what a surprise dip - page 6. | Bitcointalksearch.org

onecall123

sr. member

Activity: 2044

Merit: 323

Quote from: Beparanf on August 18, 2023, 09:26:46 AM

Quote from: onecall123 on August 18, 2023, 09:20:13 AM

Here we go again.
Elon Musk reportedly sold more than 370 million in BTC, causing Bitcoin's price to drop by nearly 15%. It seems like everything he does has an impact. I find it hard to believe that he did this.

Elon Musk didn’t sold now but rather the recent news stated that his company total Bitcoin last 2021 is worth 370M in Bitcoin that they already sold but there’s no exact info on when and where. Elon holdings probably sold during the previous dip to 16k because the price will dip more than this current price if Elon sold now because of the very bearish signal on the chart.

This dip is inevitable since Bitcoin can’t break its 30k resistance for a long time. Probably those who fomo buy before already secure profit since the price is not moving any further upwards.

At first, I had my doubts about this post, but now it become clear to me. I should have done more research before sharing my thoughts, but somehow misguided. There's so much false information out there, and it's really challenging to find accurate details. Thank you once again, and I value the effort you put here.

Yes, Bitcoin 30k resistance has taken for quite a while, and this kind of price movement is to be expected.

uneng

hero member

Activity: 2030

Merit: 777

Leading Crypto Sports Betting & Casino Platform

Quote from: SmartGold01 on August 17, 2023, 06:14:08 PM

What is possibly to happen in the market, more dip that's seeing below 20k or something similar?
And is this another sign for bear market?

Yesterday or two days ago, can't remember exactly, I read a huge chunk of BTCs (1005BTC) from Satoshi's era were moved to another address. It seems an early investor has decided to sell his holdings or to just move it somewhere else, what must have caused panic inside crypto market among other investors.

Satoshi-era Bitcoin awakens: 1,005 BTC mined in 2010 on the move

It always happen to Bitcoin when large portions are moved from address to address. It always lead to panic selling and massive dips. That is very unfortunate, especially because we were expecting BTC to only rise from now on. Sad

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

You don't need to worry if the price will decrease again and you should enjoy the moment while trying to buy Bitcoin at a lower price than the current price. But if you miss buying at the current price because the price has started to increase, you can buy at a later price.

We are still in a bear market, given that the price is still under $30k and currently at the $26k level. Don't trust the news you find too much because it might be fake. The important thing is not to be swayed by idle speculation and make up your mind.

The price may still be in its current position or it could be that the price will decrease again. So don't worry and use your time accumulating Bitcoins because this is still the right time to do it.

Dave1

hero member

Activity: 1302

Merit: 522

Quote from: Minecache on August 18, 2023, 09:44:38 AM

Quote from: Beparanf on August 18, 2023, 09:26:46 AM

Quote from: onecall123 on August 18, 2023, 09:20:13 AM

Here we go again.
Elon Musk reportedly sold more than 370 million in BTC, causing Bitcoin's price to drop by nearly 15%. It seems like everything he does has an impact. I find it hard to believe that he did this.

Elon Musk didn’t sold now but rather the recent news stated that his company total Bitcoin last 2021 is worth 370M in Bitcoin that they already sold but there’s no exact info on when and where. Elon holdings probably sold during the previous dip to 16k because the price will dip more than this current price if Elon sold now because of the very bearish signal on the chart.

This dip is inevitable since Bitcoin can’t break its 30k resistance for a long time. Probably those who fomo buy before already secure profit since the price is not moving any further upwards.

You are right, I did some research on the news that Elon sold 373 million BTC. But there is mixed information and no accurate information about Elon sold now and that is what caused this drop. While what you say makes sense, bitcoin hasn't been able to break through $30k for a long time and a drop in price is inevitable. But this price drop was really unexpected because the price fell so quickly and caused panic in the market. No one knows what will happen next, but I hope bitcoin won't drop much more.

Yes, information is not that accurate and perhaps it was taken out of context by this FUD'ster and turn against bitcoin to create some noise and it has taken it's toll on the price as it goes down hard to $26k again.

But I doubt that it will ever go down to $20k, there are a lot of support line along the way. And it seems that the panic has subside though. It has settle down a bit and I think it can go back to $28k at the end of the month and there will be no more drops.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: Beparanf on August 18, 2023, 09:26:46 AM

Quote from: onecall123 on August 18, 2023, 09:20:13 AM

Here we go again.
Elon Musk reportedly sold more than 370 million in BTC, causing Bitcoin's price to drop by nearly 15%. It seems like everything he does has an impact. I find it hard to believe that he did this.

Elon Musk didn’t sold now but rather the recent news stated that his company total Bitcoin last 2021 is worth 370M in Bitcoin that they already sold but there’s no exact info on when and where. Elon holdings probably sold during the previous dip to 16k because the price will dip more than this current price if Elon sold now because of the very bearish signal on the chart.

This dip is inevitable since Bitcoin can’t break its 30k resistance for a long time. Probably those who fomo buy before already secure profit since the price is not moving any further upwards.

You are right, I did some research on the news that Elon sold 373 million BTC. But there is mixed information and no accurate information about Elon sold now and that is what caused this drop. While what you say makes sense, bitcoin hasn't been able to break through $30k for a long time and a drop in price is inevitable. But this price drop was really unexpected because the price fell so quickly and caused panic in the market. No one knows what will happen next, but I hope bitcoin won't drop much more.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: SmartGold01 on August 17, 2023, 06:14:08 PM

I got notified few minutes ago on the sudden drop of -11 % bitcoin price and I also noticed same thing also affected other altcoin, while in a post they said of price surging within 72hrs that is to say that from now till 20 August we might see a potential Green and may cross above 30k within the next 3 days.

But to my surprise seeing that bitcoin already gone below the predicted price, although I can't still argue the fact that price can be manipulative and something positive could hit the market and, instantaneously changes direction just as it did happen now. Such effect could like happened to bitcoin and the price might dip more or surge more.

What is possibly to happen in the market, more dip that's seeing below 20k or something similar?
And is this another sign for bear market?

The question is, its seems that you are in a panic mode? For sure you have seen the price going down last year to $15,500 and yet we survived that lowest low for this bear market.

So just stay relax, they say it has something to do with SpaceX or Elon Musk selling his stash of bitcoin. Or something happen to China that really affected the price right now. But in any case, we can still go bounce back from this. Just another setback and the best thing to do is to buy and not panic sell.

Beparanf

hero member

Activity: 2744

Merit: 761

Burpaaa

Quote from: onecall123 on August 18, 2023, 09:20:13 AM

Here we go again.
Elon Musk reportedly sold more than 370 million in BTC, causing Bitcoin's price to drop by nearly 15%. It seems like everything he does has an impact. I find it hard to believe that he did this.

Elon Musk didn’t sold now but rather the recent news stated that his company total Bitcoin last 2021 is worth 370M in Bitcoin that they already sold but there’s no exact info on when and where. Elon holdings probably sold during the previous dip to 16k because the price will dip more than this current price if Elon sold now because of the very bearish signal on the chart.

This dip is inevitable since Bitcoin can’t break its 30k resistance for a long time. Probably those who fomo buy before already secure profit since the price is not moving any further upwards.

onecall123

sr. member

Activity: 2044

Merit: 323

Here we go again.
Elon Musk reportedly sold more than 370 million in BTC, causing Bitcoin's price to drop by nearly 15%. It seems like everything he does has an impact. I find it hard to believe that he did this.

Seems like the big players are aiming to find a good time to enter the market. People who easily sell are getting out. To be honest, I don't pay much attention to the news that's trying to explain this price movement. Anyway, it might be possible this is the last chance to buy at this price level. It's definitely going to be an interesting week ahead.

Nrcewker

copper member

Activity: 2156

Merit: 536

Building my own Dreams!

I don’t think we will see any dips further. This sudden dip was due to SpaceX/Tesla or Elon musk, selling a huge amount of Bitcoins at once. I don’t know what the motive behind musk for a such a step, but this was the primary reason for which we saw this dip in price of the coin. I would suggest not to worry much about it. We know what Bitcoins are capable of, hence just hold them till the next bull run.

bitterguy28

full member

Activity: 2002

Merit: 175

★Bitvest.io★ Play Plinko or Invest!

Quote from: Husires on August 17, 2023, 10:17:57 PM

The good news is the quick pullback from the $25,166 level, which if it continues, we will all see 20,800 being tested, so we are lucky, although some analyzes try to answer the reason for the decline, but the continuation of the price at this level is a rise in itself.

Let's see what happens in the coming days. Will we continue at this level or go back to about $21,000?

please hope this will not happen, 20 thousand seems to be super dump for
our market now and this did not happen the whole year.
so maybe this 25k will be the resistance , and looking to have a strong fullback in the next coming weeks.

Yamane_Keto

sr. member

Activity: 406

Merit: 443

My forecasting skill has gotten a lot better.

Quote from: Yamane_Keto on August 12, 2023, 09:00:54 AM

Prediction 1: $25,611.14

The current price trend makes my perceptions of the next stage be

We won't see $30,000 levels soon, or at least until the next Fed meeting.
There is a good chance of a retest bottom at levels below $17,000.
The ATH for this year is the Fibonacci support level at $41,000.

It is a good opportunity for those who want to buy at a low price, everyone who wants to sell will not do that after Q4 2023 and positive news will begin to appear by December, then we will not see $30,000 again.

Not Investment Advice

Sim_card

sr. member

Activity: 406

Merit: 360

Bad news on economy and whales selling a big portion of their bitcoin investment do affects bitcoin price. This will be a temporary thing because no one can manipulate bitcoin price for long. At as when OP wrote this thread bitcoin was 25k+ but presently it has gone to 26k+ which shows that we will have a pump in the price soon. I was expecting the dump in price but not as dip to the extend since bitcoin has been sitting on 29k+ for the past three months. A dump is needed to have a pump and I believe that soon there will be a good news on bitcoin that will pump the price. This is an opportunity for us to stash up more bitcoin to our portfolios for the next bulk run.

Poker Player

legendary

Activity: 1372

Merit: 2017

Quote from: SmartGold01 on August 17, 2023, 06:14:08 PM

What is possibly to happen in the market, more dip that's seeing below 20k or something similar?
And is this another sign for bear market?

What has happened has a very simple explanation:

July Fed Meeting: FOMC Raises Interest Rates To A 22-Year High

And the key is in the following paragraph:

Quote

After pausing rate increases in June, the Federal Reserve resumed its rate hikes at today’s meeting of the Federal Open Market Committee.

The market after the June pause had started to uncork champagne bottles and after the last meeting has returned to bearish mode, something that affects financial assets in general, including bitcoin.

The only consolation we have left is that we can buy cheap.

laurenB7742

full member

Activity: 1302

Merit: 128

Vaccinized.. immunity level is full.

Quote from: martinex on August 17, 2023, 10:23:07 PM

Yes. Today in the red market again the price of BTC corrected to a price of $25,166 and this was unexpected, and one more small reason after Chinese property developer Evergrande filed for bankruptcy protection in the US and this sparked concern in the real estate market as well as other global economies and could spread to other parts of the world other. But, if we look at things like this (corrections) they are still considered reasonable and in my personal opinion this is a very potential entry point for institutions and other large investors if they enter now.

When the market crashes or gets dumped, there's always news coming out but honestly, I don't believe news like SpaceX selling bitcoin or Evergrande filing for bankruptcy is the reason why the market crashes. It's all just perfect manipulation and the news is just an excuse to legitimize dumping.

With bitcoin down more than 10% and the altcoin market being severely dumped creating a certain amount of panic, people are getting scared and I think it's time to buy. When people are afraid, we should be greedy.

martinex

full member

Activity: 322

Merit: 128

Sugars.zone | DatingFi - Earn for Posting

Yes. Today in the red market again the price of BTC corrected to a price of $25,166 and this was unexpected, and one more small reason after Chinese property developer Evergrande filed for bankruptcy protection in the US and this sparked concern in the real estate market as well as other global economies and could spread to other parts of the world other. But, if we look at things like this (corrections) they are still considered reasonable and in my personal opinion this is a very potential entry point for institutions and other large investors if they enter now.

Husires

legendary

Activity: 1582

Merit: 1284

The good news is the quick pullback from the $25,166 level, which if it continues, we will all see 20,800 being tested, so we are lucky, although some analyzes try to answer the reason for the decline, but the continuation of the price at this level is a rise in itself.

Let's see what happens in the coming days. Will we continue at this level or go back to about $21,000?

Davian144

hero member

Activity: 2520

Merit: 578

Quote from: SmartGold01 on August 17, 2023, 06:14:08 PM

I got notified few minutes ago on the sudden drop of -11 % bitcoin price and I also noticed same thing also affected other altcoin, while in a post they said of price surging within 72hrs that is to say that from now till 20 August we might see a potential Green and may cross above 30k within the next 3 days.

A decrease in the price of Bitcoin can always have an effect on all altcoins, including even the most popular altcoins, and this has become a very common sight in the market because in the past this was the case. And if their post says there will be a price spike in the next 72 hours, that means everyone should take advantage of this dip by buying what they can before the intended increase occurs.

Quote

But to my surprise seeing that bitcoin already gone below the predicted price, although I can't still argue the fact that price can be manipulative and something positive could hit the market and, instantaneously changes direction just as it did happen now. Such effect could like happened to bitcoin and the price might dip more or surge more.

That could be true, although it could also be the other way around because the spike effect would be most noticeable when the majority of people take advantage of the current conditions to buy Bitcoin. Moreover, the price is still very close to $25K which is the most unpredictable price level this month for Bitcoin and I am more than sure that the price range seen in the current market will not last that long in Bitcoin this month.

Quote

What is possibly to happen in the market, more dip that's seeing below 20k or something similar?
And is this another sign for bear market?

This does look like a sign of the next bear market, but I think more optimistic that this can also be a kick-off for Bitcoin to make a jump as their post says and I also believe more in what you said above because I think it is also more logical for the current state of Bitcoin.

bbc.reporter

legendary

Activity: 2926

Merit: 1440

Quote from: Quidat on August 17, 2023, 07:13:44 PM

Cant provide with some TA analysis on here but we know that Technicals could easily be fucked up suddenly by sudden news or simply with Fundamentals.

Unpacking SpaceX Bitcoin 2021-2022 sales worth $373M
Elon Musk’s SpaceX Liquidates Entire $373,000,000 Bitcoin Stash

This is why i dont really trust up technicals most of the time specially that news something similar or like this could pop out just like in a blink of an eye.
Feel sorry for those who had made out some long positions for sure they had been liquidated.

It appears that I am not very updated to cryptonews as I would have liked hehe. I have always thought that Elon's companies have already sold all of the bitcoins held in their treasury on 2021 - 2022.

In any case, it appears that Tesla has 10,725 bitcoins left in their balance sheet according to some articles, the speculation should presently be if Elon will give the command to sell them also. This will be head shaking because clown Elon declared bitcoin a long term investment on 2021 and he said that Tesla will accept it as payment.

STT

legendary

Activity: 3878

Merit: 1411

Leading Crypto Sports Betting & Casino Platform

owchie nasty flush but does it count more then the short term. It appears we have moved down to the 25k having failed to hold the levels near to 30k. So now we must resolve the support possible in this area and decide pricing going forward. How it closes on daily and weekly bars is where it really matters further out.
This does reset or bring us back to touch the highs of Feb this year. This is the recovery of 2023 double back checking its strength in an aggressive way, dull market then overwhelmed by the wider market being negative and selling off. The pressure appears external to that extent but speculation has raised us and can bring us down if people are forced to close positions to gain dollars and repay their leverage, thats why leverage hurts and creates volatility its not as solid as it appears. So we have to find hard ground now.
Low is the yearly average I note and perhaps of wider significance is this now challenges the 200 week average area and how we hold or handle that long term momentum is what really matters for the rest of the year.

Quidat

hero member

Activity: 2548

Merit: 533

Cant provide with some TA analysis on here but we know that Technicals could easily be fucked up suddenly by sudden news or simply with Fundamentals.

Unpacking SpaceX Bitcoin 2021-2022 sales worth $373M
Elon Musk’s SpaceX Liquidates Entire $373,000,000 Bitcoin Stash

This is why i dont really trust up technicals most of the time specially that news something similar or like this could pop out just like in a blink of an eye.
Feel sorry for those who had made out some long positions for sure they had been liquidated.

Topic: what a surprise dip - page 6. (Read 741 times)