Good News but Price drops ?

[beetcoin]

this just goes to show how unpredictable bitcoin is.. with good news, you'd think the price would go up. if you read today's articles about 1 year ago, without knowing the price of bitcoin, you'd think it'd be rising beyond the moon at this point.

[Ludi]

this just goes to show how unpredictable bitcoin is.. with good news, you'd think the price would go up. if you read today's articles about 1 year ago, without knowing the price of bitcoin, you'd think it'd be rising beyond the moon at this point.

Surely it's a good thing that the price doesnt wildly fluctuate up and down with every bit of good or bad news. I'd prefer a bit of stability or a slow but steady growth.

[waylon james]

I don't mind the price drop as long as there isn't any bad news out.

[gondel]

I don't mind the price drop as long as there isn't any bad news out.

Think there will be lot of positive news for BTC and the price will go up again very shortly crossing the 650 border.
Sure it is the time to buy
Keep holding
BR

[counter]

Don't depend on news for a means of predicting the price at all times.  It may work at times but nothing is certain.  I recently came across a thread on the forums and the user stated the recent dip was common at the end of the month.  I forget the name of the member or section it was in and I'd rather not guess.

  I didn't look into the claim myself but a quick read of thread and nobody disputed the claim from what I'd read.  So maybe that has played some role in the price.  Maybe others are aware of this and taking it to their advantage point is don't depend on the price doing what you expect it to do all the time. Bitcoin has proven time and time again to be elusive when it comes to making accurate price predictions.  I don't expect the price to go very low but who knows, we could dip and all of a sudden shoot up out of nowhere to an all time high.

[howardb]

Where are you getting the info on the Whales? Is this reflected somewhere in the blockchain? Then I have missed it somewhere for sure.

Please provide evidence of this whale dump. Thanks.

The blockchain doesn't know anything about bitcoin's 'price'. You can see these things when you see the trades on bitcoin exchanges. If they coincide with some news being released, it's pretty obvious what caused a rise or fall of the price.

It's might not be obvious, but we have proof that someone dumped a ton of btc.



1. Around 4k-5k BTC dumped, pushes price to $591.49.
2. Around 2k-3k BTC dumped, pushes price to $575.80.
3. Arond 2k-2.5k BTC dumped, pushed price to $568.05.

There were more dumps on various exchanges, but i'm too lazy to look at that.

Yeah i've been following that too. BTC is being manipulated downwards at regular weekly intervals, often going for the quiet gap between US going to bed and China waking up when market is least liquid. Probably someone playing contracts for difference or other bitcoin derivative. An unregulated market is bound to be subject to this kind of manipulation, and what a great way to launder stolen bitcoins by dumping them on market to depress price, whilst simultaneously taking profit out of put type derivatives!!

There is also an argument that they are trying to trigger collapse by invoking margin calls. Either way, best way to protect yourself against these crooks is don't overleverage, and don't sell no matter how low it drops!

[valvalis]

good news would not affect the price of Bitcoin, but the bad news will make the price of Bitcoin dropped.

[pawel7777]

The Dell thing was a big news among all the bitcoiners, but don't think there was any massive coverage in the main stream media.
Also, those things usually don't cause the immediate effect (of price rise).

In my case, it took me something between 1-2 months from the moment I first heard of bitcoin and thought: "I need to check it out" till I actually did check it out.

It's not like thousands of people unfamiliar with the BTC gonna learn all about it and buy it within few days after hearing some news.

[Lauda]

Why is everyone so impatient? Just relax, these things take time.
If you were a billionaire, you wouldn't definitely just be like: 'Oh Bitcoin is cool, let me just invest a billion in it'.

[ArticMine]

Where are you getting the info on the Whales? Is this reflected somewhere in the blockchain? Then I have missed it somewhere for sure.

Please provide evidence of this whale dump. Thanks.

The blockchain doesn't know anything about bitcoin's 'price'. You can see these things when you see the trades on bitcoin exchanges. If they coincide with some news being released, it's pretty obvious what caused a rise or fall of the price.

It's might not be obvious, but we have proof that someone dumped a ton of btc.



1. Around 4k-5k BTC dumped, pushes price to $591.49.
2. Around 2k-3k BTC dumped, pushes price to $575.80.
3. Arond 2k-2.5k BTC dumped, pushed price to $568.05.

There were more dumps on various exchanges, but i'm too lazy to look at that.

Yeah i've been following that too. BTC is being manipulated downwards at regular weekly intervals, often going for the quiet gap between US going to bed and China waking up when market is least liquid. Probably someone playing contracts for difference or other bitcoin derivative. An unregulated market is bound to be subject to this kind of manipulation, and what a great way to launder stolen bitcoins by dumping them on market to depress price, whilst simultaneously taking profit out of put type derivatives!!

There is also an argument that they are trying to trigger collapse by invoking margin calls. Either way, best way to protect yourself against these crooks is don't overleverage, and don't sell no matter how low it drops!

My guess is Ethereum. They are dumping the BTC sold for ether.

[pawel7777]

My guess is Ethereum. They are dumping the BTC sold for ether.

Was thinking the same, but that's not true. They haven't touched their BTC funds yet:

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

[byt411]

My guess is Ethereum. They are dumping the BTC sold for ether.

Was thinking the same, but that's not true. They haven't touched their BTC funds yet:

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

I haven't really been following the Etherum news, but that's a lot of BTC. If they dump it lower than market price, it will plummet quite a bit. I hope they don't.

[dexX7]

Yeah i've been following that too. BTC is being manipulated downwards at regular weekly intervals

My guess is Ethereum. They are dumping the BTC sold for ether.

You two (or rather three) miss one point. The further the price moves from where it was, the more action there is. You'll probably notice high volume peaks in most support and resistance zones.

[1Referee]

Bitcoin will experience a slow but steady growth over the years. Not everything keeps going up. So what? Buy low, sell high 

[pawel7777]

My guess is Ethereum. They are dumping the BTC sold for ether.

Was thinking the same, but that's not true. They haven't touched their BTC funds yet:

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

I haven't really been following the Etherum news, but that's a lot of BTC. If they dump it lower than market price, it will plummet quite a bit. I hope they don't.

That's a lot, but will likely be much more. Their IPO period is pretty long. And can't imagine them dumping it all at once, that would be pretty stupid move for them. It's suppose to be a serious, transparent, long term development project (not some anonymous get-rich-quick BS), so they will likely release the funds slowly.

[flashChocolate]

Looks like an initial sell off before a big price rise to me, probably someone profit taking, it often happens note how there's a double bottom forming you have to wait and see whether it levels out now.

haven't there been multiple bottoms by now? we seem to break all of them!

[kingama]

Hello everybody,

In last week's there were many good News about Bitcoin, normally the Price would go to the Moon #Dell. But it goes every day down and down, also the Price is not anymore Stable, the Price goes 1 Step Up to fall hours later 2 steps down

this happened in october.

what you are finding is that popularity is rising. but the cost of mining is rising too. and ill explain the chain reaction

right now miners and investors who bought at $600 are pulling out their bitcoins and hoarding causing a volume drop. this means the investors who are using day trading buy,.. risking their stash to buy (usually keeping price up by creating buy walls) are not there.

and although volume has shrunk, the fall in price has not been big. in october we seen the $125 turn into below $100 (forgive bad memory)
this was when ASIC mining started and miners were seeing higher electric costs, so were not gonna sell at a loss, thus pulling out coin... like now.

that was a 20% drop (which if done today would see $650 turn into $520).

ok so there are some dumb people selling, but as we can see its a slowwwww movement which i dont see a problem with. because what comes next once the dumb investors have ran out of btc to sell. is that they will buy. and then even they should have realised their initial losses to not sell again at a loss, causing even them to hold.

then as i said there is less and less bitcoin to sell. meaning buyers will have to start eating up the sell wall, causing a price rise ( a price correction atleast. and they wont sell for a loss, so new buyers will continue to buy the increasing sell order prices..

one thing is for sure, if your waiting for bitcoin to be $1-500 think again, id treat this as the moment you buy in below $600 before it starts to go to $700-$1000 soon.

but thats my opinion

I like franky1's analysis.  I'm hodling.

[Beliathon]

Who cares ? Bitcoin doesn't exist to make english-speaking first-world pukes like us slightly richer than they already are.

We have everything, even the poorest among us have running water, electricity, decent food, ACCESS TO BANKING, and internet access.

There are like 4 billion people on this planet who lack some or all of the things I just listed. Bitcoin is for THEM, not for you.

Check your privilege.

[ferda2mx]

That seems to be the going theme lately.   I guess it could be looked at both ways...it could mean that there are going to be less and less knee jerk reactions to news in the market.   It will be interesting to see if we still say stable on pricing if we are hit with some legitimate bad news.

Actually, more companies accepting Bitcoin can cause the price to go down, since they basically just sell all the bitcoins they get paid via Coinbase or BitPay. So yeah, it might be that too.

This I thought as well, the -10% from dell when using Bitcoin is a good reason to spend some BTC there, thus lowering the Bitcoin price because dell insta sells the Bitcoins...

[Fiftysven]

Just see it as a privilege, for discovering this amazing technology early u might make some easy money and even if u dont, then u still got the technology. Win/Win