A hard manipulation?

[Pffrt]

Last week was full goods news in favor BTC. In the past, we have seen significant growth of price for such kind of news. But this time, with more good news and halving knocking the door, the price is decreased massively. Some concluded it as dump from Plustoken. Now one of the oldest address moving fund (not confirmed if the coins are on sale.
I have bolded halving because it seems a heavy manipulation done by whales before halving. The recent dump has something to do with the halving I think.
Don't hand over your BTC to the whales, they are the one looking for that.

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[Bossian]

when Bitcoin price move that fast, there is always some manipulation going on. However, usually when something of this kind happens, it means big investors had a precise price in mind and decided to dump eventually just like when Wall Street got involved late 2017.

But you may want to look in the charts too  

[BrewMaster]

i've been saying this for over a week now!

the funny thing is that during the price drop there has been zero negative news about bitcoin and not just that, there has been dozens of massively positive news about it. which means it makes no sense for the price to react like this.

Some concluded it as dump from Plustoken.

if that were true then bitcoin price should have had a large scale dump almost every 2 week!

Now one of the oldest address moving fund (not confirmed if the coins are on sale.

old coins moving is more common than you think actually.

[NeuroticFish]

The tx fees are high enough the scared average Joe's funds will get stuck anyway, so we are good for now  
I also believe it's manipulation, but I clearly didn't expect it be at this magnitude / number of BTC involved.

the funny thing is that during the price drop there has been zero negative news about bitcoin and not just that, there has been dozens of massively positive news about it. which means it makes no sense for the price to react like this.

This sums it up nicely.

[Pffrt]

But you may want to look in the charts too  

The economy of BTC is 10 years old only and I would not depend on chart for such a young economy. Doing that is the same as "To beat about the bush." We need BTC to be usual currency for utilizing chart and some more 10 years of course.
The only things we can depend on for speculation is the things happening around and whale manipulation of course 

[DeathAngel]

43 sats per byte as the average transaction fee, it isn’t all that high. I really hope this horrible land slide stops soon though.

[pakhitheboss]

43 sats per byte as the average transaction fee, it isn’t all that high. I really hope this horrible land slide stops soon though.

I think it will not stop anytime dooner. I some how thing that it will continue till the price reaches to certain point, the way it is being dumped it seem $5000 is the target. It easily can go upto $5500 due to the panic in the market.

[omone1]

Watching the whole market for more than 3hrs, just took my eyes off it to avoid selling at loss and waking up to buying at a higher price which can be heartbreaking. The whole scenario is happening very fast, seems like some powers are manipulating the market to make weak hands sell off. I hope people don't fall for old trick game if this is manipulation.

[Artemis3]

Watching the whole market for more than 3hrs, just took my eyes off it to avoid selling at loss and waking up to buying at a higher price which can be heartbreaking. The whole scenario is happening very fast, seems like some powers are manipulating the market to make weak hands sell off. I hope people don't fall for old trick game if this is manipulation.

You are supposed to automate those things, its what the major players do. Stop loss, pre set buy/ sell orders, etc. If you have to be glued to the screen for hours to no end, you are doing it wrong.

What a great opportunity to buy bitcoin cheap, for those that survive the virus...

[fabiorem]

Don't hand over your BTC to the whales, they are the one looking for that.

I didnt sell anything because its not on my target, but I stopped buying several months ago. I was in DCA and noticed we were not in a bull market, despite what the hodl church said. DCA only works well in bull markets.

[Pffrt]

Don't hand over your BTC to the whales, they are the one looking for that.

I didnt sell anything because its not on my target, but I stopped buying several months ago. I was in DCA and noticed we were not in a bull market, despite what the hodl church said. DCA only works well in bull markets.

In my opinion, you are wrong. If you are following DCA, you must have a period of your choice you decided to follow and you must follow that period. DCA is for avoiding risk as much as possible and getting an average return. If you are thinking of a passive income by following DCA, I think you are not in the right path.

[pooya87]

What a great opportunity to buy bitcoin cheap, for those that survive the virus...

the only thing scary about COVID-19 is that it is new! otherwise it is not even as dangerous as other viruses that people struggle with every year. for example according to CDC every year about 56000 people die from the flu or flu-like illness meanwhile mortality count of COVID-19 is 4900 so far! it is not even as contagious as flu.

[Questat]

This could also be due to manipulation, its expected that bitcoin will drop due to the bad news of corona virus spreading fast but crypto market should not dump this low, due to manipulation it resulted to the market being oversold.

[Yaunfitda]

What a great opportunity to buy bitcoin cheap, for those that survive the virus...

the only thing scary about COVID-19 is that it is new! otherwise it is not even as dangerous as other viruses that people struggle with every year. for example according to CDC every year about 56000 people die from the flu or flu-like illness meanwhile mortality count of COVID-19 is 4900 so far! it is not even as contagious as flu.

What do you mean that it is not contagious as flu? Many average joe's are affected, even those people who are not highly susceptible are affected, i.e. NBA players, so it's dangerous and highly contagious.

Manipulation or not, the market is already suffering from the COVID-19 scare, it's really up to us, if you are an intelligent investors and looking for a good returns in the future, then maybe this is the right time to buy.

[Reid]

And fools are all claiming it is from the virus. 

Manipulation or not there should be a lesson for this.
Newbies who are now in panic thinks they might not make anything out of what they have bought.
Divide the freaking total bitcoin to all of us and so we won't see anything like this happening again. Don't let those whales hoard more of it and dump it again next time.

Push the bitcoin HODL once again and not just a trading tool to make more money out of trading.

[The Sceptical Chymist]

43 sats per byte as the average transaction fee, it isn’t all that high.

No, that's not bad at all, but I've sent bitcoin recently for much less than that (~15 sats/byte) and haven't had crazy delays like I have in the past.

As far as this thread goes, I'm now pretty sure that this drop has nothing to do with whales trying to manipulate the market or the halving.  I think it's got everything to do with people being freaked out about coronavirus, which has been discussed endlessly in other threads.  People want to be holding cash right now, because they're not sure if they're going to have to lock themselves in their houses for weeks--and if they think they might have to do that, you can bet they'll be stocking up on supplies.  And of course you buy supplies with cold hard cash (though you could probably get everything you need with bitcoin).

So no, I don't think this is necessarily a manipulation whereby a group of people are trying to sink the price of bitcoin.  It's just happening naturally as the result of fear.  And look at other markets; the same thing is happening, so that's even more evidence of this not being a case of whales trying to get bitcoin at lower prices.

[mu_enrico]

The virus has been declared as pandemic by WHO it means that many investors are now preparing for the recession. Not because of zombie apocalypse or the like, but because of closed borders make the flow of goods and services faltered.

They cash out to avoid the risks while waiting for the bottom. Well, that happens in the mainstream financial market. Not sure if the whales also manipulate the crypto market at the same time as this negative sentiment appeared.

[gentlemand]

They cash out to avoid the risks while waiting for the bottom.

Many people are facing the real prospect of being unable to earn any money, maybe for the rest of the year. Think how many businesses will grind to a complete halt such as anything tourism related.

I'm mystified how anyone can be mystified by this move. Being able to survive trounces your dreams of future riches any day of the week. I'm sure there were some whale moves in there somewhere like any other time but it's human nature 101 to shit the bed in a moment like this.

[Furious 7]

I think this is not entirely done to be satisfied to manipulate prices in the market. Of course we know that our situation is in a crisis, even other markets have experienced the same thing, I think this is indeed the effect of the corona virus, so the fear of investors is so deep because of panic they are afraid of running out of food stocks so they are more selling and storing in assets so it is easy to deposit whatever is needed.

I never thought that the pope did it.

[YuginKadoya]

I surely agree that it is not manipulation but a total panic because of the pandemic virus the COVID-19 that is now not only in just 5 to 1 countries only but regarding the fact that the whole world may become infected in no time,

I have seen it first hand here in my country the Phillippines that this issue is really a serious matter because with the first reported case here in the country the situation right now has a 64 and it is kept on increasing as the days progresses and the following problem amidst in the whole NCR municipality of my country

* Panic Buying for Alchohol's, Tissue papers, Can Goods, Beverages, Fruits and mostly Face Mask that is something that is clearly people are mostly taking a hoard when they are buying.

* Basic needs for the protection on the virus have a huge impact on the demand so many individuals are taking this opportunity to hoard and taking its price to abruptly double to triple its Standard retail price.

I think many holders are giving away their Bitcoin or using their hold BTC to secure their protection and their family as well.