Bitcoin fell again, what conspiracy?

[IOE]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

[nara1892]

I think one of the causes is the effect of trade war between China and America
and also the global economy is weak

[franky1]

I think one of the causes is the effect of trade war between China and America
and also the global economy is weak

dollar trade wars been going on for decades, centuries even, weak economy been going on since 2008... come on atleast try a bit better and stay relevant to this year

how about all those futures options that expired last year, people put into another yearly contract which they are now closing those contracts.(meaning something relevant to the last 12 months)

how about all those hashrate chatter causing people to panic because its not supporting a good bottom floor value line support(2 month floor puts btc at a ~$7k cost to mine).. in short the $10k price was inflated/bubble and not 'good value'

how about people now trying to register with brokers to use things like bakkt instead of buying direct thus less buyers and more sellers on the exchanges.

anyways. if you want to stick to the decade view of causes, here is the best one.
bitcoin has and will always be volatile like a stormy sea. with waves going up and down. dont expect a perpetual tidal wave growing constantly bigger and bigger. dont expect smooth sailing. always expect ups and downs

[AjithBtc]

More and more things get attributed to the fall in the price of bitcoin as well other altcoins. Trade wars and the weak economy prevailing around the globe isn't much discussed. The quantum computer from Google and the Bakkt launch is the much spoken statement for the fall in price of bitcoin.

Maybe there is a little chance and the entire thing is not because of the Bakkt and quantum computer. As in a quote it is the true growth which is equalizing with the mining cost. Prior to the same it was inflated.

[pooya87]

there is no conspiracy in action, it is just momentum. the price broke the very strong buy support at $9k+ and has been going down because of that thanks to a lot of stop loss orders, panic sellers with weak hands, lots of shorts and like always some manipulation.

[figmentofmyass]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

there's a simpler explanation---retail investors hung themselves. have you been seeing all this hype around bakkt leading up to its launch? well once it launched the hype was dead, but everyone was still long on BTC. that creates a situation of strong supply and weak demand. the path of least resistance was down.

i don't think we'll go too much lower.....maybe the low $7ks or a wick into the $6000s at worst. no matter what, there will be a violent rally once we finally bottom out.

[Oasisman]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

there's a simpler explanation---retail investors hung themselves. have you been seeing all this hype around bakkt leading up to its launch? well once it launched the hype was dead, but everyone was still long on BTC. that creates a situation of strong supply and weak demand. the path of least resistance was down.

i don't think we'll go too much lower.....maybe the low $7ks or a wick into the $6000s at worst. no matter what, there will be a violent rally once we finally bottom out.

I'll take around $6k as the bottom and will have momentum swing after that.

Im even surprised Bakkt hype didnt execute positive results in the market. I left clueless to as why the price continued to go downward, after the massive sell off took place and drag the price down from $10k to $8k real quick.

[ivakar]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

there's a simpler explanation---retail investors hung themselves. have you been seeing all this hype around bakkt leading up to its launch? well once it launched the hype was dead, but everyone was still long on BTC. that creates a situation of strong supply and weak demand. the path of least resistance was down.

i don't think we'll go too much lower.....maybe the low $7ks or a wick into the $6000s at worst. no matter what, there will be a violent rally once we finally bottom out.

I'll take around $6k as the bottom and will have momentum swing after that.

Im even surprised Bakkt hype didnt execute positive results in the market. I left clueless to as why the price continued to go downward, after the massive sell off took place and drag the price down from $10k to $8k real quick.

what make you think the bottom is 6k level? because of some TA? hardly it is the case...
I think that if we are going to fall down again, I mean if the falling is the trend, then the market will go to last year level - 3-4K
of course this is really bad, but that is real case scenario...

[MonsterV]

there is no conspiracy in action, it is just momentum. the price broke the very strong buy support at $9k+ and has been going down because of that thanks to a lot of stop loss orders, panic sellers with weak hands, lots of shorts and like always some manipulation.

Well, I agree that this is not a conspiracy, but because seller panic quite strongly, as we all know that bitcoin has fallen gradually from $12k and penetrated several support area in past few months. And yesterday was a break support area again so that this caused tremendous panic so that traders were panic sellers right away and prices were going down so fast.

[killat]

Most crypto is overvalued and the changes we are seeing are normal and expected in current conditions. Relax and enjoy the ride.

Why do I say this?

Every year people sell in the fall and winter and buy in the spring and summer. This is because they are liquidating assets for tax reasons. It's pretty normal.

Also, India and a few other countries are regulating cryptocurrency. This always creates a downturn as people sell, trying to avoid taxes and such.

I don't think Bitcoin needs to be 10k. It was over-inflated as it was used as a haven for tax dodgers. It's only people trying to profit off explosive unstable coin growth who are at real risk. Never invest what you can't lose, friends.

[TravelMug]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

There is no conspiracy at all, and why would bankers and exchanges join forces? Doesn't make any sense. The only reason is that people just selling their bitcoin, that's all. We can stop them from doing that since we are in a free market.

So stop with this whole conspiracy scenario, it all speculation and there's no proof of such actions. Maybe we are really in the oversold regions in the last two months or so and more likely investors just decided to dump and probably go buy when the price is cheap again.

[lankymanx]

Yeh this all seems to controlled for my liking, it does not compare to 2017 where it "naturally" seemed to climb up the mountain.
I dont know , it is just strange. the price goes up or down but it seems to simmer and stay hard or soft with small 10-50 dollars movements. we do see swings of 100 or slightly more, but thats what i mean, at times it just seems to hold to tight with no oscillation, but more like a small flat square wave.
It is just sad to see, its almost like watching sports where some or even alot is always seemingly fixed ?
comments

[davis196]

I like it when people consider normal market behaviour "a conspiracy".
The bitcoin price was staying at 10K USD for too long.It was obvious that there wasn't any support coming from new buyers to push the price up.Everyone was waiting for Bakkt to bring the new bull run,but that didn't happen so everyone is selling.That was explained many times on the forum,but the newbies don't understand it and they keep searching for a conspiracy theory.

[IOE]

I think one of the causes is the effect of trade war between China and America
and also the global economy is weak

dollar trade wars been going on for decades, centuries even, weak economy been going on since 2008... come on atleast try a bit better and stay relevant to this year

how about all those futures options that expired last year, people put into another yearly contract which they are now closing those contracts.(meaning something relevant to the last 12 months)

how about all those hashrate chatter causing people to panic because its not supporting a good bottom floor value line support(2 month floor puts btc at a ~$7k cost to mine).. in short the $10k price was inflated/bubble and not 'good value'

how about people now trying to register with brokers to use things like bakkt instead of buying direct thus less buyers and more sellers on the exchanges.

anyways. if you want to stick to the decade view of causes, here is the best one.
bitcoin has and will always be volatile like a stormy sea. with waves going up and down. dont expect a perpetual tidal wave growing constantly bigger and bigger. dont expect smooth sailing. always expect ups and downs

Your explanation gives me more room to understand. Thank you.

[yoseph]

I think one of the causes is the effect of trade war between China and America
and also the global economy is weak

The trade war has been actually going on for some time now and I really doubt that it's the cause of the recent slips. People would rather buy gold and maybe Bitcoins during the trade wars and that would make Bitcoin spike instead of it going down.

[Oasisman]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

there's a simpler explanation---retail investors hung themselves. have you been seeing all this hype around bakkt leading up to its launch? well once it launched the hype was dead, but everyone was still long on BTC. that creates a situation of strong supply and weak demand. the path of least resistance was down.

i don't think we'll go too much lower.....maybe the low $7ks or a wick into the $6000s at worst. no matter what, there will be a violent rally once we finally bottom out.

I'll take around $6k as the bottom and will have momentum swing after that.

Im even surprised Bakkt hype didnt execute positive results in the market. I left clueless to as why the price continued to go downward, after the massive sell off took place and drag the price down from $10k to $8k real quick.

what make you think the bottom is 6k level? because of some TA? hardly it is the case...
I think that if we are going to fall down again, I mean if the falling is the trend, then the market will go to last year level - 3-4K
of course this is really bad, but that is real case scenario...

Its not always the case for me. TA's doesnt always work, lets say TA's are 60% accurate. Now, I'll find the remaining percentage from the news and speculations to make the price analysis gap closer to whats expected.

I read an article about the price drop today, some predictions says that the bottom for this fall is $7.5k. I have feeling that the price would continue to fall closer to $6k as there are still people who would sell their remaining asset to cover the loss (panic sellers). On the $6k mark its a good entry point for a lot of people to accumulate more Bitcoin. Then, that would be the start of the price to rise again.

Thats just my personal analysis on the current market movement today.

[Shenzou]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

There is no conspiracy here or any drama or events that lead to this drop, it is just the nature of the market and how it works, bitcoin has been going at it for quite a bit and the price was sitting at around 10k for a couple of months now and it was time for it to go down, and that comes from the lack of support not just from investors and projects which have been minimal this year and also from simple traders that don't see or have any motivation to  do so, but this is probably gonna change as we get closer to the halving next year.

[bitbunnny]

Conspiracy theories again, I really can't understand you people. Every time when the price goes down some dark forces are to blaim and it's funny how we don't see such theories when the price goes up.
It's just price correction that is part of volatility process and probably conditions on.the market that lead to this correction. For some longer period of time we had relatively stable price then slight rise and now it droped. And this has also nothing to do with launching of Bakkt, it's just time coincidency.

[teosanru]

For two consecutive days, Bitcoins fell late at night. There are many rumors on the Internet, some people say that the exchange joint bankers, institutions, a hanging of retail investors. Others say they are preparing for big organizations to come in one after another. But in any case, retail investors are innocent.

Even I am pretty much confused about this. From last 6 months what we have known is that BTC prices fluctuates because there was a lot of bad news and because the Bakkt futures were being delayed and delayed by SEC. So what I expected was when the Bakkt futures be launched price would actually boom. But now when I get the new that they are approved BTC hardly marched a bit. Then after a day or two I heard another exchange trying to come into Bitcoin futures get it's decision delayed so BTC now is again going down. Well it's too wierd that BTC goes up without any good news while falls imminently with a single bad news. This is a complete conspiracy in itself.

Conspiracy theories again, I really can't understand you people. Every time when the price goes down some dark forces are to blaim and it's funny how we don't see such theories when the price goes up.
It's just price correction that is part of volatility process and probably conditions on.the market that lead to this correction. For some longer period of time we had relatively stable price then slight rise and now it droped. And this has also nothing to do with launching of Bakkt, it's just time coincidency.

I am not saying this just because price has fallen I said this even when the price skyrocketed like anything. Bitcoin is a pure manipulation done by some big whales.

[rebrik7]

It was expected by some traders and analitycs. The gap at level 8400-8600 should have been closed. Many people spoke about it.
There are no gaps under 8k, however support lines is quiet weak and unstable. If fundamental news will be bad, I think we can dive deeper, below level 8000.