Topic: Crypto dump is just getting started? (Read 608 times)

The only thing that I will say that make some people to view conscious of the market of cryptocurrency is because of the times whenever we are into the Irish market many people in cryptocurrency does not have the knowledge of holding the Bitcoin until when the market will recover so I believe that this have put so many people into a long run

After that LUNA incident, no one really had anticipated nor expected that things would become even more worst.No one had expected that FTX would really be ending up with that issue.
We've seen that the market did really made up some sideways movement after that LUNA situation and here comes another negative news which did really make out some effect in the
market and possibly might be going back into those 2018-2020 price which we didnt really expect for this thing to happen.Majority had been eyeing on breaking that $100k resistance but
it turns out that the market is really just too overbought. Corrections are normal but if its tied up with these kind of incidents then it is really something that could
bring out some panic.For newbies out there then they are the ones who are commonly been affected since they dont have that much experience then it is really just
normal on having these reactions.

It didn't actually start with FTX but with TERRA LUNA and has a domino effect. Now all the news sources are talking about possible bankruptcies, e.g. crypto.com or Genesis. It is logical to assume that investors are feeling panic and fear. And things are probably only going to get worse. Another bad sign is that the cryptocurrency market is falling in the face of a rising stock market.

You really pointed out the right place. Was it all planned or the brutality of the bear market? We can only argue about this. I think it was planned, but I can't prove it. That's why I mean the brutality of the bear market at best. We needed a bear market somewhere. In the bull market, meme tokens were not used everywhere, at the same time in projects with high earning. Assuming that the FTX exchange has a lot of other funding, this one looks longer. Because it creates a completely domino effect.

Honestly? I do not think that it changed my mind. Sure the price went down because of FTX but that's one thing, and I believe nothing about bitcoin itself has changed and I believe that we are going to end up seeing the price go up in the long run.

It means that we shouldn't really be worried about it at all, we should be checking how it will do in the long run and bitcoin will do just fine in the long run for sure, there won't be any problems at all. I know it takes a bit of time for us to recover, and the price won't suddenly be 100k or something, but I know that this fall and bear market is a short term thing and it will one day go back to its peak prices, we just need more time.

since 2017 I hear several people complaining about false volumes on exchanges, when binance bought coinmarketcap.com they changed the criteria for an exchange to be at the top so that with that only exchanges that do not have manipulated volume were at the top, this would discourage many exchanges not to put fake volume, I don't know if this worked or not, but as I don't use other exchanges ( I only use binance ) so I don't know how other exchanges behave, using these new exchanges is something very dangerous that people need be very careful


15500$ is acting as a very strong support, at least for now they are not breaking this support, but if the price keeps going down and constantly testing this support then this support will give way and the price will go down a lot due to the panic selling up to 10,000 $, and at 10,000$ also nothing guarantees that the price will not fall even lower than 10,000$, the last time I remember after falling to 10,000$ there were strong supports between 7000$ to 6000$, but these are scenarios that may not happens, the most important thing is that the price does not fall below 15500$ at this moment

And so I was ready already to hold and buy more if I have spare money. Yes, it is indeed the negative influence of FTX that has been spreading and continue to change the mindset of investors. Though I wasn't worried about the incoming dump, however, I was not also happy to see people get in a panic situation because of that issue. It is really disappointing to see big exchanges get into the problem for they will certainly give a huge market impact and causes panic selling. And I see this bear market will stay longer, might some coins will tried to pump, yet it was just short pump and it drops back again.

This week has already started with a fall due to the news you described. I also think that as soon as there is some clarity, the market will react with more negativity. But in addition to Genesis there are other rumours about different exchanges. In general I think the fall will continue. Although some coins such as LTC or XMR feel fine.

This week we’ll likely find out if Genesis is going to fail or if they’ll be able to raise a billion dollars and make their lenders whole. If they can’t, it’s another big loss for crypto users and the market price will likely reflect that. We may also get more news on GBTC and if they did something dumb with their coins and are now leaving investors high and dry. Volatility is likely incoming soon so strap on your seatbelts and stick to your plans.

Before the FTX case occurred in early November, I was optimistic that the price would skyrocket and touch $ 25k and then continued to rise, unfortunately there was a FTX case that made a big problem and now the opportunity to drop in the $ 15k range is very large, and I think Cut Loss is better and us See if the end of 2022 prices can survive in the current range or not.

It is just a utopian view to believe that any market is free of manipulation. In theory this bear market could have well been an orchestrated endeavor. But so could the whole downturn in the world have been one. Nobody can tell. In every crisis there are also winners, and these winners might or might not have known in advance what's going to happen next. That doesn't mean we should lead every event ad absurdum in terms of conspiracy theories, like the virus has been spread intentionally in order for the Pharma industry to earn outrageous profits. At the same time the opposite would also be stupid, to think that nothing is being manipulated.

What we see in crypto now does actually allow for substantial conclusions and that is rather not about manipulation in the sense that big companies have concerted this. It is more about a systemic problem that we have also seen in the banking industry (where there has also been collision) and that is leverage. Betting on rising Bitcoin prices and taking on irresponsible gambles, locking crypto assets for lending or staking that leads to funds being locked that customers may want to withdraw at some point and many many more things like that.

It is also just about amateurish, stupid behavior like that by SBF. Now that we look at it, look at that dude, how could the community even entrust that guy with tens of billions of dollars?

So is the dump just getting started? I presume it depends on how much junk there is in the leading companies' balance sheets that we don't know about + systemic risk due to trickle down effects. I guess the next weeks might discern some more important info for the global crypto community in general.

Manipulation and other related things is never been new on this market, even if we do speak out into those traditional markets on which there's no way on guessing out on when dump or increase of price
could really happen.We dont even know if the dump hasnt start yet or its already over which the market could able to get a good hold on crashing out.This is why as someone who do make out
involvement and engagement then it would really be that better to brace or make yourself prepared about these things to happen.Everything cant really be known
and this is why we do always make out speculations because this market is totally that random.

I feel like a good few years before we could go up a lot is because people usually rather see it move like that after the halving, and that’s usually the case for when the price goes up. If there is ever halving in crypto, if we look at the history you will see that it’s not that rare to see it go up after a year, it usually skyrockets and that’s really a common thing.

So, people are saying that if we are going to have a bull run like that in 2024-25 or so, then it would be weird if we see it right now as well. I mean a break out increase in price in 2023, and then 2024 and 2025? That is unlikely, which means that either it won't be after halving, or it will be, and many think it will be.

Why do you think it's too early in the bull run? I too think a real bull run will happen in a few years and that this is a nightmare time for cryptocurrency. But since you and I have similar thoughts, as do many on this forum, then we are more likely to be wrong. The market is more often than not irrational and moves in the opposite direction from the crowd's expectations. It could be that all the fud associated with FTX will disappear and then good times will happen.

Any scenario is possible, not just 10,000$ BTC. Of course, I'm talking about the negative scenario. In the current situation in the  crypto industry, only a market decline is foreseen. Even more. Moreover, it is still very early for the start of a bullish trend and troubles with FTX Exchange are pushing for the continuation of the bearish trend. This will last more than one week and more than one month. Perhaps, by the next halving, the situation will stabilize and a slow and small growth will begin. In the meantime, we are determined that everything will be bad for a long time, in terms of prices for sale btc and the general mood, but it is good for profitable purchases of BTC.

As bitterguy28 answered, there is no such thing as everyone winning, there will be winners and losers, money goes from one person's pocket to another, from weak hands to those with diamond hands. Those who are anxious, can't stand the rigors of the market, they don't deserve the reward, the reward should only be given to those who stay in the end, those who deserve it. The market really isn't so scary but most people can't wait because they just want to get rich quick.

There are two set of investors,

Those who are into the long haul of it, regardless of what the price is right now, they will do DCA and continue to accumulate and wait for the right time to sell and make a huge profit

And there are those who are into it for short term, so make a choice.

For me it's very easy in this crash or crypto dump, it's better to buy and accumulate and wait till the next bull run.

Investors are people who want to invest just because there is a chance of profit after investing even if they have to wait for a while. Now, in this case, investors who have already invested, of course, want to wait for the duration to pass, but for investors who haven't had the chance to invest this month, I think they will choose another place to invest, even if it's only for a while, while monitoring the market getting better.

Because they also don't want to waste time just because of certain conditions that are happening when there are other places that are more profitable to invest their money in. And if you have to wait, I think everyone will definitely want to wait for the sake of not losing because losing is something that everyone who works as an investor always avoids.

There might be some companies and individuals which might be holding lots of coins on to their stashes but doesnt mean that they could really be the ones who could make out huge or sure impact on the market.

Its true that lots had been also owning coins or totally been distributed although there are ones who do hold lots but wont really be that precise on telling that they have the full control.

Dumps causes out by fuds is not really something new, even on a market which doesnt really have any news or fundamentals could really still make that random movement
which is totally unpredictable.

If you do not trust bitcoin, that doesn't take away anything from bitcoin, but it does take away a lot from you in the long run, that's the thing they do not understand. If you know what you are doing, then you should be able to do it properly without a problem, but only if you know what you are doing.

People who let their emotions take control when they are trading or investing will not be able to profit no matter what. I personally do not let my emotions dictate anything, even if I am insanely scared, I see that as a good sign to buy instead of sell. Many people who know that long term holding is a great way to profit, could buy and then end up selling when the price goes down because they are scared.