Bitcoin Forum

Bitcoin plunged, breaking the $ 6550 level, but not in a good direction, the BTC / USD plunged, dropping $ 342 in just 35 minutes.
https://i.imgur.com/kSdFdCT.png
Electronic money analysts have predicted that bitcoin prices are about to break from the price of $6550 , and those projections become real early today. Unfortunately for investors , the motion has not happened to the good afternoon. This is completely contrary to the hope of breaking the $6k8 threshold to reach a short - term increase.
After a brief hike to $ 6,700 in the week. Bitcoins are stable between $ 6,550 and $ 6,600 today. However, not long before 1:00 UTC, BTC/USD fell from $ 6,594 to $ 6,252 in just 35 minutes. Bitcoin is priced at $ 6,288 on Bitfinex, down about 5%.
I wonder if this reduction will make investors more worried about Bitcoin in the future as the market continues to fall?

Seems John McAfee will eat his cock on TV after all...

That drop goes in hand with a drop in the stock market, it seems investors are scared of a crisis and are selling assets. The only positive side of it is that bitcoin has the smallest drop among the top currencies at coinmarketcap.

people who were saying this in the past couple of days have the same level of understanding (or lack of understanding) of the market as the people who are saying bitcoin "plummeted" today.

as the real "experts and analysts" have been saying price is not moving in any directions and there is no signal whatsoever. all we have is a stable price. and stability for bitcoin means fluctuations that are smaller than a certain percentage and so far they are in that range.
this means there is nothing to be excited about when there is a tiny rise and there is nothing to be scared of when there is a tiny drop as long as we are still in the same price range. this range is starting from about $5900 and continues to $7200

Seems like it, but apparently he adjusted the date of his predictions. At this point in time, would you really believe anything that McAfee states regarding cryptocurrencies?


Some investors could have cashed their bitcoins out to offset some of the losses they incurred after a slight decline in the Dow. Or perhaps, they just wanted to cash out after the long stagnation of the price between $6550-$6600. There isn't a huge reason for the price to move that much and with all the months this has happened, I don't think it is somewhat special anymore.

I am surprised that Bitcoin has fallen after Dow. Last time crypto fall was just before stock market fall...
However, while we are used with bigger fluctuations on crypto markets, the stock markets don't change that much in a day, 4% is not a slight decline....

As always, we were painted red while waiting for the rise. I hope this is the last. If the market can make this crisis one, we'il be relieved.

The media isn't even helping matters with the reports. The slight crash (for me) was reported earlier today as if it were the dead bell for bitcoin. Come on, the coin only lost $300. Why make it look like it went down to $300. Honestly, I had thought the politics around the ETF would've even dragged it below the $4000 range.

WTF!

This does not matter to me anymore, it's so familiar to me this year. Market is expected to slow down you slowly enjoy this meal

I don't know if we may see below $6000 Bitcoin price but I know that it will always return and make people relieve again. While other person are in stress and selling now.

Exactly, the drop coincides with the fall of not just in the US but all over the world (EU and Asian stock market). So it initiated from Wall Street, trickling down, even oil future is down as well. I agree that investors might be anticipating a global crisis so we shouldn't be surprised by the drastic down trend today. But if you look at the price movement, alts suffered more than bitcoin, meaning there's a continue trend of re-shifting their money and probably moving their funds to bitcoin that's why the drop is just < 5%.

I believe it will not drop below $ 6000. I do not worry about this issue, I'm trying to buy more bitcoin. I believe the price will rise tomorrow and I will start to profit from it. This is not the sharpest decline I have ever seen, and it will definitely increase again.

The US Securities and Exchange Commission (SEC) has ruined the profits Bitcoin has made in recent years. The regulator has delayed its decision on the Bitcoin ETF proposed by the VanEck SolidX Bitcoin Trust. Bitcoin prices immediately dropped 11% after the news came out

As bitcoin has dropped, all other cryptocurrencies have also followed it and dropped sharply. The price of altcoins mostly depends on bitcoin, when it drops all other altcoins have also drops and when it increases all other coins has also increases.

for some reason I feel like the market conditions this year there are people who manipulate so that cryptocurrency prices remain stuck like this. not too up or down. the price can recover, but it doesn't last long and then falls again


Yep, no doubt

Yes, nerves he botched today many. But note that bitcoin has not broken the lower boundary of the triangle, and still be in it. Therefore, in my opinion, now the price should rise to the level of 6479 and further correction will be possible again.
Again, as will now operate the media. What news they will bring us.

In fact, I expect a decline in prices in all markets, and so that bitcoin can find the lowest price point, if bitcoin has found the lowest point then there is a possibility that in the future bitcoin can touch a fantastic price and possibly touch 1 million dollars per 1 BTC ..

Its been always a trend that when market drops prices bitcoins domination grows,things that make altcoin more devalued

But we have the same thought that the stock markets movements makes the investors withdrawing to lessen the possibilities of losing their capital,things that happened how many times this year alone

Red is what we are seeing. The market has moved up quite fast and stopped an extended position, so many investors started selling Bitcoin that made it significant fluctuations. But it opens up opportunities for other investors so do not worry about anything because the market will soon return.

If it went down that fast, it's probably going to go back up soon enough.

It's all short term noise anyway. The long term price is always increasing. This is nothing but a blip (although I would recommend not spending any bitcoin on dollar-denominated terms until this changes).

The market has not fully recovered. Not only Bitcoin, Altcoin is almost tending to fall sharply. A red market that I have never seen before, which makes investors like me have to ponder and hesitate to invest in the next few months.

You can not deny the fact that red is part and parcel of the market! Even in major Bulls, there are always reds! If people don't sell, people won't have to buy and the cycle of marketing in the space wont be complete! I guess is time we live with the fact that its not always that the market must be green! $Bitcoin will rise and plummet so will altcoins! that's what makes the market interesting

the rise and fall of the market, I think this is natural, because it is the current situation like that. so we can't change it, with the rise and fall of this market price. so as a result many of our friends are nervous and panicked.

We might get to the 5800$ level in few days from now. It's quite easy to see that the price is being extraordinairely manipulated and dumped.

It is unfortunate that we are getting to the end of the year with this huge drop. Bitcoin has been having experiencing various forms of drops since the  beginning of the year. The drop in recent times is really alarming and it is the hope of most investors that the market recover in due time.

Or perhaps they deemed that it's going to be more strategic to sell now and buy at a much cheaper price. The decline was steep and quick and for some who are looking at long term investments, what's happening right now could be considered as a blessing. I don't think there are as many panicky holders now as there were before.