Bitcoin Forum

I Was expecting a correction in this period and actually happened, it was quite understandable after so many days of price pump, but I have to admit that I wasn't expecting such a massive crash (almost 20%).


Maybe it could be a combination of a necessary/natural correction and a "sell the news" factor gave by El Salvador officially introducing BTC as legal tender.


From the moment we never have certainty in this market, I don't want to say that now we have, for sure, to expect a massive pump, but I still remain bullish, because the long shadow on the daily chart could suggest that the buyers are still present and vigorous (the next days will tell us who is the real winner).

Nah, i dont see that kind of reason to be that somewhat connected on that flash crash (not totally considered to be one) because if we do talk about flash crash then it do always follow with recovery.
I do rather believe that there is some whale who do sell out bulks which did cause that kind of decline and dragging off most altcoins in the market too this is why it isnt really that surprising
that these kind of movement do really happen even though not that really on common but possibility is there and if you are just new into this market then better get used to it
because this is just like a normal day in crypto where price swings could really be having that kind of intensity on a particular day.

I really don't understand the recent drop in the price. Bitcoin price was on a great run and it was continuing to climb. It reached nearly $53k also. But all of a sudden, the price started to decrease very sharply in an incredibly little time period. I couldn't even react to it, I just saw that the price was $47k. Moreover, it dropped down to even $43k which was insane as it fell down nearly $10k. I guess that there is no specific reason for this drop. It's just the random volatile movements.

This crush made lots of people cry. Well, I Didn't say about those spot trader or holder because their money is safe reason bitcoin price is back again $47k+ zone. But i am talking abour those future trader who are going for long. Everyone's money becomes liquidate. They lost their money and who didn't use stop lose. I was doing my dinner that time my friend called me and say dude i am finished. I say what? What happen did your girlfriend cheat with you? He say don't joke brother. I asked what happen he say my invested $2k liquidate. I say what, how, and when you gose for long. He say from $50k. He thought price might increase more. And started with 25x. And didn't use stop lose. Then i say him i altime told don't go for future trade but you enter and also didn't use stop lose. Now what can i do now you have one option learn from this mistake and start a new beginning.

Remember guys crush in crypto market is a sudden thing so keep prepare yourself for it. And for trader always use stop loss.

It was hard to call what would happen today, the first day that El Salvador has introduced Bitcoin as one of two official currencies of the country. They have effectively bought up and given away a nice little chunk of Bitcoin to any citizen who was interested - bound to be a slight sell off but this seems larger than expected. Maybe the idea was greater than the actual reality, at least in the minds of larger institutional traders who are able to move Bitcoin by such large sums. Who knows what drives the Bitcoin price any more, do whales dump in the hope of driving down the price so that they can buy it back later on for cheaper? There are all sorts of strategies and motives going on behind the curtains that us "little people" cannot comprehend.

I remain bullish too.

Just after the official legal tender adoption of El Salvador and there have been whales that probably gifted this to them as a little gift for the flash dip.

Wait for it until it recovers, $52k was the highest as it had recovered maybe it will be more than $55k.

20% is quite huge, but just as you said, as a crypto hodler or trader you should always expect the market to crash after a pump, because such crashes create an opportunity (entry point) for new to invest and old to get more.

What you should concern yourself with mostly is how to handle the inevitable in cryptocurrency which is the occasional market crash, what to do and how to cushion the effects on your investment.

As market analyst we should expect any move at anytime I know it's not favourable for holders but for the traders you can profit in both bullish and bearish trends. I'm always open to any move Bitcoin makes at any point ready to take some profit depending on the move. I know many traders smiled back at their trading account once the got the signal to sell

Some profit taking, some stop loss, some people panic selling and you get a 15% drop.
Not the end of the world, not even that big a deal. Let's see how it plays out over the next few days / weeks / months.

-Dave

I don't think it's a correction. The drop suddenly happen in just a few moments so there's probably some giant whale unloading a huge amount of Bitcoin to the market for profit making or for market manipulation.

There's a speculations that this that happened to send a statement to El Salvador president that Bitcoin is a dangerous volatile asset.

But damn, I didn't expect that price to suddenly go $43,000 and missed the chance to buy back at the price  :'(

Yeah, maybe some whales takes advantage of the situation to dump his bitcoin.

Nevertheless, the market remains stable now, we have bounce back to $46k, so we are still above the average of $43k so that is good news already.

So just remain calm, just another day and it just shows how bitcoin price is really volatile. We are still the bullish momentum, and it's good that we have this kind of correction so many can enter the picture again.

Yeah, some people were expecting a price correction at some point after a price increase like that. However, I don't think that anyone expected a $10k drop in Bitcoin price in a very short time. This could be one of the biggest drops in such time in Bitcoin's history. Now, the price is trying to recover but it is struggling to break the $47k resistance level now. After seeing the quick decrease, I guess that panic sellers also did their thing right away.

Maybe I may have missed out on speculators speculating but, I saw this coming. Crypto is like lifee (Ups and Downs). When it was all pumping, I knew that the eventually, there'll be a dump. There's no one to blame and I don't see any cause. Whether someone triggered it or not, it is bound to happen, and a pump back will also happen. Definitely.

I got noticed on my wallet that the price was dropped by 10% and now it's almost 15% dropped, I don't even know the reason for this drastic downside of Bitcoin price.  It might be big institutions taking up their profit and the continuous drop was made by the panic sellers.  Who knows!

But this was expected because of the recent price increase, as we know if there's a massive increase and an opposite direction there's a downfall which is we commonly experienced.  Probably because as I always said, Bitcoin has no infinite growth and it is high volatility that might every now and then it will drop and go up.

Just hold if you have a loss and never sell.
Because not all are sad to see the market was a drop, while others have a great opportunity to accumulate it back while it has a correction.

This is just a normal crash I believe there are traders taking profit than panic selling because the price movement lately can be easily predicted that is why I already sold mine yesterday to take a profit.
It's pretty simple to predict the signal, I see the price decline at $52k and drop a bit at $50k it's a signal that there is a strong sell soon so decided to sell mine at $50k.

I know there are some traders here who are late to sell I'm not greedy as other traders you should focus on making a profit than holding them too much.

I am afraid seems as if this is just a correction, but it happened in the very quick dump.
But again, the percentage of the drop is still kinda low compared to the previous ATH. This time is different now compared to the previous all-time highs.

This could be another new bull run cycle?

We can't call this "massive", but yes, flash crash, however, we somewhat goes above $43k now, so it didn't last that long to see the price nose diving to $40k.


We could be in another recovery, so we might see the price hitting $53k or higher after this quick dump. We are already in a bull run cycle, so this is just a minor step back, and then it will continue to this month.

I think the correction is normal during bullish market. In my opinion it show that traders are very enthusiastic. I don't see any other particular reason that cause this. I think this correction is naturally happen because of trader activity. Maybe bitcoin price will surpass new ATH soon. I am not an expert maybe I am wrong but I think it will be good if we becarefull and aware about bear trap. If someone want to get more adrenaline he can ride this rollercoaster, I mean if someone can play very well at this extreme volatility time then he can get bigger profit. Buy at low sell at high.

The rise during this period of time and the sudden drop yesterday are normal fluctuations, but the magnitude is a bit larger. Essentially, some big bookmakers harvest ignorant retail investors. Market sentiment and Bitcoin news are their tools. There are good reasons to complete the accumulation of wealth, and retail investors really don't have much say. This is how the two sides of the zero-sum game face off. Don't be surprised. In fact, this kind of volatility is something that many traders look forward to very much. If the Bitcoin price fluctuates very little, it will be a time torture for them.

All leveraged long players deserve to lose badly.

Same for all leveraged short players.

Exchanges have the ability to crash or jump coins especially if leverages are lopsided high or low.


think of a spot that highs are 5x that of lows.

the exchange itself can sell a ton of coins low price on purpose to a whale silent partner.

price crashes and all the leveraged highs are lost.

So if I am hold 10000 btc at 53 and spot sell at 43 I lose 10000 x 10000 = 100,000,000

but if that wipes out all the leveraged highs I could collect 1,000,000,000

So all leveraged people need to lose all the time as they are moron degenerative players.

Sounds harsh but they need to be able to know the books of every exchange since any major exchange can have lopsided highs and or lows. Thus even if your exchange is half high and lows you may gent hurt by another exchange looking to wipe out heavy high leverage.

Heading for a loss in market value, the bitcoin price fell 15% to less than $43,000—its lowest price in nearly three weeks—before quickly paring some of the losses and settling at around $46,810 at 11:50 am EDT, still 9% lower than a day earlier. the occurrence of a massive flash crash, we don't need to panic, I don't think it will be long, because next month it will definitely rise again..

The price of bitcoin experienced a correction after the inauguration of bitcoin as a legal tender in the country of El Salvador, thus making some investors buy bitcoin as a precaution for El Salvador to legalize the policy but after that investors moved quickly to resell, so I think this sell-off caused the most significant correction against bitcoin this time.

The price drop this time is more like a counterattack to the previous NFT market enthusiasm. For cryptocurrencies, the amount of money in the market is limited because their penetration rate is far lower than that of stocks or gold. When most of the funds are consumed in investing in nft and paying high gas fees, there is not enough funds to push the currency price up. There is another piece of data to prove this. When the price of Bitcoin exceeded $50,000 this time, the transaction volume was only 2/3 of the previous time when the price exceeded $50,000. So the price drop is predictable.

I did expect a pullback of the crypto prices though despite that El Salvador made that huge announcement in officially making Bitcoin as a legal tender and even purchasing 400 BTC. We don't know the cause of the flash pullback yet, but I think this is a random whale manipulation in my own opinion. They are playing the minds of the weak hands that made them sell quickly so that these whales could buy back even more. Again, it's just my opinion.

I've been feeling not good when the price of BTC is always have positive sign since a month ago. I'm sure there will be something wrong in the ocean if the wave is always calm.
And the time was come yesterday, most of us maybe wasn't on preparing to hold some stable coins because it was too fast and too late too cutloss.
But it's okay it's normal for crypto market, we will see another bull run next time in the future.

Do not be worried. Most of this crash originated on 2 exchanges conveniently located in Singapore, so the Chinese were selling exactly on the day when El Salvador officially recognized bitcoin as currency. This was a move to scare people, not some coincidence. The crash was too fast and it's going to happen again because of low liquidity on exchanges.
Manipulation matters only if you allow yourself to be manipulated.

Well my prediction for the price going down as it did is because many people who held bitcoin over the past few months or years have had the hopes up with el salvador adopting bitcoin that the price is going to get to some high values because it is sort of a big news, and i think up until tmrw the ones who have held it and when the price reached the 50k they sold which probably leadd to it being oversold and the price going down.