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[20kevin20]

Wasn't 8,600 on more than one exchange, and all the aggregators I was on only showed 9400 at the worst

The usual "scary" 5 seconds paper loss nobody besides spot traders noticed (and possibly stop loss limiters), similar to the -99% drops ETH had a while ago on an exchange.

I'm sure once the price rises above ATH price of $19.000, Bitcoin will be in the news again, but this time as a positive news.

Bitcoin usually hits the news right before a big price drop - possibly due to the "sell the news" strategy. I'm not convinced the MSM is too happy to feature BTC on their TV with a positive underlying story. Much better & safer to apply FUD when you have a coin undergoing a massive bull run that'd obviously go wrong at some point.

[1714993950]

1714993950

[MCobian]

Though cointelegraphs are websites that can be trusted, but this time the news tells lies. Based on my investigation, bitcoin yesterday
didn't drop to $ 8600. Possible cointelegraph to make click baits to attract readers, so that traffic websites they are crowded. Therefore
we as readers must be careful in reading articles, hopefully cointelegraph does not make fake news again. Moreover, based on my analysis,
it is impossible for bitcoin to fall below $ 9,000, because the price of support at $ 9400 is very strong. Possible in in the near future, bitcoin
will pump to priced at $ 10k.

[eaLiTy]

~
Nope. It dropped to $8600 on BitMEX.

Lets say that BitMex is not even an exchange, contracts and leverage rates cannot be taken as the price of BTCitcoin and they have a 100x leverage and  any glitch can take the price down. It is even possible that someone drunk messed up taking a position and we saw a flash crash  .

 
 

[stiffbud]

The price of Bitcoin dropped 14% to $8,600 in less than 15 minutes yesterday, and in a article on cointelegraph three reasons are given: long contracts accounting for the overwhelming majority of the Bitcoin market, BTC reacting to a multiyear resistance at $10,500 and whales dumping.

How do you think about this?

https://cointelegraph.com/news/3-main-reasons-bitcoin-price-plummeted-14-in-15-minutes-to-8-600

Bitmex is recently creating many problems for the traders and many people have started using different exchanges that are providing the same amount of leverage that Bitmex provides. A few months ago there was also a hack involving bitmex which is here:

Code:

https://cointelegraph.com/news/hackers-take-over-bitmex-twitter-but-customer-funds-reportedly-safe

I guess this is the downfall of Bitmex, I also have started using Binance for my trades now and I must say that exchange is really impressive in terms of user interface and pretty simple to use.

~
Nope. It dropped to $8600 on BitMEX.

Lets say that BitMex is not even an exchange, contracts and leverage rates cannot be taken as the price of BTCitcoin and they have a 100x leverage and  any glitch can take the price down. It is even possible that someone drunk messed up taking a position and we saw a flash crash  .

 
 

Actually leverage trades are the ones that are making these crazy price fluctuations of bitcoin in the market and many experts say that they are the reason behind the success of bitcoin in the first place.

[fabiorem]

I cant take cointelegraph seriously anymore, as they are considering Bitmex as a valid exchange.

Do people have a short memory? The price would have gone to zero two months ago if it wasnt for a "hardware failure" at Bitmex.

[TimeTeller]

I haven't even seen BTC drop below $9,000 in the past 5 days or so. As a matter of fact, what I saw yesterday was BTC breaking $10,000 once again. I guess this $8,600 only happened in BitMEX.

But the more important point is that thanks to the 24/7 movement of the price of BTC cointelegraph will never run out of articles.  

That's true, just by following the btc movement they will not run out of circulation with news.  
And then inject potential contributing factors here and there and they have article for bitcoin.
Their writers will find some news affecting such sudden drop or rise, even if it is not really the reason of such price trend.
But yeah, at least they can keep their jobs and let the ball rolling for btc awareness.

I cant take cointelegraph seriously anymore, as they are considering Bitmex as a valid exchange.

Do people have a short memory? The price would have gone to zero two months ago if it wasnt for a "hardware failure" at Bitmex.

People forget so many things.

[justdimin]

The price of Bitcoin dropped 14% to $8,600 in less than 15 minutes yesterday, and in a article on cointelegraph three reasons are given: long contracts accounting for the overwhelming majority of the Bitcoin market, BTC reacting to a multiyear resistance at $10,500 and whales dumping.

I haven't seen it go down neither, the price was always above 9k actually it was always over $9.5k except few moments, never went below $9k though. The bitmex world is a bit different than rest of the world, when you are on bitmex there is this weird calculation based on who buys what and sells what to make the prices whatever, because the price there doesn't just reflect what is going on here in rest of the world, but it also affects the short and long futures as well, so if the price went down even further than all of the market that means there was some people who shorted bitcoin very very much and wanted the price to go down just on bitmex if they can in order to take all of long futures money, that sounds like the only reasonable explanation to bitmex having lower price than other places.

[carlfebz2]

I haven't even seen BTC drop below $9,000 in the past 5 days or so. As a matter of fact, what I saw yesterday was BTC breaking $10,000 once again. I guess this $8,600 only happened in BitMEX.

But the more important point is that thanks to the 24/7 movement of the price of BTC cointelegraph will never run out of articles.  

That's true, just by following the btc movement they will not run out of circulation with news.  
And then inject potential contributing factors here and there and they have article for bitcoin.
Their writers will find some news affecting such sudden drop or rise, even if it is not really the reason of such price trend.
But yeah, at least they can keep their jobs and let the ball rolling for btc awareness.

As usual on where these medial outlets would really publish out bullshit thing as long they can produce out even those headlines arent already in line anymore.

it is something thats not surprising anymore yet we have known already on how shitty they are and not all information are really that trust-able.

The bad thing here is that this do indeed mislead specially to those people who arent aware.

I cant take cointelegraph seriously anymore, as they are considering Bitmex as a valid exchange.

Do people have a short memory? The price would have gone to zero two months ago if it wasnt for a "hardware failure" at Bitmex.

People forget so many things.

Actually doesnt forget but they dont even know that Bitmex wasnt an exchange and they do believe everything out on what they do able to read. 

[Findingnemo]

The price is in hype for few hours but after that it back into normal like the price where it was before 48 hours so nothing to worry about it now.I saw that price increase but decided not to react to it.Yes missed the cashing out moment but not much to worry once it happened, its just everyday scenario in crypto market.

[davis196]

The price of Bitcoin dropped 14% to $8,600 in less than 15 minutes yesterday, and in a article on cointelegraph three reasons are given: long contracts accounting for the overwhelming majority of the Bitcoin market, BTC reacting to a multiyear resistance at $10,500 and whales dumping.

How do you think about this?

https://cointelegraph.com/news/3-main-reasons-bitcoin-price-plummeted-14-in-15-minutes-to-8-600

This price behavior is pretty normal,if you ask me.It happened several times before.
The Bitcoin price couldn't find resistance above 10K USD,so that's why many traders started to sell BTC and cashout their profits at 10K USD.Perhaps this caused some short term panic selling.That's why the prices dropped pretty fast to 8,6K USD,but now the price recovered back to 9,5K USD.
Bitcoin is doing just fine.Maybe the price might go above 11K USD at the end of June,or the beginning of July.
This happened last year,but past performance of the price doesn't mean anything.

[el kaka22]

Short futures and basically all futures and leverage trading, all kinds of things that is not "buy bitcoin, sell bitcoin" is just hurting the market. I do not understand how people can't see it. Having the "freedom" to do whatever you want is not freedom, if you have the freedom of killing someone, that doesn't mean the person you just murdered isn't dead, so when you have freedom to do something, and you take it, you have to realize there is consequences.

I get it, when you do something bad and there is horrible consequences but those consequences are not for you, it is for other people, you do not care. You just do something bad, gain something awesome, and others are in misery because of it, you go scott free without any problems. But that is not morality, that is not ethics, that is not good for the market in the long run.

[fabiorem]

Short futures and basically all futures and leverage trading, all kinds of things that is not "buy bitcoin, sell bitcoin" is just hurting the market. I do not understand how people can't see it. Having the "freedom" to do whatever you want is not freedom, if you have the freedom of killing someone, that doesn't mean the person you just murdered isn't dead, so when you have freedom to do something, and you take it, you have to realize there is consequences.

I get it, when you do something bad and there is horrible consequences but those consequences are not for you, it is for other people, you do not care. You just do something bad, gain something awesome, and others are in misery because of it, you go scott free without any problems. But that is not morality, that is not ethics, that is not good for the market in the long run.

I said that many times already, but some people in this forum just dont understand. They are jeopardizing not only bitcoin's future, but the future of all cryptocurrencies, when they preach freedom without consequences. I even got negative trust points for pointing out how harmful derivatives can be to the future of cryptocurrencies.

Thats why I'm applying a inverted DCA strategy, selling a bit of my stash every month, because I believe bitcoin's future is compromised by these degenerates, who think paper speculation will "legitimize" it.

[michellee]

The price is in hype for few hours but after that it back into normal like the price where it was before 48 hours so nothing to worry about it now.I saw that price increase but decided not to react to it.Yes missed the cashing out moment but not much to worry once it happened, its just everyday scenario in crypto market.

I am sure you will have your time to cash out your bitcoin in the next increase so prepare yourself before the pump comes. The price is trying to increase again, and we already hit $9,000. Although the price now back to the lower price. But maybe the next week, the price will have a big chance to increase high because if at the end of this week, the price is not moving up or down too deep, the price will have the opportunity to grow.

[Betwrong]

The price is in hype for few hours but after that it back into normal like the price where it was before 48 hours so nothing to worry about it now.I saw that price increase but decided not to react to it.Yes missed the cashing out moment but not much to worry once it happened, its just everyday scenario in crypto market.

Yep. And another important thing to remember about Bitcoin market is that with enough patience, at some point in the future, you will be happy about your not cashing out.