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[hibi3454]

Hey there everyone,

Today I would like to inform you all that the price of Bitcoin declined under $7,000 moments after a trader sold 1,000 Bitcoins on a big crypto exchange.
The transaction on Huobi Global on April 10, uncovered by Coin Metrics, followed a decline of about $250 for BTC / USD.

Does this mean all huge transactions of Bitcoin can greatly affect the price of Bitcoin?
What do you guys believe?

Thanks for Reading

 

[SCAMEXPOSER]

Thanks for the update. This has clearly shows that when there is free flow of bitcoin in market with less investors the price will crash but I am optimistic the drop will not last long cos lots of investors will rush to get it below $7k, the demand will rise while supply contract and the price will bounce again.

 

[mooooo]

Thanks for the update. This has clearly shows that when there is free flow of bitcoin in market with less investors the price will crash but I am optimistic the drop will not last long cos lots of investors will rush to get it below $7k, the demand will rise while supply contract and the price will bounce again.

so u think i gonna go blow 7k again before halving ? ! i think it not gonna go down i think it gonna up and up till halving from like 3-2 days it was 6.5k

 

[KarthikP]

so u think i gonna go blow 7k again before halving ? ! i think it not gonna go down i think it gonna up and up till halving from like 3-2 days it was 6.5k

Yeah it is increasing slightly from past 1 week , and most likely it's gonna increase till $9000 atleast before halving on May 13 , 2020

 

[Brain]

This is clearly what the economists opined, there will always be a drop in price when products or commodities are in huge supply and apparently this is what happened here. But with Bitcoin the rise and fall of it's price never ceases though

 

[SCAMEXPOSER]

This is clearly what the economists opined, there will always be a drop in price when products or commodities are in huge supply and apparently this is what happened here. But with Bitcoin the rise and fall of it's price never ceases though

Very likely the price may drop during Halving if truly the price drops when there is more supply of bitcoin to the coin market as during Halving more bitcoins will be released.

 

[hibi3454]

Thanks for the update. This has clearly shows that when there is free flow of bitcoin in market with less investors the price will crash but I am optimistic the drop will not last long cos lots of investors will rush to get it below $7k, the demand will rise while supply contract and the price will bounce again.

Yeah you are right actually, without investors the market can really start to fall off... but now the value at $7,700+ is looking really good and it may even cross $8,000 in the upcoming days

 

[microunit]

yep big price drops might be a cause of some whales in the trading market, whales referring to someone or some entity having a big amount of asset. whales do affect prices of crypto from time to time as the transaction they do are huge in amount though they rarely do transactions

 

[Brain]

Very likely the price may drop during Halving if truly the price drops when there is more supply of bitcoin to the coin market as during Halving more bitcoins will be released.

I see this happening too during halvong at least people wouldn't mind with the reward presented at that point,so a fall I price will be eminent.Buying Bitcoin then might just be the sure bet.

 

[SCAMEXPOSER]

I hope this comes to reality cos I am also planning to buy Bitcoin this period cos the possibility of rise after the Halving is high. 15 days away to the date .

 

[microunit]

I hope this comes to reality cos I am also planning to buy Bitcoin this period cos the possibility of rise after the Halving is high. 15 days away to the date .

you should've buy already if you are planning to, btc price is starting to rise up now it might be to late or profit might be lesser if you buy late as halving is just around the corner

 

[SCAMEXPOSER]

you should've buy already if you are planning to, btc price is starting to rise up now it might be to late or profit might be lesser if you buy late as halving is just around the corner

I am kinda skeptical, it is very possible if I buy now the price may fall, though I checked and ripple price has dropped so I am thinking of Investing on ripple then swap to bitcoin when the price of ripple shoot up.

 

[microunit]

I am kinda skeptical, it is very possible if I buy now the price may fall, though I checked and ripple price has dropped so I am thinking of Investing on ripple then swap to bitcoin when the price of ripple shoot up.

yep the price may fall but due to the halving it will surely rise again, you can look at past btc prices statistics to get a much more idea, and probably that will also help you make your decision

 

[hibi3454]

yep big price drops might be a cause of some whales in the trading market, whales referring to someone or some entity having a big amount of asset. whales do affect prices of crypto from time to time as the transaction they do are huge in amount though they rarely do transactions

Oh right, I have heard of such investors or "whales" as you term them. I have also read that as soon as there is a massive bitcoin transaction that takes place, the value of Bitcoin slightly dips

 

[SCAMEXPOSER]

Most of the huge holders of bitcoin do determine the price of bitcoin, for instance if a trader sell 2000 bitcoins now it will make enough available in the market ,the investors won't go through stress to get it so the price will drop while the transaction fee will rise due to size of transaction.

 

[Yuanbdz]

It is not just because of 1000 Bitcoins but because of the 13,000 Bitcoin selloff by Plustoken, a group of online scammers in China. The 1000 Bitcoin was found by a miner and sold it last March. These two are the reason of sudden price drop of Bitcoin.

 

[salvi]

Yes, when supply increases demand decrease which we know in Economy however as bitcoin had high transaction thus we can point one of them. I also think that this is the right time to purchase for short time.

 

[brent_abella]

Most of the huge holders of bitcoin do determine the price of bitcoin, for instance if a trader sell 2000 bitcoins now it will make enough available in the market ,the investors won't go through stress to get it so the price will drop while the transaction fee will rise due to size of transaction.

Yeah I agree with this. The wealthy ones or the so called "whales" are mostly behind of the massive selloff in Bitcoin resulting its price to suddenly drop.

 

[Balint098]

They can influence the price by buying or selling their huge amount of bitcoin yup. I just hope that they don't manipulate the price that much.

 

[SCAMEXPOSER]

They won't manipulate much because they can flood the market to an extent that they will loose, they regulate it in their own favour at all cost.