Is there any good explanation to this dip

Baki202

full member

Activity: 280

Merit: 172

Quote from: wtsimis on January 29, 2024, 12:48:23 PM

The value of any asset skyrockets when it attracts a large number of investors and large whales. Since cryptocurrencies are highly volatile as digital assets, Bitcoin is no exception. The arrival of large whales has boosted the value of Bitcoin, which can suddenly cause the market price to drop significantly after the whales sell. It can be a factor in normal erection. Since its price cannot be controlled, you should buy as slowly as possible so that your purchase price can come down significantly.
You can definitely consider investing in Bitcoin after going dip. Because devaluation is a natural way to adjust the value of Bitcoin.

I feel like there is a lot of manipulation in that market and they will always manipulate it to there own favor. And since the whales hold a larger share of bitcoin they will always look for means to crash the market to too be able to buy more. And if the price should go up and the volume of selling is higher than that of the buying then it will affect the entire market and whales don't care much since they are element of manipulation to the market. And with the situation of the price coming down will also help other buy. So when ever the price is down its beneficial to a lot of people. And after the dip then people will start to plan against there investments so the way you run it clear depends on you.

Zanab247

full member

Activity: 1176

Merit: 118

★Bitvest.io★ Play Plinko or Invest!

Quote from: Ricardo11

If the market price of Bitcoin dips further, understand that this is another buying opportunity. Don't panic if the market dip. We always have to believe that after a market dip, it will pump again later. This always happens, when the market dips, it pumps up more. So don't panic and don't stop your holding in any way.

Whenever you see bear run in the market, you don't need to wait for people to tell you what to do at the moment when you have the money with you, which is the best period to buy BTC from the market and hodl for a brighter future to come.

And bear season will continue happening in the crypto market and, whenever you see bull run and bear run in the market, learn how to take advantage of them to do the right thing that will bring good results that will make people to believe in your strategies in the community.

wtsimis

full member

Activity: 326

Merit: 135

The value of any asset skyrockets when it attracts a large number of investors and large whales. Since cryptocurrencies are highly volatile as digital assets, Bitcoin is no exception. The arrival of large whales has boosted the value of Bitcoin, which can suddenly cause the market price to drop significantly after the whales sell. It can be a factor in normal erection. Since its price cannot be controlled, you should buy as slowly as possible so that your purchase price can come down significantly.
You can definitely consider investing in Bitcoin after going dip. Because devaluation is a natural way to adjust the value of Bitcoin.

Casdinyard

hero member

Activity: 1988

Merit: 875

Leading Crypto Sports Betting and Casino Platform

Quote from: bobbybkk on January 23, 2024, 07:53:23 AM

Stuff like this sorts the men from the boys.

Expectation was built up in regards to this ETF decision and the price went up.

The decision was positive, so time for the men to take profits as all looks good.

Now just wait until all the boys panic and sell and then see where it bottoms out.

Then the men start buying again.....

Bro calm down, OP's pretty much just asking what could be the reason why it's dumped like that much over the past few days which is a valid question to inquire whether you're a "boy" as you put it or a "man".

Quote from: YUriy1991 on January 24, 2024, 10:36:05 AM

It seems that the answer has also been given by @Oshosondy and that is the basic cause so that the price pressure is very consecutive, similar to the FTX pattern during the crash some time ago if you look at it.

If you trade, of course you will be a bit surprised to see conditions like yesterday, the more you buy, the more the price goes down to the point that you have to sell below the price you bought previously to get the lowest price again. Of course, it really drains your energy and makes you feel dizzy if you control the price.

Exactly, just cause bitcoin marinated on the 42k price point for too long doesn't make it any more immune against the tides of the market as the rest of the cryptocurrency market. It's pretty much still liable to follow market mechanics and its behavior regardless of its standing in the echelons. People's misconception against bitcoin makes them think it was this end all be all jesus of the crypto and financial world that they could use to maximize their earning potential with little to no risk involved. The reality couldn't be any farther from the truth. I reckon most people here who stuck until now have lost just as much money on the crypto industry as the biggest winners, if not more.

Understand that things like this are a regular wednesday thing for bitcoin and it would recover just as much as it would lose eventually.

Ricardo11

member

Activity: 312

Merit: 18

#SWGT PRE-SALE IS LIVE

If the market price of Bitcoin dips further, understand that this is another buying opportunity. Don't panic if the market dip. We always have to believe that after a market dip, it will pump again later. This always happens, when the market dips, it pumps up more. So don't panic and don't stop your holding in any way.

mrust_mobile

member

Activity: 108

Merit: 59

The Alliance of Bitcointalk Translators - ENG > TR

Quote from: Oshosondy on January 23, 2024, 07:36:34 AM

I read that FTX liquidated $1 billion worth of GBTC has been the main reason for the price of bitcoin that fall.

Quote from: Perfectbaby on January 23, 2024, 07:26:42 AM

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January

Bitcoin spot ETF was approved on 10th January 2024. Bitcoin got to $49000 on the 11th of January 2024. The fall did not started in December of last year.

That’s the right answer, almost. Yes the price dropped because of the GBTC liquidation but people didn’t make this decision without a reason.

The thing is, GBTC shares were nearly 10% cheaper than the market prices. That means whoever sold their shares recently, have seen a ~10% jump in their GBTC net worth right after the ETF approval.

GBTC used to have its own independent pricing and now it is connected to the other ETF’s, they can’t manipulate the prices no more.

YUriy1991

full member

Activity: 882

Merit: 215

#SWGT PRE-SALE IS LIVE

It seems that the answer has also been given by @Oshosondy and that is the basic cause so that the price pressure is very consecutive, similar to the FTX pattern during the crash some time ago if you look at it.

If you trade, of course you will be a bit surprised to see conditions like yesterday, the more you buy, the more the price goes down to the point that you have to sell below the price you bought previously to get the lowest price again. Of course, it really drains your energy and makes you feel dizzy if you control the price.

legendbtc

hero member

Activity: 1092

Merit: 502

Leading Crypto Sports Betting & Casino Platform

Quote from: Blitzboy on January 24, 2024, 10:13:01 AM

You see, everyone wants to find a reason for why things happen. However, determining the cause of every dip is like chasing shadows. A pointless exercise that detracts from the bigger picture.

But why do we spend so much time looking for reasons why bitcoin increases or decreases when we can't change anything? In the financial market, increases and decreases are very normal, why are people always surprised when fluctuations occur? I don't understand why people are always running around trying to figure out why bitcoin is dropping in price. Instead, why don't we take advantage of buying DIP because it will probably recover very quickly and we will lose the opportunity to buy cheap?

Blitzboy

hero member

Activity: 1204

Merit: 555

Leading Crypto Sports Betting & Casino Platform

You see, everyone wants to find a reason for why things happen. However, determining the cause of every dip is like chasing shadows. A pointless exercise that detracts from the bigger picture.

News can be useful or harmful. It affects investors' emotions and causes rash decisions. People hear something, panic, and sell-offs start. However, these reactions are usually transitory. Bitcoin's fundamentals remain unchanged. The first cryptocurrency has a strong network and rapid usage. Innovation and utility persist despite price fluctuations.

Look beyond the immediate troughs and peaks. I think Bitcoin is more than an asset - its a symbol of human inventiveness and decentralization. The road is bumpy and the dips scary. Remember that every dip has led to fresh growth and awareness. Bitcoin investing requires confidence and perseverance. A dip? Just part of the adventure, allowing opportunity to learn and strengthen our convictions.

fuguebtc

hero member

Activity: 1736

Merit: 520

Leading Crypto Sports Betting & Casino Platform

Quote from: Perfectbaby on January 23, 2024, 07:26:42 AM

-.-
please any thing the cause of the dip as we know it's based on news.

There is some news that ETFs are selling bitcoin but I really don't care and I even hope they should sell all their bitcoin. And those who are panicking should also sell their bitcoins if they do not believe in bitcoin's recovery and price increase. For me, I see this as a good opportunity to accumulate more bitcoin for myself since I still have more than 30% USDT left in my wallet. I even hope that after the halving bitcoin will be able to drop to $25k again, although this is really unlikely, the more people expect bitcoin to rise sharply, the more I believe bitcoin will fall. Bitcoin always goes against the crowd's trend Grin

.

bettercrypto

sr. member

Activity: 1316

Merit: 268

★Bitvest.io★ Play Plinko or Invest!

Quote from: Perfectbaby on January 23, 2024, 07:26:42 AM

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

The dropping of Bitcoin's price value in today's market is seen as an organic happening in selling and buying; I don't see any manipulation happening in the market today in terms of monitoring Bitcoin's price chart.

He is not like other cryptos in that when there is a fall in value, what happens in the market is not organic or natural. The majority of those who sold were traders who were not whalers, because the whale investors, from what I see, are just waiting for what is happening now and are just waiting to buy bitcoin, whereas the other whale investor institutions have already bought bitcoins and holdings.

Lanatsa

hero member

Activity: 2786

Merit: 646

Quote from: EluguHcman on January 24, 2024, 05:41:42 AM

It is so pathetic patiently hodling a specific amount of Bitcoin for a period of time with an expectation to catch up with the ETF, accumulating so attractively in other to sell your coins in a huge appreciatable amount at the maximum extensive value rate in the Bitcoin markets, but reverse be the case while timing and aiming on the ETF approval, the markets value goes depressingly backwards.

Personally, I think the speculations in Bitcoin hodling and its investors rumours is playing unexpected underground entails technically affecting the ETF in the Bitcoin market.

However, Bitcoin is a volatility digital currency that its economical values is not determinable.

Lots of people/traders/investors did really have those high hopes of that ETF approval on which it could really make the price would really be going up high but the market did make out the opposite directly. This is why it would really be that best that you should really be that having those back up plans if ever your initial analysis had failed out. There are people who are really that mindful when it comes directly on making
profits or making money and this is why they would really be that optimistic when it comes into their positions without having those kind of considerations when it comes to adjustments.

When it comes to dip when this is always been that part of the market on which it is really just that right that you should really be that making adjustments.Instead
on making yourself that being too confident with your position, it would be always that having plan B's or even C's and so on.
Make yourself that versatile then you should really be just that fine.

Lucius

legendary

Activity: 3220

Merit: 5630

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: Oshosondy on January 23, 2024, 07:36:34 AM

I read that FTX liquidated $1 billion worth of GBTC has been the main reason for the price of bitcoin that fall.
~snip~

I read that so far Grayscale has sold almost 80 000 BTC worth as much as $3.27 billion, and the bad news is that they have more than 535 000 BTC. Regardless of the fact that some other funds may be buying a certain amount of BTC, I think that the supply is still significantly higher than the demand and that is why we are at -20% compared to the price that was ten days ago.

The only question is when Grayscale will stop selling, and as far as I can see, there are no indications that this will happen soon.

EluguHcman

full member

Activity: 308

Merit: 143

It is so pathetic patiently hodling a specific amount of Bitcoin for a period of time with an expectation to catch up with the ETF, accumulating so attractively in other to sell your coins in a huge appreciatable amount at the maximum extensive value rate in the Bitcoin markets, but reverse be the case while timing and aiming on the ETF approval, the markets value goes depressingly backwards.

Personally, I think the speculations in Bitcoin hodling and its investors rumours is playing unexpected underground entails technically affecting the ETF in the Bitcoin market.

However, Bitcoin is a volatility digital currency that its economical values is not determinable.

JayTrain

full member

Activity: 1092

Merit: 105

Sugars.zone | DatingFi - Earn for Posting

It's indeed disheartening to witness this downturn, and many, myself included, are searching for reasons behind it. It might be linked to various factors, perhaps undisclosed news. I'm inclined to think of it as an extended correction, hoping for a rebound. Surprisingly, even the approval of the BTC ETF didn't yield the expected results. Nevertheless, it's crucial not to succumb to panic, exercise patience, and anticipate a market recovery.

avikz

legendary

Activity: 3024

Merit: 1496

Quote from: Perfectbaby on January 23, 2024, 07:26:42 AM

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

Yes, BlackRock is buying bitcoin at lower price so that they can move to the top of the list of corporates holding most numbers of Bitcoin. People at blackrocks top management suddenly decided about it and they are using their influence to manipulate the Bitcoin market to lower the price. Otherwise tell me how on earth, Bitcoins price is decreasing after the approval of long-awaited ETF. I don't see any other apparent reason.

Samlucky O

full member

Activity: 238

Merit: 161

The great city of God 🔥

Quote from: Perfectbaby on January 23, 2024, 07:26:42 AM

Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

No matter how the dip is, it can not go back to as low as $30k although cryptocurrency can not be predicted %100 but I believe it would not fall below $30. I don't really know why people do complain about Bitcoin dip. Dip is a normal language in cryptocurrency which means cryptocurrency is an ups and down market just like inflation makes price of fiat to change. False Rumour is also a great influence to market decline. Because when people start speculating on something which seem untrue, some investors become skeptic, because they don want to loos fund. As dey pull down their investment the market, the market receives a decline and many other factors. But it's just time to buy in bulk because now is the time for accumulate more.

Minor Miner

legendary

Activity: 2268

Merit: 1011

Be A Digital Miner

Quote from: Questat on January 24, 2024, 12:05:29 AM

We never thought of experiencing the current situation as we think that ETF approval would increase demand yet, volatility seems to be more influential and it cuts the hype turning low again. Should we have to panic? No, instead buy more and get ready for the halving impact. I even see halving could drive more pumps than ETF approval.

We just calm down, the volatility of the market is real. It pumps for some reason unknowingly, the same thing happens when it dumps. But if we can hold, nothing we lose.

The approval of ETFs will definitely increase the demand for bitcoin but you cannot expect it to happen immediately and massively, everything takes time. Regarding bitcoin being dumped when the ETF was approved, some people also made that prediction and gave everyone warnings, but most stubbornly did not believe it and expected the price to increase even more strongly. Therefore, most were disappointed when bitcoin did not increase in price as they expected, while those who believed in "buy rumors, sell news" were very satisfied with their decision.

But you're right, the market goes up or down sometimes for no reason at all and that's nothing to be afraid of. As long as we don't sell when the market dumps, we don't lose anything.

Questat

hero member

Activity: 2800

Merit: 603

We never thought of experiencing the current situation as we think that ETF approval would increase demand yet, volatility seems to be more influential and it cuts the hype turning low again. Should we have to panic? No, instead buy more and get ready for the halving impact. I even see halving could drive more pumps than ETF approval.

We just calm down, the volatility of the market is real. It pumps for some reason unknowingly, the same thing happens when it dumps. But if we can hold, nothing we lose.

tread93

hero member

Activity: 1077

Merit: 534

Quote from: SquirrelJulietGarden on January 23, 2024, 10:02:03 AM

Quote from: Perfectbaby on January 23, 2024, 07:26:42 AM

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January

An easy and good explanation is "Buy the rumor, sell the news".

Rumor is Bitcoin Spot ETF applications will be approved.
News is SEC. approved 11 Bitcoin Spot ETFs.

If the market works like the advice, price must drop and it is what Bitcoin market actually goes latest days.

Another explanation is even without news about Bitcoin Spot ETFs, you can see Bitcoin already have four green months from September to December 2023.
https://cryptorank.io/price/bitcoin

If anyone think it is not enough for corrections, I don't have anything to argue.

A 10% or 20% correction is not too big if you see Bitcoin history.

This is a nice visual aide you have here, I can only imagine the negative decline caused by the FTX crash as this chart isn't completely up to date but it does a nice job hitting all the major bear markets and notating their falls. We can only hope that this is just a healthy correction and I think that it is, hopefully we will see BTC make a huge jump towards upward momentum before and after the halving.

Topic: Is there any good explanation to this dip (Read 350 times)