toknormal
Legendary
 Offline
Activity: 3066
Merit: 1188
|
 |
January 16, 2018, 09:02:40 AM |
|
Bottom is either $7500 or $4300.
That bounce at $11700 was pretty peely-wally.
|
|
|
|
|
|
Higher Altitude
|
|
January 16, 2018, 09:04:04 AM |
|
You mean someone sold 111424 BTC in one fell swoop?
Would explain the sudden plunge in price. Positive. |
|
|
|
|
|
Spaceman_Spiff_Original
|
|
January 16, 2018, 09:06:16 AM |
|
Never a dull moment. Weak hands are panicking after some old whale placed a market order?  Someone got rich. @whalecalls 22m22 minutes ago Okcoin $BTCUSD Quarterly futures has liquidated a long position of 111424 contract at 12,069.65 - 2018-01-16 16:30:04 You mean someone sold 111424 BTC in one fell swoop? Sounds awfully close to the amount the Winklevoss have been holding.  1 contract does not equal 1 btc.... |
|
|
|
|
bitserve
Legendary
Offline
Activity: 1988
Merit: 1651
Self made HODLER ✓
|
|
January 16, 2018, 09:11:16 AM |
|
Never a dull moment. Weak hands are panicking after some old whale placed a market order? Someone got rich. @whalecalls 22m22 minutes ago Okcoin $BTCUSD Quarterly futures has liquidated a long position of 111424 contract at 12,069.65 - 2018-01-16 16:30:04 You mean someone sold 111424 BTC in one fell swoop? Sounds awfully close to the amount the Winklevoss have been holding. 1 contract does not equal 1 btc.... A contract is $100 if that hasn't changed. So.. $11.142.400 That's the total value of the position that got LIQUIDATED. So that guy is a few (depending on leverage used) millions poorer not richer. |
|
|
|
|
BitcoinBunny
Legendary
Offline
Activity: 1708
Merit: 2951
Far, Far, Far Right Thug
|
|
January 16, 2018, 09:13:55 AM |
|
I still don't get how pulling 1.3 billion out of crypto gives a massive drop of a total $100 billion+ within such a short space of time.
|
|
|
|
|
|
Higher Altitude
|
|
January 16, 2018, 09:17:38 AM |
|
I still don't get how pulling 1.3 billion out of crypto gives a massive drop of a total $100 billion+ within such a short space of time.
It's probably not the reason. And as someone pointed out 1 contract is 100$, not 1BTC so it's not $1.3B. But I think if it was $1.3B it could have a similar effect when there is low volume imho. I remember last year around the same time the same thing happened and BTC crashed quite hard and took until February to recover. Now looking back at the chart it was just a speedbump. |
|
|
|
|
BitcoinBunny
Legendary
Offline
Activity: 1708
Merit: 2951
Far, Far, Far Right Thug
|
|
January 16, 2018, 09:19:44 AM |
|
I still don't get how pulling 1.3 billion out of crypto gives a massive drop of a total $100 billion+ within such a short space of time.
It's probably not the reason. And as someone pointed out 1 contract is 100$, not 1BTC so it's not $1.3B. But I think if it was $1.3B it could have a similar effect when there is low volume imho. I remember last year around the same time the same thing happened and BTC crashed quite hard and took until February to recover. Now looking back at the chart it was just a speedbump. Yeah I guess volume is the issue here indeed. a $10K BTC is still an expensive BTC which most people cannot afford to buy a whole one of I would have thought. Onwards and upwards (Eventually & hopefully). |
|
|
|
|
|
Lontonbit
|
|
January 16, 2018, 09:20:24 AM |
|
South Korea said the might ban bitcoin trading again. That caused it.
|
|
|
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1442
Merit: 2284
Degenerate bull hatter & Bitcoin monotheist
|
|
January 16, 2018, 09:24:59 AM |
|
I’m feeling better about selling down some at $13,700.
I’m ready for winter even if I am still 80% long. Scratch my back and call me a polar bear.
|
|
|
|
|
|
Lontonbit
|
|
January 16, 2018, 09:32:36 AM |
|
Doesn't seem to be excelerating, it's actually bouncing |
|
|
|
|
|
Higher Altitude
|
|
January 16, 2018, 09:35:52 AM |
|
Doesn't seem to be excelerating, it's actually bouncing At least we have front row seats.  And tell stories to our great grandchildren about how we were there. |
|
|
|
|
BitcoinBunny
Legendary
Offline
Activity: 1708
Merit: 2951
Far, Far, Far Right Thug
|
|
January 16, 2018, 09:36:28 AM |
|
Seems to be FUD upon FUD looking at media outlets this morning.
But then the media spreads FUD about anything these days when you think about it; going to concerts, travelling, even leaving your own house (or not).
I'm HOLDing regardless. They can stick their FUD up their backsides sideways.
|
|
|
|
|
vroom
Legendary
Offline
Activity: 1358
Merit: 2442
a Cray can run an endless loop in under 4 hours
|
|
January 16, 2018, 09:36:59 AM |
|
this dip is good for bitcoin dominance. it's up to 35,7% right now.
|
|
|
|
|
|
xxxx123abcxxxx
|
|
January 16, 2018, 09:37:56 AM |
|
Doesn't seem to be excelerating, it's actually bouncing At least we have front row seats. And tell stories to our great grandchildren about how we were there. Doesn't seem to be excelerating, it's actually bouncing My dear friend, it will slice through like a hot knife through butter; dear oh dear... millennials |
|
|
|
|
Neo_Coin
Sr. Member
Offline
Activity: 1204
Merit: 293
"Be Your Own Bank"
|
|
January 16, 2018, 09:39:35 AM |
|
|
|
|
|
|
bitserve
Legendary
Offline
Activity: 1988
Merit: 1651
Self made HODLER ✓
|
|
January 16, 2018, 09:41:19 AM |
|
That's the total value of the position that got LIQUIDATED. So that guy is a few (depending on leverage used) millions poorer not richer.
I should probably not try to analyze things when I get up in the middle of the night... back to sleep for me... Here's hoping the front hasn't fallen off Bitcorn when I wake up again in a few hours... But it is true that long positions being liquidated is what drives the price down FURTHER. No matter if the guy lost money, those $11 million BTC got sold to liquidate the position. Most of the time, the extreme movements up/down is prolonged by sort/long squeezes that are forced to buy/sell coins. It's not like there is that many people selling at the bottom nor buying at the ATH. |
|
|
|
|
|
Lontonbit
|
|
January 16, 2018, 09:45:15 AM |
|
Doesn't seem to be excelerating, it's actually bouncing At least we have front row seats. And tell stories to our great grandchildren about how we were there. Doesn't seem to be excelerating, it's actually bouncing My dear friend, it will slice through like a hot knife through butter; dear oh dear... millennials Your chart is a fart in the wind 💨 |
|
|
|
|
UnDerDoG81
Legendary
Offline
Activity: 2191
Merit: 1233
|
|
January 16, 2018, 09:46:25 AM |
|
Finally it's happening. I am 100% in btc and hodl. But this crash was needed. Alts crashing dramatically.
|
|
|
|
|
JayJuanGee
Legendary
Offline
Activity: 4200
Merit: 12907
Self-Custody is a right. Say no to "non-custodial"
|
|
January 16, 2018, 09:49:17 AM |
|
Where are the buyers??
Me, me, me. |
|
|
|
|
|
Poll
