What the heck happened to the prices?

[cryptonx]

I came a cross this video https://www.youtube.com/watch?v=9LhK5kQqON4&t=872s giving a suggestion why the prices dropped.

"Before the price dropped 20%, there was about 1.2 billion dollars that moved into exchanges. This is an unusual amount. Then on the Bitmex exchange there was a large sell order which triggered a bunch of limit sell orders, which also liquidated a bunch of people's positions. And so that is what caused the gigantic price drop. In other words, the price likely dropped because of manipulation. It is a short-term manipulation attempt, while the long-term adoption is going well. "

Maybe if the prices recover soon (as we already see green markets), this will turn out right.

maybe somebody need a huge money to buy a traditional assets such as land or house my friend
many people said if the price of crypto being manipulated, but until now i never believed, because when the price drop hard always come after a bad news show up,,
https://cointelegraph.com/news/bitcoin-network-hash-rate-mysteriously-flash-crashes-by-40

[leowonderful]

Bitmex was actually a few hundred dollars below their fair market pricing (gathered using spot exchanges) during and after the initial drop due to (mostly) long liquidations, though the gap between Bitmex's XBTUSD pricing and the market pricing eventually closed a few hours after the bulk of the dumping stopped. Liquidations definitely do amplify market moves in crypto now, especially as more people are trading using leverage than ever, but it's not the sole reason why the drop happened either. The breakdown of the bottom trendline of the huge descending triangle people were watching for weeks also made people short and sell coins, which accelerated the dumping.

[Kemarit]

Been hearing this theory after the flash crash but we really don't know if that entity has the intentions to pull the price down. But the thing is, the price is really on the oversold region for quite sometime and this huge sell order might trigger the dump and it follow by lots of speculators  who are just waiting in line to liquidate because they know that the market is ripe for a downturn. So we really can't say if this is done deliberately, but one thing is for sure market will continue to grow, it's just how you are going to react with this kind of worst case scenario and how you adjust and leverage your trading plan.

[BlackFor3st]

I came a cross this video https://www.youtube.com/watch?v=9LhK5kQqON4&t=872s giving a suggestion why the prices dropped.

"Before the price dropped 20%, there was about 1.2 billion dollars that moved into exchanges. This is an unusual amount. Then on the Bitmex exchange there was a large sell order which triggered a bunch of limit sell orders, which also liquidated a bunch of people's positions. And so that is what caused the gigantic price drop. In other words, the price likely dropped because of manipulation. It is a short-term manipulation attempt, while the long-term adoption is going well. "

Maybe if the prices recover soon (as we already see green markets), this will turn out right.

Yes, it will only be a short term manipulation attempt if it is the case as they need more than that to manipulate the price further. Though 20% price dropped is pretty bad if we will think it negatively.

Let's just hope that the price will recover soon and the big investors will start to pump the price to encourage all the small investors to follow.

[Pearls Before Swine]

Altcoin prices are heavily dependent on what bitcoin is doing, since they're all basically priced in btc.  It's very common that when bitcoin is taking a beating in the markets, altcoins are also getting hammered.  That's what's happening now.  I have a modest portfolio of about 6 different altcoins and they aren't doing so hot since bitcoin dropped to $8000.  Don't fret about it because bitcoin is rebounding and I have noticed that my little portfolio has gone up as well.

How many times are we going to treat these unusual transfers as something extraordinary? crypto is money involved so expect huge transfers to be there.

A transfer is one thing, but a transfer of huge amounts to an exchange in order to sell it is quite another.  I don't lose sleep over that sort of news, because I'm fairly sure that nobody knows where those coins are being transferred to and I'm not concerned that anybody would be crazy enough to try to sell enormous amounts of bitcoin all at once.

it seems big whales are triggering investors to panic sell.

Nah.  People give those 'whales' way too much credit in my opinion. 

[rez303]

Price manipulations are done mainly more on big exchanges, where there is so much volume, most especially for the coin in question, "bitcoin".
Bitmex is known to be the main target for that purpose.
However, if you are already caught at the middle of this, there is no need to be disturbed. All you need do is know what you want and work on it.

I think the Bitmex exchange is the place that makes the biggest volatility for this market because this is where the number of investors holds Bitcoin the most and they have complete control over the value of this coin. I regularly check the value of Bitcoin and in the last few days this coin has a big drop in price and it's really not good for our profits. In my opinion, the best solution at this time is to wait patiently because the market is now very difficult to predict and everything happens against the wishes of investors.

[Beparanf]

We can't figure out what really the reason of the last week of September bloody chart. But it's not really the first time after the big pump happened 2 yrs ago. There are already records of prices dropping then dropping but it doesn't mean that it will not worth to still hold into it since we all know that cryptocurrency is limited, once many adopts it the price will goes up because of the demand needed. We just need to analyse ways to still gain profit despite of the prices now. Pick alt that worth holding or good for trading to earn.

[PrivacyBob]

market manipulation.

[Fredomago]

We can't figure out what really the reason of the last week of September bloody chart. But it's not really the first time after the big pump happened 2 yrs ago. There are already records of prices dropping then dropping but it doesn't mean that it will not worth to still hold into it since we all know that cryptocurrency is limited, once many adopts it the price will goes up because of the demand needed. We just need to analyse ways to still gain profit despite of the prices now. Pick alt that worth holding or good for trading to earn.

If you are going to trace back those past movements, it can let you keep track to where the market will proceed. After this bloody market and after new barrier have been tested, the cycle will again start rising up. Good investors always find opportunities by taking bad market into picking gems. If you have the right path to chase and you are willing to wait for another market rise, you will not be affected that much even though your assets show some suffering in value but keeping the faith and holding it will benefit you later on.

[BitcoinHunt3r]

I think manipulation or not, people already clever to know what happen to price of bitcoin. Maybe this dump (i mean last dump) not really deep because of people who panic not much and keep make price only a little percent from early price. Maybe for bitcoin and altcoin will stay like this but  i am concern about next holiday, maybe market not have very big volume trading for a moment.

[Chiyoko]

market manipulation.

I dont think its market manipulation . more people lost interest after loosing that what i think the reasons new people that has been hype in the bull market get morethan 50% lost so it really  difficult for them to  come back if they are new with this kind of investemtn and never have experience with such a lost. but to all bitcoin holders this is normal and always happen .

[pieppiep]

I think manipulation or not, people already clever to know what happen to price of bitcoin. Maybe this dump (i mean last dump) not really deep because of people who panic not much and keep make price only a little percent from early price. Maybe for bitcoin and altcoin will stay like this but  i am concern about next holiday, maybe market not have very big volume trading for a moment.

People now become smart to think about situations. If they see that the market gets to manipulate, as long as they can make a profit, they will okay, and they will try to search for more profit. They can act related to the market, and if the market is going to somewhere, people will be calm down and wait for the next thing that will happen. But there are still many people who panic to see the dump at the market, and they cannot think that the dump will be over and that is their chance to buy more bitcoin or altcoin. After the dump, the price will be back to the higher price.

[VDraci]

You should stop expecting any crypto price to stay at one point forever, that's not reality, crypto will always be fluctuating and its left for you to learn how to take advantages of both the green and red market signs, dumping or surging there is always opportunities lying at there ends

[ivaf]

What happened to the prices? Nothing special, another market manipulation. If you study the graphs in recent years, you will see that this happens all the time.
Yes, of course, prices will recover with a high degree of likelihood. But it is also possible to continue the fall with recovery later. No one can clearly predict this.

[DevilSlayer]

Always remember about what's happening in the market is  only part of the market cycle. There are times that the price is going up, there are times that is going down and also there is a part that its price is only consolidating. Right now,  the market is down and it is because of manipulation.

[passwordnow]

How many times are we going to treat these unusual transfers as something extraordinary? crypto is money involved so expect huge transfers to be there. It can be from someone who wants to dump or wants to convert his bitcoin into another altcoin.
The manipulation thingy has been known since years ago and we're still thinking that the market isn't manipulated?

Correct! I will not even be surprised if we see transactions greater than this in the future since I'm guessing we will be looking at a big time whale or whales who had accumulated Bitcoins in the early days and did solidify his portfolio during the 2017 bull run.

These whale(s) are always looking for entry and exit points in crypto market all the time thus triggering huge sell offs and buy ins that affects crypto prices - a normal occurrence in the market. As I said, I would not call it a manipulation either way. Imho.

That's for sure, there will be whales who will start cashing out their bitcoins for profit and this is a normal scene in the community. But there's still some folks that are always surprise and putting fear to themselves by thinking a big drop will come. It normally happens so just don't expect something to be positive or be surprised if there's a huge transaction that's transferred from one wallet to another / exchange.

[Kotone]

This kind of activity is normal, dont create such fud cause everytime different people or institution are moving their funds inside or outside the exchange. Is it bad for a huge investor to move in or transfer his fund to another liquidity source or profit generator? If it does affect you, then you should think outside the box. They are also investor and they can do whatever they want. Of course market will be affected buy can you tell them not to sell, so the market wouldn't go down? If they on profit already, what can you do? See.

[sodiik]

This event I think also manipulation of the market. This will trigger people to follow the price hike by buying coins. But when coins are not sold the coin price immediately falls. If the buyer panic because it will definitely be sold at a low price.

My advice, you do not panic with a downturn. But such manipulation will occur in several different coins. I hope you can continue to monitor the market situation. If that happens, you can move faster.

[aces777]

It is normal to see fall in prices of coins, we shouldn't be expecting to see increase in the prices of the coins everytime. Whatever direction the winds blow, you should be prepared and ready for it. Always have it in mind that the market might not always go in your favor, but also always hope for the best and make good use of every market situation.

[traderethereum]

It is normal to see fall in prices of coins, we shouldn't be expecting to see increase in the prices of the coins everytime. Whatever direction the winds blow, you should be prepared and ready for it. Always have it in mind that the market might not always go in your favor, but also always hope for the best and make good use of every market situation.

That is what we need to do regarding market situations.
And with prepare, we can be ready for anything that happens later in the market.
The market will go up and down anytime, but we can follow where the market wants to go by always analyze the movement.
But if you feel that you cannot follow the market even after you analyze, then it is better to stop for a while, don't do anything and only watch the market moves.
That will better for you as you don't know what to do and I think that will save you from the loss.