Why is Bitcoin Crashing?

[medaheads]

The Bitcoin price as of now is dancing because of the ETF news. US SEC will announce it’s Bitcoin ETF decision on 10 August 2018. It is being said that, it might happen that SEC approves CBOE ETF on 10 August and if it happens, we can see a parabolic bull run in Bitcoin price. Until then, it may hover between $7600 to $9000. What do you think? Where is Bitcoin heading and what about the Altcoins and the rest of the Cryptos?

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[NeuroticFish]

Until then, it may hover between $7600 to $9000.

"Hovering between $7600 to $9000" is different concept from crashing.
Did you want to copy/paste a different news and mixed them up? 

Also, it cannot really hover "between $7600 to $9000" when the current value is not inside those limits, right?

Maybe that's why you change the subject to "crashing"? No. It's not crashing, at least not in my opinion. Just the lower limit of the "hovering" interval was too optimistic. $7000-$9000 or even $6500-$9000 may be more realistic.

[Pursuer]

Until then, it may hover between $7600 to $9000.

"Hovering between $7600 to $9000" is different concept from crashing.
Did you want to copy/paste a different news and mixed them up? 

Also, it cannot really hover "between $7600 to $9000" when the current value is not inside those limits, right?

Maybe that's why you change the subject to "crashing"? No. It's not crashing, at least not in my opinion. Just the lower limit of the "hovering" interval was too optimistic. $7000-$9000 or even $6500-$9000 may be more realistic.

it is because the definition of crash that newbies like OP have is very different from definition of a crash that normal people have. it comes from their false expectations out of bitcoin. they expect it to always rise and rise big. for example if today price were $7000 they expect it to be $8000 in a week then $9000 in 2 weeks and by the end of the month they expect $10k and $100k by the end of the year.
and when that doesn't happen they consider it a "crash" and sometimes they even call bitcoin "dead" because of it!

[DMXToken]

The past couple days, everyone in the bitcoin Futures market has been following the trials and tribulations of Mr. OKex #1 Top Contract Holder, who accumulated a $460 Million Long position on BTCUSD Quarterly Futures before getting liquidated.

My man RJ from Whalepool documented the rise of the $460 Million position https://twitter.com/RobertJandeJong/status/1024180713686491136


…and the fall https://twitter.com/RobertJandeJong/status/1024278308672946176



Great laughs, big dumb rich guy gets rekt being wreckless…

…the only problem is that this liquidation did not get filled in the market, and theres now a $420 Million overhang in this weekly settlement period that impacts all three maturities on BTCUSD Futures: https://twitter.com/whalepool/status/1024366915001769987

[NeuroticFish]

it is because the definition of crash that newbies like OP have is very different from definition of a crash that normal people have. it comes from their false expectations out of bitcoin. they expect it to always rise and rise big. for example if today price were $7000 they expect it to be $8000 in a week then $9000 in 2 weeks and by the end of the month they expect $10k and $100k by the end of the year.
and when that doesn't happen they consider it a "crash" and sometimes they even call bitcoin "dead" because of it!

In my bad days I set on ignore such panicking newbies, expecting most of them being paid to post FUD. But maybe I am just too harsh sometimes but we can't just teach the obvious again and again for each and every newcomer which most of the time doesn't even care to read.

who accumulated a $460 Million Long position on BTCUSD Quarterly Futures before getting liquidated.
[...]
…the only problem is that this liquidation did not get filled in the market, and theres now a $420 Million overhang in this weekly settlement period that impacts all three maturities on BTCUSD Futures:

Wow, interesting coverage, thank you.

[krashradder]

Mainstream Media FUD is the Another crippling factor that always holds Bitcoin’s price back is bad press and the torrent of misguided information that is passed down to the general public.As the traditional financial system comes under threat, mainstream media has played its role in misrepresenting the industry to potential new investors in this space, by downplaying its technological utility and over emphasizing bearish market movements.

[Epimetheus]

Bitcoin crash means the falling in its market price and also falling its share at international market. Their are many reason support this thing. First of all bitcoin transactions traffic, bitcoin taking to much time to clear an transaction because of this the transaction cost also increased and this thing put negative affect in its popularity and in profit. Secondly is its irregular production and distribution of bitcoin. When bitcoin miners doesn't mine enough bitcoin then the effect directly see upon the price of bitcoin. Negative news shown by different media also put negative effect on the profits of bitcoin.

[johnsteve]

Market manipulation is the main reason behind the bitcoin crash as, BTC market manipulation has been a highly contentious area that always arises when questioning Bitcoin’s price activity. Whether traders choose to accept it or not, evidence supplied by a University of Texas finance professor recently, along with investigations by the United States Justice Department the Commodity Futures Trading Commission, are beginning to prove that this ‘conspiracy theory’ actually exists in the market.

[amwer]

Exchange rates are public information which are kept up-to-date within seconds across the world. The algorithm must virtually buy BTC when the value gets lower too fast and must release them again when the price gets higher too fast. Must be an open algorithm known to and executed by the community. I did not say it is easy.. but I would rely on people who can invent blockchain and LN which seems much much more complicated.

[tkaush]

Bitcoin is not Crashing and it will never crash at least it won't happen in this decade but it is growing faster around the world due to it's better qualities and capabilities that can help it's user's to do more than fiat currencies so even it seems like crashing it is a temporary situation and It will never happen. 

[stompix]

Why is Bitcoin Crashing?

Satoshi has inserted a secret line of code in both the bitcoin and forum code.
Whenever a topic about the bitcoin price going down is posted, bitcoin drops another 10$
That's why!!!!

Back to serious things....

The past couple days, everyone in the bitcoin Futures market has been following the trials and tribulations of Mr. OKex #1 Top Contract Holder, who accumulated a $460 Million Long position on BTCUSD Quarterly Futures before getting liquidated.

This really needs some popcorn,
https://www.ccn.com/okex-initiates-clawback-after-bitcoin-futures-market-unable-to-cover-420-million-liquidation/

According to sources, the OKEx insurance fund doesn’t have nearly enough coverage for this issue. This social loss is a massive amount of money which amounts to 950 BTC. The OKEx insurance fund, meanwhile, covers just 10 BTC. However OKEx has now moved to cover the loss by injecting 2,500 BTC into the exchange’s insurance fund.

Wait, they've had only 10BTC in the so-called insurance fund? 80 000$???
They claim to be on of the largest exchange and that's all they had ready?

And how the hell is this even possible, the guy gets recked (?) and then everybody shares the loses?
There are so many things wrong in this story I'm having troubles believing it...

[YuginKadoya]

Well there are a series of never ending dramas between the value and some newbie hodling bitcoin or maybe it is due to correction? The price needs to establish a series of give and take Well all I see is bitcoin price is moving so much fast now from $8100 USD back from 3 hours ago I look again on the price now it is at $7400 USD, if this seems not normal to you then again think about the drop back when the price reach $18,000, I really think that is the most unnerving kind of drop and not this one, I really think if you try to sleep it off tomorrow  you can see that the price is back at $8000 USD again.

[qazgroup]

Well i do not think that etf decision is coming on 10th august now i was reading a news couple days ago that said that etf decision has been delayed to 21st of september, so i think september can be a big month of btc and overall market.

[nidacoinlove]

Until then, it may hover between $7600 to $9000.

"Hovering between $7600 to $9000" is different concept from crashing.
Did you want to copy/paste a different news and mixed them up? 

Also, it cannot really hover "between $7600 to $9000" when the current value is not inside those limits, right?

Maybe that's why you change the subject to "crashing"? No. It's not crashing, at least not in my opinion. Just the lower limit of the "hovering" interval was too optimistic. $7000-$9000 or even $6500-$9000 may be more realistic.

it is because the definition of crash that newbies like OP have is very different from definition of a crash that normal people have. it comes from their false expectations out of bitcoin. they expect it to always rise and rise big. for example if today price were $7000 they expect it to be $8000 in a week then $9000 in 2 weeks and by the end of the month they expect $10k and $100k by the end of the year.
and when that doesn't happen they consider it a "crash" and sometimes they even call bitcoin "dead" because of it!

Absolutely right!!!
New people come up with a very high expectations from Bitcoin that they are gonna earn rapidly and especially when they hear about the early adopters who were mostly average class and then became millionaire with Bitcoin. But one thing they miss that the early adopters were very much patient about BTC also they got a chance which was available only at that time and that situation can't be repeated. The early adopters have also seen some worst time of Bitcoin when no one was even ready to accept that this sort of technology exists and it will be recognise someday by almost all the world.

[Slow death]

it may hover between $7600 to $9000.

probably

What do you think?

as I have said many times, if eventually the ETF is approved, then the price will rise but in case the ETF is not approved then the price will fall a lot

what about the Altcoins and the rest of the Cryptos?

This is the biggest problem. see Neo returned to the price of $28... I mean Neo reached $160 and in less than a few months Neo fell from $160 to $28, imagine this loss? Lisk fell from 300,000 satoshi to 60,000 satoshi. ETH also fell a lot. This is case to say that the crypto world is very dangerous market

[Dreamchaser21]

Well i do not think that etf decision is coming on 10th august now i was reading a news couple days ago that said that etf decision has been delayed to 21st of september, so i think september can be a big month of btc and overall market.

Because of that delay, bitcoin is dumping again but I don’t think its crashing its really different I think. The price may continue to go down up to $6k level again but you don’t need to panic because it will be hype again before September and we will see a great run again especially when we heard a final decision coming from the SEC.

[Clark05]

Bitcoin crashing has a lot of factor maybe to the panic seller and  to the bad news that can affect to the partners and investor.

But we can stop crashing price if we buy more bitcoin and by simple holding your bitcoin can really big help to the coomunity.

[dothebeats]

Everyone seems to be banking on the ETF decision and I'm pretty sure, disappointments would largely follow if the SEC decides to not approve the CBOE ETF. While the reconsideration process handed everyone a breathing room, we still aren't sure whether this time, SEC will favor the ETF. Prices seem to have calmed down a bit after the delay has been announced, suggesting that the bulls are also banking on the said decision. Moreso, aggressive buy orders have been removed in the market, with only a little remaining to hold the price together.

[ASHANABEY]

This is due to some but considerable negative effects happened in last period such as , Government restrictions against Bitcoin, Banning, Criminal activities using Bitcoin, Panic token holders and other false rumors that made ridicules accusations against Bitcoin which made the general public more and more concern about investing in Bitcoin and owners sold most thinking this will drop further and it did not happen 

[bitbunnny]

This is not the crash, it's minor correction. Nothing unsual and the price is staying in the range between 7000 and 8000$.
Investors are maybe more caucious now and not so keen to take the risk regarding the past experiences but still that doesn't influence the price significantly.
Also there are always some rumors that intend to harn Bitcoin as well as media and social network announcements but such influence on price is short term.