What is happening?

[arpon11]

$13billions has just been wiped off of cryptocurrencies market and bitcoin has loss about $700 in just around 4 hour.  I will like to ask the expect here what is really happening?  I believe that for the last seven months bitcoin has not gone down like e this and bitcoin is the most hit.  Ethereum has seriously getting dumped too.  Are we heading towards $3000 as speculated by some of us here or bitcoin is going to recover around $5200.
What is the next step to take? Your advice is highly appreciated.

[rokkyroad]

Don't panic. Bitcoin faces impending doom every year. Wait for it to settle down and then buy. Flash crash =  easy money.

[blockman]

Man, I was away and sleeping while this happened. I've been looking for any news but until now I haven't found with any reliable source too.

But there's one article about this right now.

https://www.cryptoground.com/a/cryptocurrency-market-crash-14-november-2018

I'm not sure if there's a connection with  BCH hard fork.

[cryptokwuk]

Not so much with the BCH fork, but with the BCH team yes.
They have announced to once again attempt to overtake Bitcoin from from the top.

Considering they have at least 200k-300k BTC to dump, and this was less than 10% total (of which many is just others panicing as a result), expect a bloodbath and prices to revisit 2014.

[The Sceptical Chymist]

Man, I was away and sleeping while this happened.

I wasn't sleeping, but I hadn't been paying attention to bitcoin's price--and yikes, that's one hell of a drop!  But I agree with this:

Don't panic. Bitcoin faces impending doom every year. Wait for it to settle down and then buy. Flash crash =  easy money.

We've seen bitcoin prices jump up and down with higher and lower amplitudes than this.  From that article you posted (which doesn't provide much in the way of an explanation--not surprising), it looks like people are just cashing out any profits they made or are expecting a further drop in price.  Who knows.  I don't know much about stablecoins--I'll have to look into that--but it sounds like investors are doing the equivalent of selling bitcoin for cash, much like stock market investors do when they think the market has gotten too high.

I'm not sure if there's a connection with  BCH hard fork.

Eh, could be.  But when large price fluctuations like this happen, I usually find that the explanations are always elusive and that speculating about price movements that already occurred isn't worth the mental energy.

[pixie85]

Not so much with the BCH fork, but with the BCH team yes.
They have announced to once again attempt to overtake Bitcoin from from the top.

Considering they have at least 200k-300k BTC to dump, and this was less than 10% total (of which many is just others panicing as a result), expect a bloodbath and prices to revisit 2014.

You can stop dreaming already, it will save you from disappointment. Bitcoin's long term trendline is far above 1000 dollars, above the highest point in 2013 and 2014. We won't see this ever again as long as Bitcoin exists and works. If somebody one day finds a way to hack blockchain or disable it somehow you can expect 1000 again, but I wouldn't count on that.

If it's all about BCH shouldn't its value be rising? From what I'm seeing BCH is tanking just like Bitcoin.

[dothebeats]

I'd like to think that this has something to do with Jihan Wu losing executive power on BITMAIN or the 'hash wars' happening right now between Wright and Ver on BCH, but that's a different story. Considering that the BCH team has some BTC still on their arsenal, this could be a materialization of that petty control problem over the hard fork. Anyway though, shouldn't Craig Wright be jailed due to the recent regulations pertaining to manipulation if this is indeed true?

[xIIImaL]

$13billions has just been wiped off of cryptocurrencies market and bitcoin has loss about $700 in just around 4 hour.  I will like to ask the expect here what is really happening?  I believe that for the last seven months bitcoin has not gone down like e this and bitcoin is the most hit.  Ethereum has seriously getting dumped too.  Are we heading towards $3000 as speculated by some of us here or bitcoin is going to recover around $5200.
What is the next step to take? Your advice is highly appreciated.

All the coins are dumped in 10 percentage and more so many peoples are really afraid in this situation. But we don't know this will move forward or backward in future so try to think positive response is the good motive. I expect we will see opposite result in all the cryptocurrency so don't be panic in this situation because this is the right time to invest in cryptocurrency.

[fabiorem]

Doctor Craig Wright is dumping his one million coins, that is what is happening.

He is not Satoshi, but Satoshi (Dave Kleiman) holded these coins for him during some time, according to a document.

This dump is in concert with the release of BAKKT, which will happen in December. The bankers will be buying his coins.

We will dive fast to $4888 and even lower. It will be a tough ride.

[Herbert2020]

in one word: manipulation.

and the manipulators always love situations like this. only those who aren't active traders are always surprised by these things otherwise others are quite happy at the moment with their shorts, their low bid buy orders and all the other things they are pulling in the current situation to make profit from a market that was completely stable and without any profit for a while.

Doctor Craig Wright is dumping his one million coins, that is what is happening.
He is not Satoshi, but Satoshi (Dave Kleiman) holded these coins for him during some time, according to a document.

you are probably one of those people who believes the Nigerian prince stories and give them your private information too

[kumiskura]

Doctor Craig Wright is dumping his one million coins, that is what is happening.

He is not Satoshi, but Satoshi (Dave Kleiman) holded these coins for him during some time, according to a document.

This dump is in concert with the release of BAKKT, which will happen in December. The bankers will be buying his coins.

We will dive fast to $4888 and even lower. It will be a tough ride.

wait what ? so satoshi is Dave ?
no wonder i heard a news about satoshi is dead, it might be due to this rumour.

in one word: manipulation.

and the manipulators always love situations like this. only those who aren't active traders are always surprised by these things otherwise others are quite happy at the moment with their shorts, their low bid buy orders and all the other things they are pulling in the current situation to make profit from a market that was completely stable and without any profit for a while.

Doctor Craig Wright is dumping his one million coins, that is what is happening.
He is not Satoshi, but Satoshi (Dave Kleiman) holded these coins for him during some time, according to a document.

you are probably one of those people who believes the Nigerian prince stories and give them your private information too

Personally i think it was more like a confusion instead of manipulation, because they gave a false information to many peoples using medias.
that was why they created a fear inside of their heart and telling them that Bitcoin will not survive because of this.
(hash power,dump and many more).

[davis196]

According to Brian Kelly,the "noob army" stated panic selling BTC because of the "Crypto civil war" inside BCH.
This triggered a lot of stop loss orders,which leads to a bearish "showball" effect.Anyway,this will be only short term,there's no reason for panic,but I think that the bull trend won't come soon.

[Tapyaks72]

Doctor Craig Wright is dumping his one million coins, that is what is happening.

He is not Satoshi, but Satoshi (Dave Kleiman) holded these coins for him during some time, according to a document.

This dump is in concert with the release of BAKKT, which will happen in December. The bankers will be buying his coins.

We will dive fast to $4888 and even lower. It will be a tough ride.

wait what ? so satoshi is Dave ?
no wonder i heard a news about satoshi is dead, it might be due to this rumour.

in one word: manipulation.

and the manipulators always love situations like this. only those who aren't active traders are always surprised by these things otherwise others are quite happy at the moment with their shorts, their low bid buy orders and all the other things they are pulling in the current situation to make profit from a market that was completely stable and without any profit for a while.

Doctor Craig Wright is dumping his one million coins, that is what is happening.
He is not Satoshi, but Satoshi (Dave Kleiman) holded these coins for him during some time, according to a document.

you are probably one of those people who believes the Nigerian prince stories and give them your private information too

Personally i think it was more like a confusion instead of manipulation, because they gave a false information to many peoples using medias.
that was why they created a fear inside of their heart and telling them that Bitcoin will not survive because of this.
(hash power,dump and many more).
[/quote
The might be a confusion as it seems because as many as expected to have a bull run but nothing happens and more likely panic of some weak hands set in, but as all we know for what bitcoin can do just hold on.

[Herbert2020]

Personally i think it was more like a confusion instead of manipulation, because they gave a false information to many peoples using medias.
that was why they created a fear inside of their heart and telling them that Bitcoin will not survive because of this.
(hash power,dump and many more).

how can people be confused about something that is perfectly clear? it is an altcoin that is being forked and they have always been clear about it. they never said "fork bitcoin" they said "fork bitcoin cash". it doesn't get any clearer.

by the way the FUD i am talking about is the FUD that has been circulating for a while and was started by Craig Wright himself when he started saying he will sell 1 million bitcoin to crash bitcoin price! as you can see he did nothing of sorts not just because he can't but he doesn't want to. i am sure he h as been buying bitcoin in the past 24 hours.

[suzanne5223]

$13billions has just been wiped off of cryptocurrencies market and bitcoin has loss about $700 in just around 4 hour.  I will like to ask the expect here what is really happening?  I believe that for the last seven months bitcoin has not gone down like e this and bitcoin is the most hit.  Ethereum has seriously getting dumped too.  Are we heading towards $3000 as speculated by some of us here or bitcoin is going to recover around $5200.
What is the next step to take? Your advice is highly appreciated.

Due to the fundamental analysis of the those years when crypto market correction occurred, the crypto currency is yet to reach the bottom and what happen is that people usually spend some of their when it Nov/Dec. However, I have said so many times but so people said we cant use fundamental analysis to predict this current market and the next step i buying dip.

[Capt00]

I'm not an expert in speculation and yet I also don't know what is the main reason for this drastically down, I didn't really check the crypto price now, when I open my account here I noticed that some people here asking what happen to the market why to a huge drop. But I didn't surprise on this and get panic selling, I know that after this facing downfall there's an opposite side which is the bull run that possibly happens at the end of this year. So, if I were you I'll keep holding mine crypto assets and forgot the market for a while. However, it is the good time to invest more in Bitcoin,

[harizen]

 Are we heading towards $3000 as speculated by some of us here or bitcoin is going to recover around $5200.
What is the next step to take? Your advice is highly appreciated.

If you are used to this kind of dumping scheme, then stay on your usual way of dealing on it.

You will read lots of analyzation that will gave you confusion on what to do so I suggest that a) if your purpose is to hodl for long, then disregard the current trend b) if you want to dump, it's up to you but you must have a good reason why will you do that.

Not a friendly advice, but in my case, I really don't care for what is happening now. My coins are idle and just sleeping as usual. If doomed, then doomed. If not, then good. That's how Im facing the risks.

You have the ability to understand what's currently going on just by reading.

[peter0425]

$13billions has just been wiped off of cryptocurrencies market and bitcoin has loss about $700 in just around 4 hour.  I will like to ask the expect here what is really happening?  I believe that for the last seven months bitcoin has not gone down like e this and bitcoin is the most hit.  

I think the picture is clearer now. It looks like bitcoin cash is having a hashing war between Bitcoin Cash ABC and Bitcoin SV. So because of this uncertainty and some big actors tends to be nervous and might have decided to make a sell-off causing panic.

Are we heading towards $3000 as speculated by some of us here or bitcoin is going to recover around $5200.
What is the next step to take? Your advice is highly appreciated.

No, I don't think that we're heading to $3K. We just need to wait and see what happens after the Bitcoin Cash fork and Craig Wright's SV. Probably just a couple of days an we're back to $6K levels again.

[Slow death]

Not so much with the BCH fork, but with the BCH team yes.

faketoshi was the only one that I saw who came to threaten people:

https://twitter.com/ProfFaustus/status/1062751765601361923



faketoshi is a big danger to the crypto world

Considering they have at least 200k-300k BTC to dump, and this was less than 10% total (of which many is just others panicing as a result), expect a bloodbath and prices to revisit 2014.

the price may fall, but we can not exaggerate and say that we will see prices of 2014

What is the next step to take? Your advice is highly appreciated.

The price will recover back to $ 6500, we may see low prices, but it will recover

[figmentofmyass]

$13billions has just been wiped off of cryptocurrencies market and bitcoin has loss about $700 in just around 4 hour.  I will like to ask the expect here what is really happening?  I believe that for the last seven months bitcoin has not gone down like e this and bitcoin is the most hit.  Ethereum has seriously getting dumped too.  Are we heading towards $3000 as speculated by some of us here or bitcoin is going to recover around $5200.
What is the next step to take? Your advice is highly appreciated.

$3000 seems pretty logical. if the current bounce ends as a lower high and the dump continues, we should form a pretty strong bearish trend. $3k is a major support level from 2017. lots of bulls will be waiting to buy there.

i'm not totally convinced this is about to crash, but it looks quite grim. we've got 3 hours to see how the daily candle closes. if bulls can close it above $5600, there's still a chance this is a shakeout.