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Author Topic: Did AlphaBay bust affect price of bitcoin?  (Read 752 times)
realHCplease
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July 20, 2017, 03:45:11 AM
 #1

Do you think the recent bust and shutting down of AlphaBay market affected the cryptocurrency prices ??
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July 20, 2017, 04:50:47 AM
 #2

To an extent, the larger the number of merchants vendors and users and the more alternatives there are the less impact it has on the market in general.
But the overhanging issue is still August 1st and the signalling.
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July 21, 2017, 04:20:32 PM
 #3

The seized coins are quite an insignificant amount really.  Also, when governments sell those seized coins, they tend to do auctions instead of selling them on exchanges, so they don't affect the market directly.

If you mean that the price would fall because of the emotional impact on dark net markets, it doesn't matter.  Everyone is running off to Dream Market next, and after that they'll just go to another one.  If a decentralised marketplace is needed it'll happen - when multisig is needed it'll be used.  Frankly, the authorities have very little power over people on the dark web despite all their bravado and tracking.

The fact that the price didn't have a quick crash like it did after the collapse of Silk Road either shows that BTC is no longer as reliant on the dark net as it used to be, or that dark net users have matured to governments shutting down marketplaces.  Either way, it's bullish for BTC long-term.
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July 21, 2017, 06:47:05 PM
 #4

Do you think the recent bust and shutting down of AlphaBay market affected the cryptocurrency prices ??

affected the cryptocurrency prices ? yes,it's.
but it's not really significantly,because total amounts that have been collected not really much,
around 800.000$ which is only approximately around 266BTC,
it will only push the price from ex : 2800$ to 2700$ or even less than that.
but,other than that may be some people who's always using alphabay selling their holding because it's not use keeping Bitcoin,
because they're only using it as a payment in alphabay (more likely nobody like that,but everything is possible so we take a worst scenario).

overall free worries,don't take it seriously about alphabay,the most important thing is split chain (likely bip91 but who knows)


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July 21, 2017, 10:50:06 PM
 #5

It has already affected the price and we've already witnessed the recovery.
Most probably vendors from AlphaBay moved to other marketplaces and
things are back to usual.
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July 28, 2017, 09:59:32 AM
 #6

Of course affect the current bitcoin price. Especially in 1agustus later. But I can not give any predictions. Because we will not know what will happen later. But I assume that bitcoin will get better. This can make investors want to invest in bitcoin. I think it takes time to make bitcoin better. All there is the process. So I hope the bitcoin forward could be even better. The problem of divisions that will occur. It's just a process toward improvement. Will certainly make a panic. But I do not think it will last long. Need patience so bitcoin can be better again.

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eternalgloom
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July 28, 2017, 12:26:26 PM
 #7

It has already affected the price and we've already witnessed the recovery.
Most probably vendors from AlphaBay moved to other marketplaces and
things are back to usual.
Did you mean it affected the price because of the news of the bust and people selling because of it or because of the influx of new coins on the market?
I don't think the sale of the coins themselves would have that much impact on prices since it's an insignificant amount.

Also wouldn't really think that the news itself would have a big impact on the price, but could be wrong about that one.

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July 28, 2017, 01:25:46 PM
 #8

It might have affected but nobody took notice and it would be impossible to measure any effect it could have thrown to Bitcoin. Now, the market just shrugged off what happened to AlphaBay principally because no direct action was taken on Bitcoin as a result of the busted dark web market. It did not caused any fear or apprehension. And I think the fact is that the dark web market is not the driving force for Bitcoin (this could have been true in the past but not anymore).

The market is more concerned about the coming August 1 because of the possible split and there can be problems as the result. However, Bitcoin is now back at $2,800 level maybe already discounting that announcement about BitcoinCash.
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July 28, 2017, 01:30:08 PM
 #9

Yes it did for a while, the bust happened when bitcoin dipped under two thousand dollars. It must have had some effect, nonetheless bitcoin is proving to be resilient against all the recent bad news ala btc-e, alphabay and the likes.
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July 28, 2017, 04:52:45 PM
 #10

Yes it did for a while, the bust happened when bitcoin dipped under two thousand dollars. It must have had some effect, nonetheless bitcoin is proving to be resilient against all the recent bad news ala btc-e, alphabay and the likes.

If the price of Bitcoin has rebounded so easily after so much bad news, we can safely say that these news do not have any long term impact on the price. They may cause small blips, but that really doesn't matter in the long term.
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July 28, 2017, 07:51:55 PM
 #11

Yes it did for a while, the bust happened when bitcoin dipped under two thousand dollars. It must have had some effect, nonetheless bitcoin is proving to be resilient against all the recent bad news ala btc-e, alphabay and the likes.

If the price of Bitcoin has rebounded so easily after so much bad news, we can safely say that these news do not have any long term impact on the price. They may cause small blips, but that really doesn't matter in the long term.

Yes. Just a temporary effect and actually we didn't feel much about it. The only long term effect I saw before was that of the first SEC decision rejecting the twins application for a ETF. That's what you can significant because the price plummeted to below $1000. But this Alphabay news may have but not enough to put a dent on the current price. We may see another big impact is this hard fork that is looming in a few days. We just need to be calm though and brace for it.

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July 28, 2017, 08:47:31 PM
 #12

Not much. Bitcoin has gone through many 'typhoons' before and still managed to come out strong. It has reached a point where very few world events affect btc's price. Bitcoin has developed some 'thick skin'. I however think the shutdown of AlphaBay led to a decrease of customers on some peer to peer bitcoin trading platforms.

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July 28, 2017, 09:49:27 PM
 #13

Not much. Bitcoin has gone through many 'typhoons' before and still managed to come out strong. It has reached a point where very few world events affect btc's price. Bitcoin has developed some 'thick skin'. I however think the shutdown of AlphaBay led to a decrease of customers on some peer to peer bitcoin trading platforms.

Artificial effect only on the price. I haven't seen the price goes hard as a result of the news. I think those AlphaBay users are only a few that's why the price is not significantly or negatively affected. I agree with you saying that this is just another bump that bitcoin can easily overcome. So we seen much worst scenario before but bitcoin managed to come back even strong. Yeah probably just a small portion of AlphaBay users who used trading platforms to purchase bitcoin to buy something on the website has become smaller.

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yoseph
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July 28, 2017, 09:54:18 PM
 #14

Do you think the recent bust and shutting down of AlphaBay market affected the cryptocurrency prices ??
Even though the price went down for some time, it seems to be bouncing back which is some good news, I remember when the Mt Gox incident also sent the price of bitcoins down the drain some time ago. The price is stable now, now the next hurdle is August 1.
giveen
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July 28, 2017, 10:03:02 PM
 #15

Not really alphabay had expanded a lot and tracing of transaction was still possible so people started using alts like xmr , dash , the government did seize 300 btc but as he said before the government won't really sell it on an exchange like every other thing they get from a criminal they either return it to it's original owners or in this case as he said simply auction it.
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July 28, 2017, 10:41:24 PM
 #16

Yes it did for a while, the bust happened when bitcoin dipped under two thousand dollars. It must have had some effect, nonetheless bitcoin is proving to be resilient against all the recent bad news ala btc-e, alphabay and the likes.
Yep, and that shows that cryptomaket is becoming more "mature" each day. The amounts collected in AlphaBay were tiny but it could have more influence on user's behaviour. Maybe some of them just dont watch the news but it is more likely that the market became more resistant to such issues. Something more serious should happen (meybe any technical problem) to destabilize crypto in long term.

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July 28, 2017, 10:58:58 PM
 #17

Do you think the recent bust and shutting down of AlphaBay market affected the cryptocurrency prices ??
Even though the price went down for some time, it seems to be bouncing back which is some good news, I remember when the Mt Gox incident also sent the price of bitcoins down the drain some time ago. The price is stable now, now the next hurdle is August 1.

Now it looks most of the investors want to in invest in bitcoins because they are thinking that if the split happens then they will get an equal number of Bitcoin cash coin. That's why most of the altcoins are in red but Bitcoin is up. But the real price will come to know after 1st August. I think Bitcoin prices will correct more even after 1st August.
LieXurui
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July 28, 2017, 11:08:25 PM
 #18

Do you think the recent bust and shutting down of AlphaBay market affected the cryptocurrency prices ??

I think not big effect, bitcoin price this now incraese again and stable price
alphabay problem i think effect BTC-problem, but i think next time can open service again, i think not BTC-e exchanger bitcoin without verified ID
Pearls Before Swine
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July 28, 2017, 11:17:19 PM
 #19

Nah.  Would Walmart shutting down affect the strength of the US dollar?  I don't think so.  Shutting down businesses, regardless of how
big they are shouldn't have any effect whatsoever.  And look at how good bitcoin is doing anyhow.  We're cranking
along, back up near the ATH.  Not even big exchanges biting the dust does much to the price for long.  You've all
seen that, and this is just like it.
6Asmodeus6
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July 28, 2017, 11:41:39 PM
 #20

I don't think so.I was carefully watching the prices and there wasn't a big change which is expected.Goverments who seizes bitcoins mostly do sell them(If you are in Turkey they tend to destory HDD because they don't know how to sell lol).It wasn't an exchange site or anything and there will be new one's so i don't think it will ever effect the prices.
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