Is Bitcoin really crashing - page 2.

Kemarit

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Quote from: Amedon4dpeople on November 08, 2022, 04:09:59 PM

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

It's pretty obvious that we are still bullish, there are some minor run leading up to at least $21,000, but it is not sustainable though.

As for the recent lowest low, it's not Bitcoin's fault, it was drag along as to what happen to FTX and so many panic, sold their Bitcoin again because of the negative news. However, in this kind of situation, it's better to buy, as e are in the $17,600 range.

I do agree that there is nothing to worry, we have been in this kind of situation on the Terra Luna crash and we did bouce back although it take months, but still recovery is there for us.

pixie85

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Yes it's a crash, but don't worry about it.

Those who are selling are mostly doing it to escape from a dying exchange. They think that it's a Mt.Gox scenario where their money could be stuck for years while the legal battle takes place. It's all or nothing for them.

Always look at the fundamentals and bitcoin is as strong as it was a year ago. This situation reminds me of a covid crash in 2020 where people didn't really knew why they were selling.

Fara Chan

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Quote from: xSkylarx on November 08, 2022, 08:38:26 PM

This made me laugh, lol, and it is true that many newbies or rookies tell this if the bitcoin is in the red.I'm not sure what their reasoning is for saying it's crashing, but it's not going to happen.There are times of the year when bitcoin falls into the red and reaches a low price.This is due to the FTX and Binance issues, as well as the US midterm elections; let's wait until January next year if it continues to drop, and before we conclude, we should have hard proof that it is crashing.

Not everyone is able to understand the success rate of bitcoin investment, the proof is that there are still people who say bitcoin will crash. Although bitcoin's journey to date has spawned several ATH peaks, I don't even think there's any connection at all in the case of FTX and Binance. Right now it's true that bitcoin is experiencing a correction, but that doesn't mean it will return to the red price or crash as they say.

xSkylarx

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Quote from: jackg on November 08, 2022, 04:24:13 PM

One day in the red
Bitcoin is dead

Erm...

This made me laugh, lol, and it is true that many newbies or rookies tell this if the bitcoin is in the red.I'm not sure what their reasoning is for saying it's crashing, but it's not going to happen.There are times of the year when bitcoin falls into the red and reaches a low price.This is due to the FTX and Binance issues, as well as the US midterm elections; let's wait until January next year if it continues to drop, and before we conclude, we should have hard proof that it is crashing.

SquirrelJulietGarden

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It is not dead, not crashing.

You are in a very last months before a new bull run starts. The next halving will be sometime in April or May 2024 and bear market usually ends a few months before each halving. Market needs to be warmed up gradually after a winter season ends and before a new bull run's beginning.

Many times of death callings but Bitcoin is here, not dead.

https://buybitcoinworldwide.com/bitcoin-is-dead/
https://99bitcoins.com/bitcoin-obituaries/

Sarah Azhari

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Quote from: Amedon4dpeople on November 08, 2022, 04:09:59 PM

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

Seem like bitcoin is going to be dead, we have to save assets immediately and sold all bitcoin assets to cash money, I've very screaming when looking at the market, oh my god this is a big disaster, we have to call Elon musk.
Man, just look time by time, year by year, and all patterns in bitcoin, you will not worried because this is the time to buy after you can't buy more like past. are you remembered several month ago?, this is the same situation, if you bought now, maybe you will crop it on December.

Despairo

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Quote from: sheenshane on November 08, 2022, 06:57:24 PM

All of these are because of the centralized exchanges and the altcoins that hardly have an effect on Bitcoin.

There's no such altcoins have an effect on Bitcoin, altcoins always follow Bitcoin price, not Bitcoin follow altcoins price. There's many shitcoins already dead and dump, but Bitcoin will stand and wouldn't become dead coin, it has been proven for 13 years until now.

The reason is because most investors who leave their coins on FTX want to move their coins, but they can't since the fees is really high. This make short panic and people lose their confidence to FTX and they also scared if the other centralized exchange did same to them in the future.

This is why anyone should hold their coins on hardware wallet.

sheenshane

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The reason for the sudden dropped could be,

FTX and Binance news related
LUNA collapsed
FOMO
Lossing Investors Confidence

All of these are because of the centralized exchanges and the altcoins that hardly have an effect on Bitcoin.
But I think it's a normal crash and soon it will recover again. I didn't believe it will go down far beyond $15k.
Instead, it's an opportunity to fill your bag, isn't it?

ChiNgadOr

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It looks like Bitcoin is crashing but I think this will not take a longer time for the market to recover again. Bitcoin really crashed today and it looks like it is an opportunity for buyers to get some holdings from the market and keep buying tokens that they like this because the market will not remain like this forever.
We need to see beyond what we have now and take a look at the future because the market is not going to be like this forever. The same way the market was bullish some months again and now it is bearish for we to buy.

Bitcoin_Arena

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Quote from: Amedon4dpeople on November 08, 2022, 04:09:59 PM

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

Just a 10% price drop in the last 24 hours, and you are already making noise and panicking that Bitcoin is crashing?
What happens if it drops by 60% in a day? Won't you kill yourself? Grin

That being said, this is a normal day in terms of Bitcoin volatility. 10% in 24 hours is nothing. In fact, look at it as a blessing to buy coins at discount for future profits. $16K. $10K whatever, Bring it on, I will gladly accumulate what I can with a big smile.

n0ne

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The market that reached $21k+ two days back falling down to $18k is a minor price crash. This is being expected one as there is a drama going on. The price have reached a bottom close to $17k. Anyhow the recovery will happen reaching close around $20k. This is completely a bull trap, and now it's time to have patience. Only then it is possible to be successful as the drama between exchanges continues.

darkangel11

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Don't let others control your BTC -> self custody

It's not crashing due to the real value being lower than 20k, but because of lack of liquidity. One exchange had problems and people decided to bail, sell coins they had there and move out. They thought that if the exchange doesn't have their bitcoins maybe it's going to at least have fiat and stable coins. The exchanges are linked so liquidations on one usually lead to same liquidations by bots and leveraged traders on other exchanges.

Quote from: drwhobox on November 08, 2022, 04:21:37 PM

Let it go down to $14K. I have some plans. It's been a while I was away from the forum.

It's not going to 14k. Don't wait too long or you'll miss your window. Not a financial advice, but give it 6 months and you'll see that we're already scraping the bottom.

Accardo

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They is always a light at the end of the tunnel, after going bearish, bullish follows. The market has survived such situations in the past and bounced back, so FUD is not a thing. The FTX dispute is similar to the luna crash which brought bitcoin to 20k, today bitcoin is staggering around 18k. Bitcoin will not crash, I believe, below 15k like Arthur Hayes predicts in his recent tweet. Its a sharp moment to take the risk, investors may be waiting for bitcoin to plunge again. And they'll proceed to buy at a cheaper rate.

franky1

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last chance for cheap coins
even i might load up more (dont need to as i have a hoard)

might aswell use the ftx drama that caused a discount

Fivestar4everMVP

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The current crash in the price of bitcoin and the entire crypto market in general is nothing to be bothered about, Infact, to me, it's a good opportunity to Bag some bitcoin at a cheaper rate, as I think it will recover fast ones the dust settles, things are currently hot right now due to the current FTX and BINANCE bruhaha..

Yah all can see the reason why bitcoin is dumping here

tabas

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It's all because of the FTX and Binance drama and that's why the market has been moved, well, these two knows really how to play the market. Or it is that CZ really knows how to manipulate the market and go within on his favor.
Don't be surprised with such moves in the market that makes bitcoin decrease in a day and you think that it's all a crash. It's moving from that range and it's not an unusual thing that it goes back a few thousands after it has made $21k. Now, we just have to wait for it again to get back there and try to break $22k.

jackg

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https://bit.ly/387FXHi lightning theory

One day in the red
Bitcoin is dead

Erm...

It's made a nice pattern on the daily for people trading it, sadly it has a bearish bias (though we can go up from here and can't go much further below the wick we just made - without breaking out over the next few days). It also looks like something that could break upwards given time.

We've had 2 or 3 days of turmoil and no big flash crashes for major coins (from what I've seen) so I don't think we're doing too badly. If we were at a time when lots of dumb money was here, we'd have crashed hard a few days ago.

Next stop looks like it's either 16k or 20k, if we hit below 16k, the big money has won, we'll crash further and the exchanges/whales will be able to onload lots of crypto and sell their cash reserves - so it could go either way from here realistically.

Basic technical analysis says we could also hit 10k if we break out of here (I'd expect $14 to be the point people think we need a bounce though if it isn't anywhere from $14-16k).

I had an arrow that says we could go to $4k - I deleted that one though, it's unlikely but not impossible

drwhobox

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- hello doctor who box

Let it go down to $14K. I have some plans. It's been a while I was away from the forum.

Amedon4dpeople

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What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

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