What is going on, who is selling at these prices?

[Bitcotalk]

I am also wonder that why people are agree to sell their bitcoins at that lower price even they have saw that the price can be more than $1150. I think they are the people who see the price lowering down a little bit and they worrying about the more down and start to sell what they have. They are the newbie who just hold by seeing the ups only.

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[thepo1m]

Some are new to how human psychology affect trading and follow the herd but some just don't learn from the past mistake, I could remember some weeks ago when Augur account of Ethereum investor was hacked, some people sold their Augur token for 10ksat and the second day the price went back to 400ksat

[iTradeChips]

this is normal in trading. when the price went up to about the 2013 all time high, naturally many traders took profits and the prices went down. this triggered panic selling to other bitcoin holders and the price went down further. looks like its bouncing back now

[Deep In The Mines LLC]

Some people have leverage, some people just want to take their profit, there are short-term and long-term traders.

Short-term traders shouldn't trade with emotions else they might end up selling at a loss, which unfortunately seems to be the case for a lot of newbie traders.

Long-term traders generally understand how bitcoin works, and are more comfortable with a drop.

As you can tell, there are several variables and reasons for people selling, the majority of the selling is really from short-term traders.

[marcoman22]

New traders who got panic due to btc price fall and big whales who just want btc price to fall more are selling bitcoins now.Whales will definitely rebuy it when its price falls much below $800. Its better not to follow panic sellers and hold bitcoins. We can see the present situation is much better than 2013 fall as more people know about bitcoins and demand for btc has kept its price from falling below $750.Otherwise the price would have gone to $500.

[error08]

I just dont get it.  i have been in bitcoin since 2012 so i understand the ups and downs in price.  i have also been acquiring bitcoin since then.  but i just dont understand the how people can still be selling at below $800. 

is it just people who are recent into the market ?  i thought it was abit early for ATH last week but i didnt expect a pull back to below $800. 

what ya thinking?

It just another manipulation by big investors as they have money to do it in my opinion.
The current price keep fluctuate but seems more drop than rises, every day many holders and traders may sell their bitcoin which they had planned to if the price reach certain point such as $1100-$1000-$900-and $800.
This situation is so beneficially for daily traders as they could buy some bitcoin at $750 and sell it in the next day at $800.

[lionheart78]

I just dont get it.  i have been in bitcoin since 2012 so i understand the ups and downs in price.  i have also been acquiring bitcoin since then.  but i just dont understand the how people can still be selling at below $800. 

is it just people who are recent into the market ?  i thought it was abit early for ATH last week but i didnt expect a pull back to below $800. 

what ya thinking?

It just another manipulation by big investors as they have money to do it in my opinion.
The current price keep fluctuate but seems more drop than rises, every day many holders and traders may sell their bitcoin which they had planned to if the price reach certain point such as $1100-$1000-$900-and $800.
This situation is so beneficially for daily traders as they could buy some bitcoin at $750 and sell it in the next day at $800.

I agree and also see it that way.  there is also some thought in my mind that the government of China is accumulating Bitcoin itself.  If you check the pattern, it was China government that release a news way back 2013 that starts a burst and price decline.  And it is China today that starts the decline of Bitcoin price by announcing something that will shaken bitcoin holders into selling. Well it is just me and my imagination but the possibility is there.  They are manipulating Bitcoin price to their advantage.

[Zisove28]

It works like this:
People buy coins at a price, let's say $100. When the price goes up they hold in hope for a larger gain, but when it starts falling back to $100 they sell, afraid to go below, while in fact going to $90 for a month wouldn't hurt them in the long run. This starts a chain reaction, those who bought at $99 think the same and sell at $100, and so on, until we reach the moment when those who sold at $120 and below decide it's a good price to buy back. It may be $90 or 80 or 70, depending on the attitude towards the stock, or coin.

yes you have led a very good example. Thus there is on the market. Some foolishly lose money. but if a little continued, it could well earn money

[bones]

I guess they are the ones who are impatient. maybe they want to make bitcoin prices down, so they can buy bitcoin at a bargain price. Well, I was also surprised to see the price of bitcoin down very quickly. I do not think they could sell their bitcoin under $ 800. but, maybe they have a bitcoin very much, and had to sell in large numbers.

as you know china is owning nearly 90% total bitcoin in the world. why we don't consider this big amount? and they can control this market. Everytime china has any bad news about bitcoin then the price is going down deeply.

We dont know this at all...
Do you have some magic that lets you see who owns what address and where in the world they are located?

Im guessing not.

[streazight]

I just dont get it.  i have been in bitcoin since 2012 so i understand the ups and downs in price.  i have also been acquiring bitcoin since then.  but i just dont understand the how people can still be selling at below $800. 

is it just people who are recent into the market ?  i thought it was abit early for ATH last week but i didnt expect a pull back to below $800. 

what ya thinking?

It just another manipulation by big investors as they have money to do it in my opinion.
The current price keep fluctuate but seems more drop than rises, every day many holders and traders may sell their bitcoin which they had planned to if the price reach certain point such as $1100-$1000-$900-and $800.
This situation is so beneficially for daily traders as they could buy some bitcoin at $750 and sell it in the next day at $800.

I agree and also see it that way.  there is also some thought in my mind that the government of China is accumulating Bitcoin itself.  If you check the pattern, it was China government that release a news way back 2013 that starts a burst and price decline.  And it is China today that starts the decline of Bitcoin price by announcing something that will shaken bitcoin holders into selling. Well it is just me and my imagination but the possibility is there.  They are manipulating Bitcoin price to their advantage.

If it is true then that must be a very great news for entire bitcoin ecosystem. It doesn't matter whether China is adopting bitcoins officially or unofficially. But if it happens then definitely will give us better benefits in long term.

I too believe intensively they are selling right now to get better prices to buy back.

[Amph]

this is normal in trading. when the price went up to about the 2013 all time high, naturally many traders took profits and the prices went down. this triggered panic selling to other bitcoin holders and the price went down further. looks like its bouncing back now

no it's not normal, it was said and it's robably correct that the chinese exchange are under invastigation by their governemtn which might close them

this produced a panic sell from the chinese which result in the price to crush, in another words this is another bad news that destroyed the value so easily

[adzino]

Users just selling it because they are panicking. Greater percent of coins are being owned by the Chinese people. The bitcoin inspection by the Chinese central bank caused them to panic and now they are selling them causing the price to drop, while others seeing this drop are also doing the same.

[nydiacaskey01]

I just dont get it.  i have been in bitcoin since 2012 so i understand the ups and downs in price.  i have also been acquiring bitcoin since then.  but i just dont understand the how people can still be selling at below $800. 

is it just people who are recent into the market ?  i thought it was abit early for ATH last week but i didnt expect a pull back to below $800. 

what ya thinking?

They are selling because they think price will continue to go down and you can't blame them, it's just human nature to panic when they see that their investment is starting to loose its value so better sell now than sell later at a more low price specially this week when there is a big drop of BTC rate in a span of hours. If they don't sell it right away, they might be selling their BTC way below their desired price.

[terrate]

People will follow the market trend that's why selling.
lucky not a big panic. 

also quite surprise for me the action of china even before that i think the price up too fast to 1k and want to selling .

[deisik]

I just dont get it.  i have been in bitcoin since 2012 so i understand the ups and downs in price.  i have also been acquiring bitcoin since then.  but i just dont understand the how people can still be selling at below $800

Obviously, there are different types of people involved in Bitcoin trading

Most likely, you refer to day traders who are scalping small profits, they will always be selling and buying at whatever price. Apart from them, there are arbitrageurs who may be seeking for arbitrage opportunities with Bitcoin at different exchanges or with different currencies at the same exchange (or with different currencies at different exchanges). Other than that, have you ever asked yourself who are all those people that were buying when the price went above 1,000 dollars?

[KennyR]

Every user doesn't have the same need and requirements. Everyone plan to sell at the increased price which is not at all possible. Only the person making closer predictions will sell at the right time. The same has happened now, though they knew that the price moves up, the need makes them sell even at lower prices.

[Xester]

The incident that has triggered the panic selling started at China when the central bank of China made an announcement to bitcoin holders in China to be careful in investing in bitcoin due to its volatile nature. Though the announcement was simple but the impact was great, Chines bitcoin holders who are newbie to the business sold their bitcoins that has instantly put down the price of bitcoin from 1000$ down to 900$. That event was not the end after that drop in price bitcoin holders around the world panicked and also sold their bitcoins and that has turned bitcoins price down to 700$.

After the panic halted, bitcoins price has started to increase slowly again and hope it will hit back to 1000$ by the end of January.

[lol3c]

We have to accept the truth that there are many people who do not believe in Bitcoin and many others still consider Bitcoin as a type of investment. Therefore, when Bitcoin prices are high enough, they will sell bitcoin so as to get some profit. This makes the Bitcoin prices drop and cause other people feel nervous about holding Bitcoin. Then, most of the nervous people will sell their Bitcoin because they scare that they could lose the profit

[GOT7]

The same people who sell all the way to 800. There is many people, scared Chinamen miners, scared chinaman, scared investors who invested at the top, people taking profits, longs being called. For someone who has been here since 2012 you don't seem to know much.

[deisik]

The incident that has triggered the panic selling started at China when the central bank of China made an announcement to bitcoin holders in China to be careful in investing in bitcoin due to its volatile nature. Though the announcement was simple but the impact was great, Chines bitcoin holders who are newbie to the business sold their bitcoins that has instantly put down the price of bitcoin from 1000$ down to 900$. That event was not the end after that drop in price bitcoin holders around the world panicked and also sold their bitcoins and that has turned bitcoins price down to 700$

It was just a matter of time

As you correctly noted, a small announcement triggered an avalanche of panic sell-offs. But if it hadn't been this announcement, there would have been another such triggering event setting off massive correction. Simply because most people felt that the price was rising too fast and that wouldn't last for long. In a sense, the correction (or dump) had already been scheduled