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Author Topic: why the dump ?  (Read 1678 times)
vince212
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September 04, 2017, 11:28:00 AM
 #1

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?
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September 04, 2017, 11:36:29 AM
 #2

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

Check the news buddy... Chinese ICO ban is causing panic selling all over the place. Bitcoin was in a correcting phase within itself for some reason, now this just made it worse.
Don't fall for the panic, the sale of Bitcoin is not justified by these news. Chinese banning scammy ICO's is actually good for BTC, because people will hold their BTC instead of gambling in the ICO market.

Hold on to your coins and buy the dip, we will be back up stronger than ever after this nonsense.

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September 04, 2017, 11:40:38 AM
 #3

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

The bitcoin price decreased with around 300 USD to 4340 USD.Why are you asking will btc hit 4k again?
BTC is over 4K right now.The ICO related news from China will hit the altcoins,most likely ethereum.
I don`t  understand why the ICO ban causes panic selling.

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September 04, 2017, 11:48:05 AM
 #4

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

Well, Muslims are celebrating Eid-Kabir worldwide where they normally spends a lot of money on celebrating that lead to slaughtering cattle, camels, rams and other higher animals as well. I think that is one of the reason that causes these massive dump in the market on both bitcoin and Altcoins.    
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September 04, 2017, 11:54:31 AM
 #5

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

It clearly because of the Chinese ban, this only touches the ICOs but maybe people are afraid its going to affect crypto that currently exists. I still don't think bitcoin will suffer from this though.

Well, Muslims are celebrating Eid-Kabir worldwide where they normally spends a lot of money on celebrating that lead to slaughtering cattle, camels, rams and other higher animals as well. I think that is one of the reason that causes these massive dump in the market on both bitcoin and Altcoins.   

I'm a Muslim and I honestly don't know how you came to this conclusion. The Eid is nothing expensive and It was on last friday, It wouldn't make sense to see the dump happening now.

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September 04, 2017, 12:01:09 PM
 #6

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

It clearly because of the Chinese ban, this only touches the ICOs but maybe people are afraid its going to affect crypto that currently exists. I still don't think bitcoin will suffer from this though.

Well, Muslims are celebrating Eid-Kabir worldwide where they normally spends a lot of money on celebrating that lead to slaughtering cattle, camels, rams and other higher animals as well. I think that is one of the reason that causes these massive dump in the market on both bitcoin and Altcoins.   

I'm a Muslim and I honestly don't know how you came to this conclusion. The Eid is nothing expensive and It was on last friday, It wouldn't make sense to see the dump happening now.

Lol, agreed with you. Eid and correction in the bitcoin price has no relation at all and it does not make any sense. I also think that, the chinese ICO ban has created the panic situation and few investors has sold their coins in the fear of loosing the money.

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September 04, 2017, 12:02:43 PM
 #7

Yeah this was caused by the Chinese banning the ICO market which cause people to panic and sell their bitcoins. But I'm pretty sure bitcoin will be able to bounce back and I think that we should take advantage of this to do buy and sell.

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September 04, 2017, 12:15:46 PM
 #8

Besides the Chinese ICO ban news, I think 5k is a pretty big psychological barrier in terms of just the bitcoin price. Might take longer than a lot of people expect for bitcoin to break 5k.

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September 04, 2017, 12:19:39 PM
 #9

Yeah this was caused by the Chinese banning the ICO market which cause people to panic and sell their bitcoins. But I'm pretty sure bitcoin will be able to bounce back and I think that we should take advantage of this to do buy and sell.

If the banning of the Chinese government of ICO because of its illicit activitiy that cause the subsequent dump, then is one indication that the Chinese still have somewhat 'control' of the price movement of bitcoin. So we may expect the dump for more days to come before we may see green again.

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

Well, Muslims are celebrating Eid-Kabir worldwide where they normally spends a lot of money on celebrating that lead to slaughtering cattle, camels, rams and other higher animals as well. I think that is one of the reason that causes these massive dump in the market on both bitcoin and Altcoins.    

I disagree with you. Are you saying that Muslims will dump their bitcoin to bought animals so that they would have something to feast on this event? I don't think so.

Besides the Chinese ICO ban news, I think 5k is a pretty big psychological barrier in terms of just the bitcoin price. Might take longer than a lot of people expect for bitcoin to break 5k.

Most likely. Its like $3000 before. It took us months to break this wall actually. If not for the Aug 1 split, we may never see that wall broken. If this can be applied again, bitcoin will took months just to get to $5000 and see if this could be sustain by then.
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September 04, 2017, 12:28:02 PM
 #10

The ICO ban in China is like a general hit to the crypto currency market.
All those newly created coins brought money into the market. Now they can't do that anymore.
That's why money leaves the market of crypto currencies now.
Some investors fear that this might be the beginning of the end of the booming phase.

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September 04, 2017, 12:35:27 PM
 #11

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?
Go to cointelegraph's website and you would find out something relevant to your question. I agree with the replies above mine, since ICOs are banned in China, people are selling their altcoins to fiat (not to btc because they had probably seen that btc is going low).

Regarding bitcoin hitting 4k; man, I don't know who's gonna love that... unless you are a newcomer and would like to enter bitcoin for the first time. So far it seems like there is a support @ 4,300 and resistance @ 4,700. Correct me if I am wrong.

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September 04, 2017, 12:37:13 PM
 #12

I see on coindesk that isreal are also looking at regulating ico token sales this is all bad news for some ico sales i think
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September 04, 2017, 12:38:46 PM
 #13

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

alt-coins price are drop down because bitcoin is soon to pump again. i think it is the signal that our bitcoin soon to hit $4k, so all alt-coins are affected for this phenomenon. exactly picture of whale moving underwater with some fish rapidly swim away from whale.

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September 04, 2017, 12:49:33 PM
 #14

Well i think the drop is caused by a price correction since bitcoin is reaching all time high time highs last week so people cashing out their bitcoins and china is banning ICOs to their country bu t i don't think that contributes to the drop but i think this a good time to buy bitcoins before the pumping begins again.



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September 04, 2017, 01:00:54 PM
 #15

dont panic if bitcoin will down to 4k as it was 400 USD before... There are factors that bitcoin price is affect by the chinas ICO banning but I think it probably affected is Altcoin especially ethereum . but as I see in the news [in my own understanding] not all ICO is banned by China those who are suspected ICO scam are one who kick off. Jack Ma will be piss off if all ICO will be ban in china as this prominent Billionaire are invested millions in ICOs

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September 04, 2017, 01:08:22 PM
 #16

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

Check the news buddy... Chinese ICO ban is causing panic selling all over the place. Bitcoin was in a correcting phase within itself for some reason, now this just made it worse.
Don't fall for the panic, the sale of Bitcoin is not justified by these news. Chinese banning scammy ICO's is actually good for BTC, because people will hold their BTC instead of gambling in the ICO market.

Hold on to your coins and buy the dip, we will be back up stronger than ever after this nonsense.

hmm i think its a big problem if chinese ban all about ICO and restrict all of about ICO, i think people in the world panic because of that, and make bitcoin rate is down... i hope in the next week bitcoin rate is higher than now.

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September 04, 2017, 01:17:01 PM
 #17

hi guys anyone here  who knows why all altcoins are down?

anyone expecting bitcoin to hit 4k again?

alt-coins price are drop down because bitcoin is soon to pump again. i think it is the signal that our bitcoin soon to hit $4k, so all alt-coins are affected for this phenomenon. exactly picture of whale moving underwater with some fish rapidly swim away from whale.

Well it is a chain effect that if bitcoin would certainly goes down the same goes with the other Altcoins but I don't really think that the price of bitcoin will plummet to the $4000 mark value but even if we are experiencing a dip it still will rise up and we can have a sure possibility that it will still goes up this September.
                                                                                        














 

 

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Metoo.14
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September 04, 2017, 01:18:06 PM
 #18

I think that's the end of the bubble, when it's so high there's no end to it, so it's back to normal in the crypto market.
hua_hui
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September 04, 2017, 01:19:11 PM
 #19

It is due to the chinese news that they are cramping down on all the ICO originated from China. They have ban the ICO and even suggest these ICO fund raiser to return back the money back to the investors. This triggers the sell off of a lot of alt coins especially like NEO which are related to china and was believed to be the next china ethereum. Even other alt coins like omg, qtum, and many alt coins were affected.

A few hours later, even the South Korea also have issued a similar post regarding the ICO in their country. So people are FUD and cashing out of the crypto currencies.


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alyssa85
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September 04, 2017, 01:30:36 PM
 #20

Besides the Chinese ICO ban news, I think 5k is a pretty big psychological barrier in terms of just the bitcoin price. Might take longer than a lot of people expect for bitcoin to break 5k.

Yes. People were looking for an excuse to sell because the price was getting toppy, and when the Chinese news came out, they sold.

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