Quote from: apache20 on Today at 07:25:05 PM

Quote from: escrowmycoins on Today at 01:03:12 PM

Is it manipulation? or just not breaking the resistance of 12K Area?
I am shocked of this recent drop and i am a long term holder, what do you think it will happen? just a correction?

I think the huge S&P correction today and it's being overextended was a big part of recent downward moves in Bitcoin.. it's pretty well established that BTC has a connection with that index. I looked at the RSI for the S&P daily and just before today's dump it was at 80 and had been well over 70 for a while. Yikes... accident waiting to happen and doesn't take a genius to see that coming. I'm just glad the panic wasn't worse...so far anyway.

But yeah, I think bigger players were being cautious due to the S&P being way extended to the up lately. Nothing nefarious going on that I can see. Plus, they say August/late summer is historically a shitty time for crypto markets.

I don't think that crypto is related to S&P that much, but what is most importantly is whether we broke the bullish trend or not, if yes i will cash the heck out now.
What kind of accident you are waiting to happen btw?