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trecore4
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March 08, 2018, 03:16:21 PM
 #41

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? 

That's really small volume from the trading platform like that. I mean it's small in front of the market cap that has recently dropped from the market. Just because people were not able to log in into this platform doesn't mean that it dropped the volume dramatically. I mean come on how many of them might have been putting lots of money on the trades which can support the 2k drop. I don't believe that there is only one reason for this drop but there are many. It could be corrections, it could temporary unavailable platforms like binance etc and much more.

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March 08, 2018, 03:19:17 PM
 #42

well the 2k different for the drop of bitcoin is not something new and is nothing to worry about, a drop different worth more than this has happened earlier before now. with the users of bitcoin not being able to login into their platform/dashboard it will be of a good advantage to them because they might want to sell off the one which they have because of the fear of the fall... the price will fall but before this time next week it will definitely rice back to the price which it was earlier this wk ($11k)  

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March 08, 2018, 04:46:15 PM
 #43

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, 04:49:23 PM
 #44

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, 04:50:46 PM
 #45

One explanation is that the Mt Gox bankruptcy trustee is dumping a lot of BTC and BCH in the exchanges right now. According to available reports, the trustee is still in the possession of close to BTC168,000 and similar number of BCH.

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March 08, 2018, 05:04:55 PM
 #46

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.

I also agree with you, I think the same thing. it's those people who are always in panic when the price  of bitcoin drops a bit , they are selling their bitcoins for the reason that they are afraid that bitcoin will go down to its bottom in which I don't think it will.happen.


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March 08, 2018, 05:11:36 PM
 #47

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.

They were not hacked. First of all this was a different kind of hack, the actual hacking took place in last 2 months and targeted various users by phishing and stealing their login details after that they saved their APIs only to try use them yesterday to pump other coin and after that cash out their own coins, which they did not do because Binance had security measures in place which blocked these transactions to appear.

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March 08, 2018, 05:15:50 PM
 #48

I think that there is no panic in the market. The price dropped because the Hackers stole the API keys of Binance accounts, and actively sold the assets of other users. I think the price will rise soon.

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March 08, 2018, 05:19:46 PM
 #49

The recent drop we're experiencing is due to the dramas and issues revolving around the cryptosphere, same scenario as last year. Understanding the volatility of bitcoin, it is somehow discouraging to invest in a downtrend of BTC price, but if you will look at the bigger picture, for long term, it is a good opportunity to buy more BTC at a discounted price. Plan your entry point and look for signs of reversal.

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March 08, 2018, 05:27:34 PM
 #50

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? 

That aint the problem here. If they're having difficulty to log in then it will not affect price of since the bitcoin is on hold. I really think that FUDs are always the main reason of the token dips however it also beneficial to the traders since we are able to buy cheap coins during dips.

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March 08, 2018, 05:30:12 PM
 #51

I think that there is no panic in the market. The price dropped because the Hackers stole the API keys of Binance accounts, and actively sold the assets of other users. I think the price will rise soon.

I hope your right lol. I feel like if the price keeps going down then even some of the best holders will begin to sell which will set in even more panic tanking the price even more.

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March 08, 2018, 05:39:02 PM
 #52

The recent drop we're experiencing is due to the dramas and issues revolving around the cryptosphere, same scenario as last year. Understanding the volatility of bitcoin, it is somehow discouraging to invest in a downtrend of BTC price, but if you will look at the bigger picture, for long term, it is a good opportunity to buy more BTC at a discounted price. Plan your entry point and look for signs of reversal.
We always experience this kind of situation about bitcoin price drops. It could go even lower or this time will not so a lot of issues happen this time. A normal situation rather in bitcoin that fluctuations should expected. Yes a good chance to buy bitcoin because of the value goes down.


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March 08, 2018, 05:42:50 PM
 #53

I think that there is no panic in the market. The price dropped because the Hackers stole the API keys of Binance accounts, and actively sold the assets of other users. I think the price will rise soon.

that's no panic ?? 

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March 08, 2018, 05:53:20 PM
 #54

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? 

For me let's just wait for the perfect timing. We all know that Bitcoin still have some dips this early year but let's just hope and be patient for the price to rise up again. For you to be able to jump higher, you need to bend your knees. If the price drops, don't be discourage but instead take this opportunity to invest additional coins and then hold until you have reached the desired income. Just think that dips are normal in trading and this is our change to buy more Bitcoin and other crypto currencies.

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March 08, 2018, 06:14:20 PM
 #55

One explanation is that the Mt Gox bankruptcy trustee is dumping a lot of BTC and BCH in the exchanges right now. According to available reports, the trustee is still in the possession of close to BTC168,000 and similar number of BCH.

Correct, but I don't know the timing is really bad. He could have waited a few more days before selling. I guess he needed to llquidate it today. Sadly the effect has rippled already and the market is now southside.

Maybe we may see bitcoin going at $8k. But I do think that there will be resistance at $7K and $6K that it will not go further below that price.

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March 08, 2018, 11:59:11 PM
 #56

I think the reason for the slight downfall,  as I would call it,  is that fact there a lot of people who are selling their bitcoins because of panic. The panic sell because they believe the price of bitcoin could go worst than its current price and believe that they have to sell at the current price in order to avoid loss.
However, it's not advisable to panic sell during the dumps of bitcoin. It is certain that no matter how tragic the downfall maybe,  there is a high chance the price will skyrocket back even going beyond its previous price.

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March 09, 2018, 12:25:47 AM
 #57

some users who had difficulty logging into its platform be one of the reasons for it? 
No it's not the reason why bitcoin is dropping. Many are taking their money and profits gone out to bitcoin and that's the reason why the price dropped dramatically. But there are also connection with exchanges when bitcoin is dropping and one of it is the recent news about Binance being hacked but it's all good again so we should expect that this drop will be ending up soon but there's no exact date or time when it will happen. The charts are still bloody but percentage went low.

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March 09, 2018, 01:07:29 AM
 #58

No it's not the reason why bitcoin is dropping. Many are taking their money and profits gone out to bitcoin and that's the reason why the price dropped dramatically.

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March 09, 2018, 01:14:04 AM
 #59

I think btc will halt on 6k and than it will grow to 10k by the middle of the next month. And gonna keep its value of near about 10000 somewhat.
What ever the news is..it happened for a reason on purpose and every year this will happen.
Dont believe in cryptoes just take the opportunity out of it. Make the move at the right time.

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March 09, 2018, 01:17:26 AM
 #60

some users who had difficulty logging into its platform be one of the reasons for it? 
No it's not the reason why bitcoin is dropping. Many are taking their money and profits gone out to bitcoin and that's the reason why the price dropped dramatically. But there are also connection with exchanges when bitcoin is dropping and one of it is the recent news about Binance being hacked but it's all good again so we should expect that this drop will be ending up soon but there's no exact date or time when it will happen. The charts are still bloody but percentage went low.

Totally agreed. Hod the coins. Panic sell wont lead to any good. I will keep saying not to trust cryptos though. But one should understand the true potentiality of btc by relying on its record.

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