What caused the sudden slump of BTC today?

[brushtooth]

I'm not certain that it is entirely down to the south korean bankruptcy filing. Although if it is it is a sign that bitcoin really doesn't have a great deal of momentum right now, the past months news like that will have simply been taken in the stride of bitcoin but now it's caused a 10% fall.

[1Referee]

It could have various reasons, but seeing the market take a step or two back might be what the market needs right now. I am mainly interested to see how far the market will fall back with the current demand. If the recent demand remains strong, it shouldn't tank below $15,000, but if it does, then it basically shows that even this bullish sentiment isn't going to last endlessly. I am sure that a lot people will be very happy with this decline as it will grant them a cheaper entry point. It motivates people to start transferring money to their exchanges, and that fresh capital will do the market good for sure. If the price is going up consistently, it might demotivate certain people, and this is exactly the push they need to pull the trigger and start buying Bitcoin.

[TERA2]

This isn't behaving like a megacrash. It's too slow.  It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

[richardsNY]

It's just normal market activity at current levels and the thin orderbooks. People for some reason still haven't got used to this level of volatility, which is pretty weird considering how common it has become recently. If the market has no problems increasing with like $2k in a single day, it in a similar fashion won't have any problems decreasing with the same figures. It's something you could have figured out by yourself. It's obvious that the market won't likely eat through a critical barrier as $20k this early on, which people who understand this can use in their advantage to sell and buy back. In a single day I managed to yield 6% without much effort on this decline.

[rodalutor]

This isn't behaving like a megacrash. It's too slow.  It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

Down to 10k would be a pretty mega crash, there's little sign of that right now. It was simply a 10-15% drop, nothing more. If we were to reach 10k that would be an extreme crash and I don't think it would look anything like this.

[topper26]

Well we are in the 16000 now and bitcoin cash is in the 3k so here is one reason for the decrease. BCH just started upon on coinbse within last half hour.

[AICoin_Official]

Well, nothing can't just always go up, right? even btc needs a breather from time to time. also, it's was a minuscule dip, %-wise.

Well, BTC price has dropped by 11% now, that breath is a little bit deep.

[AICoin_Official]

Well we are in the 16000 now and bitcoin cash is in the 3k so here is one reason for the decrease. BCH just started upon on coinbse within last half hour.

Thank you for your information, though, not everyone is excited about this.

[AICoin_Official]

This isn't behaving like a megacrash. It's too slow.  It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

Down to 10k would be a pretty mega crash, there's little sign of that right now. It was simply a 10-15% drop, nothing more. If we were to reach 10k that would be an extreme crash and I don't think it would look anything like this.

Yes, now price seems to be at the edge of reversal.

[AICoin_Official]

It's just normal market activity at current levels and the thin orderbooks. People for some reason still haven't got used to this level of volatility, which is pretty weird considering how common it has become recently. If the market has no problems increasing with like $2k in a single day, it in a similar fashion won't have any problems decreasing with the same figures. It's something you could have figured out by yourself. It's obvious that the market won't likely eat through a critical barrier as $20k this early on, which people who understand this can use in their advantage to sell and buy back. In a single day I managed to yield 6% without much effort on this decline.

For new comer, they are easily to get panic out of insufficinent knowledge about the nature of BTC, just wait and see, the king will be back.

[AICoin_Official]

This isn't behaving like a megacrash. It's too slow.  It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

To 10K? That's a really major correction as it sounds like. Hope people all have the same positive sentiment as you.

[AICoin_Official]

It could have various reasons, but seeing the market take a step or two back might be what the market needs right now. I am mainly interested to see how far the market will fall back with the current demand. If the recent demand remains strong, it shouldn't tank below $15,000, but if it does, then it basically shows that even this bullish sentiment isn't going to last endlessly. I am sure that a lot people will be very happy with this decline as it will grant them a cheaper entry point. It motivates people to start transferring money to their exchanges, and that fresh capital will do the market good for sure. If the price is going up consistently, it might demotivate certain people, and this is exactly the push they need to pull the trigger and start buying Bitcoin.

Impressive and brave analysis, it does lower the entry point by almost 25% if you're right and price falls back to 15K. We'll see later.

[Drnice]

This is kind of difficult to say, in the last few weeks, the price of bitcoin was heavily rising, and now, it just drops again. Factors like whales dropping some of their coins, and a less/no new investors to bitcoin for now, and the price of altcoins are rising.


I woke up this morning to check my coinbase, and I saw that they have added BCH to their coins.

[MintCondition]

It's just normal market activity at current levels and the thin orderbooks. People for some reason still haven't got used to this level of volatility, which is pretty weird considering how common it has become recently. If the market has no problems increasing with like $2k in a single day, it in a similar fashion won't have any problems decreasing with the same figures. It's something you could have figured out by yourself. It's obvious that the market won't likely eat through a critical barrier as $20k this early on, which people who understand this can use in their advantage to sell and buy back. In a single day I managed to yield 6% without much effort on this decline.

For new comer, they are easily to get panic out of insufficinent knowledge about the nature of BTC, just wait and see, the king will be back.

As always, btc will be back, it's just a buy time now, buy more and hold till it reach 20k again, it will definitely set new goal after this dump, maybe some just do trading a bit at this time.

[1369]

This is kind of difficult to say, in the last few weeks, the price of bitcoin was heavily rising, and now, it just drops again. Factors like whales dropping some of their coins, and a less/no new investors to bitcoin for now, and the price of altcoins are rising.


I woke up this morning to check my coinbase, and I saw that they have added BCH to their coins.

Whales orchestrating their power for sure, and Coinbase officially supporting bcash certainly had an effect.

[AICoin_Official]

This is kind of difficult to say, in the last few weeks, the price of bitcoin was heavily rising, and now, it just drops again. Factors like whales dropping some of their coins, and a less/no new investors to bitcoin for now, and the price of altcoins are rising.


I woke up this morning to check my coinbase, and I saw that they have added BCH to their coins.

BCH definitely has influence on BTC.

[ElegantCy]

I think it is the interview of the assistant Btc.com chairperson that Btc price is unsustainable because of it's long confirmation time and the unwillingness of those handling the btc network to allow segwit on the network, and the fact that they see it as a store of value rather than a currency, hence hinting that Bch is the next big thing. The fact that he even cashed out all his Btc to Bch is another factor enough for fud.
In all of these, Bitcoin has always been the king of the forest, that rises up strong after going through tough times. Expect Btc to surge higher again.

[beerlover]

Probably the bankruptcy of the south korean exchange.

Also, North Korea is suspect of having unleashed the wannacry virus. They can also be suspect of having hacked this exchange.

And theres the opening of CME. Some bankster might have dumped his coins to drop the price and create a snowball effect in futures. Not gonna work.

It seems there is just some pretty huge attack on bitcoin and some merchants are really trying their best to see that the bitcoin core does not end up having much of a say while pushing bitcoin cash up.

I am really trying to see where this is headed anyway and now that coinbase has made btc transaction extremely expensive which it is not really their fault as the devs have been so slow, then now listing bitcoin cash, while some punks decided to dump their bitcoin for bitcoin cash, really speaks some volume.

After running a huge marathon race, you will definitely need some time to relax, take in a fresh air, drink some water possibly before starting again. That is exactly what bitcoin is experiencing right now. The truth is that we have all been waiting for huge correction to really show how healthy the market is but we have not been getting that, I guess now is the time that we have all waited for.

[maxj57634]

This isn't behaving like a megacrash. It's too slow.  It might be just another wave back to the previous support levels around 10,000 before a re-attempt at ath

To 10K? That's a really major correction as it sounds like. Hope people all have the same positive sentiment as you.

It is unlikely a mega crash that is happening in the market right now, but people can be positive all the time when it comes to money, when they see the price go down panic is on their mind, 15k would be the closest price.

[arpon11]

Just hours ago, BTC started a sudden downtrend, followed by almost all major coins, what's wrong? The regulation from Europe or the bankruptcy of the south Korean exchange? Feel free to share your analysis here.

Another analysis from Kuang Ren today, and he talks about the reason behind the surge of BCH price, you can find most pairs from global major exchanges here: https://www.aicoin.net.cn/chart/5C79AC2D

Analysis:

Finally, BCH is on its way to setting a new all-time high after having been waiting and hiding for so long, such uptrend is beyond the control of main funds who must dump their chips to pull the price down, which is the worst idea.

Therefore, the only option for them is to push price up. For investors, you can keep your chips.

Full version is here:

https://twitter.com/AICoincom/status/943097519617097728

At this stage bitcoin need to have a good positive outlook in other to help and keep bitcoin in a maintream media and there is a need for more price pumping in other to actract more investors. The current price corrections is as a result of FUD created by some that high transactions fees in other to put bitcoin cash as a replacement for bitcoin and to proof that bitcoin has a lot of issues.