Bitcoin drops sharply by about 300$ today!

[Sutters Mill]

Many people are linking this sudden fall in the price of Bitcoin as a speculating  news which states that CFO of Goldman Sachs was planning to drop a plan to build a Bitcoin trading platform, causing the price of the cryptocurrency to crash. I mean,  I guess some investors might have held in to Bitcoin because of this plan. Now Goldman Sachs has clarify this as a false news,  hopefully the price will recover back.

This is news to me, but that doesn't make any sense to me at all. Who said that? Why would someone building an exchange cause the price to fall, especially the CFO of Goldman Sachs? That sounds like good news to me so why wouldn't the price go the opposite way?

what investors are speculating however is that they believe the ETF rejection by the end of this month can cause some drops so they want to be ready for that opportunity to buy in the dip.

Possibly. I just hope if/when it is denied (which it probably will be) that it doesn't fall any more.

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[gabmen]

Many people are linking this sudden fall in the price of Bitcoin as a speculating  news which states that CFO of Goldman Sachs was planning to drop a plan to build a Bitcoin trading platform, causing the price of the cryptocurrency to crash. I mean,  I guess some investors might have held in to Bitcoin because of this plan. Now Goldman Sachs has clarify this as a false news,  hopefully the price will recover back.

Well the good thing is that it held at 6.7 none the less considering that a news like that before would've plunged the price steeper. And it's slowly getting back to 6.8k.

[beerlover]

What is interesting is that the price goes up very slow right now but falls incredibly fast, even though it was not a large drop but still 300$ in few minutes means someone sold a whole lot of BTC.

The gravity of reality can be a bitch and what goes up must come down. There's always resistance on the uptrend and a not as much when it comes crashing back down to earth and this has a spiraling effect when weak hands start panic selling. I wouldn't sweat the small stuff though as these ups and downs are just part of bitcoin and we should learn to ride them out as there will be a hell of a lot more of this to come.

That is usually what a lot of people really do not understand.

Firstly, this is a very volatile and new market which will know even the exchange volume cannot be compared to the real matured market with huge liquidity and for that reason we can always see sharp drop in prices, which we all know even the volatility has reduced over time as we keep forging ahead.

Moreover, the fact remains that we have no serious level of demand, and markets are always likely to react to that most of the time, and if the market gets to a point where it is too much, it either tries to fight a bulls fight, or just simply let the bear take over until strong enough to retry. People should just get used to this and stop complaining.

[Ividanik]

Well, this is just around 5% movement. It is nothing for bitcoin and can be recovered in no time if any positive news come. Bitcoin just waits for a new trend in my opinion and when that time will come it will move between 7200 and 6000.

[KalaiBTC]

Exactly, the price has dropped by 1,000$ within 24 hours for bitcoin. No FUD or bad news affects the market. But the price crash has caused many people panic and panic sell a lot. Hopefully at the end of September Sec can accept the ETF so the market can be rescued

The current value is 6495 US dollar and this is a low value as we are still in bear market so all we need is to invest further so as to have Bitcoin in large quantity and to wait after getting success in reaching to a bull market that is your success if you successfully reach out at bull market.

In Bitcoin’s market we can get maximum profit only if we start buying in its low and the current market is better for this purpose so what are you waiting for.

[JMD07]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

Fluctuation of bitcoin price is normal in a volatile investment as being decentralize currency the government has no control of this and the prices will depends on the supply and demand of the market. You should not expect too much for the price as not to hurt yourself.

[zazarb]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

To be honest this 300$ decrease in price looking at the time perspective is not small, but watching the price of Bitcoin fluctuate lately it is really nothing bad, just wait a little longer and you will see how the price will recover.

[Gadhoh]

So when the price increases by 5%, you like to say, it increased a lot, it starts to go to the moon, it's huge!
But when the price decreases by 5% just over an hour, you say, it's not a lot, it's nothing, ect...

It's like when we were on the big bullrun and everyone was praising the unregulated market, talking about how great it is that crypto is free from regulations, etc. And then as soon as we starting dropping everyone was shouting for regulations to reduce volatility and help to stabilize the price.

People are funny/stupid.

People are not ready to losing for what he being investing.
I'm interesting about how the price setting down going to stabilize because most people expecting it too much go to the moon but for some another, they are worried if price increasing fast, the market will break down and price fall same as early of this year.

if people were truly expecting price to rise "to the moon" as you claim they are, then price would have had a big rally because truly expecting means they will also act on it and that means buying more which leads to a price rise.
besides nobody is worried about what you said (if price increasing fast, the market will break). in case you have missed it price has been rising fast for almost all the bitcoin history! and rising fast has nothing to do with market breaking! last year price went from <$900 to nearly $20000 and nothing broke. even after the correction it is still a 620% rise in one year.

what investors are speculating however is that they believe the ETF rejection by the end of this month can cause some drops so they want to be ready for that opportunity to buy in the dip.

Another reason for the drop in the value of Bitcoin. Regulatory uncertainty, concerns over price manipulation and market sentiment all weigh on cryptocurrency.

[BitHodler]

The current value is 6495 US dollar and this is a low value as we are still in bear market so all we need is to invest further so as to have Bitcoin in large quantity and to wait after getting success in reaching to a bull market that is your success if you successfully reach out at bull market.

The only reason you think current prices are low is because you compare them with how the price was at its peak last year. It's a false sense of market reality that makes people lose track of the actual situation right now.

Current prices are perfectly normal and may even turn out to be on the higher side in the coming months. People need to realize that during bear markets there isn't really all that much new money coming in.

I would even like to say that it's more likely that money is in the process of leaving the market. Crypto thrives on how it's being hyped up during rallies, and these rallies are pretty much not going to show up any time soon.

Just be realistic. You don't gain anything by acting overly bullish whilst hoping for a recovery, the only thing you're doing is stress out even more because of how the market isn't in the mood to recover.

[liuqi]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

To be honest this 300$ decrease in price looking at the time perspective is not small, but watching the price of Bitcoin fluctuate lately it is really nothing bad, just wait a little longer and you will see how the price will recover.

They said 4 days ago, so day by day bitcoin was dump in the market and altcoins also follow the same way. I think market is turned in bad condition for this month and many peoples are buying the more crypto in bearish market. No one is said sharp price was fall in the market. So fluctuation is common in crypto market and anytime it is back to form in the market.

[marcbitcoins]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

To be honest this 300$ decrease in price looking at the time perspective is not small, but watching the price of Bitcoin fluctuate lately it is really nothing bad, just wait a little longer and you will see how the price will recover.

But the problem is how long we will gonna wait for the market to recover? That i think we have already waited long enough since January of this year and the worst scenario is there is no bullish market but only real demand in which $10,000 is already impossible for this year.

[Tapyaks72]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

To be honest this 300$ decrease in price looking at the time perspective is not small, but watching the price of Bitcoin fluctuate lately it is really nothing bad, just wait a little longer and you will see how the price will recover.

But the problem is how long we will gonna wait for the market to recover? That i think we have already waited long enough since January of this year and the worst scenario is there is no bullish market but only real demand in which $10,000 is already impossible for this year.

It isn't just the law of supply and demand but  also the world economy will also matters, there are lots countries suffered inflation in their country, investors is very hesitant to invest because of the economic situation everything is affected by inflation bitcoin as well.

[magneto]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

I wouldn't attribute this fall in price over the last few days to the SEC at all, or at least it's not the only reason why bitcoin prices have fell.

The biggest reason that I can think of is still the fact that the last rally was pretty unjustified, and thus ended up as a bull trap of sorts. It's definitely hard to see any bullishness coming out of the market with a sentiment that is currently this bearish, and it definitely makes sense for this correction to have happened rather than not.

Secondly, Goldman did announce previously that they will put their trading desk project on hiatus for now, which may have sent panic waves through the market, even though I'm not buying that story particularly. IMO, this dip offers up a great opportunity to accumulate.

[planton96]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

I wouldn't attribute this fall in price over the last few days to the SEC at all, or at least it's not the only reason why bitcoin prices have fell.

The biggest reason that I can think of is still the fact that the last rally was pretty unjustified, and thus ended up as a bull trap of sorts. It's definitely hard to see any bullishness coming out of the market with a sentiment that is currently this bearish, and it definitely makes sense for this correction to have happened rather than not.

Secondly, Goldman did announce previously that they will put their trading desk project on hiatus for now, which may have sent panic waves through the market, even though I'm not buying that story particularly. IMO, this dip offers up a great opportunity to accumulate.

I think the last week bitcoin and altcoin showed a green and stable move moving up slowly, but starting from yesterday they have fallen very large. I don't know what influenced the unstable crypto this year..

[fullhdpixel]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

It is a very volatile market; hence a sharp drop in price should always be expected and should not be a new thing. The demand for the market is low unless we want to keep lying to ourselves and one thing I am sure of, is that whales are leveraging on the fact that there are so many non-believers of the market with just the only sole aim of getting rich overnight, which gets them scared easily even at dumping at loss. In this vein, they move the market up, people aforementioned, started calling moon; the price could not go further and becomes weak, and then boom! It starts coming back down.

[creeps]

So, I thought the bitcoin's volatility attribute was being checked by the SEC and other world financial bodies, if so, why the sharp price fall that just happened in about an hour ago?

No one knows, we can just tell any reason why but I think this is more on the panicking newbies who sold their coin at a loss and also the price manipulation of every whales. This is the market now, we can go dumped easily so if you have a chance to take profit on your trading please do so. Investing in long term is quiet risky now, I hope we will rise again this year.