Searing
Copper Member
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Activity: 2898
Merit: 1464
Clueless!
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November 24, 2019, 06:36:27 PM |
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it's the same trick at 2017-2018 when china grounded bitcoin when they are biggest bitcoin owner. dump and buy, then pump and sell, I don't want to but follow them, you'll get money, not as much but still got money. I often cut loss but still make money when buying at dip Well, China may not have caused the major dump down to $7.5K but, China with has in the past almost always, (hell, always) when China thinks BTC exuberance has reached too high a level slaps it down. This is a very common tactic. Indeed, on China promoting their own crypto coin and blockchain, it should have been no surprise the backlash against Bitcoin and Altcoins. So, I don't think the big dump was China. I do think the dump from like $7.8k to current $7.1k now contributed heavily and could indeed drive it lower, but I still think 'miner capitulaztion' is the real culprit and that will take 2-3 months for folk to realize that the tide has turned and their Bitmain S9's or equiv (about 60% of sha-256 miners if I had to guess) are gonna fall off the network. When that happens, I expect a pump in price again, with these 'boat anchors' cut loose. as always we will see brad |
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Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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Pepz79
Jr. Member
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Activity: 44
Merit: 3
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November 24, 2019, 07:29:00 PM |
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People from China always found ways to buy/sell/hodl crypto. And they will! So, China is not the reason of crash.
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mindrust
Legendary
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Activity: 3234
Merit: 2417
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November 24, 2019, 07:38:01 PM |
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People need to understand by now. These kind of artificial crashed by other entities are only good for one thing, creating buy opportunities. If China crashed crypto, so what? Just buy it. Similar events happened many times before and every time it happened, all the average Joe's out there were expecting btc to go zero. It never happened. This time is not different.
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Ryan Dugan
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November 24, 2019, 08:07:52 PM |
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People need to understand by now. These kind of artificial crashed by other entities are only good for one thing, creating buy opportunities. If China crashed crypto, so what? Just buy it. Similar events happened many times before and every time it happened, all the average Joe's out there were expecting btc to go zero. It never happened. This time is not different.
This is why people should keep their crypto and fiat at half and half. This way they can deal with up trends and down trends. People seem to forget a down trend is just an uptrend in reverse and you can profit doing the reverse then too as you have just said. It is just some patient and believe in bitcoin or the crypto you talking about. |
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cutesgirl
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November 25, 2019, 01:04:15 AM |
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Any one know what happen whit bitcoin until today keep lower price? I not get bad news and not country update information to banned bitcoin as investment assets but why price bitcoin last one week keep down.without bad information I think bitcoin can be down like today and look not raise up to higher price, possible or not bitcoin come back to lower price again under $7000 or below.
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Ailmand
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November 25, 2019, 01:15:52 AM |
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There is no way for us to verify what is the main cause, there are always theories when bitcoin crashes or rises. It could be the news in China, this could have been done by whales since bitcoin had been in a good run, or it could be something else. Nobody knows, but this kind of market situation had been normal for most people, especially those who had been through even more worse blood bath.
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Velkro
Legendary
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Activity: 2296
Merit: 1014
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November 25, 2019, 01:28:49 AM |
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I don't think China was the cause of the 'recent' crash.
I dont think that also. More on this, people always try to explain price movement in any way they see fit. Price movements depends on so many little reasons thats its impossible to predict so also impossible to tell why it move that way or the other. Just accept it, its easier that way, it will go up, then down and up and down  |
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Eugenar
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November 25, 2019, 02:36:06 AM |
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People need to understand by now. These kind of artificial crashed by other entities are only good for one thing, creating buy opportunities. If China crashed crypto, so what? Just buy it. Similar events happened many times before and every time it happened, all the average Joe's out there were expecting btc to go zero. It never happened. This time is not different.
In my opinion, it is not the Chinese people who cause the decline of the Bitcoin today, and for me, it is most of the whales preparing for the big market price hike in the latter future. Because they believe on the effect that the halving could do to their investment. And investing would be more efficient if they let the market price of Bitcoin fall, so they can buy the dip and wait for the halving to happen. That is the information we should be aware not to feel worried about the current market price of bitcoin. |
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NeironixNV
Jr. Member
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Activity: 42
Merit: 1
https://neironix.io/
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November 25, 2019, 10:41:09 AM |
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I don’t think, most likely China will now, on the contrary, positively influence the development of the cryptocurrency industry, today I read that China is starting to introduce crypto into the legal framework. https://neironix.io/news/china_searches_for_cryptography_law_breakers |
https://neironix.io/
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Lizzylove1
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Activity: 858
Merit: 13
Christ The King
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November 25, 2019, 12:56:21 PM |
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The downward bitcoin price trend can not be attributed only to the Chinese police raid of Binance office in China, some crypto mafia see this as an opportunity to spread falsehood and cause a price dump, while they themselves buy low and would later take profit. This is always the case, crash it, buy low and blame external forces, come back later to take profit.
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Fappanu
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November 25, 2019, 02:41:29 PM |
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We do not know if China is really causing the price to fall today, but if we look at the circumstances today they are very obvious. Because we can really see the impact of bitcoin price on every move they just show they can manipulate the price.
From the announce of the chinese president and the fud today at the Binance office.
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ntsdm1
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Activity: 394
Merit: 14
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November 25, 2019, 02:48:47 PM |
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Why blame China for all the troubles?In any case, those who had significant assets were guilty of a market collapse.But agree it is absurd to think that all the rich people live only in China. |
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randegibran
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November 26, 2019, 04:00:56 AM |
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Yes did, I think China have make crash of bitcoin price again and again, every time when bitcoin on higher or lower price always have China behind of bitcoin price, when bitcoin have raise up to higher price China president behind to make bitcoin up and now when bitcoin down I think China have speculative to make bitcoin lower price. |
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Astargath (OP)
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November 26, 2019, 11:14:03 AM |
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Why blame China for all the troubles?In any case, those who had significant assets were guilty of a market collapse.But agree it is absurd to think that all the rich people live only in China. It seems to be a scapegoat. It also seems that most people, including analysts, tend to ignore the fact that the market sometimes moves abruptly in one direction without any external factor. |
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AppliedOptimal
Copper Member
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Activity: 200
Merit: 47
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November 26, 2019, 12:13:55 PM |
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I think the main reason is not the news, but the fact that Asian investors and traders, those including in China, have started to sell their bitcoins before anyone else.
It created an avalanche, or a herd instinct, if you will, and caused people in the other parts of the world to sell. It is FUD at its best and it turns out the raid on Binance offices came out to be fake.
This space is still Wild West with buncha gunslingers, but it is way more mature compared to some 2 years ago.
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