Why the sudden fall to $700s after stable $900s? - page 3.

JakaE

member

Activity: 78

Merit: 10

Quote from: Hazir on January 11, 2017, 05:37:03 AM

Quote from: JakaE on January 11, 2017, 05:17:20 AM

Maybe some panic due to Bitstamp being unavailable for many users ( me included Undecided

) ?

Nah, it has nothing to do with Bitstamp or any other western bitcoin exchange. Current decline and somewhat unstable situation is caused by Chinese government trying to curb bitcoin trading.
They continuously see Bitcoin as a danger to their own domestic financial market and fiat and way for Chinese citizens to transfer money abroad.
That is why they recently announced harsh AML/KYC procedures will take place on every major Chinese exchange from now on... There might be more anti-bitcoin laws coming.

Wasn't this the reason for the big drop about a week ago? Maybe he is talking about the smaller decline just recently, after the price was pretty stable around $900 for a day or two.
Did any new news come from China yesterday that I missed?

Hazir

legendary

Activity: 1596

Merit: 1005

★Nitrogensports.eu★

Quote from: JakaE on January 11, 2017, 05:17:20 AM

Maybe some panic due to Bitstamp being unavailable for many users ( me included Undecided

) ?

Nah, it has nothing to do with Bitstamp or any other western bitcoin exchange. Current decline and somewhat unstable situation is caused by Chinese government trying to curb bitcoin trading.
They continuously see Bitcoin as a danger to their own domestic financial market and fiat and way for Chinese citizens to transfer money abroad.
That is why they recently announced harsh AML/KYC procedures will take place on every major Chinese exchange from now on... There might be more anti-bitcoin laws coming.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: Barnabe on January 11, 2017, 05:25:53 AM

I guess people were selling to pocket their profit, since many of them did it a small panic selling may have occurred...
Nothing new Wink

It happens with the stock markets all the time. It happened with Bitcoin also, in 2013. After hitting the $1,000 per coin mark, Bitcoin fell back to $800-850 and stayed there for a while (before the Mt Gox scandal crashed the exchange rates).

Barnabe

hero member

Activity: 616

Merit: 503

★Bitvest.io★ Play Plinko or Invest!

I guess people were selling to pocket their profit, since many of them did it a small panic selling may have occurred...
Nothing new Wink

hase0278

hero member

Activity: 882

Merit: 544

Its just usual that bitcoin will fall from 910$ to 840$ since it is volatile. Right now, it's price on preev is 872$ and no one can predict bitcoin's price a month from now it might rise more or dump but in my opinion it will dump. That's just a wild guess though let's just wait and see what's the future price of bitcoin this will be a good month for bitcoin and it will have a very volatile price thats what im certain of.

JakaE

member

Activity: 78

Merit: 10

Maybe some panic due to Bitstamp being unavailable for many users ( me included Undecided

) ?

Skarner21

hero member

Activity: 700

Merit: 500

Massive price drop coming...

This is just a normal dump price and i think the price of bitcoin will increase again back soon.
Look the chart there are some pattern and i think after few hours the price will increase again back to $900 level..

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Quote from: shadowninjax on January 11, 2017, 04:52:32 AM

I just don't understand. It was almost like in an instant.

Was there some pretty bad news?

The volatility is very unpredictable right now.

Is this a downtrend or will it be back up?

Thanks

No one knows which direction the market will move! You can ask until you are blue in the face, the price might rise, the price might fall.
It seems now like we had a mini-bubble. The Yuan price was 8900, which is an all time high, and about $1280.

Now the Chinese price has fallen back into line with the USD price, and the mini-bubble has popped. We are back at mid-December prices, remember the price was sub800 early in December, so we are still actually up since then! I am hoping for a continued rise from here, without it bubbling over. Who knows what will happen though.

trollercoaster

legendary

Activity: 1050

Merit: 1001

Apparently a few exchanges are going to be investigated..

ynef

full member

Activity: 158

Merit: 100

Someone finally woke up from the new years hangover and realized the BTC rally happened.

shadowninjax

newbie

Activity: 59

Merit: 0

I just don't understand. It was almost like in an instant.

Was there some pretty bad news?

The volatility is very unpredictable right now.

Is this a downtrend or will it be back up?

Thanks

Topic: Why the sudden fall to $700s after stable $900s? - page 3. (Read 2823 times)