Bitcoin Forum

Few days back I was this close to buying BTC when it was around 10k, but halted for some reasons. Now I see the price is around 8.6k and I wonder why the sudden downwards trend! I see no major news out there (or maybe the statements of mr. buffet and gates?). What could be the reason and how dip the price can go?

just bitkoin reached a psychological mark of 10 thousand, now a little staggering. I think that by the summer the price will be about 13-15 thousand. And this is a great time to buy!

it's always like that, 10% price fall is just daily routine in crypto world, that is so volatile and therefore vulnerable to fud. I doubt you will find more simple minded unexperienced investors elsewhere than in crypto

First bitcoin never reached $10,000 few days ago and even weeks ago so i dont see what about that buying close.

But about the reason of falling maybe just like last January when MtGox moved huge amount of bitcoins and it happens again,thats why many investors ride with the trend so the outcome is falling prices,its another bloody market today and maybe for couple of weeks again,so get ready for dip and buy ,thats the right time to buy

People are there to sell at $10,000 after all the Bitcoin bashing by big names.

A steep correction, perhaps? There were no significant news circulating as of late so it might be a natural correction, or perhaps the Gox trustee dropped the bomb again on the market. Right now, this is pure speculation on our side and we will probably won't know what caused it. As of now, it seemed to have found a comfy place @ $8500 and hasn't moved down since. Key support level sits at $8200 and once that goes broken, we might find ourselves tumbling down hard again.

It was a combination of the largest korean exchange getting put on hold by police and the MtGox trustee dropping 8000 Bitcoin onto the market.

The mtgox thing is one time event (or well a series of one time events that have been going on since september) so the drop from that is over assuming all 8000 have been sold by now. The korean exchange thing could send the price lower or not depending on the outcome of it.

I've always said, the volatility of crypto industry that's normal. The cryptocurrency market manipulating so many ways, then we're experiencing a bit-reaction of price movement. Everything becomes red all of a sudden.
Here what i read: https://cointelegraph.com/news/s-koreas-largest-crypto-exchange-upbit-investigated-by-police-markets-react maybe the reason of falling.

This just passed by me too, didn't even realise there was such a swing. But nothing out of the ordinary to me, really. I mean, we just witnessed a $1k jump weeks ago, also in minutes, also as inexplicable as today's "crash" which isn't even half as spectacular as that last big spike we had.

Some circulation news seems to pinpoint Mt Gox cold wallet moving funds and others seem to specify a related investigation. As always, analyses comes after hindsight. Nothing to worry about. Just wish I could have received some income now rather than during the past few days, is all.

The market is just operating as it is supposed to. There are price increases and price drops. We are in the early stages of adoption, so it would be foolish to assume there will be any integrity attached to the price/value of Bitcoin until supply and demand has leveled out to some degree. There will be sudden price drops and sudden price increases, especially when the traditional "heads of finance" have had so much negativity to spread about cryptocurrency and Bitcoin recently. People see $10,000 within reach and they believe this is a good place to call it quits when it comes to the rollercoaster ride. Not enough of those recently adopting cryptocurrency usage are interested in long-term usage of the technology. Most are simply attracted to the idea of getting rich off a small investment, very quickly. This drives the price wild, as these people enter and leave the market by the millions.

That is perfect for you that you didn't bought. Now you can get 15% more Bitcoins fro same money spent.  I guess goddess of luck was on your side. Make sure to buy before price goes back up. again.

I believe I've read somewhere on the forum here that the dude from mtgox is dumping his coins, therefore lowering the price further. Can anyone confirm this or debunk? Haven't been following the recent happening lately.

this is very bad:

S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React (https://cointelegraph.com/news/s-koreas-largest-crypto-exchange-upbit-investigated-by-police-markets-react)

and it's a big negative news



probably this is it:

Bitcoin Loses $9K Support As Markets React To S. Korea Investigation, Mt.Gox Sell-Off (https://cointelegraph.com/news/bitcoin-loses-9k-support-as-markets-react-to-s-korea-investigation-mtgox-sell-off)

is a guess, but I really believe that this is the reason for this price fall, which fell a lot

It is just normal in my opinion, because as what I can see, bitcoin price slowly falling maybe because, in some minor reasons, it is not falling as big just like before. The price of bitcoin for me is still normal and I think we should be patient more and wait again to recover.

It was MT.Gox who sell-off worth 8,200 Bitcoin and make the whole market truly affected here is the link https://www.ccn.com/8200-btc-moved-from-mt-gox-wallet-possible-sell-off-affects-bitcoin-price/. I heard that still they have 140,000 Bitcoin in their wallet but without links then this will be good as hearsay because if this is true and sell all of these Bitcoin then for sure Bitcoin value will fall to as low as $4,000. So i suggest we must be vigilant all the times to avoid future losses.

Once again,bitcoin proves to be non predictable.However this price dip may help those people who missed the chance previously to buy bitcoins when it's price almost crossed 9,000 dollars two weeks before.

It seemed to hit the wall of $10,000 hard and recoiled back to low $8000 now. :-[
There always is a reason behind a drop in price in a 24 hour period.
And it looked to have a domino effect all happening in this time frame.
-$10k barrier not broken
-Upbit with the loss of EOS in fraud case
-Mt.Gox trustee appending massive sell off from reserves
http://bgr.com/2018/05/11/bitcoin-prices-today-falling-reasons/

the Buffet + Gates news was a failed FUD which came out a couple of days ago. it is a failed one because price didn't move a penny after that but the media was filled with the bullshit all the same.
the price is still above the lower buy support so i still wouldn't consider this a considerable "drop", but just a testing of the bottom support to see how the market reacts. it is possible that some whales weren't satisfied with the amount of bitcoin they had accumulated so they had to do something about it and make some short term profit and gather some cheaper coins at a good discount.

Correct, the WB + BG FuD is a complete fail. The price didn't move. On the contrary those 2 looks dumb based on their assessment about bitcoin.


They are really at a advantage from all of us. They have control and can dictate where the price should go. Its possible that someone manipulate the price from behind and in return needed more bitcoin because of greediness. And biggest impact though is the Mt. Gox trustee again. The ghost of Gox still haunts us up to his day.

According to some, some possible reasons behind the present bitcoin dump are: The korea exchange upbit fud; CME gap of 8550; whales accumulations closer to Concensus investors explosion and another Mt. Gox news on transfer of 8200 to another wallet. Whatever the reasons, bitcoin can always go back to higher price in the coming days.

There is indeed no major news.

This means to me that prices dropped most likely, and simply because of the resistance at the psychological $10k figure mark was too strong. Though it wasn't totally psychological, since we did test it a fair amount of times, and failed to breach it in any of these attempts.

I've been saying this for a while now, BTC has gone against the overall trend of the market back in April, and started this huge rally. That is normal, however, after these big rallies there will inevitably always be corrections, and that's what is happening right now.

i thought the price will passed through $10k this month but unfortunately the price was dropped again and regardless all of negative news i think the most influence cause bitcoin dropped since yesterday is mt.gox dumped bitcoin but i think the current range $8k is good to buy more bitcoin

Warren Buffett and Bill Gates have indeed released some pretty negative comments towards bitcoin, and I think that it definitely has had some sort of negative effect on the value of BTC one way or another. But it's definitely not the only reason, or even the main reason.

The primary reason here is probably still just a completely normal correction, after BTC couldn't get past $10k.

The growth that we saw in those first few weeks of the rally was unsustainable, and a correction was expected to happen, and was just a matter of time. Even though prices are going down right now, don't panic sell. Instead, this is a great opportunity to load up on cheap coins.

Were waited for bitcoin to reach $10k but as the usual price sudden drops. It always happening bitcoin could'nt surpasse the $10k value. Bad news affecting this decline of price for this trend, however we could not say for now how much btc could go low rather our chance to buy some.

According to some? Some isn't a source, and some doesn't know any more or less than what we know.

People for once need to stop with looking for reasons why something happened. Not that long ago with how the price was going down it was first due to South Korea, then China, then the SEC, then stricter Japanese regulations, then the social media ad ban, etc. It's all nonsense speculation based on nothing but just a silly assumption because the price was going down. It's going down for a reason, right? That's where people go wrong.

With current drop it's MtGox, the recent exchange hack, Warren Buffett. Smh. :-\

From the point of view of technical analysis, this is a simple correction, which is natural for any market. From a fundamental point of view (IMHO), according to the schedule, this sharp decline in prices is the result of manipulation of large holders of Bitcoins.

this is very confusing because in these few days the price is declining to this day and I have not received any reliable news for this matter. I just assume that some countries are making new regulations about bitcoin so that it has an effect on the price decline.

After some time there is something negative about bitcoin and it affect the price. Affect is always negative because people sell their holdings or do not buy more bitcoin so the price down. It happens many times in the history of bitcoin. But apart from all these opponents bitcoin made its place on the top of cryptocurrency market and it holds the highest market cap in the row.

Yes, you are right, still, there is a huge chance for people who want to buy the Bitcoin at this stage because there is huge chance Bitcoin can easily reach to $10k easily this time. Mt.Gox sold a lot of coins in the market and most of the people are panic about the market and Bitcoin price start decreasing in the market.

every 6 months or sometimes 1 year we have a new hot subject for FUD which will then scare newbies and the market experiences big crashes. the MtGox coins are the new hot topic for FUD this year! and it will remain hot for some more time. there is no truth to it and it had never have any real effects on the price because these coins are absorbed by the market without anybody even noticing but when the FUD is being spread and the panic starts everyone else starts selling which causes the crash.

The FUD this time was about moving 8000 BTC, we don't even know if they were sold. Yesterday in a period of less than an hour the price shot up from $8320 to $8820 on volume of over 8k on Bitfinex alone. People really do attribute far more importance to the Gox coins than they deserve.

When there is such huge dip in the price without any price how one can guess anything about the future of that thing. May be the price fall more without any reason. Till this day as I noticed and observe bitcoin, it is the crypto for ordinary people. There are some whales that want to loot the hard earn money of people and they will never let you make profit from bitcoin investment.

That price drop was really normal nowadays, 10k was never reached this month neither the last which is a strong resistance to get that price past, there are a lot of factors we have to consider, Normal corrections or trading activities, as you've said those statements from bill gates and buffet which was released recently and the Mt.gox wallet contain thousands of bitcoin being moved.

The samething has happened today as the market has taken a very serious drop for the past few hours. Ethereum that was making significant progress has dropped significant this evening and I have not ley my hand on any information on why coins are dropping in prices.

That would have been the biggest mistake of your life. Since you did not buy already on the breakout, normally you should have waited for a break above $10k even before buying. Moreover, if you are a trader who knows what he is doing, then you should have noticed the bearish divergence on the 1 hr chart as well to know that was a danger zone to be considering buying unless a breakout occurs.

All the above, anything can happen in a market at any time and that is the reason every trader do not usually do without their stop losses, so you just have to get used to it.

97% of the top 100 coins listed on CCM are in red, so I would say it's not a bad sign. It's not like if Bitcoin decreased by 15% while all others coin increased by 10% the same days. The crypto market has always been like this, playing with people nerves.
I think I am ready to bet some bucks the next week the BTC value will come back near the $10k :p

I strongly agree with you LeGaulois!

It is the crypto market as a whole that has been struggling.  If the alts are doing perfectly fine and bitcoin continues to drop, then it is a very bad sign.

And hey, i like your sunny disposition, keep it up!

The incident is a natural and common occurrence of cryptocurrency. It also happens to Bitcoin, this is what causes that Bitcoin is an investment that has a very high fluctuation rate. But behind it all actually we are given a very good chance, when we can take advantage of the conditions when the price increases and when prices decline then we will be able to get a profit margin. Believe each condition will definitely have its positive value. Believe me and do not worry because we all believe that the price of Bitcoin will increase and much better than before. We must be a part of success and that is the thing most awaited by us all.

Whats the reason for the price dump today? Gone from high 8000s earlier today to 8200 now.

What's happening with the market is unpredictable and at present there is no specific reason for the price dump. Nothing has been found speculative in the negative manner. More and more good news were coming out helping with the growth. Maybe this could be a correction happening for a forward push.

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I don't know, but I suspect that some fuckwad whales are cashing out on the bet that the positive infor over the meetings and potential future will support them cashing out above 8K$.

Jackasses they are!!!!! Fuch em!!!!1

Cash out whaleshit and please suffer as you watch your fortunes waste away in fiat!!!!
Bwahhahahahahah!

Yeah, it was really a psychological level and the truth is that there was not much volume to break out above it, otherwise we would have seen some buy ins within this period.

Usually, we cannot expect that there would not be some correction, probably a little one and probably go back to test it again and then break it with volume. However as it is, bitcoin is witnessing a complex correction and it is only time before we may get to know exactly where we are headed.

Many had thought that price of bitcoin can surpassed the level of $10k. Many reason's these sudden price drops and I thought also were entering the bull seasons. But, again price on below 9$k so it might this coming days changes will happen with the market.

Lol the market is playing with us and most of it falls on those people expecting so much from btc that it will pump to a certain price in days. It can't be helped. Who knows tomorrow we'll have another 1k surge in a few hours to hit 10k. This has been happening for the longest time so i think by now we should all be used to this

most likely its decline in this price is the bitcoin itself losing the support of $ 9,200 as the market interacts against south korea. from cointelegraph tracker data bitcoin prices began falling again to lows around $ 8,540 while altcoin markets such as ethereum suffered losses of up to 12 percent. hopefully the future of its price will soon recover and we have seen the appointment of the current bitcoin price at around $ 8,830, it's the upside and the beginning for its forward progress. my prediction the price will break or past the $ 10,000 price back it will happen in the next few weeks.

Bitcoin proves to be non predictable one.Today the price of bitcoin reach to 8100$,it is the time  to buy some coins at the fluctuation.If you want to get more dollars from your money,you can consider now.This type of fluctuation is occurred from this new year starting,don't worry for this.

that uniqueness of bitcoin is unpredictable, it is uniqueness that invites lots of people and new investors to invest in bitcoin. the current price is the most appropriate price to buy and to double or multiply the money we have, before the market pumps the price back and the price becomes even higher in the next few weeks.