Bitcoin Forum

Bitcoin supplier: "I'll trade you a bunch of 0s and 1s for $15,000"

Bitcoin sucker: "Ok, sounds like a great deal to me"

Next Bitcoin sucker: "I want to buy some 0s and 1s also but only for $13,000"

Bitcoin supplier: "Sure thing, how many do you want?"

Next Bitcoin sucker: "How about selling me 3 for $10,000 a piece?"

Bitcoin supplier: "Yep, pay in cash, please."

Bitcoin supplier: "I'm running a real deal special. I'm selling 0s and 1s for $7500 each"

Bitcoin suckers: "I'll take some", "Me too", "save some for me", "I'll buy 1/2 your stash for $5000"

Bitcoin supplier: "Sunday's Special 0s and 1s on Sale for $3200"

Bitcoin suckers all together: "We have already bought a lot at higher prices. We are only losing each time you sell cheaper. What should we do?"

Bitcoin supplier: "Hodl and buy more"   ;D ;D ;D

You make it sound simpler, but behind a crash there are millions of dollars involved, and the final price is about offer and demand. So, the crash isn't about two guys buying and selling lower each time. It is about bears and wales moving bigs amounts of money.

I get the sarcasm behind it! But it's much more bigger than we can think off and much more complex than that! I agree there are whales who constructs pump and dump game to siphon out millions within a short period of time, but demand and supply also takes a crucial role in the entire volatility graph! It's not always the choice of sellers to sell at a lower price, rather it's a forced decision majority of the times!

The math is simple. Why would a seller sell their bitcoins at a decreasing price when selling at a higher price will make them richer?

It's a natural thing if the market has decreased and increased. I think the current weakening of bitcoin is because investors are selling some bitcoin for the end of the year, this is common every year. But I think the beginning of the year bitcoin will increase again considering halving will happen in the near future in 2020.

Pathetic attempt at FUD/trolling from a bought account. It's not even an argument, just a stupid strawman argument that Bitcoin is "just ones and zeroes" and that it's being manipulated without any real proofs. You are just hoping that people will panic because the price is going down, and they will listen to any stupid argument because of their emotions.

? ? ?

You can literally make the exact same example, but with an upwards price. It's just that this time the case is that the price lowered. Watchumean boi.

One of the reasons behind could be the following:

This drop comes shortly after a report from Chainalysis, shared by Bloomberg, revealed that the PlusToken Ponzi scheme, which managed to accrue billions worth of Bitcoin and Ethereum and other tokens over the course of a year, has been dumping thousands of coins per month on the open market.

Source: https://www.newsbtc.com/2019/12/16/why-bitcoin-just-dropped-to-below-6900-in-abrupt-drop-risking-a-big-fall/

You don't seem very intelligent. Everything is made from 0 and 1 the fact that you know about binary code but don't understand it is shocking. If you understood 0 and 1 then you would not say such things. Have you not watched the matix?

People selling bitcoin for christmas probably.

In layman term, we all need money to buy food, any merchant willing to accept bitcoin as the actual payment option? Any? Joke aside it’s certainly a blessing moment, because it give us the opportunity to accumulate more bitcoin at very decent price, I’m actually quite happy to see that coming, despite my bags are bleeding fast, good luck to the guy who hodl a lifetime of wealth at this moment, I hope they didn’t do something regrettable.

You will find many reasons for the drop but you cannot pin point that to be the exact reason for the drop, i have read the news regarding the so called ponzi scheme and they have $2 billion worth of crypto assets and Chainalysis and other blockchain analyst are monitoring these moves and yet why there is no action against them and is there any legal proceedings against these scammers in China, considering all these scams around us we wish there was a better system to stop these illegal activities and the loot should be confiscated and returned to the rightful owners and with BTCitcoin it is possible to do that and hopefully we will see that happen one day.

@OP i liked your sarcasm but the price of BTCitcoin is not controlled by the miners, the investors have the ultimate control over the price :P, if everyone decides that you are not purchasing at a certain valuation the price will naturally come down, so do underestimate the power of the investor .

I get the sarcasm but there's so many fundamentals that we should look at.

• UpBit
• IDAX
• DASH
• Super Typhoon
• Holiday Season (Christmas & New Year)
• PlusToken Ponzi Scheme

If we consolidated all of that happenings on above list this may be the reason of BTC imminent price drop. Although there's a lot negative happens this Q4 of 2019 but I know the list about is just a few if we gather all of it.

My The point is, OP post is just a normal behavioral of people when it comes of scarcity of investors because of these consecutive events.

If only life were that easy. But it actually is. And people just refuse to acknowledge that BTC price dropped because demand was less than before or supply increased more, aka, coins were dumped to the market (slowly). As for who dumped or what country was responsible, well, there are millions and billions of traders out there. I doubt you can put the blame on a single entity, no matter how big they are. The market is moving depending on the movements of the traders out there so you can't really put the blame on them.

it's like insinuating for bitcoin suppliers, but not because of this kind of thinking, instead of a lot of news out there saying that bitcoin is down because of the plus tokens and so on, but I'm someone who doesn't believe in any media sites about crypto, I'm still focused on analyzing charts, where indeed the price of bitcoin is stable until early next year, I have already said about it will not be under $ 5,000, so when you see the price of bitcoin falling below $ 7000 it only lasts for a while and it will not be long before the price of bitcoin will definitely return above $ 7000, the price will continue as it keeps repeating until early next year everything will explode  ;D

the silver lining: this is what bottoms look like. bear trolls abound, FUD and crash predictions everywhere...... this is textbook stuff. the bears are celebrating because there's blood in the streets.

what's the old saying about that? :P

Yes I think this is a manipulation and is going to trap many people into regret as they follow in dumping of their hodlings.
The price of 7k is good to buy more rather than selling off.

It's true,  bitcoin suppliers generate so much bitcoin everyday and sell it in their best interest to cover the mining expenses and earn profits. Meanwhile, people keep buying bitcoin due to their interest, one hope to get profit if the price rise and some using it as a payment instrument, and others act as traders to buy and sell it for profits as well.

before bitcoin has no use I think demand will also be less than sellers, bitcoin must still be adopted by companies or countries for it is very natural that Bitcoin is vulnerable because of the news

The most influential thing in my opinion is that many markets get hacked, actually issues like this still exist 4 years once, a year before Halving Bitcoin. But we can easily guess after this issue ends and then Halving happens, then a year after Halving occurs the price of Bitcoin will return to the moon.

BTC supplier? I'm pretty sure most of the coins are held by traders at this point in time. And miners have no choice but to adapt to how the coins are currently priced by the market. It's not like, it's a simple buy and sell concept. Traders don't only buy, they buy and resell, and that's why the market has developed as such today. Sides, if only miners/suppliers held the mantle to putting up the price of BTC, heck they'd be so overpriced by now.

Sides, not gonna lie, I'd rather choose to buy 0's and 1's than paper money. Paper money are made using natural resources. 0's and 1's on the other hand? Quite free iirc.

Yeah it adds the upset since imagine how big the hackers accumulate for those hacking events and for sure those sell off contributes to the dump that's why we encounter this issues right now, but hopefully in halving months we can see a good things with it so let's just trust the dominance of bitcoin at that time since we could possibly see the same on what happen on year 2017.

I really doubt that theory. Who's have BTC1 Million bitcoin that he generated through the mining process the first time? Then more people mining as well, early adopters are the miners,  so we can conclude the miners have so much bitcoin = or we can call them the real whales.
Traders buy bitcoin from the miners but still, they (miners) have so much left in their wallets and keep coming from the mining process.

May be due to lack of activity. And in addition, it is Christmas season you know you have to spend once in a while, giving gifts spending some stuff out there and I know for sure there are a lots of sale/discount during Christmas season and who cannot resist that, right? Besides, my reasoning might be a little of part of a big real situation on why btc price decreases.

I think trolls become active every time there a big sudden downward movement, so we aren't necessarily at the bottom yet. I still scratch my head as to why they do this - are they just paid shills, or enjoy creating panic, or do they legitimately believe at what they say? But regardless of reasons, they are objectively wrong, and it's clear to everyone who isn't a complete beginner.