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Author Topic: Why is there a sell off again ?  (Read 2807 times)
joburgtaxi
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December 11, 2013, 12:21:40 PM
 #1

Anyone know what is causing the sell off again ?

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El Dude
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December 11, 2013, 12:27:12 PM
 #2

Anyone know what is causing the sell off again ?

just whales  bringing down the price so they could buy more coins .

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December 11, 2013, 12:27:59 PM
 #3

Anyone know what is causing the sell off again ?

Dont need a reason for every drop in price, its a free market its up to the market on what the price does.

weak hands more of a bearish market atm.

I wont worry too much, just look at it as cheap coins  Wink

Bitcoin will show the world what hard money really is.
LatestBTC
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December 11, 2013, 12:28:11 PM
 #4

Due to the recent JPMorgan news there has been a lot of panic selling

http://latestbtc.com/bitcoin-price-dropping/
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December 11, 2013, 12:29:31 PM
 #5

Anyone know what is causing the sell off again ?

just whales  bringing down the price so they could buy more coins .
Just like they pushed the price up to buy more dollars. Smiley
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December 11, 2013, 12:33:44 PM
Last edit: December 11, 2013, 12:44:09 PM by TookDk
 #6

I really hope that JP is not successful in their stunt.
Normal practices is that "designs" that is already implemented cannot be pattent - but you never know with such a big player as JP, they have a army of lawyers and political influence.
Bitcoin will without doubt survive no matter the outcome, the question is if it can go mainstream with a pattent like that pending.

Edit: I do not know any details about JP patent, however I have just heard that the pattent might have been formulated before the time of BTC. Anyway, it could be good news for the cryptocurrency if JP wants a piece of the cake, time will tell.

Cryptography is one of the few things you can truly trust.
seafarer124
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December 11, 2013, 12:33:50 PM
 #7

Possibly something to do with the link below.

https://bitcointalk.org/index.php?topic=366926.20  

See also the link in Post#7.
joburgtaxi
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December 11, 2013, 12:34:20 PM
 #8

Due to the recent JPMorgan news there has been a lot of panic selling

http://latestbtc.com/bitcoin-price-dropping/

I was thinking this too

lethe
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December 11, 2013, 12:45:04 PM
 #9

JPMorgan renews a patent filed in 1999 and you think that is the reason for the price drop?

Stop reading shittybitcoinpumpdumpnews.com

Painful Truth
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December 11, 2013, 12:49:14 PM
 #10

JPMorgan renews a patent filed in 1999 and you think that is the reason for the price drop?

Stop reading shittybitcoinpumpdumpnews.com



+1

>> http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12
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December 11, 2013, 01:08:47 PM
 #11

Because we are probably in a bear market.
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December 11, 2013, 01:09:13 PM
 #12

Anyone know what is causing the sell off again ?

Don't you expect people to take some profits after an impressive 3-day uptrend from a low of 570 to 1000+? China signaled the start by a pretty large sell off and that triggers other speculators to think that it's time to take their profits as well. It's not rocket science. Wink

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December 11, 2013, 01:12:35 PM
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EvilPanda
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December 11, 2013, 01:39:02 PM
 #14

Exactly like it was with the "china news" - people are so dumb. Just look at any black friday video

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December 11, 2013, 02:03:06 PM
 #15

Exactly like it was with the "china news" - people are so dumb. Just look at any black friday video

lol... are you really comparing black friday shopping maniacs (which really is a small minority of the population) with bitcoin market dynamics? This is a silly comparison. There doesn't need to be a solid catalyst for every market dip. All that's happening is we experienced a sizable rally for the past couple days and smart investors are now taking their profits. The market has lost momentum when compared to last month, and most likely we don't have the buy support at the moment to reach another ATH.


Night gathers, and now my bitcoinwisdom watch begins.
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December 11, 2013, 02:16:41 PM
 #16

Because we are probably in a bear market.

Probably because the drop from 1242$ to 576$ was corrective wave A, the rise to 1069$ was wave B,
and now the market entered corrective wave C. But right now the price is still at 920$, so to confirm this
the price has to further drop today or tomorrow to 700$ - 750$, and much lower within a week.

Sometimes, if it looks too bullish, it's actually bearish
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December 11, 2013, 02:17:56 PM
 #17

Due to the low orderbook depth the dead cat bounce was surprisingly higher than expected. I my view it was pretty obvious that we quickly go down at some point. China did not break the double top neckline, which was the trigger for the sell off.
EvilPanda
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December 11, 2013, 03:04:50 PM
 #18

Exactly like it was with the "china news" - people are so dumb. Just look at any black friday video

lol... are you really comparing black friday shopping maniacs (which really is a small minority of the population) with bitcoin market dynamics? This is a silly comparison. There doesn't need to be a solid catalyst for every market dip. All that's happening is we experienced a sizable rally for the past couple days and smart investors are now taking their profits. The market has lost momentum when compared to last month, and most likely we don't have the buy support at the moment to reach another ATH.



I'm not talking about dynamics but stupid people reacting to news without thinking. That's why the "silk road crash" and "china crash appeared".

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December 11, 2013, 03:08:37 PM
 #19

Stop reading shittybitcoinpumpdumpnews.com
yes
ElectricMucus
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December 11, 2013, 03:13:22 PM
 #20

JPMorgan renews a patent filed in 1999 and you think that is the reason for the price drop?

Stop reading shittybitcoinpumpdumpnews.com



+1

>> http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12

That's more like confirming than debunking, if the patent is a decade old, even worse, and if you look at the flowchart there are thing like payment conformation and certification. Right, this probably is a troll patent, but that doesn't make it any less threatening. Just remember the world we live in and what an army of highly payed lawyers, bribes and corruption can do it it.
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