Explanation for the 710-750 drops?

[FxR]

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

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[podyx]

Just some consolidation I would guess.

750-780 resistance is strong and the support and demand is very strong aswell

[Pai Mei]

someone decided to sell some Bitcoin

nothing more

[FxR]

Just some consolidation I would guess.

750-780 resistance is strong and the support and demand is very strong aswell

I did indeed notice that it never seems to get over $750 lately. Is the resistance basically that people are selling everything at $750?

[arbitrage001]

High price invites producers to sell. And low price invites speculators to horde.

[pereira4]

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

Idiots are scared when the price goes down a bit and panic sell, creating all those dips, which whales quickly buy taking profits. So it's always the same, idiots lossing money, while whales get more BTC and the overall price is still an uptrend since janaury 2015. We will be at 1000+ in 2017 for sure.

[FxR]

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

Idiots are scared when the price goes down a bit and panic sell, creating all those dips, which whales quickly buy taking profits. So it's always the same, idiots lossing money, while whales get more BTC and the overall price is still an uptrend since janaury 2015. We will be at 1000+ in 2017 for sure.

Let's hope it'll get there soon . Thanks for your answer.

[jondeen707]

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

That does not seem like anything out of the ordinary. Just somebody selling some coins, does not look like panic sale to me.

[thejaytiesto]

There is a lot of hype surrounding the dollar right now. A lot of people is speculating with a rise of the US. Donald Trump is actually giving people the hope of repeating the American dream. This is of course delusional and a mirage. Once reality kicks in, the doomed fiat currencies will keep their path towards destruction, and Bitcoin will explode to 5 figures.

[FxR]

There is a lot of hype surrounding the dollar right now. A lot of people is speculating with a rise of the US. Donald Trump is actually giving people the hope of repeating the American dream. This is of course delusional and a mirage. Once reality kicks in, the doomed fiat currencies will keep their path towards destruction, and Bitcoin will explode to 5 figures.

First of all, not an American and not a Trump supporter (not rooting for Hillary Clinton either).
I think Donald Trump is actually going to do something good. His president-elect speech, the way he's changing his opinions right now (the one about global warming for example). I believe he can actually do good to America and possibly the entire world.

It's just an opinion/expectation of mine and no one knows for sure. We'll see what the future holds.

[alyssa85]

It is to do with people taking profits whenever they see a good price. The Federal reserve meets on Dec 13th and will almost certainly put up interest rates, strengthening the dollar. So it makes sense to take profits while you can.

[richardsNY]

$750 is some sort of a top for this year. It shows that there isn't really any incentive for large traders to push the price any higher. I think we should be happy with the fact that we're sitting above $700 instead of hoping for the price to go up even more.

[lumeire]

High price invites producers to sell. And low price invites speculators to horde.

True, so these are just normal sways I suppose. Nothing to be worried about.

[cpfreeplz]

That's just normal price fluctuation. Some people bought a bunch of bitcoins then some people sold a bunch. This isn't a huge fluctuation so there's no real reason for it. If a huge country's currency collapsed and bitcoin became their national currency then you would see a big spike in price and there would be an obvious reason for it.

[MONKEYJUNK]

Not everyone wants to hold, $750 is a good price for some people sell...

Also is more hard to see people buying big amounts for this price, so the price stay in 720-750 and that's it, not much to explain.

[alyssa85]

$750 is some sort of a top for this year. It shows that there isn't really any incentive for large traders to push the price any higher. I think we should be happy with the fact that we're sitting above $700 instead of hoping for the price to go up even more.

Yes. Also remember that the short-sellers come out when btc hits one of the TA lines, and $750 is one of them.

[unknown04]

I guess holidays are coming? Some people might need to sell and use the money. And some can't wait to leave the train.

[Herbert2020]

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

whenever the price changes are this small (for bitcoin $40 is still small change) it is considered normal changes. and it happens in all the other markets too. and the bigger they are (the more traders they have) these normal daily changes are smaller.
it can be sometimes manipulations, it can be demand, or it can even be because of timing for example it is the start of the business day in some country (US or China) when they begin trading.

[n691309]

Hey guys,

It happened again today, BTC was worth $750+ for like 5 minutes. After that, the drop started again. Right now it's $735 for 1 BTC, does anyone have an explanation why this is happening? I doubt it's manipulation though.

For bitcoin this is a normal decrease of its price and I wouldn't worry too much about this, someone decided to sell some bitcoins and so the price went a little bit down, if you are trading regularly or very often and your bitcoin amounts is very large then you should worry about these changes as you can make profit.

[bamboylee]

It is just normal. This happens when a price hits a certain height and will trigger a sell order or two. THen that sell order will bring the bitcoin price back down especially if it is a large amount. It will happen again in the future if people reach a certain target.