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Title: What was the cause of recent price dump? Post by: korila on June 09, 2016, 07:13:38 PM OMG!!
I was up +5BTC, and then went down to -10BTC ... But I held,,,.... What was the cause of recent price dump?? I am now break even.. https://coin.dance/blocks I don't know much about BIP but sure seems promising. Let's ride this rally over 4000yuan~~ Title: Re: What was the cause of recent price dump? Post by: Alley on June 09, 2016, 08:32:36 PM What dump?
Title: Re: What was the cause of recent price dump? Post by: korila on June 09, 2016, 08:45:18 PM https://i.imgur.com/NAc03de.png
This dump !!! I think it's just a matter of time to break 4000 yuan. we all know it's going to happen :) also halving day is only 31days left. Starting from next week it will be 28days left, and as time goes by, more upward tension will build up Title: Re: What was the cause of recent price dump? Post by: dothebeats on June 09, 2016, 09:59:48 PM https://i.imgur.com/NAc03de.png This dump !!! I think it's just a matter of time to break 4000 yuan. we all know it's going to happen :) also halving day is only 31days left. Starting from next week it will be 28days left, and as time goes by, more upward tension will build up Shorters, small correction, shakeout? Not entirely sure but that doesn't seem to be something we should be worried about. We still got a month before the halving, though. Also praying to break even $600 for me to get a nice hefty profit. Title: Re: What was the cause of recent price dump? Post by: Alley on June 10, 2016, 01:53:46 AM What is that like $5? Sweet dump...
Title: Re: What was the cause of recent price dump? Post by: korila on June 10, 2016, 05:11:53 AM Title: Re: What was the cause of recent price dump? Post by: Herbert2020 on June 10, 2016, 05:27:36 AM apparently it is a different world in bitcoin-cny market! you see the topic saying dump and we check the market and see the price is almost the same $570 as it was before so maybe it is because of the difference of price (according to google 3875 cny is ~ $590) Title: Re: What was the cause of recent price dump? Post by: korila on June 10, 2016, 05:35:27 AM apparently it is a different world in bitcoin-cny market! you see the topic saying dump and we check the market and see the price is almost the same $570 as it was before so maybe it is because of the difference of price (according to google 3875 cny is ~ $590) That's true. USD amount is now meaningless. over 90% BTC is traded in CNY.. I think.. Title: Re: What was the cause of recent price dump? Post by: ImHash on June 10, 2016, 05:37:06 AM it really depends on people if they buy more price goes up and vise versa .
Title: Re: What was the cause of recent price dump? Post by: alyssa85 on June 10, 2016, 07:34:28 AM Plain old profit taking. Bitcoin is up 155% since Jan - that's bubble territory. So some people in profit crystallized those profits. As the Rockerfellers used to say, no-one ever got poor by taking profits.
Title: Re: What was the cause of recent price dump? Post by: 1Referee on June 10, 2016, 07:52:27 AM The price has gone up considerably very recently. It's normal that traders are cashing out a portion of their coins from time to time. Just keep holding as I expect a tiny bull run to take the price to around $600 and a little bit further.
Title: Re: What was the cause of recent price dump? Post by: Fortify on June 10, 2016, 08:47:59 AM apparently it is a different world in bitcoin-cny market! you see the topic saying dump and we check the market and see the price is almost the same $570 as it was before so maybe it is because of the difference of price (according to google 3875 cny is ~ $590) That's true. USD amount is now meaningless. over 90% BTC is traded in CNY.. I think.. Well you say that, but everyone outside of China references the conversion in USD. The Yuan is being manipulated and highly controlled by the Chinese government, until they take their hands off then it will never be trusted globally. I don't see much of a price dump, just a normal daily swing but it'll likely correct eventually. Title: Re: What was the cause of recent price dump? Post by: Red-Apple on June 10, 2016, 08:57:48 AM apparently it is a different world in bitcoin-cny market! you see the topic saying dump and we check the market and see the price is almost the same $570 as it was before so maybe it is because of the difference of price (according to google 3875 cny is ~ $590) That's true. USD amount is now meaningless. over 90% BTC is traded in CNY.. I think.. if it was meaningless the price of bitcoin in USD would have gone up to match the price in CNY not the other way around. besides it is not 90% of the market and the high volume there is because of the zero fees which lets them trade easier. and the rest of the world is trading USD. Title: Re: What was the cause of recent price dump? Post by: OrangeII on June 10, 2016, 09:48:25 AM The price has gone up considerably very recently. It's normal that traders are cashing out a portion of their coins from time to time. Just keep holding as I expect a tiny bull run to take the price to around $600 and a little bit further. Well, lots of things can cause it, and maybe one of them is a trade, but you're right, this is a regular thing, and I'm sure soon bitcoin prices will rise againTitle: Re: What was the cause of recent price dump? Post by: Ayers on June 10, 2016, 10:19:29 AM my theory is that chinese are pumping the market because otherwise the halving will kill their mega-farm lol, and with this they can cause a panic pump, so more fish buy in the panic pump and the vlaue skyrocket, it make sense i think
Title: Re: What was the cause of recent price dump? Post by: alyssa85 on June 10, 2016, 11:02:12 AM apparently it is a different world in bitcoin-cny market! you see the topic saying dump and we check the market and see the price is almost the same $570 as it was before so maybe it is because of the difference of price (according to google 3875 cny is ~ $590) That's true. USD amount is now meaningless. over 90% BTC is traded in CNY.. I think.. if it was meaningless the price of bitcoin in USD would have gone up to match the price in CNY not the other way around. besides it is not 90% of the market and the high volume there is because of the zero fees which lets them trade easier. and the rest of the world is trading USD. You guys know that the Chinese yuan isn't free-floating but instead is pegged to a basket of currencies (dollar, pound, euro, yen and swiss franc). That's why the movement was so closely correlated. |
