Massive flash crash

[ropyu1978]

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..

[junmisakiro]

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.

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.

[Jasper HODL]

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.

[cheezcarls]

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.

[wajik-tempe]

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..

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.

[coolcoinz]

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.

[Shenzou]

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.