Selling the Bakkt news?

[jseverson]

Do you think they’re selling the news in order to accumulate more Bitcoin? Or Bakkt’s recent news doesn’t really impact at all?

I think they probably sold the news, but for profit and not much else. Bakkt fell flat amidst all the high expectations, so it's likely that traders foresaw this and sold. I don't really believe there are larger forces at play here.

There is no certain thing about what really affected Bitcoin to go down. The fall in the price still surprisingly continues. Also, this may be a sign to a preparation for a big rise. I think the fall will end at around 9000 dollars.

I agree. Because, after all, this is just an American (New York Exchange) thing. And i strongly believe the rest of the world (especially Asia) has more weight.

Everyone reads the same news though, so it's not like Bakkt's speculative effect would be confined to the North American market. I'm sure traders all over the world made some moves relative to this.

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[slaman29]

Do you think they’re selling the news in order to accumulate more Bitcoin? Or Bakkt’s recent news doesn’t really impact at all?

The thing with Bakkt is that it's long overdue, investors grow tired no more excitement, no more hype.

And now we can correlate it to the recent flash crash or whatever you call it. So there could be manipulation behind because of this Bakkt news to accumulate cheap bitcoin.

But still the sudden drop of hashrate resulting to the price going down at $8000-$8500 is really unexpected.

Correlation is not causation, think we all know this by now.

Flash crash is also proven to not be true or at least not accurate. I mean, if hashpower really is the thing driving price and then we have been seeing all time high hashpower while price is stagnating so the flash crash shouldn't have caused the markets to panic at least not if it recovered immediately.