Reason for the dump in Bitcoin and most of the Altcoin?

carlfebz2

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Quote from: ultrloa on December 21, 2021, 11:37:23 AM

Quote from: Ngemmeng on December 21, 2021, 10:28:56 AM

Quote from: bengsabeng on December 20, 2021, 09:48:10 AM

I think market conditions have nothing to do with holidays or any religious celebrations because holidays or religious celebrations are not news that can affect the market. towards the end of 2017 the bitcoin price entered a bullish phase and in 2021 the bullish phase occurred twice, namely at the beginning of the year and in the middle of the year. In other words it can be said that market conditions have nothing to do with religious holidays.

Christmas and New Year's holidays are long holidays at the end of the year, most people want to go on vacation with family. and of course this long holiday would cost a lot of money and require someone to sell a small part of their crypto assets. This reason is actually quite reasonable because I myself often sell a small part of my crypto assets to go have fun and vacation with my family.

It has been proven already before that during the holiday season bitcoin price tend to decline due to people selling some of their assets. Whether it's a bull run or bear run it always tend to decline somehow but I think this year might be different if people want to hold a little longer before selling they might want to do that. The price gap in the past is different than today so people might regret if they would just sell most of their assets so I assume most of them would sell some just for the holiday.

Holiday season or not then it wouldnt matter because sell offs could really happen anytime which there's no specific time on when it would happen neither on holidays or into those ordinary days of the year.

This is why you should really be that mindful about those correlations because it would be totally in random basis on why it do happens and this is what makes more harder to make some move

because everything turns out to be speculative and wont really be known on what would be the next movement of prices.

justdimin

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Quote from: Vaskiy on December 20, 2021, 06:51:12 PM

It is unfair to indicate the new mutant of covid as the reason for the market crash. Months back during the peak spread of COVID-19 cryptocurrency market was that progressive. By the time world markets were facing its hard times. So, the inflow of money have decreased due to several reasons.

Almost every December we'll be experiencing similar market scenario, and maybe something from an influencer could manipulate the market. If not I'm sure to experience slow and stabilized move for some time period.

I would say that covid is not unrelated at all, I agree that it is not the only reason but it is also not irrelevant to the drop neither. I know that 2017 was the year we had a peak in December but also there is a good fact that most of the time price gets lower whenever we get closer to holidays as well because people end up selling their crypto profits to have a good holiday period.

This in return means that we are getting closer to "bonus" payment period as well, not everyone gets bonus payments on 1st of January but there are plenty of jobs like brokers in wall street or affiliate marketing or any kinds of sales workers who get bonus depending on how well they did that year, all of that money usually goes back into investing and some of that reaches to bitcoin as well. That's where we could make all of these losses back very soon.

ultrloa

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Quote from: Ngemmeng on December 21, 2021, 10:28:56 AM

Quote from: bengsabeng on December 20, 2021, 09:48:10 AM

I think market conditions have nothing to do with holidays or any religious celebrations because holidays or religious celebrations are not news that can affect the market. towards the end of 2017 the bitcoin price entered a bullish phase and in 2021 the bullish phase occurred twice, namely at the beginning of the year and in the middle of the year. In other words it can be said that market conditions have nothing to do with religious holidays.

Christmas and New Year's holidays are long holidays at the end of the year, most people want to go on vacation with family. and of course this long holiday would cost a lot of money and require someone to sell a small part of their crypto assets. This reason is actually quite reasonable because I myself often sell a small part of my crypto assets to go have fun and vacation with my family.

It has been proven already before that during the holiday season bitcoin price tend to decline due to people selling some of their assets. Whether it's a bull run or bear run it always tend to decline somehow but I think this year might be different if people want to hold a little longer before selling they might want to do that. The price gap in the past is different than today so people might regret if they would just sell most of their assets so I assume most of them would sell some just for the holiday.

Ngemmeng

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Quote from: bengsabeng on December 20, 2021, 09:48:10 AM

I think market conditions have nothing to do with holidays or any religious celebrations because holidays or religious celebrations are not news that can affect the market. towards the end of 2017 the bitcoin price entered a bullish phase and in 2021 the bullish phase occurred twice, namely at the beginning of the year and in the middle of the year. In other words it can be said that market conditions have nothing to do with religious holidays.

Christmas and New Year's holidays are long holidays at the end of the year, most people want to go on vacation with family. and of course this long holiday would cost a lot of money and require someone to sell a small part of their crypto assets. This reason is actually quite reasonable because I myself often sell a small part of my crypto assets to go have fun and vacation with my family.

mia_houston

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Quote from: Slow death on December 20, 2021, 04:29:21 PM

I had already commented about it some time ago, in October people were buying a lot of bitcoin because of a possible approval of a physical-backed Bitcoin ETF (not this bitcoin ETF future ) but after 1 month the SEC showed that it will not approve a physical-backed Bitcoin ETF anytime soon and the market reacted with this drop and then came this new variant of covid that is forcing governments to come back with restrictions, all of which caused the price of bitcoin to drop a lot in recent weeks

I think, apart from the lack of clarity about the decisions that are being taken against the current bitcoin ETF, of course, some of the negative sentiments that affect the current movement of Bitcoin are still related to regulations and laws in several countries such as what happened in China, besides the emergence of variants the new virus gave a panic effect to investors and it further exacerbated market conditions.
Oh, I heard that there was a delay in the legality of the exchange traded fund (ETF) instrument against Bitcoin by the SEC and it was reported that there might be a new decision to coincide with Christmas later.

Vaskiy

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Quote from: Slow death on December 20, 2021, 04:29:21 PM

I had already commented about it some time ago, in October people were buying a lot of bitcoin because of a possible approval of a physical-backed Bitcoin ETF (not this bitcoin ETF future ) but after 1 month the SEC showed that it will not approve a physical-backed Bitcoin ETF anytime soon and the market reacted with this drop and then came this new variant of covid that is forcing governments to come back with restrictions, all of which caused the price of bitcoin to drop a lot in recent weeks

It is unfair to indicate the new mutant of covid as the reason for the market crash. Months back during the peak spread of COVID-19 cryptocurrency market was that progressive. By the time world markets were facing its hard times. So, the inflow of money have decreased due to several reasons.

Almost every December we'll be experiencing similar market scenario, and maybe something from an influencer could manipulate the market. If not I'm sure to experience slow and stabilized move for some time period.

Slow death

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I had already commented about it some time ago, in October people were buying a lot of bitcoin because of a possible approval of a physical-backed Bitcoin ETF (not this bitcoin ETF future ) but after 1 month the SEC showed that it will not approve a physical-backed Bitcoin ETF anytime soon and the market reacted with this drop and then came this new variant of covid that is forcing governments to come back with restrictions, all of which caused the price of bitcoin to drop a lot in recent weeks

Fredomago

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Quote from: sana54210 on December 20, 2021, 01:53:22 PM

Quote from: Wysi on December 03, 2021, 05:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

I have to say I am quite happy with them so far. I have been staking some defi projects, they are sort of like "proof of stake" coins but a bit different as well, and they have been amazing. The difference is that, you do not do the staking yourself, you put the money in a pool somewhere and it does it for you. Maybe I am happy because I got in at the right time, I did it for Cake when it was just 2 dollars, so with the money I made from the staking returns plus the returns from the increase Cake had, I profited a lot.

Hopefully everyone would be able to say the same thing with the right time, but if you do not then there is two possibilities; either staked coin dropped in value, or you got scammed. Those are still possible outcomes and as long as you do not get either of those then you will probably make some profit from staking and I am confident that stuff like UNI and Cake will be fine in long term.

Taking the kind of risk is profitable if you place your investment with the right coin to invest, like you, there are other investors who make a decent amount of profits by doing the same, staking with good asset will generate a good amount of profits, while in the other side if you failed to do your homework and invest with hype asset, even you stake the amount of losses still going to hurt your initial capital.

Always find time to work with your understanding. The good one will lead you to find success from this industry.

sana54210

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Quote from: Wysi on December 03, 2021, 05:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

I have to say I am quite happy with them so far. I have been staking some defi projects, they are sort of like "proof of stake" coins but a bit different as well, and they have been amazing. The difference is that, you do not do the staking yourself, you put the money in a pool somewhere and it does it for you. Maybe I am happy because I got in at the right time, I did it for Cake when it was just 2 dollars, so with the money I made from the staking returns plus the returns from the increase Cake had, I profited a lot.

Hopefully everyone would be able to say the same thing with the right time, but if you do not then there is two possibilities; either staked coin dropped in value, or you got scammed. Those are still possible outcomes and as long as you do not get either of those then you will probably make some profit from staking and I am confident that stuff like UNI and Cake will be fine in long term.

poldanmig

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Quote from: RavenTimmy on December 20, 2021, 01:02:09 AM

I think this decline is because of the spreading of the new Omicron strain of the Covid-19 virus. I do not find any reason to panic as crypto has seen worse conditions than this. I am expecting a bullish movement in the coming New Year.

The current bitcoin price correction is actually still a natural thing, the correction that occurs is part of the market that we can't avoid, but even so, we can still take advantage of the current bearish phase by buying at a low price or buying the dip, I also think if Currently the Omicron variant is causing fear for the whales if maybe later the virus variant could greatly affect economic activity globally, just like when the corona virus first appeared and if I'm not mistaken, market conditions also deteriorated.

bengsabeng

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Quote from: sarmrakib on December 20, 2021, 08:42:16 AM

Quote from: ranaprime on December 18, 2021, 02:20:25 AM

There are lots of fake news are surrounding the crypto market. I know that whenever the market goes up a lot, some news comes and throws it down again. Whatever the news, it has become normal. Now that the current market down trending, I hope it will regain shortly. If bitcoin price down then altcoins also be in down trending this is as usual fact.

We all know that its a easy thing when btc goes down ,Altcoin follow the trend .We are really on bearish momentum and it is going more down .The price is around 46k$ and surviving here with the price .However we all know that a big news always make and impact on the market and i didn't get any FUD yet ,which i got was minor .Its a common thing that we always face the bearish momentum at the end of a year ,which has few reason .Which are people make cash for spend it on XMAS and after that new year occasion .These few reason makes it to goes down fall .We are very much hoping that it will start recover after new year occasion end and we can see a positive trend if there is nothing happen abnormally .

I think market conditions have nothing to do with holidays or any religious celebrations because holidays or religious celebrations are not news that can affect the market. towards the end of 2017 the bitcoin price entered a bullish phase and in 2021 the bullish phase occurred twice, namely at the beginning of the year and in the middle of the year. In other words it can be said that market conditions have nothing to do with religious holidays.

sarmrakib

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Quote from: ranaprime on December 18, 2021, 02:20:25 AM

There are lots of fake news are surrounding the crypto market. I know that whenever the market goes up a lot, some news comes and throws it down again. Whatever the news, it has become normal. Now that the current market down trending, I hope it will regain shortly. If bitcoin price down then altcoins also be in down trending this is as usual fact.

We all know that its a easy thing when btc goes down ,Altcoin follow the trend .We are really on bearish momentum and it is going more down .The price is around 46k$ and surviving here with the price .However we all know that a big news always make and impact on the market and i didn't get any FUD yet ,which i got was minor .Its a common thing that we always face the bearish momentum at the end of a year ,which has few reason .Which are people make cash for spend it on XMAS and after that new year occasion .These few reason makes it to goes down fall .We are very much hoping that it will start recover after new year occasion end and we can see a positive trend if there is nothing happen abnormally .

RavenTimmy

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I think this decline is because of the spreading of the new Omicron strain of the Covid-19 virus. I do not find any reason to panic as crypto has seen worse conditions than this. I am expecting a bullish movement in the coming New Year.

marine4u

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Lots of spoofing and on the day that Evergrande declared bankruptcy for debt, it set up a pair of shorts on bitfinex with a big chunk. I think it happened again. It wasn't Omicron but the Chinese financial group that did it I guess. It broke through the support for that flood. that's the damn thing, lol

ranaprime

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There are lots of fake news are surrounding the crypto market. I know that whenever the market goes up a lot, some news comes and throws it down again. Whatever the news, it has become normal. Now that the current market down trending, I hope it will regain shortly. If bitcoin price down then altcoins also be in down trending this is as usual fact.

barbara44

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Quote from: Wysi on December 03, 2021, 05:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

We don’t know whether this is a price that is here to stay or maybe it will make a U turn again. Some people have said that there would be a correction, but we don’t know yet if this is the price correction that we have been expecting to see. I did ask myself this particular question when I saw the price going down, but the sources that I have been seen online are not giving me reasons that are good enough to believe that they were ‘cause of the drop in price.

So, I am just going to believe that this is the normal up and down movement that the market makes. Like one of the sources I saw online was saying that the drop as of recently is because of China, that’s quite ridiculous because it has been a long time that we talked about China and all that. So, it has nothing to do with that at all. So if you are seeing anybody telling you that, never believe it. I also saw someone saying that it has to do with Tesla making a U-turn with accepting Bitcoin as a payment,such information is also false.

onecall123

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Quote from: Ararbermas on December 15, 2021, 08:29:07 AM

Quote from: Wysi on December 03, 2021, 05:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

probably most gainers wants to keep their profits for good i mean for xmas as well reasons market suddenly turn into bearish.. Its very skeptical indeed wherein to let your money floating especially on this month wherein you know that most people need money. Lol maybe month of January there will be a changes again as it's the right time again to make investment for long run. A new beginning! Wink

Bitcoin proceeded with lower on Wednesday as bullish opinion blurs. As result, the whole market unperformed as Bitcoin dips below 48K. Outrageous fear environment on the top floor after almost one month straight upper movement. What's the significance here for bitcoin? Does the Bitcoin communities getting bearish finally? No yet to affirm. You all shouldn't panic. Mainstream adoption is coming.

WButler89

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Bitcoin has a big advantage over other cryptocurrencies and even fiat currencies such as the US dollar or the euro, as it protects against inflation over time. Unlike other currencies, the supply of bitcoin tokens is limited. Therefore, its popularity and price will only increase over time.
The price of bitcoin may experience short-term fluctuations, but in the long-term period, it will only rise. So,my advise - take it easy and keep waiting for your profit...

rozak

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Quote from: Ararbermas on December 15, 2021, 08:29:07 AM

Quote from: Wysi on December 03, 2021, 05:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

probably most gainers wants to keep their profits for good i mean for xmas as well reasons market suddenly turn into bearish.. Its very skeptical indeed wherein to let your money floating especially on this month wherein you know that most people need money. Lol maybe month of January there will be a changes again as it's the right time again to make investment for long run. A new beginning! Wink

withdrawing their money for vacation purposes for example (because of the end of the year), I don't think it is very good for long-time holders in the crypto market.
indeed we can see this market cycle with some past market trends. but it is not a reference in my opinion.
Usually, those who carry out such asset management strategies are day traders and medium-term investors. as for the long-term holders, I believe they still hold their bitcoins along with several other assets.

AicecreaME

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Quote from: Wysi on December 03, 2021, 05:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

I think this is just the usual December pullback trend plus other factors such as fear of the new covid-19 variant which is omicron, government regulations and concerns, market correction, and whales making various movement that causes downtrend. So just the same usual reasons + the pandemic threat which explains the red color in the market for the past few days already. I think this is just temporary and sooner, bitcoin together with other coins will eventually bounce back. Hopefully, the market will recover in the early quarter of 2022 for those people who wanted to withdraw some funds. Because right now, it isn't really ideal to sell because price positions are low. Although I must say it is very ideal to buy and go shopping right now because everything is on "sale". This is a great opportunity to buy the dip on those reputable coins. If you plan to stay for the long term, you should not worry so much because bitcoin will regain its price position in no time. You just have to have patience to wait. Crypto isn't for the faint-hearted people. Buy the fear, sell the greed.

Topic: Reason for the dump in Bitcoin and most of the Altcoin? (Read 867 times)