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Author Topic: Bitcoin dropped by $2k  (Read 935 times)
coinocean03
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March 08, 2018, 10:35:48 AM
 #1

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it? 
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Arngrim
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March 08, 2018, 10:39:25 AM
 #2

If they cannot log in then the value should be increasing for a lot of bitcoin is on hold.
I dont think that is the problem here.
It is fluctuating and a lot of altcoins are being pulled by it too.
$2k difference is not so new now. In fact, it is a low amount compared to what is lost just a month ago.

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First77
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March 08, 2018, 10:46:02 AM
 #3

It's going to $6,500 again..... See my "Twitter page" below for other informations, price updates and events that will turn the markets Grin
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March 08, 2018, 10:49:41 AM
 #4

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it? 

I think you are referring to Binance. They already acknowledge hack, but its not a like the whole trading platform is hack. Some who is using some kind of bot have found some exploits. That's why they halted withdrawals to investigate and assess the damage.

Yes, the downtrend has something to do with this news. But they keep on updating its customers to control the damage. Unfortunately, there still another negative news about SEC announcing that exchanges must register with them. This has contributed to this bloodbath I supposed.

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tophe15
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March 08, 2018, 10:53:18 AM
 #5

I think not, it's the people who are selling the bitcoin that's why its value is dropping today. If they can't log-in like what you have stated it means it's on hold right? No access = no transaction.
imapessimist
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March 08, 2018, 10:59:11 AM
 #6

Part of the reason it always drops every time it seems to be going up is the day traders who take their profit when price rises and buy in again when price drops a bit.  Then other folk panic when they see the price going down and sell their Bitcoin so they don't lose too much money.  I think as long as the day traders are around it will affect the long term growth. 
romanovst
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March 08, 2018, 11:01:49 AM
 #7

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it? 

People not being able to login will not result in decrease in the price. I have not come across any authentic news that could effect bitcoin price this bad. But I was reading a post here today and it was mentioned there that some person has sold 400 million worth bitcoins and is not finished yet. This might be the reason for increased supply and thus prices coming down. A lot of people will follow this or sell in panic if the news is true. I never thought that we will see such a price decline in such a short time again.
btcwish1
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March 08, 2018, 11:14:43 AM
 #8

No one really knows what is going on and what is actually causing the drop for last 3 months!.

There are so many good news such as USA and Russia going easy on crypto. This itself should be enough to take it to Moon. But no!!  BTC price is just going down. If it increases 5% within few days it drops to 10%.

This is really strange and I am sure even the experts don't know what is going on and where BTC price heading..  $50k or $5k Huh
mobnepal
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March 08, 2018, 11:16:48 AM
 #9

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it?  
Price has already recovered from that panic zone and soon we might get well over $12k. Actually there is huge resistance on $12k that's why price hover around $11.5k for few days before dropping to $9.5k as few trader got panic and sold their coins.

Some pull backs are good to build support so that those resistance can be broken down on next wave of surge.

I am not using bitmex but I think small login issues can't cause sudden panic in market.
andreevaviktoriy77
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March 08, 2018, 11:22:07 AM
 #10

Yes, he fell right now, of course, and just while there is such a buzz everyone buys bitcoin to then wait for growth. Although I think some will be skeptical about selling and selling it sooner so as not to lose anything
xieqieshangu9
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March 08, 2018, 11:22:37 AM
 #11

The currency exchange was temporarily suspended from all currencies, and the exchange was reluctant to compensate users for their losses.

These are the reasons why digital encryption money come in!
kynaz
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March 08, 2018, 11:25:59 AM
 #12

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it?  
Price has already recovered from that panic zone and soon we might get well over $12k. Actually there is huge resistance on $12k that's why price hover around $11.5k for few days before dropping to $9.5k as few trader got panic and sold their coins.

Some pull backs are good to build support so that those resistance can be broken down on next wave of surge.

I am not using bitmex but I think small login issues can't cause sudden panic in market.

To overcome the $ 12,000 price, many investors and whales are needed. I think the entire Crypto market is still in a downtrend and it will probably take at least 1-2 months for the Cryptocurrency market to fully recover and Bitcoin prices are likely to rise sharply beyond 12,000. $ but I'm sure it will happen soon and now is a good time to buy Bitcoin because Bitcoin is at a very cheap $ 10,000

First77
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March 08, 2018, 12:06:45 PM
 #13

To overcome the $ 12,000 price, many investors and whales are needed. I think the entire Crypto market is still in a downtrend and it will probably take at least 1-2 months for the Cryptocurrency market to fully recover and Bitcoin prices are likely to rise sharply beyond 12,000. $ but I'm sure it will happen soon and now is a good time to buy Bitcoin because Bitcoin is at a very cheap $ 10,000

Only a fool will buy Bitcoin at $3,000 when you can lose all your money in Bitcoin. Look at the price of safest investments gold, silver, land etc.. You can get $5,000/acre land in many parts of the world.
LSt56
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March 08, 2018, 12:26:28 PM
 #14

No one really knows what is going on and what is actually causing the drop for last 3 months!.

There are so many good news such as USA and Russia going easy on crypto. This itself should be enough to take it to Moon. But no!!  BTC price is just going down. If it increases 5% within few days it drops to 10%.

This is really strange and I am sure even the experts don't know what is going on and where BTC price heading..  $50k or $5k Huh
it's true I'm also curious about what's going on, after a remarkable rise at the end of last year and impacts to date the prices continue to rise and fall very conspicuously.

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March 08, 2018, 12:31:54 PM
 #15

I believe bitcoin will crash again. The overall trend is a bearish trend for me. This is part of the bitcoin price cycle, bitcoin will crash in the level where it will be really stable.
Maybe that time fewer and fewer people will still have trust in bitcoin and those people will be rewarded again when the price will peak again.
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March 08, 2018, 12:53:25 PM
 #16

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it? 

I won't be putting all the blame to this kind of situation wherein bitcoin's price will really fall down.
i guess its downfall today can be highly attributed to people selling their coins whenever they see a minor dip in the price.
they simply doesn't want to take the risk of it getting lower.

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Kingofbitcoin12345
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March 08, 2018, 01:04:23 PM
 #17

Difficulties in entering or login in,, have no and won’t have any effect on bitcoin price as exchange only holds the coin and not spending it.. Dropping 2000$ on a market price have many factors as it is accumulated reasons of simultaneous bad propaganda and hacking incidents that create panic to new users/investors that have inexperienced on the 2017 attacks..

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March 08, 2018, 01:09:28 PM
 #18

We have seen larger falls in the past. $ 2,000 is fine. Bitcoin can overcome them in a few hours. I am sure that this decline is due to the desire to buy the whales coins for beginners. They are not accustomed to volatility and often sell their coins. But they have few coins so they can not affect the price of bitcoin. Very soon, the price of bitcoin will rise to $ 12,000.
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March 08, 2018, 01:15:31 PM
 #19

I do not think such a thing would happen, because the possibility is very small to make the bitcoin price back to $ 2000 and I think if the bitcoin price will go down at least the bitcoin price reaches only $ 6000.

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March 08, 2018, 01:15:51 PM
 #20

As all of you know that the value dropped from a solid $11.5k to $9.5 recently. Could BitMex, the trading platform for bitcoin on other cryptos, where some users who had difficulty logging into its platform be one of the reasons for it? 
It could be. If they have trouble logging on then the trades they had on queue will be on hold for a long time. The effect of this is that they will be holding so much crypto whether it is bitcoin or any other tokens and that way of mass holding can greatly affect the price of bitcoin. I am sure that everything will be fine once the exchange site is fixed. They can move to other exchanges though but that will be irrelevant if they had already started their trade.

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