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Lambosexual

What caused XRP to drop

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There are also indicators that various groups deliberately released false information while others were also dumping at a critical point in time which had the effect of reversing market sentiment.  Clumsy management of the Mt Gox fiasco also played into the turnaround.

I don’t have details but I do recall various false articles which severely frightened the market about China, Korea, India etc.

I am not inclined to conspiracy beliefs but I think there certainly are reasons to believe the turnaround was possibly orchestrated.  Another aspect of this is that it was a speculative rise given the lack of real world usage and therefore subject to an inevitable correction at some point.  Whether that correction was helped and increased by orchestrating groups is debatable.

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1 hour ago, Misamisa said:

It was a pump and dump simple.

You make it sound so straight forward...  the world is rarely that black and white.  (I noticed in another thread you made a similar hard and fast statement without support and was asked to elaborate but did not reply as yet.)

Perhaps you are right, but it’s unlikely that simple I think.

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On 11/4/2019 at 3:52 PM, Tinyaccount said:

You make it sound so straight forward...  the world is rarely that black and white.  (I noticed in another thread you made a similar hard and fast statement without support and was asked to elaborate but did not reply as yet.)

Perhaps you are right, but it’s unlikely that simple I think.

In short it really is that simple. 

People who have the capability to influence price make or sell their investment, fish follow creating a huge momentum. This goes with both buy and sell.

pNd. It's what the market is until it isn't and that's who knows when.

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At this moment it is the situation in Hong Kong holding back the rise of the total crypto markets.

Miners in China have difficulties to sell their bitcoin via Hong Kong and are forced to use other ways to sell at a lower price to pay for their electricity bills.

Until the shit is over in Hong Kong we will see a drop in price for the overall market.

The halving of Bitcoin in may 2020 will change that if the unrest is still happening in Hong Kong.

If you favor your money, don't support those terrorists in Hong Kong.

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18 minutes ago, baobeiiiii said:

^ reported above comment. 

What is wrong with the above comment.

You don't watch the news?

Since the unrest in Hong Kong the whole crypto markets took a nose dive, every time when there is positive news that the unrest will be over, the market recovers.

Today it will take another nose dive, because the unrest keep getting worst.

You are one of those terrorists?

Edited by 10millionplus

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7 minutes ago, 10millionplus said:

What is wrong with the above comment.

You don't watch the news?

Since the unrest in Hong Kong the whole crypto markets took a nose dive, every time when there is positive news that the unrest will be over, the market recovers.

Today it will take another nose dive, because the unrest keep getting worst.

You are one of those terrorists?

Because your post is inflammatory and political. None of that belongs here. It doesn't matter whether I agree with you or not, it doesn't belong here.

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19 minutes ago, 10millionplus said:

What is wrong with the above comment.

You don't watch the news?

Since the unrest in Hong Kong the whole crypto markets took a nose dive, every time when there is positive news that the unrest will be over, the market recovers.

Today it will take another nose dive, because the unrest keep getting worst.

You are one of those terrorists?

say no to drugs , just hugs ok , you obliviously can't handle them

this market is 100 % speculation  

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Most miners in China have difficulties with paying their electricity bill these few months.

You are allowed to transfer 300000 Renmenbi or about 50000 US dollar per person per year in or out the country using a Chinese bank account.

This is not enough to cover the electricity bill for most of the miners if they can't access banks in Hong Kong.

I myself don't have that problem.

I am a Dutch citizen mining bitcoin since march 2010 and I relocate to China in august 2013, because I am tired off paying import taxes on the miners and the electricity bills in The Netherlands.

I myself don't have the problems with the 300000 Renmenbi limit per person per year.

I am using Dutch bank cards to avoid the limit.

I set all those bank cards to a maximum withdrawal of 10000 Euro a day, I use ATM's to withdraw Renmenbi and then put them straight into my Chinese bank accounts to pay for the electricity bill.

I sold 10 bitcoin last week for a fair price to pay for this month electricity bill, not every miners have that advantage.

I also hold XRP and I like those to gain in value as well, but for the moment the sad news is, It won't go up until the miners can easily sell coins for a better price.

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