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Author Topic: Why does BTC drop much more sharply then it rises?  (Read 1207 times)
cellard
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February 28, 2017, 01:17:32 PM
 #21

ha its doing that right now; 1215 down to 1195 and dropping in like 1 minute...

It's very easy to understand, btc grows naturally since its a deflationary currency, and sometimes people panic and decide to dump the coins. This means nothing, since the overall trend is positive, so you can thank those panic sellers since they are making you a discount for you to buy more cheap BTC.

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February 28, 2017, 02:25:18 PM
 #22

i agree with most of what people said, but i would like to add that it is also because of the way exchanges and their orderbooks are. the resistances are big but not as big to prevent these types of drop. and as we have been seeing it jumps right back up but going down sometimes takes not so many coins.

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February 28, 2017, 02:31:10 PM
 #23

When the price goes down, there is mostly panic on the market.
All those who sell, want to sell as much as they can in order to save the profit or cut the losses.
But when they buy, they often buy step by step.

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February 28, 2017, 02:55:36 PM
 #24

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?

  EVERYONE is trying to get out of their position at the same time when the price begins to drop which exerts yuuuuge downward pressure on the value.

 The first time I put money on an exchange to buy Bitcoin, the price began to rise from ~$70 at 9 am and by 11am it was around $270 - scared the shif out of me so I went to bed ( I was working night shift anyway) and when I awoke in the afternoon, it was back down to around $90 again.
True story (though the numbers may not be exact).  The rise was actually much quicker than the drop though the whole episode took less than a day.

 


Bitcoin never appreciated 300% in 2 hours.

Code:
[img]redacted[/img]

This is how it broke $70 the first time.

Code:
[img]redacted[/img]
And this is when it was breaking it a few more times.

 I lived it my friend.  It went 300 percent in one day and came back to earth again.  You're looking at historical charts that don't show any detail for the trading day - only daily closes.
What do you want an affidavit?


You are wrong - it shows also intraday highs and lows - it is called wicks. Your have false memories my friend.

It might make 300 percent around the time when pizza was bought for 1200BTC - but ever since it broke $1 it never did something even close to that.
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February 28, 2017, 02:58:56 PM
 #25

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?

Every single stock does this.

May I HIGHLY recommend Boom bust Boom on Netflix.  A great moving explaining why this happens.
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February 28, 2017, 04:10:53 PM
 #26

Yeah that it obvious if you see stock market also that's not how it works daily many people buy that share
but there's a very less increase in the price but when someone here's something bad happens to the company
the price instantly drops.
Same for bitcoin because if you see there are less bitcoin's which is bought daily so price decreases but if you
remember when the china government announced it is risky the price drop so much because the selling rate
was way more than the buying rate.

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February 28, 2017, 04:25:15 PM
 #27

because selling you give more chance to buy back more coins, while buying not, besides hoping for a better shorting in the future

this make shorting more attractive always, over "longing", but it's not always like that, we had many big pump that surpassed the fast dump

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?

  EVERYONE is trying to get out of their position at the same time when the price begins to drop which exerts yuuuuge downward pressure on the value.

 The first time I put money on an exchange to buy Bitcoin, the price began to rise from ~$70 at 9 am and by 11am it was around $270 - scared the shif out of me so I went to bed ( I was working night shift anyway) and when I awoke in the afternoon, it was back down to around $90 again.
True story (though the numbers may not be exact).  The rise was actually much quicker than the drop though the whole episode took less than a day.

 


Bitcoin never appreciated 300% in 2 hours.

are you sure about 2013? the pump made bitcoin $1200 in two weeks

 Yes 100% positive it was 2013!  My cash deposit into CaVirtex was confirmed April 10, 2013, 7:38 a.m.  It was my first attempt to buy BTC for the purchase of an ASIC Bitcoin miner.   The morning I tried (which I believe was the same morning I found out my cash deposit was confirmed), I placed buy orders up to $90 but I kept missing the price - thought I didn't know how an exchange worked - and then I sat and watched in horror until the price was $270!  I really thought I would never get any Bitcoin after seeing that.  
 The problem with looking at those historical graphs is that you only see the daily close (or maybe the daily average). On the day I'm speaking of, it went up and down within hours.  I'll see if I can find more detail for April 10th - CaVirtex is gone now - sold out another entity and now it's part of Kraken - so I'm not sure I can find any records of my attempts to buy.


Come on. April 10 was the peak of the first bubble in 2013 - it is well remembered. It indeed dropped from 265 to about 100 in about 8 hours (still far from 260 to 70 in 2 hours) - but it started that day from above 220 and the day before from above 170 (maybe you confused 170 with 70 and days with hours?).
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February 28, 2017, 04:38:59 PM
 #28

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?

  EVERYONE is trying to get out of their position at the same time when the price begins to drop which exerts yuuuuge downward pressure on the value.

 The first time I put money on an exchange to buy Bitcoin, the price began to rise from ~$70 at 9 am and by 11am it was around $270 - scared the shif out of me so I went to bed ( I was working night shift anyway) and when I awoke in the afternoon, it was back down to around $90 again.
True story (though the numbers may not be exact).  The rise was actually much quicker than the drop though the whole episode took less than a day.

 


Bitcoin never appreciated 300% in 2 hours.

Code:
[img]redacted[/img]

This is how it broke $70 the first time.

Code:
[img]redacted[/img]
And this is when it was breaking it a few more times.

 I lived it my friend.  It went 300 percent in one day and came back to earth again.  You're looking at historical charts that don't show any detail for the trading day - only daily closes.
What do you want an affidavit?


You are wrong - it shows also intraday highs and lows - it is called wicks. Your have false memories my friend.

It might make 300 percent around the time when pizza was bought for 1200BTC - but ever since it broke $1 it never did something even close to that.

 I'm not going senile yet.  I lived it.  Too bad you missed it and have to rely on some flawed historical data.  I wish I had taken a screen shot or two... I was busy talking to a buddy on the phone about it as it went down.  


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February 28, 2017, 04:42:05 PM
 #29

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March 01, 2017, 06:34:25 AM
 #30

...
 I lived it my friend.  It went 300 percent in one day and came back to earth again.  You're looking at historical charts that don't show any detail for the trading day - only daily closes.
What do you want an affidavit?


You are wrong - it shows also intraday highs and lows - it is called wicks. Your have false memories my friend.

It might make 300 percent around the time when pizza was bought for 1200BTC - but ever since it broke $1 it never did something even close to that.

 I'm not going senile yet.  I lived it.  Too bad you missed it and have to rely on some flawed historical data.  I wish I had taken a screen shot or two... I was busy talking to a buddy on the phone about it as it went down.  


And yet - have a look at this Cavirtex chart:
this is 10th of April 2013.

Have a read on https://en.wikipedia.org/wiki/False_memory
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March 01, 2017, 07:28:37 AM
 #31

If we look more in deep, we can see that when Huobi and Okcoin stopped transactions, this caused panic in america's marketplace and people started massive selling in hope that bitcoin's price will be droped because of that factor but suddenly we saw absolutely other situation, price become stable.
I wanted to say this example to show you why is that all happening, also there are many factors and some people wants to control price.

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xhomerx10
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March 01, 2017, 01:14:47 PM
 #32

...
 I lived it my friend.  It went 300 percent in one day and came back to earth again.  You're looking at historical charts that don't show any detail for the trading day - only daily closes.
What do you want an affidavit?


You are wrong - it shows also intraday highs and lows - it is called wicks. Your have false memories my friend.

It might make 300 percent around the time when pizza was bought for 1200BTC - but ever since it broke $1 it never did something even close to that.

 I'm not going senile yet.  I lived it.  Too bad you missed it and have to rely on some flawed historical data.  I wish I had taken a screen shot or two... I was busy talking to a buddy on the phone about it as it went down.  


And yet - have a look at this Cavirtex chart:
this is 10th of April 2013.

Have a read on https://en.wikipedia.org/wiki/False_memory

 Heh!  Well now I don't even know for sure if I was being sexually abused at the time because I thought I was in the house alone.  Maybe I wasn't even trying to buy Bitcoins so I could order one of those BFL 50's?   OMG - I just looked in my computer room... well what I thought was my computer room... and I don't even have a computer in there!  Shit it's not even a computer room! It's a pantry. BFL doesn't exist, CaVirtex doesn't exist - it was all just a false memory.

  I guess the prosecution will have to invoke the false memory theory.  I'm sticking with my story.
 


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NUFCrichard
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March 01, 2017, 01:43:57 PM
 #33

I think that the price slowly appreciates but sharply drops is a good thing generally, better at least that the other way round.
I see it is the weight of buyers slowly pushing the price up over time, and a whale dumping to try to disturb the market, or take profit or buy back cheaper (I have never really understood why a whale would dump on the market)

The other way round would show to me that the masses want out, but the whales are propping up the price.

But maybe that is my rose tinted glasses talking!


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Hunyadi
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☑ ♟ ☐ ♚


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March 01, 2017, 03:52:10 PM
 #34



Bitcoin never appreciated 300% in 2 hours.


Confirmed.

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mundang
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The Blockchain Evolution of Prediction Markets


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March 01, 2017, 03:58:14 PM
 #35

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?
I think smart traders are spreading fake news saying its time to sell, to attract holders to sell and dump thier btc and it will create a panic ,and thats why bitcoin price goes down really fast.

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Oralmat
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March 01, 2017, 04:09:30 PM
 #36

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?

I do not agree with you. BTC goes up and stays there for a while, Then it dips but not that much. Soon it rise again. This is been going on for few months and i think it means that people are not willing to dump the coins and they have more trust in bitcoins.
Pierre 2
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March 01, 2017, 04:58:57 PM
 #37

I think people are generally in rush when trading.
So bad weather(bad news) affect them very easily.

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Sundark
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March 01, 2017, 05:42:09 PM
 #38

I have noticed BTC while overall goes up, in say a run up, it seems to drop really fast....why is this in your opinion?
It's nothing strange. Generally speaking, it is harder to pump the price up than dump it later. There is psychological factor as well.
When price is dropping FUD is spreading, this cause that weak hands sell to minimize their loses.
Another element we had up until PBoC intervention was popularity of margin trading speculation in China.
With margin trading both profits and losses are multiplied but when decline is starting every margin trader sell like crazy.

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