Bitcoin Forum

I belive it was one of the triggers that caused this dump.

This was announced a couple of hours ago only. Also, It's only postponed and not canceled so I don't see why and how this would trigger the dump.

This was only supposed to be relied on for a major pump so to say. It has never been a catalyst for any dump. Again, it's just a postponement. I guess it doesn't pay them to buy at the current prices either

Yes, I think one attempt to avoid a dump. I hope the market recovery will happen quickly. The market looks bloody for the past few days.

this could have been a trigger for the dump because with the delay, some or even most people would choose to save FIAT or transfer their assets in other forms, yes, nothing else but to take profits in other forms, they thought the HOLD in undetermined time was more or less like just wasting time

This was the cause of the Drop that Happens 4 hours ago. Its coincides time and move.

If I was an insidertrader I would dump the market with shorts sellers just like days before and then, when the news comes out, I would use the panic to Buy all back.

But I am an Outsidertrader  :-\

Well, sorry for being an outsider trader, but we all are anyway, moreover, this is an unregulated space, so insider trading is not really an offence until maybe we get to see some regulations in place.

However, it should also be noted that this whole thing about Bakkt was just announced long after the market has gone below $5k, so how can this be attributed to the Bakkt launch postponement. It just seems people tend to derive pleasure a lot with trying to attribute everything to a dip. The bears saw a chance and they took it, so get over it.

Many project postponed this time, specially after hard fork. Developer team need hard work to get solution to face market condition, very difficult for everyone. Postponed it doesn't mean fail but this is sign we need to careful and not replace our trust, I'm not stop you but please think again. I lost many value asset this time and mostly because postponed project, after list the price is so low, nightmare for me.

It's obvious Bakkt had nothing to do with the dump and it almost had no further impact on the dump because it didn't orchestrate it in the first place.You therefore can't attribute it to the dump, insidertrader or not

Yes I can. See my explanation below:

1º - There are Financial players getting in now. They are manipulative players, professionals manipulators.

2º - Bakkt and SEC are just kind of sectors of financial, Its composed by financial players (people that has knowledge and experience in financial markets)

3º - For Now, it is not forbidden yet insidertrading on criptos

4º - The falls from 6000 to 5500/5000 was caused by the broke support (Traders stopping and investors getting out). It could be because of BCH fight or tecno stocks falls, I dont know, but its happens and stop falling at 5000, starting a wickoff acumulation.

5º - But it was not a acumulation, its change to a re-distribution. Why?

6º - Thats why: Short Sellers. You may study the Exchanges and find out that the ones wich shorts sells allowed had pushed the price down. Just look your self.

They knew the market was tranding down, without demand, High suply... and.. Insidernews that Bakkt wouldnt start at the date promissed. So It was very easy to knock down a bit more. And when the news of Bakkt postponed would cause de suply necessary they need to cover the short.

Lets recapitulate:

Distribution (highs lowers then last highs) -> Price moves above 6000 -> Stops from 6000 to 5500 -> Oversellers from 5500 to 5000 -> Range market -> No demand, high suply -> Shortsellers (insiders positionig 1) forcing a Re-distribution -> Stops from 5000 to 4500 -> Acumulation form 4000 to 4500 -> High Bullish activity price moves to 4750 quickly and stop -> start a distribution top (Here are the insidersellers positioning 2) at 4750 to 4600-> BAKKT POSTPONED NEWS Price goes from 4600 to 4000 -> Cover short position from 4000 to 4300.

Now the market is free to go up, Short sellers are not confidence anymore and There are buyers, buying slowly but consistently... Smart money getting in


So YES, financial players manipulated it

I though BAKKT will be done in the midst of December 2018 and now has been adjusted or extended on January 2019.
however, Bakkt is could be one of the reason for what is happening now in the value of bitcoin, why it dumped into below 5k$ which is very painful or hurt to anyone who became panic because of this matter anyway. But for sure, after this bakkt bull run is next. :)

Might be the cause or not but this is just a delay just take a look on what happened on ETF decisions too where it do have those delays.We cant really avoid on having those
thoughts that this might be the reason or not but behind that no one knows if it did actually trigger something into the market.

A delay for what? But i think OP was right it might be the cause that triggers to caused the massive dump. Look what they did to ETF when they deny the approval of ETF the market starts to decline most coins. Though you might be right, we couldn't avoid such things to happen.

you have already created many threads with very strange predictions and theories and now you have created this thread with yet another strange theory. as I said in another thread, why do not you consider the hypothesis that the price has been stagnating for a long time and people will become impatient and start selling? another hypothesis would be that people entered panic because of the war of bitcoin cash, another hypothesis would be the lack of demand. These my hypotheses are more likely to be certain than your theories. no offense.

Bakkt postponement has contributed to decline in market, bakkt involvement would have been helpful to some extent, since it isn't seems realistic in December, the fearful holder seems hopeless and dumped.

Bakkt before the selling started; Who cares? It won't do shit.

Bakkt during the panic selling; Once it launches, the market will recover again because it allows money to enter the market.

Bakkt after their announcement to postone their futures market; This is manipulation, there is no other way.

Seriously? The market tanked because whoever it was, that entity triggered stop loss orders by peeing on the yearly support level. What happens after yearly support breaks? Full panic.

Nothing to do with dumping is just an announcement maybe market dip is the cause but which dump on something that is not even released yet

They delayed this for the main thing, to bag more BTCs before their launch to accumulate more. It's a nice cover up IMO. It's well staged as per the drama in the BCH forks. But this is one of the anticipated catalyst to reverse the trend so why not.

I guess you need to understand that everything is business and those scheduled are not etched in stone. If I remember correctly, I'm not sure if its CBoE or CME last Bitcoin future offerings was adjusted a week earlier. Well, it could have triggered this another dumping, but then again, its only a postponement, I don't know why there's a big fuss about it. It could be manipulation from behind, or it could be the Bitcoin Cash war is not over yet. But there's no point in selling off today, unless you are new to the market and doesn't want your investment to grow overtime.

I think it is more of the BCH war going on and the Sharkpool. Bakkt and SolidX ETF was just postponed and would still be continued after a while so short terms traders are only bothered by that while that Sharkpool emptying blocks is cumbersome (TwitterProfile (https://twitter.com/sharkpoolcash)), and that Craig Wright bitcoin dump he always tell (Preference (https://blockmanity.com/news/craig-wright-threatens-to-dump-bitcoin-btc/)). Bear market still continues and all of that bad news might also be a factor why this "dump" is happening and still happen to continue, one thing I am sure is all of this would be part of history, sit back relax and enjoy LOL

Highly unlikely. The trigger for this “dump” was the unsustainable run up to $20,000. We’ll find market equilibrium soon and will begin to grow again.

I read this news on twitter and it seems we have to wait till that January before bitcoin and others cryptocurrencies can recover from it current deep.  I have not see any reason why bitcoin should recover now and that is the most important analysis to me.  I will hold what I have and invest when it gets to $3000 before January but I will hold till December next year as I am expecting another bump that time.  This year should be looked as opposite of last year and since we all benefits from the last year pump we should also have patience with this year dump.

As everyone said it is correct that their is no relation between the market correction and Bakkt postponed. Even market did not got bulish when the Bakkt news came. This correction of market was due to BCH hardfork due to which their is war between miners as some miners have turned it to BCH market.

If it happened during this year, or the next one, it was gonna be exactly the same for ethereum. So i do not think that it affected it that much.

Remember that not only ethereum was dumped, the same happened to Bitcoin, Litecoin, Stellar, and all the other coins on the market

it seems like this delay is useful for those who want to buy a bitcoin at the lowest price,
but for those who are HODL and still losing in this downtrend, they may have to increase patience or if they want to continue to get profits, they may have to stop HODL and choose cutloss and resume trading.

since I joined here as a bounty hunter in that time I received a reward following me in their anouncement for lasting at that time always saying by this year the volume price of bitcoin increases. but until now it is still very low, It is said that this year is increasing but after all they said postpond by next year and hopefully it will happen that because many people are waiting for increasing the volume rate in bitcoin and now it's here still patient and perseverance for the future.

i too looking forward to it.

Of course, it is a lot useful. A lot of us have said it quite a few times that this market will rally this way till the end of the year and then probably sometimes is 2019 after a long consolidation; we might just get to see the uptrend back again. Recovery is imminent as far as I am concerned, and corrections like this are healthy as they are just corrections and nothing else.

Those who know it's a general thing to see happen in a market, and the extent of it is based on the maturity and volatility of the market, they will understand the need to be seeing great advantages now. Bakkt being postponed to January is not a challenge; the major challenge would be for people who do not see the merit in this downtrend.

A lot of traders and Bitcoin holders thought for q certainty that Bakkt announcement will help Bitcoin to bounce from this current slump. Since November 15 , Bitcoin has gone -80% in terms of value. The bakkt announcement was suppose to lift up the mood of most investors but postponing the announcement is for the good of everyone.

As far as I know, the launch of the platform was postponed due to the large influx of investors. And this cannot be bad news. Until January 24, it remains quite a bit to wait. I hope that they will not postpone the deadline anymore.

LOL. That's not the main reason for the postponement. They decided to wait it out because (1) they need regulatory approvals for their customers (2) they are working closely with CFTC as they needed a conduct their thorough review of the offering and their warehouses. If you wanted to get the latest update, here's their official medium blog: (https://medium.com/bakkt-blog/launch-and-faqs-e1a3f7691d7b)

Also remember that this is not the first time they postponed it so it may have impacted us again this time but I'm sure when everything settles down, everyone can't do anything but be ready on the said date.

People got greedy at some point last year, and that was what triggered this. Basically, the whales will do everything in their power and resources to make sure that those greedy ones lose hope and get tapped out eventually. The main reason we keep getting some questions right now on this forum when it comes to what is happening to the market, is because a lot of people do not understand how a market is fashioned and then since they became a victim of buying at the peak based on FOMO, they are counting their losses in dollars instead of just realizing their mistakes and making simple amendments by trying to see a good time to get in lower, but instead looking for something triggering the dumps in the market.

While Bakkt was very vital in triggering a bull run, not sure it was the reason for the current depressed state of the market. The Bitcoin Cash war played a very big role in further causing a drop in the market as it forced a lot of sell offs

Postponing Bakkt was a good sign in my view , It means they want to investigate more bout it and if they wanted to reject it why would they need more time to search about it ?
Market acts emotionally , I don't think this dump is logical , It would get back soon .

Due to the delays of BAKKT, it cause the dumped of bitcoin recently. Many investor turned their BTC into fiat. Some people holds but others won't because they think it will never stop in bleeding. Holding is the best thing to do today but it is not assurance that if we hold, we get lot of profits.

what is later feared is that this kind of event will always be postponed until sometime it will be held, so the party in charge is not actually the year of the original implementation schedule, they postponed it only to calm the market

I just want to add something about what you just said bro. There are two altcoins why bitcoin got dumped so badly first it is because BCH
then followed by Bakkt where it went down more after BCH. But even is like that, the situation became more favorable to those have more capital to buy more altcoins that also dumped their price value in my perceptions.

If there is no market dump reaction during the latest rejection this year then how much more if it was just postponed? I believed that there is still no dump reaction even it will be rejected again but i want to see the market reaction if it will be accepted by the SEC that it might trigger the bullish run.

It could be about the SEC decision on 29th. SEC has to either accept or decline the Bakkt or generally any ETF at this point until 29th December and if Bakkt doesn't wait for them and just does it anyway they will be in big danger. First of all if it gets accepted they are fine afterwards but promising people ETF sales without actually having the right to do so will cause them a small amount of trouble even if its just 2 weeks.

However, if it got rejected than Bakkt would have been in huge trouble giving people option to invest their money into something that basically doesn't really exists or legally exists. Hence they had to postpone it until the 29th in order to wait for the SEC to decide and according to what happens they will move with it. However if Nasdaq and Nyse is in this already, it means SEC will accept it for sure.

the important impact of delays is short-term market uncertainty, speculators don't dare to raise sentiments and continue to play safe, procrastination is a bad strategy and far less clear in determining things that fluctuate, especially in a short period of time. prices will continue to fall if this continues in the same decision.

yeah right, I saw a lot of greedy people at that time and they didn't realize there were whales who were ready to drop everything, they bought at the top because they believed prices would rise to $ 100,000 and that made them regret having trusted FOMO news in the media.

People tend to relate one thing to another thing at the same time.
Maybe it's coincidence, or not.

it is true that there are still people out there who are greedy, and yet we cannot take them out of here so easily due to this is business and a kind of investment scheme in online thru trading in bitcoin. And sounds good to hear were Bitcoin will become 100k$ but hard to believe for now, and because of the whale investors who manipulated the market or controlled it the things we can do for now is to become a bullish and I think also that BAKKT has a big impact once it has been release in the market in my opinion.

Don't know if it was mentioned here or not but its because it was post-poned again.  They basically announced good news and bad news.

Bad news is that its getting post-poned to early 2019 which can be pretty much anytime until the Summer, no specific date like before.

However good news is that they raised almost $200 million dollars which is pretty impressive in a bear-market. Hence this is very bullish developement in my opinion.

Bakkt  is not responsible for the drop in the price of bitcoin,  bitcoin abinitio has been falling before the news. However,  bitcoin market is still bearish and hopefully,  there will be reversal and uptrend in the coming months!

In the end this news are just news, bakkt like etf are just organizations that can boost popularization of crypto or not, I don`t think they can affect the price a lot. We were here long before all that ideas started, just news about it are good for bitcoin, more people will see that, some people will want to know more and they will come here. Bitcoin will be bigger than those organization we seek approval right now, its logical, bitcoin was very small, now its big enough to be mentioned by big players, soon it will be bigger than all of them. Just give it a time.

Bakkt raised about 182 million dollars before they started out now.

Maybe that's what they were waiting for ? They were expecting some sort of investment and before that investment began they didn't want to start the ETF ?

If that is the case I could totally understand why they would delay it couple of times until the deal was struck, they do not want to start with their money and move on with others, they want the other money to partner up on the potential risks as well, who would want to prove that everything works and than get investment afterwards when they can share the risks ?

January 24th is just 3 weeks away, we will see if they will postpone again or not, if they do postpone again we can say it had nothing to do with investment but if they do not postpone than we can assume it was for the investment.

I do definitely agree with this line. 3 weeks isnt too far as of this moment and all we need is to wait and for those who wait up for this event will eventually see on what lies ahead on that particular date.
Postpone or not then it would be known later on.

Before long all these puzzles will fall into place and the true picture of how things stand will emerge. In all of this I strongly believe that no matter what bitcoin has come to stay and it isn't going anywhere, whether Bakkt or ETF fails or not.

Is a heavenly invested project they may have to both shoulders before going in because at the end of the day the inevitable dump will most likely happen buy some people looking to make quick cash out of it The good thing they can do is to avoid DEX and then find a very good exchange and possibly buy-back

As i see we are starting in january 2019 and no huge price of coins that pumping right now but in this past days ethereum get pumping looking forward from it and maybe it will pump again after fork.

With the government shutdown in the U.S, Bakkt will be affected, there is no indefinite delay. At this point, If anyone is expecting it, you should expect the worst.