Bitcoin Forum

Hello, bitcointalk forum members!

I'm interested in one important question, why today bitcoin has fallen in price by $ 900 since yesterday. The whole market also fell significantly ... What influenced it?

if you're looking for news, I don't have any


but from a TA perspective there's been so many signals that even a blind person could see them

bearish divergence on the RSI
breakdown of a rising wedge
13 count TD sequential sell signal
hitting a resistance zone
hitting the fib golden pocket from the last peak
and a couple more I can't remember now

I will try to suggest you read this news and then that will give you a lot of clues about the factors that have made the price of bitcoin has dropped so much from 7k rate
https://cointelegraph.com/news/abra-ceo-sec-denies-bitcoin-etfs-because-applicants-do-not-fit-industry-archetype
first and second ETF has been rejected by SEC and that's the real reason why bitcoin gets down a lot.

Because it rose. The price is still above $6500 which is more than average of last six months. We are gradually moving towards a stabler rise in the price of bitcoin. Though in the same period, most of the altcoins had a poorer performance.

What information do I have to know is that until the 30th of September there is a final SEC judgment on the ETF? Can you provide more information on this for me? I was really puzzled when I saw this unstable market

1. This is normal, because bitcoin volatility is free. bitcoin is not the same as fiat currency, or other stable currencies.
2. little demand and higher sales, the stock of bitcoin cannot control volatility.
3. Many people sell bitcoin quickly, they are impatient. so bitcoin volatility is short.

maybe this is happen because news about Argentina, or maybe another bad news about blocking or banning crypto on some country.

Bitcoin price (https://coincodex.com/crypto/bitcoin/) drop might have been caused due to DigixDAO (DGD) (https://coincodex.com/crypto/digixdao/) selling over 35,000 ETH which caused cascade selling effect.

Because we'll be range-bound between 5500-8000 (pretty huge range, I know.. but this is bitcoin--volatility, you know!) until well after the next halving.  So yeah, it will be a few years until the euphoria comes back like it did in 2017.  Anyone saying anything else is partially correct (market technical analysis) or just plain wrong (mainly people who attribute price to various pieces of news).  There is very little in crypto currency --NEWS-- that 'actually' affects the price.  Mostly it is just emotion and manipulation.

I do not think that there is much to worry about here, because now bitcoin is in a very harsh corridor, which sooner or later it will have to be disinfected and where it goes, the whole market will go.

ETF rejection might be a factor of Bitcoin price fall because crypto people believed that the approval of the said proposal will lead to stability of the cryptocurrency in which apparently give a big dismay upon the rejection but I know it will not last long because of the evidence that even without ETF crypto still manage to withstand the storm, bear in mind that ETF is for an institutional investor not for the common user.

In fact, this is not a very logical fall.He did not even achieve resistance by 200.Perhaps the news will soon appear, as they say, sell on the rumors.

Listen, but it is not clear in fact. Someone says that it's old wallets "discovered". We will see. Time will tell.
But now is the time to buy it)

there are many people who will have gained significantly from today's events, over the past few weeks the price has been yo-yoing so a lot of people are buying to sell short term. I suspect its people buying at 6k, holding until around 8k then selling off. They then seem to be repeating it over and over. Good way of earning some quick money but not good for crypto as a whole.

I think there was a major market correction in the cryptocurrency space, within the last few days Bitcoin price had soar however there was a need for correction which it did. Thanks

This is just a bait, the market is Okay.
we have seen a slow rise of the bitcoin in the market and a sudden fall.
this will make more big pockets to earn more BTC.
if you will panic and sell your holdings you will be a bait.

No it will not okay. There is a reasons why bitcoin price and the market are here in this kind of situation. Anyone saying why bitcoin like this maybe correct or not. I thought that we need more patience to wait the market rise again.

In my opinion, some institution or some very powerful person has withdrawn from the market. However even with this sudden drop the market remains healthy to invest and remembering that in the same period last year the values were around $ 4200. Another factor that we can consider is the regularization in some countries that can influence institutions of the same, as well as banks and credit institutions.

Not only Bitcoin but even all altcoin market is also fallen heavily , as much i know their was some SEC approval for this week now the next approval is on 3 week and 30th september 2018, so we can see some up movement after 3 days as till them market will get stable.

I think investors are no longer interested in bitcoins. They want to find new coins with greater potential for growth. Bitcoin is outdated, it does not bring much benefit to investors. So bitcoin is falling down.

Today, the price of bitcoin has dropped to $ 6,900, in 90 minutes it lost more than $ 400. The fall of the flagship crypto currency occurred after the whale associated with the non-existent marketplace Silk Road market moved thousands of BTC to the crypto-exchange, Cryptoglobe writes. The owner of Bitcoin, who was not active since March 9, 2014, recently moved his fortune from 111,000 BTC and BCH to several purses with a balance of just under 1,000 BTC each. A detailed study showed that the funds may belong to Dread Pirate Roberts (DPR), the administrator of Silk Road, the user of Mt Gox or the supplier of Silk Road. The user Reddit sick_silk, who follows the mysterious bitcoin kit, showed that he continued to move part of the funds to the leading Binance and Bitfinex exchange.
Of the 15,593 BTCs (currently worth about $ 108.9 million, which is approximately 14% of the whale's assets), Bitfinex took 11,100 BTC and 4400 Binance. Over the past 24 hours, these transactions have caused a 6.06% drop, which brought last week's profit to nothing.
It is noteworthy that the fall coincided with the moment when the giant Wall Street Goldman Sachs announced the revision of the decision to launch the trading bitcoin platform. At the same time, the Wall Street giant is still working on the crypto-currency storage service, which is likely to attract institutional investors to the market.It is believed that the unknown bitcoin-kit moved the exchange of the Bitmex 210 BTC cash derivatives. Perhaps, the dump was used for a short "closing" of the crypto currency.

Bitcoin value as of now are still in the range of $6-$7k and will never know whether it will dump or it will pump again. But even it's has a long time of dump it is much better that we can look it in the brighter side by considering downfall may be the chances and opportunities to us to buy more of it in much lower cost value therefore we can be much profitable and benefited in the near future because for sure that bitcoin and itself will be much successful in the future.

Probably a large whales (or several) were trying to trigger a panic selling wave, which seemed to have worked since we went below the 6900 that was holding pretty well.

It does look like we've reached a support level around the 6400 so we'll if it holds, if not then we're looking at 6k very soon, if it does hold then we can expect a rebound pretty soon since we were in an uptrend a few days, and the bulls will probably take advantage of this drop and buy cheap.

What's happening is very normal with cryptocurrency. Prices go up and down, slowly or sharply. This bitcoin drop, I think, is due to panic selling of bitcoin. But, it will settle down for sure.

as we can see the fact that the market is declining, and that is sometimes we cannot guess so precisely, because every bitcoin administrator must have the right reason why they are reducing bitcoin. so any situation that we experience must have a reason.

This is normal. I believe this will continue for a long time as cryptos are not fiat currency. So we should learn to invest carefully.

It's just a strait of price, it's absolutely normal for the market. Bitcoin grew for a long time and after that all the indicators were overheated and growth could not continue. After such a strait, I think that growth will continue, I hope that the bottom-line will break through!

bitcoin is like this sometimes it sometimes goes up sometimes it suddenly drops but I still haven't found a very good reason why it happened either because of negative news or something else but what I know is that the price of bitcoin is unstable so it's normal for bitcoin to rise and fall...

I have communicated with traders and they do not have an answer to this question. I looked at the fundamental analysis and did not meet serious news that would be able to bring down the price so sharply. But traders reassured me they said that the bear market will go until the end of September and bitcoin may still fall strongly.

I saw last years also btc prices fallen down. So i think this is a nature of cryptocurrency. End of year sometimes btc price will up.

It's wrong to call Bitcoin obsolete in the eyes of others, Bitcoin is the biggest and most demanded cryptocurrency, so far most of us are just waiting to invest in the right time, this is the risk of manipulation with a very fast increase and now experiencing a very rapid decline and sharply, there are so many lay people who panic and do not understand the concept of the cryptocurrency market, for the most part all altcoin movements follow in the footsteps of Bitcoin are now a lot of red everywhere, not too much in the face of this situation, many say that this is normal movement in every market, we will definitely recover for a long time.

From the point of view of the manipulators was a very interesting game:

Those shorts, which were open in huge numbers on level 7300 all -??? were shorts large players.
Holding the cue ball at the top level of 7300 manipulators gave a hint of breaking through this resistance line and further growth. Many artists, frightened by the long consolidation of the 7300, and I including, moved the stop-loss to breakeven, because the movement to 7400 knocked us out of the market and discouraged the desire to open shorts again. T. about manipulators got rid of extra passengers on the train called " short”.

most likely the cause is that because it has a huge influence on the role of investors in the development of bitcoin and altcoin and I see that at the end of the day prices continue to decline while the potential for altcoin has decreased in investing in coins that are less potential. but I hope bitcoin or altcoin will soon rise from the current downturn because most of them have the potential to make a profit.

I read different opinions. But, it seems to me that this is a banal manipulation in the market. Big guys have come from vacation and want to buy cheaper, so the market is shaking.
It seems to me that another 1.5-2 this will happen, and then we'll fly =)

I'm already starting to panic. How long can the fall continue? I'm starting to get depressed. I hope it won't be long.

not 900$ btc droped 1200$ in 4 hours .. goldman decided to not build a crytpocurrency desk for the investors this is not a big deal but manipulator used this to crash the market

 I think fluctuation and falls are quiet normal and just part of the deal. I see falls as great opportunities to buy and make more profit.

Did you see others coins/tokens prices and the volumes of trades on recent dump (if somebody sold then somebody bought... think about it)

The reasons for free fall bitcoin.
1. Poor liquidity.
2. Investors lose interest in bitcoin.
3. Market manipulation by large companies.
4. Investors who sell bitcoin.

IMO, ETF outlook doesn’t look positive at this moment. I believe the fud from Goldman Sachs not confirming the plan  to start crypto desk play a part as well.

https://www.google.com/amp/s/cointelegraph.com/news/business-insider-goldman-sachs-drops-plans-to-open-crypto-trading-desk/amp

If this happened due to the rejection of ETF, the price will fall very sharply if the ETF scheduled on 30th September will be rejected. But in last year also the ETF got rejected. But the price didn't drop. So why in this year the people pay much attention to the result of ETF proposal?

it's not just bitcoin, almost all the top coins like ethereum, ripple etc is joining to the crash. this is still the effect of widespread bearish correction across the cryptocurrency market

Negative impact of ETF is one of the reason and apart from that people's investment part is reduced when compared to others and now. I really wanna go with the holding phase for long time I believe personally It will be never regreat in the price changes or etc.

Investors needs to give more support on bitcoin and altcoins to grow more.
I am not a speculator and I do not have power to confirm the bitcoin's price worth movement.

Well, for sure there are whales that sorta control the market, but this is crypto, there are always highs and lows, am sure you should have gotten used to that if you where into crypto for a while now . Don't worry the bearish will soon be over and we will enjoy bull run .

This was the unexpected move in the bitcoin price .This will affect the day traders for sure.My suggestion for them is ,just hold your bitcoin for certain period.Actually 900$ is the huge amount,many altcoin is struggling till now to reach 900$.Keep in mind,the price of bitcoin had raised 500$ in single day.So need to worry about the negative fluctuations in bitcoin price.

Many of the factors that cause cryptocurrency to experience price reductions including bitcoin, Cryptocurrency has a large volatility and does not have established regulations, so dumping or pumping can occur at any time. This year cryptocurrency is like losing trust from investors, so many investors are selling cryptocurrency for now.

I believe that if something happens it means someone is profitable! I think there are very rich people who want to buy the crypto currency as cheap as possible. Therefore, they by all methods reduce the price and create a panic in order to achieve their goals. The fall, for many to much regret, will continue.

The answer is one. Perhaps large investors are preparing something large-scale for the New year. I think that now there will be a wave of artificial depreciation of bitcoin for its purchase at a lower price, as all forecasts say that by the New year the price may return to the mark of December 2017

Sure there are many factors which take cryptomarket down, like some countries restrict crypto, so its price go down.

Plus short term investors buy and sell Bitcoin over 300 - 400 dollar profit, it also has negative effect. Green and red waves change too often.

But these are temporary inconveniences. Long term investors collect Bitcoins, in couple of years its price will be  five times more than today.

Yes it is quite obvious that bitcoin price is falling rapidly well it is not only bitcoin that is down some other coins are also falling this is because of the bearish market state in the cryptocurrency world right now

As always, Whales manipulation its been so obvious from previous days about transferring million $ on bitfinex, they are planning to take down some of exchange that provides margin.. Accumulation may happen probably end of next year see bitcoin @ 2k $ :D

There are many influences why bitcoin drop consecutively together with other crypto currencies.
As you can see the market now is almost red but for me this is the best time to buy if I were trading right now.
Big whales can influence the drop of the price and a lot more.

I believe that this is another speculation. There was a fake news about Goldman Sachs and that it canceled the plan for the launch of the crypto-currency trading division, so the market rolled down. Of course, this is not the only reason. Investors are nervous about the prolonged dump and the general uncertainty. but in fact, everything is thought out. It seems to me that the market will not fall for long, most of the weak hands have already given up, fixed losses and cashed out. I'm not going to do such a stupid thing! patience will be rewarded.

I myself have the same question in my mind, because there is no negative news that makes the price of bitcoin fall deep enough. but I speculate from last year's experience that all there must be enough price reductions this month, so that later at the end of the year there will be a significant increase. I am sure that if current bitcoin can go back down to around $ 5000, by the end of the year there will be a very high increase in prices even back to the month.

Don't know about bitcoin, but I've heard for ethereum that somebody sold off 200.000 ETH on bitforex (or was it bitfinex...) and that clamped down the price of ETH to around 230$. Then bitcoin flash happened...

There are also some rumors that the recent BTC (https://coincodex.com/crypto/bitcoin/) drop was caused by a fake story about U.S. investment bank Goldman Sachs temporarily abandoning its plans for a cryptocurrency trading desk.
https://coincodex.com/article/2303/goldman-sachs-cfo-labels-report-of-firm-dropping-cryptocurrency-trading-desk-plans-fake-news/

You can not say that bitcoin is still falling, and it's also impossible to say that it is growing, because bitcoin has a lateral movement, which it can not overcome, but that it should happen, because such lateral movement obviously will not last long .

It is clear that bitcoin and altcoins are decentralized concepts, of course it is not uncommon for bitcoin to fall and skyrocket, but I'm sure the most important thing is that we are always patient to get big profits.

There is a lot of information on this, mainly doc who holds many Bitcoin and Ethereum has sold a large bitcoin. I feel scared when they can do it (bitcoin drops $ 1000 in 1 day). I bought all my money and now are losing money

Yes absolutely it is falling comparing to last year statistics record, however this will not remain the same. Due to the competition in alt coins investors have some other plans. I hope it will make a strong comeback.

likely because many sell bitcoin

In fact, you can see that bitcoin is growing. Fell no more than 6500. This means slow but steady growth. It's better than if it takes off abruptly, and then falls even more than it was before.

The last drop in the price of bitcoin and other crypto assets is due to Goldman Sachs decision to refuse to develop its cryptocurrency unit and decision of the bears to get something out of it.

I considered that this falling of bitcoin now and not only bitcoin and the whole market will down significantly because it is a part of being volatile in the market since whales are trying to manipulate possible the market get worst and also those panic seller too contributed the market get down. So, nothing to worry let us extend our patience let's wait until at the end of the month at this year.

At least you can try to tell the reason behind that rather than due to the ETF hype and so many people have big expectation with it but  in fact there was a lot of reasons that make ETF can't be approved by ETF and then people are loosing a lot of trust on it. it's hard to tell but people are having a lot of delusional rather than try to use the working way.

There are many reasons why bitcoin falls, such as manipulation, massive selling and negative issues. And until now there is no sign that bitcoin will rise again. But according to some practitioners, the price of bitcoin will rise again later this year.

First, bitcoin rises or falls. The market reaction is normal. Secondly, I think Bitcoin may hate the influence of some altcoins on it. It needs to defeat its distractors in order to grow up.

Everyone knows that such actions that are now being carried out with bitcoin are called manipulative, otherwise it can not be named, because it is the rich people who start to move the market with their BTC volume

The price increase and the decline in Bitcoin prices are always up and down.
If you see something strange in Bitcoin it is hardfork back to create a new coin.

Investors have seen such a huge boom in past bitcoin is still trading higher than the before boom rates every body wants to become rich overnight and people are seeking opportunity to sell .No. of sellers are more as compare to buyers.

It is true that bitcoin is currently falling, followed by coin - other coins, fluctuations like this are often the case and this is normal, but surely the future will slowly recover and return to normal as before

because more large investor, already exit and found another coin profitable

Bitcoin fall because bitcoin had experienced a very high price increase at the end of last year, so if you ask why bitcoin is falling the answer is that it is unlikely that prices will always rise, there will definitely be a price drop in each increase. And for now, let's celebrate that the current price of bitcoin is very stable on the market, this will have the opportunity to go back up.

Many investors were frightened by the fall at the beginning of the year. Correction after the fall is still not over.

Now absolutely the entire market has sunk in price, and the investor has not become active with it, but soon there will be growth.

I think in this context we must be clear that 'falling of Bicoint' its all relative. As a matter of fact, in the past months Bitcoin price was stable within the $6000 region and seeing small fluctuations in price is only normal.

Yes, you are right, lately Bitcoin has been behaving more or less steadily, Bitcoin has fallen from a mark of 20 thousand dollars and is  stuck now.

Obviously, public interest has diminished due to a lot of bad news circulating about cryptocurrency, but in my opinion regarding BTC even though it doesn't mean that it's cheap until now, bitcoin can still be expensive

The Bitcoin price was falling during the whole year and there were some pumps and dumps but only for a pretty short period of time. Generally, we need a lot of new investors and positive news in the crypto world to move the market up.

Bitcoin if you see does not fall that much. It got corrected in the whole year. But still it is the more profitable coin because it is face of crypto world.  Secondary many new token raise their fund through this. Invest in this can give healthy returns in future

I think the reason for the crash is more technical than fundamental, obviously there was a huge bull run of 2017 and early 2018, A relatively market correction is needed to ensure some stability and at such bitcoin won't be termed a bubble as perceived by some critics

People talk about bull and bear, i have different thought. I think the fomo time of cryptocurrency has passed and cryptocurrency is at its real price, Bitcoin is one of them. Bitcoin price will increase if there will be good news for it, but it will not sublimate like it did.

Bitcoin prices dropped because everyone who had bought Bitcoin before 2017 sold the Bitcoin they had in 2017 because the price risen
very high and that made Bitcoin prices drop this year, but I am sure 1-2 years later the price of Bitcoin will rise again and give profit to people who buy Bitcoin right now.

there are many things that can make Bitcoin fall including the news that is circulating, but in fact I don't really understand. maybe this is a condition that is intentionally made by some people or indeed absolute Bitcoin is down in popularity. but in this condition I think we can still use it to make a profit by buying coins that are down and storing them for sale when prices go up again.