Topic: Were Banks and Governments behind this Dump? (Read 514 times)

I am told there is much evidence that Elon is not the cause of that drop and no reason has been found. It is simply a market movement or manipulation by whales. But whatever the reason, I think they have created an opportunity for us to collect cheap bitcoins, those who still have money and are looking to buy more bitcoins really this is an opportunity not to be missed.
The price hasn't recovered yet and I don't think it will rise again any time soon but that's not a big deal either. Since it will surely rise again in the future, it cannot go down forever without increasing.

Risky but favorable if the timing is right, and I agree most of the time traders are looking for a reason and from there they will
place their insight and position their investment.

Looking for the reason and for possible to blame is something that's normal in terms of analysing,
it's been used to anticipate what might be the possible turn around and how it will benefit your
investment once you already decide where to place your targets.

I do agree that getting better overtime is the key, we should only focus on getting better overtime and that will make it better for everyone. I think it is important to notice the differences and if you could do that then you are going to be fine.

Both analyses (technical and fundamental) are not something people master at a single day, but not a lot of people keep on working on it daily neither so you are doing something good, as long as you keep on working on it and try to get better everyday that is all we can hope for. There is no perfection in this market, there is only constant growth and in order to grow that means you need to spend time on it everyday, and since it looks like you are doing that it means that you are going to be doing a lot better.

It's true that there is a lot of speculation out there and we shouldn't be shaken, many think that putting SpaceX under Elon Musk was the reason for the sudden crash in the price of BTC. A reduction in the amount of BTC holdings by SpeceX resulted in this dump happening, but slowly the price is rising again. It's true that not spending a lot of time thinking about various speculations is better, for sure there is still a chance for the BTC price to rise again.

I also searched for news that caused a sudden drop in bitcoin price but there was no reasonable answer and I stopped searching after that. You're right, just think simply it's the movement of bitcoin and that has happened a million times over the last 14 years. Why do we always make unrealistic theories about bitcoin's drop? And if we find the cause, what do we do next? In my opinion, instead let's think about what we do when the market goes down, and what we do when the market goes up, don't spend too much time thinking of conspiracy theories.

Because everyone has the freedom to access the market and enter the market in their own way, be it to buy, sell or hold after buying. So there's nothing to look at or argue about with that because everyone is capable and has a way to earn money in any market, it must be considered as a proper thing and doesn't violate anything and Elon Musk himself often uses his own strategy in finding money is also not worth saying bad because he did all of it based on the ability he has at this time. So what you're saying, I think, is clear enough.

The understanding of greed according to the thoughts of each person is not a reference that must be seen because some people only judge other people as greedy when they are unable to do so in the market or in any economic sector. So it won't be specific enough because it's only born by the minds of weak people, so I agree with the alignment you said that greed shouldn't be seen from the amount of money someone like Elon Musk has earned or through the amount of property someone like Elon Musk. Because what Elon Musk has now is thanks to the pure efforts he made in the past so that he was able to achieve extraordinary developments in his life.

I was just laughing when I read the OP, everyone is just justifying what comes to their head, what happened is far from all of what was written except one. All others have been happening from days immemorial, how come they suddenly plummeted the market so much? There have been enough controversies around this and I know more theorists will come to display their conspiracy theories. What I know that really happened was the selling of $373 million worth of BTC by Elon Musk's Space X, others are merely secondary.

The amount might be small for people to doubt it in relation to such an impact, but what people don't know is that it's not about the amount of the money but the company/person behind the money. Elon Musk and anything linked to him has an influence on the crypto space, so I am not surprised about the fall after the removal of such an amount.

Some pin point something or someones issue if there's a dump happening but the real case there on why such thing happened is due to how people react when they hear some bad or good news on crypto space. If many will just relax about certain manipulation happened maybe we cannot see bitcoin price dump so bad, but rather it remain stable and can easily recover once bitcoin negative news will fade on people's mind.

I don’t think so to be honest. We always look for justification & a reason why the price goes down but most of the time it’s just organic price movements in a free market. Unless it’s major FUD or a black swan event i don’t think we need to pin a dump on any particular reason. We will go up again soon, no need to panic or over analyse short term price volatility.

I also disagree when you say that you are not greedy. We all need money and are greedy, even the fact that we take risks to invest in bitcoin shows that we are greedy. Greed is not bad as long as you just want to make money and benefit yourself and not harm anyone. There's nothing wrong with making money with your wits and thoughts, not by stealing from others. I am also a greedy person, because I also want to have a lot of money to have a happy life like rich people, and I do not want to lie about this.

The market is a battleground, I also don't want to blame anyone for dumping because that's the law of finance and we need to accept that. If we lose, it means that we are too weak and the person to blame is ourselves. What guarantees that if we were Elon, we wouldn't do the same thing as him?

I am a small investor but I am not greedy but just like I said Elon is after money like anyone else in the world because its the necessity. And I am not criticizing at least that was not my intention that's why I also included in the first sentence that market is open for anyone so either they sell or buy or hold they have no restriction on making it public.

Not every money maker is greedy and not every greedy person is money maker too. And Elon made moves which to some people are greedy and to some are not. Because greedy is a characteristic that based and labelled by different minds with different ideas. Means its distinct property not everyone must have the same thoughts about greedy.

Well assuming the government could be involved might be something but possibly not in the sense of them having to make any actual or direct involvement in its price dump by making withdrawals or pumping more coins into the market to over run supply! By that I mean, seized coins and all. Of course the US government is always those to look out for on this but, I think where the government can step in on this would be in the FUD they would promote and even little reactions towards the negative is a win for them.

What I do believe is the Elon syndrome that tends to follow his fans and weak hands. People tend to listen to these people and never get to do there own research because, his ways got him where he is right now, at the top of Forbes list but, that doesn’t mean you take in on all his decisions as some could have ulterior motives which you aren’t in on.

That SpaceX had to floored the market with $350m+ worth of bitcoin doesn’t mean that’s the same amount you expect to get out. People, weak hands are going to go with this energy. Still, those who have a better understanding would hodl and buy through all this period.

Thanks for the heads up but I already confessed in my topic that I am not providing any sources but if anyone has some to back my thoughts or conspiracies then I am more than ok with them. And TBH, after reading these 5 causes I did not stooped my myself for making this topic even though there are not some stats and figure other than news. But if we dig more then we will definitely find some. But, I also agreed that these might not be the only factors included in this downtrend instead in my few previous replies i confessed that the market volume dropped more than the price extracted by SpaceX only (they withdrawal around $350+ Mil dollars but the market cap loses more. Means it might be a domino effect to triggers things out or market was flat too.

Yes, this is the point, current market situation is totally different from the past. Fud about btc force big traders to stop buying more and also sell some btc before panic sell start. Wheather SpaceX sell btc or not but bad news create lot of fund and their is possibility that they made this news by himself to liquidate big investors opened long position.

Market position is somehow now control by big whales and they are not allowing btc prices to go higher like we seen in previous. whenever people become confidence, they suddenly dump the market by selling news to create fud.

besides SpaceX US government also have Seized Silk Road Bitcoin and they announced that they will sell all in four benches four years. This fud will also not allow traders to trade freely. You can check full detail how btc dumped 9% after this news and yes i am also smelling that they are creating panic amongst institution to sell btc and they are somehow succeeded in their mission.

https://www.coindesk.com/business/2023/03/31/us-government-sold-216m-of-seized-silk-road-bitcoin-this-month/

I am quite late to respond to this query, but in my opinion, they are behind everything, whether it is a small dump or a big one. They always tried to manipulate almost everything. The financial sector is in their pockets, and how to transfer money and use it for their own purposes is what they have been doing from the start. The factors you have mentioned here are not enough, but they still make sense, and I am starting to think that these 5 factors are enough to start the domino effect you talked about.

And we should really not blame Elon and his associates for all the dips, as I have personally seen many people blaming him for the dips because they need someone to blame. I think this provides relief to the hearts of the people. I do not know the reason, but it must have to do something to provide relief.

Overall, I partially think banks and governments are behind this dump, as all the factors you mentioned are far from each other and also not so closely related to each other; they are so independent of each other, and I do not think it's an easy task to make such FUDs by manipulating things, but still, you have got a point.

I hope newbies can understand that this scenario you showed here doesn't also happen overnight with bitcoin. They could have that notion in their mind and begin to get fussed about it when it doesn't just fly to give 100% profit. Every business needs patience to mature before it will be time to enjoy the investment benefit. For bitcoin, an investor really has to be patient to wait at least for a circle of halving to have such ROI depending on your value of investment.

You have got a legit point here mate. But I wish this downfall will not continue till next month but I do agree that many investors are still thinking that there is more time to buy as they think market will lose more value by market I mean BTC. As I have a friend who is new in crypto still think that market will come down.

I can not think of any other factor other than the one you mentioned. That people are making assumption on the same sentiments that market and manipulators wants them to make. But I hope market will regain its value again and soon.

Space X has been proactive in selling their BTC before the Media, the last one they did, they sold before making the announcement in their first quarter of 2023 and the announcement did a lot of damage, so people don't want to sit and let that happen again, everything surrounding them is now more of speculation, nobody knows and Elon has not made any positive words or green light if they still hold or not just like the way they did back then before acquiring Twitter(X) for liquidity.

In the current state of the bitcoin market, we have more market makers and traders than holders which is why, anytime there is FUD, the price use to falls because they will certainly reduce their long position to mitigate an uncertain loss especially when they are not sure about what is causing the FUD. The government can manipulate bitcoin price though, where there is power, expect the worst from such because they can do and undo. Who knows if they decide to pressure institutional institutions to sell their bitcoin.

There are two types of people in the crypto world, one type thinks that making money is easy simple as seeing a "tip" from some twitter influencer and buying it and getting rich, which we all know that it is not possible and it would be a miracle if you could ever do that.

The other type is making it so complicated because they think it is not going to be simple to make money from it. To make it simple, if you buy 10 thousand dollars worth of bitcoin right now, when bitcoin becomes 1 million dollars, that would be 400 thousand dollars. When would it be 1 million dollars? Maybe in 2 years, maybe in 5, maybe in 10, but it will get there and there is nothing else that can turn your 10k into 400k at the same time as bitcoin can.

Thanks for your kind words dear, really appreciate it but to be honest I am still learning and trying to be good enough to analyze the market using TA and FA and I hope you remembered your advice of one YT channel to me I am also trying to learn from that but by sharing my ideas here on the forum many other people have shared there valuable insights which already correcting me and some are agreed with me. Well, thanks again.

I agree with what you said, we don't need to think negatively about them, because we invest in bitcoin also expect the same in terms of the benefits that bitcoin provides, as well as them in general as investors.
What Elon did was naturally done because indeed he kept his money in bitcoin for certain circumstances, like now, the point is don't blame fellow investors, even though we know that this dump indicator was caused by that.
But it should also be remembered that there are some who deliberately make it go down, for example the government that distributes FUD, or the government that gets bitcoins from confiscation for crimes and then they sell them intended to suppress bitcoins not to attract other people.

I'm digressing a bit with what you're saying, but I want to ask you 1 thing.  are you greedy for money, and are you after money?  are you entering this market not for profit but to support the bitcoin revolution without any profit? if you are also money hungry then don't call any investor greedy.  don't just blame or criticize Elon or anyone because once they enter the market, they are investors just like us.  Whether they sell or buy bitcoin is no different than us so don't try to criticize anyone when the market goes down.

First of all, I personally look at the current economic problem which is inherently not good, although there are also many improvements compared to the previous period, however the problems appear differently from the banking system, government, storm, ... are showing imbalance.

And the fact that this crypto market is volatile is something that I think many people who are exposed to it know, we are excited to see the price of BTC increase rapidly because of the news that large institutions suggest in favor of the crypto market BTC, and vice versa in the current context, I have learned about the cause and most people are targeting Elon Musk and Tesla as a target to cause panic, it is obvious that the plan to sell BTC is already in Q1 2023 , so the panic here is not because there was some sudden sell off, the price dropped then news I'm not a pro but I've seen this happen not only with the crypto market (one excuse to reduce), and at the same time, a large China real estate corporation has also reported bankruptcy, so everyone can understand the economic story is very bad, and crypto is no exception.

Years ago, conspiracy theorists claimed that the government controls the market for their profit. Let me clarify: I agree with your opinion. However, your case requires more than a few random SpaceX, interest rate, and Chinese Yuan connections. SpaceX reportedly sold BTC? As a private company, they don't have to disclose their finances. Rising interest rates affect the market, but so does a Brazilian butterfly pounding its wings. Combining this with the supposed editing is guesswork.

Proving such harsh claims against banks and governments requires proof. More than gossip and "my friend told me". Let's do some investigation and gain some confirmation before posting such intricate concepts. The cryptocurrency ecosystem, including BTC, is dangerous, therefore the ETH ETF's approval is no surprise. The situation can change with one single decision. But is this market manipulation or just market behavior? You were right; each photo tells a different tale to each viewer. My tale? The market reacts to several things. Be cautious when assigning blame or making assumptions. Please step back and discover more reliable sources

Your skillful articulation of an insightful analysis, focused on distinguishing the legitimacy of the recent cryptocurrencies dip, is truly commendable. Whether this decline is real or deliberately manipulated by international players, I perceive this downturn as a promising opportunity to acquire Bitcoin and Ethereum at more favorable rates.

There are traders and investors who got shaken by this dump and with fear inside they follow the direction and quickly liquidate their assets, always have domino effects just like what you mentioned.

In terms of Elon Musk, maybe there are still people who continue to follow him and trying to ride with what he's
doing, so-called insiders might leak something that may favor those people behind this movement and in the end
they will still go to earn decently.

There is some info that the Space X impact isn't that much and it's made look like they're the reason for this dump to make it look how strong they are. But as the factor being listed on the OP, it's most likely the banks and interest rates that have been the main reason on this one. It is intriguing and confusing when you don't follow the market and only relies to the news that are coming out to the media and they're making it buzzier and noisy to assume that everyone will believe what they say. So they feed those reasons even if they just made the slightest impact and tries to hide the actual starter.

I think the one that is mostly affecting the market could be that of SpaceX, the rate at which the dump come really shake the market and it was so sudden and shocking, which is now reacting negatively to the mind of investors and traders (fear). This may possibly last for the entire month of August and if time not taken we may also witness same effects in the month of September, most of the investors are being too skeptical about the market because of uncertainty at this point they are playing a smart game by securing their investment either trying to sell or setting a stop lose for them to secure their asset from going down more imo.

Agreed and thanks for some correction because I did not knew that the news of SEC is also unofficial but still things started to make sense when we talk about domino effect. But other than these fundamental factors there were technical factors included too. Like there was liquidity factors. Less demand and more supply factor. Plus another factor to back your and other member's statements about Elon being innocent is:

If he only sold 350+ million dollars then in the early few minutes the market already lost that much capital what happen after that like after many hours if we see at map we can see market lost more than that volume and once the volume is gone there is more supply thus price dropped.

This makes sense, but unfortunately, we as retail Bitcoin buyers can't definitively grasp the underlying truth. I'm quite convinced that the cunning maneuvers of a collective or individual play a role in every juncture, whether it's a bearish or bullish phase.

Currently, placing trust in a project's fundamental aspects and utilizing them for long-term investment holds greater significance than relying on candlestick patterns that can be manipulated by the ultra-wealthy.

Inquiring and knowing the truth behind the dump is very important.  This will ensure the holders about the economic position of Bitcoin whether it is being abandoned, being manipulated or being shorted.  Knowing this factor gives a trader and investors an advantage over the people who is just thinking that this is a normal occurrence and accepting anything on the table without inquiring the real cause of the dump.

It is true that during the dump it is an opportunity to buy but if we apply this idea to FTX and Terra Luna, we could have lost a lot because thinking that the dump is an opportunity to buy, the dump of the given two crypto never recover from its crash.  So it is always better to know the reason behind the dump.  It is not being brilliant but being responsible for the investment made.

I do not think that Bank and the Government have something to do with this crash.  I think it is connected to current events like the strengthening of the Dollar, the shorting of traders, and the manipulation of certain groups through releasing and recycling news to create FUD in the market are the few factors that affect the current dump of BTC.

As far as I know, they have actually sold those bitcoins since Q1 of this year, but I don't think they are selling at a loss because we don't know at what price they bought bitcoins.
Anything can happen, so it cannot be ruled out that the government behind is manipulating the market. But my question, what benefit do they have in manipulating the market? And what proof is there that they have failed to manipulate the market? Even ordinary sharks can easily manipulate the market, and if the government really wants to manipulate it things are much worse than just a 10% drop.

A lot of country has done that over the years so I don't necessarily agree that the dump in prices is because the government is regulating bitcoin, pretty sure SEC considered bitcoin a while as an asset and not a currency like other crypto so how can regulation be the problem when SEC is on bitcoin's side? If it did made an impact, how come bitcoin's still able to survive to this day? When the regulations in bitcoin tightens, it will just make it increase in demand because people will be paying more to get their hands on it.

Regarding the recent dump, I don't think that the government is in any way involved in this, the economy has been crashing even before the price have dumped so it's not them, it's probably just SpaceX and we are just overthinking and overanalyzing things, I'd say we just let this day go by and move on, it's a good time to buy now if you ask me.

Your thinking is simple but it is true, but people always want to complicate things to prove that they are brilliant. We all know bitcoin is volatile and unpredictable, so why do we always find excuses to blame when bitcoin is volatile? And what problem will that solve for us? Instead, we should take advantage of the opportunity to buy because we all want profits and profits only come when buying low and selling high. I also think that this is just a market movement.

First, I don't expect SpaceX to have sold its Bitcoin holdings, or perhaps they did, but earlier, because it doesn't make sense to sell at a loss.

Secondly, I do not rule out the theory that governments, especially the United States government, are behind everything that happened. Governments have a long history of manipulation in secret, out of sight and without leaving behind any clear evidence.

Governments have manipulation but they do not have results, in the sense that they plan something and get something different, for example every time they manipulate the market to break Bitcoin, but Bitcoin comes out stronger every time and investor confidence increases, you can look at what is happening now as everyone considers this decline a new opportunity to buy.

I believe institutional investors played a role in the recent dump events than governments.
Governments can create bad FUD through regulation - but institutional investors can simply dispose of all holdings only after they want to profit from their investment.

Whales and regulation could be an excuse - but either one of the two has played a big role in recent dumps. Maybe this could be considered an accident - but I believe in the end it can't be completely avoided because bitcoins are freely traded.

We have to recognize that the crypto sector is just a segment of the US economy. There are also other major sectors of the economy that government policies target at. We shouldn't always assume that when government increases interest rates it wants to attack the bitcoin market. An increase in interest rates is a strategic economic policy to reduce inflation. Increase in interest rates also affects businesses negatively and can lead reduction in job creation but the government have to make the hard choice.

The summary of this reason is FUD promoted by some crypto actors. This is not the first time Elon Musk is selling his bitcoin and ETH application is for features and not spots. And SEC didn't give any formal announcement that it will be approved. This news came from unverified sources that claim to be insiders.

I don't want to believe in any conspiracy, I think the volatility is still okay. based on my experience, bitcoin is always like this, very unpredictable and at the end it will amaze us. I think we don't need to worry about bitcoin whether it price will fall again or not. I prefer like to believe that btc will gain more and more adoption, so the price will tend to rise.

I want them to get liquidated and lose! Lose baby lose your asses and drive that price lower so I can buy more my win! I would for an exchange to belly up and may get into the teens!

This is war, not a drum circle

The regulations is the root cause for the dump in bitcoin price, when the government illegal the cryptocurrency the investment in that country will be very low.It automatic reduce in the flow of bitcoin in that country, it will affect the total demand of the bitcoin and further reduce the overall price of bitcoin.The government of countries which made bitcoin as illegal had huge impact in the demand of bitcoin in the market.Sometimes bank doesn’t allow the transaction of cryptocurrency and also manipulation in the market.

I also agree that the governments or banks can't really manipulate the market since, as you said, they don't really have any assets unless they are buying secretly without letting us know about their holdings but even in such a case, they wouldn't do this. This is all because of SpaceX selling a significantly high amount all at once causing FUD and fear in the market but who knows? This might actually be what they want since they can buy cheaper now.

However, we retail investors should basically be happy with the dump since we also get the opportunity to buy Bitcoin or other cryptocurrencies at a cheaper price than before, most investors were obviously waiting for this day while others might not really like this happening.

Yes, you and i can add more to our portfolio with this dump but there are many who have positions opened in futures and the target was to liquidate them and they managed to do it with perfection.

This market is highly manipulated and volatile. If you know that Bitcoin has a future (and we all know this), then we should do two things to avoid our losses.

1) Do not panic sell in these situations when we are getting negative news and sentiments every day.

2) Keep holding bitcoin in the spot (in personal wallets) and avoid leverage / future trading as big moves against our positive bias, will make us lose our money.

Yes, we have a lot of governments working on how to profit from cryptocurrency through tax and other means possible but we cant say they didn't have time to manipulate the market. An example the US government has thousands of Bitcoin and their last selling impact the market although they may not have the direct intention to manipulate the market but their habit toward crypto can lead to manipulation.
Another way they manipulate the market is through an increase in tax.
Having said that, the government may make a decision that impact the current dump but this is how the market always experience dump in price before the Bitcoin halving effect market.

It's just OP's opinion and he's exaggerating bitcoin too much. In fact, many governments are showing interest in bitcoin as well as the crypto industry, even bringing it up for discussion in parliament. But what they're discussing is finding a way to control it, tax us, not enter the market and manipulate it. You are right, they don't have time to do such silly things while they have thousands of problems to solve as you mentioned. OP's imagination is amazing  .



In my opinion, maybe this is just a movement of bitcoin because bitcoin does not always need a reason to go up and down. And as we have also seen bitcoin has not been able to break above the $30k resistance for a long time and its dumping was also a movement after a series of days of sideways.
I wonder, if bitcoin hadn't been dumped but skyrocketed to $34,000, would the OP or others have blamed someone like the government or Elon?
Or will they say that bitcoin adoption is on the rise and the price increase is the result of that?

I don't think you need to anticipate discussions in this forum because here you can speak freely based on your own thoughts even though there may be answers that are not accurate enough with something that will happen and I think it is still included in the very reasonable category. Because when market corrections occur, investors are also always moving to invest at very low prices. Likewise with traders who still have capital, they will also move to buy again when they see that the market is undergoing a correction, especially the correction in the Bitcoin price. So you shouldn't anticipate a discussion just because you have doubts in most of the replies here.

If this doing is from Elon Musk then he is a pro trader himself, because the support line was lost because of him, it appears to be a manipulation rather and this could make Bitcoin go lower than 25,000$.

The good news is, we can keep accumulating Bitcoin as this is another opportunity, and might be the last one too before Bitcoin Halving.

I have not accumulated enough Bitcoin so why the hell will I complain? My DCA will be better this time around compared to last month since we are now below 29k to 30k.

Enjoy the lower price before it's too late instead of complaining.

It's bouncing up a little and we don't know if the pressure of dumping will happen again, but it seems that the fear from those holders is adding to the impact. That's why there are lots of dumps that are happening.

If the market will continue to experience fear, we might see another huge dump to the point that it may
reached that low, but in terms of any reason, there's no info to back up the claim and all are mostly speculations.

Aliens did it to manipulate the interstellar currency...

or.

Bitcoin followed the markets down like it ALWAYS does and knee jerks at ANYTHING Musk mutters.

Call me crazy, I think it's the former.

Government (FED) SAID they are going to manipulate the markets! Their is no conspiracy they are trying to bring in inflation. Read the news much?

I saw that OP has no single proof or article reference to back up your opinion, so you are not very convincing about this. What bugged me is that right now government has so many more important problems than dumping Bitcoin, low employment, inflation, recession .etc, and dumping Bitcoin won't help them.  

The more possible explanation IMO is that some people who speculate on Bitcoin because it's halving were not satisfied with the market condition until the Q3 and they don't want to speculate further, afraid if they would loss more money on the Q4.

That's right, Yesterday the market crash and seen from the decline in the price of Bitcoin it has illustrated the situation of uncertainty in the crypto market as a whole. Now, what needs to be watched out for is the Continued BTC Correction, whether we are investing here or investors and traders are carefully monitoring its movements and facing downward pressure, with concerns about a potential decline below US$19,500 the most dominant and clear being speculative trading.

I honestly do not care about what Elon Musk did/do regarding this. We're all traders here, and much like myself, Elon Musk, and other traders, we can liquidate our investments/btc whenever we want without anyone asking. I feel bad for the guy, to be honest, almost everyone at this point is watching his move and decisions waiting for him to make a mistake.

Could be used as the right time to accumulate. For now the clear picture isn't come out. Different sources mention it to be the effect out of the Elon Musk act. We don't know the reality behind. However this crash is a much expected one prior to halving. To my understanding this crash could continue till the the halving days and bump from there.

Thank-you Elon, I now can add more at a cheaper price! Blending down my avg cost!

Thanks for your insights, prediction of BTC is definitely not an easy task but to some extent analyst or people like me do have some theories like the one i have here. But still, nobody could predict the exact same reason because at the end we all know market is also driven my investor's, trader's interest. If they like to invest in it then the demand increase over supply and vice versa
 

Point remains the same, but my intentions were, how this dump could proved to be a win win for banks, and why Elon sold his BTC like at such lower price. He did not make a deal of loss when it comes to money without intentions. And i can not agree more with your point as i also mentioned in my post that things are getting cheaper in china means there is deflation there.

Number of goods and products are in huge number while the consumers are less that's why China is facing deflation. I would love to add pros of cons of deflation in China but this topic is already covered by stompix here
https://bitcointalksearch.org/topic/china-enters-deflation-as-recovery-flops-and-demand-falling-5462665

Do you think Elon Musk panic sell or made a strategic sale?


This event is no news, it has been a cycle of events ever since.  Dump, pump, sideways, bull trap, bear trap.  We have observed almost everything.  I greatly agree that if the holders have a diamond hand, there should have no domino effect where people panic sell due to the recent dump creating FUD and making the Bitcoin market deeply dumped.  And those shorters could have learned their lesson not to mess with the Bitcoin market but sadly, many holders are still shaken by the news and manipulative market movement.

I will not oppose your ideas, and I agree with many of them, especially in enumerating the reasons that led to the current decline in the market, but at the same time I would like to ask you the same question that you asked in your last paragraph in the form of a conclusion: How did governments and banks manage to organize Is everything so systematic?
I think that the convergence of these factors was coincidental, or that it is the result of accumulations that have been taking place for some time. I also think that the most important element is the unofficial sale of a part of its savings in Bitcoin by SpiceX, and this is news that can bring down prices, even if it is just a rumor or guess.

I anticipated a discussion about the recent forum post, but I'm doubtful about the accuracy of most replies. I believe experienced traders should anticipate price corrections to assess and gauge market trends. Another correction might occur, and the strategy for large investors would likely remain consistent.

Trying to predict the fluctuations in bitcoin is a bit like trying to predict the wind. You might be able to take an educated guess at some of the motivations behind the move, but the mass market movements taking place can often snowball by themselves, if people see a lot of profit taking then they are more inclined to join in before it slips away to zero or even negative equity. The stock markets around the world are dipping at the moment, and it's a big shock to see the biggest property companies in China currently struggling - they are a leading indicator that something is going very wrong in the Chinese economy right now and they are essentially the factory of the world.

Logically, they have actually do insight the hype or the fear of losing out which is picked up by investors. Imagine government giving out strict regulations concerning bitcoin or probably against exchanges. When news like this are been spread, newbies to bitcoin or people that do not have proper knowledge about it will panic and supposedly sell, so we can just simply say it is the government policies that are actually causing this panics


Yeah last year ending with the news of bankruptcy we witnessed a bitcoin low of $16k. So this one is nothing just yet although we don’t know where it will stop but it was expected. There is always a dip like this whenever it is few months or like a year to halving according to the past trend so maybe we can place this on that category too.

But this current dip is probably incited by the fact that WSJ reported that SpaceX sold there bitcoin holdings worth above $300m but that isn’t the case there are no concrete evidence about this just speculations since Tesla sold there’s last and both companies are associated with one another. Another is the fact that green light has been given by Sec for ETF features for ETH. Also probably the Evergrand bankruptcy filing also could be part of it

Of course, there is a dump, and the usual is happening, most people looking for who to blame for the dump and not just concentrate on trying to be focused on keeping the bitcoins they have. It is of no real importance always wanting to know what is the reason behind the price drop in bitcoins whenever  it happens because it is a normal phenomenon with bitcoins that something will always affect the price either positively or negatively. The government also that the accusing finger is usually pointed towards are not the cause of this. I do not think that the government cause  many negative things that affect the price of bitcoins, these things happen normally.

As the case may be, the crypto market will surely survive it when the time comes. The dump will be for a while not forever. Let's take it that this year, Bitcoin will dump heavily in price because of the interest increase rate. Hopefully, by next year when the idea of bitcoin halving will come to people's minds, the demand for bitcoin would increase, causing its price to soar as it should. As the dump of bitcoin keeps happening, we use the same manner to accumulate more bitcoin to our portfolio

There are so many of these banks that have there own portfolio in some cryptocurrency including Bitcoin and USDT which is a way for them to maximize profits and able to pay there customers the interest they deserve. There are many things banks are doing to utilize our funds to make huge amount of money and pay there workers which is what most of us are still ignorant of leaving of funds in the bank for  the management to use and make there pocket rich while we might be waiting to get interest from our bank account holdings. I don't think the current bear market is as a result of the government policies or bank but this might be as a result of large selling power.

Banks make money in many different ways, including manipulating fiat currencies and bitcoin rates. I don't think banks are ignoring cryptocurrencies - they are really good at analyzing the situation, and they have a department of analysts who deal with currencies, stocks..... And cryptocurrencies haven't gotten far from that.

I believe this is a good thinking on the way that btc has dropped this few days. I don't believe that government have a hand in the price drop or which government is that? Again interest rate  will not cause a sudden drop of price within two days thereabout. I believe that the story surrounding the sale of Elon musk SpaceX sold bitcoin and whether that story is verified as true or not, we know that rumour could make hodlers to start dumping thereby creating more FUD in the market.

Again, I understood your point but when the demand for dollar increases worldwide and all the major currencies suffer as dollar becomes stronger, then that will also make the crypto markets go red and we'll see blood on the streets everywhere. Even if BTC used to see good amount of volatility before, that was all because it was being controlled by retail investors, but now institutional investors are involved who go according to the strength of dollar and I've been keenly observing this since they entered crypto, and even you can.

I don't think governments are only focused on BTC and/or crypto as they've got much big economic affairs to look into, however, when you're asking that who will profit from this dump?

Let me tell you, this (and even if BTC crashes down more) is a chance for every single trader out there that wanted a discount. So, it's a win-win not just for the governments but for all the traders as well.
See the positive side too, buddy!

And yes, US30 really helps a lot, but don't you trade it ever because it's a highly volatile thing.

Speaking of the Chinese Yuan, Evergrande filed for bankruptcy in New York recently: https://finance.yahoo.com/news/china-evergrande-group-files-chapter-205343548.html

They have something like 300B in liabilities, and they aren't the only ones with a liquidity crisis. It tells you that the Chinese economy is heading in perhaps a tumultuous direction. The domino effect will be that other economies slide into a recession. I don't think it's some giant conspiracy. Companies rather have liquidity and let the recession present itself to be a buying opportunity of cheap assets.

change this to MEDIA FUD spreaded that SpaceX sold BTC

what actually happened was in the last 2 years elon changed how much his holdings were worth in dollar value due to the price corrections in the last couple years.. this "write down" is not the same as selling and is not something that happened this month..
its MEDIA making a old news story and a bunch of influencers with their own social media and fake news sites that misread it and then changed it to sound like a sale occured[/list]

High interest rates mean less supply of dollar in the market means dollar will gain value over other currencies but believe me we can compare USD with other foreign currencies but not with BTC. Because BTC is way ahead of US dollar in many aspects of life. But that's not what we are discussing here we are discussing that people now found usd a better place of investment instead of BTC that's why they are not investing in BTC and BTC demand decreased like other foreign countries demand decreased.

And that's exactly what i was trying to saying, but tell me does it mean, Government really manipulated market to make US dollar more stronger.

After reading your point or stats i learnt:
1. The government which will get the most benefit out of it is US government. (Which i did not mentioned in my post)
2. This US30 measurement is really helpful to observe some readings to clear doubt.

Just to clear things out i was not aware of US30 before.

Banks and Government doesn’t have any major Bitcoin holding for them to dump the price. The real culprit here are those people who panic sell as well as those whale traders that taking profit.

The current dip is not a major concern since we experience worst than that with a valid reason for dump while the current dump is just due to speculation wothout any solid proof that it’s the real cause. This dump will not happened if everyone will just hold since the government can’t dump the price because they don’t hold the majority of the Bitcoin supply.

TBH, I don't give a shit to what Elon Musk has/would have done even if he's got any role in this because in the end, we all are traders and we have the right to liquidate our funds whenever we need them, and if he did the same, then what's wrong with that? It's his money that he invested, who are we to ^blame^ him for this selloff? That's my pov and I'm not angry, but I feel pity for Elon Musk. In the end, he's a great guy who did too much for the society once he tasted success, and is still doing his best in other areas if we weed out crypto while talking about him.

I do believe too that interest rate is the key player in this recent dump,  raising the rate simply means making the dollar stronger, and obviously, any currency or asset that is trading against the USD will suffer the pain, Elon Musk on his side might have seen reason to sell and selling such huge amount of Bitcoin at the time will definitely cause more pain and dump the price.

Absolutely not. I understand that there are some people who think stuff like this and I get why they think of it because governments have always done "illegal" things with the law allowing them to do it. Some people do not understand the concept of the "government can do it, you can't" logic in law, just for example, if someone points a gun at another person, you can't just shoot that person and kill them to protect the other person, you have no right, you would be charged with murder, whereas a cop can do it. This is the simplest explanation of the "government can do it, you can't" logic. But this isn't one of those, they didn't do it and there is no proof of it anywhere.

I do believe that the biggest contributor with the dump is what SpaceX have done under Elon. That is a huge anount of holding to be sold in a single night. This has been surfacing around the web with ssunptions of why did Elon come up with selling that much of his wealth. As we all know that was almost two years of accumulation and was sold for a lower market price. No one knows the reason why did they do such thing but to my assumption, Elon wanted to dump the market price and trigger a domino effect and once oppoetunity come, they's buy back for a lower price for profit. Unfortunately the ones who suffered the most are small investors which have met with their liquidation and market price tolerance. There's a chance for recovery but no one knows when will exactly this thing would happen.

Am not going to disagree with any of these because either of them can also affect the bitcoin market demand but not on supply since the market majorly go by the bitcoin supply through mining, but other whales and holders can also affect the supply in other direction, the good about it al is that they were all influenced by news and people together with investors take action on the next inline to do, if bitcoin market falls, it will definitely rises because it has the ability to resist the market influence from any of these to maintain it value, am looking at what others will say could have resulted to when the market rises back when we experience a bull.

The interest rate increase was surely going to make dollar stronger which would definitely impact on various industries such as crypto and even on forex. Did you watch what's been happening in forex since yesterday and today also? US30 had been on a constant decline with other major foreign currency pairs against USD following the same pattern, tell me how would crypto survive that?

Here is what I was thinking about the current situation of the market. I know I am going to talk about BTC but somehow things will be moving toward governments so I thought this section would be good to make this post. It's based on my assumptions and could be proved right if one is able to provide some tools to back my assumptions with stats.

The market was dumped due to 5 reasons, which are as follows:

• SpaceX sold BTC unofficially means there is still some confusion about it but they need not answer us that either they have sold or not because it is an open market.
• The surge in high-interest rates.
• High increment in Bond yeild
• ETH ETF just got a green light after this dump ETH went around $1500 which provided BTC whales a chance to collect some ETH too because this greenlight of ETF will take ETH to new heights.
• Devalutaion of Chinese Yuan

Source

The thing is, I think the government tried to manipulate the market like first they increased the interest rates recently just before this dump like a few days ago and after that, there was an increase in Yield bonds means more people are giving their money to Governemnts in exchange of getting a fixed return and they are for sure. And banks are now giving the same money back to those who are in need now after this dump for example those who wanted to take some entry and those who lost all of it because according to analysis the liquidation amount that was gone in this dump was more than the one liquidated in FTX. (source). The point is the same governments are now giving that money borrowed from other people to the needy ones with huge interest rates and I think if that's the case then interest rates will increase more.

Plus a few days back I also heard the Chinese Yuan was losing its value and the Netherlands was going into stage inflation and such news is just to put more pressure on holders and traders of BTC. Which it really did. Now those who have lost everything will turn towards banks for borrowing money and that money will have more interest rates on them means the borrowers have to pay more interest rates.

It's a win-win from all angles for banks and governments. Now the question is, how did they manage to make it work if they are really behind it. Or I might be wrong here because every picture has different stories for each viewer of it so what are your stories about this situation? Is it real or manipulated to fill bags? Not to mention why did SpaceX sell those amounts of BTC when they don't have to? We all know that Elon is a person of money who always follow the money and how he would sell the reaming amount of BTC which is all SpaceX has according to the wall street journal.