Post
Topic
Board Speculation (Altcoins)
Re: 24.09.2019 - another black day in crypto? (Red Market) reason?
by
jmigdlc99
on 04/10/2019, 12:22:04 UTC

wtf? market is red :/ everithyng is red.

have any idea, what is reason?
or its just (only) Pump - Dump game?

Not to be as crass, but it's most likely just part of the pump n dump cycle.

Bitcoin price value is highly affected by gossip, rumors, and news. So when people heard that the new Bakkt bitcoin exchange only had 7 bitcoin volume on first day (compared to CME futures which did 5000+) coupled with the fact that the VanEck SolidX bitcoin ETF was being shut down, people naturally over-panicked and oversold.

As we see tho, bitcoin is again on the rise just in time for the pump. The cycle continues..