Cryptocurrency market continues to blood shed

[Harrydose]

In the last 24 hours market has witnessed the superiority of the Bitcoin trading volume over the entire market capitalization of Ethereum. the volume of Bitcoin achieves $ 20 billion while ETH fell to $ 18 billion. Interestingly it was amid decreasing the value of BTC ‘s $ 8000 to $ 7500 marking a fall of 5%.

However, no reason so far justified this, The wind has turned to the reverse, due to the sudden drop encryption and this has put a great amount of pressure on Bitcoin as well.

On the other hand, other cryptocurrencies gather even more severe fate. ETH recently seemed to rise above BTC but the rapid reduction in supply, despite the addition of points to him, pulled him down on more than bitcoins.

The freefall trap has not only reached the world of encryption but all other assets like gold. The reason is not yet resolved.

Source: TheCoinRepublic

[VanDeinsberg12]

This is the reason
https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

So many people are putting a lot of their hopes in china but i personally never put a big expectation crypto to be adopted in short time. Remember about what already said by Xi-jinping is about blockchain and not crypto.

[youdacapt]

This is the reason
https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

So many people are putting a lot of their hopes in china but i personally never put a big expectation crypto to be adopted in short time. Remember about what already said by Xi-jinping is about blockchain and not crypto.

I think the fundamental factor is very strong this time, once again the PBOC issues a practical attitude, but what about their logic of separating the blockchain from bitcoin as two different entities?. eth and other crypto are finally also affected by the same situation, if it does not distract then december enters the bloodbath period, I hope there is still a reversal effect.

[DaMut]

I think the fundamental factor is very strong this time, once again the PBOC issues a practical attitude, but what about their logic of separating the blockchain from bitcoin as two different entities?. eth and other crypto are finally also affected by the same situation, if it does not distract then december enters the bloodbath period, I hope there is still a reversal effect.

Because Bitcoin and Blockchain are two different entities, Bitcoin is a product of the Blockchain itself while the Blockchain itself is a system.
is it really because of china? why do I feel like it is not because of them?
in my opinion, it is more likely a manipulation causing the price to drop because we are getting near to the end of the year.

[alani123]

Boy, seeing BTC fall more than 10% isn't new but certainly doesn't look or feel nice. People I think got tired of waiting for a new bull run and now we're going to see some real correction from the all time highs if a bear market starts. I think resistance is weak at this point.

[Taskford]

Boy, seeing BTC fall more than 10% isn't new but certainly doesn't look or feel nice. People I think got tired of waiting for a new bull run and now we're going to see some real correction from the all time highs if a bear market starts. I think resistance is weak at this point.

Correct it's not new since we can see some ups and downs for it but actually it's kinda upsetting to see the continuously dump happening in the market right now and provably we can see more doubters since they didn't want to lose more profit if this dump continue and let's hope for betterment and see a good growth on December since some good insights is coming for that month or maybe in next year.

[watergold]

I think the fundamental factor is very strong this time, once again the PBOC issues a practical attitude, but what about their logic of separating the blockchain from bitcoin as two different entities?. eth and other crypto are finally also affected by the same situation, if it does not distract then december enters the bloodbath period, I hope there is still a reversal effect.

Because Bitcoin and Blockchain are two different entities, Bitcoin is a product of the Blockchain itself while the Blockchain itself is a system.
is it really because of china? why do I feel like it is not because of them?
in my opinion, it is more likely a manipulation causing the price to drop because we are getting near to the end of the year.

Maybe this has become a sharper down market trend for manipulation it could be and the pope can also do it, but with the influence of China can also happen because with every statement from China there is always an impact on the crypto market but I just think with downtrends like this it won't take long but it will take a long time to recover.

[rijaljun]

Maybe this has become a sharper down market trend for manipulation it could be and the pope can also do it, but with the influence of China can also happen because with every statement from China there is always an impact on the crypto market but I just think with downtrends like this it won't take long but it will take a long time to recover.

China is one of biggest influential country both in centralized and decentralized world so no doubt China makes this happen. There is also an FUD toward Binance that could be one of the reason of recent dump. As the issue being resolved and once everything is clear it should not take long time to recover as people should not care about FUD anymore, they should get more confidence and don't let any bad news easily affect them in the future.

[Pelunize12]

Boy, seeing BTC fall more than 10% isn't new but certainly doesn't look or feel nice. People I think got tired of waiting for a new bull run and now we're going to see some real correction from the all time highs if a bear market starts. I think resistance is weak at this point.

yes, falling more than 10% isnt new, but this is different. bitcoin has fallen more than its strong support at $ 7,300
it means that the price has high possibility to go lower than now
that's why i personally bear in this market, we need more time to gain high price

[DeathProxy]

The present dump in price is connected to the Chinese promise of closing down local exchanges. Thesame rumours have had a negative effect on The crypto market.  But not to worry this is not the first time we are experiencing a sharp dump like this,  looking from a brighter side for another pump to happen this price correction needs to happen,  the 9k support has veen holding for so long qnd given the weak resistance its normal to see this kind of dump. Hopefully before the end of the year we might see another huge pump,  these things happen and i am highly expectant of another green market before end of the year

[Strongkored]

The present dump in price is connected to the Chinese promise of closing down local exchanges. Thesame rumours have had a negative effect on The crypto market.  But not to worry this is not the first time we are experiencing a sharp dump like this,  looking from a brighter side for another pump to happen this price correction needs to happen,  the 9k support has veen holding for so long qnd given the weak resistance its normal to see this kind of dump. Hopefully before the end of the year we might see another huge pump,  these things happen and i am highly expectant of another green market before end of the year

You mean Binance. No, it was not the closing of the local exchange, but only rumors from the Chinese media that the police had closed the Binance office in Shanghai. This was answered by Binance, the article was in the cointelegraph.
It could be what happens in the cryptocurrency market because big capital holders already have calculations when it's time to make the market go down and vice versa, the traders with small capital can only see that the market is in a bloody condition, can this be said of manipulation? Can be because word of manipulation is the easiest or most often pinned when market conditions are like now.

[stomachgrowls]

The present dump in price is connected to the Chinese promise of closing down local exchanges. Thesame rumours have had a negative effect on The crypto market.  But not to worry this is not the first time we are experiencing a sharp dump like this,  looking from a brighter side for another pump to happen this price correction needs to happen,  the 9k support has veen holding for so long qnd given the weak resistance its normal to see this kind of dump. Hopefully before the end of the year we might see another huge pump,  these things happen and i am highly expectant of another green market before end of the year

You mean Binance. No, it was not the closing of the local exchange, but only rumors from the Chinese media that the police had closed the Binance office in Shanghai. This was answered by Binance, the article was in the cointelegraph.
It could be what happens in the cryptocurrency market because big capital holders already have calculations when it's time to make the market go down and vice versa, the traders with small capital can only see that the market is in a bloody condition, can this be said of manipulation? Can be because word of manipulation is the easiest or most often pinned when market conditions are like now.

Not a new thing yet manipulation is sometimes obviously been executed for those people who want to surpress the price first before they can accumulate cheaper coins.Small traders/investors would really see this as a devastation event but if we do look on other perspective its pretty obvious that these are the sweetest spot for  big players.A classic manipulation specially if media is already got involved.

[wajik-tempe]

In the last 24 hours market has witnessed the superiority of the Bitcoin trading volume over the entire market capitalization of Ethereum. the volume of Bitcoin achieves $ 20 billion while ETH fell to $ 18 billion. Interestingly it was amid decreasing the value of BTC ‘s $ 8000 to $ 7500 marking a fall of 5%.

However, no reason so far justified this, The wind has turned to the reverse, due to the sudden drop encryption and this has put a great amount of pressure on Bitcoin as well.

On the other hand, other cryptocurrencies gather even more severe fate. ETH recently seemed to rise above BTC but the rapid reduction in supply, despite the addition of points to him, pulled him down on more than bitcoins.

The freefall trap has not only reached the world of encryption but all other assets like gold. The reason is not yet resolved.

Source: TheCoinRepublic

This is caused by the bad news that china said they're anti with cryptocurrency, every bad news from china must be make the market dropped so hard and it happens almost everytime. But some people said it's a whale's strategy that they want to buy a cheap bitcoin before they hold it until the halving and the price will pumped hard. Let's see what will happen in the future

[electronicash]

people expect bullrun so here's what you don't expect. so the new comers thought this is their way to exit when the financial crisis comes but they find themselves in the abyss after seeing price dips this low. they'd soon find hell when the price breaksout to $10K after they sold their btc in panic. the least we expect to happen will always happen. this time i'm not really expecting bullrun but just watch the market.

[adroitful_one]

This is the reason
https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

So many people are putting a lot of their hopes in china but i personally never put a big expectation crypto to be adopted in short time. Remember about what already said by Xi-jinping is about blockchain and not crypto.

People really need to remember that the Chinese government is communism. If something were to happen that paints crypto and China in a bad light, they very well could outright ban all crypto in a matter of hours. This is why I tend to ignore almost anything that the Chinese government says about crypto. It will change at some point. Just let something that makes China look bad and all of those people will be out of the crypto market. Besides the ones that use VPN's or what not to get around the ban.

[BChydro]

This is why I tend to ignore almost anything that the Chinese government says about crypto. It will change at some point. Just let something that makes China look bad and all of those people will be out of the crypto market. Besides the ones that use VPN's or what not to get around the ban.

No one really cares about the news coming out of China and for all the long term investors in the market have first hands experience how they used to manipulate the market with FUD when they were dominating the trading market with the huge volumes they had and once the government halted those trades all these traders move to other exchanges and you really cannot ban the market.

[drlukacs]

In the last 24 hours market has witnessed the superiority of the Bitcoin trading volume over the entire market capitalization of Ethereum. the volume of Bitcoin achieves $ 20 billion while ETH fell to $ 18 billion. Interestingly it was amid decreasing the value of BTC ‘s $ 8000 to $ 7500 marking a fall of 5%.

However, no reason so far justified this, The wind has turned to the reverse, due to the sudden drop encryption and this has put a great amount of pressure on Bitcoin as well.

On the other hand, other cryptocurrencies gather even more severe fate. ETH recently seemed to rise above BTC but the rapid reduction in supply, despite the addition of points to him, pulled him down on more than bitcoins.

The freefall trap has not only reached the world of encryption but all other assets like gold. The reason is not yet resolved.

Source: TheCoinRepublic

This is a very bad signal and it has broken the critical support zone of $ 7k5 and now it is trading at $ 7k1. I just hope the price can hold this strong support for a long time because if it continues to break out, the probability of bitcoin falling to $ 5k6 is very high. But don't worry too much, I think this is just a price manipulation by the whales and they force us to sell coins. This is a psychological strategy and we need to be strong and hold as planned, I don't believe the price will plummet again.

[CjMapope]

In the last 24 hours market has witnessed the superiority of the Bitcoin trading volume over the entire market capitalization of Ethereum. the volume of Bitcoin achieves $ 20 billion while ETH fell to $ 18 billion. Interestingly it was amid decreasing the value of BTC ‘s $ 8000 to $ 7500 marking a fall of 5%.

However, no reason so far justified this, The wind has turned to the reverse, due to the sudden drop encryption and this has put a great amount of pressure on Bitcoin as well.

On the other hand, other cryptocurrencies gather even more severe fate. ETH recently seemed to rise above BTC but the rapid reduction in supply, despite the addition of points to him, pulled him down on more than bitcoins.

The freefall trap has not only reached the world of encryption but all other assets like gold. The reason is not yet resolved.

Source: TheCoinRepublic

i think too many people were expecting a yearly bullrun, like we had in 2017 there.  Sadly i dont see it personally
times have changed, WAY more people are over-invested in crypto right now imo, profit taking will last into the 1/2ing i believe
Alot of lower value currency countries are now involved as well, so even 5k$BTC they will still sell, as its alot of money in their countries

[fuguebtc]

This is the reason
https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

So many people are putting a lot of their hopes in china but i personally never put a big expectation crypto to be adopted in short time. Remember about what already said by Xi-jinping is about blockchain and not crypto.

Many didnt pay attention to what Xi-jinping said and blindly bought BTC in bull run that started after his statement on blockchain, they are now cursing the crypto market.

[mindrust]

This is the reason
https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

So many people are putting a lot of their hopes in china but i personally never put a big expectation crypto to be adopted in short time. Remember about what already said by Xi-jinping is about blockchain and not crypto.

Many didnt pay attention to what Xi-jinping said and blindly bought BTC in bull run that started after his statement on blockchain, they are now cursing the crypto market.

Do you think a country like China which is a control freak btw, giving social scores to its citizens (they may not even give you a passport if you have low score) would adopt bitcoin which is a fuck you in the face to all governments? Keep dreaming. Bitcoin means freedom and the Chinese government is the complete opposite of that term.