severaldetails

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Basically I do not see much of a problem.
Right now we are at a level where we were about two weeks ago.
And if you look four weeks in the past, nearly nobody could have imagined that we would be at about 1800$ right now.
The spike in between was just madness.

wendelllee

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DeepOnion

Quote from: YuginKadoya on May 27, 2017, 03:16:22 AM

Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Is this the first time you ever seen bitcoin move like this? this may happen more often if the price rose up significantly high then people would be emotionally decide that they have lost money because the value drop that is why out of fear they are selling or converting their bitcoin so they would gain from it, I say we should be calm and I think you should stay calm too because bitcoin is still way more up that the usual price it had back on march since we had reach the $2000 mark value.

I had experience for the crash in 2013. Just worry that it will happen again.

zoolander

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Quote from: krishnapramod on May 27, 2017, 12:09:57 AM

Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Found this on Reddit, not saying bitcoin is dead or going to die or destroyed or would it survive etc etc. If you observe BTC charts, it follows a pattern and almost everytime this pattern keeps repeating. There is nothing to panic about it, this is is how the BTC market works.

Ye olde bubble cycle pic rears its head once more. Cheesy

If I had a bitcoin for every time this has been posted on Bitcointalk I'd be very rich indeed. Almost a confirmation of the current bubble popping. (Edit: someone beat me too it)

FYI: IMO we are heading to "Return to normal" and Bull Trap in case you are wondering. (For this particular bubble).

YuginKadoya

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Is this the first time you ever seen bitcoin move like this? this may happen more often if the price rose up significantly high then people would be emotionally decide that they have lost money because the value drop that is why out of fear they are selling or converting their bitcoin so they would gain from it, I say we should be calm and I think you should stay calm too because bitcoin is still way more up that the usual price it had back on march since we had reach the $2000 mark value.

wendelllee

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DeepOnion

It seems that the price is climbing up.

joshy23

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Its unavoidable. Maybe there is a reason that investors dump bitcoins last couple of days. Maybe they just want to earn money go on vacation, want to gamble with bitcoin etc.. we can only speculate. The price has corrected itself and we may see a new wave of cash coming into the bitcoin ecosystem again that will push the price further that we expected.

Slow death

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Quote from: iqlimasyadiqa on May 27, 2017, 01:12:21 AM

Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Until now I have not received any negative news about bitcoin. When more and more countries are recognizing and starting to receive bitcoin. Japan, south korea, russia and india should be able to keep bitcoin prices stable.

I hope they can keep the price stable.

Quote from: iqlimasyadiqa on May 27, 2017, 01:12:21 AM

This is a nightmare that should not happen.

This is a real nightmare.

Quote from: iqlimasyadiqa on May 27, 2017, 01:12:21 AM

I feel sorry not to sell bitcoin when the price reaches 2800USD. This is an irreplaceable remorse.

Everyone rushed to sell when it reached $2700, when the price reached $2600 in poloniex had 53,000 people online and now that the price is less than $2000 we have less than 35,000 people online.

ustradebitcoin

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I will buy your altcoin leave me a msg .

Coinbase had many problems this week, and most investors withdraw their money.
i keep my bitcoin since November 2016 i never withdraw my bitcoin.
i think everything will be back soon like always

ridery99

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It's summer time and investors took profits and are going to vacation, like every year.

coynedterm

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

I think yes , this is the policy .
A news is now running in the internet that the government of India and RBI will take legal action against the zebpay and will see all the details of the transaction for every transaction to bank .
Because currently the ransomeware topic made the Bitcoin famouse but the countries who were not active to make action against it , now became active and want to control the use of the Bitcoin that results into the down of the demand and also down in the price accordingly .
Well here no one can control use of Bitcoin , so here a good thing is that we will still use Bitcoin for the profit and will not exit the Bitcoin job .
Here the Japan already declare the Bitcoin legal , then probably it may be possible that with the taxes other countries will declare it as legal.way of the payment .

peter0425

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There was one market analyst saying that the price of bitcoin will crash and coincidentally, the dumping started. So I guess, it is one of the factors that started this massive dump. However, this is part of bitcoin market, its unstable price, so its up to us to either follow the dumping or hold on our bitcoin because you see that the price can still recover and rise even more. It's up to you to make your better judgement.

Pursuer

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Where is my ring of blades...

Quote from: Rahar02 on May 27, 2017, 01:24:15 AM

Quote from: krishnapramod on May 27, 2017, 12:09:57 AM

Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

[I m g]https://i.redd.it/vwqxgf7xnvzy.jpg[/img]

Found this on Reddit, not saying bitcoin is dead or going to die or destroyed or would it survive etc etc. If you observe BTC charts, it follows a pattern and almost everytime this pattern keeps repeating. There is nothing to panic about it, this is is how the BTC market works.

Quote for reference.
Nice charts to compared and that's true, represent what happens today.
People always looking for easy money, so they buy at lower price and wait for higher peak to cash out, this is the outcome ; bitcoin price drop back like crazy like $800 and furthermore maybe decline for another $1500.
There are some people who regret didn't sell for sure but no need to worry as bitcoin will recover again and reach more than $2500 next month.

if only I could get 1 satoshi each time someone posts that picture I would have been 2 in a million already

take a look at these quick and dirty screenshots I took today: https://bitcointalksearch.org/topic/bitcoin-charts-deja-vu-1935374
each of these rises are exactly the same as the current rise and each time we had the same thing where there is a big panic and they start panic selling to cause the dump and each time it is only because it is easy to manipulate bitcoin market since it is small to get your hands on cheap coins otherwise impossible to acquire.

sunsilk

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

It just a correction but you don't have to worry about it, expect $3k - $6k will happen for next year.

You can read some good news here - http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Normal price increase has a tail of dumping and so this is happening.

TrumpD

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What do all the people still pumping Bitcoin have in common? They all own lots of Bitcoin, and they need more people to buy so they can unload their Bitcoin onto them at higher and higher prices. Unfortunately some of us have to be bag holders for others, It is unreasonable to expect the price to sky rocket, and continue it's upward trajectory without suffering corrections every now and then.

Rahar02

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Quote from: krishnapramod on May 27, 2017, 12:09:57 AM

Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Found this on Reddit, not saying bitcoin is dead or going to die or destroyed or would it survive etc etc. If you observe BTC charts, it follows a pattern and almost everytime this pattern keeps repeating. There is nothing to panic about it, this is is how the BTC market works.

Quote for reference.
Nice charts to compared and that's true, represent what happens today.
People always looking for easy money, so they buy at lower price and wait for higher peak to cash out, this is the outcome ; bitcoin price drop back like crazy like $800 and furthermore maybe decline for another $1500.
There are some people who regret didn't sell for sure but no need to worry as bitcoin will recover again and reach more than $2500 next month.

Herbert2020

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this is the same story that we get all over again after each rise like this, when the rises are big a lot of people buy in and most of them are new to this are are afraid, specially with a lot of FUD in the market they easily panic and start dumping their coins, the experienced traders sold yesterday when price was still high and the first panic sells started, now we are all waiting for these newbies to be shaken out completely and then we are going to buy back all their coins to add to our big stash and make it bigger.

iqlimasyadiqa

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Until now I have not received any negative news about bitcoin. When more and more countries are recognizing and starting to receive bitcoin. Japan, south korea, russia and india should be able to keep bitcoin prices stable. This is a nightmare that should not happen. I feel sorry not to sell bitcoin when the price reaches 2800USD. This is an irreplaceable remorse.

posternat

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Quote from: lemipawa on May 27, 2017, 12:10:46 AM

I see three reasons why its going down but its just my opinion and its something that traders should take with a grain of salt. One is due to market correction, it was published yesterday that the sudden drop of BTC price is due to market correction, two is weekends or others call it a weak end where traders slows down in trading BTC, third is panic selling, if those with faint heart dont stop selling fearing that there will be in incoming crash, youll see the price continue to drop further. Again, just my opinion.

A lot of things contribute to the price drop of bitcoins and one of the major is panic selling. No Currency can always keep on going on one directions and there has to be up and downs for it. Since bitcoin was just keep on moving upwards for a month or so, a little downward trend created a lot of panic and everyone want to sell to get the benefit of high price of bitcoin. Anyways this is also good for bitcoin ans more strong hands will buy bitcoins and next time we shall cross 3000$ with ease.

Capradina

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I think it all happened, because the waves for a demo is over. And there are likely to increase in the next year, because the bitcoin is a digital currency. Where now have high prices, certainly later will also have low prices. And last I read, there was news that a wave of rising bitcoin will run again in the next year. Where now it's time to experience a decline in prices of up to $1000. so prepare yourself to wait for huge profits in the next year and prepare yourself

Amph

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we are definitely between denial and delusional in that chart, this pump was going to happen at some point, and it happened now because above $2k the value increase too fast

i still don't care about this swings, the price will recover in the end, it was always the case in the past, still we are with a very high value compared to what we had before

people are really greedy i remember when they were aiming at $2k, and now that we went above they want to be already at a stable value way above $2k...

BitcoinBarrel

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Fill Your Barrel with Bitcoins!

If there's anything any of us have learned over the years it's HODL.

People get greedy and want to take small profits, but is it worth the risk for a measly 10-20%? Heck the trading fees eat into most of it.

NaXxow

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It is expected to have this kind of ups and downs, but having massive pump or dump overnight gives people or investors to be on panic mode. This is the current situation of crypto currency trading, expect the unexpected everyday.

barabbas

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Quote from: BitcoinBarrel on May 27, 2017, 12:24:38 AM

Dumb panic sellers

Nope. As you can see right now, there is a whale dumping up to 5 consecutive batches of 64 BTC (that's some real money there) fully manipulating the dump to way under 2210. And he wants to be know he has at least that many to do the manipulating, so he makes it obvious to everyone. He may have, besides those 300+, many hundreds more. And that's just a single one.

It's children with millions of dollars playing games. It will not affect BTC in the long run but, for the time being, these are very dangerous waters for the small guys. Thread with extreme precaution or don't thread at all and don't even look for a few months. Or years. BTC will be quite fine.

And you will not be burned.

And by all means follow the number one rule on investing: Never risk what you cannot afford to lose.

And the second one, even more important: There's always tomorrow. Make sure you'll be equipped to go another round.

hello_good_sir

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

No. It was just a bubble bursting. Any bubble would have to burst sooner or later. And obviously the price was in a bubble state all along. And as far as i know Australia was actually just announcing to legalise bitcoin and get rid of the GST on bitcoin purchases which should have had a positive effect on btc.

It's actually doing quite well though because $2000 was something that i would have never dreamed of even a few weeks ago. And only at the start of this week did we hit $2000, so basically we're still at the price point of the start of the week.

Hopefully people have cashed out a bit of their bitcoins before this crash happened, otherwise it's going to be a pain to hear all the stories that people have just like in 2013 when they bought at the ATH. But for those who did, don't worry because i'm sure that some day in the near future we'll see the price slowly climb up again and you'll have a chance to sell then Wink

BitcoinBarrel

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Fill Your Barrel with Bitcoins!

Dumb panic sellers

lemipawa

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I see three reasons why its going down but its just my opinion and its something that traders should take with a grain of salt. One is due to market correction, it was published yesterday that the sudden drop of BTC price is due to market correction, two is weekends or others call it a weak end where traders slows down in trading BTC, third is panic selling, if those with faint heart dont stop selling fearing that there will be in incoming crash, youll see the price continue to drop further. Again, just my opinion.

krishnapramod

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Found this on Reddit, not saying bitcoin is dead or going to die or destroyed or would it survive etc etc. If you observe BTC charts, it follows a pattern and almost everytime this pattern keeps repeating. There is nothing to panic about it, this is is how the BTC market works.

The One

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Quote from: wendelllee on May 26, 2017, 11:28:03 PM

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Prices always goes up and down, never sideways.

bhabygrim

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Rise up in down depends on the gloabal traders and used of the bitcoin .

you have to check the news as often to know the value of it.

Strictly no policy i think.

vm_mpn

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You must be new to this... Good learning lesson unfolding right in front of you.

wendelllee

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DeepOnion

Why the price going down from 2600$ to 1988$?
Is there any poilcy from state?

Topic: what happened for the market? (Read 2373 times)