This Bitcoin Dump is caused for one large player

[13bitcoins]

Every time price goes down the larger sales happen on Bitmex, I know faketoshi use Bitmex, once this player run out of coins the market will rise again.

[Pursuer]

it is not "one person" this market may be small but it is not that small to be controlled by one person! it is whales that see the opportunity and took advantage of it. and that is not a hard thing to do during FUD dumps and when there is a build up towards it from some time ago.

and by the way it has nothing to do with faketoshi, is not even a whale he just pretends to be one.

[Wilhelm]

Since Bitcoin has no rules, one could in theory team up to manipulate the market.
Like the Fontas pump and dumps

[sorrysteve1]

1) Faketoshi - Craig Wright - is not behind this. He maybe contributed a little but I don't even think that's accurate.

2) Even if he did trigger this there's far more people behind it, one person might trigger a sell off but they're not the only one involved. Just like 1 flake of snow might trigger an avalanche but there are millions involved.

[BitcoinNewbie15]

1) Faketoshi - Craig Wright - is not behind this. He maybe contributed a little but I don't even think that's accurate.

2) Even if he did trigger this there's far more people behind it, one person might trigger a sell off but they're not the only one involved. Just like 1 flake of snow might trigger an avalanche but there are millions involved.

I honestly think this is not the cause of one person or some conspiracy. It seems whenever there is a drastic price drop, we always try to run and find something/someone to place the blame on. Most of the time it's just the natural evolution of a parabolic price rise. The bear market has to come, and there has to be a period of consolidation and corrections.

Now with that being said and trying not to contradict myself, but if we are to place blame on anything, I would argue that the newbies that joined the crypto space in 2017 definitely are contributing to this drop. They have incredibly weak hands and will panic sell in a moments notice. Thank goodness most of these newbies fell for coins like EOS, XRP, STR, etc, so their panic selling doesn't have as much as an effect on BTC, but I'd say they have contributed to this drop in price.

[exstasie]

I honestly think this is not the cause of one person or some conspiracy. It seems whenever there is a drastic price drop, we always try to run and find something/someone to place the blame on. Most of the time it's just the natural evolution of a parabolic price rise. The bear market has to come, and there has to be a period of consolidation and corrections.

Exactly! It's nice to see there's a few people in the room that don't immediately blame some dastardly "manipulator" for the price dropping. Nobody likes seeing their portfolio drop in value, but blaming whales and manipulators is just irrationally lashing out. Clearly, there wasn't enough to demand to sustain support at $6,000. Now distribution continues, as the market searches for a support level where demand is strong enough to reverse the market.

[LFC_Bitcoin]

Rumours are that Faketoshi is backed by institutional money, I know he’s a con man but he may have people with very deep pockets behind him attempting to get the price low so they can all load up or they may be trying to stifle bitcoin.

[draculaaa]

I would like to know this address to know its behaviour and stay alert.
Can you post it?

[exstasie]

Rumours are that Faketoshi is backed by institutional money, I know he’s a con man but he may have people with very deep pockets behind him attempting to get the price low so they can all load up or they may be trying to stifle bitcoin.

Rumor also has it the Bilderberg Group controls all world governments. In fact, forget "institutional money" for a second. I'll tell you who's funding this: George Soros!

Where do people get this stuff?

One entity is not responsible for the crash. They'd have to take on massive counterparty risk on spot exchanges across the world, they'd have to keep a lid on the OTC market, and..... where exactly would they be sourcing all these coins from? Craig Wright isn't Satoshi and Calvin Ayre isn't a Bitcoin miner.

The initial dump in the $5,000s just exposed how thin the market was and how weak demand had become. There was no buying power left at the February/June lows to absorb available supply.

[Vit83]

IMHO this is because of exchanges who need fiat to pay taxes at the end of the year.

[sorrysteve1]

I honestly think this is not the cause of one person or some conspiracy. It seems whenever there is a drastic price drop, we always try to run and find something/someone to place the blame on. Most of the time it's just the natural evolution of a parabolic price rise. The bear market has to come, and there has to be a period of consolidation and corrections.

Exactly! It's nice to see there's a few people in the room that don't immediately blame some dastardly "manipulator" for the price dropping. Nobody likes seeing their portfolio drop in value, but blaming whales and manipulators is just irrationally lashing out. Clearly, there wasn't enough to demand to sustain support at $6,000. Now distribution continues, as the market searches for a support level where demand is strong enough to reverse the market.

It's the easiest thing for people to do, they don't like to take responsibility themselves or look for the real reason behind the drop, so they just blame someone else and say to themselves that they couldn't predict the drop for that reason.

I think that demand is going to be an issue at most price levels, more likely is we'll see a lowering of people willing to sell and that will be equated with the demand, but we're unlikely to see a price level where demand swamps supply and quickly reverses the price. People are too afraid of btc right now.

[el kaka22]

Every time price goes down the larger sales happen on Bitmex, I know faketoshi use Bitmex, once this player run out of coins the market will rise again.

And his name is Craig Wright. Is no one here not watching the market like a sane person? Are you all oblivious to what happened ? I mean dude literally told himself that he is selling his coins. Dude basically sold of his bitcoins in order to both buy hash power for bitcoin cash satoshis vision and he also tries to spend his money to buy bitcoin he created in order to make the price go up and make it look like it worth something. In reality that coin worth nothing and no one will use it and it will die one day. I said the same thing for bitcoin cash and it did not happen however I still think there is a huge possibility this one will. So long story short yes this dump is caused by one large seller and this has been known for 2 weeks now, no need to be shocked about it.

[sorrysteve1]

Every time price goes down the larger sales happen on Bitmex, I know faketoshi use Bitmex, once this player run out of coins the market will rise again.

And his name is Craig Wright. Is no one here not watching the market like a sane person? Are you all oblivious to what happened ? I mean dude literally told himself that he is selling his coins. Dude basically sold of his bitcoins in order to both buy hash power for bitcoin cash satoshis vision and he also tries to spend his money to buy bitcoin he created in order to make the price go up and make it look like it worth something. In reality that coin worth nothing and no one will use it and it will die one day. I said the same thing for bitcoin cash and it did not happen however I still think there is a huge possibility this one will. So long story short yes this dump is caused by one large seller and this has been known for 2 weeks now, no need to be shocked about it.

That's if you trust a word he actually said. I would think if he was telling the truth someone would already have found his wallets and shown the trail of bitcoin flowing out of them and to exchanges to be sold. I don't for one believe that he actually sold his bitcoin, I think he was just trying to use that story for leverage.

[eaglewhite80]

Rumours are that Faketoshi is backed by institutional money, I know he’s a con man but he may have people with very deep pockets behind him attempting to get the price low so they can all load up or they may be trying to stifle bitcoin.

Faketoshi is backed by no one, as all I see is just one empty barrel trying to make lots of noise. Even if he is holding a huge number of bitcoin while claiming a whale, I wonder for how long will he even have to dump before he runs out of juice. Getting the price low is not even my problem, as that even gives more chance to get in at a very good price. Like Pursuer said, all I can see in the market right now are whales trying to screw the minds of the newbie with wrong mindsets up.

[Idrisu]

Every time price goes down the larger sales happen on Bitmex, I know faketoshi use Bitmex, once this player run out of coins the market will rise again.

Maybe we should pray for them to run out of cash.  In my view bitcoin is doing very well if you look at were it was this time 2016. The market cannot continue been nice we should expect bad market time to time.  I remember when we were hoping for bitcoin to get to $1,000 in 2016 but look at were it is today.