Why is Bitcoin price tanking down? There seems to be no respite in the pricing? - page 2.

jtipt

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Quote from: magneto on March 08, 2018, 02:06:59 AM

Quote from: suzane18 on March 07, 2018, 11:08:44 PM

Is it due to new SEC Rules passed for Excahnges or are there other reasons attached to this fall?
Any idea when should one start investing more and when can we see an upward spike?

So apparently there was this issue with phishing on binance which caused people to sell or buy tokens that they would not otherwise have bought voluntarily. And that caused a panic on the markets because people suspected that binance was compromised at that point.

Why aren't people over that yet? It was some trading bot AFAIK which caused that and since then binance reversed the trades and are saying that other than api key nothing is compromised. Seriously can one mishap of one exchange cause this level of dip in bitcoin?

Kuschelweich

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Quote from: suzane18 on March 07, 2018, 11:08:44 PM

Any idea when should one start investing more and when can we see an upward spike?

Pretty much everyone is wondering this and it's a very difficult question since there's nothing much to base what the bottom will be like an oversold RSI indicator for a stock before the recovery(If there is one), so it's pretty much anyone's guess.

About a month ago it was down to almost 7k before rising again, so that might be a good place to make a speculative investment, but I've never been great with catching the falling knife Undecided

Opekin

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Quote from: suzane18 on March 07, 2018, 11:08:44 PM

Is it due to new SEC Rules passed for Excahnges or are there other reasons attached to this fall?
Any idea when should one start investing more and when can we see an upward spike?

Its one and another that i read is the MTgox sells bitcoin. The last one that has a big impact to readers is the binance issue report that the API was been hacked. After all this it is remains not a problem as binance has a quick response that it was not been hacked.

Xardasim

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I think the only reason for dump is panic sales. The lies that have been spoken in the last 2-3 days may have caused this. Most people believe in these lies and sell whereas they have to save their money. And after the sale, the price of Bitcoin and all its altcoins goes down.

DeathAngel

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I’m getting annoyed with this crap now, I’m not going to lie. I fear we could have a long bear market ahead.

Bardman

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Quote from: Kemarit on March 08, 2018, 01:11:12 AM

Quote from: suzane18 on March 07, 2018, 11:08:44 PM

Is it due to new SEC Rules passed for Excahnges or are there other reasons attached to this fall?
Any idea when should one start investing more and when can we see an upward spike?

Haven't you heard about the Binance supposedly hack?

https://cointelegraph.com/news/binance-reverses-irregular-trades-resumes-trading-amidst-community-confusion-about-hack

And then this:

https://mashable.com/2018/03/07/bitcoin-sec-statement-potential-illegality-binance-hack/

Followed by a big whale in Japan dumping his bitcoin. Bitcoin’s Tokyo Whale Sold $400 Million and He’s Not Done Yet

https://www.bloomberg.com/crypto

As far as investing, then this is the right time. Why? Bitcoin is cheap, you can buy more and accumulate it overtime. That's how successful traders do. Buy cheap and sell high. And then waited it out. It will eventually bounce back. But we don't know when. No one can predict the price movement. You need patience and mental toughness to not panic in this time of crisis.

Well, maybe it doesn't bounce back, as you said, no one knows. Buying the dip sounds like a great idea in theory but in practice is really not, unless you have a ton of money to keep buying all the dips. Then again you don't even know if it's ever going to recover anyways and I'm not talking about the whole market, bitcoin could eventually fail and some other coin could take its place.

sjefdeklerk

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Quote from: cellard on March 08, 2018, 02:13:57 PM

1) Noobs go to bitcoinwisdom
2) Noobs see big candle starting because of the dumping of Goxcoins
3) Noobs panic and google "Bitcoin news"
4) Noobs see the SEC news, see the Binance hack news, see the MtGox news... the spiral to FUDland begins and it's just a domino effect of selling

And 5) Noobs sell their whole position (being 0.002 BTC). Come on Noobs dont make the market. Big money makes the market.

crzy

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A lot happenings around the world and the result is negative for bitcoin. I think this is just a short term fall so for me you’d better grab the opportunity now to make more money by buying more bitcoin at a cheap price, and don’t ever panic, just enjoy the market and have patience.

JohnTask

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Quote from: cellard on March 08, 2018, 02:13:57 PM

the only reason we didn't keep growing was thanks to the stupid person in charge of the Goxcoins sold it on Kraken instead of OTC as anyone that isn't a complete clueless idiot or someone that doesn't want to damage the market price would do (and I think this was a plan to do just that).

I've been wondering about this as well. It's like he is doing it on purpose. Jesse Powell recommended him to do otherwise, and yet he is dumping them on the market.

cellard

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Too many factors have coincided (keyword: "coincided") with very, very FUDdish news, which have been the catalyst of the fire ignited by the complete moron doing the Goxed coins to pay creditors.

So what happened is:

1) Noobs go to bitcoinwisdom
2) Noobs see big candle starting because of the dumping of Goxcoins
3) Noobs panic and google "Bitcoin news"
4) Noobs see the SEC news, see the Binance hack news, see the MtGox news... the spiral to FUDland begins and it's just a domino effect of selling

Once we are past all the noobs selling and all the Goxcoins sold, we will go back to 20k+ because as we've seen, the only reason we didn't keep growing was thanks to the stupid person in charge of the Goxcoins sold it on Kraken instead of OTC as anyone that isn't a complete clueless idiot or someone that doesn't want to damage the market price would do (and I think this was a plan to do just that).

magneto

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Quote from: suzane18 on March 07, 2018, 11:08:44 PM

Is it due to new SEC Rules passed for Excahnges or are there other reasons attached to this fall?
Any idea when should one start investing more and when can we see an upward spike?

So apparently there was this issue with phishing on binance which caused people to sell or buy tokens that they would not otherwise have bought voluntarily. And that caused a panic on the markets because people suspected that binance was compromised at that point.

SEC also issued warnings about only exchanges that are not being regulated, which affected investor confidence.

I don't see any particularly big problems with both of these pieces of news, but investors usually will overreact when news regarding the regulation of bitcoin or any major trading platforms come out. And that is why prices are tanking at the moment.

Expect a further dip to around $9500 before a swift recovery, buying now is a good idea for either short term or long term investment.

jitenrajput

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Well, since the launch of bitcoin, its price has seen many ups and downs. At the initial phase, many people did not believe in the concept of bitcoin and have regretted. The ones who invested at the early stage have become millionaires as the prices reached around $1,000 per BTC. I agree that the price has decreased since its all-time high value in December 2017, but that is its volatile nature. There are predictions by technocrats that the bitcoin price will hit $40,000 by the end of 2018.

Herbert2020

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you don't need a reason for price fluctuations. it is the same thing that has happened twice before, nothing has changed about that yet. price goes up to test the resistance and if it breaks it, we will see a breakout and if it can't there will be a drop where traders sell their coins to get the profit out and get ready for the next round of testing the resistance once again.

Kemarit

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Quote from: suzane18 on March 07, 2018, 11:08:44 PM

Is it due to new SEC Rules passed for Excahnges or are there other reasons attached to this fall?
Any idea when should one start investing more and when can we see an upward spike?

Haven't you heard about the Binance supposedly hack?

https://cointelegraph.com/news/binance-reverses-irregular-trades-resumes-trading-amidst-community-confusion-about-hack

And then this:

https://mashable.com/2018/03/07/bitcoin-sec-statement-potential-illegality-binance-hack/

Followed by a big whale in Japan dumping his bitcoin. Bitcoin’s Tokyo Whale Sold $400 Million and He’s Not Done Yet

https://www.bloomberg.com/crypto

As far as investing, then this is the right time. Why? Bitcoin is cheap, you can buy more and accumulate it overtime. That's how successful traders do. Buy cheap and sell high. And then waited it out. It will eventually bounce back. But we don't know when. No one can predict the price movement. You need patience and mental toughness to not panic in this time of crisis.

suzane18

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Activity: 85

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Is it due to new SEC Rules passed for Excahnges or are there other reasons attached to this fall?
Any idea when should one start investing more and when can we see an upward spike?

Topic: Why is Bitcoin price tanking down? There seems to be no respite in the pricing? - page 2. (Read 419 times)