High Transaction Volume Price goes Down

[Enjorlas]

The transaction volumes, natural or artificial, if sustained will cause the price to go down. I recommend selling before everyone else does and buy back in after it corrects.

Note that I don't own any Bitcoin nor will I buy any so I do not have any emotional bias in this.

For future references, the price is currently $437.

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[Enjorlas]

If this will give my prediction any more credibility, I correctly called a double top back in mid January in this thread:

https://bitcointalk.org/index.php?topic=1326818.0

[Herbert2020]

this does not look that possible to me. the massive transaction volume has been going on for more than 24 hours now and the price is currently at $438

besides this is not the first time such big back log has been created.

[SFR10]

I also can't agree with you on this one since can't see a real logic backing this up. How exactly does transaction volume (a high one) be the cost for values to go down when as result, I think it shows somehow more demand for it, therefor it should be the other way around and it's value to go up instead.

[Lutzow]

I also can't agree with you on this one since can't see a real logic backing this up. How exactly does transaction volume (a high one) be the cost for values to go down when as result, I think it shows somehow more demand for it, therefor it should be the other way around and it's value to go up instead.

Yep, it depends on where the transaction volume is located. Is it on Sell Orders or the Buys? It doesn't always mean that if you see a high transaction volume, the price will go down.

[coinzat]

I do not think that current high volume will affect the price because it sounds like an attack on the btc network. So it will not impact the market two sides is supply and demand. The huge number of unconfirmed tx can lower the supply and the price may go up a little

[Denker]

First of all I don't think that the price will go down significantly due to a back log.Pay the right fee and you're fine.
Furthermore why should anyone here listen to somebody who has abolutely no skin in the game as you said yourself?!

[Enjorlas]

First of all I don't think that the price will go down significantly due to a back log.Pay the right fee and you're fine.
Furthermore why should anyone here listen to somebody who has abolutely no skin in the game as you said yourself?!

Because I have no financial incentive for the price to go either way. Some members try to spread fear, uncertainty, and doubt if they want the price to go down regardless of what they actually think. Other members who only want the price to go up will discredit bad news, or shout down people who present an uncomfortable opinion.

I am neither of these people. Just a curious bystander.

[~Bitcoin~]

it is only a psycological movement people are panicing because someone is intentionally cloging the blockchain sending bitcoin with fairly low fee associated. Just hold for sometime price will rise certainly

[gentlemand]

Most heavyweight traders look at (probably largely fictional) numbers going up and down on a site far away from the blockchain. I doubt they care about external strife even when they should a little bit.

[randy8777]

i don't think the majority of the people even noticed this. as result not much will happen, if ever. the price is just bouncing up and down a few bucks. people are used to this. if you stick to 0.0001 btc as fee, then your transaction will get confirmed within 3 blocks, if not sooner. there is nothing to worry about.

[U2016]

That's a small dump , I don't think price will be affected longer because of it but the btc will recover back it's glory .
Hope it reaches 450$ soon.

[thejaytiesto]

All the consensus and all the new technologies being announced are making the future look extremely bright so I would advice against selling any amounts of Bitcoin right now. Considering that the hype for the halving is increasingly daily... I think it's not a good idea to sell right now, but it's your Bitcoin so good luck.

[Denker]

All the consensus and all the new technologies being announced are making the future look extremely bright so I would advice against selling any amounts of Bitcoin right now. Considering that the hype for the halving is increasingly daily... I think it's not a good idea to sell right now, but it's your Bitcoin so good luck.

Yes I agree.
Right now the situation looks bad or serious for people who are not really familiar with Bitcoin.
Furthermore again someone is attacking the network to push for his own agenda.
I predict that if we can withstand the actual artificial created pressure, we will get rewarded for taking all that sh** at the end of the year with a price increase to around $800 or maybe more.

Segwit is coming and code for HF will be ready around july based on HK bitcoin roundtable.
The attempts to create FUD are strong the last few days.Maybe the last final push who knows.
Stay strong and HODL!

[Amph]

you're wrong, we are heading toward breaking the 450 barrier, it's only a matter of time

i'm convinced that we may see another 1-2 attempts to break the 500 after surpassing the 450, stay tuned

[romero121]

High transaction volume won't make the price go down, only when high volume gets accumulated in few hands the price will go down.

[Latwindar]

If this will give my prediction any more credibility, I correctly called a double top back in mid January in this thread:

https://bitcointalk.org/index.php?topic=1326818.0

Can you predict again when will there be the double bottom so that we can buy at the bottom and make some money?