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Author Topic: Bitcoin plummeted, the red was flooding the market.  (Read 160 times)
lamthanh3462342
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October 11, 2018, 11:19:31 AM
 #1

Bitcoin plunged, breaking the $ 6550 level, but not in a good direction, the BTC / USD plunged, dropping $ 342 in just 35 minutes.
https://i.imgur.com/kSdFdCT.png
Electronic money analysts have predicted that bitcoin prices are about to break from the price of $6550 , and those projections become real early today. Unfortunately for investors , the motion has not happened to the good afternoon. This is completely contrary to the hope of breaking the $6k8 threshold to reach a short - term increase.
After a brief hike to $ 6,700 in the week. Bitcoins are stable between $ 6,550 and $ 6,600 today. However, not long before 1:00 UTC, BTC/USD fell from $ 6,594 to $ 6,252 in just 35 minutes. Bitcoin is priced at $ 6,288 on Bitfinex, down about 5%.
I wonder if this reduction will make investors more worried about Bitcoin in the future as the market continues to fall?
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October 11, 2018, 11:34:01 AM
 #2

Seems John McAfee will eat his cock on TV after all...
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October 11, 2018, 12:08:32 PM
 #3

That drop goes in hand with a drop in the stock market, it seems investors are scared of a crisis and are selling assets. The only positive side of it is that bitcoin has the smallest drop among the top currencies at coinmarketcap.
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October 11, 2018, 12:08:53 PM
 #4

Electronic money analysts have predicted that bitcoin prices are about to break from the price of $6550 , and those projections become real early today.

people who were saying this in the past couple of days have the same level of understanding (or lack of understanding) of the market as the people who are saying bitcoin "plummeted" today.

as the real "experts and analysts" have been saying price is not moving in any directions and there is no signal whatsoever. all we have is a stable price. and stability for bitcoin means fluctuations that are smaller than a certain percentage and so far they are in that range.
this means there is nothing to be excited about when there is a tiny rise and there is nothing to be scared of when there is a tiny drop as long as we are still in the same price range. this range is starting from about $5900 and continues to $7200

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October 11, 2018, 12:13:38 PM
 #5

Seems John McAfee will eat his cock on TV after all...

Seems like it, but apparently he adjusted the date of his predictions. At this point in time, would you really believe anything that McAfee states regarding cryptocurrencies?

Bitcoin plunged, breaking the $ 6550 level, but not in a good direction, the BTC / USD plunged, dropping $ 342 in just 35 minutes.

Electronic money analysts have predicted that bitcoin prices are about to break from the price of $6550 , and those projections become real early today. Unfortunately for investors , the motion has not happened to the good afternoon. This is completely contrary to the hope of breaking the $6k8 threshold to reach a short - term increase.
After a brief hike to $ 6,700 in the week. Bitcoins are stable between $ 6,550 and $ 6,600 today. However, not long before 1:00 UTC, BTC/USD fell from $ 6,594 to $ 6,252 in just 35 minutes. Bitcoin is priced at $ 6,288 on Bitfinex, down about 5%.
I wonder if this reduction will make investors more worried about Bitcoin in the future as the market continues to fall?

Some investors could have cashed their bitcoins out to offset some of the losses they incurred after a slight decline in the Dow. Or perhaps, they just wanted to cash out after the long stagnation of the price between $6550-$6600. There isn't a huge reason for the price to move that much and with all the months this has happened, I don't think it is somewhat special anymore.

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October 11, 2018, 01:07:34 PM
 #6

Some investors could have cashed their bitcoins out to offset some of the losses they incurred after a slight decline in the Dow.

I am surprised that Bitcoin has fallen after Dow. Last time crypto fall was just before stock market fall...
However, while we are used with bigger fluctuations on crypto markets, the stock markets don't change that much in a day, 4% is not a slight decline....

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October 11, 2018, 01:10:49 PM
 #7

As always, we were painted red while waiting for the rise. I hope this is the last. If the market can make this crisis one, we'il be relieved.

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October 11, 2018, 01:36:05 PM
 #8

Some investors could have cashed their bitcoins out to offset some of the losses they incurred after a slight decline in the Dow.
However, while we are used with bigger fluctuations on crypto markets, the stock markets don't change that much in a day, 4% is not a slight decline....
The media isn't even helping matters with the reports. The slight crash (for me) was reported earlier today as if it were the dead bell for bitcoin. Come on, the coin only lost $300. Why make it look like it went down to $300. Honestly, I had thought the politics around the ETF would've even dragged it below the $4000 range.

WTF!


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October 11, 2018, 01:58:43 PM
 #9

This does not matter to me anymore, it's so familiar to me this year. Market is expected to slow down you slowly enjoy this meal

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October 11, 2018, 02:01:19 PM
 #10

Bitcoin plunged, breaking the $ 6550 level, but not in a good direction, the BTC / USD plunged, dropping $ 342 in just 35 minutes.

Electronic money analysts have predicted that bitcoin prices are about to break from the price of $6550 , and those projections become real early today. Unfortunately for investors , the motion has not happened to the good afternoon. This is completely contrary to the hope of breaking the $6k8 threshold to reach a short - term increase.
After a brief hike to $ 6,700 in the week. Bitcoins are stable between $ 6,550 and $ 6,600 today. However, not long before 1:00 UTC, BTC/USD fell from $ 6,594 to $ 6,252 in just 35 minutes. Bitcoin is priced at $ 6,288 on Bitfinex, down about 5%.
I wonder if this reduction will make investors more worried about Bitcoin in the future as the market continues to fall?

I don't know if we may see below $6000 Bitcoin price but I know that it will always return and make people relieve again. While other person are in stress and selling now.


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October 11, 2018, 02:02:43 PM
 #11

That drop goes in hand with a drop in the stock market, it seems investors are scared of a crisis and are selling assets. The only positive side of it is that bitcoin has the smallest drop among the top currencies at coinmarketcap.

Exactly, the drop coincides with the fall of not just in the US but all over the world (EU and Asian stock market). So it initiated from Wall Street, trickling down, even oil future is down as well. I agree that investors might be anticipating a global crisis so we shouldn't be surprised by the drastic down trend today. But if you look at the price movement, alts suffered more than bitcoin, meaning there's a continue trend of re-shifting their money and probably moving their funds to bitcoin that's why the drop is just < 5%.

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October 11, 2018, 02:26:00 PM
 #12

I believe it will not drop below $ 6000. I do not worry about this issue, I'm trying to buy more bitcoin. I believe the price will rise tomorrow and I will start to profit from it. This is not the sharpest decline I have ever seen, and it will definitely increase again.

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October 11, 2018, 03:37:50 PM
 #13

The US Securities and Exchange Commission (SEC) has ruined the profits Bitcoin has made in recent years. The regulator has delayed its decision on the Bitcoin ETF proposed by the VanEck SolidX Bitcoin Trust. Bitcoin prices immediately dropped 11% after the news came out
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October 11, 2018, 03:40:52 PM
 #14

As bitcoin has dropped, all other cryptocurrencies have also followed it and dropped sharply. The price of altcoins mostly depends on bitcoin, when it drops all other altcoins have also drops and when it increases all other coins has also increases.

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October 11, 2018, 04:12:04 PM
 #15

for some reason I feel like the market conditions this year there are people who manipulate so that cryptocurrency prices remain stuck like this. not too up or down. the price can recover, but it doesn't last long and then falls again

Seems John McAfee will eat his cock on TV after all...

Yep, no doubt

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October 11, 2018, 04:21:43 PM
 #16

Bitcoin plunged, breaking the $ 6550 level, but not in a good direction, the BTC / USD plunged, dropping $ 342 in just 35 minutes.

Electronic money analysts have predicted that bitcoin prices are about to break from the price of $6550 , and those projections become real early today. Unfortunately for investors , the motion has not happened to the good afternoon. This is completely contrary to the hope of breaking the $6k8 threshold to reach a short - term increase.
After a brief hike to $ 6,700 in the week. Bitcoins are stable between $ 6,550 and $ 6,600 today. However, not long before 1:00 UTC, BTC/USD fell from $ 6,594 to $ 6,252 in just 35 minutes. Bitcoin is priced at $ 6,288 on Bitfinex, down about 5%.
I wonder if this reduction will make investors more worried about Bitcoin in the future as the market continues to fall?

Yes, nerves he botched today many. But note that bitcoin has not broken the lower boundary of the triangle, and still be in it. Therefore, in my opinion, now the price should rise to the level of 6479 and further correction will be possible again.
Again, as will now operate the media. What news they will bring us.

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October 11, 2018, 04:28:41 PM
 #17

In fact, I expect a decline in prices in all markets, and so that bitcoin can find the lowest price point, if bitcoin has found the lowest point then there is a possibility that in the future bitcoin can touch a fantastic price and possibly touch 1 million dollars per 1 BTC ..

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October 11, 2018, 04:51:38 PM
 #18

That drop goes in hand with a drop in the stock market, it seems investors are scared of a crisis and are selling assets. The only positive side of it is that bitcoin has the smallest drop among the top currencies at coinmarketcap.

Its been always a trend that when market drops prices bitcoins domination grows,things that make altcoin more devalued

But we have the same thought that the stock markets movements makes the investors withdrawing to lessen the possibilities of losing their capital,things that happened how many times this year alone

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October 11, 2018, 04:55:24 PM
 #19

Red is what we are seeing. The market has moved up quite fast and stopped an extended position, so many investors started selling Bitcoin that made it significant fluctuations. But it opens up opportunities for other investors so do not worry about anything because the market will soon return.

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October 11, 2018, 05:01:11 PM
 #20

If it went down that fast, it's probably going to go back up soon enough.

It's all short term noise anyway. The long term price is always increasing. This is nothing but a blip (although I would recommend not spending any bitcoin on dollar-denominated terms until this changes).
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