Huge drop while i am asleep! This is BS

[Sugetsu]

Why it seems that bitcoin is most active at night in the US eastern time?

I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after  hearing my phone vibrate like crazy to find the price dump to 920!!  What do i do now? Hold? Or Sell?

For those in east coast, how do you deal with this volatility during the early hours of the morning???

[manselr]

Why it seems that bitcoin is most active at night in the US eastern time?

I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after  hearing my phone vibrate like crazy to find the price dump to 920!!  What do i do now? Hold? Or Sell?

For those in east coast, how do you deal with this volatility during the early hours of the morning???

If you can't take this level of volatility simply put: do not be involved in bitcoin. Bitcoin is not for the faint of hearth, extreme volatility is expected. Marketcap is small so big swings will happen. If you can't take swings up 200 dollars up and dollars down then you will not make it long term. Chances are you will get trapped panic selling in one of the dips and you will not be able to buy back, or you will buy back at a loss and after a couple of times of buying back at a loss you will end up bankrupt. Buy ever dip and hold long term, its the only thing that works, everything else is a casino gamble. It went down but it could have continued going up to 1500. Right now is recovering again.

[btcmerich]

MONEY NEVER SLEEPS! 

also what you should do now is only for you to know.  if playing like this and your trade does not go well then hold and do not panic. be it a year or a month your sell price will come

[talks_cheep]

January blood-bath has started. Price will drop like a rock in a bottomless hole. Sell now, thank me later.

[Sugetsu]

I don't call it recovery when the price keeps jumping up and down $20 to $30 every few minutes. It could well "recover" like it did at 5am this morning and then nose dive again. I am looking at the volume in bitstamp right now and it is crazy, it is over 30k right now. My guess is the day progresses and more people wake up to find this dump they might just sell which will trigger a new dump.

But my question is, how do you prepare for 27% drop swing during the early hours of the morning, when you are sleeping? And why you think this happens at this time? Is it because China is specially active at thosr hours?

[Slow death]

  What do i do now? Hold? Or Sell?

Are you currently making a profit or are you at a loss?

January blood-bath has started. Price will drop like a rock in a bottomless hole. Sell now, thank me later.

Haha ha

You spread more panic.

MONEY NEVER SLEEPS! 

I agree!!!

[Sugetsu]

I sold, i was still making a profit. The question is now when to buy back. By the look of things it looks like a pretty big gamble.

[Actualiteit]

daily reminder to not do margin trading if you don't know what the fuck you're actually doing.

[spazzdla]

China, China , China, China

Did I mention China?

[harizen]

Why it seems that bitcoin is most active at night in the US eastern time?

I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after  hearing my phone vibrate like crazy to find the price dump to 920!!  What do i do now? Hold? Or Sell?

For those in east coast, how do you deal with this volatility during the early hours of the morning???

So basically you want the bitcoin price volatility adjusted in your own preference? It's like the price movements must always go to the way you want. Sounds crazy isn't it?

That is the challenge so you must think of a way on how to deal with that. It's not the bitcoin's price problem anymore if it will ruined anyone's sleep.

I sold, i was still making a profit. The question is now when to buy back. By the look of things it looks like a pretty big gamble.

Since you entered the investment part of bitcoin then probably you are gambling. When to buy depends on your anaylzation. If you can afford to buy at the current price then just go with it, if you feel not then don't. 

[hacknoid]

This exact same thing happens each time there is a correction; any time the price climbs significantly, there is a sudden pullback to a midpoint right between where the price rise started and where the peak happened.  The current significant rise started around $800, and peaked around $1100; (800 + 1100) / 2 = $950, which is where we are bouncing now.  Bouncing around the midpoint continues for a bit before we settle back into the trend.

I've taken to calling this the "bitcoin heartbeat".  And it won't be the last time this happens.

[RodeoX]

It's a perfect time to trade in China? 

[tabnloz]

China, China , China, China

Did I mention China?

The record strengthening of the offshore Yuan probably has something to do with the plunge. But the conditions that led to bitcoins rise in China are still there; depreciating trend, having to use reserves to defend against the depreciation. So, will probably see a continuation of the pump whenever the CNY goes back to weakening.

[Katewind]

Why it seems that bitcoin is most active at night in the US eastern time?

I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after  hearing my phone vibrate like crazy to find the price dump to 920!!  What do i do now? Hold? Or Sell?

For those in east coast, how do you deal with this volatility during the early hours of the morning???

Yes, Chinese are selling bitcoin . They control the price of bitcoin. They can make it down or up.
That's so bad. I just only look at the bitcoin falling that I couldn't do anything.

[chaser15]

Why it seems that bitcoin is most active at night in the US eastern time?

I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after  hearing my phone vibrate like crazy to find the price dump to 920!!  What do i do now? Hold? Or Sell?

For those in east coast, how do you deal with this volatility during the early hours of the morning???

That is damn normal mate. There is no continous price rise to $1000 that happened since it's ATH so why sacrifice a bit of time. When there is a highly price rise expect a downfall for about $50 above or even $200 since profit takers are on the way.

To deal with this is not the issue, it's just that you assumed that around $1,100 seems stable which is really not. Since it stepped up at $1,000 no such thing as stable here even for less percentage.

[mainpmf]

Why it seems that bitcoin is most active at night in the US eastern time?

I wake up at 4:30am to an alarm from my phone telling me btc dropped from 1120 to 1050 in a matter of minutes. Then i stay awake for about an hour buying and selling during the "volatility" and place a buy order when i see that the price seems stable at 1100 and go back to sleep. Then i freaking wake up again 3 hours later after  hearing my phone vibrate like crazy to find the price dump to 920!!  What do i do now? Hold? Or Sell?

For those in east coast, how do you deal with this volatility during the early hours of the morning???

Ahahah btc trading is like extreme sport! You never know when you're going to die xD

Volatility is high in US nights mainly because big companies and big miners have no reason to not perform their operations when people aren't very active, it's easier for them to manage their trades if they deal with orders placed and not actual people that can react fast.
And I'd say that now is time to buy, or at least place order for around 930$. But it's btc so oyu never know that's the whole point ^^

[piloder]

When this blood bath started it was evening here, i was having a cup of coffee in a restaurant so that i can't quickly dump my holdings from my mobile and thought this was small dump but before i finish that cup of coffee price drop more than $200.  

But i think this drop is temporary because of yuan got stronger out of sudden, which may not continue for longer time so eventually chinese will start to buy bitcoin again.

[BitcoinBarrel]

Many people have to LOSE in order for a few to WIN.

Be honest with yourself that maybe you aren't as knowledgeable of the market as you think, then take a break. If trading is what you are passionate about, then only risk small amounts that you are WILLING TO LOSE. Consider it payment for education and entertainment purposes only, and go from there.

[MiladMax]

Great opportunity to buy BTC under $1k

[BTCLovingDude]

you were asleep when it happened, i went to have dinner and came back to see $1100 is turned into $950

I sold, i was still making a profit. The question is now when to buy back. By the look of things it looks like a pretty big gamble.

at this point and specially after seeing the huge resistance at $850 and the bigger tendency to stay above $900 i'd say it is a great time to buy below $1000 before it is too late.