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Author Topic: Bankers are killing the cryptocurrency market  (Read 647 times)
HEvangelista
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January 17, 2018, 07:07:05 PM
 #21

What would be the consequence if Wall Street poured so much money on Bitcoin? I wonder if so much downpour of money led to the crash or maybe that too many investors are overwhelming the market that the market cannot take in so much.


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JollySkipper
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January 17, 2018, 09:23:43 PM
 #22

there are whales, in the market that trigger many other people to sell when they sell, first the fud and then the stop lost commands, this is going to return to normal very soon

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January 17, 2018, 09:38:56 PM
 #23

it is not the banks I guess. something is happening in the market but I don't think its because of banks though we know they are one of those you will really got affected of having crypto currencies in the market but I don't think they can make such move to dump the value of cryptos this low maybe there is a market enhancement or correction that is happening now but sooner I know this will recover and we will be having a much appreciated coins in due time

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January 17, 2018, 09:41:36 PM
 #24

Though I share the suspicion towards bankers, I don't think they have anything to do with the recent drop. It is more an effect of the recent FUDs  plus the market in Europe with the EU dropping from a 3-year high. Or at least those are a factor. Only just seen this in the news earlier.

The most that bankers would probably do with bitcoin is to try to get a share of it.
of course, this has nothing to do with bankers. all this decline can be said reasonable because there is the impact of a drastic increase in late 2017. bankers are only those who want to take advantage of the fall in prices so that it can buy back when bitcoin down more deeply because of panic investors.
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January 17, 2018, 10:01:39 PM
 #25

Why do you say it is because of banks? Yes it is true that banks are making black propagandas against bitcoin but i dont think that is enough reason for cryptocurrency to fall right now. There must be some factors though, i am not good in cryptocurrency but i noticed that everytime bitcoin is fluctuating along with it other coins are also doing the same. But i am not sure with my opinion but i dont think it is because of banks.
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January 17, 2018, 10:28:44 PM
 #26

Why do you say it is because of banks? Yes it is true that banks are making black propagandas against bitcoin but i dont think that is enough reason for cryptocurrency to fall right now. There must be some factors though, i am not good in cryptocurrency but i noticed that everytime bitcoin is fluctuating along with it other coins are also doing the same. But i am not sure with my opinion but i dont think it is because of banks.

As it's hard to track Bitcoin users, we can't say with sure if the banks are behind this big recent drop. I think that is unlikely, the only way they could cause a big problem like that would be by holding a large amount of coins and selling it in mass to scare investors, only negative propaganda wouldn't be enough.

The prices are already recovering themselves, so it was probably just more one strategy from traders to dump prices, buy again and pump over again. The question is, who are the traders?

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January 17, 2018, 11:39:06 PM
 #27

it's not bank I think it's the government of different countries who decided to banned bitcoin exchanges that resulted to a huge drop in bitcoin demand that apparently affects the value of bitcoin. Another thing is that all other coins decreases in value which maybe a price correction but I am hoping this will recover soon and give a much higher price to all coins

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January 17, 2018, 11:50:10 PM
 #28

People make too much of a problem out of this market pull back. I too find that it's an extremely exaggerated market reaction, but it's still something that we shouldn't really be shocked about with no proper buy support.

I am sure that if there was more liquidity available, these panic sellers wouldn't be able to dump the price below the $10,000 mark. Let the market find out its bottom, and we'll be shooting up right after that.

If turns out that we have already reached the bottom, then the coming few days will be dedicated to people buying back. Fiat deposits posting in people's accounts will spark the buying process even more.
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January 18, 2018, 12:35:23 AM
 #29

If you are a banker you will agree that BITCOIN is not used because it threatens you as a banker, so people do not want to keep money in the bank, because they have their own wallet. They will not use the bank transfer service because they easily move their funds from their wallet to someone else's wallet. And you as a banker can not arbitrarily print money while BITCOIN the number is limited and no parties are arbitrarily printing. Obviously this is dangerous, more or less so assumed.
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January 18, 2018, 01:05:12 AM
 #30

That sounds like a straight conspiracy. I thought the reason was due to negative news out of South Korea.
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January 18, 2018, 03:40:03 AM
 #31

Because the bank's business has been taken away by bitcoin, the bankers have used their money to unite the country through policy to influence bitcoin! In the absence of conflicts of interest, Banks and bitcoins work together, but in the event of conflict, Banks must limit bitcoin.

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January 18, 2018, 04:05:07 AM
 #32

If not bankers, who would do such a thing?
What is happening right now is far beyond the whales.

PLEASE, TAKE A LOOK AT THE MARKET TODAY!

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Bankers are just doing this to blackmail bitcoin and altcoins to force governments around the world ban cryptocurrencies.

The bankers must be saying "everyone blaming us again for their losses?" lol. Theres no one to blame except ourselves if we lost some money by trading the markets. No one forced us to do it, we did it because we love to gamble and dont have any idea what we are really doing. We just put money in because we think it will pump. Well it can also dump, just like the way it did.
jseverson
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January 18, 2018, 08:16:21 AM
 #33

Nah. It's not like the banking sector is a monolithic entity that plans on crushing Bitcoin. It does threaten the current status quo, but banks simply have to adjust like they always have. Take Goldman Sachs for example, which has been very open to adopting cryptocurrencies to avoid getting left behind by the times. I'm sure majority of them aren't big fans, but I don't think they're taking concrete steps to kill the crypto market, and there hasn't been any solid evidence to make me think otherwise.

Either way, this is most likely normal market correction. Where we currently stand is where we stood at around the first week of December, so you could look at it as having erased the explosive growth that the media frenzy brought. I'm sure theories like this which promote a world vs. Bitcoin war perspective doesn't help though.

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January 18, 2018, 08:26:31 AM
 #34

The market goes down because it was too hot before.
All those actually worthless new coins where many people put money in are now losing their artificially blown up value.
Bankers have nothing to do with that.
You can see that very good at the market capitalization.
Although bitcoin was increasing in price its percentage of market capitalization was declining.

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January 18, 2018, 09:35:52 AM
 #35

I just understand that investors choose to transact with other coins (like ethereum which helped to double its price. Also, litecoin at some time got doubled , dash and waves. ) because of the hatred developed for bitcoin and this led to the drop of bitcoin. Naturally, when you don't have demand for a product, it price drops - this is a simple economic principle and theory.

Recently and late last year, if anyone has tried to do a transaction via bitcoin, you would see that the transaction fees were really alarming to the high side. This is a major reason that investors looked the other way and bitcoin had to lose a bit of popularity in transaction including marketcap.

Thus, I don't think a bank, bankers or whales are responsible for this deep. It is a retracement that is leading to a correction which would eventually push the market to another volatile. This has been the tradition in crypto market.

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January 18, 2018, 10:15:01 AM
 #36

Nonsense. It's totally normal for bitcoin to drop like this. It has happened many, many times. Until we get down to $5000, it's barely even a crash.

i agree. this is normal. price goes up and then goes down. there will be a point when the trend changes. a rise will be followed by a fall, and then followed by another rise like a ball bouncing. the spikes are influenced by development, innovation, general good news. the downtrends are a reflection of market's reaction to the fud, regulation policies, and the like.

nobody is killing the market. the market will continue to thrive. the crypto economy is thriving and there's no stopping it.
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January 18, 2018, 12:31:30 PM
 #37

Why you the OP blaming the price crash of bitcoin to the bankers? Yes they are against bitcoin and other crypto because they can't control the blockchain to control the user's funds but doesn't mean that they are cause of bitcoin crash happened yesterday, and the time of this posting bitcoin is bouncing back so, if you buy bitcoins yesterday, you are very lucky.
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January 18, 2018, 01:50:11 PM
 #38

There's a chance that bankers would kill cryptocurrency market but they cannot d that in reality, they are trying but cannot succeed. Current situation is different and this is due to some corrections happening in block chain, usually this happens frequently after a price rice to moon or before a bullish price rise. For sure in another two or three months Bitcoin would start the bullish drive.
cybersofts
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January 18, 2018, 11:05:26 PM
 #39

So, what do you make of this?





If a banker can say that, what do you expect?
Bankers are investing heavily in cryptocurrencies, period!
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January 18, 2018, 11:22:00 PM
Last edit: January 18, 2018, 11:40:04 PM by Hydrogen
 #40

It is possible china and south korea are passing anti crypto legislation intended to prevent capital investment from flowing outside their borders. Their end goal is to keep money inside their country, rather than have it leave to be invested in the united states or other countries economies. That is one of the competiting theories for sudden anti crypto legislation in asia.

On the opposite spectrum, banks and the financial sector are some of the largest political campaign contributors and special interest lobbyist groups. And so to a degree, the recent spat of anti crypto legislation we've seen proposed in the united states and elsewhere might be traced to bankers as they're one of the few demographics who wield that type of political influence on a global scale.

In countries like africa, central banks have explicitly shown their dislike of bitcoin and crypto. The response in western nations might not be as obvious but it is possible africa speaks for all banks.

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