I just got an Alert Notification on my Blockfolio App that Bitcoin just dipped below 7000 USD. I frantically logged onto Coinmarketcap and I see this view.
On closer look, it was clear that there was a Huge Dip which led Bitcoin from 7200 USD to 6750 USD in a matter of Hours. That is a 500 USD Dip plus it broke the 7000 USD mark which looks a bit Troublesome.
The only thing that comes to mind is someone or some Institution just Dumped a lot of Bitcoin to buy back at Low Prices. Even STEEM took a Tumble and fell from 2.1 USD to around 1.8 USD.
I have to say that these 5 Months have been very Bad for my Heart. The Market is keeping me on Edges and I am HODLING desperately plus I am acquiring more Cryptocurrencies.
Dont worry mate @arunava. The news about exchange hack, manipulation probe is all BS.
May have been a case that someone wanted to shake out small buyers and invite amateur shorts or selling out of positions..weekend usually has thin liquidity. There had been a long consolidation phase in the past few days and there may have been buyers wanting to pick btc up at key fib level of 7100 to 7200. I think a lot of people got stopped out. And it could have triggered a sharp decline.
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Oh, I actually forgot that it was a Weekend. Yes some people usually cash out on Weekends I totally forgot about that. I really wish I could have bought some Bitcoin now.
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Yeah people cash out when the week ends. Liquidity is usually thinner. Volume candles tend to be smaller compared to weekdays. I think if you wanted to buy on Sunday, may be you can think about it even now, its still only 3% higher. Lots of chartists are calling for some level between 4k and 5k, so if you see sense in what they say, may be good that you didnt buy and it might be worth waiting.
I am going to buy all these random crashes as much as i can afford to. For me, sec's opinion that bitcoin is not a security means that institutions will come on board at some point. I want to be prepared for that.
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Hello @arunava thank for the update on Bitcoin status today this is a bit scary and I hope that something better comes out of all this this month
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My Cloud Mining payouts have almost come to Zero.
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ohh no red days again
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Wow...what a dip. This is a great buying opportunity before the bull market starts, this time bitcoin will hit over 20K :)
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I am desperately waiting for it to happen.
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I noticed the same thing - but I also look at bitcoin futures. see my post.
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I hope the prices will rise soon.
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That is the Million Dollar Question.
hehe.
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You got a 35.38% upvote from @minnowvotes courtesy of @arunava!
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