Bitcoin price drops to 600 euro a night, what’s going on with the price? – Breaking News

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Last night it dropped the bitcoin rate by 9.237 € 8.612€. Everyone who’s been in a computer is familiar with the blows of the whip. But for all the newbies who have just started in the bitcoin have stepped into this part of the game. In this article, we will look at the possible causes, and declare that we are in the fall, on the basis of a technical analysis.
Before we get into the depth to explore three tips for new players:

Take deep breath and drink some chamomile tea.
The cryptomarkt, it is a relatively young and small. The volatility there is now a number.
At this stage of the market cycle looks like bitcoin is the tone for the rest of the market. Is falling bitcoin? Drop most of the altcoins with it.

Above you can see the share price movement since last night. The share price went up by 9.237 € 8.612€. If you would like to play around with the price chart and various statistics are are looking for. Be sure to Check out our koerspagina:

Check out the live price of BTC

Contents

144 million on the long positions have been liquidated

On BitMex, can you speculate on the price. You are betting on whether the price move down (to sell short) or a high (to go long in. You’re too far off the mark, then you have the short or the long position is liquidated and you will be your deposit will be lost. At BitMex to see that there were 144 million dollars worth of long positions have been liquidated have been.
The share price is falling, and this has a knock-on effect, as the exchange rate falls, there will be long positions will be closed, and that makes the price even more decreases, and this, in turn, there are more long positions are being closed, and this, in turn, the share price drops, etc.). This is a long squeeze, called. All of the long positions, like lemon squeezed out.

In the beginning

But, what is this made it the initial decrease? BitMex has been specially designed for private parties, but there is also a version for the big boys and institutional funds. This service is offered on the stock exchange in Chicago, and it is called the CME. Also, to connect your business to the short-or-long-to-go. These contracts are for a set period of time, and almost 50 percent of these contracts expire on the 30th of August. This is definitely a good sign of price volatility.
Analyst Dave Balter, said: “From our point of view, it seems like there are a lot of futures contracts are already settled, because this Friday’s past due.”
Jeff Dorman from the Ark to think that this is, indeed, the cause of this is but a hint to market manipulation by the whales: The volumes are very low and it takes very little to make the bitcoin market is on the up and down motion. Combine that with the fact that the large contracts were concluded at the end of the week expiration.
Dorman argues that there was not enough bullish sentiment in order for the bitcoin price to keep afloat.

A relatively high

Above you can see an analysis of the long-term, a well-respected analyst: PlanB. The tweeter looks particularly at the Relative Strength Index (RSI). This is a momentum indicator that is scaled between 0 and 100. RSI compares the closing price of a candle with the close price of the previous candle.
The RSI is up in the 80’s? Then, as you speak of an overbought momentum. The RSI is below 50? Then, talk to an oversold momentum. At this point, hovering between these two values. PlanB makes the comparison to 2016, and that turned out to be the starting point for bitcoin is to move up to an all-time high. In 2016, it will also say that the yellow dots a little dip to make.
But if you look only at this year’s RSI is not as low as on the 7th of February. But, PlanB is not a stock analyst for a short-term basis. In the long term, he remains positive.
That confirms it, he/she will be listed below once again:

What do you think? A reason to panic or to be a good time to be quiet, when to buy it?

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