Why the huge drop in value - 15% as they say ?

lankyman

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Activity: 382

Merit: 250

Quote from: jona on December 20, 2017, 03:52:48 AM

Quote from: ?? on ??

Quote from: lankyman on December 20, 2017, 12:37:14 AM

Hi, so now what on earth if going on with the price.
Lower than 17k , this is not great. It was killing past 19.500.
Any reason for this?
I would imagine these bitcoin future trading platforms getting involved is one issue.
Maybe im wrong
Love to know what you guys think here this is horrible for bitcoin, i would have thought the 20 barrier would have been broken by now.

A cofounder of BTC said that BTC is useless and that people should invest into BTC Cash
http://www.smh.com.au/business/markets/bitcoin-as-good-as-useless-says-bitcoin-com-co-founder-20171218-p4yxty.html
[/quote
In your own opinion you also think is useless because of the drop of price,these are market strategies to sell BTC Cash

My opinion that trading platforms for bitcoin futures and distraction of the other variants of bitcoin, yah.
Not sure about your wording though.
Anyways, lets hope all coins go up for every benefit.

lankyman

sr. member

Activity: 382

Merit: 250

Lets hope this is , "the" correction and its completed:
https://www.ccn.com/bitcoin-price-dips-below-16400-loses-15-in-major-correction/

jona

member

Activity: 266

Merit: 10

Quote from: ?? on ??

Quote from: lankyman on December 20, 2017, 12:37:14 AM

Hi, so now what on earth if going on with the price.
Lower than 17k , this is not great. It was killing past 19.500.

Any reason for this?

I would imagine these bitcoin future trading platforms getting involved is one issue.
Maybe im wrong

Love to know what you guys think here this is horrible for bitcoin, i would have thought the 20 barrier would have been broken by now.

A cofounder of BTC said that BTC is useless and that people should invest into BTC Cash

http://www.smh.com.au/business/markets/bitcoin-as-good-as-useless-says-bitcoin-com-co-founder-20171218-p4yxty.html
[/quote

In your own opinion you also think is useless because of the drop of price,these are market strategies to sell BTC Cash

dreamer81

sr. member

Activity: 616

Merit: 252

huge? you must be kidding? It's totally normal volatility. Even if it fell 50% that would be normal. A huge drop would be something like 80-90%
so dont run around thinking this is stocks or some other asset like that

bbqnub1

newbie

Activity: 31

Merit: 0

BCH pump definitely is the cause. Also its launch on Coinbase

jamesclark

full member

Activity: 308

Merit: 100

I think this drop in Bitcoin is just temporary and should not be a cause for alarm. It's been rising really rapidly in recent weeks so such a drop is normal given its volatility

teddy5145

hero member

Activity: 714

Merit: 528

It's nearing Christmas, some people wanted to buy gifts for their families and friends and to do so they need fiat.
I personally cashed out some of my BTC too for my Christmas treat Tongue

So you can say, this is some coordinated Bitcoin dump by those who need money in year's end

Also, Coinbase started accepting Bitcoin Cash, this might be one of the reasons why people dumping Bitcoin
https://blog.coinbase.com/buy-sell-send-and-receive-bitcoin-cash-on-coinbase-65f1b2c7214b

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: Fundamentals Of on December 20, 2017, 02:15:05 AM

The previous posts pretty summed up everything there is to this dump in Bitcoin and pump in Bitcoin Cash. Well, the natural reasons would be the new listings of Bitcoin Cash in some not-so-small exchange platforms with a significant amount of trading volume. The other reasons would be that one or two big names within the Bitcoin Cash circle is dumping their huge Bitcoin holdings and used the proceeds to buy Bitcoin Cash. The catch is that the former cannot cause as large a spike in the charts as the one we are seeing right now. The latter could.

More than likely that's what happened. But I believe, BTC price will go back to its increasing trend again.
We've seen this kind of behavior already, remember the China thing - banning ICOs.
And the whales are having their party every time this kind of scenario in crypto trading happens.
You need to be a strong hodler of BTC, else, you will sell also your small amount of btc.

flyx

full member

Activity: 374

Merit: 101

I am a student

BTC is main base of all altcoins , It's like as USD or EUR in money world
but Bcash is only a name for destroying bitcoin .. unfortunately ver and craig have more than 25k btc in their wallets (i heard) and they hate btc and they know theirsef owners of bcash , with such amount of btc , they can do dirty things and move market in their way , I wish i had their priv keys

flyx

full member

Activity: 374

Merit: 101

I am a student

Quote from: HabBear on December 20, 2017, 12:48:30 AM

Quote from: ?? on ??

~~A cofounder of BTC said~~ that BTC is useless and that people should invest into BTC Cash

Can you Newbies stop mixing up the facts?! This is simple shit to not get wrong.

There is no official cofounder of BTC. The founder of BTC is Satoshi Nakamoto...and he's made no such public statement. He hasn't made a post on this forum for 5+ years.

The cofounder of BITCOIN.COM the website, wallet, exchange, news aggregator and forum...someone who's been a HUGE supporter of Bitcoin Cash since June or July said....blah blah blah doesn't believe in bitcoin blah blah blah.

The hunch is that he's dumped his Bitcoin and bought Bitcoin Cash. He's running up the price to bring hype and attention to the benefits Bitcoin Cash has over Bitcoin's deficiencies.

Seriously, guys, get the fucking facts straight.

You are absolutely right

Fundamentals Of

sr. member

Activity: 2380

Merit: 366

The previous posts pretty summed up everything there is to this dump in Bitcoin and pump in Bitcoin Cash. Well, the natural reasons would be the new listings of Bitcoin Cash in some not-so-small exchange platforms with a significant amount of trading volume. The other reasons would be that one or two big names within the Bitcoin Cash circle is dumping their huge Bitcoin holdings and used the proceeds to buy Bitcoin Cash. The catch is that the former cannot cause as large a spike in the charts as the one we are seeing right now. The latter could.

lankyman

sr. member

Activity: 382

Merit: 250

Quote from: Wicked17 on December 20, 2017, 01:38:36 AM

Quote from: lankyman on December 20, 2017, 12:37:14 AM

Hi, so now what on earth if going on with the price.
Lower than 17k , this is not great. It was killing past 19.500.

Any reason for this?

I would imagine these bitcoin future trading platforms getting involved is one issue.
Maybe im wrong

Love to know what you guys think here this is horrible for bitcoin, i would have thought the 20 barrier would have been broken by now.

When bitcoin price goes up in a short period of time, you don't need a reasons? Man, that is part of being a volatile in crypto currency world, sometimes it will go up and sometimes it will go down to become balance. One thing is for sure, bitcoin value will recover again anytime soon!

I hope it does, i really hope it does.
Its very horrible to see it reach a stable 18.500 to 19.00 and now its 20 thousand weaker.

I just hope all the other forks dont distort the way of thinking of the current bitcoin miners/owners.

justBorn

newbie

Activity: 42

Merit: 0

Quote from: lankyman on December 20, 2017, 12:37:14 AM

Hi, so now what on earth if going on with the price.
Lower than 17k , this is not great. It was killing past 19.500.

Any reason for this?

I would imagine these bitcoin future trading platforms getting involved is one issue.
Maybe im wrong

Love to know what you guys think here this is horrible for bitcoin, i would have thought the 20 barrier would have been broken by now.

Maybe whales?

They're already hit the profit they want. They will come back don't worry just hodl your bitcoin. I saw there's a support ing 15k usd - 16k usd

Harlot

hero member

Activity: 1806

Merit: 672

One good reason for this is traders are now on a profit taking stage. They are happy with their gains that is why they have sold their Bitcoin which also creates a ripple effect to the market making other Bitcoin holders to do the same.Also with Bitcoin is now 3500$ cheaper which can be an opportunity for them to buy back at a cheaper price. With how I personally observe how Bitcoin move this year every time that Bitcoin gets corrected only time will tell that it will soon recover to its normal state.

Herbert2020

legendary

Activity: 1946

Merit: 1137

they are pumping bitcoin cash again and each time that happens they also dump bitcoin and nobody is complaining about it because you can short bitcoin while buy bitcoin cash and make a huge double profit in both markets while you know it will end soon and you go back to normal.

right now you can sell on top and buy back at the bottom and enjoy the bitcoin cash pump while it lasts. then buy back bitcoin at the bottom before the trend reversal happens.
it is a good market correction anyways. it make the market healthier in the end.

Get-Paid.com

sr. member

Activity: 1878

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Quote from: HabBear on December 20, 2017, 12:48:30 AM

Quote from: ?? on ??

~~A cofounder of BTC said~~ that BTC is useless and that people should invest into BTC Cash

Can you Newbies stop mixing up the facts?! This is simple shit to not get wrong.

There is no official cofounder of BTC. The founder of BTC is Satoshi Nakamoto...and he's made no such public statement. He hasn't made a post on this forum for 5+ years.

The cofounder of BITCOIN.COM the website, wallet, exchange, news aggregator and forum...someone who's been a HUGE supporter of Bitcoin Cash since June or July said....blah blah blah doesn't believe in bitcoin blah blah blah.

The hunch is that he's dumped his Bitcoin and bought Bitcoin Cash. He's running up the price to bring hype and attention to the benefits Bitcoin Cash has over Bitcoin's deficiencies.

Seriously, guys, get the fucking facts straight.

We saw it and we have decided to move to Bitcoin Cash.
We cannot make small payments to our users anymore with Bitcoin.

Payments we made 5 days ago are still pending, these are payments for $1.00 with fees of $2.00

Bitcoin is now officially useless for small payments.
Bitcoin Cash charges only $0.04 to send a payment in any amount which is reasonable.

We would probably make a big announcement about it in our site later on.
Please understand the CoFounder of Bitcoin.com might say "blah blah blah" in your own point of view but many businesses will follow suit, paying a $30 fee to send funds is simply unacceptable.

Colorblind

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Activity: 392

Merit: 41

This text is irrelevant

My bet BTC price drop connected with insane pump of BCH. People switching attention and diversify their portfolio.

jseverson

hero member

Activity: 1834

Merit: 759

Not a big deal. What was that, a little more than a 10% drop? How much has Bitcoin grown the past few days? It's normal. It can't keep rising.

It may have something to do with another round of Bitcoin Cash FUD, as it seems to have been pumped again and all this noise about Bitcoin.com's co-founder. Honestly, this isn't a cause of concern. Things are going to correct themselves in a few days.

Wicked17

full member

Activity: 476

Merit: 107

Quote from: lankyman on December 20, 2017, 12:37:14 AM

Hi, so now what on earth if going on with the price.
Lower than 17k , this is not great. It was killing past 19.500.

Any reason for this?

I would imagine these bitcoin future trading platforms getting involved is one issue.
Maybe im wrong

Love to know what you guys think here this is horrible for bitcoin, i would have thought the 20 barrier would have been broken by now.

When bitcoin price goes up in a short period of time, you don't need a reasons? Man, that is part of being a volatile in crypto currency world, sometimes it will go up and sometimes it will go down to become balance. One thing is for sure, bitcoin value will recover again anytime soon!

Walrus1

member

Activity: 182

Merit: 20

50 billion in market value was moved out of Bitcoin in a very short period today. As it dropped 4 billion went back in quickly. Sounds like the whales are having a frenzy, I was watching it I'll see if I can post the link

Topic: Why the huge drop in value - 15% as they say ? (Read 300 times)