Post
Topic
Board Bitcoin Discussion
Re: Is this why Bitcoin is crashing?
by
kissme09
on 27/09/2019, 19:30:10 UTC
Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:

https://cryptotradernews.com/crypto-trader-pro/what-triggered-the-mighty-bitcoin-fall/

My key takeaways:

    • September is typically a bad month
    [/b]
    • Baakkt is not doing very well
    • It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis


    Thoughts?

    • I don't think it is about September. In September, 2017 Bitcoin was rising speedly.
    • It may related with BAKKT. But I am not sure BAKKT can affect BTC's price this much.
    I don't think the market grows or dump depends on the time of year. I realize that the market has grown four times higher than Q1, so this is the time when the whole market corrects in price.
    Baakkt may not have created a good trending, so it is and is also negatively affecting the entire cryptocurrency, however many whales take advantage of this event to control the market, making things worse.[/list]