Bitcoin Forum

So bitcoin just crashed by $500! Look at the market graph between 23:30 and 23:45 EST for bitcoin and bitcoin cash on Bitfinex. They are exactly identical! NO WAY this was done by a human. Too many bots in operation???

I think in the crypto markets there are dark and insidious things going on.  Things we cant imagine.  XD

well, it is quite obvious that bitcoin now has a support at 7k.

Ha! @infinitimods you and I just posted nearly the identical topic questions only 9 seconds apart.  I too am very interested in what caused this.  It wasn't just BTC and cash, it was across 7 other alt coins I'm watching.

At the exact. same. time.  :o

first of all 6% drop is not called a crash in bitcoin ever. a "crash" is 30% and above.
 
secondly it is not because of bots. something happened which i still don't know what, that led to this sell off. and when that "thing" happens, people sell everywhere. during this if an exchange has higher price it will create arbitrage opportunities which means more sell off there until the price of the higher-price-exchange reaches the level of the rest of them.
bots are obviously working on the market, and they watch other market prices too, but they are not the reason for the drop.

Bots are a part of the game now, there are no way to get past that. People use tools like this to manage risk and to get the edge on the exchanges. Those same bots usually trigger a crash too, because they are configured to protect the trader and it cannot make human decisions. One bot trigger a whole string of bots on different platforms and it quickly becomes a Domino affect.

The Willybot was one of the bots that created the biggest mess a few years ago. ^grrrrrrrr^

I wouldn't call it a crash, similar to how we don't call it a boom every time the price goes up. Some bot activity is surely to be expected, but I'm hoping as bitcoin becomes more popular and a larger number of owners enter the network, hopefully the price will stabilize and we will not have to worry about bot interventions any more.

It's up again now by +$200 back to $7,900. The price was recovering very quick and if the price starts to decrease again there are some people that are satisfied by selling it a while ago. I don't think that it was done by super human or bots, I don't know on how you ended up thing that this has been done by some sort of that thing. What's your conclusion on how did bots crashed bitcoin's price?

its part of the game maybe its a small fluctuation but can't be consider as crash and bot are just there to play with traders, assuming that they are really doing well but still real traders and investors will play much better, consider this as another corrections or a testing  ground for bitcoin.

This is a price correction, not a crash, anyway, it will increase again in few hours probably.
Crash is -30% or more, like september when china caused FUD and price crashed around 40% from $5000 to $3000.
Even when crashes, bitcoin always raises again, so if you believe in BTC, just HODL.

What has that got to do with a crash? Must be the listing and commencement of trading in BTC-BTG (Bitcoin Gold) at Bittrex! I noticed it took off at a mouth water rate of 0.99999994BTC but subsequently dropped to 0.04xxxxxx. Already traded almost 16,500BTC in volume and those that where privileged to sell at the peak (Bittrex I suppose no.1) must have made a kill!

Nope. It did not. Bitcoin is still on upward trend, I do not see how you call that a crash. Regarding to the Bots, i don't think that any trading platform will let them dominate by bots so yeah, it is not because of both, I can definitely sense that this just a casual panic selling because Bitcoin already reached new price, It will recover soon.

This is really full of newbies just speculating over the price, i can not even understand why are you saying that bitcoin has crashed, guys, it has not even dropped by more than a five percent.
you should really try to stop creating this useless threads because you are only spamming this forum, and making my eyes bleed because i can not support this kind of trash in the forum anymore.
Everybody knows that bitfinex is manipulating the price, it did not dropped a lot, five hundred dollars are not a big deal if you talk about a price of $8000 and a little bit more.
Now it is slowly recovering, just look at the charts, upto $8050 and it is still going up.

True. There are trading bots there which you can purchase but, like pooya87 said, it is not because of bot. There might be something going on but in my point of view, this is just a fluctuation in price and nothing more. It's a natural movement of Bitcoin. It falls and rises but not really in the context of dumps and pumps.

bitcoin is small market that depend on supply and demand without control that make any change effect

Is it really about the bots,, because as far as I know humans or traders the one assigns codes to be followed.. What I mean is bots are just an extension of a human for automatication especially time constraint trading crypto having unstable price.. I think it’s more than that reason,, that makes it decrease and not a crash because it still a low one to call it that way..

I believe automated orders are also the culprit for small "flash crashes", and as the price goes further down, it starts activating more automated orders making it fall again. They might be stoploss orders or maybe orders to short sell, not sure, but the point is small sell downs cause a domino effect that makes the market fall more than it should be.

I seriously hope it becomes bigger soon. More stable. And also less prone to attacks mayvbe?

I don't think its all about the Bot. Some big entities maybe are attempting to manipulate the price, however, bitcoin has regained already and going to $8200 the last time I checked the price. Though, there are bots around now that might do some crazy things and uncontrollable so you still need some human intervention and not just rely to bots.