Bitcoin falls below $300, lowest in 11 months
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Bitcoin falls below $300, lowest in 11 months
1–10 of 113 posts
Re: Bitcoin falls below $300, lowest in 11 months
#2Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin.
It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcement on the way.
Re: Bitcoin falls below $300, lowest in 11 months
#3Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin. It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcemen…
There's always insider manipulation, but people cannot prove it either way.
It's like saying that there is insider manipulation behind every price dip and price rise on wallstreet.
Maybe it's true. Maybe it's not. You cannot prove either way. So it's just noise.
Re: Bitcoin falls below $300, lowest in 11 months
#4Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin. It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcemen…
That's not how PayPal's "bitcoin integration" works. All it is is a partnership with bitpay, where if you're a paypal digital merchant (doesn't sell physical things), and you also have a bitpay account, you can link them.
So someone buys something from you, sends bitcoin to bitpay, bitpay sends actual money to paypal, paypal takes a cut, and gives it to you.
Before you would just use your bitpay account to get actual money, and paypal wouldn't get a cut.
The PayPal partnership is silly.
Re: Bitcoin falls below $300, lowest in 11 months
#5Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin. It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcemen…
Did you manage to rebound the price by a few pips with this suggestion? ;0)
Re: Bitcoin falls below $300, lowest in 11 months
#6What are the major reasons to be bullish on bitcoin right now?
Not sarcasm, totally serious.
I've owned a small amount of bitcoin for a while and have followed the market from a far. This observation is highly anecdotal, but I just haven't seen many signs of serious traction over the last six or nine months (i.e. post a ton of the initial retailers partnering to accept bitcoin, Coinbase raising their monster round, etc.)
Re: Bitcoin falls below $300, lowest in 11 months
#7Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin. It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcemen…
I'd say you theory is pretty on-point, and I agree. Someone will probably profit from this, and it's an artificial fall of BitCoin value.
Re: Bitcoin falls below $300, lowest in 11 months
#8Maybe as the last big wave of people flocking to BTC figured out there's not a lot to do with it and lose interest?
Because we've got to have moved past the point where it's all currency enthusiasts, and if you're not enthusiastic about alt. currency in general, is there any reason yet to prefer it?
Re: Bitcoin falls below $300, lowest in 11 months
#9Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin. It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcemen…
That's not how PayPal's "bitcoin integration" works. All it is is a partnership with bitpay, where if you're a paypal digital merchant (doesn't sell physical things), and you also have a bitpay account, you can link them. So someone buys something from you, sends bitcoin to bitpay, bitpay sends actual money to paypal, paypal takes a cut, and gives it to you. Before you would just use your bitpay account to get actual…
I think the reasoning for a spike isn't anything to do with the actual details of the implementation. The spike in demand is caused by an existing legit payment company that is widely known and used saying: "We think Bitcoin is important and interesting enough to do something with.". This implicit endorsement draws in new buyers, gets more speculators buying, etc.
Re: Bitcoin falls below $300, lowest in 11 months
#10Last time Bitcoin fell significantly, BitPay announced three days later they were partnering with PayPal. BitPay has a lot of Bitcoins floating in their accounts (since they need to exchange USD BitCoin). They also could predict that announcing a partnership with PayPal would spike the price of BitCoin. It makes me wonder if some of these price drops could be market manipulation by insiders who have a big announcemen…
There's always insider manipulation, but people cannot prove it either way. It's like saying that there is insider manipulation behind every price dip and price rise on wallstreet. Maybe it's true. Maybe it's not. You cannot prove either way. So it's just noise.
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