Reason for the dump in Bitcoin and most of the Altcoin? - page 6.

Alert31

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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.

It's because of FUD or just a market correction but just take it easy don't be a panic seller because it was expected as market usually crashes before a big pump. Whatever the reason behind this sudden market drop, it's a good chance to buy bitcoin and other potential altcoins as long as you have capital and then just hold and wait the market to recover.

Hypnosis00

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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.

It was the question for many and to find out nothing who is behind this or whatever it is. We usually point out the whales for manipulating the market price however, there is no such info yet to justify (or I just missed something). FUDs? That always comes but base on my observation, this would likely don't contribute a huge impact on the market now.

I'm saying this is temporary but I would say that comes normally like in the old days. Now, it was very certain that not all the time we are bullish, sometimes we face a crisis in which it tests our patients and faith in crypto. And those who trust will surely keep their coins but for those who are not, they are probably selling it now.

Victorik

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The reason for the dump is obvious. Whales are dumping their bags, and weak hands while seeing the downward trend in prices are panic selling. Hopefully, things will bounce back and the market recovers.
BTW, my portfolio is still in profits.

saddampbuh

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tapering, rate rises, bad job numbers, herd mentality everyone expecting to sell and buy back lower, only the whales actually will, retail noobs lose their money as usual

Ozero

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Quote from: TravelMug on December 03, 2021, 08:21:40 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.

The last reason that I heard is that the market was affected by the latest covid-19 variant (Omicron) that is gripping the world again specially in Africa and Europe. And not only crypto market, but the rest of the traditional financial market is affected to.

But hopefully this is just a temporary setup, December historically is a good month for crypto as it experienced a good spike in the price due to the holidays. So let's see if the pattern will continue this month and see if new all time high is still possible. And I don't think we are entering the bearish trend yet.

How can the emergence of a new strain of the Omicron coronavirus affect the price of a cryptocurrency? Are people scared again, are taking urgent measures to protect themselves and for this they needed additional funds that they extract from cryptocurrency? I doubt it very much. In this case, the fall in prices would not have been so sharp and deep. Most likely, this is a conspiracy of whales to extract additional profit.

Toy base

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We all know the reason for the dump in Bitcoin and most Altcoin. But we all know that the price of Bitcoin depends on the market. If the price of Bitcoin goes up then we have to understand that the demand for Bitcoin is increasing in this market. If its price continues to decline, then it must be understood that its price has decreased. All of these marketplaces keep us in the globe all the time which is why we don't always understand the bitcoin market.

haharadzha777

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Quote from: BayAreaCoins on December 04, 2021, 01:46:49 AM

This is one of the best charts ever:

https://pbs.twimg.com/media/FFvYEovXEAQsTaC?format=jpg&name=large

yep ... i illustrate by today )

https://i116.fastpic.org/big/2021/1204/61/1f628ab9ad97c139c638002327353361.jpg

https://ibb.co/DLHY5zv

mindrust

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Some say FED is going to hike the interest rates, some say the reason was Omicron, some say the markets are simply overbought so it needed to correct itself. Could be anything. Maybe some rich whales just decided to buy some nice shiny stuff because why not? Maybe the reason was all of them stated above. We can't know it for sure. My guess is it is about the FED mostly.

BayAreaCoins

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This is one of the best charts ever:

Reatim

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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 one is the reason why the market now is dumping hard , and of course FUD again as this topic pointed and discussed .

Quote from: Voxo2222 on December 03, 2021, 12:39:55 PM

https://www.newsbtc.com/news/bitcoin/sec-boss-acknowledges-that-bitcoin-is-a-competitor-for-u-s-banking-system/

Lol...now not China Ban btc fud lol now USA BAN BTC LOL...gerry gansler want to buy cheap btc lol
This financial and crypto getting funny as it get it ....
Same lame ....as xrp case ... Cheesy

What fun more they do lets see it lol

Yes this may sounds stupid but looks like the community is still affected with Fud and panicking .

lets not add to the dump guys, keep your bitcoins on hold and try to close your Eyes for a while, maybe in the next days everything will be settled .

onecall123

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Quote from: dothebeats on December 04, 2021, 12:47:12 AM

I'm not really concerned with what happened tbh. We've been up for so long and I guess it's about time for a correction which we have right now. All other coins are experiencing massive dumps, and it's understandable seeing how bitcoin tumbled as of late. Right now, I would still wait and see until I buy coins again. There isn't much to spend on anyway and this might be the perfect opportunity for other people to buy in on the crypto market as well.

Currently, Bitcoin is trading around ~$47,000, which is not convincing enough. Approximately an hour before dawn on Saturday, Bitcoin's price sank to nearly $42,000, a decline of more than $9,000. Our last resistance is now at $42,000, so buy Bitcoin next week. All crytocurrencies experience a Flash Crash. Why is this happening? I'm still trying to decide if it's the perfect buying opportunity here or not?

One thing I've learned so far about crypto is that you appreciate dips more as you become more experienced. However, this dip is scaring me a bit.

dothebeats

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I'm not really concerned with what happened tbh. We've been up for so long and I guess it's about time for a correction which we have right now. All other coins are experiencing massive dumps, and it's understandable seeing how bitcoin tumbled as of late. Right now, I would still wait and see until I buy coins again. There isn't much to spend on anyway and this might be the perfect opportunity for other people to buy in on the crypto market as well.

Wexnident

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Idk, market correction, the fear of new variant, government issue stuff, isn't it the usual? And most of the altcoins follow Bitcoin when it dips so it isn't anything new. If you were a long-time hodler as others have said, Bitcoin dipping by this small bit wouldn't really matter. Now if you're a new hodler, then I suggest just gritting your teeth and keep on hodling, it will turn better, just not now imo. If it were really about the new variant, then it should be temporary, just like what happpened when covid was first introduced into the world back then.

michellee

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After the pullback moment, bitcoin price getting down again and now, the price is at $52,500, which is low than yesterday. But many reasons cause bitcoin to plummet and still not have a chance to increase back, which we do not know why. It seems this situation and conditions push us to become a holder for some time and not try to enter the market because if the price is hard to analyze, we can not profit. Taking a break will be good for now while we can still watch how the market moves so if we see the chance to enter the market, we can directly enter and leave the market before it is too late.

tranthidung

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Farewell o_e_l_e_o

Quote from: TravelMug on December 03, 2021, 08:21:40 PM

The last reason that I heard is that the market was affected by the latest covid-19 variant (Omicron) that is gripping the world again specially in Africa and Europe. And not only crypto market, but the rest of the traditional financial market is affected to.

It is news on tip of an iceberg and is not really reason.

Bitcoin rises because of SEC, then falls because of SEC
Bitcoin rises because of ETF, then falls because of ETF
Bitcoin crashes because of pandemic in March 2020, then rises because of pandemic. And now it moves to Omicron variant.

Skip all such news, all tips of iceberg, Bitcoin is still on its yearly bullish run, since 2009. It is clearly shown on Yearly Lowest price chart.

TravelMug

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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.

The last reason that I heard is that the market was affected by the latest covid-19 variant (Omicron) that is gripping the world again specially in Africa and Europe. And not only crypto market, but the rest of the traditional financial market is affected to.

But hopefully this is just a temporary setup, December historically is a good month for crypto as it experienced a good spike in the price due to the holidays. So let's see if the pattern will continue this month and see if new all time high is still possible. And I don't think we are entering the bearish trend yet.

kaya11

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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.

Reason for both are market correction, either whales are playing and regulations by the government. Another is some shitty tweet by someone who is so famous that his words are like the laws of bitcoins price. For eth there's a developers who are unknown to be found after the funding is done, or the coin is a shitty one that needs to be dump right away to get what you've invested. So many reasons and scenarios you just need to be a keen observer.

Wysi

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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.

Topic: Reason for the dump in Bitcoin and most of the Altcoin? - page 6. (Read 867 times)