Bizarre crash! What cause bitcoin crash??

[exstasie]

There is also speculation of that PlusToken ponzi being sold off on Chinese exchanges. No idea if any of this is true but from what I understand the Ponzi was live for a while and it targetted many Chinese mainstream people.

That's what people have been saying about every dump since August.

Not sure I buy it anymore. People are just digging for an explanation for all the blood.

If PlusToken really is that huge and is still saturating the market with supply, then we'd have to credit PlusToken for driving the rally to $14K in the first place. They own(ed) all those BTC and ETH because people bought the market up to participate in the Ponzi.

[hahay]

I think this is just a normal correction and whatever happens behind all the falls that have happened so far, at least this is just a cycle that is still in a reasonable stage when considering the temporary recovery that might happen next, because after all the prices will still fluctuate before entering a large dumping period which I feel will happen before halving.

[Slow death]

36 of 39 posts earned coin for posting here.

why did we drop to 6500 price?  that is a supporting number for major mining companies.

 a big player with 70 watt gear turns a profit mining at that price.


so there is a push towards  5000-6500 price level as it is the break even number for big miners.

10k 20k 30k numbers are speculative numbers for traders.


so we have two forces one is always pushing to the breakeven price level.

the other is always pushing to the moon.

definitely John Mcafee should read your post and he would take the time to call the time traveler to tell us how mining will be in the future


I wouldn't call this price drop "Bizarre crash" for some unknown reason it's been very strange days in the last 7 days. The price rises a lot in few hours and dropped a lot many hours later, even for day trading it has become much harder to predict the price.

[tsaroz]

36 of 39 posts earned coin for posting here.

why did we drop to 6500 price?  that is a supporting number for major mining companies.

 a big player with 70 watt gear turns a profit mining at that price.


so there is a push towards  5000-6500 price level as it is the break even number for big miners.

10k 20k 30k numbers are speculative numbers for traders.


so we have two forces one is always pushing to the breakeven price level.

the other is always pushing to the moon.

definitely John Mcafee should read your post and he would take the time to call the time traveler to tell us how mining will be in the future


I wouldn't call this price drop "Bizarre crash" for some unknown reason it's been very strange days in the last 7 days. The price rises a lot in few hours and dropped a lot many hours later, even for day trading it has become much harder to predict the price.

The current sharp fluctuations came from the news from China where firstly President Xi praised blockchain technology which spread a buying trend on Chinese people. Than came the officials statement about cracking down on crypto trade. There were also news of raiding of different crypto related companies and projects that has spread a fear on Chinese investors.

[imstillthebest]

The current sharp fluctuations came from the news from China where firstly President Xi praised blockchain technology which spread a buying trend on Chinese people. Than came the officials statement about cracking down on crypto trade. There were also news of raiding of different crypto related companies and projects that has spread a fear on Chinese investors.

oh ?  i notice that china are always involved whenever there are crashes like the one's we currently experiencing  . on the times that bitcoin rises up china was also the main reason about its rise but sad to say that china was also the reason on why the price dumped too hard  .

oh well , china is a huge country and most people here love's to enter business such as mining , crypto investing  trading and more  so that should not be questionable after all  .

[yulionoo]

since long ago bitcoin has been the number 1 coin in cryptocurrency until now there has been no altcoin that can beat bitcoin.
and I think the decline in bitcoin yesterday is a common thing for bitcoin. because bitcoin has high volatility. so this is not a crash. and bitcoin doesn't need a reason why prices go down or go up. bitcoin prices are very volatile and can go up and down suddenly and without reason.
yes but sometimes fud can also affect the price of bitcoin.

[Taskford]

The current sharp fluctuations came from the news from China where firstly President Xi praised blockchain technology which spread a buying trend on Chinese people. Than came the officials statement about cracking down on crypto trade. There were also news of raiding of different crypto related companies and projects that has spread a fear on Chinese investors.

oh ?  i notice that china are always involved whenever there are crashes like the one's we currently experiencing  . on the times that bitcoin rises up china was also the main reason about its rise but sad to say that china was also the reason on why the price dumped too hard  .

oh well , china is a huge country and most people here love's to enter business such as mining , crypto investing  trading and more  so that should not be questionable after all  .

I think not all the times since there are certain particulars that contributed on the dump happening right now and not always the china contributes it since there are many fuds has been spread without the involvement of china, and maybe we should be optimistic the the situstion since fudster uses the china for long time and blame them when dump is occuring.

[monineklutak]

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty  of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

what I think is that if this is manipulation, if you think logically the price of bitcoin will go down and it might be stable at $ 6000- $ 7000 and will switch to altcoin before halving, because after halving all traders and investors will again dominate bitcoin

[SaShiRaJaVu]

what I think is that if this is manipulation, if you think logically the price of bitcoin will go down and it might be stable at $ 6000- $ 7000 and will switch to altcoin before halving, because after halving all traders and investors will again dominate bitcoin

I did not understand what your trying to say, the volatility will switch to altcoin or everyone will switch their investment to altcoin before halving  .
The bizarre crashes are nothing new and for the past two years the market was so stable and the people who are in the market for a long time will be surprised to see that kind of stability in the price and right now when we see these kind of volatility everyone is shocked  .
Welcome to the bitcoin market and enjoy the volatility.

[suvo05]

Compared to the past nothing has really occurred to the BTC> This kind of market crash is supposed to be very normal for BTC. But in the recent year, With BTC the altcoins are crashing( which is normal)  but the altcoins are not recovering when the BTC is recovering. So I think BTC holder( they are brave  ) should not worry about it but it's bad news for altcoin holders.

[7788bitcoin]

Compared to the past nothing has really occurred to the BTC> This kind of market crash is supposed to be very normal for BTC. But in the recent year, With BTC the altcoins are crashing( which is normal)  but the altcoins are not recovering when the BTC is recovering. So I think BTC holder( they are brave  ) should not worry about it but it's bad news for altcoin holders.

If the altcoin is giving any real value in the market and gives the confidence in the investors then you will see investments coming in but it is hard to find any unique projects and you cannot expect the investors to invest in all the coins in the market and the bitcoin market is moving higher because the investors have confidence in the market and the crash is not a new thing in the market but there are many new investors in the market who have not witnessed these volatility.

[bitvalak]

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty  of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

I am a little confused and ambiguous with what you mean, however low the current price of bitcoin will not shift its trading volume below other altcoins. 
So bitcoin remains number 1, by volume and capital is the biggest among other altcoins.

[Wexlike]

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty  of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

I am a little confused and ambiguous with what you mean, however low the current price of bitcoin will not shift its trading volume below other altcoins. 
So bitcoin remains number 1, by volume and capital is the biggest among other altcoins.

The CME futures pump wasn't as severe as it should be. Makes lower lows more probable now.

[Hippocrypto]

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty  of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

I am a little confused and ambiguous with what you mean, however low the current price of bitcoin will not shift its trading volume below other altcoins. 
So bitcoin remains number 1, by volume and capital is the biggest among other altcoins.

This is a long term fluctuations that initiates more influence worldwide, somehow this is the best opportunities for eah and everyone. Although that remained number one, we still have to more careful on our decisions as well. Other altcoins will still follow what the market changes are, most importantly you're holding still until the perfect time comes for our asset to mature at higher pumps.

[TastyChillySauce00]

Its second major crash in 3 days going below $7000. What you guys think what cause bitcoin crash because i think uncertainty  of market makes bitcoin crash. I think many of investors should holding there coins and hoping for the best because bitcoin is a fighter and somehow manage to came back at number 1. What you guys thinking about this?

I am a little confused and ambiguous with what you mean, however low the current price of bitcoin will not shift its trading volume below other altcoins. 
So bitcoin remains number 1, by volume and capital is the biggest among other altcoins.

Isn't that obvious though, when the whole market is being dumped bitcoin instead increase its dominance and thus making altcoin suffer even worse than bitcoin itself and by that there's no way the trading volume of bitcoin below all these alts even the volume's gap is just too far and saying that bitcoin will be below #1 is just nonsense at its best. The fact that bitcoin is the most adopted coin will hardly make it fall below any other alts.

[Dart18]

It became normal to me ever since I saw how big waves can be created by just FUDs.
It will come back though. As you can see now the resistance is $7k and it didn't really go way far from that amount.

We are all just waiting now for a big pump. This could be the lowest that we could ever seen. Who knows? Maybe it is not a negative approach but more of a chance to buy at a cheaper price. That is how I see it.

[Darooghe]

The reason for the crash is because there was a lot of speculators from the initial bullrun at the middle of the year and when the market dropped, they sold for various reasons and some of those people have not came back because they could not handle the dip. There was also a lot of FUD in regard to China news that I think also attributed to people holding off on buying. Then the FUD began and those brand new weak hands began to see the market going down and started to get out and created more FUD.

[barabarian1]

since the first time I entered bitcoin cryptocurrency it's like this can go up and down for no reason. bitcoin volatility is common. so I don't think we need to panic. and it's unlikely that bitcoin will crash because bitcoin already has a large volume of trade and community. bitcoin price reduction of $ 100 - $ 2000 I think is not a crash. believe after a bitcoin dump will pump again.

[wxa7115]

since the first time I entered bitcoin cryptocurrency it's like this can go up and down for no reason. bitcoin volatility is common. so I don't think we need to panic. and it's unlikely that bitcoin will crash because bitcoin already has a large volume of trade and community. bitcoin price reduction of $ 100 - $ 2000 I think is not a crash. believe after a bitcoin dump will pump again.

That is precisely the issue with people, they are always looking for a reason for the price of bitcoin to move the way does and the only valid explanation is the supply and demand of bitcoin everything else is just pure speculation, not long ago people were speculating that the price of bitcoin went up because positive news came from China but when you read the actual news you understood that the news were not positive at all.

Those explanations most of the time come after the fact and are an attempt to use fundamental analysis to predict the market which is something impossible to do.

[Irvinn]

since the first time I entered bitcoin cryptocurrency it's like this can go up and down for no reason. bitcoin volatility is common. so I don't think we need to panic. and it's unlikely that bitcoin will crash because bitcoin already has a large volume of trade and community. bitcoin price reduction of $ 100 - $ 2000 I think is not a crash. believe after a bitcoin dump will pump again.

That is precisely the issue with people, they are always looking for a reason for the price of bitcoin to move the way does and the only valid explanation is the supply and demand of bitcoin everything else is just pure speculation, not long ago people were speculating that the price of bitcoin went up because positive news came from China but when you read the actual news you understood that the news were not positive at all.

Those explanations most of the time come after the fact and are an attempt to use fundamental analysis to predict the market which is something impossible to do.

The increase in prices for Bitcoin in 2016 and 2017 was primarily due to a very good PR campaign and many people investing in cryptocurrencies in the hope of getting fast and very good profits.  Moreover, the rise in the price of Bitcoin from $ 500 to $ 20,000 for almost a year had a very progressive effect on new cryptocurrency users.  To date, the situation has changed and therefore the capitalization of Bitcoin has decreased many times.  I believe that today manipulations on the cryptocurrency market and negative statements regarding the cryptocurrency of many governments have a negative effect.  If we talk about Bitcoin, then this is the main problem on the way to raising prices, it is a low transaction speed, because this is what prevents attracting Big Business to use Bitcoin.