Bitcoin Price CRASHED more than $1000… Why?

the price of Bitcoin plunged more than 12% overnight but it's already recovering in this video we're going to have a look at the price of Bitcoin on multiple timeframes we're going to talk about the expiration of CM e futures and if they could have something to do with the high volatility in the Bitcoin price now we're going to have a quick look at how the top all coins are performing and last but not least we're gonna talk about some news and as always if you guys like this kind of content and if you want to support the channel to get to 100,000 subscribers make sure to leave a like and also subscribe much appreciate it and now let's get started now what we're looking at on the price of Bitcoin is a drop of approximately 12% now I can tell you this already what I figured yesterday there are some new people already in the space who cannot handle this if I hear people talking about a blow off top or if I hear people talking about oh my god this is the crash to $6,000 or this is the crash to $1,000 then you are not experienced enough and you cannot handle the pressure if you're not fundamentally convinced about it okay and if to do so you could read this book over here the Bitcoin standard but if you're not fundamentally convinced if you do not understand why bitcoin is such a great technology if you want to call it that right it will be very tough for you to hold through such times because I can tell you this and I promise you this already at 12% drop overnight is absolutely nothing what you about to see there will be bigger drops there will be bigger crashes there will be 30 40 % crashes in the future but there will also be bigger pumps there will be even bigger hourly candles than this dump we have seen over a couple hours in here I can promise you that okay my message here is if you cannot handle the volatility you should not be in this asset okay and especially if you're not fundamentally convinced about it well it is pretty hard to hold on I can tell you this I held the majority of my stack my Havel position all the way from 20,000 down to 3,000 dollars and I didn't even care because I am fundamentally convinced about Bitcoin I know it's gonna come back and the short-term volatility for me is only interesting if I do Marcin trading on bit Mex but has absolutely nothing to do with my big huddle position now let's go to other timeframes well the 4-hour chart is actually quite beautiful yesterday what I tweeted out is that Bitcoin Bulls have to hold two resistance lines the one they didn't hold but the second one they did so this uptrend in here is still perfectly intact and as long as we're not breaking below that I'm still not all too worried yet if we start to break below this well obviously I'm then not going long any more then Bitcoin would be for me in a no trading zone and the next thing I would start to look out for if we're just talking about trading would maybe even be a short even though I'm not showing that often because I do not like that all too much it does not really make all too much sense having a big hard position but short term wise shorting the price yeah of course you can make an argument for that but maybe you get the conflict here right but anyway right now well we are definitely still in an area where you could look for an entry point for along I'm not saying you have to do that but it is still very clear if you enter along you have a clear stop-loss at this uptrend over here so right now in my opinion still tradable but once again if we fall below this trendline then I would be more cautious than I would be right now also something that I mentioned already in multiple life streams and other people mentioned as well is what if this is just a fake out and this is exactly what happened we bounced back pretty much into this range and it could be that we're consolidating here for a while before the next breakout to the upside so the bullish stream here to break out further from the $9,000 level or pre $9,000 level is still alive obviously the whole situation looks a little bit more neutral right now but the dream is definitely still alive well on the weekly chart the whole situation already looks way way different and it looks still like recovery maybe the whole parabolic move got slowed down a little bit and maybe we're gonna close this week in the retz maybe not right but even if you would do closest in the Reds this would still be perfectly healthy I mean at some point there has to be a correction right and if the 12% correction is going to be the only one well I would say that the Bulls are quite happy I personally would have expected a bigger correction or I would not have been surprised but maybe this was not the big correction yet right and we're about to see another one but if this was it well this is perfectly fine would also make the weekly chart a little bit more healthy so um yeah also something I want to talk about is re accumulation in this area over here and maybe not even seeing you all-time highs for quite a while but just go for another accumulation face somewhere between let's say eight thousand dollars and twenty thousand dollars and then after the half and we start into the next parabolic bull run I'm not so sure about that the thing is that I see new people already getting in more and more interest and the price movement the high volatility and everything is basically just supporting that even though we can clearly see we are nowhere near 2017 but keep in mind Bitcoin on its all-time high of interest well in 2017 was the second most looked upward on Google if you think about it right and by Bitcoin was not even that far behind so completely crazy what we have seen and we're nowhere there yet but if the price keeps going well who knows right now let's talk about why this all happened why this whole dump actually happened why do we see such high volatility and I'm pretty sure what you will hear a lot today is people are going to tell it it's because of the Bitcoin futures the expiration date of the Bitcoin futures on CME even though they do not have a direct impact on the price but maybe some people you know like when a manipulate so their position is gonna get close better or whatever well I doubt it let's be real I personally doubt it we have been looking on so many CME Bitcoin futures expiration dates right now I cannot even count it anymore and sometimes we have seen days with high volatility and sometimes we have seen days with absolutely no price movement at all so what we can say is that there is no clear correlation between CMI futures expiration dates and also the short term price of Bitcoin here so it could be it could also not be so I'm not going to give you a clear this is why the Bitcoin price sees such a high volatility I rather would say that some people were taking profits because if you think about it if you go to the weekly chart in here real quick and measure the gains we have to be realistic and see that those people who bought the perfect bottom who were lucky enough to buy the perfect bottom they are up 190 percent and no we're not talking about the whole position is on one hundred and ninety percent so choose 90 percent gains no we're talking about one hundred and ninety percent pure games so almost a 3x okay so it is just normal that some people are taking profits and also the $9,000 level for all those people who are already in cryptocurrencies is a big psychological level because of that whole the jitta mean it's over 9000 and all that kind of stuff maybe you doubt that right but I think right now the people who are in crypto most of them they know the meaning of the Vegeta meme right and maybe it means something to them so I would personally even say it is more the Vegeta meme the $9,000 psychological level then CMI futures than the expiration date but is that it's just my personal opinion just from my personal experience if you want to believe something else you're totally entitled to do that but now let's move on so what we're looking at next is a quick look at the top all coins and how they're performing to Bitcoin here we're looking at one hour all coin to Bitcoin stats 24 hours 7 days 1 month 3 months so if you go back to the 24 hour you can see that well all coins did not do quite well when Bitcoin took that hit and that's also something that we can see in the Bitcoin dominance the Bitcoin dominance actually went up by quite a bit since yesterday 3.5% that is actually quite a bit as far as the Bitcoin down and here is concerned will that continue well I don't know it's pretty hard to say but I would say if an all-season is going to happen again it's going to be after the massive Bitcoin pump ok so if you want to benefit from all season if you really think all season is gonna come back but you don't have your bags yet well maybe that's not even such a big problem but once again I personally cannot tell you if an all-season will happen again in the form of 2017 or not but what I can tell you already is that more than 90% of all these all coins will never see an all-time high again so make sure that you are holding the ride all coins but now let's talk about some news well actually it's only one news that I want to point out today I think price discussion was way more important today crypto chime coinbase since the first ever u.s. Bitcoin merchants trading for all those people out there who already know about marchin trading well most of them are trading on BET max or the ribbit by the way if you want to sign up for those links down below in the description but the problem here is that US citizens are not allowed to trade on these platforms and that could may be changed with coinbase you can see that there are so many margin trading platforms out there which are trying to copy bit max which figured that well ok this is a big thing but here once again I want to point out something I know that coin base is also not doing that but bit max is so big they have the highest trading volume in Bitcoin right from all the other exchanges and they do not have a token also they do not accept all coins the only thing you can do on bit max is go in with Bitcoin speculate with we're with your Bitcoin and go out with either more or less Bitcoin there is no token there is no all coin and they are the biggest Bitcoin exchange ok if that does not tell you something well it actually tells you that you don't have to raise money you don't need a token what you have to do is you have to provide a good product or the best product and people will come eventually US citizens not allowed to join that is actually quite sad but I understand why because this is not fully regulated obviously there are in the city jails and they have other offices and stuff like that but obviously with coinbase which is already semi regulated in the United States that could come and then that would be available for US citizens which would actually be quite cool in my personal opinion so definitely something we look out and coinbase and exchange I'm using for fiat crypto crypto Fiat transactions bit max and exchange I'm using for Bitcoin futures obviously so yeah definitely excited what's going on in the future with those exchanges that's for sure but that is it already for today once again don't forget to subscribe if you haven't done that yet the road for 100,000 is real right now thanks a lot for watching and I hopefully see all of you tomorrow in the next one bye

22 thoughts on “Bitcoin Price CRASHED more than $1000… Why?”

  1. Bitmex Futures (10% Discount on Fees):

    Deribit Futures & Options:
    Coinbase hints Margin Trading Article:

  2. If can handle the massive swings then get out of crypto bc we are gonna see more of this for the next 12 months. Best thing to do is make a decision put in the orders and stop watching it.

  3. What you had was a group pushed the price up. Caused the short squeeze then shorted a bunch and quickly sold what they bought. They killed it. Congrats on that move whales!!!!!

  4. What you had was a group pushed the price up. Caused the short squeeze then shorted a bunch and quickly sold what they bought. They killed it. Congrats on that move whales!!!!!

  5. Speculation smh.. listen people banks and financial institutions are testing this market..just buy and live your’s going up and one on YouTube really

  6. I lost 12% of my money. Will it bounce back up to 9k again or should I sell earlier at around 8700 or something?

  7. Conflict of interest, huh? Maybe you’re right, Sunny. Long-term hodl positions shake their head at short-term short positions. But that’s trading. If you need to short, don’t worry, btc will forgive you. Take those profits and add to that long-term hodl.

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