What is happening right now? (2018/10/15)

[posi]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

OMG, did you people start using bitcoin yesterday?
bitcoin price is the same as it was ever. and a rise is not a pump. right now you are looking at the price of bitcoin versus an altcoin and think that price is the value of bitcoin! that altcoin is called Tether not USD

check out Coinbase, Kraken, and other exchanges that are actually trading bitcoin with fiat. you can also check out exchanges that have other fiats such as Euro, CNY, JPY, ... they are all the same.

it is just that one altcoin (tether) that is falling in price.

I think the was marvel and he expect the price of bitcoin to continue to surge after gaining some slightly increase in price today. Concerning the USDT issues I think don't have much community support as before and I believe TUSD was the reign champion in the stable coin market this days.

[HeRetiK]

Seems like people are fleeing from USDT and are thus moving into BTC and some of the alts in case USDT turns out to be insolvent.

Not sure why everone is fleeing USDT right now however.

The price of tether was dropping since few days and today there was a rumor that Binance will delist tether. But this news was not accepted by Binance CEO.
https://twitter.com/cz_binance

That makes sense. I wasn't aware of these rumors so I wonder how big the impact really was. However I've never used Binance so maybe the rumours were bigger "news" than what I perceived (or rather: failed to perceive).

Not sure why everone is fleeing USDT right now however.

It doesn't look like it's fully backed anymore. It's trading at $0.96 a piece at the moment, according to CoinMarketCap.

I assumed that it's down at 0.96 USD because people are fleeing, but now that you mention it Tether should have been able to prop the price up regardless. Hoh boy.


Btw has anyone else noticed how USDC is trading at more than 8% above face value right now? Seems like the battle of the USD-backed stablecoins has begun.

[Larssoneos02]

Considering the volatile nature and the present condition of the market, it is safe to say that the sudden bump in the price of Bitcoin is nothing unnatural. This kind of bump is normal in the market and there is nothing to panic about.

[steampunkz]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

OMG, did you people start using bitcoin yesterday?
bitcoin price is the same as it was ever. and a rise is not a pump. right now you are looking at the price of bitcoin versus an altcoin and think that price is the value of bitcoin! that altcoin is called Tether not USD

check out Coinbase, Kraken, and other exchanges that are actually trading bitcoin with fiat. you can also check out exchanges that have other fiats such as Euro, CNY, JPY, ... they are all the same.

it is just that one altcoin (tether) that is falling in price.

I think the was marvel and he expect the price of bitcoin to continue to surge after gaining some slightly increase in price today. Concerning the USDT issues I think don't have much community support as before and I believe TUSD was the reign champion in the stable coin market this days.

Dont forget there also other who are gaining popularity right its Gemini USD many inventors are now joining in because of the security and insurance that the company promise for holders and investors like fixed price of the coin to all other cryptos.

[Getcoinsite]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Lol thats not happening in USD value,try to check coinmarketcap tthe more reliable about prices

And dont expect that $8,000 value this year because its more than impossible to happen,we will be engaging in this kind of bear for another couple of years so be aware and keep that in mind

[Herbert2020]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Lol thats not happening in USD value,try to check coinmarketcap tthe more reliable about prices

And dont expect that $8,000 value this year because its more than impossible to happen,we will be engaging in this kind of bear for another couple of years so be aware and keep that in mind

actually coinmarketcap.com is the least reliable source for checking prices if you want accuracy and more importantly at times like this when the market is in chaos mode and prices are all over the place just because they use Tether to report USD value of coins!
sites like bitcoinwisdom or better yet the exchanges themselves are more reliable.

as for the $8000, you don't know that for certain. it may or may not happen. but one thing is for sure he downside is not going to last long so don't wait for years

[keanne_isaac]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

What happen yesterday was a quick pump? not only for bitcoin but for  other major altcoins also and they suddenly back to their normal price after a sudden pump but one i have notice XRP are slowly moving up even the price of bitcoin are not moving up this is a good indication  that xrp may surge soon specially when BTC goes up again

[Kakmakr]

Here is my take on this :

~ The stock exchanges are taking a beating and investors are looking for safe havens and Bitcoin is seen as a safe haven.
~ The Fidelity announcement was positive news.
~ We are getting closer to the Bakkt cryptocurrency platform's launch.

All of this is causing some volatility in the market and it is going to become worst as we get closer to the Bakkt launch. Institutional capital is going to boost the price a lot, so people are getting ready for that. 

[kvipcn]

The crypto exchange market is very unique in how it works. The price of a crypto coin is usually determined by the last price at which the coin was bought. Linking this to the sudden increase in the price of bitcoin and the drop, if i buy 0.0001 BTC at a rate of 1 BTC for $8000 and that purchase is the last purchase within 2mins, the current price of bitcoin will be $8000. It is advisable to understand and know the Bitcoin market. This will provide you with the basic info needed to understand why the changes in the price of bitcoin. 

[Callanta787]

That's nothing new in crypto space ,I suspect it happened because of people dumping tether for bitcoin and sorry I never seen when bitcoin hits 7k in one hour but anyways everything seems stable to me right now, bull run is all we need not rise in price

[coinwizard_]

Small pumps are common, even throughout 2018 there have been small pumps, what we are waiting for is a prolonged bull run and one that is not related to tether

[tiggytomb]

It is quite funny when you see people talking about bitcoin being pumped with a 2% rise, back in the day it would swing high and low 20% as normal.

It was really has settled down this year which I believe is why we are now seeing a lot of people he big hugs taking it series usly as an investment.

[doodle07]

Small pumps are common, even throughout 2018 there have been small pumps, what we are waiting for is a prolonged bull run and one that is not related to tether

We just need to keep and hold our coins although its a tough year for crypto currencies especially on bitcoin yet we need to keep our faith burning, these fluctuations are just part of the story, at the end of this year it will be a green christmas for all of us who waited and stayed.

[Rashid555]

In crypto market rise and fall are most often in the start of this yeas and it is changing due to some news which is good or bad for crypto and it's acceptance issue while demand and supply also measures the prices of crypto in these days. if it reaches up to 20k then i will be happy because i have purchased bitcoin last year at 18k.

[Fredsaw]

Bitcoin has been the same as it has always been. As of right now you're looking at the price of Bitcoin compared to Altcoin and that Altcoin is called Tether not USD. So, the important thing to understand is to not jump to conclusions. The market is as always changing. being patient and calm is important right now because this is normal.

[shield132]

Herbert2020
You say that coinmarketcup isn't the source we have to trust but also consider that they have great power, once they removed some exchangers and it caused changing in bitcoin's price.

Kakmakr
Maybe you are right too, Bakkt is going to set new standards for cryptocurrency exchanges.
Personally I don't like that bitcoin is becoming so popular, that's bad. Many big exchangers and serious players in economics and businesses will try to take a control on it.

[Gavyn Pace]

Tether is a kind of altcoin which is an alternative of bitcoin. Also, the nature of crypto is always volatile and unpredictable, so sudden pumped up news isn't just an unexpected scenario but a random one.

[posi]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

OMG, did you people start using bitcoin yesterday?
bitcoin price is the same as it was ever. and a rise is not a pump. right now you are looking at the price of bitcoin versus an altcoin and think that price is the value of bitcoin! that altcoin is called Tether not USD

check out Coinbase, Kraken, and other exchanges that are actually trading bitcoin with fiat. you can also check out exchanges that have other fiats such as Euro, CNY, JPY, ... they are all the same.

it is just that one altcoin (tether) that is falling in price.

I think the was marvel and he expect the price of bitcoin to continue to surge after gaining some slightly increase in price today. Concerning the USDT issues I think don't have much community support as before and I believe TUSD was the reign champion in the stable coin market this days.

Dont forget there also other who are gaining popularity right its Gemini USD many inventors are now joining in because of the security and insurance that the company promise for holders and investors like fixed price of the coin to all other cryptos.

That's good to know but you must becareful because it not a good idea to buy or invest in a project base on the promises made by the team during their project ICO because we had a cases where some investors loose the investment simply because they rely on the team promises but ignore the utility part of the project.

[suzanne5223]

Today, we started with Bitcoin great pump like end of the 2017. Bitcoin almost %20 rised and reached almost 8K in 1 hour. Then, started the retreat again to 7K.

What is going on Bitcoin? Is it related with Tether? Tether has moved in last days. Can anyone explain?

Lol thats not happening in USD value,try to check coinmarketcap tthe more reliable about prices

And dont expect that $8,000 value this year because its more than impossible to happen,we will be engaging in this kind of bear for another couple of years so be aware and keep that in mind

You're definitely right about us not expecting the price of the bitcoin mark to reach $8000 price range which I agreed with you on that but I disagree with you when you said the cryptocurrency will engage in this kind of bear market for a couple of years and i believe the bear market will last for at least acouple of months next year.
Check 2016 market correction so you can prove me Right.

[RileyPeterson]

In this volatile market anything can happen anytime really. I am not surprised by this. I think it is quiet normal and it will become stable very soon.