The reason why bitcoin goes down after bakkt release

[akirasendo17]

Here is the reason why bitcoin tumbles in the first few days of bakkt
1. Rumors
while others are positive in the launch of bakkt some people are spreading negative rumors everywhere to pull the price down
note: I don' know what this people wants but surely they want to make profits or tho buy a lower price bitcoin.
2. Panic/
Since rumors are spreading all over now , more traders specially the new once panic and sold their holdings fearing bitcoin will go down quickly.

3. News
the most powerful tools in the world is news specially now we have the internet ofcourse news easily spread im sure you know that they don't care if its legit or not they are going to publish it no matter what, so it also give big impact to the readers specially the traders.

While the community do its best to educate everyone still we can't blame them for selling what they have because at the end of the day they don't want to loose a lot.
its not bakkt that pull down the price I see the graph myself and its not really connected, its really what we are thinking as a trader

[bitkanu]

It's not dude, I think you must try to see how much volume of BAKKT and you will get the same opinion like what already happened with another person.
So many people are feeling disappointed caused by there was no a lot of volumes in the first-day trade of BAKKT. This is the real reason and i have been seeing so many people talked about this

[tranduong123]

It's not dude, I think you must try to see how much volume of BAKKT and you will get the same opinion like what already happened with another person.
So many people are feeling disappointed caused by there was no a lot of volumes in the first-day trade of BAKKT. This is the real reason and i have been seeing so many people talked about this

I agree with you that Bakkt's trading volume is so bad, I think it only meets 1% of people's expectations. Lots of news about Bakkt from last year, everyone believes that Bakkt will be a driving force for market growth. But the fact is that people were extremely disappointed.

[Periodik]

I am not sure if this thread is in its right section. This seems to be a discussion of the recent falling of Bitcoin's price. This could fit under speculation (here https://bitcointalk.org/index.php?board=57.0) or in the Bitcoin discussion itself (here https://bitcointalk.org/index.php?board=1.0)

Anyway, I have already read a lot of speculations and rumors around this recent price drop, and I don't think it needs more of this. At the end of the day, if we are truly supporters and believers of Bitcoin, this will not bother us really. We only need to extend our vision farther and surely we can see better days ahead.

[HB Wallet]

Here is the reason why bitcoin tumbles in the first few days of bakkt
1. Rumors
while others are positive in the launch of bakkt some people are spreading negative rumors everywhere to pull the price down
note: I don' know what this people wants but surely they want to make profits or tho buy a lower price bitcoin.
2. Panic/
Since rumors are spreading all over now , more traders specially the new once panic and sold their holdings fearing bitcoin will go down quickly.

3. News
the most powerful tools in the world is news specially now we have the internet ofcourse news easily spread im sure you know that they don't care if its legit or not they are going to publish it no matter what, so it also give big impact to the readers specially the traders.

While the community do its best to educate everyone still we can't blame them for selling what they have because at the end of the day they don't want to loose a lot.
its not bakkt that pull down the price I see the graph myself and its not really connected, its really what we are thinking as a trader

Only 72 BTC in the first day. People expected much more than that. And last time I checked, Bakkt was very welcome by the community before its launch. I don't know where the FUD you're talking about came from.

[yanto@1977]

Here is the reason why bitcoin tumbles in the first few days of bakkt
1. Rumors
while others are positive in the launch of bakkt some people are spreading negative rumors everywhere to pull the price down
note: I don' know what this people wants but surely they want to make profits or tho buy a lower price bitcoin.
2. Panic/
Since rumors are spreading all over now , more traders specially the new once panic and sold their holdings fearing bitcoin will go down quickly.

3. News
the most powerful tools in the world is news specially now we have the internet ofcourse news easily spread im sure you know that they don't care if its legit or not they are going to publish it no matter what, so it also give big impact to the readers specially the traders.

While the community do its best to educate everyone still we can't blame them for selling what they have because at the end of the day they don't want to loose a lot.
its not bakkt that pull down the price I see the graph myself and its not really connected, its really what we are thinking as a trader

Not that simple, I believe rumors create news and news create panic, your post is about one thing. Most people will leave market when they already take profit and some of them do buy back, meaning they try too push sell price more deeper use their own money to create new trend ( circle ). That's good strategy specially when price in long time still in top. You need to prepare and never trade until know where and when enter the market ( open position and close ).

[livingfree]

I thought that it was BitMex that liquidated which surprised us with a sudden drop. I'm still looking for that real reason why the market has been down for a few days and I guess many see this time as alarming because it's about to go down to $7kish.

About everyone's panic selling, I don't think that it's an impact anymore. The impact that the market is getting is from those whales sell-off.

[studio1one]

I thought that it was BitMex that liquidated which surprised us with a sudden drop. I'm still looking for that real reason why the market has been down for a few days and I guess many see this time as alarming because it's about to go down to $7kish.

About everyone's panic selling, I don't think that it's an impact anymore. The impact that the market is getting is from those whales sell-off.

At the rate bitcoin is falling for the past of a couple of days I am worried that it will once again go below $5k. BTW can I ask why do think it was BitMex that liquidated?

[akram143]

Whales just ignited the fire but traders are the reason why the prices were this much dumped now,and only people will suffer from this dump is one who are selling the bitcoin at $8000 since they bought it for $10,000.

[Reid]

While the community do its best to educate everyone still we can't blame them for selling what they have because at the end of the day they don't want to loose a lot.
its not bakkt that pull down the price I see the graph myself and its not really connected, its really what we are thinking as a trader

Why not just FUD?
It is like the Kraken had been release ever since that bakkt thing had been the talk everywhere.
Also, it is not just traders. Even some of those who have been supporting bitcoin from the start are starting to shaken up.
Now, newbies are reading this and instead of going straight into buying bitcoin, doubts came to them and their focus was divided.

If we could just stop talking about it then maybe all of this will be gone.
Even the negative side of bakkt.
Still I am positive with Bitcoin. This will be seen in just days to come. This aint new anymore.

[livingfree]

I thought that it was BitMex that liquidated which surprised us with a sudden drop. I'm still looking for that real reason why the market has been down for a few days and I guess many see this time as alarming because it's about to go down to $7kish.

About everyone's panic selling, I don't think that it's an impact anymore. The impact that the market is getting is from those whales sell-off.

At the rate bitcoin is falling for the past of a couple of days I am worried that it will once again go below $5k.

Don't worry about if it is dropping, set your mind that this is temporary. Such drop was seen even before so don't scare yourself and think of something that you have to worry, instead think of this as part of bitcoin's growth.

BTW can I ask why do think it was BitMex that liquidated?

I saw it on news.

[Winscosinally]

I have been waiting for bakkt to get approved since last year and now i feel disappointed because i don't see any improvements at all, i think it will have a very big impact on crypto market entirely guess i was wrong all along, well i belief that the price drop of bitcoin will recover later on so investors should just relax

[dentolas]

Rumors, news and FUD... do you actually think that this can justify the fall in BTC price? and how about when we were in the 4000$ level? by that reasoning it would have fallen to 0.
I don't believe that people that have been holding until now would panic sell when the year is about to end...
BTC prices are verrrryyyyy relative 
I would bet some people are enjoying this low and filling up ...

[TGD]

I thought the FUD things were all done since holders were strong enough now to face many negative rumors came in bitcoin after its ATH. Maybe only newbies will be affected in these current situation, or some just cant hold on to it now especially if they think that bakkt is the good news that they've been all waiting for another ATH or bull. Those who still have money to spare to not touched their holdings can still survive this negative issues happening in bakkt today. I still put my hope that time will come for BTC again.

[setialovers]

It's not dude, I think you must try to see how much volume of BAKKT and you will get the same opinion like what already happened with another person.
So many people are feeling disappointed caused by there was no a lot of volumes in the first-day trade of BAKKT. This is the real reason and i have been seeing so many people talked about this

I agree with you that Bakkt's trading volume is so bad, I think it only meets 1% of people's expectations. Lots of news about Bakkt from last year, everyone believes that Bakkt will be a driving force for market growth. But the fact is that people were extremely disappointed.

BAKKT, which was expected to be able to recover transaction volume, did not have great liquidity and disappointed many investors. It could be this is what triggers the price of bitcoin down but in my opinion without BAKKT the actual price of bitcoin can recover, hopefully in the near future BAKKT meets the expectations of many investors

[Crypt0BHunter]

I personally believe in conspiracy theory, CME has strong relations with FED, and have their paper trading BTC platform with no backed of BTC, and daily volume around 70k BTC, they are will be happy to FUD the price of BTC, that institutional will afraid to enter this market, and has no interest in Bakkt and buying BTC, for now.

[mmo4me.2016]

Many reasons:
  + Bitcoin as a large, high-risk investment asset
  + The value of the change is too big when there is a rumor blowing
  + The market is too sensitive
   .....

[bartolo]

Those rumors that you mention are always there, almost every day, even when the price of Bitcoin rises, they are not the reason. I don't think people are selling because the low volume at BAKKT either, but maybe some whales were waiting for this launch to sell their holdings, selling the news to buy cheaper later.

[th3nolo]

Here is the reason why bitcoin tumbles in the first few days of bakkt
1. Rumors
while others are positive in the launch of bakkt some people are spreading negative rumors everywhere to pull the price down
note: I don' know what this people wants but surely they want to make profits or tho buy a lower price bitcoin.
2. Panic/
Since rumors are spreading all over now , more traders specially the new once panic and sold their holdings fearing bitcoin will go down quickly.

3. News
the most powerful tools in the world is news specially now we have the internet ofcourse news easily spread im sure you know that they don't care if its legit or not they are going to publish it no matter what, so it also give big impact to the readers specially the traders.

While the community do its best to educate everyone still we can't blame them for selling what they have because at the end of the day they don't want to loose a lot.
its not bakkt that pull down the price I see the graph myself and its not really connected, its really what we are thinking as a trader

Don't get me wrong but, do you really think retailers drove down the price of bitcoin? I mean, that sounds innocent.

Something that could be credible was that there were too many people with stops below the $9000 mark. That showed up the invisible liquidity that was waiting to be unleashed.

Also, the "Whales" are cashing out heavily how anyone could know that? look at the money flow graph courtesy of coinlib.



So 1.92 Billion on volume only in Bitcoin and only by retailers? (Whales laughing at this)

Bakkt hasn't had any effect on the price in a while, the last movement I saw "that maybe was drived" by any statement or movement made by bakkt, was the drop from 6K$ to 3.2$K, so it's something we need to have out of the equation.

 

[Febo]

The reason why bitcoin goes down after bakkt release

Reason is because price of Bitcoin was to high. Is simple. It was constantly increasing from March to June. And then after small corection stay high. Now was time for a real corection. Price should not go down much more. It can even stay as it is now for next half year.