Bitconnect sold 50000 BTC

[Darooghe]

I heard Bitconnect's owners collected BTC50000 from people and scammed them. the owners sold BTC50000 from 2 days ago till now. This is a big reason for crashing price. don't panic and put some buy orders at different lower price. If BTC fall down to $1500 don't panic and do buying more at different steps.

[notaek]

I heard Bitconnect's owners collected BTC50000 from people and scammed them. the owners sold BTC50000 from 2 days ago till now. This is a big reason for crashing price. don't panic and put some buy orders at different lower price. If BTC fall down to $1500 don't panic and do buying more at different steps.

The founders cashing out lump sum through public exchanges is quite possible but hard to prove this drastic market crash.
My intuition says otherwise though. There could be 2 main possible scenarios that are fueling the downtrend:

• BTC Future contracts were set to expire today after its month-long journey, which is creating a false pretense of downtrend in order to short money and profit out from it. (Remember the price of BTC was around $10k - $12k when the future contracts started)

• Onset of Lunar New Year, which could be just another baseless FUD though.

[MCVXYZ]

Yes this is a one bad reason as for btc price as for investors,they have lost up to 95% of their investment and today there is a very bad situation in confidence issue because people may don't trust companies like this anymore.But I think its not finish and relevant bodies  will be interested in this case.Also there are a lot of reasons and everybody talks about this,despite the fact,Its Little doubtful that price goes down every year In january and I think  panic is  artifically created from investors who want to buy it for low price.

[teejaymuna]

I'm also very sure the bitconnect scam has had a role to play in BTC price fall. All we have to d now is measure up with the supply by increasin or buying BTC. That way the price will begin to rise gain. My thoughts though.

[cho99]

I heard Bitconnect's owners collected BTC50000 from people and scammed them. the owners sold BTC50000 from 2 days ago till now. This is a big reason for crashing price. don't panic and put some buy orders at different lower price. If BTC fall down to $1500 don't panic and do buying more at different steps.

The founders cashing out lump sum through public exchanges is quite possible but hard to prove this drastic market crash. My intuition says otherwise though. There could be 2 main possible scenarios that are fueling the downtrend:

• BTC Future contracts were set to expire today after its month-long journey, which is creating a false pretense of downtrend in order to short money and profit out from it. (Remember the price of BTC was around $10k - $12k when the future contracts started)

• Onset of Lunar New Year, which could be just another baseless FUD though.

for those who are surprised about this market crash let me tell you that all this is very normal ,after a big pump comes a dump and sometimes a big one . For those who are familiar with stock market this is not a surprise because this is what big investors do when they want to manipulate the market to get their profit . I already explained how this happens in other thread . What I can tell is just don't panic hold your coins and keep buying if you want too

[Crypington]

Yup ... that’s how a Ponzi scheme works.

[Rubberduck59]

Is 50.000 bitcoins really enough to influence that market that much?
I have a buddy who recently invested 10.000 USD into BitConnect. Ouch, I bet he's been crying in regret 

[ViktorTroshka]

So Bitcomnet is a pure financial pyramid. The outcome was clear in advance. I do not understand why people in 2017 give money to such projects, when you can invest almost riskless in popular reliable coins and not think that someone will one day take and run away with your money.

[bigvito19]

good grief, well they cashing out

[Lock00Live]

It's time to end a mighty empire Bitconnect in the MLM coin market. I think this is also a bad omen for similar projects because coin lending and MLM projects have developed well in the past due to the fact that BitConnect has taken the lead to push them up. When BitCon was on the Coinmarketcap, I thought about the prospect of it going but did not expect it to go so soon. I feel very sorry.

[coindetective]

It was so obvious Bitconnect would crash, such an obvious scam.

I really do not understand how people were so naive to give them a single penny.

[prehisto]

Is 50.000 bitcoins really enough to influence that market that much?
I have a buddy who recently invested 10.000 USD into BitConnect. Ouch, I bet he's been crying in regret 

I believe that yes, it is enough to  influence the market , the value of 50000 BTC is from 500-700 million USD, depending on BTC price (10-15k). Also I was not aware of this huge scam and sell off in these days, it means that this factor did add to huge correction.

[cryptojoe]

that explains a thing or two...

[JamesR1]

I heard Bitconnect's owners collected BTC50000 from people and scammed them. the owners sold BTC50000 from 2 days ago till now. This is a big reason for crashing price. don't panic and put some buy orders at different lower price. If BTC fall down to $1500 don't panic and do buying more at different steps.

There is big different between the two project (BTC.BCC) no way to compare both market .

[alyssa85]

I heard Bitconnect's owners collected BTC50000 from people and scammed them. the owners sold BTC50000 from 2 days ago till now. This is a big reason for crashing price. don't panic and put some buy orders at different lower price. If BTC fall down to $1500 don't panic and do buying more at different steps.

If they have sold people's money and kept it for themselves, they're looking at jail...

[richardsNY]

Is 50.000 bitcoins really enough to influence that market that much?

It may be to a certain extent. Let's assume that it has indeed been BCC selling these coins from $14,000 all the way till just over $9000 reached today. If we look at how thin the markets are, then it wouldn't cost any effort to get the price to tank like it has been doing since yesterday. Especially when we take into consideration that a lot people due to the mainstream media think it has to do with governments cracking down on crypto exchanges. BCC may have initiated the dump for a good amount, and the rest of the market has done their part of the work. The price seems to be recovering right now, so we have to wait and see how the coming days will be. If the dumping is over, which may be the case, then we have just started to go up again.

[m9shn9sh]

It's horrible. I was deceived by these crooks. Although I lost very little, but this residue remained. Now they are trying to attract people to a new platform. I hope they will not work out

[racebum]

Is 50.000 bitcoins really enough to influence that market that much?
I have a buddy who recently invested 10.000 USD into BitConnect. Ouch, I bet he's been crying in regret 

if buyers aren't ready to meet the price then yes. if you ever watch futures trade in a thin market each trade drives the price. when i was watching the price fall the other day there were not many buy orders firing off so the price moved quickly.

this morning when we were at a tech support level and the selling seemed exhausted buyers stepped in and drove the price now +800usd in a few hours

50,000 coins is a lot of money and you also had nervous people in korea who were probably not wanting to throw more dollars at it just yet also limiting the buy side

i think the long term trend is bullish but it's going to be a wild ride on the way up.

if i could ask any fundemental question in the world and actually receive an answer which i know i can't it would be this. what happens at 21 million coins


what i honestly don't get is why someone would unload 50k coins into negative news. if you have a large position it would seem logical to sell into strength and trickle out

[Suharti12]

The panic will not benefit us if the bitcoin price goes down the better we buy it again to increase the investment, because it is also one of the advantages of the bitcoin price reduction, stay patient and do not do panic selling.

[trumper]

This is not true, no one can sell this scammed btx in exchanges, the reason is south korea news but they confirmed that they will not ban, RISE