Topic: What's up with the recent decline? - page 2. (Read 432 times)

Those "some" altcoins are probably shitcoins that are controlled by the developers. They can easily manipulate the price and keep the volumes up. So don't look at those.
As for the decline of other well know crypto currencies, it is because of series of "bad news" and FUDs being spread all over. People were already in fear that the price might crash. Those negative events just acted as a catalyst to cause the market to crash. And then there is China banning shits. This effect is short term. Keep holding if you invested or else you might cry later.

Technically it's as it was always, -- Buy the Bitcoin first, then create hype, accept it as payment here and there, then dump it on people then make scare them by removing it as a payment option because of price's downfall.
~~Buy Again and repeat the same cycle with some modifications to the strategy.

How easy it's to manipulate the people.

I think that a lot of people and investors have started to look at their options, since the recent news of companies like Tesla dropping bitcoin as a payment method and China banning bitcoin mining and taking some serious actions against it, and all of that is causing some panic as always that is leading to people selling, as of the other altcoins i think some of them are  centralized stable coins means that they don't get affected by anything and their userbase has no reason to dump them.

I don't think anything out of the ordinary is happening with the price now. It's been a month of the price largely below $40k but always above $30k. It goes in ups and downs all the time, jumping by a few thousands here and there, and it seems to be already recovering from the current tiny cycle. The market is struggling, and I guess there's a lot of tension between buyers and sellers now, but it's not like we're seeing the price dropping even further for now, so there shouldn't be a particular reason for the fluctuations we're observing.

Looking at the majority of the replies here on this thread which is " China's responsible "
Well, yes it's possible that China's responsible for that they don't have democracy but pure dictatorship and can change the rules on a Whim.
So you can see if that's the case then how easy it is to manipulate a market, which is China's specialty.

I recently made a thread about China linking with U.S, Where this guy "Dr.Fauchi" paid a lab in Wuhan to create Corona Virus along, there had been Email found regarding his Assistance in creating Covid-19, Along with Emails linking Bill Gates on the matter as well.

I'll post the link here if anyone wanna check it out: (Covid-19 Virus Research Criminal Found - Anthony Fauci): https://bitcointalksearch.org/topic/covid-19-virus-research-criminal-found-anthony-fauci-5342617

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China's everywhere being the bad guy but somehow doesn't get hit to break it, I somewhat believe there are People pulling Strings behind China to show China on the frontlines of being a bad nation.
But we'll always be proud of "Made in China"

There is viral on twitter china ban crypto and government start investigating high source using for personal and company mining. I think there is one of the major reasons why the price of crypto has fallen drastically in the last few weeks.

for as long as i can remember whenever bitcoin dropped all the altcoins (including ETH) got dumped a lot harder. it is because despite what some people may claim they never have any faith in the altcoins, they only thing EVERYONE has faith in is bitcoin so they always dump altcoins the first chance they get.

I'm a bit behind on the info it seems, which altcoin isn't as bad as BTC and ETH when the dump happened?  Because so far what I have seen is that if BTC drops, the overall market is red, especially altcoins that are not popular enough.  Because if you look at the market capitalization, BTC and ETH dominate around 70% so that if BTC goes down the market will also go down and vice versa, the both of coins will recover first.  CMIIW

Yes. But also, keep in mind that new mining facilities are coming online, so this decline will be overcome. And as more companies move in to the market, the prices should eventually increase.

CHINA, it is because of China again. The recent news about banning all crypto mining activities dues to a shortage of electricity supply sends a huge impact on the minds of the people making them decided to sell their cryptos. The FUD's has a bad influence on the community and can no longer stop people to dump their coins.

But I think the decline is over as the market started to grow. And for that short dumps, it emphasizes something that many were still able to keep themselves quiet and calm, and it makes the market not going deeper.

Dogecoin is not the problem nor any other coin for the matter on the drop. It is natural with the market if you have followed. The bear came in and every coin is getting the share of the fud. China could have a hand in it with the restrictions, so not just doge. Every coin including bitcoin has dropped more than 30% of its gain and you should expect the end effect on altcoins. This is actually the time to buy and not for lamentation about the price drop. If you check back in 2017/18, this kind of repeating the incident backwards.

The shut down this year is a bit different if you think about it because China seems to be much more serious than the last time that they did this ban since they are preparing for their digital currency, might as well remove the possible competition.

Almost  all crypto dump when bitcoin price drop, we can see this happening always as alts are dependent to the movement of bitcoin. And I also hope that this is the last correction to see since if we can see more of it then maybe we will wait again another 4 years (next halving) to see a good price rally brougt by this event. But I doubt the pump will happen next month so better we should watch how the market moves.

Hard to say the reason for the recent decline because that will be many reasons that can make the price down. But the last news comes from China which wants to ban bitcoin and close the mining in that country. The other reason is that people worry if the price is still going down and stay at $20k level price so they sell it without waiting for a while. But fortunately, the price can bounce after a touch below $30k and now, the price is back to $34k and hopefully, the price can increase more.

Ethereum and Dogecoin follow the downtrend and so with the other altcoins. I hope it is the last correction for the bitcoin and crypto and in the next month, the price will start to increase.

OP, you might want to move this thread to Speculation, because that's where it looks like it belongs.

This decline is kind of to be expected IMO.  Bitcoin got really hot, really quickly in 2020 and looked like it was going to $100k.  If that had happened, there's no way that price level could have been maintained for long, because it would have induced a ton of bitcoin holders to sell and take their profits in fiat.  As it stands, a lot of them did just that anyway, and I think that's why the price has dropped recently--along with a lot of altcoins, too.  

What it appears is that money is flowing out of crypto and into something else.  I'm not entirely sure what that something else is, but my best guess is the stock market or cash.  The bull market in crypto doesn't seem to be over, however.  If there was a real crash, bitcoin would be well below $32k.  Yeah, it's true that right now it's at half its ATH but it's still way higher than it has been for much of its existence, so that should tell you something--and one of the things it tells me is that now is the time to be buying and not selling.  The time for selling was between $50-60k.  Just my opinion, of course.  Bitcoin could always go lower, but I happen to think it's not going to go that much lower than where it is now.

That could be a possibility as well, since China has a huge influence on bitcoin.  It always amazes me that it does, given how tight a grip their government has over its citizenry and its currency.

The recent decline cause was China banning or shutting down mining facilities in their country. This should only affect the market in the short term while miners are looking to move towards other countries more welcoming of crypto and mining, and shouldn't affect the market in the long run. The Doge meme died already afaik, there wasn't much news about it so I guess that's what happened. This is actually an opportune moment to buy and hodl for a short term gain since the market would naturally bounce up after a few weeks after the China fud dies down.

Real reason of downtrend or uptrend cannot be obtained. But guesses are made as to the most probably cause. There have been a few negative news about crypto concerning some countries and therefore I guess the price has dumped. Whether some crazy millionaire sold off some coins, nobody can know for sure. Because you are playing something that is pseudo-anonymous and you dont want regulation, so why ask?

But understand that this is a part of the bull/bear cycle and the uptrend will soon come in before you know it, because inorganic causes of price rise happened for the last few months when a certain millionaire started tweeting about crypto and the price rose without consolidating support levels.

I view this as an opportunity to get in/buy, because the downward slope is possible but upward is also possible and when the uptrend starts you will have more than one points to sell from.

all of these declines are the whale's strategy to earn money.  especially in China, whose country is doing fud, but cryptocurrency figures from China are even showing off buying coins when they are cheap... so this is like a game.  and who is smart and has good risk management, he will win.

I suppose the Chinese FUD has a hand in this. With China banking institutions within its jurisdiction for i suppose a third time if I'm not mistaking, from having any form of transacting with bitcoin and cryptocurrencies, it has left the crypto space and market shaking a little with the correction that was being sustained at a range. Its sad but as sad as it may seem, the buying opportunity for those looking to invest is now. With most coins to hva e dropped to its 50% and even more from the reached ATH during the bullrun where most coins rallied.
After investing, the question is what's next! Your best guess is always to hodl, hodl and get ROI. Don't be focused on the negative, focus on the opportunity in the negativity and its all good.

There's no other reason but the usual FUD that has been on going for weeks but in reality it's not been just for weeks but it's been said year after year.
It's the China FUD.