Bitcoin Forum

In the present days the BTC market is going down and there is some fluctuation in the price but that is just to test the patience of the traders and the investors because when the big fishes wants to invest the price just go down and they buy the BTC at low price and when the market recover itself and come to the original state then they just dump the coin and make a heavy profit.

I would suggest that you keep a strong patience and set tight. Market will recover itself.

Do you think that i am right?  Go ahead and share you thoughts about the current market situation and your point of view.

Everything you say is correct but other than that we need to understand our capabilities. Yes, the market will recover in the future, the problem here is. For how long?
can you afford to hold it at least let say a year? if you can afford to hold it, then why not? how about them who can not afford to hold it at least a few months?
even if you have a lot of patience, you can not deny the fact that you need money to pay your bills and needs. That is why, before holding it and commit ourselves into it.
we need to understand the consequences and know how to do if the worst comes.

There will always be market fluctuations and manipulations. Traders and hodlers must get used to them to avoid getting trapped in selling and buying too early. Keep your cool and try not to stress yourself too much.

I'm not surprised by the decline in Bitcoin and other altcoins. This is purely a true crypto market. Anything can happen in this field, so when as before decline occurs. So that's where you take advantage of the situation to invest, but this is full of risk. If you can't, then don't do it and look for another way.

Do you even understand how the market move and really think that the price just go down when big investors want to but bitcoin?

Keep in mind that the market moves depending on every trade.

Bitcoin made great rally in couple months from 3k to almost 14k ($13500) which is more than great actually some people still disillusion about astronomical number of 30k, 50k, 100k,... This is not gonna happen any sooner man.

BTC need to settle down, test some strong support areas to build up a strong foot before starting the next wave.
Markets, any financial market, needs patience man, that's what most Lambo Kids lack.

One thing is sure for me, EVery big rise in the price of Bitcoin has its slides before it happens.
This is always on the graph for many long years. that is why i love the fall that just happened and i bought some BTC to hold.
50% profit is not a bad idea and it is easy to achieve from 8.1K bought to 12.3K sell. that is a plan for me.

Market is not only depends on every trade, Because once you trade it will move trading sites and finally it was hold wallets. But traders are maximum holding the trading sites and every situation they monitor the market and move to best platform. Many rumours are spread in this forum so we don't believe any other thoughts because clear situation is prove the further pumps and dump.

It was a pure price action breakout, BTC got stuck around 10k USD in a tight range for over a few weeks.

In a highly volatile asset class, a breakout after such a tight channel is very likely in either direction; there is also some short term

manipulative pressure on the price by some big actors to collect it cheaper for the upcoming 2020 year for which the outlook is very bullish.

now you are too late. the bitcoin market is not going down. it went down already a couple of days ago and it has been over ever since. price is now consolidating and rising a bit even with the current price being $600 higher than the bottom that was reached.

it was a good thing though because it helped speed up the altcoin dumps and also provided a good opportunity to buy bitcoin cheaper.

Rapid changes over 20% are common for crypto markets. Bitcoin and other cryptos have always been very much unpredictable.
The bitcoin was stable around 10K for some time and the rapid 20% fall made many of the investors panic but what we shouldn't forget is the first two quater average of bitcoin was much lower than 8K and it was a long pending correction. I'd call any price below 8K a call for bitcoin at the moment.

Forget about the big fishes, just relate market prices with other things. If they are so scary, we should not trade. The price will surely come back one day and I aslo think that it will happen quickly. If you agree with me, start collecting from cheap rates, if you was late you already lost $500. IMO leave the uncertainties on the edge, trade on your own knowledge.

Which things to relate ? Big fishes are doing valuable capitalization and daily trading turnover as well. It is a good idea to follow some alerts and crypto movements from big financial whales. There are a lot of Telegram channels with such information today, but you should be like a fox in the forest to see that important signal  :) 
As for me, it is just an another pump and dump of bitcoin, we may see real rally just in winter, because of approaching reward halving.

Yes, you are right. There is nothing to worry about, and the price will be back soon. All you need to do is patient and wait for the recovery. If bitcoin is down, that will be your chance to buy bitcoin although you already have bitcoin in your wallet. As long as you can buy bitcoin at a low price, you will see your profit will become bigger once the price increases. Today, the bitcoin price started to increase again after the price was down for a moment. I think it could still grow in this week so we can wish that will happen soon.

if this price reduction is only to test patience, I think it is very successful. I'm sure, when the price of bitcoin fell to $ 7,000 to $ 8,000 a few days ago, it made some people sell their assets. for myself, so far I have continued to hold the coins that I have, but due to falling prices that occur, I can not stop to check the price of morning and night. Well, this is really hard, but I will be patient in this matter.

We are all in a wait and see mode and majority are hoping, the price is still in limbo it's been months since we are trading at these current level
all hope fro another all-time high is not going to happen this is just my opinion I hope I'm wrong, people are predicting that 2019 is going to be a great year after the bad performance of the market in 2018, guess we'll just have to wait for something great to happen next year.

Great, leveled insight. You sound like one who's experienced in the field of digital currency. Good for you. With my having experienced countless waves of Bitcoin-Altcoin market trends, I also express these being times that are considered normal, the market following the continual long-term growth trend. As a user, the most valuable choice to make is to be patient. It will allow you to see everything take place before your eyes.

-Jan

Everyone has a different view of the bitcoin market, but in general view, everyone says the same thing, be patient in dealing with market situations it has to be, but what we have to understand is that the market will not recover by itself, if there is no cause and effect that happens in the market, so traders and investors greatly affect the current situation of the bitcoin market recovery.

some experts predict bitcoin will fall at least at the level of $ 7,000, and that makes us worried,
but there are other experts who have a prediction that BTC will go up to $ 9,000

Recent drop in prices of Bitcoin and other altcoins are generally sell-offs of holders of those coins. News suggests these drops are caused by the 40% drop in hash rate of Bitcoin, which is what some websites have reported. This hash rate somewhat determines the security of the blockchain. Of course, panic selling is part of these news and that's what we see today. Still be optimistic as the price of Bitcoin stabilized to around 8.2k USD and maybe it would reach the point of return to its uptrend.

The market will recover thats for sure, if we track the history there are more worse cases compared to whats happening now.

Lets keep in mind that this situation is just temporary so take advantage this sudden drop and buy additional bitcoin and hold.

Everytime the market is declining I dont monitor often to refrain myself to sell. In times like this we have to think positive because its a way to survive.

Your thought is right of being patient and holding tight at these times. It was proven that this strategy to be effective, I've been a holder since I've learned from my mistakes and I can say that this is really working when the market isn't good for most. The sudden drop of btc can't stop us, the holders to pursue our plan of holding. Your worst enemy is losing your patience and when you take the market anymore because you are looking to the daily charts.

There were so many sudden drop in the bitcoin history price and chart.
It is normal and it is a good thing, the drop indicates a near rise of the price.
This is cause by manipulation by many whales in the community.

You can be patient or choose to invest more because the current price of Bitcoin is very cheap and it will be good for the long term if the investment demand increases in the near future. I often choose to trade margin during a time when the value of BTC drops unexpectedly because it is an opportunity to earn the fastest profit without having to worry too much. In fact, many other investors also choose this trading method because this is the strategy with the highest success rate.

Of course not everyone can do it because if you don't have good mentality, you are very scared and this will not be good for your profits. The best advice right now is to stay calm and wait for the next move of the BTC

from my personal point of view, altcoin and bitcoin prices are currently experiencing the worst price declines during 2019. but I think this fluctuation is normal in the crypto market and this depends on how you respond to the current market situation, about patience or choose with other options. but I'm not worried because I'm sure the market still has a chance to rise from this downturn.

As long as you can stay calm, there's nothing to be afraid. The market will be recover and back to the higher price, but before it's happening, we need to enjoy the ride and feel the bear market in a long time. We are sure that when it's recovered, you will see that your money will be back and you will make a  bigger profit, so you don't need to worry. Just hold your coins, especially if you already have bitcoin, never sell at a low price, so you don't lose the chance to make a profit.

It is not that easy. Those who panic at times like this have their own reason; they might have huge loss with their investment. We cannot blame those who wanted to "save" what's left for them through selling their holdings. The market situation is just that stressful to see knowing that the situation last year is the exact opposite. Investors might have still be in shock of the sudden downfall not only in Bitcoin's market value but of the whole cryptomarket. But I would agree with the idea that holding is the best thing to do right now.

BTC will return to the market. Recall that BTC has had a journey of only $ 3k up to $ 11k in 5 months. Looking further than we've ever seen in BTC history, it has reached $ 20k. So we have no idea what the future of BTC will be like but in my opinion $ 50k is not a problem.

I've known people who keeps their patience and faith with them after the 2017 bull run, BTC market fell and their BTC slept. I think I can agree with your sentiment, its natural that bitcoin market will drop because it's not always how we think things will turn out, and just like in BTC, things won't go their way for some time too.
           Entering crypto space and choosing BTC, you should be accompanied with patience, practicality and ability to weight things. Don't enter crypto space if you get easily swayed with your emotions and makes impulsive decisions for every unfortunate event that may happen.

You have to be focus with looking for long term investment instead of trying to sort out the market while it's falling in value. You can manage to take things in the right position when you see the assets you hold is declining., As long as you have good knowledge it will let you to take any opportunities. Don't lose hope just keep trying and believe that it won't let you down, keep holding.

You are absolutely right.

Anyone in the crypto game long enough should know that these dips are just good buying opportunities. Crypto is here to stay and all we need to do is be patient. The upcoming halvening is also a good sign that value is about to rise. Just hodl and be patient!

what you say has a point too. indeed at a time like this we must be patient and wait. selling is not the right choice, still maintain the portfolio until the end. btc will take off soon, I'm sure of it. no later than the beginning of 2020, we can already see bullrun for the market. and at the beginning of Q2(may) BTC will be halving. because of this I'm sure the market will recover.

The sudden drop in BTC ain't news for most of us as this always happen before major rise. Well anytime you see the market all in red and people in fear this is the perfect time to buy bitcoin at a cheap price. Know one knows when the bull market is really going to set in so always take the advantage of a dip in market and accumulate as much as you can!
 

author you are absolutely right, now it is extremely profitable to sell cryptocurrency. if you have money problems, I recommend all ways to save funds in BTC for a year or two. and then there will be happiness for those who do so

Dang, this recent drop stinks. Actually it's good to buy more Bitcoin in this moment because the price is lower.

Exactly. Such changes have been the story since the beginning of crypto world. If bitcoin is facing downfall, it is actually a sign of its near future rise. This is not the time to condemn bitcoin or worry about anything but to get as much bitcoin as possible. Most probably, Bitcoin will gain value in the last month near Christmas or New Year. I bet the expert traders would have already bought good amounts. No one misses such opportunities.

You are saying if this decline is a short time impact caused by BAKKT but the price of bitcoin doesn't even show a signal if that will go back again at the top.
You can say that so many times whatever you want but can you please stop to make another repeated comments from time to the time?
look at the fact and take your own analyzation and then everyone has a different opinion to call where is the right signal for them to buy bitcoin.

Coins will have a price as long as there is a demand for them. The price of Bitcoin doesn't matter to most altcoins.

Yeah, that's pretty much what is happening. The market always recovers, all it needs is time. The problem is that newcomers to the crypto industry tend to panic and sell as soon as the prices start going down. Senior members have been through a real cryptocalypse more times than they care to count. New people are easily tricked. Unfortunate, but true.

Thing you said are true. But question that come in the mind of investors, how long investment to kept ? If you have a bag of dollars in your showcase then you might keep investment for a year and more but small investor need to look at market trends (https://www.coincurb.com/news/) before taking any step.

For now patience in the world of cryptocurrency is indeed being tested and for those who are good at using the situation then it will definitely get satisfying results, now is the time to buy bitcoin and altcoin that already have potential and we wait for sure there will be a surprise that is very unusual for us all, then the important thing is now sure and be patient all will be beautiful in time.

Bitcoin price movements are very difficult to predict. There are no definite positive and negative sentiments and can move prices. There is only demand and supply with limited supply. But I am sure bitcoin will find its way back to its highest level

I look at bitcoin going forward it will be good right now it is going down but I bought BTC and will hold for the next few weeks many people say that BTC will also recover and our patience will be paid with profits.

For an investor, the fluctuations are their advantage to buy more bitcoin. It gives them the benefit by waiting for the big pump and sell their bitcoin. There are some reason why btc lower its value because of the big effect in the news which includes bankruptcy. But as for the invetors of the bitcoin they perceive these events as proof of maturing market so it will gonna recover soon, this is nothing new.

Considering that price can not always go in one direction, I hope it may go up.
Bitcoin is more innocent than others, because no edge intervention. But, on the other hand its a good chance for manipulators whose presence does not please us.

It's time to stop gambling money or HODLing. it's time to looking at prices all day by building a rock strong winning strategy and start making profit by sticking to it. The key is to do this without emotion as this is the biggest self setback as a business person. Some people are still waiting for a correction to start buying bitcoins, ethereum, EOS or IOTA, others are waiting for a major bull run to start making profit but those approaches are wrong and my portfolio is a testimony to that. I actually may not be as good as i sound but i suggest finding a solid method and strategy for all who seriously want to make incredible profit from bitcoin without having to just buy and hold which is easiest to do.

Actually Crypto market most relate to good or bad(FUD) new, During FUD news BTC price drop and in good news always go upward so there are some FUD news due to which it happened.

these are simple manipulations of people that suit large players and earn on this news. if we learn to use the news we will earn very good money

Sudden price drop at BTC is common at crypto marker. It does not surprise anyone anymore. If there is a uptrend at the market, it will be wise hold your BTC strongly when there is sudden price drops, as the market can recover itself in a uptrend market.
Bu the way, it the market is bearish, there is no senses to hold any coin strongly. You sell at resistances and buy back at support for increasing the amount of your portfolio.
The important things here is if the market is bearish or bullish. Some can call bullish from 3.2K to 14K and now its at correction phase.
Some can call, after 14K it is bearish now and lower prices will be tested.
I am thinking uptrend is going on and it will be wise if we hold our BTC strongly.

Its always happening like this for last few times. Crash dropping in btc which brings the whole market down. And in few minutes it recovers to the maximum extent. Not sure whether this is any bug or somebody doing it intentionally.

Many literate people predict a huge increase in the price of bitcoin in the near future.I basically never believed projections,but this time I somehow thought these statements to be true.So really all investors need to be as patient as possible.

Yes. When talking about the price of BTC being dropped, I have no doubt the price will increase again. Because this has often happened. But today's obstacle is not the BTC, but the ALT price. They are difficult to grow if it has dropped. Most small investors hold ALT, not BTC. Because investing in BTC with small capital, it will be difficult to get profits.

Do we have to expect any bug in crypto? And also I can't see that whales did this.
This is a usual crypto event and nothing has to blame cause we know that nobody wants to be like this. Though we think there is a market manipulation but I don't think so, and I believe that we are still in the decentralized form of market. It is something the market needs to breathe...

There might be no current reason why there is drop in crypto may it be personal reasons of holders. We should keep it unless we really need the money now since BTC have limited supply once there will be a big adoption we will sure earn a lot from it. These is the risk in investing even in any industries. We must learn to analyze and predict it, if our predictions went wrong we must not lose hope even the popular people in cryptocurrency prediction fails.

Based on what you say, I think that you put all of your money into cryptocurrency because you said that "we should keep it unless we really need the money" it is not a good sign of being a good investor because a good investor only risk the amount of money that he afford to lose and he have other type of savings so he doesn't mind losing money in his investments.

Some investors will do that, especially for the investor who doesn't own so much money. They need to survive in any conditions, and if that means, they need to sell some bitcoin they have to survive, they will do that. We need to manage our funds regarding buy bitcoin because we need to think about our daily needs, and if we use all of the money, then we cannot survive for our life. But bitcoin will always up and down, and sometimes, and the crash will happen to adjust the price so the price can increase higher. That always happens from time to time, so you need to be ready.

We cannot predict the future of this market because everything happens very suddenly and will always make us face a lot of risks when investing. I think now is the time to wait patiently for the next phase of this market and not to rush to invest when the market is not clear. Now is the time to add new knowledge and to attend many events related to this market to have a better view of the current market.

The market is very easy to manipulate and there are not many large investment funds involved so this market will not make you good profit this year.

Of course, there are people or companies who cannot afford to keep Bitcoin or cryptocurrencies for a long time. That's why we see in certain periods a drop in prices for Bitcoin and Altcoins.

Volatility is why more experienced traders are inside this market, there's no certain reason why the value is declining same with any reason why the market rise high, most of the time it's about speculative guess. You need to be more careful deciding to place your position, not because there's downfall and it's tempting to buy in, consider also that the chance of getting more lower is present with volatile market, don't invest if you are not emotion free. Patience is  very important without this characteristic, you are risking your investment.

We have seen the dropped in the price of Bitcoin but, that shouldn't detach us from the believe we have in Bitcoin. Its very clear that; whenever there is a drop in the price of Bitcoin, many weak hands always get into the wrong part to further cause damage to the drop by panic selling out their portfolio's. This should be discourage among the cryptocurrency enthusiasts.

Patience is the very best option for this ugly trend brought to Bitcoin by the whales or from the market manipulators. For those who have been with Bitcoin, they should understand by now that; any drop from Bitcoin price will always give a room for correction and after that a rise in Bitcoin price.

There is a speculation that saying this year Bitcoin has lost the popularity. The most popular one is Tether(USDT) and somehow Bitcoin lost it and it leads to price crash.
But, I think it's just the matter of time that Bitcoin will regain its popularity once again.

It's okay, this happens all the time with Bitcoin and will happen, just the manipulators changed their plans and they decided to withdraw some amount of Bitcoins, so it's just a matter of time before these same manipulators again will invest their investments in Bitcoin, it always was and will be, because this is the strategy of these manipulators, they simply scare ordinary people like us and make money on it.

I think investing in a bear market is the best opportunity to earn the fastest profit without having to wait too long. During the past time, the value of Bitcoin has always been very volatile and this has made the psychology of investors greatly affected. In my opinion the value of Bitcoin will soon rebound if you have great patience in the market because the investment demand is on the rise in the last few years and people are tending to keep Bitcoin as an asset. There may still be a lot of risk, but this market is still the best choice.

Yes, I agree with your opinion that when BTC declines, big investors will take advantage of buying a lot and when prices rise again they will have more profits, patience and calm. It is essential for us to be in this situation. Without patience we will lose the trend in this market situation.

It’s important to learn to understand how a major player thinks. as soon as you learn to act with them at the same time, you will be able to earn good money

Bitcoin is still popular and people investing in it more than in altcoins. I think that now it’s important for us to restore the reputation of altcoins in the eyes of investors. for this, projects should work well with their product

From my personal experience, I think that the price of any altcoin, including bitcoin, should always be different. And it simply will not be able to stand still as the market is always unpredictable today the price is high and tomorrow the price is low. And when large deals occur, the price changes immediately. So Bitcoin will always be in price and will gain momentum.

Now everyone is afraid of volatility. many people understand that the price of bitcoin will rise, but the new investors who come to the market say that the volatility is too high

Yes you're right, patience is the only solution with this current market situation, I believe the market will recover. While waiting to rise up in the market, it will be great if we buy more cheap cryptos, it is opportunity to us to earn more profit.

There's nothing new about dropping of BTC i guess it is normal. Patience is the we need, in terms of selling tokens, you only need to do is to wait for the right time. Because way back 2016-2017 that was the time BTC is good but when the time scammers entered the forum a lot has changed and I think that is the reason why BTC drop again, that time i stop doing his and focus on my career. Letting go the forum is really hard for me because it helps me a lot. But again i am hoping to earn again here yet i still pursuing my career, just need extra income. Hoping that IEO will help us.

patience and smart investing. if you invest in worthless coins, no matter how patient you are, your patience will not bring anything interesting

I think some group of big traders dumped the bitcoin price so they can have a bigger spread when it recovers. We all noticed that btc always fluctuates from $8k range back to $10k so I think they have done a great timing to dump it much lower.  But now, I don't feel any excitement when things go sideways for many months and also the hype on Bakkt does not even contribute to the price going up which makes me more worried in the next months.

of course, you can not make profit in worthless coins, you will lost your money at the end of the day. It's better to invest in the top coinmarketcap so it's really worth to hold for long term.

A decline and an increase in prices investing in exchange is common because indeed every buy and sell transaction btc greatly affect the movement of btc prices in the exchange, so, we do not need to panic if suddenly the price of btc has decreased because at other times btc prices will definitely return rising, one of the advantages in investing in btc or alt coin is because of its fluactive nature, so, it is very difficult for us to guess when there is an increase and decrease in prices. besides, btc is a good asset to be stored for a long period so we really don't need to panic when btc is experiencing price drop right now.

Every investor needs to know that the cryptocurrency market is volatile, and most especially traders, and this volatility is what most traders that is good at trading has used to actually make some benefits, because without the volatility , there will be no entry or exit point.

The most important thing is that we have to just ensure that we invest on some quality coins like Bitcoin, coins like Bitcoin, no matter how much it goes down in price at a time, there will always be a recovery time, so every dip that we buy in Bitcoin is always very worth it as there will always be a rebound to make the trader have some profit. From what you have said, what i can also point out is that we should just try as much as possible to be very patient in our investment and trades in cryptocurrency.

The launch of the Bakkt futures trading platform could contribute to the fall of Bitcoin. During the first week of the platform’s operation, only 623 futures contracts were traded with a total value of about $ 5 million. Obviously, these figures do not justify the high expectations that market participants placed on Bakkt. However, I guess, it was just the start, and Bitcoin will be interesting to more investors soon.

BTC is always the king of the market.  To be honest, BTC has a lot of good projects in the future aiming for a good price.  It will recover again.  For me, I'm glad BTC fell because it made it possible for me to buy it cheaply and wait for the next bull run.

if the market is like this for a long time, will you still buy BTC? try to analyze the ability of the market first before buying so you can get the lowest price to buy your bitcoin.
bitcoin is now falling deeper, and of course, it makes panic bitcoin owners. although sure there will be an increase again, but with the decline in the price of bitcoin, it will affect all assets in trading on the market.

Even after all the correction, BTC is the best performing asset so far in 2019. People tend to compare BTC's performance with BTC itself. You can't expect BTC to give returns like 2017. But try to take profits as it is still pretty volatile. As compared to other traditional asset, BTC is better to earn decent returns that too in short interval. Yes, market will eventually correct itself. But rather letting your money sit idle in a trade, it is always better to take the advantage of the trend whether it's bullish or bearish.

well, because everybody was like "the price will go up because of Bakkt launch!!"
it was clear to the institutions that if they drop the price, it will shake people out
thats investment psychology

Yeah the duration of holding will depend on the coins you buy, if you buy coins like a small altcoin, then holding and being patient is not the right thing, we know the condition for altcoin when bitcoin bleeds right? you have to sell when the opportunity comes and immediately cutlose when the price hasn't fallen too deep. but for the current conditions where bitcoin has decreased significantly, it's not something you should worry about. Recover is a sure thing, so be patient is not a bad thing for now (if you hold bitcoin)

Unfortunately, there are no strong reasons why the Bitcoin price will go up. The price is in the weakest state of recent times. It is necessary to think carefully before investing in this market where everything can happen.

There is a huge support of bitcoin at $7800 then once it breakout and definitely it will go down more. And altcoins value is really been affected by bitcoins value.

We hope the value will increase and resist the drop of value of BTC.

the decline that occurred was also not sudden. slow movements and falling demand makes prices worse. but now I think bitcoin has started to stabilize prices again. it will take a while to see an increase in the market because this market will be stable first and be strong to start the increase.

It is highly unlikely that a sudden drop in Bitcoin value will occur, at least anytime soon.

The charts seems to be following technical trends and this is a good sign because it means that the bearish trends are at an end and that the bulls are soon to follow. If a sudden drop in Bitcoin value happens in the immediate time frame then that will demonstrate potential of how bitcoin price can be manipulated (then it will deserve to be dumped). Luckily it is not so.

Absolutely, in everything we have in life nothing is really permanent and there's so much things that will happen unpredictably, change is inevitable they say, this principle also applies in crypto space because the market isn't controlled by anyone but is affected by traders, enthusiasts, and investors action within it as a whole. Aside from the assets that you'll be bringing inside and will use for transactions, it's your patience and faith that yiu shouldn't forget to have with you, because if such movements and changes in the market price happens and got you already affected and panicked then lead you inti making impulsive decisions then you might mess up everything you have and contribute to the unpleasant changes in crypto space.

I heard the news that Alipay prohibits payments using BTC and alt. I think this is what made the market go down. We know China is the holder of the most dominance in the crypto market. Of course the news that comes out will have a big impact on crypto. This is also a whale opportunity to enter and buy as much as possible, if you want to follow the whale scheme I think it's time to buy when the market bleeds.

This is the news few days ago and it's true.
Binance Suffers Outage Days After Alipay Deny Bitcoin (BTC) Support (https://cryptocoinspy.com/binance-suffers-outage-days-after-alipay-deny-bitcoin-btc-support/)
But I don't think that the drop was caused by this.

Before it was China but not anymore although we can recognize them to have a big contribution to the market but I really don't think that this was the all cause of it. The market moves up and down and there's no need to find any reason for that. It's the description of being volatile.

Bitcoin-style

Price going up and down

https://i.ibb.co/s9zgpqc/11.png

source: The Rise and Rise of bitcoin

Investing and holding Bitcoin will always be challenging because of its volatility. Lots of holders these days have given up mostly when the price falls down. There are lots of things that affect the market situation but we might not get affected and we must not panic until we reach our target goal here. Good things only come to those who are patiently waiting. We could only gain a good profit only if we'll have the courage to hold until the bull run.

Market is very unpredictable and you don't known when it will go up or down and the best way to avoid getting REKT is trading it in usdt so you will not lose anything since it will maintain the value of your funds.

As far checking the market and speculations there will be a major drop but we don't know yet if that will happen since anytime it can give us a signal to rise again

That was whales game, make people panic with their wrong prediction. Then when people are exit their trade with loss, yhe ehales buying again and the price coming back.

I think that most of these are due to whales as they buys at different interval, some of the buy would have paid off at a time while some may not have paid off, imagine that a whale buys coin at $500, which grew to $10000, and maybe he bought also at $8000, so there is possibility of them dumping the one they invested in around $5000 to crash the market to $8000 so that fomo can come in and make people take advantage of buying at low price of $8000.

From here, if the fomo properly works as planned, it may push the price far above $15k for them to make more profit on their present investment, but it is a very big disappointment to them if I may say that not many people actually do pay much attention to all these drop again, and it would be impossible for people to invest out of fomo having known what fomo is all about now. 

I think we are in a sort of flux the situation when OP made the best hasn't changed much since then we are still experiencing a lot of volatility market everyday is jumping up and down by around 200 points which is definitely something weird. Because the thing is despite of this flux situation market is still not able to decide it's direction on which way it could move. I am expecting a lot of bearish momentum upcoming because we are soon going to face a death crossover on the daily chart if BTC doesn't bounces before that I am afraid we are going into a long bearish mode once again.

I think few percentage was whales action and many peoples are said bakkt launching is affect the Bitcoin. So everyone have different set of mindset in BTC and long term investors vare never thinking the sudden drop and hype so mid term traders only affect this price drop.
Bitcoin is a volatile crypto currency so everyone know this fact and all are preplan the any situation.