What is happening right now? (2018/10/15) - page 2.

Kakmakr

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Here is my take on this :

~ The stock exchanges are taking a beating and investors are looking for safe havens and Bitcoin is seen as a safe haven.
~ The Fidelity announcement was positive news.
~ We are getting closer to the Bakkt cryptocurrency platform's launch.

All of this is causing some volatility in the market and it is going to become worst as we get closer to the Bakkt launch. Institutional capital is going to boost the price a lot, so people are getting ready for that. Wink

keanne_isaac

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Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

What happen yesterday was a quick pump? not only for bitcoin but for other major altcoins also and they suddenly back to their normal price after a sudden pump but one i have notice XRP are slowly moving up even the price of bitcoin are not moving up this is a good indication that xrp may surge soon specially when BTC goes up again

Herbert2020

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Quote from: Getcoinsite on October 16, 2018, 11:54:18 PM

Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Lol thats not happening in USD value,try to check coinmarketcap tthe more reliable about prices

And dont expect that $8,000 value this year because its more than impossible to happen,we will be engaging in this kind of bear for another couple of years so be aware and keep that in mind

actually coinmarketcap.com is the least reliable source for checking prices if you want accuracy and more importantly at times like this when the market is in chaos mode and prices are all over the place just because they use Tether to report USD value of coins!
sites like bitcoinwisdom or better yet the exchanges themselves are more reliable.

as for the $8000, you don't know that for certain. it may or may not happen. but one thing is for sure he downside is not going to last long so don't wait for years Wink

Getcoinsite

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Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Lol thats not happening in USD value,try to check coinmarketcap tthe more reliable about prices

And dont expect that $8,000 value this year because its more than impossible to happen,we will be engaging in this kind of bear for another couple of years so be aware and keep that in mind

steampunkz

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Quote from: posi on October 15, 2018, 08:02:27 AM

Quote from: talkbitcoin on October 15, 2018, 03:51:31 AM

Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

OMG, did you people start using bitcoin yesterday?
bitcoin price is the same as it was ever. and a rise is not a pump. right now you are looking at the price of bitcoin versus an altcoin and think that price is the value of bitcoin! that altcoin is called Tether not USD Cheesy

check out Coinbase, Kraken, and other exchanges that are actually trading bitcoin with fiat. you can also check out exchanges that have other fiats such as Euro, CNY, JPY, ... they are all the same.

it is just that one altcoin (tether) that is falling in price.

I think the was marvel and he expect the price of bitcoin to continue to surge after gaining some slightly increase in price today. Concerning the USDT issues I think don't have much community support as before and I believe TUSD was the reign champion in the stable coin market this days.

Dont forget there also other who are gaining popularity right its Gemini USD many inventors are now joining in because of the security and insurance that the company promise for holders and investors like fixed price of the coin to all other cryptos.

Larssoneos02

newbie

Activity: 27

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Considering the volatile nature and the present condition of the market, it is safe to say that the sudden bump in the price of Bitcoin is nothing unnatural. This kind of bump is normal in the market and there is nothing to panic about.

HeRetiK

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Quote from: ophyrim on October 15, 2018, 05:18:02 AM

Quote from: HeRetiK on October 15, 2018, 05:05:36 AM

Seems like people are fleeing from USDT and are thus moving into BTC and some of the alts in case USDT turns out to be insolvent.

Not sure why everone is fleeing USDT right now however.

The price of tether was dropping since few days and today there was a rumor that Binance will delist tether. But this news was not accepted by Binance CEO.
https://twitter.com/cz_binance

That makes sense. I wasn't aware of these rumors so I wonder how big the impact really was. However I've never used Binance so maybe the rumours were bigger "news" than what I perceived (or rather: failed to perceive).

Quote from: jseverson on October 15, 2018, 06:16:43 AM

Quote from: HeRetiK on October 15, 2018, 05:05:36 AM

Not sure why everone is fleeing USDT right now however.

It doesn't look like it's fully backed anymore. It's trading at $0.96 a piece at the moment, according to CoinMarketCap.

I assumed that it's down at 0.96 USD because people are fleeing, but now that you mention it Tether should have been able to prop the price up regardless. Hoh boy.

Btw has anyone else noticed how USDC is trading at more than 8% above face value right now? Seems like the battle of the USD-backed stablecoins has begun.

posi

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Quote from: talkbitcoin on October 15, 2018, 03:51:31 AM

Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

OMG, did you people start using bitcoin yesterday?
bitcoin price is the same as it was ever. and a rise is not a pump. right now you are looking at the price of bitcoin versus an altcoin and think that price is the value of bitcoin! that altcoin is called Tether not USD Cheesy

check out Coinbase, Kraken, and other exchanges that are actually trading bitcoin with fiat. you can also check out exchanges that have other fiats such as Euro, CNY, JPY, ... they are all the same.

it is just that one altcoin (tether) that is falling in price.

I think the was marvel and he expect the price of bitcoin to continue to surge after gaining some slightly increase in price today. Concerning the USDT issues I think don't have much community support as before and I believe TUSD was the reign champion in the stable coin market this days.

ambisyon

jr. member

Activity: 322

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I think what happens right now in the crypto market may seem to be a start of the bullish market for btc and not able to get a big impact for the alts. Let's wait and see in the coming days if market will continue to grow further and in the event it will, I believe that it may be a repeat history the same as what happened last year. Consequently, people should be observant in the market and most probably they should have to hold further on their crypto coins as this may give the people a good return of investment.

antisocial77

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market crushed many times with lies, so actually i dont care about the tether,usdt etc..we needed a fomo and it happened, i hope it will continue.

vixcious

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Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Tether has been reported as one of the largest fraud scams in the world and that has caused many traders to sell USDT at low prices and now the value of USDT is only $ 0.96. . That was a bad thing and that made Bitcoin's price higher than ever. More traders bought Bitcoin and that made the price of Bitcoin strong.

Marcel555

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Activity: 252

Merit: 4

Tether users were spooked panic as the price dropped below one USD, and this caused a massive influx to bitcoin as they dumped their USDT.

Stable coins has never been a sustainable model in my opinion.
The present situation is not good news for BTC, just bad news for USDT

Ava Duvall

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Quote from: lisanpykek on October 15, 2018, 06:07:58 AM

I think that people were confused when Bitcoin suddenly rose dramatically. I have watched the market. I think some groups have been spreading the news that Binance will delist Tether off their floor. But now it seems the market has stabilized in part.

Not all were confused- newbies mostly. its not great news that the market stabilized but it's good enough for the moment

jseverson

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Quote from: HeRetiK on October 15, 2018, 05:05:36 AM

Not sure why everone is fleeing USDT right now however.

It doesn't look like it's fully backed anymore. It's trading at $0.96 a piece at the moment, according to CoinMarketCap.

Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Bitcoin is probably being used to turn USDT into actual USD in the absence of USDT-USD pairs. (USDT -> BTC -> USD)
If this Tether slide continues, Bitcoin is probably going to be even more volatile.

Twentyonepaylots

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Quote from: tomahawk9 on October 15, 2018, 05:49:47 AM

Quote from: funchiestz on October 15, 2018, 03:49:35 AM

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Either some people are trying to trigger another BTC rally or it is related with the massive dump in Tether earlier. Either way, some people definitely took some profits from the pump as there was a sell-off in btc. Now let's see if we can consolidate around the current levels (6900), since we went past the last resistance level (high 6.7k), it'll be great if we can stay at these levels for some time.

Quote from: HeRetiK on October 15, 2018, 05:05:36 AM

Not sure why everone is fleeing USDT right now however.

Timing is weird, perhaps there's some insider information going around which scared some people off (?).

One understand that the market is Volatile, anything can happen at any given time, its a market testing on 7k plus price value of Bitcoin on the market, and it drop again, if this is really market rally we can expect that the price value of Bitcoin will goes up on and remain up stream, But i am optimistic, once it break the resistance on the market it will be a all up stream trend on Crypto Trading. Let's wait and monitor the market behavior.

Manuel05

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Oh well I think its just normal pump and dump, in the market. I Dont think its related to anything though the market (bitcoin)/have been stable for a while now so it's about time an increase or decrease happen.

The benefit of such news is that, the fuss will spike new investors and to buy back into the market.

lisanpykek

newbie

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I think that people were confused when Bitcoin suddenly rose dramatically. I have watched the market. I think some groups have been spreading the news that Binance will delist Tether off their floor. But now it seems the market has stabilized in part.

TheBeardedBaby

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₿uy / $ell ..oeleo ;(

This is just a normal movement up as the market was quite stable in September.
This should be the response of the price drop from the 10-11th October.

Looking at the 1 month graph from coindesk :

Don't forget that on 4th of September the price was over 7300$.

tomahawk9

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Either some people are trying to trigger another BTC rally or it is related with the massive dump in Tether earlier. Either way, some people definitely took some profits from the pump as there was a sell-off in btc. Now let's see if we can consolidate around the current levels (6900), since we went past the last resistance level (high 6.7k), it'll be great if we can stay at these levels for some time.

Quote from: HeRetiK on October 15, 2018, 05:05:36 AM

Not sure why everone is fleeing USDT right now however.

Timing is weird, perhaps there's some insider information going around which scared some people off (?).

DipDare11

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I think that this is another move on the part of the whales, in order to get even more profit than usual)) Usually this happens))

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