Is this why Bitcoin is crashing?

[Chris Barth]

"September is typically a bad month"

I doubt this. Crypto doesn't rely on any month. Every price depends on the market and not the month. However, it may seem you're right, but, I doubt. 

[pixie85]

People who want Bakkt to trade high from the beginning don't know that this platform is only going to look good for big players. Small fish have other futures and don't need regulated platforms with 1:1 backing.

Big players won't enter on the first day they need time to muster. All similar platforms to bakkt that launched on traditional markets needed months to gather clients and did bad on their first day.

[Questat]

"September is typically a bad month"

I doubt this. Crypto doesn't rely on any month. Every price depends on the market and not the month. However, it may seem you're right, but, I doubt. 

There’s no correlation about this one aside from the ghost month, but there’s a study that some months are not good on a stock market but I doubt if its also applicable to cryptomarket. The dump on the market is still unpredictable, there are so many instances to consider and we don’t know if they’re the real reason or not.

I'm sorry but just like to correct that August is the gosht month, not September.

I know a lot of presumptions and blaming why we suffer this market crashed. It may be it is all about time that crypto market needs to settle down from where it is the right price for them. Cause in my self, I'd never think that $20k is a fair market price. We could just reach that price because of hypes but what we have now, we could say that whales aren't making such a thing which good to prevent from losing. The market volatility remains and it is good enough.

[rodel caling]

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?

Not meaning Semptember is bad month for bitcoin up and down or tgeir price is depends on the demends not for the bad months. Maybe the number effect of bitcoin price crash drops is because of the BAKKT news trends so therefore no need to worry this situation is part of the negative trends news, for sure after this all will gonna goes fix and bitcoin is goes back into the normal.

[UNOE]

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 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.

Your points are valid because you can not really attribute the price of bitcoin either increasing or decreasing unless it is either Christmas time or New years. Chinese or other wise.
But pointing out Bakkt might be a culprit is highly related to what happened since it did occur at the very same time from its launch.
Was it a coordinated attack on bitcoin's price from what the $1.2 billion usd worth of bitcoin that was sent to an exchange?
You make your own opinions on this revelation from the previous threads I responded to on the issue.[/list]

[suzanne5223]

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 reason why bitcoin crashed was not that it experienced speedily surge in price in the year 2017 nor was this month a bad month but the current crash was the market correction that usually happens before bitcoin halving.
Bakkt was not implemented to create surge in the price of the market but security and assurance for investors.[/list]

[minersday]

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 don't really think these are the main reasons why Bitcoin is crashing. It is quite unfortunate that the month September  happens to be the particular month in which Bitcoin market usually experience crashing.  The particular reasons causing this crash are currently unknown. Assumptions can't be taken as the main cause of this crash...

[error08]

Bitcoin price tumbled under $8K on September 27th and has since slowly recovered back to prices between $8,200-$8,300.
Yeah, whenever bitcoin futures contract going to live, we will see such movement on the market, the timing of Bakkt and bitcoin price drop was relevant.
Despite it's related to Bakkt or not, we will see bitcoin prices will spike due to the fact that physically delivered futures require the actual purchase of bitcoins, which means that actual bitcoins are held in Bakkt’s warehouse and will be delivered at the expiry of the contract. Imagine, if you are one of those bitcoin futures investors or traders, you may want to buy bitcoin contract at the lower price and end up with the higher price at the moment it's delivered to you. Well, if you win the contract.
Bitcoin may enter the recovery zones by the year’s end. So, buy more bitcoin or hold on until then.

Why did you put this link? We can't access your article, registration is needed...  

Yeah, because we have to pay at least $9.99 to access all "pro-exclusive" articles.  - Hold on! This is for Crypto Trader Pros Only! -

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...  

Just read this news and its state; Even with today’s sluggish crypto prices, the SHA-256 hashrate has remained unscathed and continues to show persistent growth.
Full article

[Darker45]

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?

Indeed, "crashing" is too harsh a description to a dip which may be worse than before but definitely not as worse as a crash.

Well, the link is apparently a bait for the site which is obviously looking for subscribers. I din't proceed signing up. My sole intention was to curiously read another new theory or speculation about the price drop.

• Somewhere in August and September there is what the chinese call as Ghost Month. And knowing that these people are very superstitious even in business and finance, they observe so many dos and donts, during this time when they believe the gates of hell are open. But I don't think it could influence the market the way the huge drop happened.
• Same with Bakkt, it could affect the market but not that much. Not to mention that Bakkt took off in a low-key manner and with a very moderate volume.

[MonsterV]

• Somewhere in August and September there is what the chinese call as Ghost Month. And knowing that these people are very superstitious even in business and finance, they observe so many dos and donts, during this time when they believe the gates of hell are open. But I don't think it could influence the market the way the huge drop happened.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

[3x2]

Gold hit 1800 in 2018 thus making it the most over valued asset and that time in same year bitcoin was recovering and still recovering. Just suddenly this week the Gold crashed hard and silver became the worst, So Bitcoin was not an exception the market thus crashing further more.

Some analyst at Gutenberg predicts that this year we will see bitcoin falling below 4000  usd, I personally dont believe this and dont want this to ever happen, but who knows..

[shoreno]

• Somewhere in August and September there is what the chinese call as Ghost Month. And knowing that these people are very superstitious even in business and finance, they observe so many dos and donts, during this time when they believe the gates of hell are open. But I don't think it could influence the market the way the huge drop happened.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

i think i also heard that before but what i know is the year 2017 is the best year for cryptos because all coins are pumping that time  especially on the last quarter of that year  .  back on that ghost month that you guys talking about , that could be the other reason on why the price of btc and other cryptos are falling this month because there are also a good number of chinese investors but as soon as this month have passed, hopefully we can see a recovery again  .

[th3nolo]

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?

End of the CME and CBOE futures, the Bakkt Fiasco and well the descending triangle and the gap on the chart... if you're looking at the situation in terms of trading perspective.

I feel the trading War between the US and China was the main driver of the surge in the Bitcoin price the last months this correction is healthy for the price if you're into this long term.

to be honest 7400$ is a great level if the price touch there again I will buy more.

[ardentvolcanoes]

• Somewhere in August and September there is what the chinese call as Ghost Month. And knowing that these people are very superstitious even in business and finance, they observe so many dos and donts, during this time when they believe the gates of hell are open. But I don't think it could influence the market the way the huge drop happened.

Well I think so too, but I still don't believe that August and September will be a ghost month because I'm not a Chinese myself. But after I trace history of bitcoin from year to year indeed average bitcoin falls every September as in 2017 where bitcoin fall from $4800 to $3000 in September and it again convinced me that Chinese trust had a great influence.

Chances that investors who believes with this kind of superstitious things would mind investing around, with the bleeding that we are experiencing change everyone's position. It's needed to be assess and find conclusive things that affects the market situations aside from speculative opinions. if you have a long term goal this current market fall gives you bigger chance to invest with bitcoin and hold those cheap price to grab more.

[Youghoor]

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?

This is not the first  time the price of Bitcoin has dropped and its not gonna be the last time.  What people need to understand is that, the rise and fall of the market value of Bitcoin is actually the nature of the bitcoin market and the underlining reasons or causes for the rise and fall are not really unknown or seen. A lot of people have their stories and theories behind this rise and fall.  As a Bitcoin investor, you just have to study and observe trends to help you know when to sell or buy to increase your proit portfolio and minimize your lose potential...

[cryptomarketyourself]

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.

I don't mind paying for good content - makes me smarter

[Leonardo7]

The article didn't write anything technical, just mention Baktts Bitcoin Futures and lack of much interest in buying cryptocurrency, but we have a mass of persons signing up for new wallet daily and many seminars are going on. What is happening now is normal. 

[Saint-loup]

@cryptomarketyourself You don't need to post several posts in a row to say that, it's forbidden, one post is enough. If you want to save us some bucks as you say, you should copy and paste the full article here...

[error08]

~snip~
Yeah, because we have to pay at least $9.99 to access all "pro-exclusive" articles.  - Hold on! This is for Crypto Trader Pros Only! -

Hi there mate - sorry but I didn't realize I was posting an only pro-members exclusive article. Like I've said to others, I don't mind paying for good content. My bad!

But hey I saved you guys some bucks then by summarizing the article!  

Yes, thank you for the summarize, maybe next time a good thing to cite all the article for better reading comprehension.
So we can judge whether it has good content or just a vaunt looking for the subscriber, as we can get such content on many webs and there are tons of free article out there.
However, by the point "September is typically a bad month" makes me wonder, what is the correlation? it's not so relevant to be claimed "pro-exclusive" imho.
But, I do agree regarding Bakkt thing, like many other free articles mentions.

[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. that has nothing to do with the price drop. it was purely a small panic sell followed by a ton of FUD and manipulation to trigger the subsequent sell offs at larger scale to cause such a gigantic drop.
it is also another step in the accumulation phase to push the price low like this to buy cheaper coins in that short window of opportunity before the price jumps back up and enters the bull run.