it seem somebody took huge positions which drove the price up then pulled out what seems to be the entire amount out which brought it down faster than it went up. . At any rate, i love bear markets because I buy in near the bottom and make a killing margin trading.

That said, this mornings was the largest flash crash to date. It was definitely not individual traders making the market move like that.

Im am not irrational. I am full time trader and thus highly analytical.

I heard that someone on GDAX accidentally sold +100 BTC for 87€ each. Jesus Christ! It's about $1000 for 100 BTC. In another word, the guy is not a millionaire anymore. Can it be a reason?
This say, we have seen Bitcoin losing about 30% in less than 24h before, so now losing 10% is peanut, especially when it will be back tomorrow

These moves represent less than 10% of market value, they're typical for Bitcoin. In theory it's the same quantity of voins being bought/sold, you just have a greater base huying and holding, which is driving market value up overall.

The volume moving is no different than what creates a $400 swing off a $5000 base.

I don't think any unusual activity is going on.

im looking for a drop to between 7500 and 8200  + or - within a week then the fun begins again

....ok maybe in a couple of day. I love this

Bitcoin always trying new high and then rolled back. It seems to me that therefore whales check the solvency of users. Now bitcoin some time will stay at the level 9000-10000 dollars. Then it will jump to $ 12,000. Reserves there. The psychological barrier is passed. The most important thing. Now $ 12,000 this year does not seem unattainable.

That post on tether is interesting! It sounds like we are at the mercy of the guys that are behind it. Hope they are honest.


Bitcoin futures can already be traded on at least a dozen site. Bitmex.com probably the best and largest $3,000,000,000 traded in the last 24 hours making it the larget btc exchange in existence.  $1m btc with 50x margin = $50m to trade . If the market moves 10% that would be a $5m profit. So the above example means theoretically somebody with enough cash to move the market up 10% and then back down 10% can make a huge profit $5m x two. And you can trade up to 100x  leverage on Bitmex.


I think if you push enough volume in and out, you can determine how many $$$ moves the market what % . Armed with that info you could lots of things depending on who you are and what you want to do.

Problem is that the other Altcoins are dropping, too.

I think these are very good points being made, but I would also just add this--ultimately, what difference does it make what, precisely, drove the market so high so quickly, and what, precisely, drove it back down?  No one here has any control or influence over these moves.  In a way, it's kind of like speculating about how many angels can fit on the head of a pin.  It might be wise to take a broader outlook, namely, we DO have past performance to look at, we DO know that Bitcoin has always been volatile and most probably will continue to be so in the forseeable future.  It's something we can accept and perhaps even profit from.