Bitcoin Forum

wtf? market is red :/ everithyng is red.

have any idea, what is reason?
or its just (only) Pump - Dump game?

I've sold my bags.My apologies.

simple reason for this red market, the sellers stronger than the buyers
so, this will push the price down mate
and maybe because of this news people sell their bag for now
https://cointelegraph.com/news/bitcoin-network-hash-rate-mysteriously-flash-crashes-by-40

Just when is about to have greater prospects we get another dip I really wonder sometimes what really happens in this market Is just not predictable most times But am kinda sure it will correct itself in few days

There was no a lot of demand in bitcoin BAKKT
https://cointelegraph.com/news/bakkt-trades-71-bitcoin-futures-contracts-in-first-24-hours
This is the main reason why there was another big crash from bitcoin and its hashrate in the network. It looks like a lot of people are taking their money back again and those who are still believing with bitcoin still hodl their bitcoin.
This is not a pump and dump game.

People are dissapointed with BAKKT result and they decided to sell their coin, might be?
Dump or not, we had seen bitcoin dropped to $3k, at the current price, it's still far from that lowest price. Bitcoin still struggle around 10k back then, that's why people prefer to sell their coin because of inpatience

Buy them back!

It probably goes right back up.  I've been doing some Doge trading right now since I needed to fund an exchange.  Doge seems to be climbing back up at the moment.  Looking at the 1 hr column at Coinmarketcap, others are in the green now too.

Of course it could be different in the next hour.

I have seen this before, red days are already started to experience. Bulls said goodbye for a while and bears are out to say hi to the market. Good thing, I saw this coming so I already converted some of my coins into fiat and wait for another pump. They are suffering from reds since Sunday.

Anyway, there are so many reasons why red days are happening. But one thing is for sure, it is not always bear to manage the crypto market, bulls are just taking a nap.

most of it is due to Bakkt, everyone had been expecting it but until today, its trading volume was less than 1 million dollars.
Therefore, this is a signal that the market is having big psychological problems, when the speculators are not interested in bakkt, they will run! and that's why the coins dropped more than 20% in the evening of September 24

I think if it is true because of Bakkt, the decline will not be this big and fast, it seems like there is something else that is affecting this very rapid price reduction, but I don't know what that is

I would imagine that BAKKT was the trigger. Anything that performs worse than market expectation can cause a price drop. It's early days however, and when we see this sort of sudden drastic movement, whether up or down, it tends to overshoot and then we see at least a partial recovery quite quickly. I would think that's what will happen here. It looks like a market over-reaction leading to some panic selling.

yeah i guess it pump and dump, in the morning i see the chart is normal, but in night before i sleep market going crash.



that right whatever has gone down will rise again, and the opposite.
but it might take a few time before it pump, so start to buy again in low price, dont be negative be positive.

This is how the market reminds us that it could always f*ck us up so we shouldn't always take it for granted.
Who knows if the pump and dump of the market is just a manipulation of those who really have a power in the market (Whales coordinating or manipulating the price).
For sure those who have a huge amount could easily play the market and the people would play along in their plan.

do you think yesturday was bad? take a look at cmc today and you will see its worse

It has been quite severe, but I do think that prices will recover soon. We do seem to have stabilised a bit now. Of course I could quite easily be wrong, but I think the drops were an over-reaction to the bakkt performance, causing an temporary hit to confidence.

The cryptocurrency market is a very volatile market so before investing, did you ever know about that description before putting your money to any altcoin of your choice? if you didn't, I think you invested due to the hype that was brought here.

Everything is going to be fine, this is a basic movement of a volatile market.

Zoom out your Bitcoin chart and you can see it has been accumulating in the range of $ 9k to $ 11k in recent times, and yesterday was when the price of BTC went to the end of the bearish triangle, which means that BTC is about to have big volatility. And the movement of BTC yesterday said it.

If you are just new to this crypto space then these are just generic questions came from newbies but if you do have already some experience on how this market
moves then you wont really be surprised.

Questions: Are you an investor? Dump will heavily affects you if you do either bought at peak or have some long position with leverage.
If none of the above then these movements wont really be a big concern for you.

There’s still no sign of pump so I think this dump will continue and the volatility will becomes more high and risky for the panic seller. This is not a black day with crypto, its pretty normal since day one so technically we will survive this dump

Before this sudden dip, I saw many predictions about Bitcoin going to 11k$ soon and more. This shows us that nobody predicts the market correctly, TA is cool but not 100% sure. There are many factors which influence market prices. The dip took everyone unawares but the market will soon recover, let's be patient.

Yes, it's similar to last year chart, when BTC accumulated in 6k $ range for a long time then falled 50% to 3k $. If BTC dump, It will active a series of stop-loss order, cause of the black day. But we can use margin trading to earn profit in this dumping.

predictions are always like that, we can not expect much from the news circulating in the market. but the situation and market conditions can change quickly. said all certainly panicked at this situation because almost all assets went down. the belief that patience will give results is now being tested, hopefully there will be improvements in the market soon.

Sept 24th crypto market is indication of institutional investors coming to market with full of expectations and it got failed eventually

This year has been a tearful year for long-term investors.  Altcoin seems to have no hope after the storm that BTC brought to the market.  Perhaps this is the end of the altcoin market?  Hope and wait for a new trend to save this pain.

This will be the testing grounds for long term holders and the panic sellers, it will be between your understanding  and patience to continue holding your assets in order to be able to catch up when the recovering stage went back. You have all the time to manage your portfolios, choosing your investment will be more tough when suffering from the bleeding market conditions. It's your own research and observation that's need to be followed.

hm, its nice, i want low price :)))

becouse, i want more BTC with my miners, becouse i have zero cost of electricity. and when price going down - my BTC earning is growing :)))

i will HODL my BTCs to 2022 year. i want MINE more and more BTC before healving <3


go go - dump <3

Bakkt exchange trading volume is less than 20 BTC. This event was such a hope for crypto, and everybody were praying that it would be successful, but 20 BTC is just a disaster. Nobody knows if crypto is able to recover from such a punch.

It is good for you if you had miners and has zero cost for your electricity, But I guess it will surely ROI if that is your case Because of that zero cost for the Electric Bill is a higher indicator that you will surely ROI, And now I guess having something like free electric and internet cost can sure come in handy,

But the sudden drop in the price of Bitcoin is an indicator that many in the community are selling right now than buying it, I don't see any other reason behind the drop because there is no such news about it.

People only speculate because none of them know the result in the future that's why there's always a TA and FA to follow the closest possible result. Those factors that you are talking are sometimes off the charts that would lead to a miscalculation of the result. Just like what happens to the expected price of Bitcoin when it is almost to launch, people are in big shock to notice the price started to get dump to $8k down to $7k.

i am not pretty sure what going on about a few days ago.
but , i have a little speculation, probably because
1.BTC hashrate suddenly unhealthy (https://twitter.com/el33th4xor/status/1176484620055003143?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1177541471446142976&ref_url=https%3A%2F%2Fnews.u.today%2Fnews%2Fbitcoin-hash-rate-reaches-new-ath-days-after-mysterious-30-percent-crash)
2.launch of BAKKT (https://www.coindesk.com/bakkt-is-finally-launching-its-bitcoin-futures-today-heres-what-to-expect) make some sentiment to market.
3.about SEC opinion to Bitcoin ETF which is still unclear (https://www.coindesk.com/sec-delays-decision-on-wilshire-phoenix-bitcoin-etf-proposal)

or all of them , because for some reason ,all of that,happened before BTC going drop.

i don't think it's a game of pump and dump or manipulation, because prices are falling so hard in such a short time. maybe this is a reaction that occurs by the issues circulating out there that cause a great panic to occur. i just hope this is a normal event by the market sentiment that is happening and maybe the falling price so far will make a big improvement next day

Yes, it's sad to confirm that it's a Pump and Dump game.
I also know that the Bakkt launch failed but that news could not have been the reason for the market's fall.
The reason here is that sharks have begun to observe charts and psychology of traders, when after 3 months of selling alts, trying to push the price of Bitcoin but failed, then it is time for them to dump. .
this is the cycle usually takes place in markets where effort crypto failed to push prices of the shark, and we should get used to it.

The overall drop across the market could be triggered by Bakkt's disappointing launch, the trading platform introduced to the cryptocurrency world a year ago by (ICE). Very few altcoins can survive the storm. Heavy market losses caused bears to enter again. That's not too strange because BTC is already a large part of the market, making it impossible for altcoins to develop unless a new trend returns. We have to expect the recovery of BTC, and I believe that it will not be far.

Lmao , so what u want to say its pure pump and dump ?
then, what do you mean 3 monthly cycles?
Did u think people just stupid throw everything after fail to pushing price like u speculation ?
it is baseless thinking.
And also , what a kind of people try to create a super massive money game with dumped almost 50.000.000.000 USD ?

Lol, that 2022, are you sure that is not the dumping year because you know that once we have a year of bull run, we will always get a corresponding year of bear market again, you know when the last bull run ended, and how long it took the bears to rule the market which was almost 2 years.

This time around, many of us expect the bull run to come in 2020, which means we may be having another year of bear market as from 2021 to run all through 2020 and I am sure that you would not want to be in this position again, so we have to be very smart, once we have bull run, it is better than you remove your investment coin and then wait for another bear market to come in again. Well, it is all speculation anyway as nobody knows exactly what year it will be for the bull and for the bears.

The recovery of bitcoin depends on the next news of bitcoin. Remember this the result of BAKKT has already made so many people feel disappointed but that's their fault to put a lot of expectation for BAKKT while we know even SEC never try to take bitcoin ETF .

Bitcoin will be recovering again when these speculators already woke up from their sleep due to the BAKKT.
A few altcoins can survive against the bear trend caused by BAKKT.

i think that looking for reasons is the biggest waste of time
you can never know the real reason
 :-\

People seem to want to find reasons for what it is happening and most of the time the most simple of the explanations is the correct one, what is happening is extremely simple the market has not been moving up for weeks and some investors got tired of being invested in an asset that was not giving them profits so they sold their coins, this pushed the price down and suddenly many stops were hit, this created a feedback loop in which everyone began selling and then the price crashed.

thanks for compilation. i think hashrate drops more possible. other possibilities just specs and especially etf talkings continued while 2 years ago

OK, about a week since the OP has opened this thread, I do hope that you guys by this time understand how this market  works. It's a series of cycles, last week we're in red but today we are seeing the market bouncing back. So if you panic last week and sold your coins, I'm sure you are somewhat regretting your decision by today. So let that be a lesson for everyone here, it's not really the end of the world when we suddenly see the market crash. It's how we're played by manipulators and it's how people react to the news. Just be calm and you don't need to panic you just have to use your common sense and think about the long term.

Obviously, we have heard that you shouldn't be emotional in trading. But what can you do when there is a lot of stakes on line? So it's just normal to say the least to react to such bad news in the market. The issue here is that noobs investors are really affected and react for every market dip.

We don't know if they invested a lot of money or just too ignorant about what's crypto investment is all about. So most of them regret selling, or thinking of going back to the market and buy again at a a high price, dumb move and I'm sure they have learn their expensive lessons here.

market still so volatile mate and it's a normal scenario only when there's a dump and pump that always happen . Unless if you see some coin that stumbling down constantly  within days especially if it's bitcoin  wherein for sure it's a massive declined again in my opinion . .as of now it's just a normal fluctuation and no need to worry in fact there are  no bad news that can cause such issue.  .so  if i were you mate plan to day trade ,so that you can make small profits despite of the current situation .

This is not a waste of time, finding a reason is a way of us as a trader to do research. Research is not only about fundamental analysis, but sentiment analysis is needed too. Cryptocurrency may be full of manipulation but not all of them are,
for example the time when China banned Bitcoin. Because of this reason, the price crashed. And now the price crashed again, so we should know what is going on.
To prepare for the worst and find an alternative way to counter the problem.

Now, I believe the biggest reason why Bitcoin crashed is due to Bakkt. It did not meet our expectation, the price recovered quite a bit before the announcement of Bakkt.
and because of this too, we lost our reasoning and decide to dump it.

reason: end of month + price cycle of 4 years.

buy when things are red and sell when everything is green

People should stop posting thread like this marking a date for every drop of the prices, it's very natural for a highly volatile market, I don't see anything reason on it, some slip has a news attach to it some don't have at all, so goes for the price whenever it's increasing, people like you who posted this kind of threads are more like a moron, and you did not invest what you can afford to lose.

If there's a dump, there's a counterpart and turnover of it. These red market will never cease to happen but the recovering of the market will do the same too. That's the logic in this market and you have to get used to it in able for you to survive.

Avoid being emotional because it will push you to more losses. And don't be surprised if we get to see the market on red because we're not even surprised when we see the market to be delightful in our eyes.

I think that I agree with you about this, and this is the right time to buy when the market is red so that we can have that opportunity to earn big when the market is green again, but when we are investing during this period that many coins will also be tried, we have to carefully select which coin that we will invest in because not all the coins that you see will survive the next altcoin season.

Many of them will die with this bear market now and this extreme deep  may never allow them to rise again, the projects that I see have the tendency of rising are projects that are within the top 200 now, I think those are the coins that we can always aim to buy anytime that the market goes red on them, they are the ones that serves as blessing to us during bull run.

Not to be as crass, but it's most likely just part of the pump n dump cycle.

Bitcoin price value is highly affected by gossip, rumors, and news. So when people heard that the new Bakkt bitcoin exchange only had 7 bitcoin volume on first day (compared to CME futures which did 5000+) coupled with the fact that the VanEck SolidX bitcoin ETF was being shut down, people naturally over-panicked and oversold.

As we see tho, bitcoin is again on the rise just in time for the pump. The cycle continues..

To me what we are seeing is not the market bouncing back, to me this is just noise, yes the market recovered a little bit but that was only because the crash that we experimented was so massive that a correction was a must, but I will agree with you when you say that we must be very calm when we are in this market because even that crash was not so significant, after all the price is still above 8k and that is still way better than the price at the beginning of the year.

You need to make sure that you fully understand those factors that leads the trend to move according to the directions where holders wanted to bring.

Rumors and news that affects the holders decision making, It's tough to decide when majorities are already taking sides. Best to make a deeper research and take your time to assess never to rush to avoid making a huge loss of your investment.

Another whales has sold millions of dollars worth in BTC and this caused another market crash. Furthermore, on the 23rd Bakkt exchange was launched and the trading volume was around 20 BTC which disappointed everybody.

It is better that those whales keeps selling their coin right now and give us a space to breath really, whales are really not making the market interesting and we don’t need lots of these crashes so as not to discourage intending investors, and I just can't wait for the time that bitcoin will be very high that they will not be able to use their money to accumulate it.

By the time bitcoin is already like 1 million dollars, it would be impossible for a whale to even accumulate more than 500 coins at a goal, unlike the way they are just using their billions of dollars to buy as much as they want. It is really bad that their activities coincided with the bakkt release, I am sure if bakkt had known of such intention, they would have postponed their release date, which I believe that bakkt had nothing to do with this crash.

just going up and down as usual I guess because the fall is not very drastic in the normal sense, in the near future we will see the market will recover, there's nothing to worry about.
but if the decline is more than 5-10% there may be a lot of sales (DUMP) as we saw at the beginning of October where BTC dropped from $ 10,000 to $ 8,000.

Looking back on the crash last month, it seems like that the main reason that propelled it are:
1. The FUD regarding the bitcoin hash rate drop
2. $10k support in BTC not holding, which led to a greater psychological effect on the rest of the market, also propelling the entire altcoin market down with it

At the end of the day, what I see is just a panic dump due to irrational market forces.

There is no reason to say that we're back into a bear market just yet. We'd have to wait and see where this thing bottoms, or whether a recovery occurs straight away.

Today there was a nice rise in the price of bitcoin. However, it may take a short time. I'm getting nervous. Because I don't see any reason for the ascension. I'm looking for a logical reason for ascension.

Do not bother, many traders are always trying to find a reason to explain why the market does what it does but there is none, it is better to just look at the markets and react to what they are doing, that way you do not waste time trying to identify things that are not out there, this may seem odd especially to those that like to use fundamentals to predict the market but it is by far the best method that I have found to make money in the markets.