Reason for current bloodbath

[kolonel_x]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

The news is only FUD CEO Binance @CZ has given his tweet on twitter: https://twitter.com/cz_binance/status/1197673244452478976 so the decline is not due to that influence, and I think this dump was done by the pope and many are panicking so many sell and then the whale is ready to buy it to face halving.

[kaya11]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Strategies here and there I guess,  If the whales really had the power to turn the tides then this is it. After this and the halving is done, who do you think is the one that wins this game? The whales are, this just a repetition of the past, people will sell due to panic and then lose money, again later on they cry and buy bitcoin again with high price that the whales are selling bits by bits.

[kryptqnick]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Nah, it's too early for that. Halving is not for months to come, and the dump should happen (if it follows the pattern of the previous one) after that. So clearly, that's not the reason. Binance Shanghai office getting closed by the police could do the thing, on the other hand. Hopefully, though, if this is the reason and the info about the CEO is true, it will not last for long. According to this, there was no police raid and no office is closed, it's just fake news encouraged by Binance competitors. The prices took a big hit, and I think that the future depends on who's telling the truth.

[Hamphser]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

No need to panic because everything is just a normal occurrence for this month. Some experts say that in 2020 there will be a great bullish price to come and some predicted that the price of bitcoin may rise beyond to its last ATH price. But i still can't see the reason if what they said is true because the trend today tells me that it's impossible to predict the future.

[DreamStage]

If we follow previous years we notice some trend meanwhile this season (November, December, January) where prices flows right to the bottom.
Everyone (as always) will think BTC is crashing which causes more fuzz.
This fuzz makes even more decreases as people keep rumoring about it and sell immediatly as a solution to their stress and trust on price grow.

Altough i also think one of the reasons has to be with Binance's Shanghai office shut down as there were alot of investors and this can have their repercussions.

[teosanru]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

I think this was a situation which should have arised around a month ago. BTC had it's death crossover on the daily chart and people were almost sure that it would go down. Then all of sudden it surged 30% in a day creating a sort of artificial pump which made people sure that we are out of the mess but once again after a bit surge the Death crossover on daily chart took place and we are once again standing the same situation. I don't think this one is an artificial dump.

[target]

Seem all are just manipulation including this news about binance office in Shanghai which is not really true and then there is this China disposing exchanges. Probably just a price manipulation to give another chance for the institutions who had not been investing more on BTC to get into it right now before its too late for them. Cryptocurrency is just too ripe for the picking and with the coming halving, this is got to be the whales message to say get on board!

[maianh09]

There are currently reports from China that as many as 39 crypto exchanges have been banned, so investors have moved to sell their assets and withdraw money. I have not verified if this information is true, but I feel that is a good reason for the collapse of bitcoin this week.

[Pearls Before Swine]

In bear market when many are selling, many are buying the same.

While that is true, that for every sale there is both a buyer and a seller, in bear markets there are more sellers than buyers, and sellers are willing to sell at increasingly lower prices.  That's how it works.

This isn't a bloodbath, by the way.  If bitcoin had dropped to $4000 since wednesday, then I would be willing to call it such but it wasn't that bad.  It was *kinda* bad but could have been a lot worse.  It might even get worse but I'm hoping not.

Everyone (as always) will think BTC is crashing which causes more fuzz.

Fuzz?

Yesterday the police closed down Binance office in Shanghai.

That's interesting, and I'll have to check out the article to see why that was done.  But as far as its effect on bitcoin, I don't think one office being shut down would have much at all.  We've seen entire exchanges go bust before without causing bitcoin to fall much, and there's got to be a better explanation than this.

[darkangel11]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

Yesterday the police closed down Binance office in Shanghai. According to Cointelegraph this was the reason bitcoin price went down. I'm not 100% sure about it, but this news definitely influenced the market.

Fucking cointelegraph and other stupid so called reporters. All they can do is repeat stupid tweets after some random people from China. They can't translate it, can't confirm it, don't want to spend some time actually paying an unbiased chinese person to do it for them...
Crypto community should boycott these FUD sites. Zero tolerance for bad journalism.

https://twitter.com/boxmining/status/1198009174883360769

Once again, Binance was not raided.
CZ confirmed it too. Unless he's not afraid to lie to the public there was no raid on his exchange and the more news from China I read the more it looks like cointelegraph is lying here.

BTC dump now is normal after BTC suffered a pump a month ago, and now things are back down.

It's normal! 

[Coin_trader]

Seem all are just manipulation including this news about binance office in Shanghai which is not really true and then there is this China disposing exchanges. Probably just a price manipulation to give another chance for the institutions who had not been investing more on BTC to get into it right now before its too late for them. Cryptocurrency is just too ripe for the picking and with the coming halving, this is got to be the whales message to say get on board!

I agree on your opinion. The volume of BTC in Bakkt during bloodbath always plummeted and this os not a coincidence. Institutional investors are manipulating price  to enter lower in BTC. This BS greedy don't care about crypto but only think for there personal gain. I already halt on trading because there is no strong support near the current price level.

[AliMan]

Seem all are just manipulation including this news about binance office in Shanghai which is not really true and then there is this China disposing exchanges. Probably just a price manipulation to give another chance for the institutions who had not been investing more on BTC to get into it right now before its too late for them. Cryptocurrency is just too ripe for the picking and with the coming halving, this is got to be the whales message to say get on board!

I agree on your opinion. The volume of BTC in Bakkt during bloodbath always plummeted and this os not a coincidence. Institutional investors are manipulating price  to enter lower in BTC. This BS greedy don't care about crypto but only think for there personal gain. I already halt on trading because there is no strong support near the current price level.

Always stay calm and don't take a serious attachment on current bloodbath, and as long as manipulation always dominates there's no way to handle it over. Greediness will always create more chaos, that's why we need to overcome fears instead of ranting at worst cases. Hopefully all of the speculations regarding the support for bitcoin, could establish a huge potentials in the upcoming year 2020. We should wait for the whales to take over the corrections and help the price bounce higher.

[Dart18]

Too early yeah.
But as they say also, before December this kind of thing really happens.
I guess that was also before the halving at 2016.
I have read it once in trading section and there are graphical images. Just cannot see the thread anymore.
But, it looks like this is just the start for them to buy at a cheaper price.

[kanayaTabitha]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

There was a news from china that said china's central bank are anti with cryptocurrency that made bitcoin's price dropped significantly. The bad news from china is always succeed make the price of bitcoin fall down. And also based on the chart history, december will always bad days for crypto because many people are cashing out and sell theirs.

[Barbut]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

There was a news from china that said china's central bank are anti with cryptocurrency that made bitcoin's price dropped significantly. The bad news from china is always succeed make the price of bitcoin fall down. And also based on the chart history, december will always bad days for crypto because many people are cashing out and sell theirs.

Every once in a while we have some bad news from China, and every time people think that this bad news are affecting the price in a negative way. Maybe it's true, maybe not, I think that we give them too much credibility, but who knows. We have been in similar situations many times, price drops without any reasonable explanation. I don't like conspiracy theories, the price is down and we can't do much about it except to buy the dip!

[bakasabo]

There was a news from china that said china's central bank are anti with cryptocurrency that made bitcoin's price dropped significantly. The bad news from china is always succeed make the price of bitcoin fall down. And also based on the chart history, december will always bad days for crypto because many people are cashing out and sell theirs.

I dont believe that cashing out can drop the price so much. Like in 2018 people started to cash out for Xmas, NY, Chinese NY; all the holidays have ended, but the prices remained to go down.

[Bitcoinwaist]

We are getting close to the bottom imo. If price breaks below $6k for an extended period, the overall uptrend of the last 10 years will be broken.
This was from a tweet from Tuur on twitter. Now is the time to start scaling in and buying.

[danherbias07]

Pre-halving is equal to bloodbath and post halving could be the green light for selling again.

But as they say, this could be another manipulation. A month ago there have been rumors about a no manipulation trend. They will not do it.
We expected it so we hold, but then again we are tricked.
Looks like the whales are getting more witty as time goes on.
They know people are going to expect for a price dump and so they still did it. A new wise strategy.

[Naficopa]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

You're right, it's too early to dump before the bull run. I think this is not a real dump, but just a test of market situation. Whales just check how big panic they can make and how deeply they can lower the price. We'll probably see a few more such attempts before this real dump.

[kapalmabur]

We have seen a overall bloodbath of all the crypto currencies and bitcoin being no expectation, but most of the users had predicted a dump before pump which could possibly happen post halving but isn't it too early that we are witnessing this dump? What do you think has created this dump?

as far as I know this is because the Binud office FUD was closed in shanghai because of the police,
I don't know why they did this FUD do they not have a heart ?,
whereas CZ said if they did not have an office there, this made everyone disappointed with media!