Re: Is this why Bitcoin is crashing?

Quote from: funchiestz on September 27, 2019, 05:48:38 PM

Quote from: cryptomarketyourself on September 27, 2019, 05:43:46 PM

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

Baakkt is not doing very well
Its 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.

Your points are valid because you can not really attribute the price of bitcoin either increasing or decreasing unless it is either Christmas time or New years. Chinese or other wise.
But pointing out Bakkt might be a culprit is highly related to what happened since it did occur at the very same time from its launch.
Was it a coordinated attack on bitcoin's price from what the $1.2 billion usd worth of bitcoin that was sent to an exchange?
You make your own opinions on this revelation from the previous threads I responded to on the issue.[/list]