All top 15 in red

mremo said:
Historically btc always goes down at the end of the year --> jan then comes back up.. just saying
Click to expand...
What are you talkin' about ?

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On a day like this you aint getting fast bro....
Fastest and most expensive is LocalBitcoins as your ONLY option.
 
It all started because the co-founder of Bitcoin.com said something like bitcoin itself is becoming unsustainable because its fees are too high and such. He then said he has sold all his holdings to hold on to bitcoin cash (which he co-founded too). That's when the dumping began and everyone was temporarily jumping off to altcoins, especially bitcoin cash.

That's why bitcoin cash was around $2000 then and it jumped to nearly $4,000.

Seems that most newbie speculators thought bitcoin is over and they started their dumping to hold bitcoin cash. Triggering the price of BCC to start soaring its way to $4K while BTC started falling from 18-19K to 17K. Then it happened. The panic selling occured and it started falling and falling.

Then, that sparked even more panic that most BCC holders started selling their share too (or maybe whales and smart ones start cashing out at its high) and that also triggered mass selling. That's why it fell to almost 3K in just 1 day. I believe there's some pump and dump right here - especially from the co-owner of bitcoin.com.

Best part? Even the litecoin owner sold all his litecoins when it was at its high and he said he did so because he is 'sick of people saying he has a conflict of interest and that he shorted his own litecoins to make more'. The irony of the statement. And that's how litecoin came crashing too.

All these caused a huuuuuuuuuge mass sell, and it is worsen by the typical 'get rich quick' newbie speculators.

I'm not trying to be smart here (I'm still learning, remember?) but I had a few acquaintances who messaged me and said, "UH oh, the bubble has popped. Did you get out yet?" but I disgress and didn't sold my share. In fact, I exchanged for somemore bitcoins when it was in the 15,000 range. I know the lowest it can hit is between the 13,400-14,000 range which was the previous low before CBOE launched its bitcoin futures and there was some selling occuring back then.

Untitled.jpg

And here's another theory I propose. All the mass dropping of altcoins are caused by trading bots. Because altcoin prices are pegged to bitcoins (0.000xxxx) and its price in USD is pegged from bitcoin prices too. This causes those with trading robots to hit sell points unwantedly and it starts exiting their positions. Again, this is just my theory. But if this is valid, then you can expect quick re-rally on all altcoins soon when these traders took notice that their trading robots have falsely executed these sell orders.
 
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Vapys said:
On a day like this you aint getting fast bro....
Fastest and most expensive is LocalBitcoins as your ONLY option.
Click to expand...

yeah like i said i fucked this one up, but oh well, you live and you learn....
 
Sophie said:
It all started because the co-founder of Bitcoin.com said something like bitcoin itself is becoming unsustainable because its fees are too high and such. He then said he has sold all his holdings to hold on to bitcoin cash (which he co-founded too). That's when the dumping began and everyone was temporarily jumping off to altcoins, especially bitcoin cash.

That's why bitcoin cash was around $2000 then and it jumped to nearly $4,000.

Seems that most newbie speculators thought bitcoin is over and they started their dumping to hold bitcoin cash. Triggering the price of BCC to start soaring its way to $4K while BTC started falling from 18-19K to 17K. Then it happened. The panic selling occured and it started falling and falling.

Then, that sparked even more panic that most BCC holders started selling their share too (or maybe whales and smart ones start cashing out at its high) and that also triggered mass selling. That's why it fell to almost 3K in just 1 day. I believe there's some pump and dump right here - especially from the co-owner of bitcoin.com.

Best part? Even the litecoin owners sold all his litecoins when it was at its high and he said he did so because he is 'sick of people saying he has a conflict of interest and that he shorted his own litecoins to make more'. The irony of the statement. And that's how litecoin came crashing too.

All these caused a huuuuuuuuuge mass sell, and it is worsen by the typical 'get rich quick' newbie speculators.

I'm not trying to be smart here (I'm still learning, remember?) but I had a few acquaintances who messaged me and said, "UH oh, the bubble has popped. Did you get out yet?" but I disgress and didn't sold my share. In fact, I exchanged for somemore bitcoins when it was in the 15,000 range. I know the lowest it can hit is between the 13,400-14,000 range which was the previous low before CBOE launched its bitcoin futures and there was some selling occuring back then.

View attachment 98836

And here's another theory I propose. All the mass dropping of altcoins are caused by trading bots. Because altcoin prices are pegged to bitcoins (0.000xxxx) and its price in USD is pegged from bitcoin prices too. This causes those with trading robots to hit sell points and it starts exiting their positions. This is my theory.
Click to expand...

fuck Charlie lee. he might be a smart programmer but hes def one of the shittiest business people ive ever seen.
Litecoin goes up he tweets " it might go down to $20!" ... then 2 weeks later sells all his litecoins...
Imagine if a company owner like Jeff Bezos of Amazon will sell all of his amazon stocks tomorrow... red flag isn't it?
freakin idiot. not buying litecoin again.
 
Man this thread went on fire :D:D
 
zionbar said:
fuck Charlie lee. he might be a smart programmer but hes def one of the shittiest business people ive ever seen.
Litecoin goes up he tweets " it might go down to $20!" ... then 2 weeks later sells all his litecoins...
Imagine if a company owner like Jeff Bezos of Amazon will sell all of his amazon stocks tomorrow... red flag isn't it?
freakin idiot. not buying litecoin again.
Click to expand...

Yeah :(

Now I'm keeping track whether it will bounce back. But I think the next resistance point (or rather, range) is between the $16,400 to $17,200 range. If the market fail to bounce back through this within the next few days then I think the prices will stay be fluctuating between the 15K-16K range till after the New Years before a new rally could make it happen (you know, those new year's resolutions - make xxxxx this year, buy cryptos as investment - LOL jk).

But if worse comes to worst and it sinks below 13.4K, then it may continue sinking to 10K, which will be the next support line. And if it also breaks through this point... ohhh boy.

But again, I'm still learning and all these are just my opinions. Don't take em' seriously.

Okay.... enough of crypto for the day. Back to work and my book.
 
Sophie said:
It all started because the co-founder of Bitcoin.com said something like bitcoin itself is becoming unsustainable because its fees are too high and such. He then said he has sold all his holdings to hold on to bitcoin cash (which he co-founded too). That's when the dumping began and everyone was temporarily jumping off to altcoins, especially bitcoin cash.

That's why bitcoin cash was around $2000 then and it jumped to nearly $4,000.

Seems that most newbie speculators thought bitcoin is over and they started their dumping to hold bitcoin cash. Triggering the price of BCC to start soaring its way to $4K while BTC started falling from 18-19K to 17K. Then it happened. The panic selling occured and it started falling and falling.

Then, that sparked even more panic that most BCC holders started selling their share too (or maybe whales and smart ones start cashing out at its high) and that also triggered mass selling. That's why it fell to almost 3K in just 1 day. I believe there's some pump and dump right here - especially from the co-owner of bitcoin.com.

Best part? Even the litecoin owner sold all his litecoins when it was at its high and he said he did so because he is 'sick of people saying he has a conflict of interest and that he shorted his own litecoins to make more'. The irony of the statement. And that's how litecoin came crashing too.

All these caused a huuuuuuuuuge mass sell, and it is worsen by the typical 'get rich quick' newbie speculators.

I'm not trying to be smart here (I'm still learning, remember?) but I had a few acquaintances who messaged me and said, "UH oh, the bubble has popped. Did you get out yet?" but I disgress and didn't sold my share. In fact, I exchanged for somemore bitcoins when it was in the 15,000 range. I know the lowest it can hit is between the 13,400-14,000 range which was the previous low before CBOE launched its bitcoin futures and there was some selling occuring back then.

View attachment 98836

And here's another theory I propose. All the mass dropping of altcoins are caused by trading bots. Because altcoin prices are pegged to bitcoins (0.000xxxx) and its price in USD is pegged from bitcoin prices too. This causes those with trading robots to hit sell points unwantedly and it starts exiting their positions. Again, this is just my theory. But if this is valid, then you can expect quick re-rally on all altcoins soon when these traders took notice that their trading robots have falsely executed these sell orders.
Click to expand...

I think the rise of BCH/btc suffering is related to its listing on Coinbase and not for what bitcoin.com founder said.
Same reason XRP is now on fire - speculations about its listing on Coinbase
 
Sophie said:
Yeah :(

Now I'm keeping track whether it will bounce back. But I think the next resistance point (or rather, range) is between the $16,400 to $17,200 range. If the market fail to bounce back through this within the next few days then I think the prices will stay be fluctuating between the 15K-16K range till after the New Years before a new rally could make it happen (you know, those new year's resolutions - make xxxxx this year, buy cryptos as investment - LOL jk).

But if worse comes to worst and it sinks below 13.4K, then it may continue sinking to 10K, which will be the next support line. And if it also breaks through this point... ohhh boy.

But again, I'm still learning and all these are just my opinions. Don't take em' seriously.

Okay.... enough of crypto for the day. Back to work and my book.
Click to expand...

Great observations, I much as many will hate me for saying I wish it hit the 10ish mark to buy more but from what I can see the bottom is $13,500 tonight.
 
F4lken said:
I think the rise of BCH/btc suffering is related to its listing on Coinbase and not for what bitcoin.com founder said.
Same reason XRP is now on fire - speculations about its listing on Coinbase
Click to expand...

And maybe that too could have amplified the insane surge in price. But who knows as those speculators are just jumping in and out senselessly. lol

And yeah, XRP is on fireeeee~~~~ she's on fire~~~~~~

Thankfully I bought it at $0.25, then up my ante when it hit $0.70. I, again, upped my ante when it hit $1.

I've also been hearing about rumours (again, rumours can just be fake or false as it's unverified) that Amazon may implement Ripple's technology next year. Just read up Ripple's coin's website and you'll be impressed with its technology and what it can offer.

XRP may hit $2 by the end of the year. Who knows.

I have strong faith in XRP, IOTA, and Cardano. I'm also been reading up and trying to add another coin to my crypto portfolio.

Vapys said:
Great observations, I much as many will hate me for saying I wish it hit the 10ish mark to buy more but from what I can see the bottom is $13,500 tonight.
Click to expand...

And the worst part was... my previous, previous exchange (a week ago or so) was around the 17K price range >.<
That was before the massive sell-off occured. Oh well... that's speculation and we all know the risk of this volatile market.

But if it does fall to the 10K range, expect a rapid rally. Just remember how BTC hit $1K before it crashed down to the $400-500 range and then it rallied to where it is today. Provided that the SEC or government doesn't announce any regulations or whatsoever; or some drastic bad news.

Also, the $13,500 isn't really the bottom yet. Now the price may seem to be bouncing back up but we've not fully seen the Asian and Europe's reaction yet, particularly China and Russia. We can be safe right after tomorrow if prices still stay above $13,500 then.

P.S: It looks like a head and shoulders formation, ain't it? If it is, then the projected fall from the neckline should be done.
 
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Sophie said:
P.S: It looks like a head and shoulders formation, ain't it? If it is, then the projected fall from the neckline should be done.
Click to expand...

Oh wait, it technically isn't a H&S formation as the head didn't 'touch' or have any neckline. Sorry!!! I guess I need to freshen up my technical analysis knowledge learnt in college!

Anyway, I was also told that the mass selling could also be due to these 2 news:
  1. South Korea, one of the countries where major BTC trading occurs, may impose taxes on all capital gains made in cryptos.
  2. Then there's this: https://biglawbusiness.com/bitcoin-cryptocurrency-trades-face-new-liability-in-tax-bill/
 
There's a conspiracy going on that they are trying to drive the ripple price up so more people will pump money into BCH and eventually overthrow Bitcoin
 
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