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Author Topic: Why the drop?  (Read 580 times)
MiningSensei
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November 16, 2017, 03:10:08 AM
 #21

It has been rising a lot yesterday, from less than $6600 to more than $7400 in a few hours before the day was ended, now it is closing up at $7,2k each bitcoin but it is still a nice price.
We can now say that the whole dump is over now, because we are not saying those shitty dumps anymore, and of course, the whole period of seeing those dumbs of bitcoin cash is now over, because bcash could not stop dropping.. It is now below $1150 each one of them, this is critical for them of course, but we all knew that they were an useless coin only that it was sooo hyped.


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steveabrahams
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November 16, 2017, 04:25:31 AM
 #22

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

1. Segwit2x cancelled/suspended, that makes the price of bitcoin falling so hard.
2. Miners start support bitcoin cash and bitcoin cash price increase so hard too.
3. So many unconfirmed transaction on blockchain.
4. Some "whales" dump and pump their bitcoin and bitcoin cash.

But all thing is good right now, the price of bitcoin going up again right now.

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November 16, 2017, 11:51:25 AM
 #23

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

that is because bitcoin is a bubble and it pops immediately resulting for the price to drop unexpectedly after having a full pump at its peak though its only temporary because bitcoin always recover and will start to increase again. and also price drop is actually normal it also happened to some other coins not just on bitcoins,
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November 17, 2017, 07:30:47 PM
 #24

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.
Unless you are a well connected whale it is going to be impossible when things like this are going to happen, it is my belief that all of this was in fact something that those that were connected knew well in advance it was going to happen, it is not surprise that all of those things happened after the fork got canceled, this was just a way to get rid of their useless bitcoin cash and getting profits at the same time.

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November 17, 2017, 08:45:49 PM
 #25

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

The price of bitcoin always drops from a higher price because it wants to correct it's spark, and when that starts happening, the price becomes settled and gradually increase. So, there should be no panic.

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November 17, 2017, 09:11:51 PM
 #26

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.
Unless you are a well connected whale it is going to be impossible when things like this are going to happen, it is my belief that all of this was in fact something that those that were connected knew well in advance it was going to happen, it is not surprise that all of those things happened after the fork got canceled, this was just a way to get rid of their useless bitcoin cash and getting profits at the same time.
I think today the reason is not hard fork cancellation we seen the price increases yesterday and the price was drop today and i think the reason why bitcoin price was drop there are people are satisified what is the present price and sold their bitcoin this is why the price was drop. Since there is no fork coming(segwit2x> they are selling their bitcoin in early stage before the price drop..

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November 17, 2017, 09:39:02 PM
 #27

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Would have been nice if it's possible to determine when this will happen although that's probably impossible for small players. I remember selling off a few months ago when the price suddenly spiked, expecting a crash. Didn't happen.
Unless you are a well connected whale it is going to be impossible when things like this are going to happen, it is my belief that all of this was in fact something that those that were connected knew well in advance it was going to happen, it is not surprise that all of those things happened after the fork got canceled, this was just a way to get rid of their useless bitcoin cash and getting profits at the same time.
I think today the reason is not hard fork cancellation we seen the price increases yesterday and the price was drop today and i think the reason why bitcoin price was drop there are people are satisified what is the present price and sold their bitcoin this is why the price was drop. Since there is no fork coming(segwit2x> they are selling their bitcoin in early stage before the price drop..

Bitcoin is also a goods and the price is change like a assets.For asset the more selling is happening so, the price will start to reduce. Like wise ,if the price reduced means many will start to Buy and the price will again start to raise due to the demand of product .
Same thing happened in bitcoin ,If the reaches 7900$ many start to sell the holding and by that only the price again start to reduce and now it's 7600$.


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November 19, 2017, 01:23:47 PM
 #28

I'm not sure I understand, that after getting so high. Why there was a gradual fall in the BTC value?

If you are active with the market news then you must know the reason . Bitcoin has been going really high since some days .
To upgrade and stabilize it came the s2x fork which got cancelled afterwards . After the cancellation , many miners and investors showed their interest in bitcoin cash and dumped their bitcoin . That is why bitcoin cash increased overnight and bitcoin's value falled to some extent . But bitcoin is back on the track now.     

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November 19, 2017, 02:35:32 PM
 #29

Probably very similar to what happened a few years ago.  Bitcoin went way up and super fast, and then it slowly corrected itself.  This is what we are seeing now and it will correct itself to probably around 3-4,000 per coin.  What happens next who knows.

Well some do know particularly those who are manipulating bitcoin prices but I digress. I doubt it will reach 3-4k a coin because that seems a bit low but I would not be surprised if bitcoin reached close to ~5k again.

Just looking at Math here.  It went from 50 a coin to 1200 a coin back in 2011 or so?  Roughy a 2300% increase right?  Then it went back down to 200 a coin.  Or from the original price it increased roughly 300%

Now it went from 700 a coin to 7,000. Roughly a 900% increase.  If it falls back to 3,000 a coin, roughly it will be a 320% increase..
What happens to the people bought when price was $7800 if price drops to $3000 a coin? Roughly they're screwed Cheesy I think I have it figured out about how this works, They are selling their bitcoins with the highest possible prices and then they would launch hundreds of ICO's to collect them back from noobs. Many are selling high and then they would spread false information to cause panic, Noobs will panic and dump due to uncertainty, Rinse and repeat and if you have billions of dollars you will get rich and richer every day, All of this despite having a limited supply.
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November 19, 2017, 03:46:44 PM
 #30

IMO there are some group whale trader may take advantage to bluffing especially when bitcoin reach fork for example.
Or for reasonable reason , maybe like China decide to ban bitcoin also affect bitcoin globally but as long as you believe bitcoin, no need to do panic sell, Just hold it !

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November 19, 2017, 03:53:30 PM
 #31

IMO there are some group whale trader may take advantage to bluffing especially when bitcoin reach fork for example.
Or for reasonable reason , maybe like China decide to ban bitcoin also affect bitcoin globally but as long as you believe bitcoin, no need to do panic sell, Just hold it !

Since this thread is open in the last week to know about the dump happend because of the hard fork and segwit2x. I see many people are saying that bitcoin dumping is the reason. If the regular people hold the bitcoin we will find the demand in the market about bitcoin. Henceforth, its value will increase enormously to sky rocket.
I do not know why mentioned Chinese BTC and ICO ban and all because that is happend more than a 50 days ago. You simply saying a dead news.

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November 19, 2017, 06:34:59 PM
 #32

IMO there are some group whale trader may take advantage to bluffing especially when bitcoin reach fork for example.
Or for reasonable reason , maybe like China decide to ban bitcoin also affect bitcoin globally but as long as you believe bitcoin, no need to do panic sell, Just hold it !

Since this thread is open in the last week to know about the dump happend because of the hard fork and segwit2x. I see many people are saying that bitcoin dumping is the reason. If the regular people hold the bitcoin we will find the demand in the market about bitcoin. Henceforth, its value will increase enormously to sky rocket.
I do not know why mentioned Chinese BTC and ICO ban and all because that is happened more than a 50 days ago. You simply saying a dead news.
Yes,the segwit 2x cancellation and the sudden pump of BCH price followed by miners switching to BCH were the main reasons for price drop of bitcoin.It was really a masterplan carried by BCH group and miners at the same time which led to thousands of transactions stuck due to switching of miners to BCH.BCH was pumped so high that even the firm believers of bitcoin were shocked due to BCH increasing price.At last every thing got settled and BTC regained its value.

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