Bitcoin Forum

Hello, do you know why today is another big drop in crypto market?
What is happening? I thought that there will be positive trend because last day were green.

I am now looking for a reason on the forum. Such a good upward trend yesterday, but it has fallen so severely today, I am now very confused! ETH even dropped by 10%!

Whales want to get rid of holders and small investors by crashing market again and again this discourages holders and encourages them to sell, on the other hand these whales have set buy irders at cheap prices to buy cheap from all the weak hands, this is all market manipulation, long term holders will win in the end.

Do not panic. This is a very good thing and should continue to fall. The bull market will be back soon. Don't be afraid, friend.

I am scratching my head too. I seen the news about Mt Gox not selling Bitcoin anymore, it is supposed to be a great news for all. Nevertheless, I am holding my bitcoin for sure.

Because the Japan Financial Services Agency issued a notice of punishment for the six cryptocurrency exchanges.

Market down cause by Japan tight up control on exchange

https://www.cnbc.com/2018/06/22/bitcoin-tumbles-after-japan-watchdog-orders-exchanges-to-review-business-practices.html

The only reason because bitcoin can't break another resistance and remember the bitcoin futures contract has already started and it looks like people are following it. The whales will try to accumulate more bitcoin. The positive trend will continue if the bitcoin can break the resistance around 7k and in fact, it can't even break it.

That's right. We can observe that the BTC can't increase much now. And after green days, there is always red days.

It shouldn't have that big impact into global market , this just makes people in FUD for longer period. The drop caused by the support below $6,200 broken ,simply like that. What factor? Various of course, I just think the market currently building a strong downtrend line , look at the amount increased yesterday... Around $500 and today dropped nearly $700 , possibly go lower. Hopefully not.

Previously I also thought there was a positive trend because the greening came but somehow this day gloomily drooped straight down like water ,well maybe there was FUD news spread so everyone panicked selling maybe

EOS falling faster than others? who knows the reason for this? Don't understand why this happens again and again? Mtgox can't sell BTC now because of law, this must be good news. But again red candle.

This is not a big deal but a loss for some people who invested more than its value right now.  :( upon reading the articles they will just fix the problem on money laundering maybe some people might it be using it for making money and that's will take against the company bitflyer.

Somehow this kind of news can affect the price, I think government control on Centralized Exchanges is a natural thing and against money laundering is an obligation for Centralized Exchanges.

Merited you for this!    ;D

I agree with you, this is a market manipulation but in this circumstance we can also take advantage. sell when the market starts to green and buy back when the price goes down but all it must with a mature calculation and should not be greedy in determining the percentage of profits. that is the strategy I am using right now and I am not asking anyone else to do it

I heard that this drop was the result of an announcement that the Japanese government is going to make it harder for people to launder money using cryptocurrency exchanges. Basically it’s tougher regulations to stop some criminal activity. Any time a government imposes more regulations, it tends to affect the price. This is going to probably continue to happen.

One of the reasons might be bitmex dump or a very unique block hash generated on bitcoin block chain which was #00000000000000000021e800c1e8df51b22c1588e5a624bea17e9faa34b2dc4a !

AML / KYC events in Japan and Mtg Gox btc and bch sale. On two occasions the same day.

This big drop is unexpectedly comes in the market and many of peoples are said whales are involve in this drop. But I thought some regulations are occur in some countries so this dump is just a temporary problem. Again this will going to raise in next week.

Seem like famous people published more bad predictions about cryptocurrency market and seem like it's the main reason for this falling :). I don't know why so many guys still believe in predictions :)). I don't believe anyone in this cryptocurrency world although it's MtGox or John McAfee :)

If the market continues to fall, there are many weak hands to sell their cryptos and whales will be rejoicing because they win the war against weak investors and massive panic selling is rising that's why there is instant down of the market prices of cryptocurrencies. Holders of the established coins and investors with strong belief in what they hold will win in the long term. Just buy the dip and Hold.

Whales did not exactly put their hands on it, it all depends on investors who are in a panic and desire to get the remaining money just out of the market. This is my opinion, but it seems to be the most probable assumption that it is not helping the bulls to win, but on the contrary they interfere.

Japanese Regulations are scaring the investors. Kraken pulled out. Binance pulled out of Japan. Currently, Japan sent a suggestion to improve the business Governance of AML, Compliance etc.

Japan's seems tightening regulations could be the reason for the deep since Japanese are the highest volume traders by volume.

At the present time no serious reasons or negative news for the fall of the cryptocurrency market. For the last two months, since the beginning of May, trading volumes have fallen rapidly, which naturally drags down prices and losses in capitalization.

Actually, FA isn't really supporting the market trends. Neither TA is of any help. This is all because of the market manipulation by bulk hodlers aka whales. No one is able to predict short term trends nowadays. In long term that is during the year end, there will definitely be a bullish rally. But market has become unpredictable to trace the next price move. Volume has been hovering over $250 Billion to $350 Billion for quite a time now. Unless there is some significant change in volume, nothing can be said about the next price move. Market has become irrational lately.

That could happen again in coming days, i am just scared about lenght of that period, i believe that in next 30 days market will show us some possitives moves, that would be perfect.

AFAIK, bithumb got hacked and it's really destroy bitcoin popularity and panic sell is inevitable !

Of course as investor, I keep hold as long as possible because I know this day would come but I'm not expect this happen to soon !

Not sure where you guys saw an uptrend from, but what happened before this further downtrend was a bear flag, but sure, I do not understand everyone to get that. The market is still in a downtrend and we are not out of it, and until further notice, there is always going to be a possibility of going lower. If you cannot trade, just hold as the market will still recover no matter how low it gets, and if you have bucks to accumulate the dips, now is the time before you start regretting you had the chance to buy lower and you did not.

Trading volume are always bound to reduce when there is uncertainty in the market, so, it is nothing unusual. For now, we just keep close watch to see where we get to see the bottom but it seems we ain't close. Anyone of us may end up wrong, but we are in a bear moment and anything is possible.

Big drop is because South Korean exchange Bithumb was hacked for $30 million, and Japan’s regulator FSA has crackdown on cryptocurrency exchanges. All the things are going wrong now. Bad moments...

Hope this does not turn out to be true and we should not face any such issue that price is crashing badly. The period seems to be get over soon and people who had being waiting patiently will discover the true price in coming days when it starts to rise back again and get dominant.

I guess these are taking place to clean up the unnecessary investors in the market and the small numbers of overcrowding in the extreme and to make a better way.

I don't know what happen to the crypto market I don't see FUD happening or negative news about crypto, I think the weak hands sold their bitcoins.

To be honest, I can not understand your line of thinking. What do you have in mind? How does the market drop clear the society of investors?

It may be related to the bithumb hack, it is hard to tell.

Just be patient.  There is no need to stress out over the small price dips.  Yes I consider these dips small even though they may look huge to new investors.  Zoom out and look at past crashes, this is nothing new.  Bitcoin once fell from 30 dollars to 2 dollars and look where it is today.  You need a long term mindset, not a short term one.

It looks so difficult consider the volume is always decreasing time to the time. Even the first major exchange site just like binance's daily volume trade is less than 1 billion dollars.
it looks like until the whale will pushing back the market and the demand will be scared to jump in.

Maybe market just reacted from the recent FUDs which was the hacking of Bithumb and the questions about Bitcoin's legality worldwide and many more. Huge capital was pulled out from the marketcap causing Bitcoin falls down to $6100+. This is not new to me. I think whales are manipulating Bitcoin to scare investors and sell their Bitcoins so they coulld get handful of Bitcoins. Some analysts predicted that Bitcoin could rebound to this price which contrary to what markets movements and it makes investors lose trust to Bitcoin and i think it's a possible reason why Bitcoin dropped $700 of its price. We all don't know what's the reason why it drops hard.

I think that it is not profitable for strong players to have the price go up. They want to drive people into such conditions that no one knows what to do and in a panic began to sell all of their coins in a minus. And many now do just that. At the current market I think that we will go as low as no one expects, and only after that the price will begin to rise. So have patience.

Due to the recent Bitthumb hacking, the market have lost $17billion and it greatly affects the prices of altcoins like Eth and EOS to be specific. Bitcoin are also reacting due to the huge sell out of these alts, adding also those people who dumped their alts due to a worse bear run.

I think the normal thing this is the last correction in my opinion, bitcoin will not be below 5k, if bitcoin 5k kicking soon will bounce quickly

Damn, it's so bad when big exchanges are hacked. I really don't understand why they can't have better security, and avoid terrible situations like this. There must be something that can be done to prevent this hacks.

I'd heard of South Korea’s exchange is hacked and that might be one reason causing the market dip again. ETH just went up to 540, now is back to 460. So low..

That is such a big amount of money and it can seriously gives a big impact to the sudden drop of the cryptos. Mostly coins are now in bloodbath so let us not be panic about it and what we should do for now is to buy some coins while it is still in undervalued.

Good note mate I also think that such news wouldn't affect the market so much, the Bithumb hack didn't make such impact but it was much more loud. to my mind the news start to affect less on the market and of course it's the whales game.

 We are now almost 6k flat, there are no such definite reasons why it continuous dropping though there are factors to be considered like regulation, FUD, and the recent hacking incedent, all of them are mere speculation but wait, maybe big whales can create the big changes because they can manipulate the supply and demand in the market.

According to the technical analysis nothing bad happening everything in the normal range. We still in downtrend channel with a target around $5400-5600. Don't worry it will end soon just be patient.

Probably the downtrend comes the hacking incident in South Korea hackers might be dumping their hacked coins in the market that is why the volume of seller had been increasing that cause price fluctuation.

That is with the whale try to manipulate the market in low volume could be the result of all we see here: downtrend with nowhere clear sight when uptrend happen. It accumulates phase for *someone*, for sure.

I am also curious as to why the market suddenly fell so drastically. In my opinion, the manipulation of prices by whales is only one aspect. There may be another reason that someone is dumping bitcoins in large numbers?

Probably the downtrend comes the hacking incident in South Korea hackers might be dumping their hacked coins in the market that is why the volume of seller had been increasing that cause price fluctuation. I'm sure out there are many investors who will give up to invest in cryptocurrency if the security exchange system is not fixed.

Perhaps the decline was as investors monitored warnings from some regulators and stepped up crackdowns on the virtual currency market in China. Citing CNBC, a sharp decline occurred in bitcoin prices, reaching its lowest point in 1.5 months. In addition, Ethereum and Ripple prices also declined significantly.

There is no big reason for the bitcoin downfall for these days. There are lot of small bad news for bitcoins and there is overall bearish trend.

I agree with you this downtrend is a pure market manipulation all small investors will suffer from this, this is a strategic plan of a group of whales that is controlling the market, only the strong hands will survive in this bear market

I can not understand what the big whales are pursuing doing all the conditions for small holders of crypto currency to throw everything onto the market? They want the market to fall completely Or do they want to buy up all the Crypto currency at a cheap price?

You mean Bithumb? But they stole only 30 million dollars but whole crypto losing billion dollars now..

If it comes to the trading exchange of Mr. Gox, then recently the court has suspended the bankruptcy of the exchange, So they decide on the issue of Decision in favor of the exchange. Perhaps this will better affect the market.

Nobody may know the specific reason why it is dropping so much. Alot of user here is this forum has stated that the cause of the dip is as a result of the massive hack that happened in the Korean exchange. Why others are attributing it to the constant selling from the shop owners after purchases are been made using bitcoin. All this aren't even verified yet.

Lots of people asking  what happen to crypto market i think this situation is normal sa I don't panic that will contribute of losing my patience.  Let's calm thi k positive that every thing will ok again and cryptomarket will be survive to this volatile situation.

Bllions of tokens and mostly shitcoin plus some hackers cashing out millions of eth might just be the reason

At least you can try to tell me about the evidence where from you get that news about ethereum has been getting another hack. That's pure another FUD. I guess you are spreading another bullshit without mentioned the reliable news about that. lol Mtgox is the real reason and there is a lot of FUD to the bitcoin or even price manipulators has been playing the crypto.

We can give some consideration from that but it really won't affect the entire market. Market manipulations made by some whales definitely bring these disaster to us, though we can't point out directly but it certainly that's their doing. We can't rid them out as they are also investors and having a role in the market. 

I think most of the people are afraid of losing their money so due to this reason they are selling BTC. In this situation people with good patience power are enjoying the situation and buying more. Crypto currency is all about patience. You have to control your nerves while market going down. If you hold your emotions for 4 to 5 months you will definitely get a good reward.

Everything saying keep calm, but how long? Do you see what is happening?
I think we no longer can think about profits in the near future.

Not only that, another weakening suffered by Ripple (XRP) which fell 8.89 percent in some time. The same day Ripple announced five new payment partners. Thus, the presence of good news for the virtual currency can not afford to issue a decline in crypto money. The total value of crypto currency alone reached 445 billion US dollars, or down 15 percent compared to the highest close in February 2018 at 519 billion US dollars. we just wait for other digital currency info

Maybe Korean exchange hacked again?
Another FUD made Bitcoin drop 10% in last week and affect altcoins too.

Nobody can tell you why the market is so damn weak in the last couple of months. The most people are just scared that Bitcoin will never recover after that huge dump. But I think it is the best time to buy some new currencies, because I made the best money when I bought my own fear :D

There is no 100% precise explanation.
Probably people are tired of bearish mood on the market.
And every -10% correction can provoke panic among amature investors.

Let’s hope for the better. Yes the drop is big and has made people cry a bit as well but these are the market phases and the market being dynamic can move very easily to the equilibrium position again where the prices are set again and the demand meets supply. Actually the price often also falls due to exogenous factors and we should really stay calm about it because since the crypto has such a big market cap, it is not going to end so soon.

I think that there is usually no reason for the decline. The simplest reason is that the funds are leaving. Most of the news broke out because it was an excuse.

The December / January rally was artificially manipulated, the reason for the dropping is mainly due to investors panicking. Manipulation, market corrections and FUD all play a part in this and this article will go over a few reasons why I think the markets have further to fall before the trend reverses.

The cost of bitcoin and all altcoins continues to decline from January this year! The reasons for this are different, among them - the correction after the overbought bitcoine last year, the attempts of large investors to displace small investors from the market in order to further exclude speculative fluctuations. Also, the price decline was supported by the sale of large amounts of bitcoin by the trustee of the MtGox exchange, which was completed a few days ago. The fall will continue for some time, do not be surprised!

Why does it have another big drop? Actually,it is not an issue at all because many long term investors already experienced big losses and for sure it always happens like this to them. This is not the first time that drops so big. Let's make it a point that crypto world has this kind of life and we stay it this way. We can only accept this and try to understand the situation.

well, there are so many triggers in the price decline from early 2018 to the present, and there are no signs of an increase in prices. yes, for now the bitcoin price again has a price below $ 6000. I do not know what caused this, but my selling panic taste is one of them.

If the world had lived its life with a crypto currency, then it could not have been influenced by large whales or other players on trading exchanges. In any case, artificial manipulations on the crypto-currency market make this world very dependent on certain actions of holders of a large number of crypto-currencies.

well now summer, people with money have a rest. I think that before fall we won't see normal growth, it at an optimistical deal. and it will be possible in general growth only next year.

This event can not be found any explanation. Most likely, these are just market manipulations of large players, which encourage newcomers to sell their crypto currency cheaply.

we can hope market manipulation cuz there will be a big come back sooner or later, but every bad news seems to bring massive drop

Actually that is painful. Not only this but the Whales can also manipulate the prices as well. We had a drop few days ago which recovered shortly. We have another drop today and hope about its recovery as well. If we look at the response of the price recover, we can see that the prices do not fall that much and are followed by a high jump rather. Anyhow, all we can do right now is to hold.

The decline is normal. Now it is not a bull market. It seems that the coin of the Currency Exchange has been stolen. I am not sure about it.

I have not found any events that have affected market trends recently, but the market is still in a downturn. Is this likely to be the operation of whales behind the scenes? What do you think?

 i hope they will resolve this issue as soon as possible for us investors to have high moral in this long time dip that is happening.