Topic: Is Bitcoin really crashing (Read 335 times)

Now the condition is still not recovering because there is only a slight increase in the price and in general it is still at a cheap level. Hoping that conditions can continue to improve in the near future is not wrong, but to return investors' optimism to FTX I think it will take a little longer because investors can still use other exchanges if they want to invest as usual.

The quarrel of the two major exchanges at this time can indeed be resolved in the near future because it is a condition where each other wants to maintain itself to keep winning and in this case what will be very overwhelmed is FTX so that investors are reluctant to enter FTX again to invest.

The shock 3 days ago made a big panic, FTX which was a big exchanges disable for withdrawal so that it had a big impact on the market, but after many Top Cryptocurrencies including Justin Sun provided confirmation and support, slowly the market began to improve and I hope FTX can recover so that investors are increasingly optimistic for investment.

bears still dominate the market but it is very risky to take futures trading on the exchange because we know bitcoin is currently also very volatile,
a lot of it is liquidated because it is open short and long, yes if you are a pro trader please play there, but if a who don't understand about technical analysis,
I suggest staying away from futures trading and buying in the spot market only for the long term, then your funds will be safe there.

Market gets shocked too quickly, I never truly understood it and that didn't make any sense to me at all. I am not saying that it should not be volatile or just change and all that, sure it can do that but it doesn't mean that it should be like this and act too wild.

The best thing it could do right now would be being calm, all this already happened and moved, just be calm. The movement up wouldn't even be good, because if you become 23k today for example, that means the volatility is so high that the market would lose credibility. Just be patient and it will recover eventually and you will do better. Just a stable market for a while is what we need.

There fixed that for you.

This is exclusively an FTX-induced crash. People will keep talking about this moment long after it's over, but the market will forget about it very quickly once the news becomes the past.

Funny how CZ tweets that Binance will try to liquidate their FTT in a way that minimized market impact, and almost immediately after that, Bitcoin and other cryptos break several supports because of FTX's fuckery...

Btc price was spotted stably at $21k last time just before the negative news came about FTX, CZ/Binance and FTT and I think this had caused the price to go to $17k but earlier the price was still at $18k. It seems it is not stopping yet. Maybe newer lows are going to be recorded this time. With all of these, I am sorry but I can't agree with you when you say that we are still in bullish.

I didn't check out other coins price but I know, others price will only depend on the btc's actions. Btc is innocent here. It's only just a coin but the one that creates the price is we people. Well if we panic, that is isn't helping but it will only make the price to go down a lot. People should grow up and be calm instead.

Still surprised?
We've been here for years, definitely we saw lower market value of it. Sell if you must but hold if you can.

It is money we are talking about here, ofcourse there will be investors who would react if it is regarding their invested money. There's still more than a month for the market prices to somehow go up but I doubt this period would be enough for the market prices to fully recover. Let us just hope that its market value won't be at its lowest wherein Bitcoin, as the mother token, will be having a hard time to get a foot back.
Possible especially if the situation will continue or worse, to be worse. Patterns are still blurry at this point which is why there is somewhat of a commotion on investors' end whether to sell temporarily or to endure the pain of seeing how big your losses become.

It’s not possible for Bitcoins to fell upto this mark. Minimum it will go upto 16k, but not less than that. And currently this market manipulations are done by the big sharks for their own profits, so saying anything about the dip or bear is too early. We need to observe the market pattern before taking any major decision. But currently it will be best if we buy as many Bitcoins as we can, as once market grabs it’s pace, it won’t stop. So we need to act wisely.

at some point , it recovers a little this time https://coinmarketcap.com/currencies/bitcoin/ increasing at least 2% since morning and with this I believe that the bearishness  is over and the case  of that FTX will finally over , as this is truly a fast drop from 21k dumping to 16k just overnight.
hoping that before the 3rd week of November at least we will see some greening back as we expected this to happen late October to continue growing till the end of 2022.

Comparing to altcoins and ignoring ( stablecoins & OKB ) bitcoin have the same value as it was a week ago.
So, Bitcoin crashing at a level:

• Cash (the dollar and the rest of the major currencies) the ratio so far is 20%, which may be followed by a quick bounce.
• Some base tokens: They are few in number and cannot be considered a crash in price.

Re-bounce will happen

This is not crashing. It's just pure correction of what Bitcoin price should have been 2 months ago where during the summer the price stayed above 20k$. Now , with winter approaching , halv is far far away , it was time for Bitcoin and entire market to have it's long waited correction. Can it drop further ? I've said in so many posts of mine in Speculation , that Bitcoin will drop under 15k by the end of the year and it will keep dropping in price until autumn 2023. This was always my prediction and I'm sticking with it and so far I'm aware of what Bitcoin might do next.

There is always a shock that makes the market dim, 2 days ago I was optimistic that the price of Bitcoin could touch $ 22K, unfortunately after there was a locking withdrawal, it made things bad, investors were always sensitive to any issue so that they were easily panicked and made a significant market drop, today is a record lowest price since the last 2 years

Hope it is crash and we are going to see 10k ? then I will be very thankful as I wanted to see this happening again as I wanna buy more , at least half of bitcoin in 10k 


and that is not a Mini Pump instead it was being blocked by that FTX problem?

anyway , I still believe that in December there will be light for all bitcoin supporter , care nothing about Shitcoins.

The FTX issue clearly had an impact to the price of Bitcoin and altcoins due to FUD. As we can see the price of Bitcoin plunged to its lowest this year and many people are asking for the reason why it is falling.

This is not new in crypto ecosystem because everytime there's a bad news circulating, it does contributed to the movement of the market to drop. Thus, for investors who used to this kind of situation, it's something not to be worried about. While others are busy selling, wise investors are also busy accumulating. The prices are cheaper so don't miss the opportunity.

There is no other war, everything is so clear, FTX has locked the withdrawal and they are losing 8 billion. I guess the root cause is still SBF's fault when they have unclear financial statements and were the first to spread that story coindesk, Binance is just trying to protect its investment, as they also suffered heavy losses with Luna.

Another thing I'm thinking about that could be related to American politics, the SBF went public and supported the Biden administration in the midterm elections yesterday. While Elon and CZ joined hands to buy Twitter and Elon openly supported the Republican party before election day. It doesn't matter who wins, the biggest loser is still the market, investors like us.

If we zoom out the chart, seems the resistance of the 2017-2018 bull run is already broken now. But I believe, this monthly candle will still recover. Because either drop from below $20,000 is just a wick for higher time, else we will experience again in 2017-2018 when the $19,000 - $20,000 becomes resistance.
I am really hoping we will recover the $20,000 level, so current price now will be just a wick.

I was beginning to think I had missed the uptrend, left a buy too late to catch 'perfect'.    In the back of my mind, the ultimate test the trip for those confident in their step was an obvious plot device for the path of BTC.   Melodrama is a must in the crypto world I guess, its a reflection of hype we must have the plunge and hit the granite face first before we can witness the strength of who and what gets back up to take the climb further.   
   
   I presume we must now explore this full range, very roughly the price action in the teens not just the orbit near to 20k.    Its always a time for caution when the double sided light saber comes out the weapons cupboard with doji candles its a volatile sign for sure; perhaps church bells sounded from the local monastery should ring out to warn of an invasion of interest with irritating news articles on the perils of Bitcoin.



18k down to 12k there isnt much action (period end 2017 to 2020 market and breakup), bit of an air pocket and so potential weakness in this area.   Simply put its easier to traverse from one side of this area to the other then high traffic areas with lots of trades set down; here there is not much trading seen previously.  I presume we can move through all this area without even being that bearish, not much power is required so its 'icy'.

Its only a rough chart, I think theres plenty of time to draw it a hundred times in the dirt while we're here navigating the fog of news events, price will loop a few times imo.  Hopefully I'm incorrect and we return to 20k + by end of week, guessing not though.

Crypto crash, bear market - or whatever it is? It is just a normal scenario, in fact, we even have that worse experience a long time ago but guess what, the market was still able to recover because many are trusting Bitcoin and staying than those who leave and spread FUDs. As we are in the bear market, we expect more of a downfall and instead of worrying about the future, better make open our eyes and see the opportunity. Soon this will be over, the bull market will come next to this. And those who keep their faith in Bitcoin will be rewarded and those who rejected will regret it.

 I use the the news and previous performance to invest. Peoples predictions and candle charts don't mean anything to me. I laugh to myself when hopesters want a bull run off no data but they just "know".

I've said on here many times before we have allot of bad news to come including an exchange failure and more stock market carnage. Well we had the exchange failure.

We are going to loose some more ground for awhile and some leverages to pan out.

Good, failure is a win for those with money on the sidelines.

DCA is your friend

Bitcoin has fallen and is now around $17k there are many factors that are being discussed on this forum and on Twitter about FTX and Binance this problem continues until the market crashes completely, including FTX tokens fell 80% which CZ initially sold their holdings, on the other hand this may be FUD, a lot of worries occur, making many investors panic and they withdraw their assets for sale and some even say withdrawals in FTX are now more difficult than before.
This is really exciting news that many cases have occurred that make us see him panicking with the current situation.

We can't do much and can only see their war news at this time for me the opportunity to buy at a fairly large discount, I have prepared an allocation to buy dips for Bitcoin and will never glance at any altcoin including FTX and BNB.

Buy Bitcoin, Hold it, then go!!!

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.

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.

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.

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.

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/

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.

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.

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?

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.

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? 

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.

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.

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.



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.

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.

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

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

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.

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

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

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.