BTC Mysterious instant drop?

[Coinifyx]

What caused this? How can the price be so volatile? Who is behind the market for real?

[shinharu10282016]

What caused this? How can the price be so volatile? Who is behind the market for real?

Are you new here good sir? This is not mysterious at all since there are alot of people who are really like dumping prices like this so people can buy at dips.

Here is a good read: https://www.forbes.com/sites/billybambrough/2019/01/10/bitcoin-falls-suddenly-dragging-ripple-xrp-and-ethereum-down-but-tron-leaps-higher/#585102cf27df

15% of almost crypto prices went down.

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

[KingScorpio]

What caused this? How can the price be so volatile? Who is behind the market for real?

bitcoin is simply just an act manipulated by few big whales out of that these types of pump and dumps or stairs appear.

[nydiacaskey01]

I am not surprised to see the price of Bitcoin suddenly drop from $4,000 to $3,600 or almost 10% in a day. I expect this to happen every weekend so its not new. Expect the price to go down further in the next few days until Monday. But, prepare for more dips and drops because Chinese Lunar New Year is just around the corner. Usually price drops before the event and picks up right after.

[arnelandvik]

omg, the rate is getting worse and worse, don't even know what to expect

[BitMaxz]

For now, I don't see any reason why the price drop an instant. I searched on google and news or even the market analyst of eToro (Mati Greenspan) doesn't know what is the reason behind the price drop.

Just like the above said I think there is a big group of whales who sold a bit of bitcoin just to play the market.

I have read some articles that the price will drop until $3.5k and there is solid support at this level. Let's hope that it won't drop too much because I'm expecting improvement in the price this year.

[ralle14]

The price dropped frequently last December and until now you're still surprised. The price is volatile because Bitcoin is being traded all the time. The exchanges have whales who can easily move the price whenever they want to. It's just another day in the Bitcoin world nothing new here.

omg, the rate is getting worse and worse, don't even know what to expect

It's not getting worse last month the price was low as $3.2k.  It's like going back two weeks from now.

Let's hope that it won't drop too much because I'm expecting improvement in the price this year.

I'm expecting the other way around as much as I want to see the price recover we could go down even further.

[alexey14]

What caused this? How can the price be so volatile? Who is behind the market for real?

Are you new here good sir? This is not mysterious at all since there are alot of people who are really like dumping prices like this so people can buy at dips.

Here is a good read: https://www.forbes.com/sites/billybambrough/2019/01/10/bitcoin-falls-suddenly-dragging-ripple-xrp-and-ethereum-down-but-tron-leaps-higher/#585102cf27df

15% of almost crypto prices went down.

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

WTF u Say? are u fuking blind? BTC price dropped  instantly and it was 100% Mysterious, U fking stupid.

[vv181]

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

Make sense, in psychology perspective, the latest cryptocurrencies attack could heavily affect the bitcoin since cryptocurrencies and bitcoin market is correlated. Some people may decrease the level of trust toward cryptocurrencies since don't understand the underlying of the attack.

[marcbitcoins]

This is natural in which no one can control the market movement and we cant control some people emotion too especially if some of them are easy to panic. We are still in the bearish trend so expect some of this down trend in the coming days until someone will trigger the bullish run.

[shinharu10282016]

What caused this? How can the price be so volatile? Who is behind the market for real?

Are you new here good sir? This is not mysterious at all since there are alot of people who are really like dumping prices like this so people can buy at dips.

Here is a good read: https://www.forbes.com/sites/billybambrough/2019/01/10/bitcoin-falls-suddenly-dragging-ripple-xrp-and-ethereum-down-but-tron-leaps-higher/#585102cf27df

15% of almost crypto prices went down.

"A few drivers are rumored to be behind the crypto sell-off in the last 24 hours," said David Thomas, co-founder of London-based cryptocurrency broker GlobalBlock. "Firstly, there was a 51% attack on ethereum classic which resulted in the apparent double-spend of $1.1m of ETC. Naturally, occurrences such as these can tend to cause some fear in the market surrounding overall security and confidence surrounding both cryptocurrencies and blockchain technology itself.

WTF u Say? are u fuking blind? BTC price dropped  instantly and it was 100% Mysterious, U fking stupid.

DOG. BTC haven't reached the bottom. You sure talk big when you can't even do some simple research.

A newbie account with nothing asks and then answered but talks trash.

[cellard]

For now, I don't see any reason why the price drop an instant. I searched on google and news or even the market analyst of eToro (Mati Greenspan) doesn't know what is the reason behind the price drop.

Just like the above said I think there is a big group of whales who sold a bit of bitcoin just to play the market.

I have read some articles that the price will drop until $3.5k and there is solid support at this level. Let's hope that it won't drop too much because I'm expecting improvement in the price this year.

There doesn't need to be some news on the press explaining sudden drops. Information is always asymmetrical, someone could have insider information and make a move before the rest go like sheep and sell, then the buy the dip. The very classic move in which market makers operate.

If anything, I saw that Jihan Wu left Bitmain, however that is positive news. Maybe someone related took a dump.

There's the possibility that is just a random whale cashing out for no reason, other than being closer to capitulation.

[Juggy777]

What caused this? How can the price be so volatile? Who is behind the market for real?

Hey it seems you're new in the world of cryptos, Bitcoins and other alts are very volatile and there's no definite timeline where they'll be stable or take a dump. It's very difficult to give you a name, but I believe it's whales, either one or many together who decided to sell their coins at high price, then again buy those at dips. I believe this is a temporary blip and I feel there's a good resistance at 3450$ levels, hence in few days we shall recover from it.

Link: https://www.ccn.com/what-caused-ethereum-bitcoin-cash-to-plunge-15-in-less-than-4-hours/

[Adriano2010]

Is possible some whales who do this again and again and they have enough money, and they love this situation because they make a lot of profit once make the price go up and down and up again. So why not who have money can profit from this situation and buy now and sell when high.

[WinslowIII]

I thought we already covered this - the buttfucks running the btc shitcoin forks are exiting the market, and they have like a million bitcoins or some such shit. This is going to keep going one step forward 2 steps back for the whole year probably.

[figmentofmyass]

ah, the classic "bart top".

For now, I don't see any reason why the price drop an instant. I searched on google and news or even the market analyst of eToro (Mati Greenspan) doesn't know what is the reason behind the price drop.

the idea that there is a fundamental reason (eg "news") behind every price move is a fallacy. all we know is that a lot of coins were sold into thin books---nothing out of the ordinary for the bitcoin market. if demand were strong, buyers would have absorbed the selling and bought the price right back to $4k. the reason they didn't is simple: we're in a bear market.

[zhekinsp]

Is possible some whales who do this again and again and they have enough money, and they love this situation because they make a lot of profit once make the price go up and down and up again. So why not who have money can profit from this situation and buy now and sell when high.

For the people who already bought the bitcoins few days earleir will hurt because for them they bought at high and selling for low?!

I don't support the people who are moaning for the price drops in very short term just hold and believe on bitcoin.

[buwaytress]

There doesn't need to be some news on the press explaining sudden drops. Information is always asymmetrical, someone could have insider information and make a move before the rest go like sheep and sell, then the buy the dip. The very classic move in which market makers operate.

If anything, I saw that Jihan Wu left Bitmain, however that is positive news. Maybe someone related took a dump.

There's the possibility that is just a random whale cashing out for no reason, other than being closer to capitulation.

Also, information is always late, but not this late. There really was nothing that could be considered bad enough to trigger this flash crash, just as there wasn't anything good over a week ago to trigger that 10% spike (same jump, different direction).

The Jihan Wu rumours also were a week ago actually, and yeah, rumour mills always been busy but big investors do tend to react to that sort of anomalous news.

We should be used to this by now.

[pooya87]

have you tried zooming out of that chart and also panning to left size a bit and see other parts of the chart? obviously you haven't so go back to that chart and do these things and you can see that what you find "mysterious" has been the way bitcoin market has been fluctuating for nearly 10 years now. sometimes it is because of some small news (positive or negative) and sometimes it is just a small surge in buyers or sellers that pushed the price temporarily in a certain direction.
these movements are not significant as long as we are not breaking below any support line or above any resistance line.

[Baofeng]

There's nothing mysterious here. Just speculators who have bought bitcoins with the price is around $3600 and just decided to book their profits. It's been the pattern for the last 6 months if I'm not mistaken. Although we wanted to see the price rise around the $4200 mark, there's a huge barrier in front of us. That's why it's hard to rely on TA at this market situations, most of the time TA will not show the overall sentiments and the incoming dumps.