Bitcoin Forum

Hi,

I'm still just a newbie so don't take my word for it but i feel like this whole market is being manipulated by large whales and the panic sellers are making the market go more down. The ICO was the main pillar for this crash, more specifically ICO's like Bancor, Tezos and Eos which raised insane amount of money. If you look closely bitcoin just corrected a bit whereas ETH and other altcoins saw blood.  The whales are making people panick about August 1st and further fueling the market crash.

I hope I'm not wrong but I feel like the biggest pump is coming. It may be before Aug 1st or after it but its not far from now. Its an amazing time to grab some new coins and bring your losses down. I feel like the market is being pushed down to create good entry points for whales. I'm still a student in college and I'm down to almost 40% but I believe the best thing to do right now is hold and accumulate more coins if possible. If not at loss, then you're already doing great and maybe throw a few suggestions.  Coins that I hold:

Viacoin
Shift
Zen (short term)
BTC

Let me know what everyone else thinks. I might be wrong and any suggestions will be appreciated.

I agree, some whales are behind this dip, looking for entry points to multiple their investment - insanely.
And your hodlings look solid. I've got some Via and BTC, recently added Stratis, Ubiq, and more Bitbay to mine

Whales doesn't have a same thinking. All altcoins are downed and I don't consider that whales are the main reason for it, to all of them.

Reasons normally are: securing profit, to minimize loss, panic selling, afraid because of some spreading fud's etc. Anyway these kind of action in trading really happened. Remember that it was not bound to lasts forever. Surely a pump will happened again removing those blood stains at the exchanges volume list.

More conspiracy theory.  Its all healthy free market when we go up 1000% but when we correct it's "manipulation"... These kind of claims have been made since Roman times and earlier.

These markets are thinly traded and when enough people want to sell at once the bids can go down fast.  The total market cap is not an indication of how much money people could get if everyone tried to cash out. More like a game of musical chairs.  You'd be lucky to get $20B of the $80B if everyone wanted out.  Same thing goes for global equity and commodity markets.  They are very demand dependent relying on balanced supply and demand to remain stable.   Thus you have quantitative easing and other magic tricks and zero interest rates to keep the sheep interested in overvalued stocks.

Market cap was around $25 000 000 000 until mid April 2017 Then...

From $54 000 000 000 to $116 000 000 000 in 1 month  mid may to mid june 2017 +$62 000 000 000

From $116 000 000 000 to $78 000 000 000 in 1 month  mid june to mid july 2017 -$38 000 000 000

Who do you think this is ? So much money... in and out in such short period of time.

yes yes yes everybody takes profit at the very same time, cool story

This is just a market correction. The price rose so quickly that it needs to recorrect itself. However, I think the days of sub $1,000 Bitcoins are long gone. I think the lowest we may see in the future is $1500. So if you see Bitcoin below $1000, I would definitely scoop up as many as you possibly can.

How come ? Not very confidant on your claim. Will we see it or not ? ;D

I have no idea what Shift and Zen are so I cannot comment but with BTC and Viacoin both have already risen very high. The holders of both cryptocoins have already start selling and in the case of VIA, have already started dumping.

It might be better to buy a stable coin now with 90% of the market going down. I suggest for you to take a look at Aeon.

http://i66.tinypic.com/k0kqrb.png

Yep, the support line $1000 of Bitcoin just in history and next time if Bitcoin still want continue growth, $1500 or higher $1200 is best support line for recorrect the price. But sometime, I scared maybe Bitcoin will make a big breakdown as 2013-2014, I not hope my guess will true :(

I think if this is not the correction because all of the crypto get red big candle. This caused by the bitcoin with the scaling issues that will be resolved asap. I mean those panic and trying to sell their bitcoin and cahsout to the fiat as fast as possible before the fork will be happened.

Ups and downs are normal thing in crypto, crash will happen, yes, but it will be isolated, on a few projects who trying to do BTC takeover from their early start, but without success. Others "normal" altcoins won't be affected too much, on small sign of light they recover their previous stance..

hello, i'm following the forum since 3 months but is my very first contribution:)
The yesterday dip has to be related to "bitcoin scaling proposal Segwit2x's testnet forked yesterday, creating two different and incompatible testnets, a bad sign for the upcoming scaling update. Nodes running older bitcoin software continued on as they normally would but nodes running the new Segwit2x code stalled at block 27070 for over 20 hours as a result of the issue. Reactions were mixed, with some dismissing the controversial scaling proposal for perceived lingering issues, while others defended the misstep as only a small stumbling block that wouldn't happen during a live deployment."

If you wanna check the entire article : http://www.coindesk.com/bitcoin-segwit2x-testnet-fork-scaling-proposal/

Thanks for the info. Very interesting article

What will happen on 1 August
For bitcoin ?

What exactly is there?

The market is always unpredictable. They compete for development even to collapse. The money market is so much money: ETH, ICO, BTC, UR ... The coins want to hold the position is not easy, they have to fight each other. Currently the biggest investment is bitcoin.

Just watch the price of ETH it has basically dictated the market's direction since it's astronomical rise in May. It's no coincidence the shit hit the fan as ETH was testing sub $200, fortunately that was very short lived.

It is not crash.
It is dropping.

Current dropping price is still above the price of 6 months ago,... or to be clear if we compare to last year price.
It is still growing in overall.

BULLISH
and HODL.

It's correction to go higher after it. But there are some risks that dropping will continue some more. So, if you have some profit coins you should sell them partly.

It is a major correction i think.
Market is recovering now.
I think another dip is coming before August 1.
Hope for good.

I agree with you your points is right but you should review your portfolio

Sell, then buy low and sell high. Rinse & repeat

Another organized dead cat bounce... Chart still looks quite bearish.. We need to have a real plunge in total market cap to form any sort of bottom. I'd post a chart but I'm at work.  I'm surprised the selling has been as organized as it has but I shouldn't be because you have to convert altcoins to BTC before converting to fiat.

I do not know if we might say its manipulation when few whales choose to move their funds back into fiat but its a known fact that the is fear and panic ahead of the bitcoin fork planned for the 1st of August.

i see no problem in raising huge amounts and how does the market get affected ???


It would be a good strategy for them to buy a bag load of cheap btc and altcoins from their speculations


I agree on the pump which is definitely on the cards but maybe not before Aug 1

I agree best time to buy coins is now while prices are down and its also a good entry point for first time buyers and not whales only which might ignite overall demand
I agree on the pump which is definitely on the cards but maybe not before Aug 1

Eth went from 12.00 to 350 or something like that. I expect eth to trade at sub 200. We will probably see a correction down to 120. even then its 10x from what it was at the beginning of the year. Currently its unsustainable as millions of dollars have to be put into the system daily to accommodate the miners.

I wouldn't call this a market crash. That is when prices are below normal. These prices are still quite high and some coins like Monero and LTC and obviously BTC are holding well. While others that are shitcoins are losing ground. You can clearly see which coins are better than others with this action. Right now you should be dumping your shitcoins and buying those good coins.

Sell everything or HOLD everything. Sell partly is not allowed.

Your explanation is correct when you have indicated the cause of the market crash. Someone has launched a rumor on August 1 that people are worried and have sold all of their Bitcoins, surely after this incident they have made a lot of profit. I do not believe the August 1 event will happen and I decided to buy more BTC to store in my purse

First this is not rocket launching and if fail it will be disaster.
Second we had chance to see already successful implementations of segwith, which only brought extreme popularity to those projects..
This is just a code and errors are possible, juts as situation when you went to empty ATM, just return later if you are no in extreme hurry. Nothing bad will happen.
Do not do some foolishness if you already invested in alts just wait, don't sell on loss.