Bitcoin Forum

Because of the recent news, there was a flash dump anomaly earlier today, from over 1200 to 1050 then quick recovery.

Is this a sign of popping bubble or was it just a single whale dumping or bot anomaly?

What about technical analysis? Discussion.

A whale probably made a boo-boo (aka sell-order instead of a buy-order) hahahah

Stop analyzing every bump and fart on the chart ....

But that wasn't just a fart, look at the chart! When was the last time you saw something like this  ???

Sorry to say, but the lowest price was $1176 at Bitstamp and $1185 at Bitfinex. From where do you get $1050? Either way, it's just a large trader that most likely took profits. It's a fact that order books lack liquidity, and thus a large trader needs to sell the price significantly down in order to unload the amount he wanted to get rid of.

Just another dump caused by rumors that won't last for more than 12 hours. In fact less than 6 hours price is almost the same as before.

If you analyze the graph closely you'll see more of them this year. Good opportunity to make daily trades and increase bitcoin holdings for a few %.

$1050? Where did you see that?

I see a bottom of $1176 at Stamp, $1185 at Finex, and even BTC-e only went down to $1163.

Coinbase.

the lowest price on Coinbase was $1190.6!!! unless you are living in an alternate universe this was the price in our universe.

here is the charts from bitcoinwisdom.com
https://i.imgur.com/tJ0Pv7s.jpg

Your source and the link to the proof first please, you can't just throw a statement and provide no evidence, maybe you were on a crappy exchange where some whales control the price and volume for their own benefit :D
https://coinmarketcap.com/currencies/bitcoin/

The price didn't go that low, it was higher than that, and it is typical of bitcoin to show those kind of ups and downs. Insta dumps can happen, insta buys can happen too. What happened is, people had a ton o buy orders that got filled quickly, that's all. I don't think anything out of the ordinary happened. Just another day in bitcoin office.

He is right, Coinbase price got dumped down all the way to $1050.

https://bitcoinity.org/markets/coinbase/USD

I still support my earlier post. It's most likely a whale that dumped the price all the way down due to the lack of liquidity. Nothing really interesting as the market recovered nicely from that dump.

Go to Bitcoinwisdom.
Look at the 1w chart.
Load up the BollingerBand (BBAND)

You will see that we are still on the top side of the bollinger band.
The "fart" did register but is nothing to worry about.

I've seen "farts" pushing BTC to 3100EUR for a millisecond.
I've seen "farts" bringing Bitcoin to it's knees for a millisecond.

I've seen Bitcoin fluctuate way more than this and have learnt that the only thing that matters is your long-term perspective on Bitcoin.

If you are so jumpy then get out of Bitcoin ;-)

bitcoinwisdom API bug.
legit but the orders don't touch this (planned orders).

i have planned orders.  ;D

Kinda like the one that shows Stamp going to $0 last June.

This is why it's wise to check multiple exchanges. Even better is an averaging index.

That can easily happen on one exchange but not on the others. That drop was pretty big, but if the ETF is not approved, it could drop more than that on all exchanges.

Well that's very unusual value since I'm trade bitcoin over a year but as you can see that people still trust on bitcoin and they can't be provoke by sudden dump by seeing the fact that bitcoin value keep stable on $ 1.250 ++ (preev)

Everyone has already forgotten that nasty ~$300 dump 2 months ago, this $100 drop is nothing.

https://www.gdax.com/trade/BTC-USD

Looks like one or more traders got a bit too excited when they were securing profits. It might even have been a trick to trigger stop loss orders. I think the latter is a likely scenario.

It shows that it does pay off to set some lower buy orders just in case the price sinks down heavily. I do exactly that, however, it went only down that far on gdax/coinbase.

The more I think about it the more I think it is probably a massive whale or a small number of whales who may have some inside info about a potential ETF approval. Perfect way to get more coims before the approval & subsequent moon trip? Simple......dump a shit load of coins which makes morons panic sell......then buy up a load of cheap coins in tike for moon launch.

can you post screen on which exchange this happened, i didn't see anything coming? but i can say that if it was not on all exchange, it was probably internal manipulation and nothing important


yeah but the volume was very low, it was indeed a stupid manipulation, to cause  panic dump, but investors aren't stupid

Volume of that coinbase dump was 1690 btc, pretty intense.

http://oi67.tinypic.com/2i0zwxy.jpg

https://cryptowat.ch/coinbase/btcusd (https://cryptowat.ch/coinbase/btcusd)

actually 1690btc to drop the price 200$ which is almost 20% is ridicolous low.
Lets assume other sites trade after this then they get screwed.
Marketcap is 20billion so 2million is nothing.

I wont make my decision after a 2 million $ drop.

The point is the orderbooks getting thinner as the ETF decsison is knocking and noone wants to have orders in the book in the wrong direction.

It was $1277 when I went to bed and then when I woke to check the price it was $1050.
What the frick man! >:(

It was only temporary and chances are you'll see that 1050 tomorrow for a short time if ETF is denied. I bought at the bottom and sold a bit at the recovery so I made a little bit, nothing to write home about.

I think this wont affect BTC overall price, a dump in a single exchange can easily be recovered once buyer from other exchanges realized this.  They will move their funds towards that exchange and buy them enjoying the profit.  And that is what actually happen when it quickly recover back to the real price.

Or probably a whale just messed up his buy order  (as stated of one of the earlier reply) clicking sell order instead LOL,

Yes whales will manipulate the price by pumping and dumping. The price could even be artificially high right now due to manipulation.

It seems that someone had a clue about the future price trend and dumped before others. Bots probably made the price drop even further. Let's see how this thing develops.

We can say it might be a clue but sudden dump and rise up again is quiet confusing or these might be some another bug.correct me if im wrong.Price of bitcoin didnt touch on that price point and some say its just on coinbase which a whale sudden dump his coins.

I do not believe that prices will fall in the bitcoin very quick time. but, I might believe it, if it goes down in a long time. I think this has something to do with the discussions held by the ETF. I just hope that this issue settled quickly.

Ohh!!! i didn't notice that the price also down.. and i think this is because the news about ETF.. From 2 days ago the dump also happen but until now we see that 2 times dump happen and i think more dump price will happen. hope that ETF will not affect the bitcoin price. .

Not much to discuss there, since it mostly failes on a situation like we got today. There are some news events pending!
I would advise placing a low buy order. Just to get some cheap, but if everybody tries the orderbooks depth will be to huge for the effect to bear some fruits.

Ya I dumped 10% of my bitcoins so that's where the big wave came from. Watch out for us whales  ;)

You shouldn't worry about every blip in the price. We had a 150% rise last year didn't we? Don't worry about it.

If you call this anomaly, then most of the things that happens with bitcoin price are anomalies. Also I follow price movement everyday, and todays lowest price was 1,164.70 dollars, where did you saw that 1050 dollars?


Just you and OP saw that price, I`m looking around but I don`t see that anyone else noticed this drop, what ever happened looks like now everything is back to normal. I wouldn`t worry about this, anyway I expect some little drop in close future before we continue to 2000 dollars.