BTC Price Selling

[gogoi]

The selloff continues and Bitcoin is dumping. Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

Be greedy when others are fearful.

Let's take a step back and get a clear look together.

https://youtu.be/1SUR_9UuTSE

[Jating]

Well, we can't stop the price from going down, or investors selling this precious bitcoin because of the holidays.

Are you referring to this article? PlusToken Scammers Didn’t Just Steal $2+ Billion Worth of Cryptocurrency. They May Also Be Driving Down the Price of Bitcoin. The article came from Chainalysis, so I don't know if it has weight or something. Still up for us to decide, but basically the price is base on supply and demand tho.

[sunsilk]

No idea about the actual reason of the dump but it's always the normal cycle of the market. And yes, this can be the normal fluctuations that we usually see if bitcoin gets a price bump everytime after a dip.

So that's the article that has given you an idea that it could be the reason of the dump. It could be but it's a very basic answer that when the market goes on this attitude, there are huge sell offs that just happened.

[Republikcoin.com]

although this often happens at the end of the year, it looks like the end of this year is not much different from the end of 2018. Well, I also don't have any idea about this.  I heard that the lowest price of bitcoin could be $ 6500 this month, and it looks like it will get worse.  in fact, many altcoin prices are also dumps.  the only thing we can do is wait for price recovery.

[Soots]

although this often happens at the end of the year, it looks like the end of this year is not much different from the end of 2018. Well, I also don't have any idea about this.  I heard that the lowest price of bitcoin could be $ 6500 this month, and it looks like it will get worse.  in fact, many altcoin prices are also dumps.  the only thing we can do is wait for price recovery.

Looks like more people are spending a lot these days, and the predictions was barely influencing a lot of panic holders. Just ignore this downtrend, because it will go back prior new year comes. Let's grab the cheaper price opportunity, and hold while it's still having the highest chance for btc price to spike soon.

[bitvalak]

That is the price of the agreement formed between the buyer and seller, nothing strange. You can scroll the chart to the previous year there must be a dump and pump that occurs.
And we can't stop that because that's the real market condition. Only new people are worried about this condition, because they only know that bitcoin has a high price the first time they know cryptocurrency.

[exstasie]

The selloff continues and Bitcoin is dumping. Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

Be greedy when others are fearful.

The price of USDT dropped from $1.02 to $0.994 over the past 10 hours. That suggests a lot of downward pressure on the Tether markets. Plus Token was a Chinese ponzi scheme and the Chinese do virtually all their BTC trading with USDT, so this theory makes sense.

[adaseb]

The Plustoken selling could be one catalyst however it seems that alts are getting more sold-off than Bitcoin. I think what is happening this is mostly the ETH, LTC, XRP people getting liquidated who kept catching falling knives all year. I think the best example is XRP.

XRP has been on a huge decline since its peak at $3, and it goes lower and lower and lower and people think that it can't go lower. I think many assumed that the $0.25 area would hold and when we broke that area we quickly accelerated the selling all the way to the $0.17 area. This is a large amount because its over a 33% difference, and there are probably people who bought at the $0.30 or higher area.  XRP hit the lows for 2017, it was the worst performing top alt so far.

If this continues I think ETH eventually might see double digits and LTC might hit $20 again.

[ecnalubma]

The selloff continues and Bitcoin is dumping. Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

Be greedy when others are fearful.

Let's take a step back and get a clear look together.

https://youtu.be/1SUR_9UuTSE

All the factors you mentioned can be consider, however this is very normal dips and expect a big rebound in few days. There's nothing to fear really, people buy and sell as always it just happen that demand is lesser than accumulation.

[bitcampaign]

there is no impact whatsoever, it happens because something is normal with bitcoin, let them currently discard and take it in a cheap state with a sale and purchase agreement on the exchange, what we need to realize now is that bitcoin never pumps and dumps, so the price Going down for the end of the year is natural, seeing many people selling now is opportunity for other new people to buy

[Wexnident]

Let's take a step back. Okay I'm back. It's normaaaal Jeez. BTC runs on the idea of supply and demand. Literally no one could manipulate it, UNLESS bloody mind controller takes over the whole world and orders every trader out there, which is not gonna happen I assure you. And yes. Time to take advantage of others being in fear, since some traders have been waiting for BTC to bottom out, and yet no signs of it happening with the continuous decrease of BTC price right now.

Sides, the price right now is pretty normal, with only the recent november spike which can be considered a small bubble, the current movement can be seen as actually the supposed to be movement of BTC this year.

[Text]

Don't be worry too much and yes it is normal price fluctuation. There are may so many possible reasons why it happens but can't pinpoint the specific one. It may dump for now but the time will come that dump will stop and will climb up again. It's just a cycle. Let the late adopters join the ride.

[bamboylee]

Be greedy when others are fearful.

NOt actually greedy but wiser. We all know that Bitcoin is a good investment that is why it is wise to put some money in while everyone else is pulling it out.

We cannot pinpoint the real and direct reason why the price is tanking. But it happened before in bitcoin and the price bounces back. That could be the same scenario right now.

[okala]

The selloff continues and Bitcoin is dumping. Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

Be greedy when others are fearful.

Let's take a step back and get a clear look together.

https://youtu.be/1SUR_9UuTSE

There is one reason why bitcoin is currently selling and that is reasons is the holiday. Most people like to spend at this moment and that always do affect the market. Bitcoin has always be in bad shape at this time every year so to me it is not new.

[danherbias07]

This is just normal fluctuation.

There is nothing to explain it.
Even if you do all the digging you want, you will just end up making efforts out of nothing.
I have a question though.
Why are we still not used to how the volatile movement of bitcoin is? Keyword: Volatile.

[exstasie]

The Plustoken selling could be one catalyst however it seems that alts are getting more sold-off than Bitcoin. I think what is happening this is mostly the ETH, LTC, XRP people getting liquidated who kept catching falling knives all year. I think the best example is XRP.

XRP has been on a huge decline since its peak at $3, and it goes lower and lower and lower and people think that it can't go lower. I think many assumed that the $0.25 area would hold and when we broke that area we quickly accelerated the selling all the way to the $0.17 area. This is a large amount because its over a 33% difference, and there are probably people who bought at the $0.30 or higher area.  XRP hit the lows for 2017, it was the worst performing top alt so far.

If this continues I think ETH eventually might see double digits and LTC might hit $20 again.

I'm looking at the ETHUSD and ETHBTC charts and I'm seeing light at the end of the tunnel. Daily OBV looks healthy, showing minor bullish divergence:





I don't like to enter positions off long term counts like this (altcoins are way too bearish to risk catching knives) but my opinion is the bottom is close. I think the 0.886 at $113 is a reasonable target for ETHUSD. We could see a truncated/failed fifth on ETHBTC. It really depends what BTC does.

[pooya87]

Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

there is no miner capitulation.
and the plustoken scam is not dumping any coins on exchanges to cause any kind of drop, they are selling p2p away from exchanges so any dump they are doing is not affecting the price. not to mention that most of it is drama in the news!

that leaves normal fluctuations. since the support was broken the panic started and the drop became bigger. it is as simple as that. an the drop itself was due to lack of rising power to break the resistance and go up. on top of that there is always market manipulation involved.

[panganib999]

Nothing new here. Nothing different from the norm tbh. BTC broke down to 7k, and fear spread towards most of the traders, which resulted in another drop towards 6.6k which is the current price right now. Also, no one wanted to break through the current price, and most traders are actually waiting for BTC to go lower and hit the most bottom it could actually get. Once the bottom breaks out though, BTC would probably skyrocket in price and traders would then proceed to buy continuously. That, or a breakout doesn't happen and BTC continuous to dump down, but I hope for the former to happen.

[el kaka22]

I feel this is more about miners because they have the most to make out of this.

Think about it, if bitcoin drops in value there will be a lot of rich miners who will continue to mine because they are already in millions of dollars in profit (some say even made billions) and they can take the hit right now with the low bitcoin however small miners will have to close down their machines which would mean eventually big miners will start to make profits while small ones are gone and when the halving happens the miners that are smaller will continue to close their machines while big ones will continue to make profits. Which one is easier, to make sure bitcoin is over 13k+ to make a profit or destroy the sector and just take a hit for couple of months?

[jakelyson]

The selloff continues and Bitcoin is dumping. Is it he Plus One scam holdings being sold? Is it Bitcoin miner capitulation? Is it normal price fluctuations?

Be greedy when others are fearful.

Let's take a step back and get a clear look together.

We are still above the lowest price we had this year. I do not know what is causing the price to tank but it will recover. Remember, we are 3K just a few months ago and spiked to about 12K. Buy to support the price and wait for another spike. That will be my strategy here.