rdbase Posted June 4, 2019 #1 Posted June 4, 2019 I was on stake and winning some crypto using eth and btc but then just when I was about to withdraw I went to check the price of what I had won. Then I notice the price is $800 less then it was earlier in the day. What gives?!? Anyone know why the sudden spike so rapidly? I havent seen it dump in price like this since last year.
DreamStage Posted June 4, 2019 #2 Posted June 4, 2019 It is called Market's self Adjustment: https://www.realized1031.com/glossary/market-adjustments Do not be scare what so ever as it will be recovered eventually during the week as it always has been. So far it is always like this, starting with a small bull run (If you wanna call it like that) or someone buying so much that makes the price go higher in few seconds. And there will always be someone out selling big as in rush for some profits or it is just market adjustment.
rdbase Posted June 4, 2019 Author #3 Posted June 4, 2019 Somebody did say it might be because of the sudden movement of a large amount of bitcoins right before the dump in price. Don't know how reliable it is to believe in just a 'movement' of coins can cause this because you dont know what they did with these coins in the end. Sell or just did altcoin trading. "This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?" https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S
williamshennie9 Posted June 4, 2019 #4 Posted June 4, 2019 These things happen in the crypto market. I predicted the price increase was due to whales bumping the price up, and now they have sold some of their coins at the inflated price, so the market price has dropped. The crypto market is wild lol.
rdbase Posted June 5, 2019 Author #5 Posted June 5, 2019 Not really shennie, It was proven it was a bitcoin whale who sent over 25,000 BTC in two separate transactions to coinbase then selling it to drop the price, then immediately buying them back up for a lower price. He made millions doing this. Remember when the price fell a few weeks ago? It was the same tactic used but it was on bitstamp instead. Alot of longs got liquidated on bitmex when this happened. And where does bitmex get their prices from? ~Bitstamp and Coinbase.😒
HumberRolls Posted June 5, 2019 #6 Posted June 5, 2019 Quiet nothing happens after the price will rise like crazy or at least the bitcoins bubble is broken and there chao satoshi Nakamoto: P
rajamishra Posted June 5, 2019 #7 Posted June 5, 2019 hello friend its the market trend hold a particular price in more time not possible either decrease or increase.but before a long jump to high rise its step one foot back and jump to the moon . wait for the right time and hold coins if you.
barbaris Posted June 5, 2019 #8 Posted June 5, 2019 I, too, are frightened by these sharp price reductions and I lost a little bit because of this. Let's hope for the subsequent rise in Bitcoin price.
nuuuitsjdragon Posted June 5, 2019 #9 Posted June 5, 2019 It’s just a slight correction for Bitcoin since it’s an extremely volatile asset. As far as I can see, nothing to worry about. It’ll probably take some time before it comes around to 8,000+ so hold your horses! If you’re trading, seeing red dips like that is a concern for your mental heath... take a chill pill and get away from the price indexes! 😎
LOlzer Posted June 5, 2019 #10 Posted June 5, 2019 supply and demand, easy concept as bitcoin is limited quantity I believe, and bitcoin stops mining in 2030, tbh its bitcoin so what could you expect, its just as volatile as a nuclear powerplant, anything that can change something and it will explode
sdsdfbsfsd Posted June 5, 2019 #11 Posted June 5, 2019 im a little concerned over this issue not gonna lie but being a regular bitcoin user i am more concerned abut the likes of ethruem overtaking bitcoin and bitcoin becoming back to its very low original price tag
cryptofly Posted June 5, 2019 #12 Posted June 5, 2019 Also, when cryptomarket is up is because the money from wall street goes out to bitcoin. As an alternative market, bitcoins has been very good. Wall Street, Nasdaq, NYSE, etc. were going down and trades took money out and put to work in bitcoin. Right now the centralized market is going up so whales moved their coins from exchanges to fiat wallets. You also can see the marketcap how is it moving. Good Luck mates !
Administrator Steve Posted June 5, 2019 Administrator #13 Posted June 5, 2019 I try not to pay attention to the price too much and just HODL for the future
ceastem Posted June 5, 2019 #14 Posted June 5, 2019 I'd like to think about the recent bump as investment space for us all seeing it surge upwards, it wouldn't be bad at all for us to have it go down and invest some more before reaching its peak! I honestly don't mind the price too much unless it goes to 15k usd That's widrawing time for me. Also, if it does not reach at least that high, i'll just save it again for the next run no matter how long it takes me to wait. It's my first time to HODL so I'd like it to be HUGE
Kate Posted June 8, 2019 #15 Posted June 8, 2019 It was due to a whale because a whale moved so.e coins like in millions to coinbase and sold at a low price and then bought them and sold them at an even higher price and then bought it for the low price that was there before.
mutrang23 Posted June 8, 2019 #16 Posted June 8, 2019 On 6/4/2019 at 8:01 AM, rdbase said: I was on stake and winning some crypto using eth and btc but then just when I was about to withdraw I went to check the price of what I had won. Then I notice the price is $800 less then it was earlier in the day. What gives?!? Anyone know why the sudden spike so rapidly? I havent seen it dump in price like this since last year. Do not worry because Bitcoin is always the currency with high volatility. Price is rising too fast for a long time, and it had a short-term price adjustment. So the price of Bitcoin has dropped 10% in the past few days, don't worry. Bitcoin prices will rise again.
williamshennie9 Posted June 9, 2019 #17 Posted June 9, 2019 I will say now, the price does seem more or less stable at the $7950 mark. I'm sure after some news in a few weeks, something will cause it to increase a lot more, or come crashing down. Let's hope for the former.
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