This asshole selling thousands BTC at bitfinex with multiple 200 BTC walls is the culprit of today's drop. And why he is selling so much in such a noobish way, I can't imagine.  Probably too lazy to place multiple 20 BTC sell offers instead of several 200 BTC. Well, if he is happy to lose milions because of his stupidity, so be it.

Why all filthy rich guys are selling hundreds and thousands of BTC at that price? What are they thinking - the end of the world? Or early retirement? What if by the end of the year BTC hits 50K or even 100K $ and they realize how richer they could have been if only waited for several more months? But no, why have 100 mln in several months, while I can have 2-3 mln and retire now. Pathetic  

What we need now is a slow steady growth like March-June 2017, when it started below 1000 and reached 3000. In February BTC will reclaim the 15-20K $ range.  I would not be surprised if  in June we reach 45000$. I'm also curious where BTC will be at the end of 2018? And in 5 years from now? Millions of new users are buying and learning to hodl BTC, so at one point the demand will be much higher than the supply. It's a matter of time only to see another 20 fold increase. As we all know currently the supply is only 16.8 mil, of which 25% are lost forever. Another 25-50% is owned by permanent hodlers, so we have only 6-8 mil in circulation. This is the amount traded in all exchanges in January, and some of it for sure went into holders hands, who will wait for at least 5 fold increase.

Good luck buying at 6700$.  I feel sorry for all noobs that missed the short lived 9K correction, waiting for 8K. Greed and stupitidy never earn money 

I just received this from kraken:
Kraken
Hi ....,

Did you notice the gift in your account? Your balance has been credited with lumens (XLM), the currency of the Stellar network. The credit was done on January 15 and shows in your account ledger as a “transfer.”


..............

Well, this amount kinda compensates the losses because of the exchange errors in the last months. Thank you for the gesture and cheers!!!  

"The U.S. securities regulator on Thursday raised alarm about the safety of bitcoin-themed investments, telling the fund industry they want answers to their concerns before endorsing more than a dozen proposed products based on cryptocurrencies."
....
"There are a number of significant investor protection issues that need to be examined before sponsors begin offering these funds to investors," said the letter signed by Dalia Blass, the SEC's director of the division of investment management.
...
"It shows that they're going to have to take some time to consider the industry's responses before they change their minds on it," said Senderowicz, a partner at Dechert LLP.

"It gives a template for how to get to a yes."

-------------
Source:
https://www.nytimes.com/reuters/2018/01/18/business/18reuters-bitcoin-sec.html?partner=IFTTT
------------

If this source is true, we are going to see ETF soon. Wallstreet better prepare for this now  

Don't worry, Bitfinex is printing new 100 mln tethers. In several hours BTC will rise 15-20%.

This is hilarious: BTC vs. eth vs. fiat:

https://i.imgur.com/iqXK9mU.gif

Let's hope this was the last bunch of desparate taxi drivers who bought at 20K and dumping at 13K  

I can't wait kraken to be online again:

Kraken update v.2.0 change log:
• improvement: faster redirect to error pages, no need to wait anymore.
• style: new fancy design for error pages.
• new feature: Auto refresh. Now we refresh the page for you when error page display.
• we have implemented all possible 5xx errors to our system. Now you can enjoy visiting the our wide variety of cloudflare errors.

The moment you realize you sold at the bottom.

Let's hope these 10K+ BTC sold in the last 2-3 hours on Bitfinex (and who knows how many on other exchanges) will be in better hands ( ahem, hodlers). At least there will be a much less resistance going back to 20K, so this shaking out the weak hands is a good thing.

Last edit: 7 700 000 BTC sold in one hour and 3000 BTC an hour before. Someone hates the hodlers  

Just woke up to see how on Bitfinex 6k 8K BTC were sold from 15K down to 13K in less than an hour and a half. This is not a normal trading. Someone desperately wants BTC to be stopped, but who? Cripple and Eth are going down, only bcash is up... hmmm. Ver is one of the suspects for sure. Or some whale with a low futures bid may be...  

Regarding that noobs are boasting with alt profits: Looking at the charts of those that are at least 3 years old, you can see that the price is constantly declining with 1 or 2 pumps  (mostly in May 2017 and in Dec 2017/Jan 2018). Between the pumps there is a huge drop. In other words, even if one gets lucky to chose one of those alts and waits years with 60-90% loss in terms of fiat, at the end he may earn at most ten fold. On the other hand, if one bought BTC and holded for 3 years... you can do the math. Now, the noobs are too emotional and buy these alts at current prices waiting for the next pump. But my questions are: Do you know when the next pump will be? In May 2018, or Jan 2019, or Jan 2020? Do you be comfortable to wake up each morning and see another 10% drop in price for months/years? In the meantime, BTC will steadily rise to prices that now may seem unimaginable. After all, BTC is still in its early adoption phase with a cap of 21 mln coins, 80% of which are now in circulation.

https://i.imgur.com/TkeECfh.gif


Yesterday's dump was the most hilarious fiasco I've ever seen. The guy with the 800 BTC that dumped at 14.7 later bought again at... 14.7. Clearly, he was surprised BTC didn't go below 14K as he expected. Pathetic!

My explanation for the last weeks is this: people are desparate to increase their BTC holdings by selling on the way down with the hope they will rebuy lower. This only shows that everyone knows that BTC is going to rise much in the coming years (with or without ETF). If there are still noobs that chase alt pumps, they will either be broke by the end of January, or switch to BTC in time.

As always Bitfinex is causing the dump. Between 13.09 and 13.19 roughly 1880 BTC were sold. They are hoping to cause panic and rebuy lower. Let's see if the traders will fall for that.

It is funny to see how poor alt trolls are crawling from their mouse holes each time BTC dips for an hour. What are you hoping for, noobs? That with 15$ buying ripple, iota or other scam that hardly will survive 2-3 years and win 10 mln $? Not gonna happen, I guarantee!

In early 2017 noobs/trolls were wining that 1000$ is a too high price that can't be sustained. For a month or two it looked like they were right. In June they were wining that 3000$ is a too high price that can't be sustained. In August they were wining that 5000$ is a too high price that can't be sustained. In December they were wining that 10000$ is a too high price that can't be sustained. In January 2018 they are wining that 20000$ is a too high price that can't be sustained. Not hard to predict in June they WILL be wining that 50000$ is a too high price that can't be sustained and so on.

Dear trolls/noobs! The price of Bitcoin is determined by the demand and the totall supply. No matter how many alts are there and what qualities they have. They will ALWAYS be a portion of a Bitcoin!