panic selling

[eaLiTy]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

The reason behing the panic is that there are rumors that the chinese government will implement some strict rules against bitcoin and they would start taxing them heavily in order to reduce the amount of money flowing out of the country and this news had a big impact in the price

[yayayo]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

The reason behing the panic is that there are rumors that the chinese government will implement some strict rules against bitcoin and they would start taxing them heavily in order to reduce the amount of money flowing out of the country and this news had a big impact in the price

It's just a rumor and I doubt it is true - at least not to the extent market participants expect. While it is plausible that China wants to prevent capital flight it remains to be seen if the government will be successful in curbing Bitcoin use. I don't think so.

For me the timing of the news release (right after a major price increase) is highly suspicious and is not without precedence. It smells like market manipulation. One should check the amount of traded shorting contracts...

Without question it's a huge evidence of incapacity of journalists, who spread "news" without verifying its truth - not even knowing its original source.

ya.ya.yo!

[Positid]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

The reason behing the panic is that there are rumors that the chinese government will implement some strict rules against bitcoin and they would start taxing them heavily in order to reduce the amount of money flowing out of the country and this news had a big impact in the price

It's just a rumor and I doubt it is true - at least not to the extent market participants expect. While it is plausible that China wants to prevent capital flight it remains to be seen if the government will be successful in curbing Bitcoin use. I don't think so.

For me the timing of the news release (right after a major price increase) is highly suspicious and is not without precedence. It smells like market manipulation. One should check the amount of traded shorting contracts...

Without question it's a huge evidence of incapacity of journalists, who spread "news" without verifying its truth - not even knowing its original source.

ya.ya.yo!

Thanks for you insights ya.ya.yo... I like your theory and that convince me not to panic.. I will just hold my bitcoins now, and maybe buy more if the price fall back will continue. For sure if that is a real manipulation, the price will be back up again.

[ekoice]

If Bitcoin price falls, dont get panic and start selling.Its the exact time to buy bitcoins and hold it as Bitcoin prices are expected to rise high and now we can also see bitcoin price is steadily rising.If you sell, it will only be helpful to big whales waiting to buy.

[machinek20]

Panic never works, it can only make damage. Any experienced Bitcoin user should now by now that pums and dumps are normal and that it isn't good to react suddenly and emotionaly on every price movement.

Indeed, just be calm and study the parameters. Be keen to research on what is happening, read the forum and some news clips it might give you a clue.Panic selling can be countered by correct information

Indeed we need to think with cold head, don't just being drag by rumors, but as i can see there are huge panic selling which makes the price a bit unstable in this few days, i think with the proper news we can makes bitcoin to stable, panic sale is going to give you regret

[Adamsmit556]

If the Chinese government rumor turns to be true, that how deep the price may fall in worst case scenario? Drop it out, If there are any good guesses?

[pacifista]

Panic selling makes some hoarders happy. They can buy all the btc and kept it for a long period of time. And when the right time comes they are all gonna happy.

[MONKEYJUNK]

If the Chinese government rumor turns to be true, that how deep the price may fall in worst case scenario? Drop it out, If there are any good guesses?

If a rumor can lower the price like this, imagine if it's real however I think a lot of people will start to buy if the price goes down so in this way the price will not goes to the ground and you know, after some time China will come back to the game and the prices will raise again.

[bobyhodob]

If Bitcoin price falls, dont get panic and start selling.Its the exact time to buy bitcoins and hold it as Bitcoin prices are expected to rise high and now we can also see bitcoin price is steadily rising.If you sell, it will only be helpful to big whales waiting to buy.

in my opinion If bitcoin price falls better panic selling. then you wait and buy again when prices fall lower.
but if you have a lot of money, it is better not to sell and keep buy when prices fall.

[Mastsetad]

If Bitcoin price falls, dont get panic and start selling.Its the exact time to buy bitcoins and hold it as Bitcoin prices are expected to rise high and now we can also see bitcoin price is steadily rising.If you sell, it will only be helpful to big whales waiting to buy.

No doubt that a price drop is the best time for traders to buy more and keep them for long run as the price of bitcoin is known to grow in long run as we have always seen, and if someone sells their coins just because the price drops a bit then they will get behind and wont get a share from the profits people will earn later on.

[tee-rex]

If Bitcoin price falls, dont get panic and start selling.Its the exact time to buy bitcoins and hold it as Bitcoin prices are expected to rise high and now we can also see bitcoin price is steadily rising.If you sell, it will only be helpful to big whales waiting to buy.

It is easier said than done. Choosing the right entry as well as exit point seems to be one of the hardest tasks in trading. Opening or closing positions at wrong times may make you suffer huge losses or lose handsome profits. You may never know with certainty where the true bottom is or how high the price is going to surge.

[thejaytiesto]

The bitcoin community must have one of the biggest amounts of panic selling idiots i have ever seen. They get fucked every single time by the smart whales that push rumors, fake or real, in order to shake all those weak hands, and buy the dip every damn time while they are left out of the game because they are too stupid to realize their big mistake. These people never learn to buy and hold.

[raven7886]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

The reason behing the panic is that there are rumors that the chinese government will implement some strict rules against bitcoin and they would start taxing them heavily in order to reduce the amount of money flowing out of the country and this news had a big impact in the price

Let the chinese do all they can but the impact will never reach the extent that will not bring bitcoin completely down because they can only manage controlling their citizens who are using bitcoin but not other country's citizens. Panic selling does happen most probably just after a sharp rise. I guess Chinese maybe just a trigger this time.

[Shiroslullaby]

It does concern me a bit that such a baseless rumor could cause the market to move so much.
 
No details were ever confirmed, no one was named, just that 'people familiar with the matter' said that 'Chinas regulators are studying measures to limit transactions that use bitcoin'.
One rumor and people panic and start selling coins and the price drops several percent.
I guess Bitcoin is not as solid as I thought and the price is still heavily based on speculation.

[tee-rex]

It does concern me a bit that such a baseless rumor could cause the market to move so much.
 
No details were ever confirmed, no one was named, just that 'people familiar with the matter' said that 'Chinas regulators are studying measures to limit transactions that use bitcoin'.
One rumor and people panic and start selling coins and the price drops several percent.
I guess Bitcoin is not as solid as I thought and the price is still heavily based on speculation.

The correction was expected after the price had risen nearly a hundred dollars over the last few weeks. That's why even an unconfirmed rumor may cause a drop like what we've witnessed. The price would still correct sooner or later, just like it happens with any other asset however solid that asset might look, even with gold. There's no rose without a thorn.

[lionheart78]

It does concern me a bit that such a baseless rumor could cause the market to move so much.
 
No details were ever confirmed, no one was named, just that 'people familiar with the matter' said that 'Chinas regulators are studying measures to limit transactions that use bitcoin'.
One rumor and people panic and start selling coins and the price drops several percent.
I guess Bitcoin is not as solid as I thought and the price is still heavily based on speculation.

The correction was expected after the price had risen nearly a hundred dollars over the last few weeks. That's why even an unconfirmed rumor may cause a drop like what we've witnessed. The price would still correct sooner or later, just like it happens with any other asset however solid that asset might look, even with gold. There's no rose without a thorn.

I don't think the price drop is a price correction.  It was so sudden and a huge volume were sold right after the news (though it is not verified) about China considering to impose Capital Control on bitcoin.  So people think that China is banning bitcoin again so their tendency is to panic sell.  This is an irregular behavior in the market after the climb in price so , i agree that there will be a price correction after this event.

[n691309]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

I usually read the news here in forum and I have read that something in China has happened and I believe that this is the only thing that could affect so much the bitcoin price.

[tee-rex]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

I usually read the news here in forum and I have read that something in China has happened and I believe that this is the only thing that could affect so much the bitcoin price.

The price is still holding above $700. Anyways, it doesn't look like a massive panic sell. It didn't plummet to $600, around which it had been hanging for nearly two months after the Bitfinex hack in early August. It fell something like 40 dollars, nothing out of the ordinary given the previous growth for a few weeks without a major correction. $700 seems to be a new support level now.

[outatime1]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

I usually read the news here in forum and I have read that something in China has happened and I believe that this is the only thing that could affect so much the bitcoin price.

The price is still holding above $700. Anyways, it doesn't look like a massive panic sell. It didn't plummet to $600, around which it had been hanging for nearly two months after the Bitfinex hack in early August. It fell something like 40 dollars, nothing out of the ordinary given the previous growth for a few weeks without a major correction. $700 seems to be a new support level now.

I agree that it probably was more of a correction than a panic sell. The price went up very quickly and it only pulled back to less than half of the quick rise.

[Yakamoto]

I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.

I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons

I usually read the news here in forum and I have read that something in China has happened and I believe that this is the only thing that could affect so much the bitcoin price.

The price is still holding above $700. Anyways, it doesn't look like a massive panic sell. It didn't plummet to $600, around which it had been hanging for nearly two months after the Bitfinex hack in early August. It fell something like 40 dollars, nothing out of the ordinary given the previous growth for a few weeks without a major correction. $700 seems to be a new support level now.

I agree that it probably was more of a correction than a panic sell. The price went up very quickly and it only pulled back to less than half of the quick rise.

Might have been a correction, but I'm thinking that it potentially possible that a good portion of the selloff was encouraged by some of the rumors of a capital control being imposed by China. While unlikely, I think it is entirely possible for a majority of people that they got nervous and sold off a portion.