Bitcoin Forum

Does anyone know what happened to the market? I know it is a good time to buy but just wanna know what happened that trigger the huge sell off and price reduction.

Cryptocurrency is falling today because of market corrections because the market is currently oversold and most traders would always maximize their profit in a short term. Traders and whales doesn't always buy coins and stock them up, most of them just buy at low and sell at high in a oversold market.

Thanks. Can I say that they buy and hold them for a couple of weeks for this case and sell them since past couple of days?

The current plunge can be traced to a raid on the offices of the Korean Exchange UPbit by Korean Prosecuters. Since Korean Exchanges are forbidden from having foreigners as clients whatever the outcome will be highly localized and presents an enourmous gift to those looking to buy prior to the Consensus 2018 conference in New York.

Here is an article on Bloomberg about the raid. https://www.bloomberg.com/news/articles/2018-05-11/cryptocurrency-exchange-upbit-raided-by-south-korean-authorities

I also heard the news and I'm sure all users on the exchange are selling all of their crypto assets in a panic and creating dump.
https://www.google.co.id/amp/s/cointelegraph.com/news/s-koreas-largest-crypto-exchange-upbit-investigated-by-police-markets-react/amp

indeed that is the world of cryptocurrency, will not forever continue to increase, and otherwise will not forever experience a decline, this is certainly the case, because a few days ago crypto was really at the highest price

many factors influence. one of them in my opinion is the number who sell from the buy. this may be the effect of soaring prices that occurred late last year.

It is normal occurence in crypto market, it is not always green or what crypto is volatile it can experience upsand downs. It is always good to buy @ low price knowing that it will comeback again in the future.

South Korea's biggest exchange UPBIT surveyed, because there is no actual false modified data under the condition of preserving encryption currencies, suspected of cheating investors, influenced by the negative news, encryption back currency market as a whole.

I guess the reason of crypto fall now is because of 8500 btc dump recently. This give huge factor to make the market back on red days. But these is not the only one, tgere are big whales or known individual in crypto making fudd for reason to dump the btc price and buy at this low rate. Its will be good on them but for as a small type of crypro user. It will affect as so deeply, so dont trade for now wait to recover the market and be healthy again

There is many factor which cause that. But I think it's because of Whale. I hope it will recover back and no more any bump again.

https://www.ccn.com/8200-btc-moved-from-mt-gox-wallet-possible-sell-off-affects-bitcoin-price/

Is the price down due to this?

It's bear market once again and this is right time time for buying btc and altcoins at a much lesser value. Current fluctuations seems to be an adjustment period for the crypto coins and once you had bought, then you'll have to hold again and wait for it to recover again. Don't get too much affected by this bear market for it will not stay that long and will revert the down trend back to an up trend mode market.

Before all known consensus conference, it is necessary to make the price of the cryptocurrency more affordable for large players. We are waiting for the conference and the next rapid growth. So for now you can relax

It might be that some whale is trying to pump the price and to do that they need the price to fall low and they can buy in. Either that or the market is just following normal market movements and going back down after being up for a while which means it would only be a matter of time again before the price goes back up and we are back in green again.

I think it's because technical factors. Recent weeks we saw increasing of the market and now it's time of correction. I think the correction will stop after the beginning of the Big Conference

Might just be the markets correcting. I haven't seen any recent FUD that might affect the markets so drastically and I doubt it's the whales as well so.

I don't exactly know the reason. But they are always fluctuating in this market. It's  a good time to buy and hold coins. If you are patient enough , long term investment can bring you a good profit.

I will suggest you to keep calm because before a major event there always a drawdown happens no need to do panic. Keep your eyes on the market the price will rise soon. And I have heard that there was a problem with an exchange in Korea. I hope this will be solved as soon as possible.

I'm generally steering clear of my portfolio at the moment, aside from dipping in now and again to do a quick top up on some. Any news seems to have an exaggerated affect on the markets, so keeping my head above water and building it up very slowly seems to be the only option.   

I think that news about Upbit cannot evoke such fall. That tendence is normal in cryptocurrencies, market was grow in 10% everyday.

In anticipation of a big increase, "big uncles" piled up prices to buy! In the near future, good news on crypto currency is expected! And we will all fly to the moon!

There are many factors to it and correction of an oversold market is just one of them. There is also the news and fake that affects some peoples decision specially the newcomers as they are forced to react and panic to it. Their is also the influence of the whales and pump and dump groups that will instantly pump a crypto and then quickly dumps its prices to make their profits.

I think this is just a conspiracy of bad news that attacked bitcoin I see MTGOX make the act again by moving some bitcoin to the exchange place that makes the players fear if dump will happen.

I still do not understand what was the reason for this fall on the weekend. Fortunately, now the situation has stabilized and almost all the coins have regained their positions.

To this day, when the market rebounded in exchange rates can confirm the sudden drop two days ago is because the investors were selling cryptos because of profit. And now prices have risen sharply again. And if growth continues like this, BTC may increase to $ 20,000 by the end of the year and ETH by $ 2,000.

Something happened on South Korea that brought fear to many traders.

But the fear has been done off now I guess and if you bought during $8,000 you are now in one of your happiest moment of your life.

Because you can now sell.

Fud news everywhere, Keep holding bro, if you have patience then i 'm telling you this the next bull run will start after consensus meeting that will be held on New York, USA so better accumulate some and hold for the next few days.

who the cryptocurrency falls today is because I know the market today is greening and that could be good for the future and you can benefit by selling your altcoin now and before the market is red you better sell your altcoin now and if you are afraid better you are holding your altcoin

There are so many reasons of price fall. But I think the main reason is demand and supply. From last few days some news are affecting traders that could decrease demand.  And it might be the reason of price fall.

just as our brother said  the market is currently oversold. that is the main resaon i guess. i am happy bucause im going to tread, people like me always waits for this kinda falls.

Markets are coming back up.  Gemini just announced that they'll be adding Zcash, Litecoin, Bitconi Cash, Ethereum Classic.

Source:

https://www.forbes.com/sites/michaeldelcastillo/2018/05/14/winklevoss-brothers-bitcoin-exchange-adds-zcash/#43b19286b98e

Zcash already up 30%

Now the market is at the stage of correction and it is very difficult to guess the moment. I bought a month ago, now I just have to wait. I do not advise you to sell something in the near future.

Its very normal. You cant expect always green green.We should see red, relax everything is fine.Market will increase.

It’s absolutely a normal thing in crypto currency market to fall and rise. You won’t be expecting the market to be always be nice with you and falling would be always nice time for some traders while rising in market price is as well nice for somenotger traders who are bagholding while it was red.

That's been mentioned as a reason, but logically I'm not sure it makes the most sense... the Mt Gox seller dumping 8K btc (plus bch) probably was the reason.

And unfortunately he has more coins to sell, so this won't be the first time we see an unexpected dump.

It's nothing new, next corrections in cryptomarket which lowers price coins. If you are here for some time you should get used to it. Now we must wait few days and everything back to norm.

I think that the reason for the fall, which happened several days ago, was news about the problems of the Upbit Exchange. I think that now everything is fine and you can buy different altcoins

I think we are witnessing a massive injection of altcoins which is crippling the growth and movement of many other cryptocurrencies. This saturation of altcoins is also partly responsible for the inability of bitcoin to mount a sustained bull run.

There are a lot of reasons why there has been significant drought to the market and we are striving to recover.

If he's about to sell then he should wait for a better price so that everyone could ride him along. But I guess he's also in panic and he just want to get out of the market until he can.

I think this is part of the changes that we accepted in crypto currency as we all know that it is volatile and we need to accept that as part of the changes of it.

People are constantly involved in dumping, and some people will re-enter the encrypted world. This will not change. Most of the time, they will be in a state of equilibrium.

We never identify the real cause  why crypto currency is falling down,one thing of it's down fall is when we  apply the law of  supply and demand. A lot of  different  new coins in the market  now, and the result is very strong competition and it affects much the value of each coin.

Once again, I have to say that the OP is making the mistake of looking only at the short-term trends. We need to remember that the exchange rates are still 8x greater than what we had almost 1.5 years back.

The market values of the crypto coins are falling and that one of the major reason behind that was the decrease in the demand rate of the crypto currencies and other than that, panic selling is also one of the major reason because of which there is a downfall in the market value of the crypto coins. However, the market value of the crypto coins will surely rise in the future and that we need to hope for the best.

The news I saw was because the Korean Exchange was investigated and it caused market turmoil. I am not sure whether the news is true or false, but there are many places where the news is false. The most real information we can know is the currency price.

Too many people were waiting for growth in connection with the Consensus of 2018. But as you know, the market acts against the masses. I think this will continue for the next few days

I think the market will on side away and correction until in a few month more, because not yet any good news that can make more demand. To make profit from this situation the best thing do is day trading, dont too much take profit because situation of market not support the price going up to the moon. Could be in the last of this year the market cap will increase double and all crypto will also increase.

Yep this is the normal cycle in the market and not only in cryptocurrencies but with stock market too.

Dumping in a way to make money and then later on will set a good entry point that they'll make them have good enough profit.

There's no reaction for now but maybe after the day or two or week we'll see the growth again.

I think the current reduction of cryptocurrency is a natural thing and that is the cycle of rising and falling coin prices. so this will not last long and can serve as one of the benchmarks to buy and sell.

The cryptocurrency market at the up, down is normal. Today, the price of coin in the cryptocurrency market has gradually increased. The market has turned green, signaling very good signal and good news for investors. Compared to early 2018, the cryptocurrency market is stabilizing and developing.

There is no need to worry about these short-term minor price swings. Crypto market is a very young market so more volatile than established markets so reacts faster and more to any news. The crypto bull is intact and the big trend is up so stay with that.

Personally, I think, I would advise you to stay calm because before the big event there is always a withdrawal happens no need to panic. Continue to watch the market, prices will rise soon. last week we saw an increase in the market and now it's time for a correction. I think the correction will stop after the start of the Great Conference.

   Old holders are cashing out, new people are buying. There are more
sellers than buyers and price is dropping.
   Members here should pay attention on your post Sephire. We don't
need to worry about minor price swings. Crypto- market is young, there
will be many more bull runs in the future too, like until now.
   Price can't go up all the time. More and more people are starting to
trade. 24/7 market means a lot of people buy&sell all the time, it's
normal for prices to have fluctuations. Who plan to invest in crypto-currencies
should be aware of that.

This drop is normal. These are not too large, especially in the current volatile market, many situations will fall. So just make up for the shortfall when you fall, and then you will be more and more. Collect more chips.

are we too dependent on the result of the concensus? i think the market will act positively on this so called act against the masses because the more you push away the market to the masses the more the market strive to cut a piece on it.

Maybe one of the reason is crypto currencies were got banned from Google, twitter, facebook and in instagram, these kind of action from the assets of crypto currencies can really affect the market situation. Aside from this their are many panic sellers in the market that oftenly shaken when their is undesirable situation of the crypto currencies.

the ones I see today do not fall and are currently re-greening and I'm sure the market will recover in a long time because many people are waiting for bitcoin prices and altcoin prices are back on steady and I'm sure the market will be good by the end of 2018

Cryptocurrencies are currently falling perhaps this is due to the resistance that is so strong that it had hinder the growth of cryptocurrencies. Other factors, are just merely negative news and FUD's could add the dip on the cryptocurrency and maybe it's just the correction period where it is gaining momentum for another rise in price hopefully to  recover soon.

in fact, this is a common occurrence. but it is exacerbated by too many panicked and quickly sell their crypto to avoid big losses. Thus it will make the price of getting down and plunged in. the panic is indeed still a hard thing to overcome in trade crypto.

I also heard about this news. It was the exchange’s own problems that led to the seizure. However, one thing I do not understand is why one exchange can have such a big impact on the entire market. Lead to a few days of decline?

I am afraid we will see this kind of fall until MtGox bitcoins will still be in their wallets. It seems like the guy is dumping it step by step and forcing the price to no reach its potential. That and all the regular FUD.

Crypto money has been depreciating for a long time not today. The reason is that there is money out on the market. The distrust of virtual paralysis continues.

I think the market is currently shifting to a fairly regular decline in recent days. although the correction is small but very unstable. yes, I guess I still can not summarize what happened actually, I have not done any technical analysis research. but I think a small correction is common.

The markets are very fragile and I don't know what the cause is. Crypto currency investors want stability now. Declines are usually due to bulk sales.

Yes, it is still a sustainable decline if we look back from the previous years. Its falling but I think its a part of its volatility because there are more people are now engaging in crypto, so the more people who buy or sell on a particular coin then the more its impact on a market changes causing an abrupt falling or rising on its value.

It is difficult to grasp the trend of the market. I often rely on my spirit plus a little luck to get some profit.

If I have to answer this, assuming that we are what more than 1 week after you have posted, here are some of the reasons that I can think of:

1. Bill Gates and Warren Buffet saying negative things about bitcoin and crypto
2. South Korean exchange Upbit is being investigate by authorities
3. The India drama is still ongoing
4. Paypal CTO claims Bitcoin price too volatile for merchants

To summarized, a lot of negatives news lately that put too much pressure on the market, resulting in the price going down and continue to struggle up to this day.

People are dumping again. They were all waiting for the price to recover to a certain point and once the price started nearing the $10000 mark, huge sell walls went up and people just dumped their coins on the market and that is what is affecting it right now and the price will keep falling for a while before stopping and then starting another recovery trend. The FUDs are not helping matters too.

Although this does seem like a good reason for the prices to fall, I can't help but wonder that the new of the ban has been around for quite some time now so why is it just affecting the prices now? My bet is on a dump and someone should check if Mt Gox is selling again as they still have a very large amount of coins left to sell and there is no doubt that selling those coins will really affect the prices of the coins.

I do not think that the behavior of bitcoin during these first two weeks of May is especially bearish or markedly different from what has been observed in recent weeks. In fact, I think the price has remained fairly stable ranging between $8,000 and $9,000, so I would dare to say that the conditions are given for this summer to be quite stable.

The simple fact that the drastic fall that brought the price to the $6,000 line has already stopped is a good sign, so after this stable summer we could expect bitcoin to resume its uptrend to close the year in a brilliant way.

Cryptos are falling because a lot of money have been taken out of the market. If the amount of money that is leaving the market due to selling does not match the amount of money coming into the market due to buying then the prices of the coins start falling

The market has not yet come out completely with the winter correction so he still has to show the full potential  ;D

Well, in the crypto currency it's normal to see the irrational movements of the currency. But the chances of becoming into the top of the market back again is still an interesting article that we might be able to watch forward.

cryptocurrency may fall at this time because next month cryptocurrency will rise in price because I know a few months ago the price of altcoin and bitcoin also decreased and the market was in a less stable then with the current cryptocurrency course we do not have to worry because next month will be good again

the negative news about bitcoin keeps coming. today the crypto needs positive news for the uptrend and the price can start recovery again. but look at the current condition roughly what positive news will come? I'm too bored with the negative news about crypto >:(

I am used to the constant decline of the encryption market with a lot of negative news. There will be a rise in the fall and continue to wait.

I think this is caused by the global economic downturn. The EU has fallen into crisis. The Middle East may be the fuse of the Third World War. I am not sure about the impact of the economic crisis on cryptocurrencies. All in all, as far as I know, cryptocurrencies can be extreme. Everyone must invest carefully!

many things that affect the current market price, ranging from bad news that continues to circulate in the world until the economic crisis. but do not panic easily with this persistent decline, stay optimistic and be patient as the rise will be coming soon.

I can't name the true reason for it, I think it's mainly because of negative news about bitcoin. I just wait to the Consensus 2018 and believe eerything will be much better.

currently may be said is the right time to buy.
market decline due to many factors.
including hacker attacks, government regulation, fraud,
and many others. but the outlook for the future is still good.

At the beginning, it may be due to some negative influences that caused the market to fall, but the next market drop I think is because people have generated fears and let them panic selling their holdings of coins to cause the market to fall!

The exact reason for this drastic fall cannot be really understood and so many reasons contribute to this. It might be due to the rate at which people are selling due to fear of loss or maybe due to government regulations or the market is just going through correction to for people to buy and the increase afterwards. We only wish the market regulate itself and prices of coin should increase.

I'm generally steering clear of my portfolio at the moment, aside from dipping in now and again to do a quick top up on some. Any news seems to have an exaggerated affect on the markets, so keeping my head above water and building it up very slowly seems to be the only option.   

In my own understanding, cryptocurrencies are now in the correction period wherein it has been happening several times already and later will be back on track where market price value will start to recover in the coming weeks. Other factors could have been because of the whale investors manipulation on the price value and negativity of news in the social media outlets.

many aids plain. ace of them in my viewpoint is the programme who betray from the obtain. this hawthorn be the after-effect of glide fees that developed late extreme year.