Quote from: Herbert2020 on May 12, 2018, 06:50:03 AM

Quote from: Flight-87 on May 11, 2018, 10:53:45 AM

Few days back I was this close to buying BTC when it was around 10k, but halted for some reasons. Now I see the price is around 8.6k and I wonder why the sudden downwards trend! I see no major news out there (or maybe the statements of mr. buffet and gates?). What could be the reason and how dip the price can go?

the Buffet + Gates news was a failed FUD which came out a couple of days ago. it is a failed one because price didn't move a penny after that but the media was filled with the bullshit all the same.

Correct, the WB + BG FuD is a complete fail. The price didn't move. On the contrary those 2 looks dumb based on their assessment about bitcoin.

Quote from: Herbert2020 on May 12, 2018, 06:50:03 AM

the price is still above the lower buy support so i still wouldn't consider this a considerable "drop", but just a testing of the bottom support to see how the market reacts. it is possible that some whales weren't satisfied with the amount of bitcoin they had accumulated so they had to do something about it and make some short term profit and gather some cheaper coins at a good discount.

They are really at a advantage from all of us. They have control and can dictate where the price should go. Its possible that someone manipulate the price from behind and in return needed more bitcoin because of greediness. And biggest impact though is the Mt. Gox trustee again. The ghost of Gox still haunts us up to his day.