Markets See Massive Sell-Off, Bitcoin Dips Below $5,600 for the First Time 2018

[Reid]

They are all dragged by bitcoin. 

USDT down? Nah. It is not true. Will never happen. It will just show a negative but it will still be 1:1 with USD.
You could look at it now and see the truth. You might see red with them in just seconds and it will just be back again.

Look at the Ticker of it. That says it all. But I am telling you. It will go down hard that they will never get their USDT back. 

[Biscutard]

I remember looking at the price of bitcoin in the market seems like someone was pushing the price to go down below and it just happen within a couple of minutes. While some of them are trying to panic sell but the market are still going down until it stop at $5500 then suddenly rose up again until $5700 and that's it, it goes down at $5500 again.
So for me it is just some kind of a manipulation in the market to let other follows too and let others to panic sell.

[alex_gr_cc]

I believe that this is a great opportunity to buy cryptocurrencies cheaper. New Year's sale. )) Those who believe in the cryptocurrency market do just that. But I would not be in a hurry to invest very actively now, as it is possible the market will fall even lower.

[cetald]

Everyone just started talking about market stabilization. And now we see a 15% drop. This is very alarming. I hope that those who are guilty of this bitcoin price drop know what they are doing. Many people after this will be even more afraid to buy cryptocurrencies.

[Harlot]

Everyone just started talking about market stabilization. And now we see a 15% drop. This is very alarming. I hope that those who are guilty of this bitcoin price drop know what they are doing. Many people after this will be even more afraid to buy cryptocurrencies.

I really don't think you can always blame someone for every drop BTC has made, remember that it is not their fault for being a whale in the market and buying and selling all have there good and bad effects. But of course if BTC has dropped this far I don't think that anyone who already sold and bought back again will have plans to drop it any further not unless they are gonna short BTC again. This is just one of those market cycles where it is really testing a lot of traders as even the unexpected is happening in the market.

[The Sceptical Chymist]

Even USDT is down. This must be in connection with the stock market crash

What stock market crash are you talking about?  Certainly the US markets haven't crashed--the Dow is still above 25,000 and the NASDAQ is at 7259 as I write this.  Those levels are as high as I've seen them since I started my career as a stock market junkie in 1998.  Yes, there has been a bit of a dip, but there's hardly been a crash.

I believe that this is a great opportunity to buy cryptocurrencies cheaper. New Year's sale. )) Those who believe in the cryptocurrency market do just that. But I would not be in a hurry to invest very actively now, as it is possible the market will fall even lower.

I agree with both of those thoughts.  If you think this is just a temporary dip, it could be a very good buying opportunity.  But you're absolutely right, it is certainly possible that bitcoin (and altcoins) could go even lower.  Nobody knows.  On the other hand, I don't think this is anything to worry much about.  Bitcoin has a long history of being extremely volatile and of 10% (or more) drops in very short periods of time.  There hasn't been any bad news that's come out which would suggest that bitcoin is going to fall even further, so I'm of the opinion that this represents a better price to get into bitcoin at. 

Everyone just started talking about market stabilization. And now we see a 15% drop. This is very alarming. I hope that those who are guilty of this bitcoin price drop know what they are doing. Many people after this will be even more afraid to buy cryptocurrencies.

Oh come on.  I don't think many bitcoin investors actually want the price to be stable.  The more stable it gets, the harder it gets to make money from it. 

Also, you say you're alarmed, which makes me think you haven't been around crypto all that long.  This sort of crap happens a lot--it just hasn't happened in a few months. 

And as for the "guilty" parties, they'll never be known and shouldn't be blamed anyway.  This is how the free market works.

[tenebriscaelum]

Well, another brighter perspective to this is that a lot are waiting for the dips to have an entry level. A colleague still mentioned to me that he is waiting for Ethereum to dip to 150$ so he can buy up to 5units worth and later do a sell off later. So, the market dips not necessarily meaning poor market but could create openings for Investors to come in too.

That is true in an investors and traders perspective has having a large dip in certain market situations does provide good opportunities, but so does risks because if the market still does goes down in the next few weeks to come the position of these investors and traders when they make a long offer will take time to gain some profits.

[pixie85]

despite there being no bad news, no FUD, and the possibility of BAKKT and ETF.  

You know, people are getting tired of waiting for stuff and the ETF and BAKKT are starting to look some as a mirage.
And honestly, what is so great about BAKKT?
If big investors would have wanted to get onboard they already have hundred of possibilities to do so already.

Even USDT is down. This must be in connection with the stock market crash and dollar gaining value. I see no other explanation for every coin including stablecoins

Crash? What stock market crash? 3-4%? That's no crash, look at the 1m/3m/6m graph and the crash suddenly disappears...
Stable coins are going down because there is a precedent, people are afraid of storing value n those crapcoins backed by a shady exchange with a shady location and a shady bank and some shady accountants
Tether will be history and I'll be one of the first that will cheer up when it happens.
It's a monstrosity that should have never existed in the first place, not it and not the others.

https://www.nasdaq.com/markets/crude-oil-brent.aspx
Just one of many examples. Oil prices went down from 86 to 66 USD in a month. If you look at Bitcoin 1d chart, this recent leg down looks tiny compared to the ones from December and January, but people are panicking and calling it a crash. Bitcoin was stable for 2 months, then it lost 10% and people are panicking, and it's just a market worth as much as Amazon. If Jeff Bezos sold his house and invested, he'd be able to pump Bitcoin back above 6000. Try to do the same with oil prices.

[eternalgloom]

I honestly just see a great opportunity to buy again, these past months have been excellent for trading.
The drop is a little bit bigger than we were used to, especially in these past couple of months, but it's not a reason to panic.

I know that I'm still in it for the long haul and that I've seen this exact scenario play out many times before.
Now, if I was planning on cashing a little bit out, I'd probably be more bummed than I am now.

[creeps]

What is really happening in the market as some people are saying the hardfork of bitcoin cash is the cause of this massive sell off. I read some news are analysis and some people are saying the news by coinbase is what is causing this massive drop.  I hope that bitcoin should be able to get above $6,000 before end of this.

We should not be on this position again, this is really unexpected and for whatever reason hopefully bitcoin will bounce back and end this year on a great price. The market keeps on dumping after a month of a stable price, now people are panicking again which contribute a lot to dump the market.

I am more worried about the fall of ETH. Now it has slipped to third place (in terms of market capitalization), behind both Bitcoin and Ripple. And I am actually worried that XRP is not falling as much as ETH.

Yeah, because of this recent dump, ETH was replaced by XRP on top. My portfolio is hurting much but we must stay focus and do the right thing, don’t sold your coin at a cheaper price have your patience, we can survive on this.

[andika2018]

This week, market cap value decrease more than $25billions and its more than 10% in just one day. I am believe there is panic in market and makes peoples selling their coin below $6000. Its sad to see most coin and token price drop but i do believe it will bounce back

[Spaffin]

Well, it is quite possible that the cryptocurrency market will begin to recover only in the second quarter of next year. Now there is practically no activity on it, and besides, instead of traditional growth, it is now showing a decent fall. If the cryptocurrency does not rise now, it will cause a new wave of frustration for cryptocurrency owners and investors, and this will prolong the stagnation period for a long time.

[Kakmakr]

The recent events that unfolded really is a shocker, and no one really anticipated a flash crash since almost everyone thought that it would just be a sideways market until 2019, but how wrong were we to not count the guys working to get the upper hand on the BCH fork mess to do some dick move and make the market crash intentionally just to tell everyone that he has the bigger dick. Anyway though, still have high hopes for bitcoin since it's going so strong and so well up until this point.

I just wouldn't want to hear or read any overly-optimistic predictions right now since they are really improbable to happen in the short-term.

Let me honour your request then, because I am very optimistic. 

A lot of traders have sold some Bitcoin <BTC> prior to Bitcoin Cash fork to cash in on some free <fork> coins. Those people will buy back those coins and even use the proceeds from selling those free coins to buy back the bitcoins that they have sold. 

Just give them some time to complete all these transactions and you will see a recovery in the price. A lot of Bitcoin Cash supporters might also be pissed off by the drama that occurred with this fork and they might sell their Bitcoin Cash to buy some real Bitcoin <BTC>

[cindygirl]

Even USDT is down. This must be in connection with the stock market crash and dollar gaining value. I see no other explanation for every coin including stablecoins moving down in value despite there being no bad news, no FUD, and the possibility of BAKKT and ETF. When nobody knows what's going on it looks staged and manipulated, but let's give them time to make something up.

Tether being down is easy to figure out. Mass amounts of people and funds are leaving the market. They transition from BTC/ALTS in to tether and then they need to sell their tether. Because so many people are selling their tether the price falls just like any other coin.

  Crypto and ALTCOIN are bleeding as the market drops to unexpected low, when everyone are looking forward for the good news on the last quarter but it is the other way around...Market Volatility really teach us something... always be prepared for something unpredictable on the market, be patient protect your investment, make a sound decision if you need, but never panic, review all the data you have before making such move.. hold on be more patient....

Well, it's easy to say don't panic but in reality it's really hard to control. Afraid to lose more especially if we are talking about a grand, and we can't control them. Still, this is already happened and it's not a surprise because this is what can volatility do. Always giving us surprises and unexpected situation.

If you're finding that you can not control your hysteria then you've likely invested too much or you've got the wrong outlook on investing. Risk is every present and you at all times need to be acceptant of the fact that you could lose everything you have invested in a moments notice.

[blackhawkeye1912]

Cryprocurrency market was hit again by its unpredictability. Before November 14, I thought the market was preparing for the bullish market. Then, this sharp drop happened. All of a sudden, we're back to the lowest price of 2018 again.

[shadyrifles]

Nov. 14: Crypto markets have suffered sharp losses over the past several hours. The major market drop off took place between 10:30 a.m. (UTC -5) and 12:00 p.m., with some of the top 20 cryptocurrencies dropping by as much as 18 percent at press time, according to data from CoinMarketCap.

According to data from Bitcointicker, after 11:00 a.m. (UTC -5) Bitcoin dropped below the $5,600  price point for the first time in 2018, sinking further to as low as $5,506 at around 2:00PM. Bitcoin is now down around 11 percent on the day, trading at $5,612 at press time.

The recent movement of the market was predicted by a number of industry experts, who also suggest that the bear market would last beyond this year. Technical expert Willy Woo, founder of data webstie Woobull, has recently predicted that the bear market end may end “around Q2 2019,” based on “putting together the blockchain view:”

    “After that we start the true accumulation band, only after that, do we start a long grind upwards.”

Earlier this year, crypto investor and founder of Galaxy Investment Partners Mike Novogratz predicted that Bitcoin will not manage to break $10,000 by the end of 2018, claiming that reverse of the trend will take place by Q2 in 2019, when the industry will get more institutional involvement.


Reference: https://cointelegraph.com/news/markets-see-massive-selloff-bitcoin-dips-below-5-600-for-the-first-time-in-2018

The bitcoin price is 70% down from the highest while other major cryptocurrencies like Ethereum (ETH) and Ripple (XRP) are 80% down. The major coin has felt below the psychological $6000 mark for just the second time this year. Earlier, Bitcoin dipped to $5534 on the Luxembourg-based Bitstamp exchange, Today the bitcoin price indicator known as the "death cross" and it is visible again for the first time since December 2014.

[cryptocrusher]

I have suspected for a while that it was too soon to start any real bullish momentum but I did not expect such a dip as this. I will be following closely and waiting to find out the real reason for the dip, right now it seems mostly that people believe it's either because of BCH fork or because of miners being shut down in China or because of new ASICs being tested. Either way all of those reasons go back to hash power. To me that seems quite feasible because mostly it's been large sell orders instead of lots of smaller orders which is more synonymous with market panic.

This is also what I have heard a news that having a BCH fork and I don't think if that will affect the whole crypto market. I'm still searching now on what is the mean reason of a massive drop by cryptocurrency market. All price dropped too much, but besides, I didn't worry about this because I know it will raise up again soon. However, it is the right time to buy while the market is on sale price and it is very cheap.

It's not as simple as because BCH had a fork, it's because of the people involved and the war they are now having, it steals away mining power from bitcoin. If that's prolonged over several months it will be a big negative. Couple that with the fact these big guys have to sell their bitcoin holdings to fund the war they're having.

[Adhichan]

I have suspected for a while that it was too soon to start any real bullish momentum but I did not expect such a dip as this. I will be following closely and waiting to find out the real reason for the dip, right now it seems mostly that people believe it's either because of BCH fork or because of miners being shut down in China or because of new ASICs being tested. Either way all of those reasons go back to hash power. To me that seems quite feasible because mostly it's been large sell orders instead of lots of smaller orders which is more synonymous with market panic.

This is also what I have heard a news that having a BCH fork and I don't think if that will affect the whole crypto market. I'm still searching now on what is the mean reason of a massive drop by cryptocurrency market. All price dropped too much, but besides, I didn't worry about this because I know it will raise up again soon. However, it is the right time to buy while the market is on sale price and it is very cheap.

It's not as simple as because BCH had a fork, it's because of the people involved and the war they are now having, it steals away mining power from bitcoin. If that's prolonged over several months it will be a big negative. Couple that with the fact these big guys have to sell their bitcoin holdings to fund the war they're having.

bitcoin get the negative effect form BCH supporter.and this is not good and could make bitcoin panic.it proved on bitcoin price right now.and we hope BAKKT trading launched could be solution for bitcoin price at this moment.

[niteroy]

I agree with the statement of Mike Novogratz that the rise in prices in the entire crypto market will start no earlier than Q2 2019, when the industry will get more institutional influence. After that, an optimistic mood among people should appear and an interest in cryptocurrencies that will push Bitcoin and other cryptocurrencies up.

[chairmanMao]

Don't be too pessimistic, the cryptocurrency market is still immature. The decline at this time is related to the competition between the two major mines. When the war subsides, the cryptocurrency will gradually rise. This is the best way for investors to wait patiently.