Why the drop? | Bitcointalksearch.org

filharvey

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Quote from: AngelSky on November 19, 2017, 10:53:30 AM

Quote from: sukamasoto on November 19, 2017, 10:46:44 AM

IMO there are some group whale trader may take advantage to bluffing especially when bitcoin reach fork for example.
Or for reasonable reason , maybe like China decide to ban bitcoin also affect bitcoin globally but as long as you believe bitcoin, no need to do panic sell, Just hold it !

Since this thread is open in the last week to know about the dump happend because of the hard fork and segwit2x. I see many people are saying that bitcoin dumping is the reason. If the regular people hold the bitcoin we will find the demand in the market about bitcoin. Henceforth, its value will increase enormously to sky rocket.
I do not know why mentioned Chinese BTC and ICO ban and all because that is happened more than a 50 days ago. You simply saying a dead news.

Yes,the segwit 2x cancellation and the sudden pump of BCH price followed by miners switching to BCH were the main reasons for price drop of bitcoin.It was really a masterplan carried by BCH group and miners at the same time which led to thousands of transactions stuck due to switching of miners to BCH.BCH was pumped so high that even the firm believers of bitcoin were shocked due to BCH increasing price.At last every thing got settled and BTC regained its value.

AngelSky

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Quote from: sukamasoto on November 19, 2017, 10:46:44 AM

IMO there are some group whale trader may take advantage to bluffing especially when bitcoin reach fork for example.
Or for reasonable reason , maybe like China decide to ban bitcoin also affect bitcoin globally but as long as you believe bitcoin, no need to do panic sell, Just hold it !

Since this thread is open in the last week to know about the dump happend because of the hard fork and segwit2x. I see many people are saying that bitcoin dumping is the reason. If the regular people hold the bitcoin we will find the demand in the market about bitcoin. Henceforth, its value will increase enormously to sky rocket.
I do not know why mentioned Chinese BTC and ICO ban and all because that is happend more than a 50 days ago. You simply saying a dead news.

sukamasoto

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Black Panther

IMO there are some group whale trader may take advantage to bluffing especially when bitcoin reach fork for example.
Or for reasonable reason , maybe like China decide to ban bitcoin also affect bitcoin globally but as long as you believe bitcoin, no need to do panic sell, Just hold it !

ImHash

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Quote from: leex1528 on November 14, 2017, 02:51:27 PM

Quote from: KylesmomisaB on November 14, 2017, 02:33:37 PM

Quote from: leex1528 on November 14, 2017, 01:56:07 PM

Probably very similar to what happened a few years ago. Bitcoin went way up and super fast, and then it slowly corrected itself. This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin. What happens next who knows.

Well some do know particularly those who are manipulating bitcoin prices but I digress. I doubt it will reach 3-4k a coin because that seems a bit low but I would not be surprised if bitcoin reached close to ~5k again.

Just looking at Math here. It went from 50 a coin to 1200 a coin back in 2011 or so? Roughy a 2300% increase right? Then it went back down to 200 a coin. Or from the original price it increased roughly 300%

Now it went from 700 a coin to 7,000. Roughly a 900% increase. If it falls back to 3,000 a coin, roughly it will be a 320% increase..

What happens to the people bought when price was $7800 if price drops to $3000 a coin? Roughly they're screwed Cheesy

I think I have it figured out about how this works, They are selling their bitcoins with the highest possible prices and then they would launch hundreds of ICO's to collect them back from noobs. Many are selling high and then they would spread false information to cause panic, Noobs will panic and dump due to uncertainty, Rinse and repeat and if you have billions of dollars you will get rich and richer every day, All of this despite having a limited supply.

MoonJeina

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Quote from: sleep_talker on November 14, 2017, 01:47:55 PM

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

If you are active with the market news then you must know the reason . Bitcoin has been going really high since some days .
To upgrade and stabilize it came the s2x fork which got cancelled afterwards . After the cancellation , many miners and investors showed their interest in bitcoin cash and dumped their bitcoin . That is why bitcoin cash increased overnight and bitcoin's value falled to some extent . But bitcoin is back on the track now.

ajochems

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Quote from: BitMaxz on November 17, 2017, 04:11:51 PM

Quote from: Silberman on November 17, 2017, 02:30:47 PM

Quote from: merchantofzeny on November 14, 2017, 02:25:05 PM

Quote from: leex1528 on November 14, 2017, 01:56:07 PM

Probably very similar to what happened a few years ago. Bitcoin went way up and super fast, and then it slowly corrected itself. This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin. What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.

Unless you are a well connected whale it is going to be impossible when things like this are going to happen, it is my belief that all of this was in fact something that those that were connected knew well in advance it was going to happen, it is not surprise that all of those things happened after the fork got canceled, this was just a way to get rid of their useless bitcoin cash and getting profits at the same time.

I think today the reason is not hard fork cancellation we seen the price increases yesterday and the price was drop today and i think the reason why bitcoin price was drop there are people are satisified what is the present price and sold their bitcoin this is why the price was drop. Since there is no fork coming(segwit2x> they are selling their bitcoin in early stage before the price drop..

Bitcoin is also a goods and the price is change like a assets.For asset the more selling is happening so, the price will start to reduce. Like wise ,if the price reduced means many will start to Buy and the price will again start to raise due to the demand of product .
Same thing happened in bitcoin ,If the reaches 7900$ many start to sell the holding and by that only the price again start to reduce and now it's 7600$.

BitMaxz

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Quote from: Silberman on November 17, 2017, 02:30:47 PM

Quote from: merchantofzeny on November 14, 2017, 02:25:05 PM

Quote from: leex1528 on November 14, 2017, 01:56:07 PM

Probably very similar to what happened a few years ago. Bitcoin went way up and super fast, and then it slowly corrected itself. This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin. What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.

Unless you are a well connected whale it is going to be impossible when things like this are going to happen, it is my belief that all of this was in fact something that those that were connected knew well in advance it was going to happen, it is not surprise that all of those things happened after the fork got canceled, this was just a way to get rid of their useless bitcoin cash and getting profits at the same time.

I think today the reason is not hard fork cancellation we seen the price increases yesterday and the price was drop today and i think the reason why bitcoin price was drop there are people are satisified what is the present price and sold their bitcoin this is why the price was drop. Since there is no fork coming(segwit2x> they are selling their bitcoin in early stage before the price drop..

Drnice

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Quote from: sleep_talker on November 14, 2017, 01:47:55 PM

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

The price of bitcoin always drops from a higher price because it wants to correct it's spark, and when that starts happening, the price becomes settled and gradually increase. So, there should be no panic.

Silberman

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Quote from: merchantofzeny on November 14, 2017, 02:25:05 PM

Quote from: leex1528 on November 14, 2017, 01:56:07 PM

Probably very similar to what happened a few years ago. Bitcoin went way up and super fast, and then it slowly corrected itself. This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin. What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.

Unless you are a well connected whale it is going to be impossible when things like this are going to happen, it is my belief that all of this was in fact something that those that were connected knew well in advance it was going to happen, it is not surprise that all of those things happened after the fork got canceled, this was just a way to get rid of their useless bitcoin cash and getting profits at the same time.

pinoyden

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Quote from: sleep_talker on November 14, 2017, 01:47:55 PM

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

that is because bitcoin is a bubble and it pops immediately resulting for the price to drop unexpectedly after having a full pump at its peak though its only temporary because bitcoin always recover and will start to increase again. and also price drop is actually normal it also happened to some other coins not just on bitcoins,

steveabrahams

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Quote from: sleep_talker on November 14, 2017, 01:47:55 PM

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

1. Segwit2x cancelled/suspended, that makes the price of bitcoin falling so hard.
2. Miners start support bitcoin cash and bitcoin cash price increase so hard too.
3. So many unconfirmed transaction on blockchain.
4. Some "whales" dump and pump their bitcoin and bitcoin cash.

But all thing is good right now, the price of bitcoin going up again right now.

MiningSensei

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It has been rising a lot yesterday, from less than $6600 to more than $7400 in a few hours before the day was ended, now it is closing up at $7,2k each bitcoin but it is still a nice price.
We can now say that the whole dump is over now, because we are not saying those shitty dumps anymore, and of course, the whole period of seeing those dumbs of bitcoin cash is now over, because bcash could not stop dropping.. It is now below $1150 each one of them, this is critical for them of course, but we all knew that they were an useless coin only that it was sooo hyped.

loragean03

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Quote from: sleep_talker on November 14, 2017, 01:47:55 PM

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

its because more bitcoin holders are dumping their btc and switching to the other altcoins just to earn profits in a short period of time, or maybe btc whales are withdrawing their funds in btc to be exchange into fiat money, there are so many reasons why bitcoin price falls but the main stream is, even theres a dip don't lose faith in bitcoin, because after the dip theres a pump and that's a normal scene you can see in bitcoin.

Guzztsar

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Quote from: player514 on November 14, 2017, 02:53:58 PM

Quote from: fabiorem on November 14, 2017, 02:45:36 PM

Quote from: Guzztsar on November 14, 2017, 02:31:53 PM

Bitcoin Cash and chinese miners.
A lot of people panicked due these rumors about BCH replace bitcoin.

Nah, it was just Ver and his whales dumping the coins at cheap price.

Yeah, I agree with this one. He pumped up the price so much and everyone followed. They all pushed their money into BCH, BCH hits like 1,900. Now, it's just down at 1300 after a significant drop after the dump. I don't know why people get so scared about bitcoin. I understand the volatility and whatnot makes people uncertain, but they should really look into long term instead of shorting and short term investments....

Sure, i agree with you guys. but we can't deny that fear was spread.
BCH with higher hashpower, and those huge amount of unconfirmed (legit or not) transactions was scary, without doubt this helped the BTC dump gain strength

Washball

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Bitcoin dropped, but will soon go up again. It dropped because traders were counting on the fork to get free money. Once the cancellation was announced, they dumped Bitcoin for Bitcoin cash and made big profits. Anyway, this is just a temporary attack. Bitcoin has some problems, like transactions taking too long, that should be solved. Then we'll see it going up again.

Alns

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This is because there were a lot of fud over bitcoin and its forked coin; bitcoin cash, everybody knows that and it is weird to know that you were not aware of that. because we all knew about this.
I think that it will start going up soon, but bitcoin has been at a stable price lately, in just 24 hours it increased from 6500 to 6700, it is not a bad price at all.
I am happy with the last results of bitcoin, it is not a cheap rate if we think about it.

Akash1243

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There were many reason for the drop of bitcoins from around $7600 to $6000 as hard fork Segwit2x was been cancelled which would have increased the block size and reduce a bit of hardwork for miners but it being cancelled many miners switched to bitcoin cash as it is easy to minewhich caused the drop.And also that bitcoins has reached very high is very short span of time so it after the correction it was obvious that price would drop.But now bitcoin is recovering it has almost reached $6600.

Silberman

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Quote from: sleep_talker on November 14, 2017, 01:47:55 PM

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

I do not know what it is difficult to understand, bitcoin cannot go up indefinitely after reaching such a high price it needed a correction, there are many reasons why that happened but it was going to happen one way or another, the most important thing is the price seems to have reached a floor and the floor is quite high so most of us should be in profit.

player514

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Quote from: fabiorem on November 14, 2017, 02:45:36 PM

Quote from: Guzztsar on November 14, 2017, 02:31:53 PM

Bitcoin Cash and chinese miners.
A lot of people panicked due these rumors about BCH replace bitcoin.

Nah, it was just Ver and his whales dumping the coins at cheap price.

Yeah, I agree with this one. He pumped up the price so much and everyone followed. They all pushed their money into BCH, BCH hits like 1,900. Now, it's just down at 1300 after a significant drop after the dump. I don't know why people get so scared about bitcoin. I understand the volatility and whatnot makes people uncertain, but they should really look into long term instead of shorting and short term investments....

leex1528

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Quote from: KylesmomisaB on November 14, 2017, 02:33:37 PM

Quote from: leex1528 on November 14, 2017, 01:56:07 PM

Probably very similar to what happened a few years ago. Bitcoin went way up and super fast, and then it slowly corrected itself. This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin. What happens next who knows.

Well some do know particularly those who are manipulating bitcoin prices but I digress. I doubt it will reach 3-4k a coin because that seems a bit low but I would not be surprised if bitcoin reached close to ~5k again.

Just looking at Math here. It went from 50 a coin to 1200 a coin back in 2011 or so? Roughy a 2300% increase right? Then it went back down to 200 a coin. Or from the original price it increased roughly 300%

Now it went from 700 a coin to 7,000. Roughly a 900% increase. If it falls back to 3,000 a coin, roughly it will be a 320% increase..

Topic: Why the drop? (Read 707 times)