Bitcoin volatility and dumps when Asia s awake

[crazyivan]

Does anyone know what causes this BTC price volatility? For the last week or so, we seen close to $1000 price dumps whenever China and Asia s awake.
Then when Western hemisphere takes over, the price goes back up.

Why? Theories?

[alyssa85]

Perhaps on the American exchanges it is pre futures activity?

The most recent batch of futures closed on Friday February 23rd and will be cash settled on Feb 28th. If it is the futures that caused the American spot market action, it should calm down next week.

[cryptorTUX]

Or it could be that Western countries have more money to throw at "investing" or gambling into crypto market however you want to call it. It doesn't matter if price dumps and pumps, if you have personally notice this well congratulations you have a formula about how to flip btc against fiat and get more btc in return. I might try to trade like this for few days.

[Bodiul1975]

When we look at 1000 DARSHDASHS, when Asia is awakened and this Western country gets its price back and this is a change in the spirit of BTC.

[BitHodler]

It's just the regular dose of volatility, and is not related to the future markets. It's not all that long ago when we experienced the same +$1000 swings in a time where there wasn't much going on in the market.

Also, the price went up for no reason in the last days, and it comes down to sub $10,000 without a reason. It's probably whales trying to dictate a new $1000 range to book easy profits in a market lacking bullish'ness.

I don't understand why people always think the market needs a specific reason to move up or down. It's obvious that calm and thin markets are the perfect conditions for whales to dictate the market without much effort.

[crazyivan]

Regular does of volatility? Every single day for the last week the price goes up in the EU morning around $1000 then down in the EU time evening around $1000.

That s not a regular does of volatility, that s a market being played by the big players. 

What I am surprised is how these which are being gamed do not understand the pattern and reverse it. Buy in the evening and sell in the morning, dump their game on them.

[NeuroticFish]

I think that one of the reasons is the Chinese mining farms cashing out their earning over their holidays, but I may be wrong, since I don't know how much % of the market is that.
Another idea could be some of the investors buying at 6-7000$ decided to no be greedy at sell some.

I am a little surprised myself, since I also didn't expect this "fight" around the 10k levels.

[squatz1]

Regular does of volatility? Every single day for the last week the price goes up in the EU morning around $1000 then down in the EU time evening around $1000.

That s not a regular does of volatility, that s a market being played by the big players. 

What I am surprised is how these which are being gamed do not understand the pattern and reverse it. Buy in the evening and sell in the morning, dump their game on them.

People aren't going to try to reverse it cause they know that once enough of them do the big players are just going to turn the tables on them, as per usual. So I mean, even if there is a pattern the little guys know that they cant go against the huge whales.

But in all fairness, who knows where the volatility comes from and who knows what the market is going to do. Even if the whales are pushing the market there is a good amount of other people involved in Crypto (news agencies)

[bit-freedom]

It is weird that I observe the opposite today. When asia is awake, Bitcoin price go $1000 higher and when USA is awake, Bitcoin go back to $1000 lower.

[pitiflin]

One theory is that since America is fucked up nation, people from Asian countries like say China, South Korea, etc are the ones who try to benefit from US not being much involved.
Another weird theory is that Kim Jong Un, North Korea's dictator(a dick aka), is another whale held responsible for bitcoin pump and dumps.

[Slow death]

Why? Theories?

should not your observation be a coincidence? Last year in the months of January and February there were not many people online at poloniex but in the month of december 2016 there were over 50,000 people online in poloniex and in january and February of 2017 had only less than 25000 people online in poloniex, in This is because people are on vacation or are paying their taxes and other things in real life and because they sell their bitcoins to cover their expenses. is my theory, another theory is maybe people are buying bitcoin because of the hard fork that will have on the 28th of February

[darkangel11]

There are groups of people with a lot of money that are playing the market. They saw the opportunity long ago and are taking advantage of the newbies that this market is full of. They are mostly making money on those nervous guys who go in not knowing what they're buying and setting stop loss positions right below their entry point. The group sells 1000 coins (at for instance 11k) and waits for the bots and panickers to go a few USD lower (for instance 200 USD), they put the same amount of USD in and end up with more coins. The price recovers, newbies come in with their money and the process restarts, but this time instead of 1000 coins, they have approximately 1018 (if there was a $200 recovery). That's how you make money if you have enough capital to play with. I've posted about it a month ago during the correction.

That's a very interesting point. Did you try to figure out which could be the percentage of the Bitcoins which get traded versus the total supply?

To do it one would have to compare statistics from all exchanges around the world, or at least all of the biggest ones in every country.
If we take a single exchange like bitfinex and compare some of the recent pump and dump schemes  we'll at least have a confirmation of what's going on.
January 22 (dump) 6200 btc in 2 h
January 23 (pump) 5900 btc in 2 h
January 26 (dump) 7200 btc in 2.5 h And on the same day there was a quick rebound during which almost 6000 coins were bought back in a little over an hour.

I believe the ones buying back are the same people that were selling during the dump, there's no significant price movement because there's no fresh coins or money coming to the exchanges. It's always the same people playing around with newcomers bringing less than 10% of the capital to the table.

[crazyivan]

See, again the same story, EU and US East awake, the price goes up to close to $10k, then Asia awake and we go to $9400 and probably below.

I bet we see the same pattern tomorrow.

[crazyivan]

.....and again he same story, every single day Asia day time the price gets dumped and pumped in the evening.

What is wrong with you people? Take advantage of this.

[coolcoinz]

See, again the same story, EU and US East awake, the price goes up to close to $10k, then Asia awake and we go to $9400 and probably below.

I bet we see the same pattern tomorrow.

Something strange is going on. Not sure if it's Asia vs the rest of the world, mainly because traders are doing their thing at night as well. It's not like the average investor wakes up at 6 or 7 a.m. to start buying and then goes home and forgets about it until the next morning.
Anyway, this looks like the same money is being traded. Like some group sells everything and waits if the people get scared and start following them. If they don't, the group buys back and tests the opposite position. Check bitfinex on February 24 and today.