Is this why Bitcoin is crashing?

[LeGaulois]

@cryptomarketyourself

There's no point in saying September is usually not a good performing month. Even if that were true, it would have been in the 5-10% range.
It doesn't explain such a high drop just in some hours. I didn't really follow the news this week except here but I find strange that the same week:

A) a group of media outlet started to spread the FUD about the network hashrate. Clearly to manipulate opinions
B) Bakkt finally starting after many months of speculations.
C) A point @Carlton Banks raised in another topic with what happened to the mempool just before

Bakkt as an event is a flop! As for what we are really waiting for from it (the mass investments) it will take months to see a result (either positive or negative). But an interesting question is:

Could it a manipulation against Bakkt? or is Bakkt itself a point of this manipulation?

@Herbert2020

Bakkt is actually doing very well considering it is brand new and less than a week old. the volume has been high and growing.

Not difficult to make higher, when the previous point is zero  

[1714818002]

1714818002

[fiulpro]

I think it is because Bitcoins was up and reached a all time high for this year apparently and people feared that it will go down too soon therefore they encashed also at the same time it was static for a while because everyone was expecting a good return but then again.. people don't have patience .
Unfortunately if we could have just waited it would have gone up !

[bellicose]

It’s hard enough to explain such a bitcoin volatility. But after all other coins always follow him and only a few can show a short-term price increase. I think this is an ordinary speculation to eliminate hamsters.

[boris2470]

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

• September is typically a bad month

[/b]

• Baakkt is not doing very well
• It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

• I don't think it is about September. In September, 2017 Bitcoin was rising speedly.
• It may related with BAKKT. But I am not sure BAKKT can affect BTC's price this much.

The purchase of Bitcoin takes place on the Bakkt platform and the sale on exchanges that greatly lowered the price. I began to realize that Bakkt was useless and even hurt Bitcoin, right?[/list]

[kidoseagle0312]

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

• September is typically a bad month
• Baakkt is not doing very well
• It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

I saw that after Bakkt launched in the past 23 of September 2019 many were affected by the sudden collapse of Bitcoin followed by most crypto or altcoins, many were disappointed and many more took advantage of buying potential coins while lowering prices further that's bitcoin. But for me it doesn't matter if you really believe in the coins you hold today.

[JohnBitCo]

• Baakkt is not doing very well

Thoughts?

Before jumping to a conclusion on bitcoin crash reason, we need to determine what was the expectation from bakkt ?
Many people thought that the bakkt will launch , the marketcap and volume of bitcoin will increase enormously as institutional investors will enter in to this market. Yes, they will invest but no one said that it will happen on the first day or the first week. We need to give some time to this new platform for bitcoin futures and only after sometime we may see positive results for crypto currencies.

[NewBet]

I don't know if that's why Bitcoin is crashing but if you look at the chart it went up a lot recently, so maybe it makes sense that we need a price correction before we go to the Moon!

[meanwords]

Isn't it great? We can have all those Bitcoins those weak hands sold. That hashrate drop news one of the reason why whales is able to make a move now and those who bought the news will regret it later on.

Although the news of Bakkt is hyped like a madman and died out eventually, in the long run, it will help with the adoption of Bitcoin which will cause the price to increase again.

[ajqjjj]

I don't know if that's why Bitcoin is crashing but if you look at the chart it went up a lot recently, so maybe it makes sense that we need a price correction before we go to the Moon!

All are listening the market so went up slowly and it looks gradual hype on every month. But current dump is unexpectedly happen so all are still waiting for gradual pump. Bitcoin will going to moon and when it will raise gradually is the more important statement. Traders are little drawback in current scenario so once it will forward slowly again everyone believe it will going to moon.

[skarais]

I think the current situation is normal for cryptocurrency prices, especially bitcoin.  This is a natural market reaction after a while in sideways conditions.  There will be some improvement after the dump, and I also don't believe that bakkt has resulted in a big price reduction now.

[coin-investor]

Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

• September is typically a bad month

[/b]

• Baakkt is not doing very well
• It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis

Thoughts?

• I don't think it is about September. In September, 2017 Bitcoin was rising speedly.
• It may related with BAKKT. But I am not sure BAKKT can affect BTC's price this much.

There is nothing in the article that clearly explains why the price is dropping, and about the September issue, nope I don't think so in fact September in the year 2017 is a lucky month for me this is the month of that year where Bitcoin is peaking and I guess it's for us all who experiences the peak in 2017, maybe it's about the Bakkt not getting acceptances from holders, but it still has a future, it's just a slow start. [/list]

[Zemomtum]

The fall in price has nothing to do with the Bakkt, this has be re-occurring for years and volatility is part of the crypto game. If you indeed want to be successful in this space, you need to stud how to protect your profit

[Mandoy]

Though this thread was made last september it kinda made me smile. Anyway I dont believe the drop last september was really caused by those listed by the author. The real reason for the drop was of course somebody who has a huge asset sold his bitcoins in one of the exchange. There was actually a thread talking about that last month. But there was really nothing to worry and though we dropped below 8k$ but right now we are back above 8k$. This is just a normal flow of the market and there is nothing to worry.

[crzy]

The fall in price has nothing to do with the Bakkt, this has be re-occurring for years and volatility is part of the crypto game. If you indeed want to be successful in this space, you need to stud how to protect your profit

Also learn to be patience and we know bitcoin is the best coin in the market yet its volatility is also high. We can’t say that September is the reason of the dump because its not a ghost month and we can’t say that BAKKT is the reason because we wait for that. Hard to explain the dump right now, don’t focus on that and start looking forward for the up trend after this downfall.

[sandra_x]

Bitcoin does its own thing, often not inline with predictions. BAKKT will dubbed to be of huge benefit to the price of bitcoin as it was supposed to bring institutional funds to the space. It flopped. We may have to wait for retail investors to gradually adoption bitcoin to a larger degree.

[Reid]

Is this a Baakt promotion?

Okay, why tell that back is not doing well and yet bitcoin is falling?
Should be the other way around right?
Baakt rising means there could be sellers of bitcoin in exchange for it. Transferring their money to produce a hype in exchange for profit in the long run.
September is a good month. Some may have received their bonuses to buy bitcoin and also this is where people spend more money.

[airdnasxela]

The word crashing is just too much to describe the price. It ain't even crashing. Yes it's dropping but it's moving slowly.
Well regardless of the reason why bitcoin's price is decreasing, it's just normal because we all know that bitcoin is volatile. If it's about September (well what's with September why it's a typical bad month?). Or if it's because of Bakkt or not. It's not like we're surprised about the movement of bitcoin.

[fortunecrypto]

The word crashing is just too much to describe the price. It ain't even crashing. Yes it's dropping but it's moving slowly.
Well regardless of the reason why bitcoin's price is decreasing, it's just normal because we all know that bitcoin is volatile. If it's about September (well what's with September why it's a typical bad month?). Or if it's because of Bakkt or not. It's not like we're surprised about the movement of bitcoin.

People will never get tired of predicting and speculating and giving reasons why Bitcoin is going down up and down, it's a never ending cycle of theory, the discussion and the buzz never ends, Bitcoin is now down 8.54% the lowest in a month, now let's see what the theory or reason would be this time.

[boltz]

Could be one of that reason but for me its clearly a price manipulation at big levels in order to gather a lot more bitcoins from those who don't want to sell it so a panic dump would make them think again. What we see right now is a panic sell from most of the traders and holders and I bet the whales are so happy with the effect of this dump who is not gonna end until the end of the month. Also the conference with Libra's project can be a reason too...because it represent a problem for the monetary system and banks system and they are all against cryptocurrencies ... ( at least his is what I'm hearing in the live video ) .

[whyrqa]

Could be one of that reason but for me its clearly a price manipulation at big levels in order to gather a lot more bitcoins from those who don't want to sell it so a panic dump would make them think again. What we see right now is a panic sell from most of the traders and holders and I bet the whales are so happy with the effect of this dump who is not gonna end until the end of the month. Also the conference with Libra's project can be a reason too...because it represent a problem for the monetary system and banks system and they are all against cryptocurrencies ... ( at least his is what I'm hearing in the live video ) .

The fact is that for the whole of October in the media a lot of negative information appeared regarding certain cryptocurrencies and new projects, which very poorly affect the pricing of even the most promising coins.  I agree with your opinion that this situation was provoked specially so that big Whales and speculators profit from the panic mood of cryptocurrency users.  I am quite sure that by the end of the year we will have the best indicators in the market and the current situation should be corrected within a few weeks.