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dmbadillo10

BTC Quick Plunge - What Caused The Huge Drop? 🤔

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Heya guys,

As we are all putting out our predictions on my other topic, we've seen a huge drop on BTC since yesterday. 😭

I tried to browse for news/facts about the drop. But im seeing different stories/theories. What somehow amazed me negatively was, the drop happened within a 30-minute timeframe! 😑

Could this be due to mass selling during the pump? I hope some here are keen on BTC movement so we can have nice and fruitful discussion about this.

Kindly drop your comments below. 👍

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1 minute ago, UltraChief said:

Probably some big wallet dumped their coins and exit the market. Nothing really of importance here other than buying some old coins is possible. Just wait and watch for the net pump and when the recovery happens.

Hmm. That's a fantastic timing for that huge wallet to dump all their BTC. Waiting a little longer could delay whatever they plan to do with their money.

Anyway, I agree. BTC should be able to fight thru the 6.5k$ fence, then will decide if it will go over 7k$ or go lower than 6k$.

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58 minutes ago, dmbadillo10 said:

~ What somehow amazed me negatively was, the drop happened within a 30-minute timeframe!  ~

This only confirms that the dump was made by one person, or maybe by a few, but by not many traders definitely. 

The market is bleeding hard currently and just looking at the front page of CoinMarketCup right now can give us bad emotions. 

But it's not for the first time, right? We know, BTC will recover even harder in the nearest future. :) 

Edited by Betwrong

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1 minute ago, Betwrong said:

This only confirms that the dump was made by one person, or maybe by a few, but by not many traders definitely. 

Panic selling it must have been. Even if the first dump is not big the panic sellers make it even larger.

1 minute ago, Betwrong said:

 The market is bleeding hard currently and just looking at the front page of CoinMarketCup right now can give us bad emotions. 

During such times I close myself off the net. No use wasting time worrying because this is just another cycle.

1 minute ago, Betwrong said:

 But it's not for the first time, right? We know, BTC will recover even harder in the nearest future. :) 

Of course it will. I am always bullish on Bitcoin and the top 10 altcoins and I am sure you all are as well.

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27 minutes ago, Betwrong said:

This only confirms that the dump was made by one person, or maybe by a few, but by not many traders definitely. 

The market is bleeding hard currently and just looking at the front page of CoinMarketCup right now can give us bad emotions. 

But it's not for the first time, right? We know, BTC will recover even harder in the nearest future. :) 

Which is really makes me say Wow. I mean, one person can do that, make the market crashed only from 1 person.

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Thanks you very much for sharing valuable information  concerned about bitcoin price . As far as most of us predict the price will rose close to 10k by the end of these years.However , I have read many articles about btc price fall and rise in short in those days was due to short term traders who think to get profit on a tiny duration.Nevertheless  the outcomes shows  like these situation , we all hope in a positive direction of the btc price in this year.

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6 hours ago, Betwrong said:

This only confirms that the dump was made by one person, or maybe by a few, but by not many traders definitely. 

The market is bleeding hard currently and just looking at the front page of CoinMarketCup right now can give us bad emotions. 

But it's not for the first time, right? We know, BTC will recover even harder in the nearest future. :) 

Definitely. BTC, along with the Top 2-10 coins will surely bounce back. 😉

We just need to be keen on the news, and be patient and let BTC do its thing.

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I think it will be even more interesting if the movement goes up and down quickly. therefore there will be many buying and selling transactions.

signifying Btc is a coin that everyone needs. is it a game for a broker to make the crypto market hot? I have no idea  9_9

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2 hours ago, Noahbreezy said:

Simple, still too much noobs on the market panic selling. 

I don't think nubs can affect like that the market.. 1k$ drop is kinda big, i think it could be some whales who just exit to get their cash..

Edited by MrNice23

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6 hours ago, SEMPAXs said:

I think it will be even more interesting if the movement goes up and down quickly. therefore there will be many buying and selling transactions.

signifying Btc is a coin that everyone needs. is it a game for a broker to make the crypto market hot? I have no idea  9_9

Whales mostly control the price game. As they have the most assets in terms of BTC.

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Someone sold 10 millions $ equivalent in BTC and the panic selling started right after that. People sold at 7-7.3k$ (or around) and are now buying back at 6.3-6.6k$ making huge profit. Even with only 1 BTC sold and bought back ... it's an easy 500 to 1000$ profit in just 2-3 days. So imagine how much whales made and why this happened (and will happen again in the future) ;)

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2 hours ago, Kargai said:

Someone sold 10 millions $ equivalent in BTC and the panic selling started right after that. People sold at 7-7.3k$ (or around) and are now buying back at 6.3-6.6k$ making huge profit. Even with only 1 BTC sold and bought back ... it's an easy 500 to 1000$ profit in just 2-3 days. So imagine how much whales made and why this happened (and will happen again in the future) ;)

That whales though, such an easy money they made. With a huge amount of money they can easily control the bitcoin price.

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8 hours ago, Kargai said:

Someone sold 10 millions $ equivalent in BTC and the panic selling started right after that. People sold at 7-7.3k$ (or around) and are now buying back at 6.3-6.6k$ making huge profit. Even with only 1 BTC sold and bought back ... it's an easy 500 to 1000$ profit in just 2-3 days. So imagine how much whales made and why this happened (and will happen again in the future) ;)

I agree. This is a usual routine from whales, and the quick draw traders.

I just hope BTC can keep up with this.

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57 minutes ago, dmbadillo10 said:

I agree. This is a usual routine from whales, and the quick draw traders.

I just hope BTC can keep up with this.

"15,593 of 111,114 BTC from a very old wallet have been sent to exchanges.
According to rumors, this wallet can be related to Silk Road, MT Gox or even Nakamoto" That's what i found about the recent drops.

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4 minutes ago, roomfirst said:

"15,593 of 111,114 BTC from a very old wallet have been sent to exchanges.
According to rumors, this wallet can be related to Silk Road, MT Gox or even Nakamoto" That's what i found about the recent drops.

I see. Thanks for sharing. Maybe a clean link to the full article would give us some more knowledge of that info.  👍😉

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1 minute ago, dmbadillo10 said:

I see. Thanks for sharing. Maybe a clean link to the full article would give us some more knowledge of that info.  👍😉

I got it from a telegram group, and it linked to this site https://www.trustnodes.com/2018/09/05/one-billion-dollars-worth-bitcoin-move-100-million-sent-exchanges

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Many  people hope bitcoin to rise near 10k by end of this year so far as the result has shown  negative value even now we got shock that the price might fall back under 6k nowadays. Bitcoin's blooming days of late 2017 was already left  behind  and many experiences traders did not hold for a long time when they realized when  the price did not back over 10k .So there are many traders who hold many coin sold out their ones in the market within a short period time  which significantly affecting the capital market. 

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