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Author Topic: any reason for this biggest drop?  (Read 717 times)
PolinaCryptoN
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June 27, 2019, 08:47:20 PM
 #1


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June 27, 2019, 08:57:38 PM
 #2

Yeah, it's a correction--or a dip.  This is exactly what happens when any given market rises too high, too fast.  I have not been following crypto for the past week and was actually very surprised that bitcoin hit $10k--and then I heard it touched $13k!  The $13k level at least is unsustainable for now, and it indicates to me that there are a LOT of speculators in the market right now, and they're blowing bitcoin up past the point of rationality.

The same thing happened in 2017.  A similar thing happened in 2014, although Mt. Gox had a hand in that debacle.  Right now I just think there's too many people with too much money getting in and buying.  IMO now is not a good time to be buying bitcoin.  I'm just going to wait and see what happens.

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June 27, 2019, 09:42:00 PM
 #3

The logic is we went up so quick so don't think that it will stay like that forever. There's also another reason and it might due to Coinbase's recent issue.

https://cointelegraph.com/news/bitcoin-falls-by-1-400-after-crash-of-major-crypto-exchange-coinbase
https://www.coindesk.com/coinbase-hit-with-outage-as-bitcoin-price-drops-1-8k-in-15-minutes

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June 27, 2019, 10:17:35 PM
 #4

The same thing happened in 2017.  A similar thing happened in 2014, although Mt. Gox had a hand in that debacle.  Right now I just think there's too many people with too much money getting in and buying.  IMO now is not a good time to be buying bitcoin.  I'm just going to wait and see what happens.
The market situation are similar like in the past and the price was moving higher without any breaks breaking every resistance and it looks like the market was looking for some major news for the correction and that happened in the form of coinbase having issues with their site.

@OP this is not the biggest drop in price for bitcoin, if you check the historical price data you might understand it.

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June 27, 2019, 10:36:42 PM
 #5

We are wondering why it goes like this unexpectedly but we are all aware of how this thing possibly happens again. Yeah, it's a little worrying if it drops down hard just like it happened last 2017 and take a pause.
Let see how it change the course in a few hours from now if this is just a simple dump or going down deeply.




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June 27, 2019, 10:50:12 PM
 #6

Don't be bothered worry about that quick and fast drops its normal because of volality, we should know it after we enjoy the fastest amazing price pump we also to be always ready for possible price drops.
But I think is normal movement of bitcoin better to relax and don't panic after that drops correction possible price react to hit 15,000$😀😀😀

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June 27, 2019, 11:12:41 PM
 #7

This is a very fast increase in the price of Bitcoin and that increase occurred only within a few days. So it is now at the hit to keep backward and now the price is $11.274. I've lost quite a lot of money because of the current market corrections. I hope that the market can go back up again.

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June 27, 2019, 11:25:16 PM
 #8

It's not surprise to have some big drop like this because some other investors can't wait for the price to go up even more so they sold their Coins as soon as it rises up to nearly 13K$. but sometimes when we have a fall like this it goes up again and mostly higher from what has been dropped just like last month's 8k down to 7k.

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June 28, 2019, 06:33:04 AM
 #9

This is a very fast increase in the price of Bitcoin and that increase occurred only within a few days. So it is now at the hit to keep backward and now the price is $11.274. I've lost quite a lot of money because of the current market corrections. I hope that the market can go back up again.
I will like to ask if you buy Bitcoin above the current price? because you only lose if you sell below your entry price. It is a normal thing in this market and the pump that happens for the past few days will not be sustained and the market has to return to its price pattern that started in February. It will resume its upwards movement once the traders take profit from the recent gained.
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June 28, 2019, 06:41:16 AM
 #10

The correction was due to come

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June 28, 2019, 07:06:42 AM
 #11

The present dump is due to correction bitcoin grow 3000 dollars in just 24 hours now bitcoin is trying to find the support once btc prices stabilizes we can expect btc to touch again 13500 dollars by next month
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June 28, 2019, 07:43:53 AM
 #12

Yeah, it's a correction--or a dip.  This is exactly what happens when any given market rises too high, too fast.  I have not been following crypto for the past week and was actually very surprised that bitcoin hit $10k--and then I heard it touched $13k!  The $13k level at least is unsustainable for now, and it indicates to me that there are a LOT of speculators in the market right now, and they're blowing bitcoin up past the point of rationality.

The same thing happened in 2017.  A similar thing happened in 2014, although Mt. Gox had a hand in that debacle.  Right now I just think there's too many people with too much money getting in and buying.  IMO now is not a good time to be buying bitcoin.  I'm just going to wait and see what happens.

I'd concur. Any rise needs a period of cooling off and relative stability, or it's unsustainable. Look at what happened in 2017. The markets rose continuously, and the result was that when they inevitably started to fall, no-one knew where they should fall to because there hadn't been any period of cooling off and price consolidation during the rise. The result being they kept falling until finally this February everyone reached a consensus that we had hit bottom. If the late 2017 rise had been more gradual and with new support levels established, it's likely we wouldn't have fallen so far or for so long.

As for why this current fall started - it had become clear that the rise was unsustainable, and when this happens it needs only a tiny trigger to start the huge sell-off. This time around it's likely it was the brief Coinbase outage.

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June 28, 2019, 07:59:03 AM
 #13

The present dump is due to correction bitcoin grow 3000 dollars in just 24 hours now bitcoin is trying to find the support once btc prices stabilizes we can expect btc to touch again 13500 dollars by next month
That's going to happen in sooner time, and as per chart monitoring if you look at the coinmarketcap history, it's always coming back to same scenario. The trend usually occurs before spiking going to much bigger price value more than $13.5k.

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June 28, 2019, 08:35:03 AM
Last edit: June 28, 2019, 08:45:39 AM by ophyrim
 #14

this is an expected result of a parabolic move. Nothing special. And this is not a drop. it is a correction and I think it will continue for BTC.

3k to 13.5k and do you think this is going to rise forever?

For the alts: If BTC moves alts are going to the hell

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June 28, 2019, 08:38:10 AM
 #15

Today's big drop is just something that usually happens when Bitcoin and Altcoin have experienced a substantial increase too, we should be happy if today prices drop because we can buy at a cheaper price than yesterday, and prepare for tomorrow with an increase the greater one

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June 28, 2019, 08:55:11 AM
 #16

I think there is no reason for this drop. It is just a price correction that we have seen in the past. wait and patience till finishing the correction and We will go mone again for touching another ATH of btc.

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June 28, 2019, 09:04:09 AM
 #17

markets still working in cycles, you can't expect a steady upgoing price. this huge dip was needed to bring people back who thinks "i buy btc and get rich quick" ... dumb money wont win for longterm. i guess yesterday a huge people got burned by leverage trading.
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June 28, 2019, 10:11:41 AM
 #18

I don't think there was a reason for this dump. Just some whales who think it was enough profits. I think it is going to be difficult to go higher than $14000. It is not impossible, but it will depend of thoses whales, if they are going to come back or not. And if new whales are going to enter the game.

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June 28, 2019, 01:13:47 PM
 #19

Today's big drop is just something that usually happens when Bitcoin and Altcoin have experienced a substantial increase too, we should be happy if today prices drop because we can buy at a cheaper price than yesterday, and prepare for tomorrow with an increase the greater one
Today? The big dump was happened on yesterday. What if bitcoin get dump again after you bought it?


I don't think there was a reason for this dump. Just some whales who think it was enough profits. I think it is going to be difficult to go higher than $14000. It is not impossible, but it will depend of thoses whales, if they are going to come back or not. And if new whales are going to enter the game.
And most of them should be who accumulated bitcoin when it' was still around $3k - $4k


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Vaculin
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June 28, 2019, 01:20:24 PM
 #20

Bitcoin should dangle, that rise and fall situation as we always experience. But in the final analysis, there will be steady price which will be appreciated by investors, so no shaken.
It probably there is no shaken to those who truly believe with bitcoin, but for those who are certainly at the doubts, they are the one that first to sell their bitcoins.

The current Bitcoin price decline will give something to us an opportunity to buy more cause after this, we might be able to see big jumps and to have another ATH this year. This meant that those late comers have given a chance and never have to lose this time.




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