The dump was only a funding reset - page 2.

michellee

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Quote from: Questat on September 11, 2021, 05:01:44 AM

Quote from: michellee on September 11, 2021, 03:29:48 AM

Quote from: rodskee on September 10, 2021, 08:21:18 PM

but the way i see it? looks like this is the beginning or bearish market and will run this whole year and the next https://coinmarketcap.com/ .

i am now showing being coward or afraid because i know this is coming but i am not ready for the dump as i have bought another coins last week lol.

but what even may come i will admit as i know another halving will bring me highest profit in my whole career here in crypto.

Calm down, you are not alone that think this bearish will run this whole year but I believe that this bearish will end soon and we will see bitcoin price start to increase and have a new rally. We will see the price back to $50k soon so if you already bought bitcoin at the current price, you can expect to make a nice profit later but with terms and conditions, you can have more patience to wait for that while you can buy more amounts if you have more funds. I also bought some coins last week and I am still trying to calm down as many people did.

We can't be always optimistic, there are times that the market will dump straight like it showed after reaching the $60k. And what happens today is might possible of the same trend to see again. This is it gives some reason why people are still thinking to buy or waiting a few days before making a buy decision or even selling.
I'm predicting that Bitcoin will touch again at $40k or even below, but I'm not thinking it worst. Well, this is a sort of prediction and the result is still 50/50, up or down.

At least, if you can calm down and still optimist, your emotion will not affect the market. We already see many times the market was dumped deeper but the market can back to the high price and going strong day by day. If we can manage our emotions, we will see something that can be a sign for us to be ready for anything that happens to the market. No matter what is the prediction from people, as long as you can manage your emotion and calm down, you will if there is an opportunity for you to get benefits from the current situation.

Slow death

legendary

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in my opinion what happened is very simple:

the price could not break the resistance that was at $52000 and for that reason it dropped a lot, this was not something unexpected because the price was going up a lot and it was clear that at some point people would sell for profits, the markets do not go up forever , people seem to forget about it.

eaLiTy

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Quote from: bbc.reporter on September 07, 2021, 10:22:31 PM

I speculate the dump was only a funding reset. The whole cryptospace market might have been pumping on too much high leverage trades already. The small correction from $50k caused a series of liquidations being activated that caused the price to dump lower. This can be viewed with open interest data.
According to bybt.com $3.72 billion was liquidated in 24 hours with much of this happened within 1 hour.

It was a blood bath created because of liquidation of contracts and it was expected because we cannot expect the market to rally that easily and even touch the all time high valuation just yet Cheesy

.
I am expecting a couple of correction before the price of BTCitcoin even begins their final rally during this bull market and by November we might once again reach a new all time high valuation. This is my dream and my expectations for the market this year Grin

.

STT

legendary

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Mostly I want to know if the reset is days or weeks, most people dont mind if BTC sells and recovers quick but not the prolonged times when it appears to be set on a course negative. Theres a tipping point for some who are more the type of day traders and swing traders who give up, we lose momentum and go into a kind of stall that lowers altitude or price for some time after. We arent yet definitely so negative just yet but it does seem to be in some decline still and certainly no quick recovery happened as we dipped below the 50 day average.

Questat

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Quote from: michellee on September 11, 2021, 03:29:48 AM

Quote from: rodskee on September 10, 2021, 08:21:18 PM

but the way i see it? looks like this is the beginning or bearish market and will run this whole year and the next https://coinmarketcap.com/ .

i am now showing being coward or afraid because i know this is coming but i am not ready for the dump as i have bought another coins last week lol.

but what even may come i will admit as i know another halving will bring me highest profit in my whole career here in crypto.

Calm down, you are not alone that think this bearish will run this whole year but I believe that this bearish will end soon and we will see bitcoin price start to increase and have a new rally. We will see the price back to $50k soon so if you already bought bitcoin at the current price, you can expect to make a nice profit later but with terms and conditions, you can have more patience to wait for that while you can buy more amounts if you have more funds. I also bought some coins last week and I am still trying to calm down as many people did.

We can't be always optimistic, there are times that the market will dump straight like it showed after reaching the $60k. And what happens today is might possible of the same trend to see again. This is it gives some reason why people are still thinking to buy or waiting a few days before making a buy decision or even selling.
I'm predicting that Bitcoin will touch again at $40k or even below, but I'm not thinking it worst. Well, this is a sort of prediction and the result is still 50/50, up or down.

LogitechMouse

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I hope that there are still some investors out there who have strong hands and chose to hold their holdings rather than going into the herd of weak hands where they sold all of their holdings because they've panicked.
The huge dump happened too fast for those some to react.

TBH, I didn't expect that a dump like that will happen. A more than $5,000 dump in just a few hours (possible 1-2) is almost the same as March 2020 when WHO declared a pandemic. What happened after that? A recovery happened. A green candle has seen although it didn't last that long because at this moment it seems like it is moving sideways. Well as for me, I didn't do anything. When I saw the market dumped, I immediately searched the internet for some reasons why this happened and a few hours later I've seen some news

.

michellee

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Quote from: rodskee on September 10, 2021, 08:21:18 PM

but the way i see it? looks like this is the beginning or bearish market and will run this whole year and the next https://coinmarketcap.com/ .

i am now showing being coward or afraid because i know this is coming but i am not ready for the dump as i have bought another coins last week lol.

but what even may come i will admit as i know another halving will bring me highest profit in my whole career here in crypto.

Calm down, you are not alone that think this bearish will run this whole year but I believe that this bearish will end soon and we will see bitcoin price start to increase and have a new rally. We will see the price back to $50k soon so if you already bought bitcoin at the current price, you can expect to make a nice profit later but with terms and conditions, you can have more patience to wait for that while you can buy more amounts if you have more funds. I also bought some coins last week and I am still trying to calm down as many people did.

pooya87

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Quote from: bbc.reporter on September 11, 2021, 12:55:28 AM

Also, everyone who blame this on the weak hands are wrong. There are no more weak hands, this is proven by onchain metrics.

I only agree with the part that this recent drop was not because of the weak hands but disagree with the rest. The weak hands are always around, their number dwindles during the downtrends and when price is not going up like what we had for the 3 months before the reversal began. But it never goes down to zero and also as the price was rising recently they are slowly coming back even though majority of them will come back when it is too late and price is sitting above $70k.
Besides, weak hands aren't seen onchain to be proven by "by onchain metrics".

Quote

Everyone is hodling, however, the problem, no one is buying.

You seem to have forgotten that price went up from $28k to $52k over the past 1.5 month which is because "people are buying"! Just because price isn't shooting up 30% per week doesn't mean otherwise.

Quote

It is the hodlers job to pump this if you want a pump. There are no more greater fools.

Wrong. Market manipulators with a lot of money are the only ones who can "pump" bitcoin and since bitcoin is not a pump and dump, it is extremely hard to pump it. Cheesy

Quote

They might presently be buying tokens from the Solana ecosystem hehehe. The tokens continue to pump despite bitcoin’s dump.

Every day (WITHOUT EXCEPTION) there is (there has been and there will be) a bunch of shitcoins that are getting pumped regardless of what is going on with bitcoin or anything else for that matter. And the next day (figuratively speaking) they will get dumped.

bbc.reporter

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@rodskee. It appears that I not only antagonize the bulls, I am also antagonizing the bears hehehe. However, I am also ready for changes. I reckon if price continues to go down and open interest goes up, this is the beginning of the whales’ short.

Also, everyone who blame this on the weak hands are wrong. There are no more weak hands, this is proven by onchain metrics. Everyone is hodling, however, the problem, no one is buying. It is the hodlers job to pump this if you want a pump. There are no more greater fools. They might presently be buying tokens from the Solana ecosystem hehehe. The tokens continue to pump despite bitcoin’s dump.

rodskee

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Quote from: bbc.reporter on September 07, 2021, 10:22:31 PM

I speculate the dump was only a funding reset. The whole cryptospace market might have been pumping on too much high leverage trades already. The small correction from $50k caused a series of liquidations being activated that caused the price to dump lower. This can be viewed with open interest data.

According to bybt.com $3.72 billion was liquidated in 24 hours with much of this happened within 1 hour.

Also, this should be expected. September was always a negative month for bitcoin during bull markets.

Source https://www.bybt.com/today

but the way i see it? looks like this is the beginning or bearish market and will run this whole year and the next https://coinmarketcap.com/ .

i am now showing being coward or afraid because i know this is coming but i am not ready for the dump as i have bought another coins last week lol.

but what even may come i will admit as i know another halving will bring me highest profit in my whole career here in crypto.

Hypnosis00

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We can't simply ignore that thing. A lot of whales making a profit when the market pumps, they are selling that time. Huge crash, that something someone is selling huge amount, it gonna be a sort of market manipulation and can't hide that thing at this time.

If we tried to analyze the market, we only have these short dumps and the recovery had come fast. This is means that these whales are just playing the market and take advantage of having capital. Maybe, if I have those, I think I'm doing the same. That is why I don't dare to put blame these whales but they gain my respect because that is really how the market works.

Lanatsa

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Quote from: jakdanyel on September 10, 2021, 04:28:24 PM

I think that it was not more than a price correction. Some people say that whales started selling a lot of coins and it caused this dump. Maybe it can be one of the reasons also, I agree. But we already know how speculative Bitcoin price has been since it was first released. We don't need any reason for this kind of decreases or bull markets. It just happens suddenly and if you are lucky, you benefit from the situation. It is really hard to analyze correctly the movements of a cryptocurrency.

Is there something we should be shocked off? If we've been here on this market already for a while then this movements wouldn't really make any questions into your mind since you are already get used
to it.

Funding reset, take profit,manipulation,ROI it doesn't really matter because all of us do share up or having similar goal which is to make profits.Dumps and pumps could happen and this is something a
place which is totally exempted for those manipulations that where other markets had experienced.

Thing here is that you do know on how to play and ride with those waves.

jakdanyel

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kycfree

I think that it was not more than a price correction. Some people say that whales started selling a lot of coins and it caused this dump. Maybe it can be one of the reasons also, I agree. But we already know how speculative Bitcoin price has been since it was first released. We don't need any reason for this kind of decreases or bull markets. It just happens suddenly and if you are lucky, you benefit from the situation. It is really hard to analyze correctly the movements of a cryptocurrency.

tygeade

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I am 100% sure that it was a whale made crash to make people scared of the decision made by El Salvador. If they had a horrible start on their first day, then it would be a lot of reason for the opposition to talk about, and that way they could have gotten more votes than the ruling party using this as well. It may not be a big deal for you and me right now, but believe me it is a huge deal for people who live there.

This is why I believe that whales tried to make the government look weak and show this as a bad decision by selling all at once. Or it could be just one big crypto whale getting out as well. Believe me no retail investor could make it drop that much in half an hour even if a million of us got together, there would be way too little coordination for that to work. Which is why I believe that this was a man made whale crash and not important.

ShowOff

legendary

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Quote from: LFC_Bitcoin on September 08, 2021, 09:32:36 AM

It wasn’t nice to see live, this is bitcoin though & none of us should be surprised. I have a habit of panicking when these things happen but I never sell. Isn’t cool to watch your net worth tumble. 1BTC = 1BTC though so HODLERS not affected etc. I am still fully confident that we’ll see more highs THIS year.

Being a bitcoin holder for years must be cool, 1 btc in 2018 = 1 btc in 2021, but the price estimate are already pretty incredible. I really wonder if those bitcoin holders can really sleep well when a -10% to 20% correction happens overnight?

Fortify

legendary

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Quote from: bbc.reporter on September 07, 2021, 10:22:31 PM

I speculate the dump was only a funding reset. The whole cryptospace market might have been pumping on too much high leverage trades already. The small correction from $50k caused a series of liquidations being activated that caused the price to dump lower. This can be viewed with open interest data.

According to bybt.com $3.72 billion was liquidated in 24 hours with much of this happened within 1 hour.

Also, this should be expected. September was always a negative month for bitcoin during bull markets.

Source https://www.bybt.com/today

I think "liquidations" is the wrong terminology here, it was most like strategic profit taking. The type of financial institutions now gaming bitcoin were used to performing these sort of stock market manipulations for a long time - they pump a stock up to get lots of "retail money" chasing highs and then dump it when the market sentiment starts to turn. We saw it to the extreme in places like Dogecoin as well, a lot of money was made from that among Elon's tweets and it is usually the little guys who get crushed. The cycle, much like the macro economic cycle will likely continue although it may get smoothed out over time as there are fewer willing sellers in the low points.

stompix

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Quote from: bbc.reporter on September 07, 2021, 10:22:31 PM

The small correction from $50k

The 20% crash from 52700 to 42900.......

Quote from: Furious 7 on September 10, 2021, 12:19:04 PM

That's how weak hands will react more when a dump occurs, even that hand sells faster than looking for more precise information, about the actual spread of FUD they are also afraid of making this dump even worse but there is power they are only weak hands and sell without thinking anything to in front of him.

Oh, again with the weak hands?
If a bunch of weak hands can erase 20% of the value in a matter of hours I'm not sure how strong the strong hands are.
And, how did those weak hands got their coins, from who did they bought? From some strong hands that..well sold?

Besides, whoever dumped at $52-47k might be weak, but they made a profit, they could buy back right now and enjoy the profits, getting their hand on more coins than before. So, rather than being weak, wasn't this being smart this time?

Quote from: NeuroticFish on September 10, 2021, 08:47:56 AM

It's not only that. All that dump was too fast for the weak hands to get to react..

Exactly, it was all over in just 1 hour, people are not traders and are not glued to the monitor probably found out when reading the press about it, plus half of the world being asleep at that time, plus seeing that the pattern of ups and downs with the same volume as before is not really broken is not really a thing of the usual scare markets.

Furious 7

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Quote from: NeuroticFish on September 10, 2021, 08:47:56 AM

Quote from: pooya87 on September 10, 2021, 08:30:32 AM

Quote from: cafucafucafu on September 09, 2021, 07:27:16 PM

Yeah, there were a ton of weak hands in the market and they were all generally very overleveraged.

I don't think this was so much about weak hands than it was about the normal day traders who panic sold, because I believe that the weak hands have not yet come back to bitcoin. They are still scared due to the 3 months of constant FUD and price not going back up. Also when checking the "size" of the drop it was really not that big, 10 to 15% are generally not the work of weak hands in my opinion.

It's not only that. All that dump was too fast for the weak hands to get to react. Also I think that weak hands usually react to the FUD spread after a dump.
Imho the quick downside movement was deliberate, in order to get as many as possible stop orders kick in.

That's how weak hands will react more when a dump occurs, even that hand sells faster than looking for more precise information, about the actual spread of FUD they are also afraid of making this dump even worse but there is power they are only weak hands and sell without thinking anything to in front of him.

Maybe it can happen with this decline because we know the whales are always ready by entering on orders.
We'll see how the pope can enforce it.

sunsilk

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Quote from: cafucafucafu on September 09, 2021, 07:27:16 PM

Yeah, there were a ton of weak hands in the market and they were all generally very overleveraged.

Not just weak hands, some people might have probably sold some bitcoin because they're probably hodling for awhile or have bought at at 28k that they want to see their profits double. But no matter what happens to the market, I am already good either way since I finally have a considerable portfolio.

The same as me.

I'm already good to see that the market has been this great despite with crashes that has happened recently. Today, from $46k then it had dropped to $45k.

Whatever happens, I'm looking to the zoomed out chart of bitcoin and everyone should be but those who just recently bought can't be this optimistic as they've bought at the top.

NeuroticFish

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Quote from: pooya87 on September 10, 2021, 08:30:32 AM

Quote from: cafucafucafu on September 09, 2021, 07:27:16 PM

Yeah, there were a ton of weak hands in the market and they were all generally very overleveraged.

I don't think this was so much about weak hands than it was about the normal day traders who panic sold, because I believe that the weak hands have not yet come back to bitcoin. They are still scared due to the 3 months of constant FUD and price not going back up. Also when checking the "size" of the drop it was really not that big, 10 to 15% are generally not the work of weak hands in my opinion.

It's not only that. All that dump was too fast for the weak hands to get to react. Also I think that weak hands usually react to the FUD spread after a dump.
Imho the quick downside movement was deliberate, in order to get as many as possible stop orders kick in.

Topic: The dump was only a funding reset - page 2. (Read 386 times)