Bitcoin Forum

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/ (https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/)

My key takeaways:

• September is typically a bad month
• Baakkt is not doing very well
• It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

Guys - chill out. BTC is still at 8K. It's not like it dropped down to 1K.

If you're not okay with market volatility get out of crypto. It's down because it's part of its natural cycle.

The whales are selling - they might want to buy new cars or something. chill out - hodl and surf the wave.

If anyone goes in-depth and check for volume traded on exchanger can open your mind. Very high volume is selling. It means people are removing their investments by taking profit.


Basically Bitcoin have "0" value for a person who doesn't know it. So just chill still there is long time to go to become Bitcoin's price stable globally.



In the digital world, nothing is natural, everything is predefined, predetermined and prespecified.

If they were taking profit, they were late in dumping since they should have dumped when price was more than $12k. This is more like making those who bought BTC at the price when BAKKT was launched to sell in panic, you can really say crypto is very much manipulated not just by the whales, this is predetermined by what they see in the chart as well.

Bakkt was an event. Have you heard "sell the news"? Well, Bakkt was the news to sell, seems pretty obvious. Now, to know if Bakkt is a big mover, it will take some time, those things take time. The hashrate FUD via hashrate charts crashing, may have triggered weak hands coupled with the people that expected Bakkt to break the triangle to the upside. Add in anything else you want in the formula (september, and other things) and you will end up with a snowball effect going down. What can you do?

Plan your entry levels, and be ready for very low prices. Identify those as opportunities and not as a curse. That is how it goes in Bitcoin.

September usually is the month when people are hyped up to buy some for their stash, though unfortunately this is not that September that we're looking. As for Bakkt, I agree that it performed lowly of what was expected of them, but that's normal IMO knowing that some people would still love to trade where there is liquidity and price action. Some have just started selling and others followed suit, as what usually happens when there are big crashes such as this one that we're having right now.

Price of bitcoin dropping down slowly. Several incidents were stated for the drop in price within few days time. There is nothing as September is bad for Cryptocurrency and other few months were good. There is big expectation over the Bakkt, but this didn't gained good response. As other years, this year too the growth has taken place and what we experience is higher than the expectation. This growth will get recovered.

I don't think the market grows or dump depends on the time of year. I realize that the market has grown four times higher than Q1, so this is the time when the whole market corrects in price.
Baakkt may not have created a good trending, so it is and is also negatively affecting the entire cryptocurrency, however many whales take advantage of this event to control the market, making things worse.[/list]

I'm not going to subscribe just to read the article, that's crazy. I'm sure the Bakkt news could be a big part of the reason for the sell off, of course in this sector who really knows. I knew it will fall a bit though do to the slow decline, I guess it will be the "Bad News Bear" for a while until something big happens to drive the price in the opposite direction upward.

If "crashing" isn't the right word (it isn't), why did you use it? It went from 10k into 8k, so a mere 20%.

September a bad month? Then it means the Chinese still have a strong position in the market. It is them that keep following those superstitious beliefs.

Over-expectancy of Bakkt or actually executing the plan as intended? Futures is about betting against bitcoin and they clearly want to get the ball rolling, but the trend will reverse, and then...

Indeed it started the year at around 3k, so its doing great.

How certain are you to say that September is simply a bad month for cryptocurrency? I don't think so though.
No month is specifically designed to be good for cryptocurrency, people emotional behaviour towards it determines it price.
And as for Baakkt not doing good; we can't conclude for now, as it was recently launched. The price of Bitcoin is just dropping because some are selling and other are sacred they might lose, thus, the rush to sell too.

Bitcoin is volatile, therefore don't bank on it without considering its volatility.  The fluctuation in the price of commodities in the market is the joy of trading. This is the best moment for certain investors. Trade with caution and don't be selfish in the profit when it falls in your favor. The prize of bitcoin will drop the more to enable more investors to dive in while others abandon the market.

Ding ding ding!!  Whenever bitcoin tanks hard and fast, I always make it a point to keep things in perspective.  I wasn't exactly an early adopter, but I've been around bitcoin since it was below $200--and dammit if I don't regret hoarding all those coins I bought from Coinbase and Circle a long time ago.  I could have been rich-ish.

Not sure about the Bakkt thing.  I know there was a lot of talk about it and probably some high expectations, but who knows.  Bakkt could be contributing to the drop, but I just don't know.  The timing was certainly right.

They say things like that about the stock market, where toward the end of the year there's a lot of selling because investors want to write off losses on their taxes.  I'm not so sure everything is as predictable as they say, however.  If it was, there would be a lot of folks taking advantage of what's basically inside knowledge.  I've come to believe that there's nothing certain with investing--not in the stock market and surely not in crypto.

To be honest I wasn't really expecting such a drop in price of btc considering all the latest updates of different companies accepting in their business, I was actually looking forward to an increase but it is never certain with crypto, at times like this I find it difficult to look at my portfolio, it makes my heart skip  :-[

Why did you put this link? We can't access your article, registration is needed...  :-\
Well I think the hack of the Lightning Network, the Google quantum computing exploit and the very low volume on Bakkt at its launch are the main culprits of the crash... The big dip in the hashrate wasn't a good news too... 

I think bitcoin is not affected by what month it is, but to pure market activity and also if compared to last year this month is the month where bitcoin rises rapidly.
When compared to last year's profit, it is clear that bitcoin is still a profit, but for some new adopters and new holders, it is undeniable that they are panicking with their assets.



You can't say that because those who trade here they put their money to get profit instead of losing it so it goes down to 20% from 10k I think there are some people who feel lost and panicked that price can go down again and lose the chance to buy at a lower price later.

I very much agree.News about Bakkt was over hyped
But first massive sell off came after the end of sec commissionaires hearing in US congress
It was about Libra and cryptocurrencies. Libra  caused big warnings between governments
Now there was a lot of talking about financial risk.victims of ICO, criminal aspects etc
Libra was advertised like something great for crypto world. Even Binance and Gemini posted about his will to list to collaborate with Libra .So to list of reasons of current dump  we can add Libra case

"September is typically a bad month"

I doubt this. Crypto doesn't rely on any month. Every price depends on the market and not the month. However, it may seem you're right, but, I doubt. 

People who want Bakkt to trade high from the beginning don't know that this platform is only going to look good for big players. Small fish have other futures and don't need regulated platforms with 1:1 backing.

Big players won't enter on the first day they need time to muster. All similar platforms to bakkt that launched on traditional markets needed months to gather clients and did bad on their first day.

I'm sorry but just like to correct that August is the gosht month, not September.

I know a lot of presumptions and blaming why we suffer this market crashed. It may be it is all about time that crypto market needs to settle down from where it is the right price for them. Cause in my self, I'd never think that $20k is a fair market price. We could just reach that price because of hypes but what we have now, we could say that whales aren't making such a thing which good to prevent from losing. The market volatility remains and it is good enough.

Not meaning Semptember is bad month for bitcoin up and down or tgeir price is depends on the demends not for the bad months. Maybe the number effect of bitcoin price crash drops is because of the BAKKT news trends so therefore no need to worry this situation is part of the negative trends news, for sure after this all will gonna goes fix and bitcoin is goes back into the normal.

Your points are valid because you can not really attribute the price of bitcoin either increasing or decreasing unless it is either Christmas time or New years. Chinese or other wise.
But pointing out Bakkt might be a culprit is highly related to what happened since it did occur at the very same time from its launch.
Was it a coordinated attack on bitcoin's price from what the $1.2 billion usd worth of bitcoin that was sent to an exchange?
You make your own opinions on this revelation from the previous threads I responded to on the issue.[/list]

The reason why bitcoin crashed was not that it experienced speedily surge in price in the year 2017 nor was this month a bad month but the current crash was the market correction that usually happens before bitcoin halving.
Bakkt was not implemented to create surge in the price of the market but security and assurance for investors.[/list]

I don't really think these are the main reasons why Bitcoin is crashing. It is quite unfortunate that the month September  happens to be the particular month in which Bitcoin market usually experience crashing.  The particular reasons causing this crash are currently unknown. Assumptions can't be taken as the main cause of this crash...

Bitcoin price tumbled under $8K on September 27th and has since slowly recovered back to prices between $8,200-$8,300.
Yeah, whenever bitcoin futures contract going to live, we will see such movement on the market, the timing of Bakkt and bitcoin price drop was relevant.
Despite it's related to Bakkt or not, we will see bitcoin prices will spike due to the fact that physically delivered futures require the actual purchase of bitcoins, which means that actual bitcoins are held in Bakkt’s warehouse and will be delivered at the expiry of the contract. Imagine, if you are one of those bitcoin futures investors or traders, you may want to buy bitcoin contract at the lower price and end up with the higher price at the moment it's delivered to you. Well, if you win the contract.
Bitcoin may enter the recovery zones by the year’s end. So, buy more bitcoin or hold on until then.

Yeah, because we have to pay at least $9.99 to access all "pro-exclusive" articles.  - Hold on! This is for Crypto Trader Pros Only! -


Just read this news and its state; Even with today’s sluggish crypto prices, the SHA-256 hashrate has remained unscathed and continues to show persistent growth.
Full article (https://news.bitcoin.com/despite-lower-prices-bitcoins-hashrate-remains-strong/)

Indeed, "crashing" is too harsh a description to a dip which may be worse than before but definitely not as worse as a crash.

Well, the link is apparently a bait for the site which is obviously looking for subscribers. I din't proceed signing up. My sole intention was to curiously read another new theory or speculation about the price drop.

• Somewhere in August and September there is what the chinese call as Ghost Month. And knowing that these people are very superstitious even in business and finance, they observe so many dos and donts, during this time when they believe the gates of hell are open. But I don't think it could influence the market the way the huge drop happened.
• Same with Bakkt, it could affect the market but not that much. Not to mention that Bakkt took off in a low-key manner and with a very moderate volume.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

Gold hit 1800 in 2018 thus making it the most over valued asset and that time in same year bitcoin was recovering and still recovering. Just suddenly this week the Gold crashed hard and silver became the worst, So Bitcoin was not an exception the market thus crashing further more.

Some analyst at Gutenberg predicts that this year we will see bitcoin falling below 4000  usd, I personally dont believe this and dont want this to ever happen, but who knows..

i think i also heard that before but what i know is the year 2017 is the best year for cryptos because all coins are pumping that time  especially on the last quarter of that year  .  back on that ghost month that you guys talking about , that could be the other reason on why the price of btc and other cryptos are falling this month because there are also a good number of chinese investors but as soon as this month have passed, hopefully we can see a recovery again  .

End of the CME and CBOE futures, the Bakkt Fiasco and well the descending triangle and the gap on the chart... if you're looking at the situation in terms of trading perspective.

I feel the trading War between the US and China was the main driver of the surge in the Bitcoin price the last months this correction is healthy for the price if you're into this long term.

to be honest 7400$ is a great level if the price touch there again I will buy more.

Chances that investors who believes with this kind of superstitious things would mind investing around, with the bleeding that we are experiencing change everyone's position. It's needed to be assess and find conclusive things that affects the market situations aside from speculative opinions. if you have a long term goal this current market fall gives you bigger chance to invest with bitcoin and hold those cheap price to grab more.

This is not the first  time the price of Bitcoin has dropped and its not gonna be the last time.  What people need to understand is that, the rise and fall of the market value of Bitcoin is actually the nature of the bitcoin market and the underlining reasons or causes for the rise and fall are not really unknown or seen. A lot of people have their stories and theories behind this rise and fall.  As a Bitcoin investor, you just have to study and observe trends to help you know when to sell or buy to increase your proit portfolio and minimize your lose potential...

I don't mind paying for good content - makes me smarter

The article didn't write anything technical, just mention Baktts Bitcoin Futures and lack of much interest in buying cryptocurrency, but we have a mass of persons signing up for new wallet daily and many seminars are going on. What is happening now is normal. 

@cryptomarketyourself You don't need to post several posts in a row to say that, it's forbidden, one post is enough. If you want to save us some bucks as you say, you should copy and paste the full article here...

Yes, thank you for the summarize, maybe next time a good thing to cite all the article for better reading comprehension. ;)
So we can judge whether it has good content or just a vaunt looking for the subscriber, as we can get such content on many webs and there are tons of free article out there.
However, by the point "September is typically a bad month" makes me wonder, what is the correlation? it's not so relevant to be claimed "pro-exclusive" imho.
But, I do agree regarding Bakkt thing, like many other free articles mentions.

Bakkt is actually doing very well considering it is brand new and less than a week old. the volume has been high and growing. that has nothing to do with the price drop. it was purely a small panic sell followed by a ton of FUD and manipulation to trigger the subsequent sell offs at larger scale to cause such a gigantic drop.
it is also another step in the accumulation phase to push the price low like this to buy cheaper coins in that short window of opportunity before the price jumps back up and enters the bull run.

@cryptomarketyourself

There's no point in saying September is usually not a good performing month. Even if that were true, it would have been in the 5-10% range.
It doesn't explain such a high drop just in some hours. I didn't really follow the news this week except here but I find strange that the same week:

A) a group of media outlet started to spread the FUD about the network hashrate. Clearly to manipulate opinions
B) Bakkt finally starting after many months of speculations.
C) A point @Carlton Banks raised in another topic with what happened to the mempool just before

Bakkt as an event is a flop! As for what we are really waiting for from it (the mass investments) it will take months to see a result (either positive or negative). But an interesting question is:

Could it a manipulation against Bakkt? or is Bakkt itself a point of this manipulation?

@Herbert2020

Not difficult to make higher, when the previous point is zero  ;D

I think it is because Bitcoins was up and reached a all time high for this year apparently and people feared that it will go down too soon therefore they encashed also at the same time it was static for a while because everyone was expecting a good return but then again.. people don't have patience .
Unfortunately if we could have just waited it would have gone up !

It’s hard enough to explain such a bitcoin volatility. But after all other coins always follow him and only a few can show a short-term price increase. I think this is an ordinary speculation to eliminate hamsters.

The purchase of Bitcoin takes place on the Bakkt platform and the sale on exchanges that greatly lowered the price. I began to realize that Bakkt was useless and even hurt Bitcoin, right?[/list]

I saw that after Bakkt launched in the past 23 of September 2019 many were affected by the sudden collapse of Bitcoin followed by most crypto or altcoins, many were disappointed and many more took advantage of buying potential coins while lowering prices further that's bitcoin. But for me it doesn't matter if you really believe in the coins you hold today.

Before jumping to a conclusion on bitcoin crash reason, we need to determine what was the expectation from bakkt ?
Many people thought that the bakkt will launch , the marketcap and volume of bitcoin will increase enormously as institutional investors will enter in to this market. Yes, they will invest but no one said that it will happen on the first day or the first week. We need to give some time to this new platform for bitcoin futures and only after sometime we may see positive results for crypto currencies.

I don't know if that's why Bitcoin is crashing but if you look at the chart it went up a lot recently, so maybe it makes sense that we need a price correction before we go to the Moon!

Isn't it great? We can have all those Bitcoins those weak hands sold. That hashrate drop news one of the reason why whales is able to make a move now and those who bought the news will regret it later on.

Although the news of Bakkt is hyped like a madman and died out eventually, in the long run, it will help with the adoption of Bitcoin which will cause the price to increase again.

All are listening the market so went up slowly and it looks gradual hype on every month. But current dump is unexpectedly happen so all are still waiting for gradual pump. Bitcoin will going to moon and when it will raise gradually is the more important statement. Traders are little drawback in current scenario so once it will forward slowly again everyone believe it will going to moon.

I think the current situation is normal for cryptocurrency prices, especially bitcoin.  This is a natural market reaction after a while in sideways conditions.  There will be some improvement after the dump, and I also don't believe that bakkt has resulted in a big price reduction now.

There is nothing in the article that clearly explains why the price is dropping, and about the September issue, nope I don't think so in fact September in the year 2017 is a lucky month for me this is the month of that year where Bitcoin is peaking and I guess it's for us all who experiences the peak in 2017, maybe it's about the Bakkt not getting acceptances from holders, but it still has a future, it's just a slow start. [/list]

The fall in price has nothing to do with the Bakkt, this has be re-occurring for years and volatility is part of the crypto game. If you indeed want to be successful in this space, you need to stud how to protect your profit

Though this thread was made last september it kinda made me smile. Anyway I dont believe the drop last september was really caused by those listed by the author. The real reason for the drop was of course somebody who has a huge asset sold his bitcoins in one of the exchange. There was actually a thread talking about that last month. But there was really nothing to worry and though we dropped below 8k$ but right now we are back above 8k$. This is just a normal flow of the market and there is nothing to worry.

Also learn to be patience and we know bitcoin is the best coin in the market yet its volatility is also high. We can’t say that September is the reason of the dump because its not a ghost month and we can’t say that BAKKT is the reason because we wait for that. Hard to explain the dump right now, don’t focus on that and start looking forward for the up trend after this downfall.

Bitcoin does its own thing, often not inline with predictions. BAKKT will dubbed to be of huge benefit to the price of bitcoin as it was supposed to bring institutional funds to the space. It flopped. We may have to wait for retail investors to gradually adoption bitcoin to a larger degree.

Is this a Baakt promotion?

Okay, why tell that back is not doing well and yet bitcoin is falling?
Should be the other way around right?
Baakt rising means there could be sellers of bitcoin in exchange for it. Transferring their money to produce a hype in exchange for profit in the long run.
September is a good month. Some may have received their bonuses to buy bitcoin and also this is where people spend more money.

The word crashing is just too much to describe the price. It ain't even crashing. Yes it's dropping but it's moving slowly.
Well regardless of the reason why bitcoin's price is decreasing, it's just normal because we all know that bitcoin is volatile. If it's about September (well what's with September why it's a typical bad month?). Or if it's because of Bakkt or not. It's not like we're surprised about the movement of bitcoin.

People will never get tired of predicting and speculating and giving reasons why Bitcoin is going down up and down, it's a never ending cycle of theory, the discussion and the buzz never ends, Bitcoin is now down 8.54% the lowest in a month, now let's see what the theory or reason would be this time.

Could be one of that reason but for me its clearly a price manipulation at big levels in order to gather a lot more bitcoins from those who don't want to sell it so a panic dump would make them think again. What we see right now is a panic sell from most of the traders and holders and I bet the whales are so happy with the effect of this dump who is not gonna end until the end of the month. Also the conference with Libra's project can be a reason too...because it represent a problem for the monetary system and banks system and they are all against cryptocurrencies ... ( at least his is what I'm hearing in the live video ) .

The fact is that for the whole of October in the media a lot of negative information appeared regarding certain cryptocurrencies and new projects, which very poorly affect the pricing of even the most promising coins.  I agree with your opinion that this situation was provoked specially so that big Whales and speculators profit from the panic mood of cryptocurrency users.  I am quite sure that by the end of the year we will have the best indicators in the market and the current situation should be corrected within a few weeks.

The bitcoin price is crashing because there are many things going on within the cryptocurrency ecosystem from the Bakkt launch dump to the Facebook Libra effect. During the months of April to July, many people bought bitcoins thinking the bitcoin price will get to new ATH because of the Libra coin and Bakkt launch. with all that gone here comes the dumping part, these are what is crashing the market right now.    

Let's hope that by the end of the year, the cryptocurrency market capitalization will be at least $ 300 billion. I don’t understand how the Whales manage to reduce the price of Altcoins in such a way. Will coins really cost almost zero dollars?

wow that as 3 reasons why they are or why the bitcoin price is getting the negativity! but to tell you honetly!
We only have one to hold! that is halving and we dont have the right track of price but the exact meaning of we have the man!

Trust me, the market will not collapse just because Libra and Bakkt created Bitcoin's bumping. There is such a group of people called Whales who will not allow the collapse of the crypto market regardless of BTC ecosystem failures. Now the bear market is approaching and it’s OK, I’m sure that people will continue to buy Bitcoin further.

I am interested in your opinion on the launch of TON and how will this affect Bitcoin?

Bitcoin drops in price because it is a fairly expensive cryptocurrency asset. If you compare directly with other coins that go below the TOP-20, then for a small number of Bitcoins you can buy almost all of them.

Today the price has crashed low to $7500, this is something unexpected as the market have gained good momentum at $8000. There is no perfect reason behind the price crash. Whenever there is price crash, it gets attributed with something happening parallel to the same. This time some controversy is happening with Facebook and its libra.

It's normal price crashes and pump I think we must have gotten used to such things because these have become too usual in cryptocurrencies. I think just like there are no major reasons of pump same is the case with dumps. The charts look hilarious as we have just experienced a death crossover which means 50 day moving average has intersected 200 day Moving Average from above this is a pretty bearish sign and I think this is just beginning of a huge downfall which could follow.

The is no enough and satisfying reason why bitcoin is crashing; no one can really explain why it is falling. Thus, there are only different assumptions why. One of the assumptions is because of people who keep on saying it is scam; this affects the perception of others; this tends to not to buy it at all.

Speaking of Bitcoin is crashing. Recently dump around $8,000 down to almost  below $7,500. I think the reason behind is about the project of Facebook, about their Libra project since it is started to make noise especially on Congress. This recent news is also for sure Bitcoin is affected ; Congress isn’t buying Mark Zuckerberg’s pitch for Libra (https://www.theverge.com/2019/10/23/20929313/mark-zuckerberg-hearing-congress-libra-calibra-facebook-maxine-waters)

Right now the price of Bitcoin is at $ 7,500 a very important decline, support of $ 8,000 has been lost and perhaps that trend continues, many whales have been making large movements and this tends to affect the price, pessimistic forecasts say that BTC It may fall this year between $ 4,000 or $ 6,000, hopefully it does not happen and the price starts to grow again.

If they do that then they will be added to the numbers of Bitcoin supporter who decide to quit Crypto for good making the people who supported Bitcoin keeps on diminishing therefore instead of pushing them away out of crypto then why not just encourage them to keep on holding as Bitcoin is has been in this situation so many times before but still the market survived.

I think there is a lot of bad news that makes investors disappointed with bitcoin and finally they prefer investors to secure their assets because they no longer trust bitcoin, so that the current conditions at the exchange place are falling very badly.

I don't think that investors no longer trust bitcoin, they just secure their assets and I think it is not the main reason.
There's a lot of bad news is coming after another regarding bitcoin and it highly affects the whole market. Investors are still waiting for the right time before they invest or some of them are still not making a move since its price is still very low.

Yor have recognized one of the reasons that are the month of September,  I think you don't any idea what happened in 2017, that was the time also September so it must be the invalid reason, So other two mentioned reasons are also looking silly because you don't expect too much from Bakkt, that platform has launched in recent time I think it's too early to expect from this project, I don't think that Bakkt is responsible for this price falls, I believe that Bitcoin is almost in the track, 8k is not very much a low price if you compare to the current global economic situation. so it doesn't matter at all, Over time, everything will be okay.

There are many reasons we haven;t maintained the summer highs.

The #1 reason would be the non physically delivered futures. They can bet on a low price while not dealing in BTC at all. In essence they are betting the price will go lower while not buying in...which afects our market negatively as we continue to wait for the larger investors to pour money in.

#2 We are cooling off until we ramp up to the halving. The year cycle mayu just be cooling.

#3 random bits of negative news overshadowing the wider adoption. Combine this with bot trading and you get massive sales.

#4 The libra project is an immediate stain on BTC and as long as government officials, regulators and media can they will smear both Libra and Bitcoin.

#5 whales are using every tool in the book to drive the price lower and buy more while also trying to shake of normal people like you and I.

That's all I could think of for now.

It seems to me that growth stimulants just ended this year for Bitcoin. Everyone hoped for Bakkt, but it was not a panacea. Now we need to wait out the bear market and I think everything will be restored around spring, so dont worry and HODL

The reason why bitcoin is crashing, there are several factors causing it. Right now bitcoin is priced at $ 7400 and hopefully we
hope not to go down again. I also hope this support point is able to survive and not collapse down again. One of the reasons is
because many bitcoin holders who are frustrated and stressed about this bearish market and then decide cutloss so as not to
lose money, but instead causes other bitcoin holders to panic sell and this makes the domino effect.

Let's just hope that you're wrong people are now scared of the price ,
But I still believe that it would go back up before this year ends and I think that it would continue to rise because of the 2020 halving.
But who know's maybe it would continue to fall then it would soar high to the moon again.

They first disappoint most Bitcoin investors had came with Bakkt.
Most people held on to their Bitcoin as they expected it to increase in price because of the launch of Bakkt.
However, price went down, a lot where confused. Presently, I think people are selling are panic selling. They lack patience to see what the ending of the year brings.

I was waiting for your response after the flash crash today, the same happened in October and the market is struggling to move forward, is it because of the past historical data that the price is going on or is it the natural trend at this time  ;). Now we do not have any negative news other than the quantum supremacy news and the Libra (Mark Zuckerberg) being scrutinized by the congress ;D.

Yeah back when bitcoin pumped to $20,000 September was a great month it rised $7,000 I do not think bakkt has anything to do with it. There is always a decrease before the prices rises alot. I think we are soon going to have a repeat of 2017! We shall see!

I think there is still bad news circulating so that it can make traders really panic, I also feel surprised why it can fall so deep that at the beginning of the year there was a very good event from bitcoin, bitcoin prices should slowly move up.

As we can see right now in bitcoin price it's not really easy to think that it's crashing but still many is hoping that bitcoin price will survive this situation of downtrend. It's hard to see the price like this especially to the people who buy in a higher price but we know that the always volatile sotge best way is observe the price in the market and don't to emotional at this moment.

Yes. And October also seems to end with the same result. No significant change and Bitcoin is in bearish.


Indeed. I assume it is still no positive impact of Baakkt so far. It absolutely brings nothing for the improvement of Bitcoin price. Moreover, Libra contributes to making a bad trend on crypto market. I guess many investors feel doubt and disappointed with the progress of the Libra project.

Bitcoin price is still stable at 7-8k, which is a good thing for investors in 2019 with many fuds, legal and government barriers. Be optimistic and wait, BTC will soon reach unprecedented high value!

The price of Bitcoin has fallen considerably and it seems somewhat difficult that it returns to recover its best values ​​for the range of $ 13,0000, although that possibility exists, somehow the market has panicked and the support points have been lost, we'll see what happens in the coming weeks.

True its not about September as we search 2017 sept bitcoin price are so bubble.
They think that BAKKT affected bitcoin price but as of i am not sure also because we don't know about what happen next.[/list]

Basically the same thing that cause the Wall Street crash. Bitcoins value isn't really tied to anything. You can't buy anything with it. The only reason it has worth is because people want it. If everyone sells at once the price goes down. This panics everyone else who also sell all their bitcoins. Value goes down

Thereby the real answer is anything that would tempt or cause people to sell it at once. economy tanks and people need money? They'll sell their bitcoins. Bitcoin spends a little too long going steadily down? people will sell. And once people start selling the price will drop, meaning even more people sell. But the horrific part is people are buying bitcoin as an investment rather than an alternative form of payment.

What this means is that people will only keep buying bitcoin as long as its value keeps rising and they think they can sell for higher. But once the increasing valuation will slow, there will be a massive sale of bitcoin because people will try to move their money. The price will drop drastically and the people who haven't moved their money will lose basically their investment.

Still the reason since it's been treated as investment form of assets and not being used to serve it's purpose. Better not to be affected of any cause
of the this market crashed if you do invest to gain profits then wait till you achieved such goals. Forget being negative as you will keep losing your money while you are inside this investment venue.
Bitcoin still on a speculative time, there's still few who adopts the system but who knows what will happen after another 5-10 years. Those collapse
on it's value cause by compound selling pressures both from whales and weak holders.

Yes, that quantum computer was built by google is something unique. but it threaten bitcoin? I am not sure about that. maybe your assumption was right but blockchain developers for sure already aware about that, hope they have something to prepare for this new system. I still admire the blockchain system, surely they have idea how to improve their system more than google's new system.