Everyone is panic selling their BTC

[X7]

Meanwhile... I'm just buying up the scared BTC like...

[slaveforanunnak1]

to the moon

[mercistheman]

Exactly... thank you scared fools for helping the cause 

[jonald_fyookball]

fine astronaut, you can have a beer on the moon, but if you try to drink it, you are going to die

why ?

[Abdussamad]

fine astronaut, you can have a beer on the moon, but if you try to drink it, you are going to die

why ?

 

[Skoupi]

You call that a panic sell? More like a walk in the park for BTC...

[zolace]

I was wondering if its the new york state causing panick or that stupid article and old news that was posted on google yesterday about the bitcoin warning, something we all heard before.

[Bit_Happy]

How much longer before BTC starts going up almost every day? 
Markets tend to be very tough to trade accurately, then hindsight makes everything look easy.

[Kayex]

Does anyone know why the price of BTC is dropping so suddenly?

[mblados]

I will buy some Panic BTC  . Guess who will cry later.

[mblados]

Does anyone know why the price of BTC is dropping so suddenly?

It is dropping because of a Panic Situation. People are Scared of some Warning News abt BTC.

[Katekyo]

fine astronaut, you can have a beer on the moon, but if you try to drink it, you are going to die

why ?

 

Didin't you know? They've got a prohibition there: No alcohol or you'll face death penalty!!

[peeveepee]

Sold out yesterday.

Hard to say at this point who will have the last laugh.

[nutildah]

They are buying xrp.

This is the best theory so far, however it only accounts for a fraction of the volume in the past 24 hrs. There is an amazing inverse correlation between XRP and BTC happening:

https://www.ripplecharts.com/#/

I think this is a miniature "perfect-storm" of events (note: not major). What I think is driving the price down is a combination of:

1. fears of regulatory clampdown in the U.S. and elsewhere
2. the exponentially-growing hashrate is finally collapsing
3. difficulty remains at all-time highs while mining revenue remains sluggish, with price
4. BTC is still up over 5-fold in 1 year and 54-fold in 2 years! Those are some darn fine returns to cash out on.

These charts do a lot of the explaining: https://blockchain.info/charts

Now for the good:

1. Bitcoin can't be 100% regulated. It just can't.
2. Millions of dollars are currently being poured into bitcoin startup ventures and some of the resulting projects will be profitable. With many brains and dollars at work its hard to imagine they will all fail.
3. The supply curve... will begin to even out over the next couple years, meaning bitcoin will finally become deflationary.

I think mass adoption is key and will ultimately drive the price of bitcoin, not speculation.

[zolace]

Does anyone know why the price of BTC is dropping so suddenly?

It is dropping because of a Panic Situation. People are Scared of some Warning News abt BTC.

yet didnt these people hear the same news months ago, and still people panic cause media spreads or over exaggerates what they hear in the government, or cause someone or something gets hacked, yesterday there was a warning at pcworld dot com.  Plus the 83,000 USD hack story from another media source.

[catena5260]

No, otherwise the price would be far lower.


There are people selling to rebuy back lower, and also the market manipulators. Any true panic seller already left us in th chinese ban drama.

Also I see strong evidence of market manipulation, because there are huge walls avoiding moves downwards or upwards that suddenly are gone.

So the only are left in the market are people with good emotional control, hodlers and manipulators, and I think the former ones are playing now to grab some cheap coins before we are back to normalization.

[bit0]

I always wondered what beer would taste like it in space.

There is still huge growth potential for bitcoin. I'm still curious what will happen a few years from now in developing countries. Remember, the internet itself is still growing and going mobile in those places. It's no longer just Internet cafés. It will be a bumpy ride until then.

[papalegba]

how far is this downtrend going to take us?

[eid]

I always wondered what beer would taste like it in space.

If it's the beer in the OP, not much, just like on earth. Real men.... blah blah etc.


Back on topic; I don't know why the price is plummeting but I likes it  

[papalegba]

i dont i didnt get a chance to sell my bitcoin before the plummet so now im stuck holding onto it and not getting any flow back into the panic sells. i fucked up...