Bitcoin Price Drops $500 in 5 minutes?
Look, I get it, Crypto is volatile. That's one of the exciting things about it. But it is also one of the many things I don't understand about it.
Bitcoin has but on the up trend for the week and yesterday it was pumping hard while steem was pumping. I figured there would be a pull back of some sort. The reason I say that I figured is simply because I've seen it over and over. I have no knowledge of fundamentals I'm just using my experience of steeming over the past 2.5 years.
I was a little surprised to see that btc did make it above $9000 today and at one point I saw $9200. Then, kablamo! It fell to $8600 in 5 minutes. It's not a big deal but I have no clue how something like that happens.
How does btc fall $500 in 5 minuts? Is the whole world sitting at there computers dumping btc at the same time? It just makes me wonder what's really going on. Is 1 person selling at ton and affects price? Are there bots making trades? Where massive sell orders waiting to dump $9200?
Can the smart people in the @steem.leo community let me know what happens during this huge price swings. I really want to learn this stuff.
I'm fairly certain based on the limited evidence that it was just one whale betting against the market. I think he's gonna get burned.
lol. It's crazy that 1 person can do that
Hi @cflclosers!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 3.601 which ranks you at #6277 across all Steem accounts.
Your rank has not changed in the last three days.
In our last Algorithmic Curation Round, consisting of 118 contributions, your post is ranked at #87.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Read about the halving. In may some people are expecting bitcoin go 50x. It will be crazy if that's the case.
I know. I'm really conflicted about it. I want to throw my liquid steem into btc but I'd to let that steem go. I don't think btc will 50x . I think it will get no more then $20k and then pull back.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
!BEER
Posted using Partiko Android
View or trade
BEER.Hey @tts, here is a little bit of
BEERfrom @tulwave for you. Enjoy it!Learn how to earn FREE BEER each day by staking.