Explanation for the 710-750 drops?

[Immakillya]

Its just a normal behavior of bitcoin price. No one cant hold their bitcoin for a long time so they sell it. Thats why we see the price drops. But you will see the price will rise in just a couple of hours. Bitcoin is strong right now it will recover quickly and no need to worry about it because thats the way it is. Get use to it.

[buwaytress]

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.

Or it could be just scalpers looking to take advantage of the psychological 750 wall. Buy at 725 and sell above 750 repeatedly. It has happened at least 5 times this month now. If you committed even 15% of your bank roll on each increment, you'd have made 20% profit or grown banroll by 3% from these waves.

Or equal to buying at 700 and selling at 840 approximately. Maybe not idiots after all?

[pinkflower]

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.

Or it could be just scalpers looking to take advantage of the psychological 750 wall. Buy at 725 and sell above 750 repeatedly. It has happened at least 5 times this month now. If you committed even 15% of your bank roll on each increment, you'd have made 20% profit or grown banroll by 3% from these waves.

Or equal to buying at 700 and selling at 840 approximately. Maybe not idiots after all?

You could be right. But there are many other plausible reasons and it all leads to an equilibrium in BTC's price. Wherever it goes, as long as the irrationality of the traders are gone, that is the correct price. Right now it's the correct price and it's stable with no crazy swings. The traders right now are rational.

[romero121]

Its just a normal behavior of bitcoin price. No one cant hold their bitcoin for a long time so they sell it. Thats why we see the price drops. But you will see the price will rise in just a couple of hours. Bitcoin is strong right now it will recover quickly and no need to worry about it because thats the way it is. Get use to it.

As quoted its a normal happening of bitcoin, but as mentioned that bitcoin can never be hold long is unfair. When price grows without notifying users tend to sell bitcoins. This leads to added increase in price than the regular price increase. At the same it won't sustain long. Same is the reason for the ongoing price movement.

[serjent05]

People are trading and traders are taking advantage of the swing in price.  So it is normal to see price increase and drops at the same time.  What isn't normal is if you see bitcoin price skyrocketed in a short span of time or get dumped and instantly lowering the price of bitcoin.  There sure is happening and some manipulation is obvious.  Else, 1 usd to 50 USD swing is normal in my opinion.

[MWesterweele]

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.

It's basically needs of traders where they going to get profit? In trading they need the bitcoin price decrease so they will able to buy another bitcoin again and then waiting for the price increase again. traders are the reason why the bitcoin price is unstable or someone try to manipulate the price of bitcoin other says china is going to manipulate bitcoin price.

[BitHodler]

People are trading and traders are taking advantage of the swing in price.  So it is normal to see price increase and drops at the same time.  What isn't normal is if you see bitcoin price skyrocketed in a short span of time or get dumped and instantly lowering the price of bitcoin.  There sure is happening and some manipulation is obvious.  Else, 1 usd to 50 USD swing is normal in my opinion.

Bitcoin has been subject to manipulation from the time it got its very first exchange listing. Exactly this is what is attracting the attention from people.

But what I have been noticing is that when the price is going up in a nice pace, that people are somewhat okay with it.

But as soon as the price drops a few bucks, people seem to panic and ask for reasons as to why the price has gone down, and how much further it will drop.

They apparently don't seem to realize that when the price can go up like $50 in a short time, that it can go down that much equally as quick. Rookies.

[cengsuwuei]

trend bitcoin price is now still up
so is several day later , bitcoin price is down only corection and concolidation price
and can up again until 20 december 2016, resistance price is 800dollar

[jondeen707]

Didn't anyone think that the market's irrationality is over and the price of BTC is now becoming more efficient and balanced? Maybe all the news, rumors and the economic need for BTC is reflected in the price right now. In short this is where BTC's price should be at.

I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).

Looks like it is diving a bit right now

I think, according to previous messages, that it's going to stabilize around $700-730 right now.

It did, I never doubted it would

[FxR]

Didn't anyone think that the market's irrationality is over and the price of BTC is now becoming more efficient and balanced? Maybe all the news, rumors and the economic need for BTC is reflected in the price right now. In short this is where BTC's price should be at.

I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).

Looks like it is diving a bit right now

I think, according to previous messages, that it's going to stabilize around $700-730 right now.

It did, I never doubted it would

Haha, you guys are pretty good at predicting, I must admit that.

[richardsNY]

trend bitcoin price is now still up
so is several day later , bitcoin price is down only corection and concolidation price
and can up again until 20 december 2016, resistance price is 800dollar

Speaking about the price in recent times, resistance occurs as soon as the price starts coming close to around the $750 level. From there the price will most likely start heading down towards $720 where after that we'll see the price climb back up to around current levels again. Not sure how you come up with resistance being at the $800 level...

[serjent05]

People are trading and traders are taking advantage of the swing in price.  So it is normal to see price increase and drops at the same time.  What isn't normal is if you see bitcoin price skyrocketed in a short span of time or get dumped and instantly lowering the price of bitcoin.  There sure is happening and some manipulation is obvious.  Else, 1 usd to 50 USD swing is normal in my opinion.

Bitcoin has been subject to manipulation from the time it got its very first exchange listing. Exactly this is what is attracting the attention from people.

But what I have been noticing is that when the price is going up in a nice pace, that people are somewhat okay with it.

But as soon as the price drops a few bucks, people seem to panic and ask for reasons as to why the price has gone down, and how much further it will drop.

They apparently don't seem to realize that when the price can go up like $50 in a short time, that it can go down that much equally as quick. Rookies.

Well it has been established that bitcoin market is almost always a manipulation, reason, when bitcoin is sitting idle in some prices, hype will come in, spreading news even if it was a few months ago and just adding more hype on it.  Then when price go up, they can then spread fake rumors and start to sell their own coin to their own buy wall.  People then follow.  They panic because it is a human nature, and they are not succesful in how to control their emotion yet.  Indeed they are  Rookies.  Else they will know how to read chart, how trend flows and they won't worry much when bitcoin price go down instead they will be happy because they will scoop alot cheaper bitcoin.

[FxR]

trend bitcoin price is now still up
so is several day later , bitcoin price is down only corection and concolidation price
and can up again until 20 december 2016, resistance price is 800dollar

Speaking about the price in recent times, resistance occurs as soon as the price starts coming close to around the $750 level. From there the price will most likely start heading down towards $720 where after that we'll see the price climb back up to around current levels again. Not sure how you come up with resistance being at the $800 level...

I agree that the current big resistance point is around $750. $800 is a bit ridiculous as we haven't come anywhere near it.