Bitcoin Forum

Why is it crashing?

Because you're not buying coins ;D

Or too much people selling... Right!

But why? Why now and why this huge crash so suddenly?

It could be related to the NYC bitlicense taking effect soon and maybe NYC holders are getting out.

Here is some info on Bitfinex and "leaving" NY.
https://www.bitfinex.com/pages/announcements/?id=51 (https://www.bitfinex.com/pages/announcements/?id=51)
https://www.reddit.com/r/Bitcoin/comments/3g6in9/worlds_largest_bitcoin_exchange_announces_it_is/ (https://www.reddit.com/r/Bitcoin/comments/3g6in9/worlds_largest_bitcoin_exchange_announces_it_is/)
https://www.reddit.com/r/Bitcoin/comments/3g9akq/the_bitlicense_is_going_to_ensure_that_the/ (https://www.reddit.com/r/Bitcoin/comments/3g9akq/the_bitlicense_is_going_to_ensure_that_the/)

It is just a theory though.
And BTW, it isn't really a crash yet.
It could be back to $275 by Monday.

ah, the old time ... purge in the saturday night.  ;D

My theory is because the ubiquitous "they" are squeezing right now and people are forced to sell to maintain. Greater adoption will prevent these kinds of drops in the future as the link to fiat is broken and the exchange rate becomes irrelevant.

There are several reasons why the price is crashing, one of them is the situation of bitfinex and NYC bit license and one is because of ethereum launch many dumped for profit. But its all speculation.

"Because it is not backed by the awesome might and power of a centralized government."

Crashing?

You mean that tiny little drop from $280 to $260 in the past 24 hours?

That doesn't look like a crash to me.  That just looks like normal bitcoin volatility.

https://i.imgur.com/WWZVCt4.png

its not crashing yet atlest i dont see any its a little drop of 15$ to 20$ now its atlest batter then the least and you never know when it will start rising again but now its time to buy some coins when the price is cheap

There aren't too many people selling... This was just a drop of water in the glass.

WoW... I cant just wait to see those SELL SELL SELL threads once again.

So, last round was 220-310, breaking the barrier of 260 in the round before.

What this round is going to be ? 200-350 ? ;)

Not a crash at all, no cause for concern.  Pure speculation but the NYC regs combined with slower weekend purchasing, if I had to venture a guess.

It will most likely continue to fall in price, but not ridiculously... maybe a bottom of 250 or thereabouts could see as low as 220 in the next month or two.

its not really crashing per se, i would say it is a correction. there was a run because of Greece and various hints about EFT (as mentioned above ;) ), but it was speculative. not many greeks themselves went to btc, it was the rest of the world hoping that the price would spike. they bought in and caused it to spike a little, that caused more buyers to rush in and continue the spike. thats how bubbles work.

after a few years here, and seeing these types of mini-spikes many times over i'm starting to get the hang of it... there not going to be a moon-spike again. that was caused by willybot, it was 100% fake. what will happen is we will see a slow increase over the long run, many mini-spikes and corrections slightly higher than before the spike started, climbing slowly.

thats just my prediction.

bitfinex almost accounting for a fifth of the btc volume today and mostly selling  :o

Yep, pretty normal price fluctuations.  If it stays this way for a number of years there will be a lot of very rich and happy traders.  Look at that chart.  This thing is like the most predictable roller coaster ever.  Buy in the valleys and sell at the peaks: win.

Upcoming crash factor => Two blockchain due to block size controversy

Upcoming pump factor => Block halving

Bitcoin currency is bound to fluctuate wildly in price until its broader adoption. Most of the governments also don't support BTC hence it will react very fast for any kind of news either good or bad.

From a price action analysis standpoint
on this chart:

Price tried twice to push higher and failed.
The support at the 275 level was then breached.
All the traders that were long with their stops
below the recent base of support were stopped
out, which creates double selling pressure as
the longs were forced to sell out their positions
and smart bear traders went short at the same
position.

I would probably expect two legs down before
the bulls return in force.  However, if the bear
breakout fails and price returns to over 280,
it is likely to resume the bull trend or at least
a range bound period with highs around 300.

Because Mintcoin is better.

Crushing?  Yeah I agree that it is crushing toward the moon.

Because bitcoins  like most assets including stocks and commodities are driven by momentum in the short to medium term trading.  People buy because other people are buying.  People sell because other people are selling.  When a rally fizzles out and starts to go down stop losses get hit and then other people sell.  That's what happen we didn't goto 300 people got out price goes down.

Well, a month back, it was rising sharply (supposedly on Greek fears).
Rises and crashes are a part of life.

Because we're still in 2015, just wait for next 5 years. And see what happen  ;)

https://www.youtube.com/watch?v=-DT7bX-B1Mg (https://www.youtube.com/watch?v=-DT7bX-B1Mg)

I like the downs as much as the ups, it goes up I feel better about the Bitcoins I have, the price goes down, I get to buy.

What a wonderful world.

Relax, it's not crashing, it's just fluctuating a bit more than the last few days. Yesterday, 1 sell of 10,000 coins got us to about $266. This might be some Chinese miners who need to pay for their electricity. I suspect even that Ethereum launch has something to do with this. Yesterday, Ethereum got dumped to the ground, and these might be some holders that got into it a long time ago when Bitcoin was twice as price of today and now they finally sold and got out to fiat.

perhaps because of the many users of bitcoin and the price began to decline  :(

it simple, bottom was never 275, but 250, 275+ was achieved too fast after we reached 250

i was expecteding a 250-275 range all the time, besides this there was some hack recently?

it was this ?

https://blockchain.info/tx/00fd1d894f68e73d2cd232d5501652ba1fe716cf561dd1dfad420238d4e341d6

https://bitcointalk.org/index.php?topic=1147247.0

its not crashing its just fluctuation down into more sell then buy the offer its bigger than demand and this makes it lower in unit but the speculation also helps and the china factors into this long like passed year also help s not to be into 500 dollars a piece im might go to 200 dollars a piece but into January 2016 starts rise again

Bitcoin's value depend on supply and demand. And about the crashing seems normal for me. At least bitcoin's value is not reaching lower than we expected.

Yeah, I still have faith on bitcoin for next year. The price will be unexpected !

Too many scam coins being created. People giving away their BTC to scammers. Scammers selling BTC for Fiat.

Were you around earlier this year? January?

This is just fun and games.

good "old times"....this was total capitulation .... and i bought some BTC  :D

That's because bitcoin prices that are down dramatically this time...

Because it was on sideways for a long time. Either it moves up or down. It tried +300's so hard but fail to stay there. This crash was expected by many.

the price usually goes down on weekends, perhaps profit taking, perhaps selling, but yes, i think NYC has something to do with it.

just a little price drop..its normal..
price will drop when there are many who's selling bitcoin exchange in dollar..

Price volatility is a part of Bitcoin, so for now get used to it. If you are a speculator, this should benefit you. The only people who should worry about this, would be the

merchants, who does not sell immediately after the purchase was made. Technology and modern PoS systems could adjust prices, according to the current Bitcoin price, so

this should in theory, not be a issue, if they convert to fiat immediately. {Not the best strategy, but one way to do it} Play the price in your favor and use payment

processors and you have no problems. The price was $5 a few years ago... now it's $270 ....Do you see any crash in that scenario?

probably a lot of people leaving from bitcoin, and few are joining ?

crashing ??

I think what you mean is the declining price of bitcoin
but it can happen crashing because bitcoin prices tend to decline

People are selling their BTC that they made of ethereum while they are still ahead.. If you look at the ether volume it is no coincidence that there is a lot of sell pressure on bitcoin. (probably some big holders cashing out).

Bitcoin has gone into panic sell mode. Once the price dips, weak investors begin cashing out. All we can do is wait for the trend to even out, and for the market to eventually correct itself. Shouldn't take more than a couple of days.

I was looking at the charts and I noticed the same thing. I think it is as you say since in the last weeks we had a pretty stable price pattern.

I'll wait some more days to see whether this is confirmed or not.

 ;)

it's not really a crash. some one cashed out his coins or simply wanted to cause panic sellers to sell it down. i think it won't go below $260 on the major exchanges. btc-e is always lower.

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

Calm your friends.
I see our future might be rising.

I think so.  ;D

Exactly my point. There is no scenario where bitcoin price goes straight upward, withouth any slips down.
If the people that are hoarding coin would just buy and never sell , they would have to buy each time at a higher price. Selling some in large batches shakes off
weak hands and lowers the price, which gives them a chance to buy more on a lower level.
hodl and wait, just for one year, and you will get results.

cheers

Wouldn't call it a crash by any means.  Hope this isn't the start of more bitcoin iz doomed!!!11 threads, save that shit for the speculation board ;)

i cant see nothing that tell me that bitcoin is crashing, i just see a simple dump thats all, like always...

maybe we are just a little bit nervious ;)

The marketcap is tiny and there are people holding tons of coins manipulating the market at will. We can't do anything about this unless a whale wants to fight back and create bull pressure, since we are still far from mainstream adoption that's all we can hope for.

It seems that the Bitcoin users behave similarly as real brokers on the stock exchange.
When the value of the shares starts to fall this creates a panic mood and everybody sales, which further affects the decline in value of shares.
Smart investors know that it is the best time to buy stocks and earn good profit later, when value of the shares increase again.
It's the same with BTC.
So, don't worry much about value of bitcoin but buy now (when its value is lower) and earn later :)

it most definitely sucks to see the bitcoin price go down. but i don't call it a crash since it has not gone so far down. the $10-20 price change is something normal for the volatility of bitcoin.

people need money to do their vacation, there the reason for the crash, i've always stated that summer isn't that great for a pump, too much distraction, autumn is much better if you want to see a good price increase

Wasn't the pump to 260 before the November 1200 during the summer? It may be an excellent time for a pump die to people not having access to their coins to dump on a higher price.

was in april, so spring and not really summer, with summer i'm mostly talking about august as a bad month for a pump and probably more good for dumping, in fact there was a dump after that 260 in april

I just don't understand why people are buying ethereum for a higher price than the ipo price of 2000 ether per bitcoin. So many dumb people in this market.

I don't know what happened in just 4 days and the rate has just declined. I have just had a loss of about $0.6 as the amount I have is less but it must be even more who are saving their bitcoins. It's seriously not a good sign.

Bitcoin lost 5,5% in value in the last 24 hours. That means you have 11.4 $ in bitcoins. Math, wow. :)

LOL! I said in 4 days I lost $0.6 and I have now $7.75 while it was $8.35 4 days ago. The price is decreasing rapidly in just 4 days while earlier it used to take a week for the price to decrease. The price used to be stable for a week with $2-$5 decrease/increase.

@jonald_fyookball: I know I don't have much in my BTC account but even I am worried about the price fluctuation just as you or anyone else. I have seen that last month the price was pretty stable at $230-$250 so am a bit upset and hence my frustration over the price.

it's called price fluctuation.  just keep buying.  you have almost no coins yet anyway.

Its crashing every day.

But what you fail to see it goes and recovers eventually a period of a weeks time. A real crash is when we see it like that mt.gox price moment when you can see the gradual decline every week hitting another -$100 mark each 2 weeks or more.

What you should do is try and remove your focus from the $ value.
I have X bitcoins. I will retain X bitcoins till about 2020.  :)

If you look at the value everyday, youll turn crazy..  :D

And its better to look at, like having some stock shares of a blue chip company waiting to explode.

The more you have the better reward, but yeah. Never stick with the daily value unless you have nothing to do.

Funny seeing all the topics appearing in this forum with CRASH!!!
it wasn't a crash i think 'correction' sounds better . You'll know it's a crash when it's happening.

I am worried as I sell my gift cards and mobile recharges for the bitcoin value as hence if it decreases, I'll bear the loss. I'm not that worried but I wanted it to be above $300 atleast. The decreasing value isn't a good sign.

Just a quick question, at what levels did you buy your bitcoins? Maybe around $290 because you're already suffering a loss % wise. Looking at those price drops every minute will make you crazy, I swear.

Ethereum might have something to do with it.

Look at the chart today. Kraken ETH/BTC. Volume is cray.

Look at the USD. Value vs China which is devaluing like crazy. There's your USD/EUR/BTC price fluctuation.

It's all simple economics 101. Panic if you must, but at least make sense.

it is going back up again

If you are that worried about short term fluctuations, maybe it is better to stop accepting bitcoins for your gift cards and mobile rechargers?

Now dollar is becoming strong hence there is some impact on bitcoin prices.

You can insure the current value of your BTC!

There are a couple of Bitcoin Options exchanges - options allow you to hedge against a fall (or rise) in price. Basically you buy a contract (cost around 1% of what your "insuring") called a "Put" that allows you to sell your BTC for $300. If BTC/USD goes down then the value of your contract goes up, allowing you to sell it and offset the BTC/USD fall.

I think there's a real need for a user-friendly BTC insurance experience, and - to be honest - Bitcoin Options aren't it. Over time I believe they'll develop, and new businesses will develop around them, but for the time being this may be your best option for insurance.

Anyway - if my explanation or the words "options" and "exchanges" don't put you off :) - here's a couple of links:

• https://quedex.net (https://quedex.net) is new, and not trading yet, but worth keeping an eye on.
• https://coinut.com (https://coinut.com) has been trading for a while now. Their website is a bit primary-coloured and "Bootstrappy" but seems very functional. This link is referer-free; there's a full-fat link in my sig if you'd like to show me some love!

PS. "Options" can be terrifying, and people will caution you not to trade options. This is good advice (unless you know exactly what you're doing: don't trade options). Buying an option, as outlined above, however - now that's using options as they were intended, and the risks and rewards are clearly defined: the risk is that BTC/USD remains static or rises - if that happens you'll lose the money you spent on insurance. Exactly like the insurance premiums you pay for home insurance, or car insurance. (The "reward", of course, applies when BTC/USD falls - your "reward" then offsets that loss).

at best it should rise , because for helping ethereum people should buy btc first, and then send those to etherum, so in th first place there should be a increase and then a possible crush

but the entity of those two element would be very insignificant, at this point the big money for ethereum are done, long time ago

people here have too much free time it seems. when bitcoin goes down a few bucks plenty of threads pop up with 'crash' 'sell now!' and more nonsense.

That's what YOU think. Look, the market disagrees with you. Maybe you're...Wrong?

Said the guy promoting low volume alt-coins....

I find it amusing but people just want some excitement and something to talk or troll about. People always want answers for why a crash or rise is happening but I think mostly it's usually just psychological (ie some good or bad news and people panic sell or buy etc and it has a snowball effect).

or maybe the cause it's totally different? it's not like there is only ethereum that can cause p&d for bitcoin

i simply think that demand is lower and for this reason the price crushed, there is no need to think about conspiracy or whatever other crap complicated reason

Bitcoin is crashing down because there is no new good news to support its over manipulated prices.

And also that the people who brought Bitcoins and don't have patience are cashing out.

Maybe BTC is crashing because the liquidity on bitcoin exchanges is decreasing

Looks like plenty of liquidity on Finex - the rate is at a low point, too (0.0055%): https://bfxdata.com/swapstats/btc (https://bfxdata.com/swapstats/btc)

Well theres upcoming events then, since we still havent heard whens the official launch for the geminis exchange.

It can be probably 2016 maybe, or you can wait out a couple other events.

Ethereum will take over as the main crypto protocol.  The writings on the wall.  My crystal ball tells me it's true.

Isn't there a policy against retarded spam on this board?

I'm telling you USEFUL information about your financial future that you wouldn't get from this hugbox for baghodlers and you thank me by calling my efforts spam. 

Looks like a duck, walks like a duck....



http://www.quick-break.net/c/2013/01/08/Quack_quack_mother_ducker.jpeg

bitcoin has less full node holders, that's probably why.
or probably since the Mt. Gox scam incident, people started to quit bitcoin.
i am a bitcoiner since 2010/2011, i know bitcoin well, i am studying more about bitcoin.

The main reason for such a big movements is most of the bitcoins are in hands of traders. These traders they want to make some profit from buying and selling so we see always such a big movements. When normal people start holding bitcoins then only bitcoin prices will start stabilizing otherwise we will see these kind of crashing.

well, a lot people started to invest in bitcoin due to stories such as; some one finds out his 1000 bitcoins he bought for $0,02 per coin are now worth $700k. as soon as they noticed it's too late for such gains, and due to buying at the ath, they left.

people here still believes bitcoin ISNT crashing????!!  ;D

for me.. maybe because a lot of bitcoin users now are selling thier btc. because of the drama.... they are afraid to lose more money when bitcoin goes really really down again... but dont worry it will go up again after the big down.

Yeah, It will shoot back up really fast. Those who sell their Bitcoins at this price will cry later. 

you were sooooo wronggggg

You guys are neglecting to look at world markets again. The dow was down over 1000 points at some times today. China is down 8%, remarkably the same amount as BTC over the same period. It's a global thing. When the recessions hit they hit everywhere. Bitcoin was not made to be immune to market swings.

BTC is going toward $200 unfortunately, only by then it will take another decision (going up or keep going down)

That's scary thought though.

Nothing scary about it. For one trader it might be a bad situation seeing the price go down while the other is seeing it as a great buying moment. Either way, a few people lose, a few win.

Its just of how people percieve with the new hard fork update.

Some people want to see the bitcoin not split up, some are forced to saying if we do go with the change how does transactions would react for old core users.

You know what's even scarier? Not that the price is falling, but if bitcoin never existed in the first place. It's just how the market plays out its own games on people. The price is based on how people react to certain events. Up or down, it is the people in the markets who decide. There's nothing scary to it, unless you put your life savings in it at stake.

The world with no options would really suck, cause then any banking crisis we just take it like a champ without moving our money.

I think most people under appreciate that bitcoin itself exist to protect our money from those events happening..

It doesnt have to be spending real money on bitcoin.

Although most probably do this. I think most holders like that guy are earning obviously or getting a way to get btc without the pay for fiat.

I myself sold something recently for bitcoin before this whole downtrend price.

Its crashing down because people cant see the adjusments based on technical stuff.

Which is like the bitcoin split or the difficulty on the rise around and another halving.. its stuff like that. Whats worst is that we havent seen the better parts to bitcoin where new exchanges of gemini can also effect it.

Unless the devs stop bickering and sabotaging it, we cannot have a safe currency. Fiat is crap but until this big mess gets sorted out it seems a better haven (at the risk of bail-in).

I`m thinking about Litecoin ,NXT, Bitshares, Ethereum and maybe Monero and Nushares, as a basket of safe haven for now, I`d not switch to fiat personally.

If Bitcoin survives it becomes stronger, if it does not then the Altcoins will have something to learn from!

its 230$ again and going strong, it was just a little price down as its back to 230$ and it started going down from 260$ and now the difference is only for 30$ you cant say it is a crash.

Well certainly this China mess & the Dow jones -10% crash is affecting the dollar, and a new crisis is just around the corner.

But remember we got a crisis with bitcoin too, this XT madness, so its really a dead end.

I`d hedge myself with some altcoins just to be safe, until this XT mess is resolved we wont see 1000$ bitcoin for sure.

This is the end of the summer holiday, the price will crash...
It usually rise in begin of the holiday and crash after.

and also the price should recover in autumn, betting on a rally around the summer is a bit naive if you ask me, there never a good pump or a notorious ones in the summer, if i'm not mistaken

winter and autumn should bring a fresh new air to bitcoin and hopefully an increase in value, i believe that, this is a long despair fase...

It's gone up since the $200 drop. We'll see if the slightly upward trend will continue.

Where do you found this gem? What excellent annalist of bitcoin have arrived in a such definitive and (according to me) surprising conclusion? Please refer here the sources to learn more and to have the possibility to discuss about the facts given about this great discovery.

Manipulators using the fork as an excuse for fear.

Yes and they also have removed now all the small players from the market by scaring the off.
And now the market is in their full control and they can do whatever they want with it.

Manipulators are the least thing to worry about. Price goes up and down, following the median line of valuation, with 2-3 standard deviation of variance.

The big problem bitcoin faces is an existential one, I`m more worried that the developers fuck up the code or implement a new protocol with cryptographic vulnerabilities. Yes the devs have IQ over 140 and are very good at what they do, but they are certainly egomaniacs, and above all humans, who can do errors.

So i`m more worried about a black swan error that can break the protocol, a sort of unseen bug or glitch that can be exploited very hardly.

the market has always been in control of whales/large investors, nothing new here. these dramatic price movements will indeed scare away weak hands, but the question is, for how long.

It could be a good reason .... people or some whales buying some coins for selling at higher price but see not happening and no interesting in BTC so decide to sell them eventually ..........

lol that's more accurate than u know mate fud is pretty effective depending on ho it comes from and where it orginates from

The first thing is bitcoin is not crashing ..its just getting its stability,
and plus other altcoins is just more profitable than bitcoin but they cant continue that .
so just wait some years .

Bitcoin price on range : $ 230 - $ 280 on this period. Mostly will got increase on weekend as I can see on bitstamp chart.
But we can't predict when bitcoin will change it's price trend since bitcoin's value will got increase without being realize.
So for bitcoin holder, keep hold your bits and watch your bits grow

it does not crashes complete there's like 1 million dependents of it

In future the quantum computers can destroyed BTC for ever ..... Btc is just for now not future ... get some Profits and out as soon as possible

the problem of people is that they don't have the patience to wait a year. they want profits within a week. such traders are often selling at a loss as they no longer want to wait for the price to go up.

bitcoin is not going down anymore as far as i can see lets hope we will get that

Yes since last one week prices are quite stable and slowly moving up towards 240 range. Looks like slowly may go to 300 mark in another one to two months time

Yea seriously bitcoin is not crashing but it has been a hell of down ,yes i know tht it has been significantly decreasing since its rise in 2014 ..
but it takes time ..

Why ? !!!

Because Every beginning has an end ...... beginning start with rising and ending finish with crashing .........

There is no guarantee in 1 year the price will up. Im sure every player play in short term or long term have a good method to get profit.

Saya kira karena banyak pengguna bitcoin, tetapi orang-orang yang membeli bitcoin sangat sedikit  :o

english please. we don't know indonesian.

We are all long-term bulls here.  :)

I never participated in a crash before, so atleast I can say I was part of history lol.

But yeah, it will suck if it crash hard any lower then the 200 mark point. And I`ll probably just screen capture the coins I have into a "meme" compilation.

xD mate good luck lol most crashes are pretty exhilarating lol as the graphs do go crazy hhope you catch the moments lol :D

The Greece crisis helped the price go up, and now it seems to be over the price is going back down. It might also be partly due to Ethereum IPO investors who made big profits selling their Ethers deciding to dump their Bitcoins. The Ethereum market is still getting big volume and someone's making money out of it. Today $755,971 worth of Ethers changed hands. Plus Bitfinex keeps stopping trades.

I dont know about this whole IPO nonsense stuff. Nor this Ethereum or whatever.

But the comment on bitfnex stopped trades, is because the accounts on their bank who they are with frozen their accounts so that answers all in and out going transactions.

First time I hear this. And don't understand where is based. I don't think that the whole world and a big community of scientist are dedicated to develop bitcoin and this effort will go in vain when the quantum computers will born and will destroy it. Can you be more specific about this bombastic and very strange declaration? Maybe someone can learn things that don't know and can impede in vain efforts to be made.

sha256 isn't very future proof, but that doesn't mean bitcoin won't last long as super computers may crack it eventually. bitcoin is open source which means we can implement improvements that will make sure bitcoin is not falling behind.

If nobody is buying the new coins off the market eventually people will start to reduce the price in order to conclude the sale. Plus you also have people holding onto the coins decided to sell it off. It's the supply and demand factor here that determines the price.