SUDDEN CRASH

[Yaunfitda]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

Corrections. We have tried several attempts to break the $8200 barrier, but was unsuccessful. So people just decided to sell and then followed by panic buyers.

That's how the market operations, sometimes we really need to see some retracement so that we can move further. The price is $7300 now, so don't expect something big to happen in the next comin days.

[LuckyBtc]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

Bitcoin is really volatile now, It pumped high and now correcting before further move ahead, You can't expect Bitcoin to keep going up without retracing. Good opportunity to load more.

[partysaurus]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

guess this is the correction all ta "experts" has been talking about it seems like everytime btc goes parabolic in the start of a new bull market it corrects back atleast 60% from the new high before it pumps back up again.

[BitBite5]

It's not a crash, it's correction. And it is usual, Bitcoin is volatile, don't forget that. I can't understand that every time when the price starts to rise people expect that it will last forever. By now you should have learned that Bitcoin can't be predicted.

[NeuroticFish]

the news might have something to do with Binance opening up again. that is why in the past couple of days the groundwork for the FUD was being put in place all over the internet with FUDsters saying Binance is the reason for price rise!!!

This and a number of Bitmex longs liquidated.

The good news is that ithas fallen to under 6200 at some point and it has recovered.
The bad news is that the current 7200 may be fragile. It may be an interesting day (for some).

[Kakmakr]

I do not have any statistics to back my claim, but when an exchange blocked withdrawals during a small Bull run and they had a major hack like Binance, then it would make sense that loads of people would sell their coins, when the withdrawal block was removed.  

We had several months where nearly nothing happened with the price and now suddenly it jumps up to $8000+ ...so it is just natural that some people might take some small profits now. This will trigger a domino effect with automated trade bots, thinking that this is the start of a correction phase.  

[Ridwan Fauzi]

Seems like there is a manipulation since I haven't some information that can make its price come to down. This is important for us, market cryptocurrency is not like the other market. Its price can up almost 50% in several hours but its price also can down 50% in several hours, there is no safe way unless you are not a greedy person which always canny when deal with market cryptocurrency. However, regardless of that seems like the price will up again and I just wanna say this is the best time to buy and sell again when its price touch $8200.

[loopes]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

Don't worry thats normal. People who buy bitcoin at $3.000 - $4.000 now try to get profit. Those investors will get 100% profit. But the bull market is not end yet. There more people who buy bitcoin at $5.000 and above. Those investors need to hold their bitcoin for a little longer to get profit. Actually the main factor of bitcoin price rise is the growing number of  bitcoin adoption. So the price will tend to rise.

[sunsilk]

I think this is the collateral damage that has been made by the recent pump that we've witnessed. Although we've been witnessing and aware of that it's still kind of shocking to see the quick drop in your face. 

No news except for those claims by those experts that bitcoin should be dumped and forcing people to sell it. It's not a hidden reason anymore when there's a sudden crash, a massive sell offs happened and this has been done by some whales.

[LogitechMouse]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

Aside from the market making a correction that I already predicted days ago, I also predicted that threads like this will be created on this section.

You're a full member but you don't know how the price of Bitcoin moves. Maybe many of you are thinking that the rise of Bitcoin will continue and continue and continue . Be realistic dude. I expected that a correction will happen and this is the day that it happen. Don't forget that market manipulation is already happening so there is a possible manipulation here.

[bhabygrim]

You join here in 2017 which means you have a little of knowledge how volatile the crypto market can be.
You should know by now that whenever bitcoin raises in price, there is a period of correction or pull back afterwards. Do not expect the market price to be only on the rise forever. That is not a healthy market.

Yes if OP should already know it from the past events of crypto,
We should just wait and see how much it would fall down this time and if it would start to go up again soon.

[Eraldo Coil]

Bitcoin is really volatile and this is just a mere fluctuation in the price. I think we will see the price develop if we are going to look at the bigger picture in the next few months. You've been in this forum for a long time and I don't think you should worry that much. And if it goes down more, just look for opportunities to invest.

[Haunebu]

I do not have any statistics to back my claim, but when an exchange blocked withdrawals during a small Bull run and they had a major hack like Binance, then it would make sense that loads of people would sell their coins, when the withdrawal block was removed.  

We had several months where nearly nothing happened with the price and now suddenly it jumps up to $8000+ ...so it is just natural that some people might take some small profits now. This will trigger a domino effect with automated trade bots, thinking that this is the start of a correction phase.  

This could be true, but I don't think this is the case. Based on what I have read, it is basically a whale who placed their sell order and executed it at a certain price by mistake(Fat fingers) which led to the sudden drop.

The market is already recovering currently and BTC is edging closer to $7.4K currently.

[antisocial77]

Nothing important.bitcoin needed an correction and its healthy.if bitcoin doesnt below 6800 its ok for me.we needed to rest a while thats what happenef

[Kemarit]

I think this is the collateral damage that has been made by the recent pump that we've witnessed. Although we've been witnessing and aware of that it's still kind of shocking to see the quick drop in your face. 

I wouldn't describe this as a collateral damage but I'm sure everyone here who has been in the market long enough, or at least in 2017 really knows that this kind of retracement is inevitable.

No news except for those claims by those experts that bitcoin should be dumped and forcing people to sell it. It's not a hidden reason anymore when there's a sudden crash, a massive sell offs happened and this has been done by some whales.

Even if there is no FUD, people tend to sell to take profits, it's normal. We may call this a healthy pullback, and look at the price bright, how many of us didn't buy when the price is around $4000-$5000? And now seeing the market had a rally in the past months or so, many are wishing they've could have enter before. Now this is their chance to re-enter and put their "put one's money where one's mouth is".

[Lizzylove1]

This I believe is just some corrections, traders are taking profit, we should expect another market consolidation and the price of bitcoin will again go bullish and may set another new high price.

[BeManga]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

its just a few percent drop there nothing new about this because Bitcoin Value is So Volatile
it drop some percentage but it the long run it will still break the highest price

[goaldigger]

Guyz what had happened to market, seems a sudden crash to everything, Bitcoin is dropped to 7100 in minutes. Any news?

Nothing's special in here. Senior members doesnt care much about the extreme volatility of the price because it happens a million times through bitcoin's lifetime. This is how crypto works, dont worry it will go up again this month. You will get used to it soon.

[danipay]

bitcoin and altcoin are fluctuating currencies, there is nothing to worry about.
if you trade or hold cryptocurrency assets that means you understand this

[Janation]

I guess that will be normal.

It's been a while since investors experienced this price and it is obvious that some of them will be selling some of their BTCs, because of that the price will go down but you don't need to worry since it will eventually continue to rise. Sudden changes like that are normal for Bitcoin since we all know how volatile it can be.