yesterday's drop in prices, was it natural or man made?

lixer

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

I do understand the "why does it matter" questions nowadays. It makes a little bit more sense because we are recovering. If it was before the recovery I would say it matters as well but since we have already seen above 48k+ already, that means we are recovering. That does matter a lot for many people, recovery means that natural or man-made that drop is behind us and we should not care about it at all.

Yes, it is definitely something we couldn't do if it was one way or another, but it is here now and we should not care about it at all. What matters next is how long can we keep this going up and if we can keep it up than it means we should be going to 50k+ and be better off, or maybe we won't be able to, who knows? This is what we should care about.

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

I consider that is a natural process happen to bitcoin and that is why the price will always fluctuate and if you do not know how to anticipate, you can get stuck by buying bitcoin at a high price. Maybe there are some people behind this drop but I do not want to think about that because as long as I can adjust myself with any bitcoin moves, I can take the benefit for me. Bitcoin can go up and down without notice and if you only think about people behind that, you will miss a good chance to use the moment for yourself.

bamb

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I do not think there is anything natural or unnatural about bitcoin price and indeed cryptocurrency prices in general. It is possible that a coin may experience growth and development that will lead to rise in value, but trading Cryptocurrency is basically function of demand and supply at the basic level and everything in between!

perfect999

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Quote from: TheUltraElite on September 15, 2021, 12:52:07 AM

When you are trading you will face questions like this, but there are no correct answers to these questions, only assumptions. It is better to keep your mind sane by ignoring such questions.

Maybe some big investor or insitution dumped their coins, or maybe a smaller dump happened and some weak hands crashed or some negative news was published. Either way, does it really matter? Answer is No.

It sort of matters. If it was the whole collective community that decided that the bitcoin price should drop and they got out then it is a bit more long term situation, changing everyone's mind will take some time and that is why it matters. However if it was man-made (like retail ones like us are not man lol) it means that whales could end up buying it back tomorrow as well, we do not know if they will but it at least has that chance. So, if it was natural and without a proper cause than it is a long term fall but if it is whales then there is a chance for short term (and also long term as well) and that changes the way people approach to things.

imstillthebest

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for me a natural drop means that there is only one to two coins that will drop but if all coins follows the other ,
i dont consider that as normal anymore but i always think there is some people behind this manipulations .
it looks like they dont want people to earn on other coins but they want all people to feel the same with other . thats a selfish move

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?

When you are trading you will face questions like this, but there are no correct answers to these questions, only assumptions. It is better to keep your mind sane by ignoring such questions.

Maybe some big investor or insitution dumped their coins, or maybe a smaller dump happened and some weak hands crashed or some negative news was published. Either way, does it really matter? Answer is No.

Quote

Can we assume that there are forces who can 'manage' the market like yesterday?

Another typical delusion that traders often have in their starting days.

Instead of thinking about such topics, why not keep money at hand and buy the dip - because if you had done that, today you would be at profit because bitcoin is at 46.9k USD.

Trading is a mind game, if you cannot keep your head in the game, you need to stop trading for a while. Dont sacrifice your sanity while trying to make money. You have to learn how to deal with this, not everyone can have nerves of steel.

Mpamaegbu

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

Now the question is, is it a natural process or there are some people behind this drop?

Your question is suggestive of a supernatural cause to what goes on in the market (or what actually happened on that said day), that sounds ludicrous to me. To tell you the truth, what happened on that day had nothing to do with any metaphysical. It's as natural as it can get. Trading is a human activity, and of course man's input determines what happens there, not spirits. Whether Dip or Pump, it's a subject of demand and supply that sets price. What happened with the recent dip isn't unrelated to the El Salvador incident. What does anyone expect when there are freebies handed over to people just like that. Of course, a lot of those who got it sold off immediately and that caused more sellers than buyers' kind of situation. When supply is greater than demand, price crashes.

Boov

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Quote from: Panxora_COO on September 10, 2021, 11:30:47 AM

It's all manmade.
The cryptocurrency markets are very inefficient and in global terms still very small. That means when something starts the market moving in one direction (or the other) the results get exaggerated. People trade because they are excited or afraid and overcompensate. But if you take a step back and look at it dispassionately, it means that there is an incredible amount of profit that can be taken out of the market. The thing to do is to use risk management models that perceive these kinds of issues as they are happening so they move you out of crypto into fiat. Then they move you back into crypto when the markets start trending again. Whenever that is. But all of us hodling crypto or trading it now are way before most of the world. We are in a wonderful place to be if we keep our nerve and trade wisely.

That can't be denied, it was all man made because real life traders did great things and all the actions was made by human. All the consequences of what we're doing generated results, so we've seen what happened lately; price drops unexpectedly. Unfortunately for those new comers, that wouldn't be easy for them to see their capital started losing but don't be discourage yet. By the last days of September we will see amazing market performance, then bouncing back towards huge predicted value.

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Quote from: slaman29 on September 10, 2021, 08:20:38 AM

Quote from: mindrust on September 09, 2021, 11:55:05 PM

It was a natural disaster. Just like earthquakes. It is all technical analysis. Markets go up, markets go down. Sometimes they make corrections. I believe yesterday was a correction. The fundamentals are still strong. Now El Salvador has adopted bitcoin fully, I'd say there is no reason to afraid of pretty much anything.

Haha, I would never have thought to use the term natural disaster but I think I call this natural weather. 10% drops in crypto is like regular and normal occurrence for me, not disasters, and for sure not disaster for everyone.

But maybe you have a point since all over the world people live with natural disasters like regular thing, so crypto market people should also regard these corrections in the same way.

If it was natural do you really believe that price would crash from 52k to 42k (it bounced back over but it was initially 42k for a minute there) in under one hour? Nothing natural about the price crashing from 52k to 42k in 30 minutes, that was clearly man made. I am not saying it was out of ordinary, for crypto those type of falls are ordinary at this point but it was definitely man made, but man made drops are ordinary in crypto.

Long story short we are in a situation where crypto crashed because some whales wanted it crashed, plus there was a lot of liquidation going around as well turning bitcoins into USDT to pay the debts, but aside from that it was basically good old bitcoin correction. Just because it is man-made doesn't mean it is unnatural, in crypto world man made drops are alright. I still remember Craig Wright causing price to drop from 7k to 3k in a day.

EdenHazard

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The OP think bitcoin price drop more than 10k$ is not natural because few hours only bitcoin price from $52k become $43k, I have the same ideas with OP because impossible bitcoin suddenly could dump almost 30% just one hour only, have the community for them together make bitcoin suddenly dump and they try to recovery faster maybe get chance with future trading also, almost when bitcoin dump more than 20% looks impossible if natural price dump, but have some whale make bitcoin suddenly crash and keep going dump to lower price, now bitcoin have pass three days not any way will back to higher price or not.

that is just what so called people power AKA decentralized, nobody can move the bitcoin price unless if he has at least 11.5 million bitcoin and 5 guys like jordan belfort in prime.
so , no man made. that is the nature of crypto nature, period.
man made can only trigger the panic sell/buy and that is not always successful in the end , we behind the screen who made it happened indirectly.

Panxora_COO

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It's all manmade.
The cryptocurrency markets are very inefficient and in global terms still very small. That means when something starts the market moving in one direction (or the other) the results get exaggerated. People trade because they are excited or afraid and overcompensate. But if you take a step back and look at it dispassionately, it means that there is an incredible amount of profit that can be taken out of the market. The thing to do is to use risk management models that perceive these kinds of issues as they are happening so they move you out of crypto into fiat. Then they move you back into crypto when the markets start trending again. Whenever that is. But all of us hodling crypto or trading it now are way before most of the world. We are in a wonderful place to be if we keep our nerve and trade wisely.

conected

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Quote from: slaman29 on September 10, 2021, 08:20:38 AM

Quote from: mindrust on September 09, 2021, 11:55:05 PM

It was a natural disaster. Just like earthquakes. It is all technical analysis. Markets go up, markets go down. Sometimes they make corrections. I believe yesterday was a correction. The fundamentals are still strong. Now El Salvador has adopted bitcoin fully, I'd say there is no reason to afraid of pretty much anything.

Haha, I would never have thought to use the term natural disaster but I think I call this natural weather. 10% drops in crypto is like regular and normal occurrence for me, not disasters, and for sure not disaster for everyone.

But maybe you have a point since all over the world people live with natural disasters like regular thing, so crypto market people should also regard these corrections in the same way.

- Disaster is just a hidden description to show how scary the problem is, newbies will probably have a surprised and motionless expression at the active volcano while people who have lived with this area as we are are only a phenomenon that is seen every month or every year, many people have seen even more terrifying times like this. But the disaster in life comes from nature while the disaster here does not manifest such nature, the increase and decrease is caused by human needs.

MIner1448

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

Although this is a natural correction on the market, but we can talk about it in fact, for example, I was not ready for it and could not find the reasons for such a sharp drop in prices, perhaps, of course, I don’t have much experience in the analysis, but my opinion is a lot were not ready for such a fall in the market ...

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Quote from: TheGreatPython on September 10, 2021, 05:00:18 AM

Quote from: john_nautica on September 09, 2021, 01:32:45 AM

Of course it's a man made, there's no way that it would change without automatically or probably you would be thinking about bots? there's a possibility the market do it's correction. Many people think it's bad because the price crash but in reality correction is a natural thing and healthy to the market.

I think OP wants to ask whether such a sharp drop was caused intentionally by someone or was it just a natural phenomenon. By natural, it doesn't always have to happen itself but something that happens commonly. I think he asked the question in a wrong way but meant to ask whether these sharp drops are normal or controlled by a particular individual.

As most others said, such sharp drops and hikes are normal and hence we call this market highly volatile because the price can go up or down without any logic or explanation.

and it is precisely this kind of fluctuation that many people like. maybe the OP has not seen the phenomenon in 2017 and beyond. at that time bitcoin formed a new peak of up to $ 20k until finally there was a sharp decline to $ 3500, and we can see at this time where bitcoin actually formed a new ath and experienced a very significant increase. and in conclusion, extreme price fluctuations like this are normal occurrences

slaman29

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Quote from: mindrust on September 09, 2021, 11:55:05 PM

It was a natural disaster. Just like earthquakes. It is all technical analysis. Markets go up, markets go down. Sometimes they make corrections. I believe yesterday was a correction. The fundamentals are still strong. Now El Salvador has adopted bitcoin fully, I'd say there is no reason to afraid of pretty much anything.

Haha, I would never have thought to use the term natural disaster but I think I call this natural weather. 10% drops in crypto is like regular and normal occurrence for me, not disasters, and for sure not disaster for everyone.

But maybe you have a point since all over the world people live with natural disasters like regular thing, so crypto market people should also regard these corrections in the same way.

TheGreatPython

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Quote from: john_nautica on September 09, 2021, 01:32:45 AM

Of course it's a man made, there's no way that it would change without automatically or probably you would be thinking about bots? there's a possibility the market do it's correction. Many people think it's bad because the price crash but in reality correction is a natural thing and healthy to the market.

I think OP wants to ask whether such a sharp drop was caused intentionally by someone or was it just a natural phenomenon. By natural, it doesn't always have to happen itself but something that happens commonly. I think he asked the question in a wrong way but meant to ask whether these sharp drops are normal or controlled by a particular individual.

As most others said, such sharp drops and hikes are normal and hence we call this market highly volatile because the price can go up or down without any logic or explanation.

jaberwock

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Quote from: Mr.Scott on September 09, 2021, 10:19:01 AM

Crypto market is so much volatile, however the money control the markets. The biggest manipulation is from the exchanges and whales. They can undoubtedly control the market, just they need your cash. A sad story! You need to do more research on the cycles of markets. Eventually the market will be getting normal, however market control things will not be changed.

No one can take our money if we don't panic. Did you hear the whole story about the GameStop token? how investors who short that token fell flat on their face because investors just never sold the tokens.

Once you panic and sell your bitcoins, someone else makes money from that. That's why I don't recommend futures trading to anyone without a good bankroll because bigger investors will swallow you alive.

At times I ponder that maybe if a big investor/whale is trying to short the BTC while another whale is trying to long it; what would happen because they should cancel out each other. And this may be the reason for price change all the time.

Mkmanik

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It was natural. It's a normal scenario in the crypto world. It was top price Bitcoin, MOst of the trader just close their positon there and booked profit. According to Technical analysis, the $52,000 price was a big resistance for Bitcoin. Buy at support and sell at resistance was applies here

some people Panic sold their bags when Bitcoin was dumping. But some people also bought Bitcoin when it was dumping. El Salvador bought bitcoin is this dip https://twitter.com/nayibbukele/status/1435260422110732300 El Salvador now holds 550 bitcoin.
So pump and dump are very normal in the crypto world. Just try to take advantage of those pumps and dumps.

mindrust

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It was a natural disaster. Just like earthquakes. It is all technical analysis. Markets go up, markets go down. Sometimes they make corrections. I believe yesterday was a correction. The fundamentals are still strong. Now El Salvador has adopted bitcoin fully, I'd say there is no reason to afraid of pretty much anything.

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Quote from: bitterguy28 on September 08, 2021, 02:47:22 AM

Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

if you have been in this forum for long time , you will find this as normal scenario everytime there is a Pump and this is what you called correction mate.

some of those who invest when the price is at 30k level had taken their profit by selling all their coins and wait for the dump and here it is happening.
then they will re enter and make the pump again.

and another scenario is that this is the correction for the long awaited bull run.

Correction is more appropriate word for this price dip. Wise investors also take this as buying opportunity.
While rest of community call it whale manipulation, price dip bla bla.
One established fact is that no equity, forex or crypto can go up only, market correction is deemed to happen when prices goes too high.

Rengga Jati

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

It is actually often happening in the crypto world, the price of Bitcoin suddenly drops very significantly. And yeah, I personally think also that it is not natural.
That is about man-made or market manipulation done by certain parties.
Moreover, we know that El Salvador at that time announced that they want to buy many Bitcoins.
It should be rising when the demand is high.
But in fact, it was dropped.
Of course, there are certain interests from certain parties.
Moreover, there was also some bad news coming alongside that big announcement.

Hippocrypto

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

It made me think a short while, whether man made or natural that doesn't matter because having human instinct seeing that price went too high lately of course selling would be a good options. We can't stop that situation, once there's a pump! possible downturn would come to existence.

Zilon

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It's just a normal incident getting use to market fluctuation will get you prepared real good. As long as trading is concerned you will keep seeing more dips so it's your personal strategy that would help you remain in profit despite the moves be it bullish or bearish

From my observation for a new ATH to form it takes a very long retracement. For now I don't panic when ever bitcoin experiences bearish trend I buy the dip and wait to take profit once there is a correction

dunfida

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

Who knows?

There are no other reasons either;

-Whales
-Big institutions
-Casual retail traders

If you do engage into this market then prepare yourself on something like this and dont get be too surprised.
Instead of freaking out then it is much better if you do mind off on how to get in and buy cheaper coins because recovery is inevitable.

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Quote from: john_nautica on September 09, 2021, 01:32:45 AM

Of course it's a man made, there's no way that it would change without automatically or probably you would be thinking about bots? there's a possibility the market do it's correction. Many people think it's bad because the price crash but in reality correction is a natural thing and healthy to the market.

Man-made in a manner because we're the ones that move the market but technically, it's natural to see a drop in the price of cryptocurrencies. You name it, bitcoin, ethereum, and other common altcoins and all of them. Talking about bots, many exchanges have a lot of bots and there's a classification with all of them. As you've said that it's the market that did the correction and it really comes when the market has already been overbought and expect that a dump might really come.

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

Now the question is, is it a natural process or there are some people behind this drop?

Technically speaking, any movement in the crypto market or maybe any type of market actually happens because of some people. Not always those people intentionally manipulate the market though and sometimes it's a result of a particular trend or domino effect. Once the price starts falling everyone just tries to secure their portfolio by selling which is simply what I mean by a domino effect.

Quote from: a298b112 on September 08, 2021, 02:27:24 AM

Can we assume that there are forces who can 'manage' the market like yesterday?

There might be such forces or whales as we usually refer them to, but there is no proof or solid evidence that can support such claims. Influencers obviously manipulate the market but there must be some whales who do the same behind the scenes and through brute high capital investment.

slaman29

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Quote from: ?? on ??

Actually 07 September We have lost a lot in the way the market has been dumped. I was in Future Trading at the time and I lost a lot and got liquidated.In fact, all the markets are dumping without any bad news.As far as I know, there was good news everywhere. Even after that the market has been dumping so much that we have cried a lot. But I don't think it's made from bad news.And it is not natural for the market to be so dumped.

Nah, it's fine. 10%+ dumps and pumps are all part of the journey and was probably long delayed already. The good news is the dump didn't push a further dump and 45k although broken was quickly mended and looks like the strong support it has been for weeks.

I didn't cry at all in this dump:)

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Quote from: death69 on September 08, 2021, 11:32:44 AM

It is both natural and man-made. Bitcoin has gone crazy for many days and thus, institutional investors or whales have taken profit so as to buy cheap coin. I have seen this kind of charts for many times. At the moment, coins are being collected and accumulated. Soon, everything will be back to normal because of the powerful current uptrend

Crypto market is so much volatile, however the money control the markets. The biggest manipulation is from the exchanges and whales. They can undoubtedly control the market, just they need your cash. A sad story! You need to do more research on the cycles of markets. Eventually the market will be getting normal, however market control things will not be changed.

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Quote from: john_nautica on September 09, 2021, 01:32:45 AM

Of course it's a man made, there's no way that it would change without automatically or probably you would be thinking about bots? there's a possibility the market do it's correction. Many people think it's bad because the price crash but in reality correction is a natural thing and healthy to the market.

Fuds spreading all over and it add up to fuel up those panic sellers to sell what they have for afraid losing more without even thinking that bitcoin will bounce back after the storm, Actually its proven for so many times that correction happen so I think this should be a indicator for other who always get panic for the movement to be calm if there's something like this will come again in future and realize that they are the one only losing if they drop immediately once they already feel the dump is coming.

john_nautica

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Of course it's a man made, there's no way that it would change without automatically or probably you would be thinking about bots? there's a possibility the market do it's correction. Many people think it's bad because the price crash but in reality correction is a natural thing and healthy to the market.

a298b112

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OP is here.
Few thoughts on this.

Terminology. By 'natural' I meant 'natural correction' and 'man made' means manipulation. Let's put this way.

I understand that crypto is very volatile market, however, the sharp fall is somehow doesn't look to be natural correction. Of course, many said the market will recover, and I agree with that. But I suspect that there might be some group of people or organizations who could have enough resources to manipulate the price of BTC. The other day I was walking and was listening one of crypto podcasts (don't remember which one) and they were saying that now 70% of trading is done by institutions. I assume they were talking about some kind of asset management or investment companies. And I guess there might be couple of them with big share of BTC. If an exchange's 24h BTC volume is about 3000 BTCs, how much BTC you need to manipulate the price on that exchange? Maybe 10%, or 20% is enough to drove the price down, and buy even more BTCs.

I mean this sounds like conspiracy theory, however, the abrupt and sharp fall of the BTC price is not natural. What do you think?

huu78

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This is something normal and this can be called a correction. Without market correction there will be no changes or movements that are different from before. You won't see new Ath or big changes without a market correction.

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Quote from: death69 on September 08, 2021, 11:32:44 AM

It is both natural and man-made. Bitcoin has gone crazy for many days and thus, institutional investors or whales have taken profit so as to buy cheap coin. I have seen this kind of charts for many times. At the moment, coins are being collected and accumulated. Soon, everything will be back to normal because of the powerful current uptrend

Constitutional investors and whales manipulate to increase their profits. The manipulation they do will certainly have an effect on the bitcoin market. They have a lot of money and are able to manipulate well. Manipulation is not just price, but some good news and bad news they also control. we as ordinary traders just need to follow them, do not go against the direction.

el kaka22

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Definitely man made, without a doubt. When the market crashes all by itself, it takes days to crash, or even hours at least, but this didn't even take a full hour. It was 52k dollars and in less than an hour it was under 47k, even bottomed at 42k for a second there but recovered very quickly above 47k. So it was obvious that it was the whales that wanted to see bitcoin crash, nothing more. The reason is obvious, they can't let a nation take bitcoin as legal tender, if they do that then they would have to accept that bitcoin is reaching to currency levels, not just investment but currency levels.

I remember reading about some super rich person asking how to get bitcoins and his broker suggested some combination of stocks of some companies that are holding bitcoin as a suggestion. Think about it for a second, if bitcoin becomes a currency and personally buyable, then ALL OF WALL STREET goes bankrupt, why would anyone need them? Just do it yourself.

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Quote from: NeuroticFish on September 08, 2021, 03:08:17 AM

Quote from: a298b112 on September 08, 2021, 02:27:24 AM

Can we assume that there are forces who can 'manage' the market like yesterday?

I think that it was "man made". I'd say that it has happened before too when - for certain events - peoples' expectations got fast too big.
This El Salvador story together with the great rise for the last 7-8 days have created a perfect storm we were too enthusiastic to see.

The result was:
* some actors dumping to move the price down
* possibly some actors cashing in their gains for the week to avoid risks
* many traders' stop orders kicking in and moving price even (much) lower

As you see, the bad actors have only started the avalanche, they didn't do all the job. Margin trading and stop orders not under continuous supervision have most probably doing the rest.

However, all this is only a theory. But it's not the first time I see this kind of development.

I agree with you. sometimes this was a man-maid scenario. Most of the technical analyzing methods were shows that the BTC will be up therefor I think that whales came to the market ha ha

death69

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It is both natural and man-made. Bitcoin has gone crazy for many days and thus, institutional investors or whales have taken profit so as to buy cheap coin. I have seen this kind of charts for many times. At the moment, coins are being collected and accumulated. Soon, everything will be back to normal because of the powerful current uptrend

slaman29

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There's no such thing as natural in crypto markets, or any markets for that matter. If demand is more than supply, price goes up. And man is what makes the demand, and what makes the supply. If people sell, price goes down and the other way around. That is logical, not natural. And even if you know what caused the drop, how does it help you after the fact?

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

No one can control the market .Its all happen with the buyer and seller .One thing can make an impact here any news .A positive news can make it high to the up and negative will make the blood on the market .However there many news around us on regards crypto specially on btc it is actually play a good role here .However try to follow up the news even you don't want to loose on margin trading .

checkmatesir

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If you are a not a newbie and if you working in trading since a long time ago then it is normal for crypto that's why no one can say anything about the coins that at which price it will rise, as yesterday you had seen that how bitcoin falls and some other coins too that were following the bitcoin and a lot of people had been suffer from it and was being in loss.

sheenshane

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No one can tell, it's a man made nor a natural way that how it moves the market price. I would say, 60% suspected that it was caused by a whale connected to El Salvador's government purchase Bitcoin and whales want to dump it, and possibly they will get Bitcoin at a lower price. As I saw on social media post, El Salvador invested again in Bitcoin half if they had own, it's 200 Bitcoin and now they had 400 Bitcoin total.

However, there are too many factors to be considered and we can't make any conclusion yet since there's no source regarding the reason for the drastic downfall of the entire market leading by Bitcoin. It was expected that there's a drop after the Bitcoin plunge at $52k plus in the market, the opposite possibility will happen is the drop and the result was true which is the fluctuation every now and then.

By the way, I hope you have understood OP.

Shenzou

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I think the price drop that we witnessed recently is due to the fact thst most people were either holding bitcoin up until the official launch of bitcoin as a leagel tender in Salvador in hopes that the price would reach high values because of it so they started selling after it, or they were waiting for it to reach the 50k mark and when it started falling everyone started selling to take thier profit.

sujonali1819

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

First of all this is normal in crypto. But behind these scenarios there are some reasons always. This time as I heard the reason was a bad news from coinbase.

source: https://t.me/tradingcryptocoach/29186

People are talking about this. But don't know the real reason though.

Ararbermas

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

As many of you know, yesterday BTC dropped to ~42,000 USD. And of course many other coins follow BTC.
Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

its normal situation mate because the bull run is finished, wherein it's time for the the downtrend, and of course its man made because everyone( traders) now is dumping to prevent losses from the new situation of the market , but no need to worry mate, just wait until it found the new support level because surely it will gradually gaining strength to climb up again.. It takes how many day so you should wait mate.. Don't worry because fyi that's how these market works ever since before . Wink

so98nn

hero member

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Definitely whales action. Correction do not happen with such strong / sharp drop in market capitalisation and thus the value. The first thing first, bitcoin crossed 50k for this reason only and it was just FOMO kinda plot so that everyone can start thinking that it is next level ATH thing. However it turns out it wasn’t that kinda pump after all. Now that whoever planned this pump is satisfied with the value and might have sold millions altogether. Naturally all the altcoins will always follow which we have seen the case all the time.

I am not surprised nor curious as to why this dump? Since this has happened so many times and since we know the volatility process of crypto one should not be worried about it.

palle11

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Quote from: a298b112 on September 08, 2021, 02:27:24 AM

Now the question is, is it a natural process or there are some people behind this drop?
Can we assume that there are forces who can 'manage' the market like yesterday?

It was just a circumstance of correction which was because of consistent increase of the price of bitcoin. So it was natural to happen and can be managed also. For a hodler who is able to foresee the drop, the best would have been to sell out outrightly or to convert the btc into USDT and with that you won't have the lose experience. USDT and other stable coins are best use for such kind of predicted drop.

Wexnident

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I don't request loans~

Man made, it was a rather sharp drop after all, and a bunch of other traders followed suite, whether it be through stop loss or panic selling, they all joined it since it was a rather abrupt drop. It wasn't really anything big imo, it managed to stop itself before dropping even more after all. Still it was kind of expected since the market always does a pump or a dump, difference is, this one just wasn't gradual which is how it usually is, except when it's a bubble I think. I don't even think it was a single force that managed to do it, it's mostly different forces imo that did that and the rest just followed suit.

Cryptomiles1

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The market drops shouldn't be away of panicking as it's normal and that is what makes it crypto, the market can never be on a long run so most time it went high and low though some may be likely to a news reflection. As a trader set out a stop loss and sell limit to guide your funds.

stompix

legendary

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