The dump was only a funding reset | Bitcointalksearch.org

buwaytress

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Quote from: btc_angela on September 16, 2021, 12:47:15 AM

^^ Yeah, it seems that $49k will be a tough cookie to break, we might attempt several times again, just like in the previous runs from $48k-$50k wherein it take us weeks to be able to break that huge resistance so here we are again.

Nevertheless, if we have reset back to 50 day average then it's a good indication that we might be in the semi bullish trend. And the price increase could be very slow for this month.

This approach seems a lot faster, hungrier, more determined, though. Could be completely wrong of course but 200MA I always see as that push factor and it's really been breathing so close to the line I wonder if 50k might not provide the expected resistance.

I'm still happy where we are, more than I thought I'd be actually, given the walloping the bears must surely be feeling now.

btc_angela

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^^ Yeah, it seems that $49k will be a tough cookie to break, we might attempt several times again, just like in the previous runs from $48k-$50k wherein it take us weeks to be able to break that huge resistance so here we are again.

Nevertheless, if we have reset back to 50 day average then it's a good indication that we might be in the semi bullish trend. And the price increase could be very slow for this month.

STT

legendary

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Top of a channel, reset back to 50 day average which despite a struggle managed to hold on and resolve above that measure and also the 200 day where the two crossed during this time. Im not aware if the cross can be said to be the cause but its supposedly bullish.
I would speculate right now that 49k is an area where we can see some level of resistance from the prior sideways action and beyond that is the old trend or channel top. I did expect more of a sell past 42k even but this was quite briefly executed.

Ziskinberg

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Quote from: Wawa2013 on September 15, 2021, 06:02:06 PM

Quote from: justdimin on September 14, 2021, 05:12:45 AM

Quote from: Wawa2013 on September 13, 2021, 09:27:15 PM

Quote from: michellee on September 12, 2021, 04:30:55 AM

~

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

It is not equal to have emotions and knowledge. Some person who is very new could have patience but not knowledge, or a veteran of crypto could have knowledge but not patience. One of them is something you can study and learn and get better while the other one is a bit about your personality, some people can become patient on investing very well on the first day because they are already a patient person, while the other one could basically be here for years but still can't control their emotions because they are a very emotional person.

So that means, is there are people who can do both, there are people who can't do both, and there are people who can do one but not the other. They are not relevant things, it is required to have both to have a great investment but just because it is required doesn't mean that everyone does what is required before they invest.

In theory, we must have knowledge and be able to control our emotions to be successful in the crypto world. But as you explained, not everyone
has both of these. Even I still see many people who do not have both still dare to invest in crypto, even though it will end in losses. Everyone
should continue to learn when deciding to invest in crypto, because I admit it is not easy to be a successful investor in the crypto world. I have
several times made big profits from crypto investments, never stop learning to increase knowledge about crypto and also trying to control
emotions better. Because if we really want to be a successful investor, never be lazy to learn about all things crypto world and keep trying to
control emotions when investing. I have been in the crypto world for more than 5 years, I can guarantee that these two things are very important
for investors to have.

Trust ourselves, trust the thing we've invested, I think everything went smooth and eliminate negative thoughts and worries. It all just happens that people don't understand themselves and they love to invest and risk their money but deep inside, they keep that usual worries and uncontrollable emotions as we know that this will led to losing. Maybe if we enlighten our understanding towards crypto and stop those doubtful minds, I'm very certain that it all be fine and have a success story.

Wawa2013

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Quote from: justdimin on September 14, 2021, 05:12:45 AM

Quote from: Wawa2013 on September 13, 2021, 09:27:15 PM

Quote from: michellee on September 12, 2021, 04:30:55 AM

~

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

It is not equal to have emotions and knowledge. Some person who is very new could have patience but not knowledge, or a veteran of crypto could have knowledge but not patience. One of them is something you can study and learn and get better while the other one is a bit about your personality, some people can become patient on investing very well on the first day because they are already a patient person, while the other one could basically be here for years but still can't control their emotions because they are a very emotional person.

So that means, is there are people who can do both, there are people who can't do both, and there are people who can do one but not the other. They are not relevant things, it is required to have both to have a great investment but just because it is required doesn't mean that everyone does what is required before they invest.

In theory, we must have knowledge and be able to control our emotions to be successful in the crypto world. But as you explained, not everyone
has both of these. Even I still see many people who do not have both still dare to invest in crypto, even though it will end in losses. Everyone
should continue to learn when deciding to invest in crypto, because I admit it is not easy to be a successful investor in the crypto world. I have
several times made big profits from crypto investments, never stop learning to increase knowledge about crypto and also trying to control
emotions better. Because if we really want to be a successful investor, never be lazy to learn about all things crypto world and keep trying to
control emotions when investing. I have been in the crypto world for more than 5 years, I can guarantee that these two things are very important
for investors to have.

justdimin

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Quote from: Wawa2013 on September 13, 2021, 09:27:15 PM

Quote from: michellee on September 12, 2021, 04:30:55 AM

Hopefully, those new people in crypto can control their emotions and not panic and hold their bitcoin or altcoin tight and buy more amounts. This situation will not stay forever because there will be a moment to bring the crypto market rise and get the bull run. The crypto market will recover sooner or later and we need to be patient and enjoy the moment and benefit from the market. Who knows, the next bull run can happen this month or next month until the end of this year so we can back to make a big profit. Learning about controlling emotions is hard, but that is worth doing, not just for new people but also for all involved in crypto.

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

It is not equal to have emotions and knowledge. Some person who is very new could have patience but not knowledge, or a veteran of crypto could have knowledge but not patience. One of them is something you can study and learn and get better while the other one is a bit about your personality, some people can become patient on investing very well on the first day because they are already a patient person, while the other one could basically be here for years but still can't control their emotions because they are a very emotional person.

So that means, is there are people who can do both, there are people who can't do both, and there are people who can do one but not the other. They are not relevant things, it is required to have both to have a great investment but just because it is required doesn't mean that everyone does what is required before they invest.

bbc.reporter

legendary

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Quote from: pooya87 on September 11, 2021, 02:39:15 AM

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.

I can agree on everything you said, however, telling everyone bitcoin is extremely hard to pump is very arguable. Onchain metrics is telling us that bitcoin is in a liquidity shock on the supply side of the spot market which might make it easier for the derivatives market to use leverage to pump the market and cause the spot market to go up together with it.

Wawa2013

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Quote from: michellee on September 12, 2021, 04:30:55 AM

Quote from: Wawa2013 on September 11, 2021, 11:29:41 PM

Quote from: michellee on September 11, 2021, 09:33:13 PM

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

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

~

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.

I have often said that controlling emotions is very important when investing in crypto. Because the volatile crypto market will make it easy for us
to panic, that's the beginning that makes us wrong in making decisions and end up losing money. As you said the crypto market often dumps,
but interestingly the market can recover and rise much higher than before. We should learn from the history of the crypto movement, to be able to
make a profit in crypto the key is to be patient and be able to control our emotions. If that can be done then we will always be ready to face
volatile crypto market conditions.

Hopefully, those new people in crypto can control their emotions and not panic and hold their bitcoin or altcoin tight and buy more amounts. This situation will not stay forever because there will be a moment to bring the crypto market rise and get the bull run. The crypto market will recover sooner or later and we need to be patient and enjoy the moment and benefit from the market. Who knows, the next bull run can happen this month or next month until the end of this year so we can back to make a big profit. Learning about controlling emotions is hard, but that is worth doing, not just for new people but also for all involved in crypto.

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control
their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get
the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with
volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to
the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

stomachgrowls

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Quote from: Furious 7 on September 13, 2021, 09:08:03 AM

Quote from: Questat on September 13, 2021, 06:09:58 AM

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.

I hope that's what everyone will think, unfortunately though they say they are holders, but when they see this kind of big dump, they do panic and might sell at a lose. 1 BTC= 1 BTCis only more acceptable if there's already a massive adoption on bitcoin, but as of the moment, it's still always covered to fiat to see its real value.

This will not be easy to do unless you feel how the holders feel when a big dump occurs whether they will sell it or stay in a bad situation but in the end it will go to a high level.
Actually, it is still a mystery from many holders whether they are actually holders or just bullshit that is said in the article when the market reaction declines, of course there will be panic regardless we always see the market every day then it will be a burden for him to sell at the same price inexpensive.

You would really be ending up as a holder when you do saw your portfolio is declining excluding into those people who had able to cut loss or had already sell earlier before the dump had started and this causes really for the

price to go down further and i dont really see for that kind of funding reset but rather a common or typical cycle for this market to have and this is why you should really be wise on how to play up things rather than
stressing yourself about dumps and crashes.

It wont be called a market in the first place if these things doesnt really exist.So better deal with it or simply get out of this market if you dont like it.

Furious 7

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Quote from: Questat on September 13, 2021, 06:09:58 AM

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.

I hope that's what everyone will think, unfortunately though they say they are holders, but when they see this kind of big dump, they do panic and might sell at a lose. 1 BTC= 1 BTCis only more acceptable if there's already a massive adoption on bitcoin, but as of the moment, it's still always covered to fiat to see its real value.

This will not be easy to do unless you feel how the holders feel when a big dump occurs whether they will sell it or stay in a bad situation but in the end it will go to a high level.
Actually, it is still a mystery from many holders whether they are actually holders or just bullshit that is said in the article when the market reaction declines, of course there will be panic regardless we always see the market every day then it will be a burden for him to sell at the same price inexpensive.

Kong Hey Pakboy

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Quote from: raji1995naya on September 12, 2021, 02:16:00 PM

I agree that that might be one of the causes. However, we are all aware of how speculative the Bitcoin price has been from its inception. There is no justification for these kinds of drops or bull markets. It simply happens out of nowhere, and if you're lucky, you get something good out of it. It is quite difficult to accurately evaluate the movements of a cryptocurrency.

Even if there is no justification, we can't discount the fact that it has done something to move the market. Plus there's no permanent dumps in any strong market, it will eventually go up and you don't want to be out of the market when that happens.

davis196

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Panic selling had always caused automatic liquidations by stop loss orders and trading bots.
BTC Price dumps had always caused increased levels of FUD,which might or might not lead to more panic selling(it depends on how "good" and "convincing" the FUD is). Grin

Those two factors always help for making price corrections bigger than they actually are.
It's a well known fact that September is a historically bad month for Bitcoin,I wonder why this month is so bad for BTC.Is it because September marks the beginning of Q4 of the financial year?Does it make any sense from a financial perspective?Is it because many crypto traders are returning from their summer vacations,so they decide to sell some Bitcoins?This doesn't sound like a legit reason to me.

Questat

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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.

I hope that's what everyone will think, unfortunately though they say they are holders, but when they see this kind of big dump, they do panic and might sell at a lose. 1 BTC= 1 BTCis only more acceptable if there's already a massive adoption on bitcoin, but as of the moment, it's still always covered to fiat to see its real value.

goinmerry

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I have to agree as well on OP's pointers and actually, no need for technical analysis involved on that. Crypto is volatile since the beginning and checking past performance is always a good reference.

But despite everyone's positive hope about bitcoin, we are sometimes still in the stage wherein being pressured to buy or to sell even how experienced we are.

Really need to get rid of that pressure time as much as we can if we eyeing for a long-term hold.

btc_angela

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Quote from: raji1995naya on September 12, 2021, 02:16:00 PM

I agree that that might be one of the causes. However, we are all aware of how speculative the Bitcoin price has been from its inception. There is no justification for these kinds of drops or bull markets. It simply happens out of nowhere, and if you're lucky, you get something good out of it. It is quite difficult to accurately evaluate the movements of a cryptocurrency.

Yes, it's a speculative asset, but the best one, so you either know how to take advantage of it's volatility or not. So whenever it drops or have this bull runs, we always find any reason behind it but we can't or we won't understand it, still boils down to the basics, law of supply and demand. So it could really that it was a reset that cause this flash crash. Good thing is that the price didn't go that further, so there's still have time to see a new all time high, or at least goes up again to $52k++.

raji1995naya

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I agree that that might be one of the causes. However, we are all aware of how speculative the Bitcoin price has been from its inception. There is no justification for these kinds of drops or bull markets. It simply happens out of nowhere, and if you're lucky, you get something good out of it. It is quite difficult to accurately evaluate the movements of a cryptocurrency.

GreatArkansas

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Quote from: Slow death on September 11, 2021, 06:24:17 PM

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.

This is a normal scenario for every price action of Bitcoin did above $50,000. As OP said, it can also be a funding reset, but yes the funding reset and it is indeed expected with that kind of a huge dump.
Another thing that I can consider that we experience a huge dump is to stop losses, most of the stop loss place below $50,000 and hitting every stop-loss trigger more dumps then more stop loss being hit that's why we can see an ugly chart, lot of wick candles.

michellee

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Quote from: Wawa2013 on September 11, 2021, 11:29:41 PM

Quote from: michellee on September 11, 2021, 09:33:13 PM

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

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

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.

I have often said that controlling emotions is very important when investing in crypto. Because the volatile crypto market will make it easy for us
to panic, that's the beginning that makes us wrong in making decisions and end up losing money. As you said the crypto market often dumps,
but interestingly the market can recover and rise much higher than before. We should learn from the history of the crypto movement, to be able to
make a profit in crypto the key is to be patient and be able to control our emotions. If that can be done then we will always be ready to face
volatile crypto market conditions.

Hopefully, those new people in crypto can control their emotions and not panic and hold their bitcoin or altcoin tight and buy more amounts. This situation will not stay forever because there will be a moment to bring the crypto market rise and get the bull run. The crypto market will recover sooner or later and we need to be patient and enjoy the moment and benefit from the market. Who knows, the next bull run can happen this month or next month until the end of this year so we can back to make a big profit. Learning about controlling emotions is hard, but that is worth doing, not just for new people but also for all involved in crypto.

Wawa2013

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Quote from: michellee on September 11, 2021, 09:33:13 PM

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

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

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.

I have often said that controlling emotions is very important when investing in crypto. Because the volatile crypto market will make it easy for us
to panic, that's the beginning that makes us wrong in making decisions and end up losing money. As you said the crypto market often dumps,
but interestingly the market can recover and rise much higher than before. We should learn from the history of the crypto movement, to be able to
make a profit in crypto the key is to be patient and be able to control our emotions. If that can be done then we will always be ready to face
volatile crypto market conditions.

LUCKMCFLY

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By the behavior of BTC it can be intuited that they have been bought in the dip, as shown in the article redferenced by Cointelegraph, the technical analysis suggests the following:

Quote

if bulls drive the price above the 20-day EMA, the pair could retest the overhead zone of $50,500 to $52,920

Source: [url]https://cointelegraph.com/news/price-analysis-9-10-btc-eth-ada-bnb-xrp-sol-doge-dot-luna-uni[/url

For now the price of BTC oscillates at $ 45k, despite all the movement that has occurred, volatility is one of the things that many do not know how to deal with, I think that for now you have to have a hodl attitude for BTC.

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

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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

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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

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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

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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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Blackjack.fun

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: ?? on ??

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.

pooya87

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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.

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.

adaseb

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It could be a funding reset if we are in a bull market still. Basically the same situation happened on Jan 11 and Feb 23. It had a nasty spike, funding reset, chopped around for a few weeks and made a new ATH shortly after. However the same situation happened again on April 18th and that was the peak pretty much. Because back then we werent in a bull market anymore.

So it might be a funding reset, if we are still in a bull market. However there is no way to tell. The crypto markets are still being pumped by celebrities. Not Bitcoin but mostly ETH and especially NFTs. However this all still is good for bitcoin itself. All we need right now is some Fortune500 company to say they put bitcoin on their balance sheet over the summer and we are golden.

cafucafucafu

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

It wasn't even a crash by any means and not sure what people are talking about when they say that this is a massive bear market in the making.

It's just a short term dump, and at the end of the day this really does not matter in the grand scheme of things.

Wind_FURY

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OP, but September being a “negative month” might be overturned by the crash in my opinion. Bitcoin crashed within the first 10 days early during the month of September after an August surge. What does Bitcoin do after every crash during a bull market? Cool

Reatim

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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

Practically speaking , we cannot called this as a dump because we started at 30k level before this 50k level reached meaning in any chances this is still a Hype ranging from 42-47,000 as of now.
i think what we can call dump if the value fell down back to 30k or even 20k level then that is alarming.
other investors only taken their profit so expect a small fall from the price but does not necessarily mean we have been dumping now.

michellee

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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.

It is normal to panic to see price drops, but as long as we can stay calm and not sell our bitcoin, we will be fine and have the other time to sell bitcoin, especially when the price can bounce to the high price. This correction is deep but we do not have to worry as the price will start another bullish trend so we can expect to make a profit later. Hopefully, after this drops, the price will get more attention from big investors out there so they will invest in bitcoin and give more chances for the price to break and make a new ATH.

palle11

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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.

Hahaha it is really a dump though but shouldn't get shivers down your mind as you already know the system and volatility of bitcoin with your experience. Although one thing I have seen about bitcoin is that we expect this kind of dump as correction after a while during a bull. I have read some talking about September being the time for some dump but I can't confirm that, but I surely expect a correction and it will bounce off going back bull soon. It dropping from $52,000 to $42,000 yesterday was really scary anyway but I see it as correction.

Fundamentals Of

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I have also read somewhere that billions worth of leveraged orders were liquidated in a matter of hours. Those leveraged orders are probably the reason why the dump took place. That was a big amount of money to be harvested by large market players. Very unfortunate to those who were confident enough that the price of Bitcoin is still going to rise and risked putting very high leverages in their orders. They are so juicy and attractive that the crocodiles in the market couldn't resist to liquidate.

Dave1

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Quote from: Woodie on September 08, 2021, 01:33:13 PM

I admit sometimes Bitcoin can give you a heart attack especially if you haven’t got to know of these strong swings it's fond of making. This minute everyone is bullish about the asset before you know it it's crashing down hard and you can imagine being in leveraged trade of 100x or so your account wouldn't survive, worse off you looking at the charts and seeing this unfold before your eyes...it's traumatizing to say the least.

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

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

Looking at the chart in the OP, after September passes if this historic data holds we are going to be bullish once again, maybe new ATH coming too...$75k maybe.

Lol, if you are newbie then maybe you will have heart attack seeing the price drastically go down from $52k-$43k in an instant. And if you have a feeling like this, crypto market is not for the faint of heart. Hopefully Sept though will be another good month, historically, it doesn't look good, but who knows maybe can see a change this year.

btc_angela

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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.

I didn't witnessed it, but I was just surprised to see the price plummeted just like that in matter of hours, billions worth being liquidated.

But holders we should remain calm, as we have seen worst in a day.

Regardless though of the reason be it funding reset or whatever, it seems that the dust have settled, we are above the average $43k which is the big support right now.

Woodie

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I admit sometimes Bitcoin can give you a heart attack especially if you haven’t got to know of these strong swings it's fond of making. This minute everyone is bullish about the asset before you know it it's crashing down hard and you can imagine being in leveraged trade of 100x or so your account wouldn't survive, worse off you looking at the charts and seeing this unfold before your eyes...it's traumatizing to say the least.

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

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

Looking at the chart in the OP, after September passes if this historic data holds we are going to be bullish once again, maybe new ATH coming too...$75k maybe.

Review Master

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Bears are making profits because many users was expecting september to be bearish month according to previous history. But according to TA, it was quite expected because it's just like the same correction which was happened back in April after hitting the ATH. Also, don't think we're going to back to a new dip in this month as bulls can take the control anytime and any spike on weekly candle can be triggered fomo among all users, IMHO. But it's best for diamond hand hodlers whatever month is going on.

LFC_Bitcoin

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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.

Tytanowy Janusz

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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.

The dump triggered funding reset but was not "only a funding reset". I agree with you about the reason of such strong dump (an avalanche of automatic orders that fueled itself by triggering new orders with price going down and down) but no matter what the reason was ... we dumped hard. I'm not expect fast recovery. We dumped 10k$ in 12h. 4k$ (10%) in just 5 min. Not even mentioning alts which dumped 20-50% yesterday. This will scare every investor away. First rule - protect your money. Second - earn. Rational investor will step back now to see how things will evolve. For sure will not rush in - "yolo buy the dip". Chart is destroyed so volume from TA traders is out.

Whats done (devastating dump) is done. No matter what the reason was. I'm not saying that bitcoin is dead. I'm saying that we will need weeks/months to gain enough self-confidence to attack 52k again.

Oshosondy

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It was just a correction and what keeps the cryto market functional, some people that have thought they have missed out will have to think and buy bitcoin so it can really to $50000 again, the reason I like crypto market is the retracement and retesting prices, nothing could have been good than that because it makes people to buy when the market dump and some people to sell to take profit at certain level of price increase. Bitcoin all the way from $52000 decreased yesterday to $43000 and the price rally has begin right from yesterday, it is now currently at $45000, we should be expecting $50000 next again.

bbc.reporter

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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

Topic: The dump was only a funding reset (Read 386 times)