rosemary4u (OP)
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June 11, 2018, 11:50:24 PM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
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atrocityx
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Activity: 336
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June 12, 2018, 12:28:09 AM |
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TL: DR Market manipulation of big sell-offs on Bitfinex and leveraged insider trading rumors on Bitmex.. long story short... any position right now is just gambling.. and definitely avoid leveraged positions.
The Bear Scenario: The bart candles (looks like Bart Simpson's head) are signs of extremely low volume and easy manipulation. On Bitfinex you can see that most volume is happening on 1 or 5 min candles and its just massive sell-offs and lack of enthusiasm with it being bought up. We need more liquidity from something like an ETF announcement so that whales cant so easily decide the price. I'm not convinced the capitulation is over yet either.. since sell-side volume wasn't met by buy-side volume, we could see another or round or two. Be careful of opening longs or shorts right now, especially on leverage.. bitmex is swirling with rumors of insider trading involving high-frequency trading bots on very low latency trading against the market with its client's stop limit information. Careful out there of falling daggers... its impossible to predict the bottom since it will likely continue until there equals more buy volume buying the dip... Below 6k although unlikely is technically possible.
The Bullish Scenario.. we create a triple bottom here and break out of this annoying never ending wedge pattern, we peak some more volume interest and we miraculously get some news like bitcoin ETF being approved. We break above 9000 USD and enter a new alt cycle.
I'm more bearish than bullish, but I'm definitely happy to break down out of this wedge pattern, trading has been predictable and boring (atleast on the trend) and looking to mix it up with some newer opportunities.
Stay safe, take calculated risks, and hopefully the bull market is right around the corner, good luck!
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DaMut
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June 12, 2018, 01:39:03 AM |
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TL: DR Market manipulation of big sell-offs on Bitfinex and leveraged insider trading rumors on Bitmex.. long story short... any position right now is just gambling.. and definitely avoid leveraged positions.
The Bear Scenario: The bart candles (looks like Bart Simpson's head) are signs of extremely low volume and easy manipulation. On Bitfinex you can see that most volume is happening on 1 or 5 min candles and its just massive sell-offs and lack of enthusiasm with it being bought up. We need more liquidity from something like an ETF announcement so that whales cant so easily decide the price. I'm not convinced the capitulation is over yet either.. since sell-side volume wasn't met by buy-side volume, we could see another or round or two. Be careful of opening longs or shorts right now, especially on leverage.. bitmex is swirling with rumors of insider trading involving high-frequency trading bots on very low latency trading against the market with its client's stop limit information. Careful out there of falling daggers... its impossible to predict the bottom since it will likely continue until there equals more buy volume buying the dip... Below 6k although unlikely is technically possible.
The Bullish Scenario.. we create a triple bottom here and break out of this annoying never ending wedge pattern, we peak some more volume interest and we miraculously get some news like bitcoin ETF being approved. We break above 9000 USD and enter a new alt cycle.
I'm more bearish than bullish, but I'm definitely happy to break down out of this wedge pattern, trading has been predictable and boring (atleast on the trend) and looking to mix it up with some newer opportunities.
Stay safe, take calculated risks, and hopefully the bull market is right around the corner, good luck!
i am totally agree with your Bear scenario because it's what we are seeing right now and i do not agree with your bullish scenario. as we can see Bitcoin did this many times before and some people claimed it's a bullish sign, but do not forget about the fact that it does not have any volume at all,that means even though it formed a triple bottom it won't change the sentiment and demand. (for me this kind of view is not valid any longer). the only thing that we have currently is HOPE nothing more than that,Bitcoin is on SUPER BEAR and it won't change until a year time. at best we will see it move sideways |
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DumbLefty
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Activity: 412
Merit: 100
The Protocol for the Audience Economy
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June 12, 2018, 06:55:33 AM |
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Most likely, the rich whales decided to buy themselves bitcoins with a big discount and collapsed the price. We should wait.
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Thanasis
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June 12, 2018, 06:59:42 AM |
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Most likely, the rich whales decided to buy themselves bitcoins with a big discount and collapsed the price. We should wait.
Yes it maybe caused by the whales but I see this as a sign for the bump in the bitcoin price soon so this is chance for us to get the bitcoin at the discounted rate,just make everything positive for us so try to apply the same strategy of whales here and the profits maybe less according to how much we are investing. |
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marcbitcoins
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June 12, 2018, 08:39:38 AM |
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Most likely, the rich whales decided to buy themselves bitcoins with a big discount and collapsed the price. We should wait.
Well the big whales has nothing to do about it this time as per review of the experts they say that everything is just a normal that only the holders make a normal selling but it create a panic among other holders causing domino epic to the Altcoins too and the second reason was Coinrail hack in South Korea in which it makes the Korean Bitcoin enthusiast to do a panic selling too. Here is the news link for your reference https://www.ccn.com/cryptocurrency-market-falls-25-billion-overnight-as-bitcoin-drops-6-factors-and-trends/. |
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KorakPawon
Member
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Activity: 350
Merit: 11
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June 12, 2018, 09:32:16 AM |
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TL: DR Market manipulation of big sell-offs on Bitfinex and leveraged insider trading rumors on Bitmex.. long story short... any position right now is just gambling.. and definitely avoid leveraged positions.
The Bear Scenario: The bart candles (looks like Bart Simpson's head) are signs of extremely low volume and easy manipulation. On Bitfinex you can see that most volume is happening on 1 or 5 min candles and its just massive sell-offs and lack of enthusiasm with it being bought up. We need more liquidity from something like an ETF announcement so that whales cant so easily decide the price. I'm not convinced the capitulation is over yet either.. since sell-side volume wasn't met by buy-side volume, we could see another or round or two. Be careful of opening longs or shorts right now, especially on leverage.. bitmex is swirling with rumors of insider trading involving high-frequency trading bots on very low latency trading against the market with its client's stop limit information. Careful out there of falling daggers... its impossible to predict the bottom since it will likely continue until there equals more buy volume buying the dip... Below 6k although unlikely is technically possible.
The Bullish Scenario.. we create a triple bottom here and break out of this annoying never ending wedge pattern, we peak some more volume interest and we miraculously get some news like bitcoin ETF being approved. We break above 9000 USD and enter a new alt cycle.
I'm more bearish than bullish, but I'm definitely happy to break down out of this wedge pattern, trading has been predictable and boring (atleast on the trend) and looking to mix it up with some newer opportunities.
Stay safe, take calculated risks, and hopefully the bull market is right around the corner, good luck!
i am totally agree with your Bear scenario because it's what we are seeing right now and i do not agree with your bullish scenario. as we can see Bitcoin did this many times before and some people claimed it's a bullish sign, but do not forget about the fact that it does not have any volume at all,that means even though it formed a triple bottom it won't change the sentiment and demand. (for me this kind of view is not valid any longer). the only thing that we have currently is HOPE nothing more than that,Bitcoin is on SUPER BEAR and it won't change until a year time. at best we will see it move sideways if indeed this is the main purpose of what so they do like this and if indeed they have managed to continue what will they do next? this is just an unreasonable scenario if it should take the price of all coins other than btc and eth. |
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Koro-Sensei
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June 12, 2018, 09:37:50 AM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
I know some simple causes why bitcoin was getting this low this months because of negative feedbacks from around the world and spreading it in the internet was no hard feat so it was simple to turn people on the bad side of it because of the trend on online jobs and online scamming since there tons of it bitcoin was no exception from this foolish judgement. |
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vuithoinha
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Activity: 196
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June 12, 2018, 12:21:35 PM |
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Simply shark bad news comes up, incorporating additional bans from countries to undermine Bitcoin prices. This is probably the time when sharks collect large amounts of Bitcoin.
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kujaroth
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June 12, 2018, 12:31:20 PM |
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Maybe because the trend went down and it will soon stabilize. Or the demand is not that high against the supply.
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green547
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June 12, 2018, 12:58:50 PM |
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yawn, You should be used to these strong corrections by now. I've seen coins rebound from 90 percent losses before so this is nothing to worry about.
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ipanks
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June 12, 2018, 01:41:18 PM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
I think it might be any reason that makes bitcoin price is fall. we know that the news makes people panic and they sell their bitcoin with instant because they don't want to see their money is loose. maybe the whales make something that will push the price is down like in a few days ago. but I think the most reason why the bitcoin price is down is that people become panic after they read the news and they want to save their money first. |
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Scavagers
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June 12, 2018, 01:51:49 PM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
Have you noticed bitcoin's pump last december? I am sure you did. It only lasted for several days when it reached its peak and eventually it got worse and worse. After that pump, many users have sold their bitcoins resulting to the tremendous downfall of bitcoin's price.When many people keep selling their bitcoins, the result will be like that but when people bought bitcoins, the result will be the other way round. |
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Filicius
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June 12, 2018, 01:57:05 PM |
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yawn, You should be used to these strong corrections by now. I've seen coins rebound from 90 percent losses before so this is nothing to worry about.
Damn, I hope you're right. I'm not a crypto veteran so I'm afraid there is the possibility they won't bounce back, but I suppose I should a apply a longer term vision and focus on other things while stay tuned. About the sudden fall, I've seen is due to massive sell offs. While the general tendency is to a slowly, progressive increase in the price, some whales dump thousands of coins to the market in a few minutes erasing the hardly, in several days, achieved gains. |
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katiecbell
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June 13, 2018, 04:07:55 PM |
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-snip-
Right mate, what this market needs right now is liquidity and the annoying part of it all is that the whales are just so greedy that they make it so obvious manipulating the market anyhow they please and then making even traders very cautious of trying to trade the market at times like this. Asides liquidity, we also need real life usage as a currency because it seems we have more of a speculative asset right now than something with a value worth rising at all. Virtually most people are investing, trading and hardly are we seeing people making use of it as a currency which was the sole purpose of its creation. In the process of getting as a pure currency, bitcoin may face ups and downs which is what exactly happening right now. It may continue until, we all accept bitcoins as an another currency for day to day life. |
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aardvark15
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June 13, 2018, 04:20:59 PM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
It’s partly because of the hack of the South Korean exchange. Other than that it’s probably a combination of factors such as price manipulation, general nervousness of investors, and general worldwide economic uncertainty. I’ve noticed lately that there are lots of people making predictions about the price of Bitcoin and they range from Bitcoin being dead to being worth 1 million in a couple of years. |
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kaisa
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June 13, 2018, 05:24:28 PM |
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Regardless of any action, bitcoin wants to say that future financial technology will be driven by the rich (whales). society will not enjoy from this technology. the positive thing is "this is a case to be solved". bitcoin must be together with the community and avoid price manipulation. I am just a reader, not a fortune teller. So, you can listen to some of the posts I read to understand the case. the first, dusk or dawn by. @CryptoYoda1338. second, Bitcoin Price was Manipulated by Tether, Researchers Claim by. cryptonews.im. the conclusion is bitcoin is the future of society to achieve dream. |
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nsasuiteb
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BAILOUT
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June 13, 2018, 06:15:39 PM |
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Regardless of any action, bitcoin wants to say that future financial technology will be driven by the rich (whales). society will not enjoy from this technology. the positive thing is "this is a case to be solved". bitcoin must be together with the community and avoid price manipulation. I am just a reader, not a fortune teller. So, you can listen to some of the posts I read to understand the case. the first, dusk or dawn by. @CryptoYoda1338. second, Bitcoin Price was Manipulated by Tether, Researchers Claim by. cryptonews.im. the conclusion is bitcoin is the future of society to achieve dream. I don't think there is a relationship between whales and the technology but there is manipulation caused by many actors in the market. |
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TheDarkRide
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June 13, 2018, 06:27:32 PM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
I am not really sure what causes these down trend. About the rise again, it can be true but it can wrong as well. The chance for the price to go down even deeper to be frank exist too. |
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plpatel
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June 13, 2018, 07:55:27 PM |
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I have been wondering what could be the possible causes of the sudden fall in the price of bitcoin and the altcoins.I know from experience that it will surely rise again but I wish to know the possible causes of the fall in prices.
Despite current scenario showing weakness in Bitcoin, if it strongly holds its $6K levels nothing to worry about. But till when Bitcoin will be holding that critical level can't be said, so we hope that it rebounds from that $6K levels, these is my personal view. |
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