Bitcoin Forum

I dont normally pay attention to intra-day trading details however today i happen to be watching the fall and looking like 8000 was going to collapse (Gdax went all the way down to ~7500).  But then...

Around 12:45-12:50 GMT the markets reverse.  And i dont just mean Bitcoin, everything reversed for 15-30min, with double-quadruple the volume of the previous 15m period.  It was like a switch was turned on and everything just went from sell or sideways to buy, buy, buy.  That isnt very normal, not without an event and even then you expect a ripple through the different markets as one rises and sentiment cascades across.  Or is the market that irrational, was there some news I have seen, i'm open to conspiracy theory too.

Anyone know?

Nothing that I could deduce. That could be the spiking of the market which is more-or-less caused by market sentiment. The sentiment is usually not caused by news, most times it could be an empathy either for over buying or over selling. 

Maybe a factor, would expecct reduced fud leading to a gradual turn around in the market days.  What seen in the trading is similar to when a government or similar central authority releases unexpected positive news, and the market just presses Buy on everything.

Its as if a million bots cried out in joy.  ;D

It's just someone shaking the tree to drop weak hands ;-) It's working... I'm noticing many people sell off their crypto in a panic (I tell them not to....)

Generally when everything turns around at once that is a super bullish sign and I am not saying that because I want it to happen. I have witnessed it several times before, and if that is what occurred here I am stoked for the next couple of weeks it means we are almost out of this rout!

I have no idea , would be interested to find out some real explanation too. News yes , influence a lot , but I am sure there is something else.

Biticoin may be expect reduce leading. the market its some one something work may peopel sell the crypto peric

I speculate that someone is on the buying mode at that time.  :)

The prices of all crypto are really cheap. It only makes sense to get while its still at a discount price and just hold. So it make sense that maybe a casual or even whales sees this big opportunity to grab more cryptos in their portfolio.

Everything is based on speculation, if they heard or see news around that convince them to get it now then its all good. This has been the behavior of investors, irrational but it really brings positive vibes to the market and other follows. We hope that this is sustainable in the next couple of days so that we can all breath a sigh of relief.

I think it's just that a lot of people have sold everything during the price drop. They know that prices will rise again so they're waiting for an entry point. They also know that what tends to happen after a huge dip is a very sudden rise. It's just people trying to identify the lowest point so that they can get back in. We can expect plenty more extreme volatility until this eventually settles down.

Okay... so I was looking at month chart for KMD and noticed a marked bounce on the last "correction" on 16th Jan. Nice supprt level i thought.  Just looking at EOS and note the same thing.  Random choice looked at Lisk, same, looked at few others... about 15:39 on the current Coinmarketcap graphs, coins $ price and BTC price sharply rise, and as BTC/USD is rising.  Not everything but a number of major coins show this.  Perhaps i'm reading thing wrong, looks a lot like coordinated action across multiple markets.  

The bots are legion.  LOL.

They are getting ready to create more debt for the people who are going to rush out and buy Bitcoin with their credit cards. :)

Big players sell bitcoin, the people follow them, then larger players buy cheap bitcoin and then profit =) All up.

Absolutely top of all time the price may not go up, red days should also be present at the same time don't forget coming soon from China new year , and people are also withdrawing some of their funds and not it's not important enough for the market. Let's hope that soon everything will go up, and now more than ever should be purchased by Alta =)

From the market's standpoint there were 2 major support lines. 8800 and 7800 USD (bitfinex chart) And of course above that was 10800. Once the top one broke we could've landed on the mid one and there actually were 3 attempts at defending it and breaking up but it eventually went down. As you can see there were a lot of buyers who were setting up orders above the predicted trendlines (for 7900 the orders piled at 7960) so they knew where it was going to stop and got ready for it. It was a correction, not a crash, although deeper than I had expected. None of us could predict the India FUD.

If you look at the BTC price since the peak in December, it's been punctuated with a number of rallies. The price falls, then rises a bit, but then falls again.

It's not possible to predict the price of a market like BTC at all. But, a fall then turnaround like this has happened several times this year, and it hasn't meant that the price won't, overall, continue going down for some time yet.

In market terminology there is what is called a 'dead cat bounce'. The saying implying that if you drop it from high enough, even a dead cat will bounce. Price falls are often followed by a rally as people who have more faith in the investment will perceive the price as cheap and buy in, causing a rally after the fall. Only time will tell what will happen to BTC price.

But, in terms of Bitcoin, I don't think these incredibly bullish short term predictions that we see in many posts are helping. People are predicting recoveries within days and weeks, and you appear to be predicting a sustained climb. If these' don't come about then observers may not the failed predictions, and conclude that those making the predictions don't know what they are talking about. That leads to less confidence in the market, and further falls.

I also ask my friend this question yesterday and it seemed unaswer to me. Why all the coins are raising and falling at the same time and we have different market for them. If you view the charts at https://coinmarketcap.com you will agree with me that everything is moving almost at the same rate. Bitcoin as at yesterday was getting dump and most of the alternative coins was dumping at the same rate on the charts.i have started to think that someone is manipulating the market!

Bitcoin bounced off the weekly average and every other coin follows bitcoin. Its really simple.

Major FUDs released a few weeks ago have now been cleared up, and most people are now confident in buying back again. The overall market sentiment seemed to have changed from pure bearish into bullish, but I wouldn't be so sure about it yet. The price is stable right now, and a brighter week is ahead of us since the selling pressure have been lifted on most exchanges, but then again, this could be another bull trap to still cleanse the market of weak hands.

personally i think there are two reasons:

1. technical anaylsis based traders / hedge fund - automated trading
2. whales automated trading