Falling of crypto prices

[cr1776]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

Much also depends on your timeframe.  If you are talking about weeks or months vs years, your perspective will be different.  Anyone who is buying/selling with the week or month perspective will probably be disappointed at some point.

[Omair Amin]

The speculation of price is only depends in market you also see that in market the a lot of tokens prices increases or decreases regularly that does not create any effect to fall down the price of BTC & other alt coins if you compare the value of BTC in one or two year later then you see that the value of BTC increases as a amount of time.

[vintages]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

This sort of rumors are what causes panic in cryptocurrency .
There is even no official link to any website that state so or carried such news.
Moreover, if anyone trade their BTC which happens to be much in number, its not necessary suppose to cause panic. Bitcoin are meant to be owned, transact, used or spend. No one has the right to tell anyone how to spend their coins because of the fear of price decrease.

[Oceat]

Most says that the market situation right now is caused by the launching of BAKKT, well noticeably bitcoin drops after it is launched well it is because of the people that hyped and expected high with BAKKT. Falling of crypto prices these days are not really surprising as it always happen, market is speculative so why wonder if the prices drops? I also think this dive is a trap by whales, who knows?

Well, bakkt might be the reason for all of this dump but I could be wrong since it might be a coincidence also. Dropping of hashrate before bakkt was going to launch, these two were coincidentally happens right after someone speculated a rise of the Bitcoin price yet it goes the other way around.

[2girls]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

I do not believe for anything like a bear trap. If you are a trader, then you should look for the signals thorough charts. Those person who are expert in Technical analysis can very well predict the market next moves.

[joelsamuya]

This recent slide in the price of Bitcoin is just one of the many occurrences with this cryptocurrency, that is if we have to study its 10-year history. Bitcoin students are certain that this is just another volatile days for Bitcoin and that soon things can be on reverse once again. Personally, I don't care about what can be the real reasons behind this slump because soon this will eventually be forgotten and people will be concerned with other things related to cryptocurrency or otherwise. I also believe that in every dip, there is the best opportunity to buy and hold more. So guys, what are we waiting for...lightning?

[fabiorem]

This crash came together with a hashrate drop.

Probably the hashrate drop came some hours before the crash. What does this means? It means the miners turned off their engines, like they did in November 2018. But at that time, bitcoin took two weeks to dive to 3k. Now it took just some hours.

The chart below shows similarities between the two crashes:



If it had fallen to $3400 in a matter of 9 months, now it could fall to the double of this value in 1/3 of this time. The bottom remains as $6800, after a mini-bull market of 3 months. I dont believe the price can drop any further.

Was the price manipulated? Yes, and I believe the miners are doing it, for the sake of distribution of new minted coins. Bitcoin is still in a mixed period of distribution and accumulation. Remember that the ATH of 2013 was reached in 2016, so the ATH of 2017 might be reached only in 2020. We could only hope it would be achieved this year, but bitcoin have sudden drops and fast rises. Also I dont discard a connection between miners, whales and futures speculation.

You will have to be patient and wait at least two years to see some profit. Dont buy into bear trolling. These guys hate bitcoin and are here only for fiat cash.

[ajqjjj]

This recent slide in the price of Bitcoin is just one of the many occurrences with this cryptocurrency, that is if we have to study its 10-year history. Bitcoin students are certain that this is just another volatile days for Bitcoin and that soon things can be on reverse once again. Personally, I don't care about what can be the real reasons behind this slump because soon this will eventually be forgotten and people will be concerned with other things related to cryptocurrency or otherwise. I also believe that in every dip, there is the best opportunity to buy and hold more. So guys, what are we waiting for...lightning?

Most of the beginners are buy more Bitcoin in this dip, so no one is waiting for lighting at the same time some investors are move to stable coins it will make silence on this week. Some peoples are waiting for libra projects because of marketing so we must spread the potential of this project. I think end of the year again it will cross the 13k USD so we will buy and hold, this make awesome profit.

[davinchi]

This is bitcoin after all, sometimes it goes up (we have all seen it when it went up to 20k and also recently in 2019 when it went from 3k to 13k) but sometimes it goes down (same with 20k going to 3k and 13k going to under 8k now), so we should not be really looking for reasons.

I don't understand the logic when people try to find a reason for bitcoin to go down other than people literally sold bitcoin, that is the only reason we need, when people sell bitcoins the price goes down, if more bitcoins bought than sold than it goes up. That is how the market works and it has always worked that way as well. If you want to find a reason that nobody has figured out and say "this is why bitcoin went down" and be known as the person who figured it all out than go ahead but you will always fail.

[TriplexXx]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

I think what is happening right now is called market correction. Whenever the bitcoin price reaches certain level, the market correction will follow to stabilize the price. This is not a new scenario it happens quite often.

[figmentofmyass]

This crash came together with a hashrate drop.

Probably the hashrate drop came some hours before the crash. What does this means? It means the miners turned off their engines, like they did in November 2018.

2 days after the crash, there was a difficulty adjustment. the difficulty rose by 7.31%. and so far, the difficulty is slated to rise again by 4.64% on the next adjustment. https://btc.com/stats/diff

so......what hashrate drop?

Was the price manipulated? Yes, and I believe the miners are doing it, for the sake of distribution of new minted coins. Bitcoin is still in a mixed period of distribution and accumulation.

i don't get it. why would miners manipulate prices lower in order to distribute (at lower prices)? that seems counter-intuitive.

[fabiorem]

2 days after the crash, there was a difficulty adjustment. the difficulty rose by 7.31%. and so far, the difficulty is slated to rise again by 4.64% on the next adjustment. https://btc.com/stats/diff

so......what hashrate drop?

There was a sudden drop in September 22nd, right before the mini-crash. But it fixed itself quickly.

It can be checked here: https://www.blockchain.com/charts/hash-rate

It looks like someone was wanting to repeat the crash that happened in 2018, but it didnt go well.

[Reid]

Or could it be just a strategy or someone is fooling around.
Why dont you give the link to wherever he put this statement?
Maybe we could somehow read it and see the legitimacy of the writer.

There are too many speculations happening around and it had been chaos specially for newbies.
You might want to get away from those and trust your instincts with this. Better, trust bitcoin.

[The Sceptical Chymist]

There is no reason to believe that the two events are related. People like to speculate about all kinds of things.

Hey, that's what this section is all about.

OP, the total market cap of bitcoin is $150.3 billion right now and I'm not sure who would own billions of dollars worth of it.  However, if an amount that huge got dumped on the market all at once, you better believe it would sink the price.  That's why I don't think anyone would be stupid enough to do it--they'd be trying to sell bitcoin at falling prices, and that's not smart.

I think what is happening right now is called market correction.

Yeah, I guess.  It seems more like a normal dip to me, even though bitcoin lost like 20% in value within days.  That kind of volatility just doesn't surprise me anymore.  I usually associate corrections with drops when the price of something is going steadily up.  That wasn't the case with bitcoin when it happened.  It was stalled out at around $10k for quite a while.

[figmentofmyass]

2 days after the crash, there was a difficulty adjustment. the difficulty rose by 7.31%. and so far, the difficulty is slated to rise again by 4.64% on the next adjustment. https://btc.com/stats/diff

so......what hashrate drop?

There was a sudden drop in September 22nd, right before the mini-crash. But it fixed itself quickly.

It can be checked here: https://www.blockchain.com/charts/hash-rate

It looks like someone was wanting to repeat the crash that happened in 2018, but it didnt go well.

i don't think there really was. there was a period of several hours where few blocks were found---totally normal per bitcoin mining's probabilistic distribution and happens all the time.

a couple sites like blockchain.info use shitty metrics to estimate hash rate that only account for the target interval over a very short time period---not really indicative of the actual statistical mining distribution. so they misinterpreted this hours-long period as a huge drop in hash rate.

if you look at the chart you posted, you can see a very similar event in mid july. do you really think the hash rate dropped 27% over 7/16-7/17 then rose 50% the next 2 days? that seems doubtful. more likely another case of bad estimation. there's a reason why blockchain.com's hash rate chart looks so incredibly volatile---bitcoin's difficulty adjusts every 2016 blocks rather than every 144. blockchain.com's estimates are even worse than the latter because they go by 24 hour timestamp rather than # of blocks.

[bittraffic]

You can see the idea though that whenever big amount of BTC goes to an exchange, normally are going to be dumped or perhaps will be used to buy some altcoins or USDT. Speculations are like rumors which has tiny bits of truths to it. Anyone will see whichever what they wanna see and falling prices are normally the cause is dumping which will lead them to believe manipulations.

[Vantix]

You can see the idea though that whenever big amount of BTC goes to an exchange, normally are going to be dumped or perhaps will be used to buy some altcoins or USDT. Speculations are like rumors which has tiny bits of truths to it. Anyone will see whichever what they wanna see and falling prices are normally the cause is dumping which will lead them to believe manipulations.

Seems logical but how do you exactly can tell when someone is moving big amounts of crypto into a exchange? Is there any public data available to tell this or it's just guessing?

[Flor1982]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

If this value is true then probably this will be one of the reason of why bearish market continue. 1 Billion dollar is a very huge money that it can really manipulate the market movement either to make it fall or to make it soar high therefore If it was used to buy Bitcoin then maybe the price is now $15k as more people will be attracted to invest  but its looks like the reverse as we move deeply down to $8K because more peope did panic.

[Deborah Christine]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

If there is no valid evidence then that is not true news. Everyone can make a lot of news about bitcoin. But make sure the news has valid proof like proof of transfer, etc. There are many speculation about why bitcoin falls. Right now it seems like investors are really panicking so they sell their bitcoin and cause prices to fall. But soon Bitcoin will definitely rise again.

[Malsetid]

I read of someone transferring a billion dollars worth of bitcoin and some people speculated that if it hits exchanges, it would cause bitcoin to drop.Do you guys think this is the cause or maybe it's just a bear trap?

If there is no valid evidence then that is not true news. Everyone can make a lot of news about bitcoin. But make sure the news has valid proof like proof of transfer, etc. There are many speculation about why bitcoin falls. Right now it seems like investors are really panicking so they sell their bitcoin and cause prices to fall. But soon Bitcoin will definitely rise again.

Who knows it's a legit information to consider mate, and although it has not been confirmed though possible verification or fact check should be done. Some made lots of speculative news or article but it's not guaranteed believable. What's bad nowadays fake news spread worldwide specially at social media and on several websites, that's why the circulating information can be trending to anybody.

Yeah and i don't think a lot of people would take the time to go through the btc transactions and track down the wallet address where that came from. It's not going to chance any facts and events that have already happened. Of course an amount like that would definitely cause an immediate effect on bitcoin's value. But it happens everytime. It's not a special case anymore. It's not going to do us anything if we know which single transaction caused a pump or a dump.