Bitcoin went from $5420 to $5117 in 2 minutes! Bubble?

[shesheboy]

Is the crypto bubble finally coming to an end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?

i think the crypto bubble still there but to think that the price of bitcoin turn to $100 is almost impossible,
because if you think that would happen then how much money it takes for people to dump bitcoin to 100$?

What bubble you guys are talking about ?  Bitcoin is not a bubble because it is existed for over 10 years and counting  . if it is really a bubble then it is already bursted and over .  last 2017 when the value declined  . there were lots of threads created saying that bitcoin is a bubble but after several days , the price is showing signs of recovery . see ?  Bitcoin is not really a bubble  .  now the dump is not really that hard compare to the year 2017,  so there is no need to panic too much  .

[Moiyah]

I was really confused how whales really do that. As you can see, a huge red candles suddenly came up. I wasn't expecting it to be that low. Actually, it goes down at $5,085. I was expecting it to dump at $5,200 but not below $5,200. I guess, there are reasons why it dumped that much.

[ardentvolcanoes]

I was really confused how whales really do that. As you can see, a huge red candles suddenly came up. I wasn't expecting it to be that low. Actually, it goes down at $5,085. I was expecting it to dump at $5,200 but not below $5,200. I guess, there are reasons why it dumped that much.

Whales played with the price, there's no certain reason for the price to fall that much, I was thinking that it will decrease by a $100 then went up again but
that's not what happened, falling more than that and it seems its trying again to accumulate and make another run, lets wait and see.

[dothebeats]

Could just be a minor fluctuation or someone sold a huge quantity in just a short span of time. It usually happens every once in a while, then the price comes rising very quickly as if nothing happened (we're sitting @ $5200 now). If this bubble has popped, you can see the price continuously falling down into the abyss, but that's not the case in here. Market sentiment is still very bullish now, and I don't think it's bound to change any time soon.

[kamBlanV]

this is a decline that makes us shocked. but. this is the crypto world. rapid and very unpredictable volatility. BTC still has the opportunity to create bullish again. we only need time. I predict that an entity will not be able to drop the bitcoib value without being supported by other factors.

[pooya87]

haha, it was so funny bro. it is a 4% drop where price didn't even go below $5k resistance and you are panicking like this much! i suggest you stay away from bitcoin then because you will probably have a heart attack soon if you keep this up since 4% and small percentages like that are not even the "volatility' that bitcoin usually has and as we continue rising up towards the previous ATH the volatility will increase and if you are getting scared like this now you will have nightmares then.

[Baofeng]

Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?

No, Bitcoin is not controlled by one entity, there could be whales, but I don't think that there are just one entity moving this price. The market is based on sentiments, there could be news affecting the market like this one, (https://finance.yahoo.com/news/ny-attorney-general-sues-bitfinex-210643545.html). Or just simply, speculators are shorting bitcoin and booking their profits for this weekend.

And this is the official response from Bitfinex.

Earlier today, the New York Attorney General’s office released an order it obtained – without notice or a hearing – in an attempt to compel Bitfinex and Tether to provide certain documents and seeking certain injunctive relief.

The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.

Bitfinex and Tether have been fully cooperative with the New York Attorney General’s office, as both companies are with all regulators. The New York Attorney General’s office should focus its efforts on trying to aid and support our recovery efforts.

Both Bitfinex and Tether are financially strong – full stop. And both Bitfinex and Tether are committed to fighting this gross overreach by the New York Attorney General’s office against companies that are good corporate citizens and strong supporters of law enforcement. Bitfinex and Tether will vigorously challenge this, and any and all other actions, by the New York Attorney General’s office.

https://www.bitfinex.com/posts/356

So let us see how this whole drama will go on. Lately we have seen's lot of shenigans and soap operas (remember CW vs everyone else ). There has been lots of accusations on Tether as early as 2017 if my memory serves me right, so this is the right time to prove all allegations wrong in the court.

[bounty.cvn]

Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?

Everytime there will be some minor price fluctuation in between, and the same has taken place now. The same will be recovered at the shortest and for this we can't say it a bubble. Also there is no proof that it is a shattering of the market by a single entity. Around some $300 difference is acceptable as massive drops have taken place earlier this year. Upon these market drops we don't need to panic of someone taking the price as low as $100 someday.

I agree with you. People who believe in the future and Block chain technology will not let Bitcoin die

[bounty.cvn]

Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?

haha, it's never ending. Bitcoin has dumped that much so quickly and can say the absolutely opposite, it has risen up very quickly too, by 4k in one week when there was old good times of rising from 600 usd to 20k.
There is no way bitcoin will be 100$ one day, if that happens, believe me, this coin will be dead even if giving up on mining won't kill before.

At the current difficulty, Bitcoin will 100% be dead due to a lack of miners before it dies due to low exchange values. Even with the decrease in difficulty, if the big miners don't want to mine, there's almost no reason for anyone else to want to mine either.

Now, I don't want to say it can never happen, as I remember back when Bitcoin had sat at the mid $100s sometime during summer 2015(?), but the chance of it happening now should be close to zero. Considering it went down from $20k to only about low $3,000s, that's already a testament to Bitcoin's resilience. It could have completely tumbled further than that, but it didn't. There's still a lot of money in Bitcoin and a lot of people are interested in seeing it succeed. That's one of the great things about the Bitcoin community.

It's great to see the price of bitcoin recovering. Pessimists are always afraid when the price of BTC drops. But believe me, even if miners have mined 21 million Bitcoin, there will still be a way for Bitcoin to exist and develop. Because Block chain technology is of present and future. I love Bitcoin

[Pr3ko]

This is the reason : https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege
i think so

[misterjo]

the price fell because they have presented a demand to the exchange Bitfinex and Tether, surely some whale sold a large amount per panic, also the "stop limit" also make the fall is faster

[bounty.cvn]

I want talk to you 1 thing. It's when the price of Bitcoin falls, it is the best opportunity for us to own it at this time. Smart people take advantage of falling prices to buy more and sell when the price increases. Good luck!

[mich]

Just because the price dipped 303$ does not mean that Bitcoin is a bubble.
Bitcoin went up more than 303$ last week so of course it will even out.
I am not even so sure if this is a serious thread or not.
When the price dips back down to 3000$, then we can start to be concerned

[bounty.cvn]

When the price of Bitcoin falls, it is the best opportunity for us to own it at this time. Smart people take advantage of falling prices to buy more and sell when the price increases. Good luck!

[FlightyPouch]

When the price of Bitcoin falls, it is the best opportunity for us to own it at this time. Smart people take advantage of falling prices to buy more and sell when the price increases. Good luck!

It may be the best time to buy but for the people that are starting to panic, we should not always deduct a bad thing to a certain price decrease since we all know how volatile our investments are. Bitcoin and most of the crypto currencies are usually volatile.

[LogitechMouse]

For fuck sake, how many times this topic has been created to this forum.  You made my day with this post .

Its just a minor fluctuation and there is no crypto bubble there. Its just a small price increase followed by a price drop. Probably there are some huge investors that sold their Bitcoins already to get some profit but there is no bubble there

[Aldrinx00]

It's the same as when bitcoin price went up to $5k to $5.5k, traders are taking their profit and never assumed that the price will always go up. We can't call it a bubble but a simple liquidation of investors/traders.

[jubilarian]

With what happened in crypto market, I see that it's normal . When market has FUD, the price can decrease within some minutes, it makes a long red column. 

[Jayshree85]

Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?

With this little dump you are crying bubble but when the price moved up same way why did not you started to cry bull bubble. Why are the traders not realizing that it went more then 50% up then their is obvious that market have to correct some 10 to 20% so that it can go up back.

I dont think that this is bubble but it is a small correction before market start to move up.

[UmerIdrees]

Is the crypto bubble finally coming to a end? Why and HOW is it possible for bitcoin to dump that much that fast? Is bitcoin controlled by 1 entity and will that entity dump bitcoin to $100 one day?

I think you are very new to the bitcoin world. Whales do manipulate the bitcoin price but it is not control by one entity. Yesterday there was a fud of Bitfinex covered 850$ Million dollar loss through Tether. This news made the market dump but it recovered fast. There has been manipulation going on with bitcoin and crypto currencies.
Everyone shorting or longing the bitcoin would have been REKT by this bitcoin move.