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Topic: What is just happened on the Bitcoin Market? (Read 572 times)

full member
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February 26, 2024, 02:35:16 PM
#88
Another new price just surface now in the market that is making hodlers to believe that this year will be full of bull run because, the price has hit $53k and the green light is still displaying which it can cause the bull run to reach $60k which is many hodlers target before they can sell.

 Based on the information I gathered this morning from the BTC experts, show that the price of BTC will reach $100k before the end of this year and, we have seen what is happening in this month of february which is the evidence of what will happen in the future.
sr. member
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February 18, 2024, 05:37:45 AM
#87
I think that's not the only reason that many people should look at it because over time a Bitcoin ETF has also been approved and the effect on Bitcoin itself has also been quite obvious to date. You can see how the price increases and corrections that arise in Bitcoin at this time are quite clear evidence that Bitcoin is always easier to get improvements in the market. Meanwhile, altcoins are just assets that follow market trends and flows, which basically don't need to be relied on as much as most people who rely on Bitcoin completely.

When Bitcoin ETF got approved it didn't affect the price of Bitcoin instantly but the price was falling and it was because many people have already bought ahead of the news of the event then they started taking profits after the news got announced which cause the price of Bitcoin to fall but the price of Bitcoin after some days has been rising to the price of more than $50,000. News has impact on the market because the market is a very speculative market filled with alot of amateurs that don't understand market but are only making decisions based on what the news is saying. When there's a bearish news they react in a bearish way and if Bitcoin is bearish, the whole market gets bearish and this is how Bitcoin affects altcoins.
hero member
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February 17, 2024, 05:57:21 PM
#86
I don't think we have to keep wondering every day what is happening in the market because whether we like it or not, it has been behaving this way since before. We experienced an uptrend today and in the next couple of days, it possibly be a downtrend as well.

We just think about the volatility of the market and make ourselves aware of the situation that Bitcoin is so popular now that the government hates it. We are not just talking about the SEC but so many factors affecting the price of Bitcoin. However, Bitcoin had already established strong support for the community which keeps the price high. Yes, it dumps but it recovers.
legendary
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February 17, 2024, 04:46:10 PM
#85
I think Bitcoin will be affected by the news, while altcoins will be more seriously affected. The thing to pay attention to is that when Bitcoin experiences problems, altcoins will experience more problems.
So our eyes must always pay attention to the market.
of course the news of Bitcoin ETF's rejection was the main cause.
I think that's not the only reason that many people should look at it because over time a Bitcoin ETF has also been approved and the effect on Bitcoin itself has also been quite obvious to date. You can see how the price increases and corrections that arise in Bitcoin at this time are quite clear evidence that Bitcoin is always easier to get improvements in the market. Meanwhile, altcoins are just assets that follow market trends and flows, which basically don't need to be relied on as much as most people who rely on Bitcoin completely.

I understand your point and am not surprised why altcoin tend to be affected by bitcoin price changes. Bullish Bitcoin indicates the market will be bullish, followed by the altcoin market and vice versa. Bitcoin ETFs can obviously influence the market, money flowing in and out will have an impact on bitcoin's market capitalization. You can get facts based on data, this is something that has a correlation.

By the way, bitcoin is testing the $52k resistance again after a correction a few hours ago. The $51k support seems safe until today's market close, but I'm not really sure $52k will be held until the change of date.
hero member
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February 17, 2024, 12:57:24 PM
#84
I think Bitcoin will be affected by the news, while altcoins will be more seriously affected. The thing to pay attention to is that when Bitcoin experiences problems, altcoins will experience more problems.
So our eyes must always pay attention to the market.
of course the news of Bitcoin ETF's rejection was the main cause.
I think that's not the only reason that many people should look at it because over time a Bitcoin ETF has also been approved and the effect on Bitcoin itself has also been quite obvious to date. You can see how the price increases and corrections that arise in Bitcoin at this time are quite clear evidence that Bitcoin is always easier to get improvements in the market. Meanwhile, altcoins are just assets that follow market trends and flows, which basically don't need to be relied on as much as most people who rely on Bitcoin completely.
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February 17, 2024, 04:17:35 AM
#83
I think Bitcoin will be affected by the news, while altcoins will be more seriously affected. The thing to pay attention to is that when Bitcoin experiences problems, altcoins will experience more problems.
So our eyes must always pay attention to the market.
of course the news of Bitcoin ETF's rejection was the main cause.
Bitcoin will certainly always be influenced by news that appears in all media, especially social media, if there is news that is directly connected to developments in banking and the world economy. Likewise with the news about ETF, of course, but now ETFs have been approved and have had a positive impact on Bitcoin. Apart from the ETF itself, in just a few days it has earned so much Bitcoin, and this will continue; of course, it will have a good impact.I think you are right. If there is news that affects Bitcoin, it is certain that altcoins will also be affected, even more so than Bitcoin itself.It is indeed an unwritten but real law in crypto that Bitcoin is the king of crypto and will always make a good or bad contribution to other coins.
sr. member
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Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.
We're just overly reactive about what's happening to bitcoin, the current movement of the price happens all the time but at smaller amounts so we don't care about that too much for a good reason and that is because bitcoin has always been volatile and it's only only continue to be like that until the end of time, it's nothing to be scared about because that would mean that bitcoin is doing fine and that it's going to go up in prices like it used to so to the people that's still panicking, don't do it and just stay put, distract yourself with things that's going to help you improve yourself and distract you from constantly changing bitcoin price.
sr. member
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I think Bitcoin will be affected by the news, while altcoins will be more seriously affected. The thing to pay attention to is that when Bitcoin experiences problems, altcoins will experience more problems.
So our eyes must always pay attention to the market.
of course the news of Bitcoin ETF's rejection was the main cause.
hero member
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Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.

You need to understand that the initial controversy about the SEC ETF Twitter account being hacked before the approval of the spot Bitcoin ETFs was one of the reasons why there hasn't been a fast rise in the price of Bitcoin and to me; I see it that the United States SEC did it on purpose because had it been they just blown it to air and the price records a significant rise I believe most investors would have been so desperate to sell off their coin at that high price thereby the price may also start dipping.

The fluctuations in the price of Bitcoin even before ETF approval was obvious but it isn't gonna stay longer before the price will start to skyrocket again so all what we ought to do now is to be patient and hodl the coins we have in our portfolio, if possible acquire more now that the price is dipping because there's actually gonna be a huge increase in the price of Bitcoin after the halving.

Yes there are still lot of confusion as people were expecting for a massive pump post SEC's approval of ETF but we have definitely seen pump and fluctuation but not at the scale at which people were expecting which may populate some doubt of insecurity in people's mind leading to a negative thought about a possible correction but we need to stay calm and shouldn't make any decision in hassle as I have seen people selling off when BTC hit back $40K but it only pumped back from that number. It's time to be more cautious than ever and avoid fuds.
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
Recently there have been so much of news around the movement of Bitcoin and other activities around Bitcoin and this has all contributed a lot to the current movements seen in the market so it's either of all of the above which you have mentioned, but then after all these events been anticipated around Bitcoin must have taken place, definitely Bitcoin will maintain some stability around a certain price range . I'd you would want to get in on Bitcoin now envisage more of a bullish movement, and wait for good entries so you will be able to make good profit from the next market movement.

sr. member
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Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.

You need to understand that the initial controversy about the SEC ETF Twitter account being hacked before the approval of the spot Bitcoin ETFs was one of the reasons why there hasn't been a fast rise in the price of Bitcoin and to me; I see it that the United States SEC did it on purpose because had it been they just blown it to air and the price records a significant rise I believe most investors would have been so desperate to sell off their coin at that high price thereby the price may also start dipping.

The fluctuations in the price of Bitcoin even before ETF approval was obvious but it isn't gonna stay longer before the price will start to skyrocket again so all what we ought to do now is to be patient and hodl the coins we have in our portfolio, if possible acquire more now that the price is dipping because there's actually gonna be a huge increase in the price of Bitcoin after the halving.
sr. member
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Until now, the Bitcoin ETF issue is still the main factor, Bitcoin being very aggressive, one day it can fall up to 8%, then the next day it has risen again.
This can make people panic a bit.
legendary
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Speculation is what is happening at all times, it is not really a new idea and I think it should not be really used as a big deal, we just need to make sure that we are dealing with something that has to be fine, and we are about there give or take. I get that it is not really easy to handle all these ups and downs for many people, but that just doesn't mean that we are going to end up with anything big or small.

I hope that we could end up with something that has to be all that great, it just means that we are going to end up with a bigger issue. I hope that people could realize that volatility is just a natural part of the deal, and that should not be all that crazy, we just need to realize it is not that much of a big deal.
hero member
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Which one could be reason of such movement?
These momentary dips that don't last a day or two shouldn't be anything anyone will worry their head on. It's normal. Investors take profit from time to time. It's not a big deal. Many of us who hodl a sizeable proportion of various alts also do what Bitcoin whales do. So, we should know the game and not feel shocked when such happens. For me, I think it's neither of all the factors you listed that caused that dip. Ok, now that it's back to $46k+ what do we attribute it to? Truth is that if there's manipulation, the evidence is a huge dump and not the momentary $2k-$3k dip.

I don't see a dip though, prices goes to $46k right now due to this news about approval of Bitcoin Spot ETF. But if we talk about the earlier dip from $45k then to $42k, it is speculated that there could be entities manipulating the price and obviously making millions again.

But that is just pure speculation as we don't know if there are whales willing to do that or can actually move the price as the market grows big already. But in any case, we bounce back again, showing resiliency as we are inching about a news of approval in the next coming days pushing the price to $46k-$47k or even higher if it is indeed a very positive news next week.
legendary
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But, the price hardly gain an amount for us to say that it was only a correction that happened lately. I am sorry but I think can believe more to those reasons the @OP had listed. It's only nice to see that we are still seeing a quick recovery despite of it. There is no real pump yet that occurred in Bitcoin but the highest pump achieved in the crypto market was from Solana. If you only said that Solana hodlers are dumping their coins, then that is more believable. And why will the Bitcoin hodlers sell when they are also aware that the halving is now close? They can just buy more in fact and wait a little more, in order to gain a massive profit.
Real pump of Bitcoin or not we just need to see how Bitcoin moves. The Solana hype is great, but the hype about a Bitcoin ETF will be even greater. We are still waiting for the spot ETF announcement next month and that will be the next Bitcoin bullish determinant. Now there is a correction but it is still quite normal and whoever can survive will get back their profits because Bitcoin will continue to a new ATH.
ETF seems to be a great hype I agree with that, but it could be for nothing as well and that does scare me a bit. As you can see, we bottomed at 15k and went to near 45k levels without ETF, but the potential of it was always there, if it gets rejected then we are going to see a big drop in the price or there is a possibility of it. That is the part that scares me the most and I do not think that I really want to see that happening at any given moment.

I believe that the best thing we could do at this moment would be just letting it be a bit more calmed down and just hope that the price stays as good as it gets. If we can get the ETF that is lovely, I would love to see that, but that doesn't mean that we should be tied to it.

I disagree on this, we should not deny that the recent recovery and increase in bitcoin price is not related to ETF news. Although we still don't have the final result on whether the SEC will approve an ETF or not, in the past 2 months, positive news about ETFs has been the main reason for bitcoin's price increase and we should not deny that. Whether there are ETFs or not, bitcoin will continue to grow and develop stronger, but I have to admit that the ETF is a pretty good catalyst for bitcoin's growth.
legendary
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Which one could be reason of such movement?
These momentary dips that don't last a day or two shouldn't be anything anyone will worry their head on. It's normal. Investors take profit from time to time. It's not a big deal. Many of us who hodl a sizeable proportion of various alts also do what Bitcoin whales do. So, we should know the game and not feel shocked when such happens. For me, I think it's neither of all the factors you listed that caused that dip. Ok, now that it's back to $46k+ what do we attribute it to? Truth is that if there's manipulation, the evidence is a huge dump and not the momentary $2k-$3k dip.
hero member
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Their is always speculation concerning bitcoin, whenever Bitcoin is approaching to good heights of price, the thing is that the price of bitcoin always approach high and low and what's makes the price to increase to such is because of the demands and when the demands is higher than the supply the price rise up unexpectedly, so the price is not stable and it may rise today and tomorrow it may fall that's the nature of cryptocurrency especially bitcoin

There is indeed always speculation because bitcoin is a highly speculative asset, without it we may not be able to see it's volatility. So yeah all is natural and the market is healthy when we see huge pumps and dumps, there's nothing much to worry about.
Also, these speculations were a product of technical and fundamental analysis. If there is a sudden noticeable movement in bitcoin's price, it will always have a corresponding news or some speculative reason as to why the market sentiments suddenly shifts. Understanding the market is quite complicated and you might need several tools to be up to date with the latest forecast.
legendary
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-snip-
The ETF decision is only a reference, like it or not we have to wait for it and the effect on the ETF decision will affect the price of bitcoin. even though it is not bound, this will have quite fatal short-term effects if it is always postponed, let alone rejected. But we'll see how ETFs react over the next month. Wishing all the best for Bitcoin.
Righ now - the price of bitcoin has crossed $47K, this is one of the possible reasons the ETF will be approved. I stick to my main stance – hold bitcoin longer and follow the process until you get a worth it return afterward. If the SEC delays the bitcoin ETF announcement, this will cause a correction - but this will only be short-term before the market recovers. The fundamentals are too strong to expect this positive sentiment to continue - so be patient and hang in there.

I'm also waiting for a decision - but whatever it is, basically it won't influence me to sell bitcoin as soon as possible. Day traders can take advantage of this momentum to gain profits - while holders have to stay longer with their respective targets.
legendary
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ETF seems to be a great hype I agree with that, but it could be for nothing as well and that does scare me a bit. As you can see, we bottomed at 15k and went to near 45k levels without ETF, but the potential of it was always there, if it gets rejected then we are going to see a big drop in the price or there is a possibility of it. That is the part that scares me the most and I do not think that I really want to see that happening at any given moment.

I believe that the best thing we could do at this moment would be just letting it be a bit more calmed down and just hope that the price stays as good as it gets. If we can get the ETF that is lovely, I would love to see that, but that doesn't mean that we should be tied to it.
The ETF decision is only a reference, like it or not we have to wait for it and the effect on the ETF decision will affect the price of bitcoin. even though it is not bound, this will have quite fatal short-term effects if it is always postponed, let alone rejected. But we'll see how ETFs react over the next month. Wishing all the best for Bitcoin.
legendary
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But, the price hardly gain an amount for us to say that it was only a correction that happened lately. I am sorry but I think can believe more to those reasons the @OP had listed. It's only nice to see that we are still seeing a quick recovery despite of it. There is no real pump yet that occurred in Bitcoin but the highest pump achieved in the crypto market was from Solana. If you only said that Solana hodlers are dumping their coins, then that is more believable. And why will the Bitcoin hodlers sell when they are also aware that the halving is now close? They can just buy more in fact and wait a little more, in order to gain a massive profit.
Real pump of Bitcoin or not we just need to see how Bitcoin moves. The Solana hype is great, but the hype about a Bitcoin ETF will be even greater. We are still waiting for the spot ETF announcement next month and that will be the next Bitcoin bullish determinant. Now there is a correction but it is still quite normal and whoever can survive will get back their profits because Bitcoin will continue to a new ATH.
ETF seems to be a great hype I agree with that, but it could be for nothing as well and that does scare me a bit. As you can see, we bottomed at 15k and went to near 45k levels without ETF, but the potential of it was always there, if it gets rejected then we are going to see a big drop in the price or there is a possibility of it. That is the part that scares me the most and I do not think that I really want to see that happening at any given moment.

I believe that the best thing we could do at this moment would be just letting it be a bit more calmed down and just hope that the price stays as good as it gets. If we can get the ETF that is lovely, I would love to see that, but that doesn't mean that we should be tied to it.
hero member
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Today the price of bitcoin has dropped slightly. but the price of altcoins has dropped a lot aka crash. those who buy altcoins are dizzy only bitcoin has dropped slightly. I hope the price stabilizes first so that the price of altcoins does not fall deeper.
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Their is always speculation concerning bitcoin, whenever Bitcoin is approaching to good heights of price, the thing is that the price of bitcoin always approach high and low and what's makes the price to increase to such is because of the demands and when the demands is higher than the supply the price rise up unexpectedly, so the price is not stable and it may rise today and tomorrow it may fall that's the nature of cryptocurrency especially bitcoin
hero member
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Panic in the face of every condition is not necessary, because another bear may not come at a moment like now, and you yourself have also seen that currently there are more frequent increases than prolonged declines in prices. So the bear will not have the potential to come immediately, except for a short correction to make a bigger jump to the top level in the market.
Even this sudden price decline has forced many traders to panic sell and liquidated high leverage positions. So here Bull has filled their bag more. The market momentum was positive for so long that everyone's expectations were increasing and bulls took advantage of this situation as a result of negative news.

The sudden dump created a lot of fear in the market which caused many traders to lose their patience, but the market quickly started to recover from the lower price. So I think the bears are not yet strong enough to take control of the market which is why the market is still trying to turn positive.
legendary
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Yeah hard to say. I also googles right after the drop happened but first I didn't really find anything.
Then I saw there have have been some twitter posts of some influential people spreading fear of ETF rejection and so on.

It was all good and then within minutes this 10% drop.
But we all are used to it, that's nothing new to the crypto community.
Whatever pushes or pulls the price is always a mystery for me, as usual.

Wealthy people have many piles of different wealth.

Lets take a imaginary guy with 25 billion in wealth.

He has 40,000 btc which is 1.6 to 1.8 billion dollars.

he knows the ETF is coming next week.

he feels no ETF will dump btc to 30k

so he sells ½ his btc drops price to 40k with that sale.

It is a new year and tax laws vary a lot country to country. He may not need to pay any tax on it until dec 2024.

He is liquid cash of maybe 800 million. He can hold it for next deal.
and if no ETF happens dropping price to 30k he can get more btc not worrying about any tax issue until december.

and remember he kept ½ of his btc so if ETF comes in and btc goes to 75k he has the other 20,000 btc.


also remember we are talking about a guy worth 25 billion he has lots more wealth on the side.
legendary
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don't worry, it looks like bitcoin will recover to $45K in the near future.
Considering it is nearly at 44k again, you could see that all those FUD people were wrong, as always. I mean this is such a simple thing, and we need to just realize that it's been happening for so many times in a row right now, so it shouldn't really be something that we should care about. I get that we are going to end up with a situation where it snot going to be all that simple, but it's really not that complicated.

The price will go up, it is nearing halving, so for the next 1.5 years it will go up, that is just as simple as that, there will be tiny drops like this, but overall it will go up and we just need to realize that is the reality and that's it. I get that we may not end up with something that could change the world, but we just need to accept that as reality.
According to CMC, it has peaked at 45.9k at second of January, I agree that dropping to under 41k levels a day later may have scared some people, but also it peaked over 44k just a day later as well. That is why we call bitcoin volatile, there is a reason for that and I think it should be important to be aware of that.

I am not saying that it is going to be all that easy to handle it, all I am saying is that we are going to end up with something that should matter to us all the time. I get that it is not that easy, and I get that it may feel a bit off, like when you see it at 45k and then 40k, I get the "fear", but that is just volatility. Let the bitcoin world act all up and down, the long term will always be up in the end.
hero member
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The answer is always there regardless of the effect of immediacy given recent times;  "The news of...", obviously the comments about the ETFs, bring flavor, but they are short-lived, where are we after a year, January 2023 the minimum price +$16k.

So, don't worry, just hold or buy is easy, and for more, look at the history.
What you narrated made me suspect that you are lucky to buy Bitcoin at a very low price. But many are not so lucky, which is why they will continue to be scared. By what happened in the past when halving was approaching as we are now, the coin has never behaved the way it behaved where some bullish impacts would be felt for months as if the bull run season had come. This has pushed the price of Bitcoin higher already, so those who bought it at a higher price are now worried. Well, as it is now, you might be calmer than them since you have the advantage, yet they should be calm as well or liquidate their position until they see a reason to buy it again. My concern is that Bitcoin may have a strong fall over time before it will stabilize and move higher afterwards. This could be a serious concern for those who are not so lucky to buy it at a very low price as well.
legendary
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It's difficult to find the real answer behind the fluctuation of the Bitcoin market, we can speculate all we want but we won't find the exact answer.
IMO, it's just a normal movement from whales trying to dump and purchasing back. Playing with the market to accumulate more Bitcoin so that they will be ready when the full swing starts. Expect more of this to happen before the Bitcoin ETF approval. There are so many articles coming out about the "what ifs" of the decline of the SEC or prolonging the battle by not letting the approval happen as early as possible.
All of this could make the Bitcoin market react as all eyes are on the movement of Bitcoin as we get near a possible swing up that would create a new ATH.
What we can do now is just be ready as always, monitoring the market on how it will behave because these are crucial times that might write an unforgettable history for Bitcoin.
hero member
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Probably lack of support for a price above 45K, which leads to many traders selling BTC at 45K and cashing in the profits. This leads to a wave to automatic stop loss orders, which pushed the price down.
This Matrixport Report has been pointed as a big FUD factors in the last few days, but I don't believe it. How can the creators of the report know about the SEC rejecting the Bitcoin Spot ETF before there's an actual decision? Does someone have insider information about the SEC decision?
Anyway, the price pump from 30K to 45K was clearly caused by the anticipation of a Bitcoin Spot ETF approval. If the ETF gets rejected, I think that the BTC price will get down to 30K(which isn't necessarily bad). I expect the real bull run to begin several months after the 2024 BTC halving.
hero member
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

I don't think there will be a rejection but SEC can ask for more time and ETF will be approved somewhere in Q2 as predicted in that research article. More delay will also cause panic and there will be a major crash right after the news comes out. If they approve the bitcoin ETF this week then there can be some other plan to crash the market so that they can accumulate bitcoin at a reasonable price. I don't think there is enough bitcoin in the market at the current price to fully fill all these asset managers bags.
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Don't be panic, just continue hodling your BTC because this are some of the signs you will be seeing in this season that will make you to have confidence in your hodling that bull run is very close for hodlers to smile again. I noticed such move in the market in few hours but the price have started increasing back to $45k and it has gotten to $44k which it can be possible for the price to reach $50k for some hodlers to start selling their BTC to make profits that will make them to buy when another bear run come.
Panic in the face of every condition is not necessary, because another bear may not come at a moment like now, and you yourself have also seen that currently there are more frequent increases than prolonged declines in prices. So the bear will not have the potential to come immediately, except for a short correction to make a bigger jump to the top level in the market.

Quote
I will not advise you to buy now, but is good to continue hodling the ones you bought when the price was low in the market and it will give you a good profits if you can endure till the bull run become mature in the market.
Buying now is still good and not too bad to do, although maintaining what you have bought is also very good, because by continuing to buy you will at least increase your existing portfolio. I think buying in the current conditions is still not too late if the prediction is that Bitcoin could go to $50K at the beginning of this year, and that is also part of taking advantage of conditions that are improving like now.
sr. member
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This could cause a big scare for investors because it's suppose to be more than what we're seeing, talking about the market price. With the high expectations many people had as of last year that Bitcoin will get to $50k before end of December 2023 and we're having it struggling to surpass $45k till this very moment and is even getting worse to see it at $42-43k as of last 3-4 days. It seems like our expectations are not going to be as we wanted it to be, the market price have something different to offer this year, who knows it might drag us back to $30k before the end of this month.
full member
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Don't be panic, just continue hodling your BTC because this are some of the signs you will be seeing in this season that will make you to have confidence in your hodling that bull run is very close for hodlers to smile again. I noticed such move in the market in few hours but the price have started increasing back to $45k and it has gotten to $44k which it can be possible for the price to reach $50k for some hodlers to start selling their BTC to make profits that will make them to buy when another bear run come.

I will not advise you to buy now, but is good to continue hodling the ones you bought when the price was low in the market and it will give you a good profits if you can endure till the bull run become mature in the market.
legendary
Activity: 2338
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But, the price hardly gain an amount for us to say that it was only a correction that happened lately. I am sorry but I think can believe more to those reasons the @OP had listed. It's only nice to see that we are still seeing a quick recovery despite of it. There is no real pump yet that occurred in Bitcoin but the highest pump achieved in the crypto market was from Solana. If you only said that Solana hodlers are dumping their coins, then that is more believable. And why will the Bitcoin hodlers sell when they are also aware that the halving is now close? They can just buy more in fact and wait a little more, in order to gain a massive profit.
Real pump of Bitcoin or not we just need to see how Bitcoin moves. The Solana hype is great, but the hype about a Bitcoin ETF will be even greater. We are still waiting for the spot ETF announcement next month and that will be the next Bitcoin bullish determinant. Now there is a correction but it is still quite normal and whoever can survive will get back their profits because Bitcoin will continue to a new ATH.
hero member
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www.Crypto.Games: Multiple coins, multiple games
don't worry, it looks like bitcoin will recover to $45K in the near future.
Considering it is nearly at 44k again, you could see that all those FUD people were wrong, as always. I mean this is such a simple thing, and we need to just realize that it's been happening for so many times in a row right now, so it shouldn't really be something that we should care about. I get that we are going to end up with a situation where it snot going to be all that simple, but it's really not that complicated.

The price will go up, it is nearing halving, so for the next 1.5 years it will go up, that is just as simple as that, there will be tiny drops like this, but overall it will go up and we just need to realize that is the reality and that's it. I get that we may not end up with something that could change the world, but we just need to accept that as reality.
legendary
Activity: 2772
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Dont you worry mate because it seems that we only have corrections here mate look at
the market today https://coinmarketcap.com/currencies/bitcoin/ bitcoin had developed recovery as
how fast it drops so I think not about those mentioned reason but instead the holders have just sell
their Holdings about the market pumps.
But, the price hardly gain an amount for us to say that it was only a correction that happened lately. I am sorry but I think can believe more to those reasons the @OP had listed. It's only nice to see that we are still seeing a quick recovery despite of it. There is no real pump yet that occurred in Bitcoin but the highest pump achieved in the crypto market was from Solana. If you only said that Solana hodlers are dumping their coins, then that is more believable. And why will the Bitcoin hodlers sell when they are also aware that the halving is now close? They can just buy more in fact and wait a little more, in order to gain a massive profit.
sr. member
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HODL - BTC
Of course, the exact reason for the rejection of ETFs by the SEC may often be attributed to when there is news saying ETFs are rejected then the market immediately reacts, then when Jim Cramer says something about bitcoin then it will happen the opposite.

I am not sure what Matrixport is predicting in the midst of the ETF rejection, but anything can happen because this is their influence and there could be a possibility of a decline because behind it all they seem to manipulate the market that is rising to $45K.

But don't worry, it looks like bitcoin will recover to $45K in the near future.

I remember the words from X.com like this:
If the ETF is approved then the price will go up.
If the ETF is rejected, then we buy again.


This saying says don't panic too much guys. Cheesy
copper member
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I guess due to the miners and traders this happened for which Bitcoins fell 5k usd in price in few hours. But I would say this is completely normal. I mean this definitely gave us a hint that this year will be big, but I am happy with the price corrections. We can treat this positively, as this is another opportunity to buy Bitcoins for 4k usd price less. So don’t worry about much and accumulate as many coins as you can in this price segment. I promise you won’t regret.
full member
Activity: 2576
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
Dont you worry mate because it seems that we only have corrections here mate look at
the market today https://coinmarketcap.com/currencies/bitcoin/ bitcoin had developed recovery as
how fast it drops so I think not about those mentioned reason but instead the holders have just sell
their Holdings about the market pumps.
hero member
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Leading Crypto Sports Betting & Casino Platform
To be honest, nothing serious caused such a huge impact on the market yesterday, it was just the market mood that caused that. The mood was aggravated by the fear that ETF proposals could be rejected. This is not new and the reasons alone can't actualise what happened since similar ones had happened with nothing like this happening, but the market is funny at times, it will just start like a play and before you know it more withdrawal of liquidity suddenly will make it happen, and it could be scary.

Specifically, among all that you have listed, the only viable cause that I suspect is the SEC's possible rejection. The rejection headlines have been getting too much, and just as it helped the buying when the expectation for the approval was much late last year, the same will happen when the rejection rumour is getting much. I expect more if this persists as we get closer to the 10th of January. This might have caused damages even before the time. Yet, even if the SEC eventually reject the proposals, I do not expect the market to be affected so badly by it. It will fall drastically for some moment but it will quickly stabilize due to halving expectations.
hero member
Activity: 1526
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This is an obvious attempt at market manipulation for their benefit. Here is what the Matrixport scam posted yesterday:

* Bitcoin Spot ETF approval imminent, BTC to jump to $50,000


Well, at least now if bitcoin ETF gets approved they'll be able to say "we've told you so" and if it doesn't they'll do the same. Tongue

Most likely they have multiple authors and don't verify what these authors write. First they published a report by 1 researcher who was positive and then another by someone who was negative. They should really pay attention to what is posted on their site because it makes the company look unprofessional when they can't even work out a general attitude towards a subject.

And I  think that's what happen right now, I mean with this kind of news, the market pushed the price to more than $45k. But after that, when the news was verified by bitcoin enthusiast, maybe they think this is just another manipulation early this year, the price sink to where we started or end 2023, at $42k.

So I think there is some entities who take advantage of this kind of news again. As for the article, this has been the nature of crypto journalism, news is not confirmed or verified by the author. And so we should know how to read between the lines so that we won't fall for fake news or not so true articles.
legendary
Activity: 3052
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People should realize this on which it cant be called a market if it would really be just having a single path or movement to take but there are really those people who are really expecting that it would really be just simply moving up and they would make money so easily. Well, only newbies or those new people would really be just having that kind of belief into their minds until that reality would be slapping out into their faces.
We do know that this market is really that unpredictable, i do agree into those points been said that manipulation is something that evident or pretty obvious. Market could dump out on -10% or even -20% in a flash
on which it is neither been caused by some FUD or really just totally having no reason at all.

This is why on the time that those flash dumps happen then tons of people would be shaken off and making those panic selling into their current positions which it do leads into that
buy high sell low thing and this is where it would be resulting into negative and when it comes worst then they have that blown out trading account or investment.
Be realistic and be wary on how this market behaves or moves so that you wont really be getting shocked on the time you do encounter it.
Unfortunately there are market movements at times when it's really not that great, and I understand that and it's sad but the reality that we are living in, nothing we can change about that. I understand the whole point is to make sure that we are doing our very best, but we just have to realize that market sometimes does stuff that you can't prevent and you just need to endure it.

If you can endure years and years, even decade long these crazy movements without selling or losing all your money, and just hold long term then you could make the most amount of money you could make from any investment ever. I personally believe that it is not going to be all that easy, but if we could make it work, then we should be feeling fine about it.
hero member
Activity: 1428
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

Which one could be reason of such movement?
It really was a fast change in the price movements, and the correction was also swift in BTC but alts are still bleeding, the scene was just awesome as all of my whitelisted tokens were changing numbers like a spinner  Tongue even if I was at a loss I tried to book in lose in the hope of taking entries in tokens that could give me more returns but was unable to do so as the market was so quick that it did not give me enough time to think and make some decision and then act upon it.

Maybe the market was not that fast but I might be late too. In my opinion, the main reason is just fud being created by this matrixport, because even if the ETFs got rejected BTC still has enough potential to make a new all-time high without any problem. But it will dishearten and dash the hopes of everyone. Many newbies have invested in cryptocurrency and wanted to make a profit in the bull run but they are not used to such fud and FOMOs.

So they might be afraid of the current situation and might be thinking that BTC will never make it to ATH, for them I have one suggestion that, trust BTC and its potential it is beyond the ETFs.
legendary
Activity: 2814
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This is an obvious attempt at market manipulation for their benefit. Here is what the Matrixport scam posted yesterday:

* Bitcoin Spot ETF approval imminent, BTC to jump to $50,000


Well, at least now if bitcoin ETF gets approved they'll be able to say "we've told you so" and if it doesn't they'll do the same. Tongue

Most likely they have multiple authors and don't verify what these authors write. First they published a report by 1 researcher who was positive and then another by someone who was negative. They should really pay attention to what is posted on their site because it makes the company look unprofessional when they can't even work out a general attitude towards a subject.

full member
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

This is an obvious attempt at market manipulation for their benefit. Here is what the Matrixport scam posted yesterday:

* Bitcoin Spot ETF approval imminent, BTC to jump to $50,000
hero member
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Just hold, halving will occur in some months.


There are lots of people who are already holding their bitcoin because as you have said that bitcoin halving is going to happen soon. I don't think it's going to be long term because it happened because of some reason like the spot etf. As the others and also you have said "just hold" and "just buy" would be a good choice to make in this current situation. Even in the future, there's always a price drop and price increase. Even the price increase where it suddenly reach it's new all time high price which for me is unexpected.
legendary
Activity: 2814
Merit: 1192
This is the reason for the dump.

No, that's not the reason. The reason is too many levered longs.

That Matrix report is a joke and some guys from Bloomberg have already addressed it saying that there's no negative info coming from the SEC. In fac the whole article was speculation with no proof. I've seen a tweet by ETF market analyst at Bloomberg who asked the author to show any proof that there's going to be a rejection because they've contacted the SEC today and got the answer that they're still reviewing everything and there's been no decision.

Another thing I'd like to add is that it was nothing when you compare it to the normal bull market corrections. In 2017 there was a number of 20% corrections on the way from 1k to 20k and this was close to 10%. It's like a tease when compared to what's coming because corrections are coming if we are to break 100k this year.
legendary
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The answer is always there regardless of the effect of immediacy given recent times;  "The news of...", obviously the comments about the ETFs, bring flavor, but they are short-lived, where are we after a year, January 2023 the minimum price +$16k.

So, don't worry, just hold or buy is easy, and for more, look at the history.
sr. member
Activity: 490
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are
Which one could be reason of such movement?

Immediately I saw that bitcoin crash, the first thing that came to my mind was "seems they rejected ETF". I went to Watcher Guru for update and I didn't see anything, I went to cointelehraph, I didn't see any credible news that report a credible news about the crash, even the speculated one they said miners deposits in the exchange wasn't comprehensive enough because I couldn't find the attached transaction evidence or any analytical report a pit the bitcoin movements from their wallet to exchange, there is more to what we don't know and I'm very sure it's about ETF, something is really faltering somewhere.

SEC knows that if they approved this ETF, it's a going to give them good run for investors money and it will look like a manipulative market which I think SEC will not allow shorter to be liquidated. What I think they are going to do is that they will watch the market for now and approve when they think it's right and for the miners, I don't think ttey will be selling their bags right now, they understand this game of markets way better than anyone including the institutional investors.
hero member
Activity: 1414
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
I think there is could be only one reason for such a movement, which is Bitcoin Spot ETF approval. Despite this, there are totally just a rumors that on January 2 January will be approval of Bitcoin Spot ETF which rose so much because of the tweet of Galaxy CEO and Bitcoin Spot ETF applicant, which created a suspense to spread the fud among the people that Big things are coming in the new year which can also be seen in the tweet, and after that people got excited and started Buying. At the end whales overturned the market and grabbed the remaining raw Bitcoins. This is always a trick of Wales that spreads some fake news in the market and creats some panic to collect the remaining Bitcoin. And I knew this rise was a trap of the market manipulator, they spread some fake news, Bitcoin did a correction, and suddenly the manipulator brought a dump.
hero member
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What is just happened on the Bitcoin Market?

Be it as it may, what happened is that there was a price drop, and it could have been caused by the few updates on the OP or could also be for just some reason that has not yet been accurately laid out. You are no longer new to the space, so you should know better by now. During the month of August last year, Bitcoin went from $30k+ to $26k, and the price drop was quite questionable, but the price swing of Bitcoin is not something that is new for a Bitcoiner unless you are a newbie. Anytime the price of Bitcoin drops, it's an opportunity to buy more, so, buy more and hold.
legendary
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Which one could be reason of such movement?

People are taking profit...   That is one of the reasons why the price of BTC went down to $40.7k from $45k and people saw that Bitcoin price gets cheaper so many bought it pushing it towards $42k again.  This kind of market movement is not new in the Bitcoin market, this is the reason why Bitcoin is labeled highly volatile because the price highly fluctuates.

I do not think the news about the opinion of Matrixport about ETF rejection is one of the reasons.  I do not think traders and investors will fall to this statement by Matrixport.
full member
Activity: 770
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As the spot ETF approval time approaches, there is a lot of excitement in the market. Any rumor can cause the market to go down. I myself have seen the market most of the time in a day where the market condition was good but suddenly in just 1 hour everything is red. At first I couldn't believe, anyway now everyone should be aware. There is likely to be more drama with ETFs. If the time increases, then you have to wait for a few more days. But as much as we will wait for the ETF, the time of Halving will be more closer. But in such a situation we should be a little calmer without taking immediate decisions. Different whalers will make different types of games with the market. So nothing to do but be careful.
hero member
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Aside from all this rumours If you had checked the Chart, technically Bitcoin was due for a major correction or cool off after we claimed the zone of 45k, not only that, there are other possible reasons too, today when I checked on the DXY chart I noticed that the price has hit an ultimate level of support and got a bounce, DXY have always had a negative correlation with Bitcoin , lastly the rumors that the Bitcoin spot ETFs may not get approved this January.
legendary
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
Well, possibly all of those news are responsible for the sharp decline in the price of bitcoin, but then, though this speculations could indeed trigger some people to want to dump their bitcoin early so they could buy it back cheaper when the SEC finally rejects or fail to approve bitcoin spot ETF on the 10th of January, I personally will still suggest we hold as still could as well be a manipulation to enable them buy bitcoin at a cheaper rates before the spot ETF finally gets approved on the 10th.

But then again, even if they are right, that the ETF fails to get approved, most likely the price of bitcoin would drop, this is not bad as it is still another opportunity given us to accumulate even more bitcoins in anticipation for the coming halving, and as well the ETF approval, for it must be surely approved within this year.
hero member
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?


​Of course, Bitcoin was in the best position,and was trading above $45k for many hours, and it didn't look like Bitcoin could suddenly fall like this. the cryptocurrency market is always heavily influenced by news, which often causes the market to crash in the same way. the account from which this news is reported is not a very famous account. there are a lot of media sources that are saying that no, nothing like that is going to happen.

There is no specific source for this account and many people may not even know about it in, but because of this news, people panicked. however, in crypto it is always people like this who create panic. we don't know who is right now, but bad news always spreads very quickly, which is why the price of Bitcoin suddenly dropped from $45k to $40.7.if this news is true then there are chances of bitcoin to fall to $36k otherwise bitcoin may go back to 45k soon.
legendary
Activity: 4424
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matrix report mentions that the etf applicants wont meet the SEC criteria. but matrixreport makes no suggestions of the SEC criteria and how it assumes the applicants are not meeting the criteria

from what i can see the SEC has been in full talks with applicants to tell them directly of the criteria needed and the applicants had until dec 29th to meet the criteria and file an update to show all criteria met.
ready for the begining of announcements to start from jan 10th
even suggestions that if the applicant was not ready to meet criteria there was no point of filing updates at the end of december as the SEC would be busy reviewing the ones that do meet the criteria that did file correctly

so in my view by them filing updates at the end of december the applicants feel they have met all of SEC's needs

if the SEC denies now then the SEC did not fully communicate its needs/criteria. which is a failure on SEC's part

i will say however that i do not believe all dozen applicants will get approved at same time. but there are some notable ones that show good confidence of meeting SEC needs as of end of december
legendary
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I don't think it was in this forum; maybe it was somewhere else, but I said yesterday that this price we are seeing is just temporary. I don't see bitcoin reaching that $45k that early in 2024; it was a surprise move, which can happen.

The thing is Matrixport already predicted that Bitcoin may drop and will touch the 36K range. The rumor of ETF rejection manipulated the entire market just in two hours. All we doing at this moment is speculation and prediction. Did the SEC reject the ETF proposals yet? Nobody knows. However, some media and social media influencers spread negativity which led to this movement.

As tranthidung pointed out below, it is not the first time ETF was proposed and it's not the first time it was rejected (even though the news of the rejection is not sure yet). But since everyone expecting ETF approval this year, people have high expectations of ETF approvals. If it gets rejected, we may see another dump. The question is, how long it may take to bounce back with the halving event coming in few months?

It is noteworthy that just yesterday they predicted something completely different.
https://www.matrixport.com/institutions/research/daily-insights/811
Looks a lot like manipulation.
hero member
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Isn't that normal? you can't expect Bitcoin price will keep increase despite bull run will happen, so small drop is fine, until Bitcoin price keep decrease everyday.

The reason miners send BTC to exchanges doesn't make sense, big amounts transfer is happen for many times, you can check it here https://t.me/s/whale_alert_io

As for Matrixport's article, they could be right or could be wrong, but it's crazy people are gambling in Bitcoin ETFs by put $10 Billion in futures.
People should realize this on which it cant be called a market if it would really be just having a single path or movement to take but there are really those people who are really expecting that it would really be just simply moving up and they would make money so easily. Well, only newbies or those new people would really be just having that kind of belief into their minds until that reality would be slapping out into their faces.
We do know that this market is really that unpredictable, i do agree into those points been said that manipulation is something that evident or pretty obvious. Market could dump out on -10% or even -20% in a flash
on which it is neither been caused by some FUD or really just totally having no reason at all.

This is why on the time that those flash dumps happen then tons of people would be shaken off and making those panic selling into their current positions which it do leads into that
buy high sell low thing and this is where it would be resulting into negative and when it comes worst then they have that blown out trading account or investment.
Be realistic and be wary on how this market behaves or moves so that you wont really be getting shocked on the time you do encounter it.
sr. member
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Reacting to news Smiley ,
yep it's really typical in the crypto market, I took a look and noticed some news about predictions that have affected the price, looking at it from a positive perspective it's still valid proves that this market is still very small in scale and susceptible to price manipulation. I believe that in the coming days, news surrounding ETFs will continue to bring about a volatile atmosphere. Looking back, after the recent news, everything is returning to normal as if nothing had happened some of the liquidation statistics on CEX make me quite laughable.
hero member
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Which one could be reason of such movement?
I believe the major reason behind the dump in the price of the market is the miners that unload BTC to exchange which is literally to sell it and this is not the first time they will do it. Besides, they did the same thing in 2016 and 2020 but one thing is sure when the dump happened some people took advantage of it. However, it is sad that in the last 4hours, $540,000,000 was liquidated from the crypto market.
About the Bitcoin spot ETF, I don't strongly believe in the rejected news because the powerful organization always brainwashes people through false news to manipulate the market and buy cheap.
I just hope you guys understand that the crypto community is now dealing with the most powerful investment companies in the world and we should not pay attention to false news like we used to or else we end up selling our bag to BlackRock, Fidelity, Galaxy, Invesco, and others.
legendary
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Isn't that normal? you can't expect Bitcoin price will keep increase despite bull run will happen, so small drop is fine, until Bitcoin price keep decrease everyday.

The reason miners send BTC to exchanges doesn't make sense, big amounts transfer is happen for many times, you can check it here https://t.me/s/whale_alert_io

As for Matrixport's article, they could be right or could be wrong, but it's crazy people are gambling in Bitcoin ETFs by put $10 Billion in futures.
hero member
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I don't think it was in this forum; maybe it was somewhere else, but I said yesterday that this price we are seeing is just temporary. I don't see bitcoin reaching that $45k that early in 2024; it was a surprise move, which can happen.

The thing is Matrixport already predicted that Bitcoin may drop and will touch the 36K range. The rumor of ETF rejection manipulated the entire market just in two hours. All we doing at this moment is speculation and prediction. Did the SEC reject the ETF proposals yet? Nobody knows. However, some media and social media influencers spread negativity which led to this movement.

As tranthidung pointed out below, it is not the first time ETF was proposed and it's not the first time it was rejected (even though the news of the rejection is not sure yet). But since everyone expecting ETF approval this year, people have high expectations of ETF approvals. If it gets rejected, we may see another dump. The question is, how long it may take to bounce back with the halving event coming in few months?
legendary
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Seems like FUD from some low quality, unreliable online news outlet. There is nothing to worry about, no reliable sources are reporting that there will be rejections. Just seems like regular market movements, let’s see what transpires over the next week.
sr. member
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Many people were looking at the market move as if the bull run had already begun, and some already predicted the next jump to be $48,000 to $50,000 before the end of the week, but now the price is dipping, which is not a surprise to me. Before the end of the day, we might even see it at $39,000 or below, but that's also going to be temporary as it will take a revert, but in a gradual process this time.

People predicting the rise of bitcoin price where actual doing it on the cause that the bitcoin ETF will be approved as such many people bought for a short time since it was believed that an approval would cause the bitcoin to do a mini bull run but Due to FOMO which we have already been seeing by the fake news of its approval getting the price to pump. Now a denial or postponement is rumored it is not a big surprise that we hit such dip in few hours time. If the news even comes out true self then the price will break the $40000 mark and will be in fluctuation throughout this month. It’s time to accumulate more before the real bull run arrives though
Ucy
sr. member
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Compare rates on different exchanges & swap.
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are......


It was responding to something else which can be found in this forum.
Anyway, it's simply the bear moving backwards to gain enough energy to chase the bull down the hill. Expect to see a massive increase in number of bears in the market with too much energy for the bull to withstand.
This should have happened end of last year but we noticed other people predicting massive dip and continues uptrend... We found a middle ground and settle there for sometimes so that there will be a clear distinction and the credit goes to the ONE who deserves it alone
full member
Activity: 868
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i think too many people are spreading fud in the market so it causes the price of bitcoin to experience a slight correction. moreover, the issue of bitcoin etfs has become quite a hot topic in recent times, and negative things related to it can trigger investors to sell bitcoin and cause the market to become slightly bearish. but there is no need to panic, the price of bitcoin is still at a good level even though it is a little unstable.
legendary
Activity: 3080
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Which one could be reason of such movement?

It's not possible to single out a reason for such bleeding. There could multiple things in play. But it's usually due to negative sentiments around the market. That negative sentiments can be induced by multiple things.

When miners send bulk Bitcoins to exchanges, the general reason is to sell off the Bitcoins to recover profit. So the price is dropping significantly as the market is expecting a huge dump of Bitcoins. But that's not the only reason. The nature of crypto market is volatile so I always suggest people to not completely rely on cryptocurrency only.
hero member
Activity: 1442
Merit: 775
A convenient time for another purchase begins; those who have been waiting should take advantage of it. And yes, there is no such thing as Bitcoin going up forever; we've seen it many times, so a decline is likely. But why does everyone trust Greeks and Matrixport? When did they manage to turn into clairvoyants - analysts?
We can not trust them and previous rumor that Bitcoin Spot ETFs will be approved this year, in just few more days. All are rumors to make the market participants become greed and fearful.

Time flies so fast and time will help us to know the fact and decision of SEC. At the moment, we can not verify and be sure about anything regards to Bitcoin Spot ETFs.

The only thing we are sure is Bitcoin halving will happen in Q2 2024. Make our investment plan with halving is better and simply think that Bitcoin Spot ETF is something to happen or not this year. But don't think it is a biggest contributor for Bitcoin bull run in 2024 and 2025.
newbie
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Just hold, halving will occur in some months.

legendary
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A convenient time for another purchase begins; those who have been waiting should take advantage of it. And yes, there is no such thing as Bitcoin going up forever; we've seen it many times, so a decline is likely. But why does everyone trust Greeks and Matrixport? When did they manage to turn into clairvoyants - analysts?
sr. member
Activity: 756
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What we should know is that all these would cause only a short-term impact on Bitcoin price. As you can see it has gone back to $42k+ and it would certainly go more than that.

It may be due to market manipulation so the price can dip and they can buy it at a relatively lower price.
Also, don't be surprised all these are just so the SEC doesn't approve the Bitcoin EFT.
It's a cause to worry but it's no reason to fear.
The worry should be that Bitcoin is still not immune to manipulation and fluctuations like this. This can prevent adoption.
The "thou shall not fear" is that Bitcoin will keep growing and it will never die and that would give it more trust and make it stronger.
newbie
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What about the large influx of funds on Kraken and Binance over the past week? It looks like available selling pressure can be added to this
hero member
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It's bit scary when Bitcoin goes through such fluctuations which is absolutely normal for altcoins but I would say this was expected as there might be some dump or fluctuations and we may several such fluctuations.

As far as people with influence are spreading fuds about ETF rejection I am least bothered because they will fail and at the end of the day rejection of spot ETF doesn't define the price of Bitcoin forever hence let's not panic and if we are fearsome of ending up losing it all then have stop loses applied beyond certain limit.
hero member
Activity: 2730
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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
MARKET MANIPULATION!

And this is something which it isnt surprising or something new into this market,specially now that institutional funds are already that flowing into this market then expect those
governing bodies and other correlated sectors would really be doing their best on taking profits and doesnt matter if it would really be that on manipulative way.
We've seen these stuffs back but it do becomes more rampant as of these years where government is already that getting involved or those sectors.

Look at on the price now? It starts to recover, as if there's nothing happened. So those are the ways that they could really be able to
make easy profits with those kind of shaking off and liquidating those long positions. So its not really that something new imho.
This is why as an investor then you should really be wise on how to ride with the waves or else then it would really be taking up that huge losses
if you wont really be that making yourself that wise on every decisions you do make.

legendary
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Playbet.io - Crypto Casino and Sportsbook
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
This is exactly what is called volatility - that is, price fluctuations up and down. This happens often in the bitcoin market. Why be surprised - this is a common occurrence for bitcoin. This is what deters many from buying bitcoin and this is what is considered a disadvantage of bitcoin. But if you look from the other side, these fluctuations are precisely what allow traders to make money.

There could be any reason (or set of reasons). You probably won’t know what exactly prompted the BTC owners to sell. It could even be sales of bitcoin for holiday gift purchases. Smiley I would focus not on finding reasons, but on opportunities that can be used.
sr. member
Activity: 1666
Merit: 426
What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.
A good news for people to still be able to get more bitcoin while there's still resistance in the prices to not pump towards a new ATH. Definitely the likely reason but I like to think that they want bitcoin to not go up right now because a lot of people are still planning to accumulate even more bitcoin so they can get more profit.
hero member
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Leading Crypto Sports Betting & Casino Platform
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
FOMO is what have caused the price to dip from 45k down to 42k+ currently. You have provided good information on why the price dropped above and I still believe that it is related to SEC and the approval of spot ETF. So many institutions and investors bought last two months of the previous year because they heard rumors that SEC will approve ETF by the second week of January, but it seems that it will not be possible this month, and some weak hands are selling of their investments because they invested due to panic.

Maybe they used the money that is for something important in their lives to invest on short term but it seems that they are getting disappointed now.
hero member
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🌀 Cosmic Casino
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
I think it's about Matrixport when most traders have seen that news, they've all sold. When they've seen that Matrixport "analyst" said that ETF will likely be rejected, everyone has unloaded all of their Bitcoins from their stashes and that has contribute to become one force in a massive selling. I'd say that this is just a FUD, no one knows what's happening inside SEC and how they're conducting the process but only them and those that have applied for it. IMHO, it was an effective one as always, expect that FUD like this will come out even before and after the halving if people don't mind about the ETF but I think we'll get more of it.
legendary
Activity: 994
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Which one could be reason of such movement?
Miners moving their rewards to exchanges and the 'negative' news about BTC spot etf in the U.S. could be the reason, but it is a small correction and it isn't significant to cause any panic. I believe some people have read these news and decided to dump their coins, but it does not matter, and so many of these weak hands will buy back again very soon. People who are worried about BTC price shouldn't be, there is demand for BTC and the supply would be halved very soon, so the price is expected to pump in some months time if history repeats itself.
legendary
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Farewell o_e_l_e_o
I can say that the reason is the panic of people about these articles about saying Bitcoin ETF approvals will be possible this January.
Since it is still not true, for me, the run will continue until it is proven, that this dump of what happened is only an advertisement for this run.
Bitcoin Spot ETFs were applied for about 10 years [1] and were rejected many times. I am sorry if it will be not different this time even logically SEC messed up by approved Bitcoin Futures ETFs but don't do the same for Bitcoin Spot ETFs. The first application is in September 2013. [2]

A big correction for Bitcoin is expected to happen after it has a very green year and in monthly record, it already has 4 consecutive green months.


[1] Over 10 Years Later, the U.S. Is Finally Ready For a Bitcoin ETF
[2] Winklevoss twins file for $20 Million IPO of bitcoin trust fund
sr. member
Activity: 420
Merit: 253
What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

I have almost same perception with you because I believe lots of people were inquisitive on selling their coin as soon as the price skyrocket to $45,000 i believe that was the reason for the dip but however ,our interest should be on spot bitcoin ETF being approved as that's the only way that Bitcoin will gain recognition by standard authority and there's gonna be an increase in it's adoption and thereby will lead to a big pump of Bitcoin as against other cryptocurrencies in the bull market.
hero member
Activity: 3010
Merit: 666
What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.
Yes. The said approval might not be possible this month, so it’s like it could happen at the year end, or it might be spot bitcoin ETF approval might be denied. When that happens, it’s predicted that bitcoin price might probably experience 20% price decline and may touch bitcoin price around $36k to $38k. Well, the price decline is a lot expected by us, but we all know this won’t last for months or year.

However, instead of seeing it negatively, I think the upcoming price decline if ever it will happen will open new opportunity for newcomers to buy and invest in bitcoin. That way, when bitcoin price starts to recover, they can ride already with the price surging and skyrocketing afterwards.
legendary
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I can say that the reason is the panic of people about these articles about saying Bitcoin ETF approvals will be possible this January.
Since it is still not true, for me, the run will continue until it is proven, that this dump of what happened is only an advertisement for this run.
sr. member
Activity: 420
Merit: 376
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

When I was watching the market this morning, the price of Bitcoin was around $46,000, but when I checked the market this afternoon, I saw that the price of Bitcoin had dropped to around $41,000. But now it has increased to more than $42,000 thousand dollars.

This is the reason for the dump.

X
legendary
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Gamble responsibly
What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.
full member
Activity: 189
Merit: 120
I don't think it was in this forum; maybe it was somewhere else, but I said yesterday that this price we are seeing is just temporary. I don't see bitcoin reaching that $45k that early in 2024; it was a surprise move, which can happen.
 
Many people were looking at the market move as if the bull run had already begun, and some already predicted the next jump to be $48,000 to $50,000 before the end of the week, but now the price is dipping, which is not a surprise to me. Before the end of the day, we might even see it at $39,000 or below, but that's also going to be temporary as it will take a revert, but in a gradual process this time.
hero member
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Leading Crypto Sports Betting & Casino Platform
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Yeah hard to say. I also googles right after the drop happened but first I didn't really find anything.
Then I saw there have have been some twitter posts of some influential people spreading fear of ETF rejection and so on.

It was all good and then within minutes this 10% drop.
But we all are used to it, that's nothing new to the crypto community.
Whatever pushes or pulls the price is always a mystery for me, as usual.
hero member
Activity: 840
Merit: 522
Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?
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