What the heck is happening to bitcoin!

[escrowmycoins]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

[mk4]

Price rise: adoption!
Price drop: manipulation!

Ah, classic. If you're a long term holder, why are you so affected by a price drop? It's not like price drops are anything new with bitcoin in the first place. If anything, price drops like this are great opportunities to stack up some more.

[pragna]

Price rise: adoption!
Price drop: manipulation!

Ah, classic. If you're a long term holder, why are you so affected by a price drop? It's not like price drops are anything new with bitcoin in the first place.

  you are correct sir. I do not know he or she had previous experience for crypto market or not. Crypto market is always such like that and there is no manipulation i think. My my mind, maximum come here for short time trade and big dividends so they can not read the market fully. So ups and down which is normal in our eye that are adoption and manipulation in their eye.

thanks

[stompix]

Price rise: adoption!
Price drop: manipulation!

Exactly my thought!

The price goes up,  millions of Argentinians are buying bitcoin, bitcoin trading surges in Africa, Wallstreet is into bitcoin, investors are putting in billions after billions.
The price goes down, a whale dumped 100 BTC and crashed the price though manipulation, erasing the effect of all the above   and everyone is running around like chickens.

I am shocked of this recent drop and i am a long term holder, what do you think it will happen?

It will go up again, that if it will not drop more, or, of course, it's also the possibility to stay at the same price  
Long term holders don't care about swings like this, remember that we were at 9k one month ago and 4k in March? Or that we dropped from almost 10k to 8.2 at the beginning of May?

[NeuroticFish]

I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

I am also a bit shocked. And that's because I probably had unrealistic expectations.
Still, this drop "only" sets the price back to where it was at the end of July.

It's not strange at all that some traders may have decided it's time to cash in. And of course, this can trigger a lot of stop-loss triggers and even more sales.

If you put it like this it doesn't sound as bad as manipulation, isn't it? 

[BrewMaster]

Price rise: adoption!
Price drop: manipulation!

at first look it looks that way but with a closer inspection the way price dropped is not normal. it is more like the panic sell button was pushed and the price dropped all the way down from $12k+ to $10.5k range in pretty much 2 big dumps.
that is not normal behavior in my experience and can only be explained by manipulation.

[drlukacs]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

Don't worry too much, if the price increases sharply, it will also plummet. this is just a correction and bitcoin is still above $ 10k, we are still at a safe level. I am also a holder so I understand your feelings, but if you have determined to hold for a long time then you should set a clear target for profit as well as a stop loss. Although the economic conditions are quite favorable to return to development, we also need to prepare for the worst case scenario. If bitcoin falls below 10k $, I will sell everything and not hold anymore. and you ?

[mindrust]

It will go towards whatever direction the tether overlords want.

BTC (and other crypto) prices are being manipulated since the 2017 moon shot probably.

You are fine as long as they keep playing this game. Sooner or later they'll have to increase the price again... Hodl!

[escrowmycoins]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

Don't worry too much, if the price increases sharply, it will also plummet. this is just a correction and bitcoin is still above $ 10k, we are still at a safe level. I am also a holder so I understand your feelings, but if you have determined to hold for a long time then you should set a clear target for profit as well as a stop loss. Although the economic conditions are quite favorable to return to development, we also need to prepare for the worst case scenario. If bitcoin falls below 10k $, I will sell everything and not hold anymore. and you ?

That's what i am thinking too, there's a gap in the 9600~ area that should be filled so i am expecting a drop even more, but i am planning to hold until Feb, 2021 until everything is clear.
2016-17 is repeating itself, we used to have ICOs and now we have DeFi trend which is pretty similar, my target is 35k$ and i will cash-out.
Let's hope everything goes according to plan.

[rodskee]

I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

I am also a bit shocked. And that's because I probably had unrealistic expectations.
Still, this drop "only" sets the price back to where it was at the end of July.

It's not strange at all that some traders may have decided it's time to cash in. And of course, this can trigger a lot of stop-loss triggers and even more sales.

If you put it like this it doesn't sound as bad as manipulation, isn't it? 

Lots of opportunist and gainers are cashing out shaking now the market and wait for another target position.

If you are a long term investors, for sure you are already aware of this and you'll not going to panic chances that it will continue to fall is still possible
better to close your eyes or forget about checking the price from time to time.
It will only leads you to make a wrong decision then regret when the time comes and bounce back happened, let it be and just keep your plan intact.

[Oceat]

It means that it's time for a buyback to stack again.

This is how the market is working, you should know that since you are a long term hodler.
Know that there are traders who does trading everyday so it's a common knowledge to see the price dropping after it's growing.
Consider this as an opportunity to add more to your coins since you were a long term hodler you still have plenty of time to stack up.

[abel1337]

Price rise: adoption!
Price drop: manipulation!

Ah, classic. If you're a long term holder, why are you so affected by a price drop? It's not like price drops are anything new with bitcoin in the first place. If anything, price drops like this are great opportunities to stack up some more.

I genuinely laugh at this haha, I don't know why there are still people who are complaining when bitcoin drops it's the price and blaming that it is manipulation. As a long time holder, I really don't even care enough what price would be.

We can't expect that bitcoin will just go straight that price border, I think it's normal to have the price drop on that price but I agree that it is a pretty big price drop.

[audaciousbeing]

Price rise: adoption!
Price drop: manipulation!

Ah, classic. If you're a long term holder, why are you so affected by a price drop? It's not like price drops are anything new with bitcoin in the first place. If anything, price drops like this are great opportunities to stack up some more.

You have just succinctly give the view of what is going on with Op and people like him. Few weeks ago, it was how impossible to break $10k and the moment that was done, it became another issue with emphasis and reasons being provided on how adoption is going through the roof.

But our people seems to forget that market forces are still in play and fluctuations is a major factor embedded in the market. We are not getting rid of that yet

[apache20]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

I think the huge S&P correction today and it's being overextended was a big part of recent downward moves in Bitcoin.. it's pretty well established that BTC has a connection with that index. I looked at the RSI for the S&P daily and just before today's dump it was at 80 and had been well over 70 for a while. Yikes... accident waiting to happen and doesn't take a genius to see that coming. I'm just glad the panic wasn't worse...so far anyway.

But yeah, I think bigger players were being cautious due to the S&P being way extended to the up lately.  Nothing nefarious going on that I can see. Plus, they say August/late summer is historically a shitty time for crypto markets.

 

[escrowmycoins]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

I think the huge S&P correction today and it's being overextended was a big part of recent downward moves in Bitcoin.. it's pretty well established that BTC has a connection with that index. I looked at the RSI for the S&P daily and just before today's dump it was at 80 and had been well over 70 for a while. Yikes... accident waiting to happen and doesn't take a genius to see that coming. I'm just glad the panic wasn't worse...so far anyway.

But yeah, I think bigger players were being cautious due to the S&P being way extended to the up lately.  Nothing nefarious going on that I can see. Plus, they say August/late summer is historically a shitty time for crypto markets.

 

I don't think that crypto is related to S&P that much, but what is most importantly is whether we broke the bullish trend or not, if yes i will cash the heck out now.
What kind of accident you are waiting to happen btw?

[crzy]

Price rise: adoption!
Price drop: manipulation!

Ah, classic. If you're a long term holder, why are you so affected by a price drop? It's not like price drops are anything new with bitcoin in the first place. If anything, price drops like this are great opportunities to stack up some more.

Many people are reacting so badly lately, they just want a full pump and don’t want to experience any drop at all a common reactions from those who don’t have enough knowledge on the market.

Bitcoin is volatile so don’t expect a more stable price because it wont happen for now. As we are aiming for a new peak, expect that we are taking the ladders and not the elevator to easy going up, buy and sell base on your plan and don’t panic if you see corrections.

[militiariko]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

There is nothing like a manipulation, the crypto currency markets deals with our emotions and as a trader who day trades is supposed to check trade charts, study the price movements and determine the support level of bitcoin (especially). Do that frequently, and you will have a good trading experience.

When you do not do your own research before investing in tokens; it is a reason why you think about manipulations that do not exist. Every bear market is a good moment to recap, re position yourself in the market. It is not a time to shift blame or responsibility.

[nelson4lov]

It's nothing new. Just another long, overdue correction.  The ride to 12k has been very much straightforward without any major pullback so I was expecting a drop this big. If you check the total market capitalization, you would notice that it has been growing for a while. In an ideal market, prices don't just keep growing. Price moves in a zigzag kinda movement. Earlier today, the price broke the weakly support at 10800 and moved lower. In the days to come, there would be a relief rally, possibly to 11.1 - 11.2k levels.  People are just overreacting and panic selling when they should be filling up their bags.

[Baofeng]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

Lol, you just contradict yourself, if you're really a long term holder then why are you affected by the sudden drop of price? I will assume you know that if you don't sell then you are not losing money here, so it seems that you are in a panic mode. Obviously, this is a correction, maybe we can really identify the reason in the next couple of days, but for now it's all speculation as to what the cause of the sudden drop. And again, as I have said, it's not just crypto, stocks and golds also went down, so every market is really affected.

[escrowmycoins]

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

Lol, you just contradict yourself, if you're really a long term holder then why are you affected by the sudden drop of price? I will assume you know that if you don't sell then you are not losing money here, so it seems that you are in a panic mode. Obviously, this is a correction, maybe we can really identify the reason in the next couple of days, but for now it's all speculation as to what the cause of the sudden drop. And again, as I have said, it's not just crypto, stocks and golds also went down, so every market is really affected.

I do realize that, but this drop is not something that you can take your eyes off, was just wondering what happened or any explanation for it.