Koinci (OP)
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No Bitcoin, no problem.
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November 09, 2017, 06:36:55 PM
Last edit: January 12, 2018, 08:10:05 AM by Koinci |
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Hi,
Any ideas what might be causing this behavior? A huge buy/sell order? Some manual manipulation on the exchange side?
Thanks.
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Wipro
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November 09, 2017, 06:50:06 PM |
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Hi,
I am relatively new to Bitcoin trading and there is something I would like to ask the opinion of experienced traders about.
I keep watching a few exchanges during the day and sometimes I notice a sudden upward or downward price spike. For example, let's say the BTC price is fluctuating mildly around 7340 in the range of 7330 - 7350, and all of a sudden, the price instantly jumps up to 7480, and then drops back to 7340 range pretty quickly. Same with downward spikes, for example the price instantly jumps down to 7210 and then goes back up quickly. This does not happen frequently but it grabbed my attention.
Any ideas what might be causing this behavior? A huge buy/sell order? Some manual manipulation on the exchange side?
Thanks.
Supply and demand is the main reason for the price bump and dump you see in the chart. If some failure in the uopdation will make you find the bitcoin price dropped. If there is any adoption over blockchain technology in the sense you will find the better growth in the chart with in 2 days after that. |
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Cryptopher
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Keep it dense, yeah?
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November 09, 2017, 07:39:39 PM |
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Usually some news that is posted on Reddit, in some cases the change comes just before the news becomes available.
Least that is when the biggest swings come in.
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HiringYou
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November 09, 2017, 08:18:34 PM |
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Bitcoin is a type of cryptocurrency that is totally depended upon it's demand.When demand for Bitcoin increases which means when more people start investing in Bitcoin then a rise is seen in it's price. As we are noticing from last 2 weeks that demand has increased and price is reaching new altitudes.But when people start selling their BTC's, a drop is seen in the price.People often sell their BTC's because they get panic when there is some drop in the price.For example we have seen a huge drop when China banned ICO's and exchanges and after J.P Morgan's statement.People got panic and they sold their BTC's which dropped the price more.
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Extr22
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November 09, 2017, 08:27:41 PM |
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bitcoin price depend on law of demand and supply so that only track news that may make people buy more bitcoin (price will increase)
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DrGuns4Hands
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November 09, 2017, 08:55:45 PM |
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Probably the reason for upward or downward price of bitcoin is because of demand of the people. The higher the demand the greater the price it has. Because a lot of people tend to buy so the price will increase.
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cryptoDARO
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November 09, 2017, 09:24:58 PM |
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Whales (people with a LOT of coins) manipulating markets. Although that happens mainly with low cap altcoins.
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949miner
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Stake & Vote or Become a IoTeX Delegate!
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November 09, 2017, 11:33:12 PM |
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It only depends on just one thing, the movements of those people who are holding huge amounts of bitcoin at the time of the spike.
It someone decides to dump 10000 bitcoins, then the price will go down as crazy, because the marketcapitalization will go down by a lot of money.
But if the opposite happens, i mean, if someone buys 10000 bitcoins, then the price will go up like crazy, and this is why it can be just going up for more than $200, or maybe a little bit less.
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layoutph
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November 09, 2017, 11:43:27 PM |
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The dump is caused by the news that segwit is cancelled. The pump is caused by motivation, good news about crypto and profit that motivates an investor. Hi,
I am relatively new to Bitcoin trading and there is something I would like to ask the opinion of experienced traders about.
I keep watching a few exchanges during the day and sometimes I notice a sudden upward or downward price spike. For example, let's say the BTC price is fluctuating mildly around 7340 in the range of 7330 - 7350, and all of a sudden, the price instantly jumps up to 7480, and then drops back to 7340 range pretty quickly. Same with downward spikes, for example the price instantly jumps down to 7210 and then goes back up quickly. This does not happen frequently but it grabbed my attention.
Any ideas what might be causing this behavior? A huge buy/sell order? Some manual manipulation on the exchange side?
Thanks.
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JaredStein
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November 10, 2017, 01:57:35 AM |
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Money and volume coming into the Bitcoin market. The downward spikes aren't going to be nearly as bad as the upward ones. From now on the downward spikes are just going to be corrections from the huge upward spikes that are going to be the trend moving forward because the amount of bitcoins are becoming more scarce and the demand is becoming increasingly larger.
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ClvrGmr
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November 10, 2017, 03:34:43 AM
Last edit: November 22, 2017, 10:40:53 PM by ClvrGmr |
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This is just basic economics. Many people hold bitcoins and wait for the price to rise, basically the more people hold the price is more likely to go up because the bitcoin in the market decreases and when the holders of bitcoin start to panic sell the market cap will start to rise affecting the price to fall down.
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Drnice
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November 10, 2017, 03:43:48 AM |
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At most times, it is caused by some wrong or false news going on, so as to buy some coins when there comes a drop in the price. This also happens when there is an upcoming fork which hits the price to rise very high and falls back.
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Wesimon
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https://gexcrypto.io
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November 10, 2017, 03:45:26 AM |
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Hi,
I am relatively new to Bitcoin trading and there is something I would like to ask the opinion of experienced traders about.
I keep watching a few exchanges during the day and sometimes I notice a sudden upward or downward price spike. For example, let's say the BTC price is fluctuating mildly around 7340 in the range of 7330 - 7350, and all of a sudden, the price instantly jumps up to 7480, and then drops back to 7340 range pretty quickly. Same with downward spikes, for example the price instantly jumps down to 7210 and then goes back up quickly. This does not happen frequently but it grabbed my attention.
Any ideas what might be causing this behavior? A huge buy/sell order? Some manual manipulation on the exchange side?
Thanks.
Sudden changes in price is mainly cause by whales and big investors. They have big impact on the demand of coin. There is actually no one who haa full control over the proce of bitcoin even powerful government. Its mainly dependent on the people who supported it. Its basically what the law of demand and supply, and this also applies to crypto. That is why publicity and mrketing ia important to catch more big investors. |
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DaMut
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November 10, 2017, 03:53:48 AM |
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there are a lot of factors that can determine Bitcoin price,
for example our current pump,in my opinion the reason why we got this pump due to 3 reasons.
1.People missed their opportunity for the first chain split and missed the chance to get BCH for free while the price for that altcoin is ridiculously high,
so when the next split happened a lot of people bought a lot of Bitcoin.
2.There will be a Hardfork in november(but right now suspended),they knew that Bitcoin price will be drowned after the fork,
that is why they tried to maximize this chance to get a lot of profit before the fork.
3.CME listing Bitcoin futures.
other than that,we could see Bitcoin breaking the pattern without a reason.
that mean it's manipulated by people,
so it's not surprissing to see Bitcoin flying to the sky tomorrow or sinking to the ground tomorrow.
everything can be happen with it in a second.
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berkk
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November 10, 2017, 03:55:04 AM |
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can whales of low volume coins sell at a high then buy the low's that they themselves just created?
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jseverson
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November 10, 2017, 03:56:52 AM |
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They are typically caused by sudden developments that may be directly or indirectly connected to Bitcoin or cryptocurrencies as a whole. Should something happen that threatens the future of Bitcoin, you can expect a sudden drop, like with China's exchange ban. Upward spikes are a little harder to predict because positive press is few and far between, but there are typically large spikes preceding a high profile fork, followed by a drop.
As for the examples you mentioned, those are just typical Bitcoin fluctuations. They seem large because of the number, but if you take a look at them on percentages you will find that they're not out of the ordinary.
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Koinci (OP)
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No Bitcoin, no problem.
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November 10, 2017, 04:34:45 AM
Last edit: January 12, 2018, 08:10:42 AM by Koinci |
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Thank you all for your comments, I had underlined the term instantly because I am not asking about a quick but gradual increase or decrease in prices as I am perfectly aware it is about supply and demand and it may be affected by news and developments.
949miner's reply seems to make sense for this kind of instant price jumps.
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FDC1412
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November 10, 2017, 04:50:28 AM |
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The price fluctuations are caused by the behavior of the market participant on how much they are buying and selling their btc. If many buy BTC, then the demand is high and also is the price but when many are selling their BTC, the demand is low and also is the price. So obviously, the law of price and demand applies same as in the real market.
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piloder
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November 10, 2017, 04:58:58 AM |
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Different news can have this effect on market because many traders will react without going deep into the story/news that will cause sudden drop or pump. For example when segwit2x was offically cancelled price dropped from $7800 to around $7200 within 10 minutes.
Also it depends on the exchange too, if they don't have much users than price spread can be like $100 so if there will be any buy/sell price can fluctuate by more than $100 within few trades.
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