Bitcoin Forum

The selloff continues and Bitcoin is dumping. Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

Be greedy when others are fearful.

Let's take a step back and get a clear look together.

https://youtu.be/1SUR_9UuTSE

Well, we can't stop the price from going down, or investors selling this precious bitcoin because of the holidays.

Are you referring to this article? PlusToken Scammers Didn’t Just Steal $2+ Billion Worth of Cryptocurrency. They May Also Be Driving Down the Price of Bitcoin. (https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price) The article came from Chainalysis, so I don't know if it has weight or something. Still up for us to decide, but basically the price is base on supply and demand tho.

No idea about the actual reason of the dump but it's always the normal cycle of the market. And yes, this can be the normal fluctuations that we usually see if bitcoin gets a price bump everytime after a dip.

So that's the article that has given you an idea that it could be the reason of the dump. It could be but it's a very basic answer that when the market goes on this attitude, there are huge sell offs that just happened.

although this often happens at the end of the year, it looks like the end of this year is not much different from the end of 2018. Well, I also don't have any idea about this.  I heard that the lowest price of bitcoin could be $ 6500 this month, and it looks like it will get worse.  in fact, many altcoin prices are also dumps.  the only thing we can do is wait for price recovery.

Looks like more people are spending a lot these days, and the predictions was barely influencing a lot of panic holders. Just ignore this downtrend, because it will go back prior new year comes. Let's grab the cheaper price opportunity, and hold while it's still having the highest chance for btc price to spike soon.

That is the price of the agreement formed between the buyer and seller, nothing strange. You can scroll the chart to the previous year there must be a dump and pump that occurs.
And we can't stop that because that's the real market condition. Only new people are worried about this condition, because they only know that bitcoin has a high price the first time they know cryptocurrency.

The price of USDT dropped from $1.02 to $0.994 over the past 10 hours. That suggests a lot of downward pressure on the Tether markets. Plus Token was a Chinese ponzi scheme and the Chinese do virtually all their BTC trading with USDT, so this theory makes sense.

The Plustoken selling could be one catalyst however it seems that alts are getting more sold-off than Bitcoin. I think what is happening this is mostly the ETH, LTC, XRP people getting liquidated who kept catching falling knives all year. I think the best example is XRP.

XRP has been on a huge decline since its peak at $3, and it goes lower and lower and lower and people think that it can't go lower. I think many assumed that the $0.25 area would hold and when we broke that area we quickly accelerated the selling all the way to the $0.17 area. This is a large amount because its over a 33% difference, and there are probably people who bought at the $0.30 or higher area.  XRP hit the lows for 2017, it was the worst performing top alt so far.

If this continues I think ETH eventually might see double digits and LTC might hit $20 again.

All the factors you mentioned can be consider, however this is very normal dips and expect a big rebound in few days. There's nothing to fear really, people buy and sell as always it just happen that demand is lesser than accumulation.

there is no impact whatsoever, it happens because something is normal with bitcoin, let them currently discard and take it in a cheap state with a sale and purchase agreement on the exchange, what we need to realize now is that bitcoin never pumps and dumps, so the price Going down for the end of the year is natural, seeing many people selling now is opportunity for other new people to buy

Let's take a step back. Okay I'm back. It's normaaaal Jeez. BTC runs on the idea of supply and demand. Literally no one could manipulate it, UNLESS bloody mind controller takes over the whole world and orders every trader out there, which is not gonna happen I assure you. And yes. Time to take advantage of others being in fear, since some traders have been waiting for BTC to bottom out, and yet no signs of it happening with the continuous decrease of BTC price right now.

Sides, the price right now is pretty normal, with only the recent november spike which can be considered a small bubble, the current movement can be seen as actually the supposed to be movement of BTC this year.

Don't be worry too much and yes it is normal price fluctuation. There are may so many possible reasons why it happens but can't pinpoint the specific one. It may dump for now but the time will come that dump will stop and will climb up again. It's just a cycle. Let the late adopters join the ride.

NOt actually greedy but wiser. We all know that Bitcoin is a good investment that is why it is wise to put some money in while everyone else is pulling it out.

We cannot pinpoint the real and direct reason why the price is tanking. But it happened before in bitcoin and the price bounces back. That could be the same scenario right now.

There is one reason why bitcoin is currently selling and that is reasons is the holiday. Most people like to spend at this moment and that always do affect the market. Bitcoin has always be in bad shape at this time every year so to me it is not new.

This is just normal fluctuation.

There is nothing to explain it.
Even if you do all the digging you want, you will just end up making efforts out of nothing.
I have a question though.
Why are we still not used to how the volatile movement of bitcoin is? Keyword: Volatile.

I'm looking at the ETHUSD and ETHBTC charts and I'm seeing light at the end of the tunnel. Daily OBV looks healthy, showing minor bullish divergence:

https://i.imgur.com/QIaDMzb.png

https://i.imgur.com/i3bFxba.png

I don't like to enter positions off long term counts like this (altcoins are way too bearish to risk catching knives) but my opinion is the bottom is close. I think the 0.886 at $113 is a reasonable target for ETHUSD. We could see a truncated/failed fifth on ETHBTC. It really depends what BTC does.

there is no miner capitulation.
and the plustoken scam is not dumping any coins on exchanges to cause any kind of drop, they are selling p2p away from exchanges so any dump they are doing is not affecting the price. not to mention that most of it is drama in the news!

that leaves normal fluctuations. since the support was broken the panic started and the drop became bigger. it is as simple as that. an the drop itself was due to lack of rising power to break the resistance and go up. on top of that there is always market manipulation involved.

Nothing new here. Nothing different from the norm tbh. BTC broke down to 7k, and fear spread towards most of the traders, which resulted in another drop towards 6.6k which is the current price right now. Also, no one wanted to break through the current price, and most traders are actually waiting for BTC to go lower and hit the most bottom it could actually get. Once the bottom breaks out though, BTC would probably skyrocket in price and traders would then proceed to buy continuously. That, or a breakout doesn't happen and BTC continuous to dump down, but I hope for the former to happen.

I feel this is more about miners because they have the most to make out of this.

Think about it, if bitcoin drops in value there will be a lot of rich miners who will continue to mine because they are already in millions of dollars in profit (some say even made billions) and they can take the hit right now with the low bitcoin however small miners will have to close down their machines which would mean eventually big miners will start to make profits while small ones are gone and when the halving happens the miners that are smaller will continue to close their machines while big ones will continue to make profits. Which one is easier, to make sure bitcoin is over 13k+ to make a profit or destroy the sector and just take a hit for couple of months?

We are still above the lowest price we had this year. I do not know what is causing the price to tank but it will recover. Remember, we are 3K just a few months ago and spiked to about 12K. Buy to support the price and wait for another spike. That will be my strategy here.

This is an usual phenomenon wherein most of us sell off bitcoin for vacations but this might be a dump from whales as well to make it look natural at this point of time and honestly we have no other option rather than either selling off and buy at lowest or to wait until market receivers. 

Yes indeed this is just normal fluctuations and don't panic too bitcoin now they have started and will not touch $ 6500 but we will continue to monitor the current market because the increase could have started when the dump had already occurred.
It is my hope to continue to buy bitcoin when prices are low like this.

Let's stop attributing the price dump to one event or the another. I just don't understand why people do this, I guess it's their way of comforting themselves for the price dump. yet it makes no sense.
People could be selling out of fear because they somewhat expected December to rain money but was disappointed.

Peoe are not selling bitcoin because of the holiday that doesnt even make sense.  Will some people sell a little change to get some extra fiat for the holidays, maybe.  But that would be so small, otherwise you would see a yearly selloff.  This probably has something to do with that scam token sell off.  Chain analysis followed a lot of it to OTC desks so I imagine yep that is mostly the reason, which makes me bullish

Yeah, it looks that way.
Holidays are coming. Spending money will be the most done of all.
Christmas and then the New Year's Eve. That will be a lot of food and gifts for good luck and lot of bounties for the Year 2020.
It cannot be stopped, even with the low price of bitcoin they might still sell it.

This might not be the normal fluctuation of bitcoin now but more on the high amount of sell.

I wonder where they get that Idea since it never get any sense to have a conclusion like that since I think those scenario is not related why the price goes dump right now. But actually  I am thinking about the market upset right now and this affect the feelings of new investors including the other whales to buy up some bitcoins that's why we experiencing more sells and low buys right now.

This is a normal take for someone who's looking into his investment that starts to go down in value. We always see this kind of take everytime the market dumps and it's already a scene that's no longer new.

You just have to understand them and now that the market has recovered quickly, you won't hear anything from them because the storm has finally calmed down.

It's all just regular market forces.  Whales will play games, we will experience uptrend and downtrend all the time.  Sometimes there is just no rhyme or reason why people are selling or buying.  It just is what it is at that time in the market lol.  ;)  take advantage of it

It is possible that that is the reason and because the choice has been made even though it is difficult because both are very important for those who celebrate it, so inevitably they have to use it or sell it even though it's cheap.
but if their smart users don't depend too much on bitcoin to celebrate Christmas or whatever the reason, and if they have to use it only as needed and not spend it.
but there is no possibility that is the main reason because not everyone celebrates Christmas.

In the cryptocurrency market, it is perfectly normal for the price to rise and fall, the price will increase when many people want to buy and decrease when people want to sell. I think this discount is due to the impact of the Christmas holiday, people need money to buy food and gifts.
Stay calm, prices will recover by early 2020.

Again that is definately not the case.  Bitcoin price doesnt raise and fall based on holidays or anything that's just silly to believe that.  Otherwise every year short bitcoin in october and then long it in december.  The volume is too large for "holiday" selling to be a significant change in price.

mean the main reason Bitcoin will go down is before Christmas?, isn't everyone going to buy bitcoin to be a Christmas gift? Last year was like that too

OP is asking some valid questions and at the same time showing us why we shouldn't panic. Panic comes from uncertainty and even OP doesn't know if Bitcoin is losing market value because of some ponzi dump or miner capitulation. Maybe it's people selling for Christmas and maybe it's tax year ending?

In times like these you should understand that others feel just like you. Don't know what's up and think that maybe it's better to sell because so many things threaten Bitcoin, but nothing really does. Some ponzi selling or people buying gifts is not a threat. It's an opportunity.

Man I know how irritating the market now. But let us give space for this Christmas season, no need for us to hold back as this is the season of exchanging gift, giving some stuff out there. And I know you do the same thing but someone ain't have nothing for them to earn money out there besides to crypto currency. Anyway, market is going to take back sooner or later, let us just wait.

Don't get irritated with it mate, have patience and emotional control or you can buy additional holdings to accumulate the balances. By the time it it grows bigger in value, you'll be able to get good profit in return. For now, I would suggest to do long term holding instead of dumping your asset at very cheapest value.

the bitcoin sale price took place and it only played low at $ 6500 and back again above $ 7000, I often say this is actually the price down not because of the miners or because of the scam ponzi project case, but because the price will continue like this and will continue play above $ 7,000 and fall only in the area of the lowest $ 6500 price or could reach $ 6000 or $ 5500 this event will continue to repeat until early next year, the price will not be under $ 5000

On this season its good to give thanks to the giver of everything, and share our blessings despite of many challenges we have encounter this year, btc price goes down because it is meant to be like this. We don’t need to panic, it wont go down lower than $3k because its already the bottom, trust bitcoin and trust time good things will come.

Yeah it's good thing to trust up but how long you can hold your trust if you see the dumping happening on the market? For sure those positive thoughts will be erased and it will be replaced by fear of losing your funds so the best thing we could do on dying market is to do a short trade so whenever there's a pump happening and halving will effect then we can assure that we get more volumes since we do a wise trade when market bargains are placed.

Selling before the holidays is not a made up thing, it is a very very old thing in the stock market world. In wall street everyone knows that the moment you get into a new year is the moment you start from fresh and try to get as many customers as you can that you either previously had or you know other companies had but now free agent. Why do they work that hard start of every year? Because, people sell their stocks and use it for stuff like Christmas, Halloween, thanksgiving and whatever in between which all costs a lot of money to everyone around the world.

There has been couple years where November-December period was bad so people assumed the same thing that hurt stock markets might be hurting bitcoin as well, it is possible, we don't know if that is the problem for sure and we can never know it but it looks like it could be a similar issue.

yes I agree with you in the end that determines the rise and fall of the price of bitcoin is demand and supply. and usually when this is the end of the year people need a lot of money to celebrate Christmas and the new year so some bitcoin holders will sell their bitcoins. that's why at the end of the year like this the value of bitcoin tends to decrease. because bitcoin supply is more than demand. so in my opinion the price of bitcoin until the last day of the year will be at $ 7k.

Ypu guys have to stop thinking the priced is based on when people want/need money.  Just because its christmas does not mean peoe are market selling.  Bitcoin price is going up so why is that with people needing money for christmas?  Holidays dont make a dent in the market.  Otherwise every year you should sell in october and buy back at then end of december.  It's just not the case no matter how you cut it

selling it now seems feasible, the increase has reached 5% from below support,
selling and buying back when prices are low is in my opinion very good to do now  ;)

This is all the usual price fluctuations, nothing new to the current market position and pointing out what is the main cause for this. May a lot of people sell their Bitcoin this Christmas season and the selling price will drop down as they would like to sell it instantly. This might trigger a dumping scenario and we're able to see the price lowered down below $7k.

If you want to take that profit, you can sell it off right now, but if you can wait for more, then I guess that your profit will bigger although there is no guarantee to you for making a bigger profit. I think you can try with scalping trade at this moment because if bitcoin price can increase, you can sell some bitcoin to make a profit, and then you can wait for a while for another dump that will happen later, so you can get bitcoin at a low price. After that, you can wait for another increase in bitcoin price so you can sell it again. If you can rinse and repeat this, I think you will make a bigger profit.

Sell right now is not good choose to get profit with bitcoin because we can see how bitcoin keep down with lower price, maybe waiting next month for selling bitcoin because can give chance to get back with higher price for bitcoin, better not selling right now with price still lower and waiting when have good information about bitcoin become legal currency payment in one country.

I think the decline in bitcoin is now normal and is common in bitcoin price fluctuations. some people attributed the decline in bitcoin at the end of the year due to some bitcoin holders selling bitcoin for Christmas celebrations. I think it's not like that there are some people who sell bitcoin for Christmas celebrations but that might not be too large in number so it won't have an impact on the price of bitcoin. I think the decline in bitcoin at the moment is the work of the popes who use the year-end moment.

Except for the 2017 year, it is normal that Bitcoin price goes down at the end of the year because many people cashing out Bitcoin to celebrate the holidays, new year. This price decline will stay till mid of January, after then price may increase to hit 7500 to 8000 USD! Therefore recent NASAA warns, Plus token scam can be reasons for the price decline, but still, Bitcoin holds the 7K zone strongly.

I would suggest selling at 10% profit at any given time if you are looking to be a trader. Anything above 10% is just risk and if you sell it that much then putting a buy order at a 30% drop of value is also a great idea. So, let's say you purchase bitcoin at 100 dollars, if it goes to 110 dollars you should sell, if it goes to 70 dollars you should buy more. I know purchase average dropping has been a topic for many many times and people are sick of hearing the same thing but it is talked about that much because it works.

I don't understand why people are worried about becoming rich over night or they are investing with all their money all at once. You should put a bit of your money in (probably less than 50%) and if it drops you can buy more, if it goes up a bit you can profit a small bit, if you continue doing this all year every year, you will retire early. Yes you won't be able to buy ferrari and live in pent house etc etc but it will be a better life than you are living right now.

in the trading market, it is certainly normal for prices to go up or down and with the price of bitcoin continuing to fall, making some people panic, so they sell bitcoin and with many selling, the price of bitcoin will go down even more.

I think the rise and fall of Bitcoin doesn't need a reason. bitcoin can go up and down suddenly. and I think the decline in bitcoin is now common in bitcoin that has high fluctuations. and right now we are still in a downtrend so I don't think we need to worry and panic in selling. I'm sure 2020 is a good year for bitcoin and bitcoin will be reduced by half in May. hopefully by half reducing making bitcoin pump and make trends turn into upward trends.

Let that dump happen as after the dump, pump will happen.

Come on, aren't you getting used of the market yet? pump and dump has been normal here and regardless how big the amount will be dump, the market will still survive as there's a lot of whales who still believe on its potential.

this is the bitcoin price fluctuation. bitcoin is trying to stay at the level of $ 7000 and is trying to make an increase of up to $ 8000. meanwhile a lot of whales dump so that holders panic. but I believe, this selling action will not make bitcoin fall even deeper. I hope this year's closing, bitcoin is at $ 8000.

Not that much and it is back all of a sudden.
It is like just a peak to the 6k+ price.  :D

Lucky for those who have bought at that cheap deal.
Now, they could sell back and take the profits for celebrating the New Year's Eve.

I looked at the 1 week chart, and the 1 month chart, and I don't see a single recognizable pattern. It's not a flag, or a pennant, or a wedge. It's gnarly looking! The one week is forming a butt!

I know some people are saying head and shoulders but I don't really believe in those (jk, I just don't think they play out that often).

It wasn't until I zoomed out to about 6 months that I see something interesting...

It's gone down, sideways, up, sideways, down, sideways...

And if the last move to 6.6k was really putting in the double bottom... Then the next logical move should be a big up! This of course could come after more sideways action.

we can't control prices because many people are in the crypto market and we can't control everyone to make bitcoin go up or down, so anything can happen, what we have to do is to be able to determine what we have to do, whether to buy, sell or hold it

Everyone has their own prediction but for what I can see there is not any need to make any kind of important movement now, if you are out of the market wait a little bit more until things become clearer and we can determine if the market will go up during the next months.

But if you are already in the market then you need to monitor the price, if at some point we get a close below 6500 that could be a clear indication to get out of the market before a new crash happens.

I agree with you. It is better to hold for a while until the price back to a higher price. I only suggest if he cannot wait for a while, but that is not a good solution to recover the loss of the money. The market will be recovered too, and that is why we need to have more patience to wait for it.


Your suggestion makes sense, I prefer to take a little profit, but I can get the profit over and over. We never suggest investing with all their money all at once because that is too risky for their money. Besides that, the crypto market cannot be predicted, so anything can happen later. It is better to invest with the money we can afford, so if we lose the money, we can learn from the mistake.


We don't have to make a rush action if the market is not moving fast because who knows, after the next hours, the market can give hope to us so we can back to make a profit. Waiting for a while is a good suggestion in the unpredicted market while we can also earn another strategy if the market goes to any moves. Perhaps, we can use the alarm from the apps that we used, so we know if the price moves to one range of the price, we can understand what we need to do.

Due to the down price of bitcoin, many people will totally get panic and one of the factors why the price of bitcoin keeps on falling is because of the people who do panic selling. I guess only the person who has weak heart are now selling their bitcoin and due to the bad condition of the market, it is not the right time to sell bitcoin.

They'll have no choice and they are actually doing what it seems they feel right. But just like us who never been panic and still optimistic for the incoming, it is really wrong decision. Though they have nothing to blame either but their actions will drive the market to fall down. If this scenario will continue, we can't ever think that bullish will come a way back.

But that does not mean bitcoin will just continue to dump, if there are people who dump, there are also people who are just waiting for that right timing as bitcoin always bounce back every time it dump.

That dirty btc might be dump in the market but it's just a normal thing here, bitcoin will remain volatile and the fact that it had died many times, there is no sense to be panic now.

It is normal for markets to go up and down in any financial commodity of course but it is even more normal for it to happen for bitcoin. We have been active for 10 years now (since first bitcoin) and I can tell you that bitcoin for the past 10 years has gone up and down like crazy all the time.

It is not doing those crazy moves every single day of course, most of the days it is just like any other stock that goes up and down small time and that is normal, we do not expect it to do anything crazy but any day it could suddenly go up 50% to 10 thousand dollars and nobody would be shocked, we would be a bit surprised but not shocked because it has done similar things before, or maybe it would go down to 5 thousand dollars and that would be understandable as well, these HUGE moves happened before so they are not impossible to imagine for us.

yes, because dump does not mean to die, it's time to show it now whether bitcoin is dead and continues to fall, now it's 2020 whether this is the time where the price of bitcoin will really answer all the questions people have about halving and 2020, at least not to disappoint many people, still in the same train waiting for time to depart, panic has gone since last year

There are some people who want others to be panic, i am really sure it is happen in trading activity. Because what they aim actually cheaper price to buy bitcoin again and we, or you who already know if dump is something that we shouldn't to be worried must give other information too if they are don't need to panic if dump happen, but keep aware of their investment too if needed.

this crypto world happens strange thing, every hour I get some notification from some bitcoin news site and the unbelievable is that are I only bad news. it's always news that the price will drop a lot this quarter before going back up. what I realize in all this is that each person should do their own analysis and judgment

Well, holidays are done already yet the price of Bitcoin is still holding the $7,000 support level. I think this year is quite strong compared to last year where Bitcoin price dropped from $3,500 during the first month of the year. And the Bitcoin halving that everyone was talking about is just four more months to go yet the effect of it will not be very bullish as almost everyone expected.

Don't forget, there is still the chinese new year party coming up haha. At least we're done in the western hemisphere.

That huge volatility attracts a lot of investors to this market, it is true that if you are in the wrong side of one of those movements you are not going to be really happy about it but on the other hand when the market does exactly as you predict then the profits are many times better than what you could get out of the stock market in several years.

However right now it can be difficult to know what is the direction bitcoin will take during the next days as the market is not only in a very volatile state but it is also in an unstable state in which it seems like it does not know where it wants to go.

You right dude, when Chinese new year always make bitcoin price keep down and lower, I ask for every one be quiet for trading and investing with bitcoin now and waiting after Chinese new year, many investor in China will sell their coin assets during Chinese new year and give effect for bitcoin and other crypto coin have lower price.

I don't know what will happen later when the Chinese New Year happens. I hope that people do not sell their bitcoin because they need money, but the price can start to increase to a higher price. But if in the Chinese New Year, bitcoin price is down, then we should prepare to have money because that will be the best time to buy more bitcoin while after the party, the price will be increased again. And who knows, after that, the price can break the highest price.

Bitcoin has broken out from a reverse head and shoulders and has successfully tested the broken resistance as new support today.

Take a look, https://www.tradingview.com/chart/BTCUSD/h4lwcQ1X-BTC-USD-New-Trade-Alert-Multi-Time-Frame-Analysis/

Ain't no wonder why it goes like that (all the time). Volatility is still strong and it drives to a fluctuating price rather than to see it going straight high or it is a straight dump. The market still has strong support and I think that we gonna hold back to $8k again this month and looking how it moves to $10k before halving.