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Author Topic: Is this why Bitcoin is crashing?  (Read 517 times)
cryptomarketyourself
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September 27, 2019, 05:43:46 PM
 #1

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?
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September 27, 2019, 05:48:38 PM
 #2

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.
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    September 27, 2019, 05:53:37 PM
     #3

    Guys - chill out. BTC is still at 8K. It's not like it dropped down to 1K.
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    September 27, 2019, 06:01:14 PM
     #4

    If you're not okay with market volatility get out of crypto. It's down because it's part of its natural cycle.
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    September 27, 2019, 06:09:10 PM
     #5

    The whales are selling - they might want to buy new cars or something. chill out - hodl and surf the wave.
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    September 27, 2019, 06:36:33 PM
     #6

    The whales are selling - they might want to buy new cars or something. chill out - hodl and surf the wave.

    If anyone goes in-depth and check for volume traded on exchanger can open your mind. Very high volume is selling. It means people are removing their investments by taking profit.

    Guys - chill out. BTC is still at 8K. It's not like it dropped down to 1K.

    Basically Bitcoin have "0" value for a person who doesn't know it. So just chill still there is long time to go to become Bitcoin's price stable globally.


    If you're not okay with market volatility get out of crypto. It's down because it's part of its natural cycle.

    In the digital world, nothing is natural, everything is predefined, predetermined and prespecified.

     
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    September 27, 2019, 06:47:32 PM
     #7

    The whales are selling - they might want to buy new cars or something. chill out - hodl and surf the wave.

    If anyone goes in-depth and check for volume traded on exchanger can open your mind. Very high volume is selling. It means people are removing their investments by taking profit.

    Guys - chill out. BTC is still at 8K. It's not like it dropped down to 1K.

    Basically Bitcoin have "0" value for a person who doesn't know it. So just chill still there is long time to go to become Bitcoin's price stable globally.


    If you're not okay with market volatility get out of crypto. It's down because it's part of its natural cycle.

    In the digital world, nothing is natural, everything is predefined, predetermined and prespecified.

    If they were taking profit, they were late in dumping since they should have dumped when price was more than $12k. This is more like making those who bought BTC at the price when BAKKT was launched to sell in panic, you can really say crypto is very much manipulated not just by the whales, this is predetermined by what they see in the chart as well.



     
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    September 27, 2019, 06:50:48 PM
     #8

    Bakkt was an event. Have you heard "sell the news"? Well, Bakkt was the news to sell, seems pretty obvious. Now, to know if Bakkt is a big mover, it will take some time, those things take time. The hashrate FUD via hashrate charts crashing, may have triggered weak hands coupled with the people that expected Bakkt to break the triangle to the upside. Add in anything else you want in the formula (september, and other things) and you will end up with a snowball effect going down. What can you do?

    Plan your entry levels, and be ready for very low prices. Identify those as opportunities and not as a curse. That is how it goes in Bitcoin.
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    September 27, 2019, 07:00:50 PM
     #9

    September usually is the month when people are hyped up to buy some for their stash, though unfortunately this is not that September that we're looking. As for Bakkt, I agree that it performed lowly of what was expected of them, but that's normal IMO knowing that some people would still love to trade where there is liquidity and price action. Some have just started selling and others followed suit, as what usually happens when there are big crashes such as this one that we're having right now.

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    September 27, 2019, 07:14:31 PM
     #10

    Price of bitcoin dropping down slowly. Several incidents were stated for the drop in price within few days time. There is nothing as September is bad for Cryptocurrency and other few months were good. There is big expectation over the Bakkt, but this didn't gained good response. As other years, this year too the growth has taken place and what we experience is higher than the expectation. This growth will get recovered.

     
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    September 27, 2019, 07:30:10 PM
     #11

    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.
      I don't think the market grows or dump depends on the time of year. I realize that the market has grown four times higher than Q1, so this is the time when the whole market corrects in price.
      Baakkt may not have created a good trending, so it is and is also negatively affecting the entire cryptocurrency, however many whales take advantage of this event to control the market, making things worse.[/list]

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      September 27, 2019, 07:42:03 PM
       #12

      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'm not going to subscribe just to read the article, that's crazy. I'm sure the Bakkt news could be a big part of the reason for the sell off, of course in this sector who really knows. I knew it will fall a bit though do to the slow decline, I guess it will be the "Bad News Bear" for a while until something big happens to drive the price in the opposite direction upward.

       
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      September 27, 2019, 07:51:07 PM
       #13

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

      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?

      If "crashing" isn't the right word (it isn't), why did you use it? It went from 10k into 8k, so a mere 20%.

      September a bad month? Then it means the Chinese still have a strong position in the market. It is them that keep following those superstitious beliefs.

      Over-expectancy of Bakkt or actually executing the plan as intended? Futures is about betting against bitcoin and they clearly want to get the ball rolling, but the trend will reverse, and then...

      Indeed it started the year at around 3k, so its doing great.

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      September 27, 2019, 07:59:34 PM
       #14

      How certain are you to say that September is simply a bad month for cryptocurrency? I don't think so though.
      No month is specifically designed to be good for cryptocurrency, people emotional behaviour towards it determines it price.
      And as for Baakkt not doing good; we can't conclude for now, as it was recently launched. The price of Bitcoin is just dropping because some are selling and other are sacred they might lose, thus, the rush to sell too.

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      September 27, 2019, 08:03:18 PM
       #15

      Bitcoin is volatile, therefore don't bank on it without considering its volatility.  The fluctuation in the price of commodities in the market is the joy of trading. This is the best moment for certain investors. Trade with caution and don't be selfish in the profit when it falls in your favor. The prize of bitcoin will drop the more to enable more investors to dive in while others abandon the market.

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      September 27, 2019, 08:10:42 PM
       #16

      • It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis
      Ding ding ding!!  Whenever bitcoin tanks hard and fast, I always make it a point to keep things in perspective.  I wasn't exactly an early adopter, but I've been around bitcoin since it was below $200--and dammit if I don't regret hoarding all those coins I bought from Coinbase and Circle a long time ago.  I could have been rich-ish.

      Not sure about the Bakkt thing.  I know there was a lot of talk about it and probably some high expectations, but who knows.  Bakkt could be contributing to the drop, but I just don't know.  The timing was certainly right.

      How certain are you to say that September is simply a bad month for cryptocurrency? I don't think so though.
      They say things like that about the stock market, where toward the end of the year there's a lot of selling because investors want to write off losses on their taxes.  I'm not so sure everything is as predictable as they say, however.  If it was, there would be a lot of folks taking advantage of what's basically inside knowledge.  I've come to believe that there's nothing certain with investing--not in the stock market and surely not in crypto.

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      September 27, 2019, 08:18:33 PM
       #17

      To be honest I wasn't really expecting such a drop in price of btc considering all the latest updates of different companies accepting in their business, I was actually looking forward to an increase but it is never certain with crypto, at times like this I find it difficult to look at my portfolio, it makes my heart skip  Embarrassed

      Saint-loup
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      September 27, 2019, 08:32:08 PM
       #18

      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?
      Why did you put this link? We can't access your article, registration is needed...  Undecided
      Well I think the hack of the Lightning Network, the Google quantum computing exploit and the very low volume on Bakkt at its launch are the main culprits of the crash... The big dip in the hashrate wasn't a good news too... 

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      Dread Pirate Roberts
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      September 27, 2019, 08:38:59 PM
       #19


      • 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 think bitcoin is not affected by what month it is, but to pure market activity and also if compared to last year this month is the month where bitcoin rises rapidly.
      When compared to last year's profit, it is clear that bitcoin is still a profit, but for some new adopters and new holders, it is undeniable that they are panicking with their assets.


      Guys - chill out. BTC is still at 8K. It's not like it dropped down to 1K.

      You can't say that because those who trade here they put their money to get profit instead of losing it so it goes down to 20% from 10k I think there are some people who feel lost and panicked that price can go down again and lose the chance to buy at a lower price later.

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      September 27, 2019, 08:58:44 PM
       #20

      I very much agree.News about Bakkt was over hyped
      But first massive sell off came after the end of sec commissionaires hearing in US congress
      It was about Libra and cryptocurrencies. Libra  caused big warnings between governments
      Now there was a lot of talking about financial risk.victims of ICO, criminal aspects etc
      Libra was advertised like something great for crypto world. Even Binance and Gemini posted about his will to list to collaborate with Libra .So to list of reasons of current dump  we can add Libra case

       
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