What is happening ?

[FanEagle]

I guess we can call this just psychological warfare between regular old investment methods and current technological methods. Bitcoin is affected because others are affected, we are not totally isolated because we are people as well just like other investors who put money into stocks. If they are affected and sold their stocks and wanted to be in cash and get away, that means same thing could apply for crypto investors as well, not quite uncommon for the needs of both investors to be same.

In any case this is a temporary thing, markets crash all the time and they do recover a lot as well, prices of some stocks that almost bankrupted in 2008 have more than doubled now and that is with the crash, same will happen again for both stocks and bitcoin as well when this is all over.

[danherbias07]

Kind of normal if you are a veteran.

When someone sells quite a lot and put on a big fall like 1k to 2k USD then next will be those who will panic and try to sell their bitcoin too before its too late.
Some of them might have bought at $6k and they just want ROI or better a little profit before it goes more south.
This will stop though. After all those weak hands have emptied their wallets then next will be another touch to a good price.

[Wexnident]

Panic. Virus panic. At that moment, it really was crazy, seeing it drop off from 9k to 3.9k. The drop from 9k to 8k was relatively slow, but it suddenly dropped quickly from there to 3.9k which was really surprising. It wasn't alone though, literally everything dropped, from the crypto market to the stock market. At this point, we can all see that the only reason would be the panic caused by the virus as well as the economic situation all over the globe, especially for the stock market. We could also say that since the economy is currently going downhill, Bitcoin followed since it is quite reliant on it. Even if we do say it is a safe asset, it didn't seem to do well under heavy effects of panic.

[ScamViruS]

So Bitcoin just crashed to 6200 $ , around 1000 $ 1 hour , around 15 % in 1 h   , what is going on ? 

I saw the time the dump was going. It was a crazy dump, something like this I had never seen before. The main reason for this dump was Corona's panic, where the seller was everyone, but there was no buyer. If you looked at the orderbook at that time, you might understand. When there was not enough liquidity, everyone was ordering the market sell. And all the positions of those who were with high leverage traders their position liquidated and the market went crazy.

[snipie]

So Bitcoin just crashed to 6200 $ , around 1000 $ 1 hour , around 15 % in 1 h   , what is going on ? 

I saw the time the dump was going. It was a crazy dump, something like this I had never seen before. The main reason for this dump was Corona's panic, where the seller was everyone, but there was no buyer. If you looked at the orderbook at that time, you might understand. When there was not enough liquidity, everyone was ordering the market sell. And all the positions of those who were with high leverage traders their position liquidated and the market went crazy.

One day our children will be told in school that the huge crash in bitcoin price(/FIAT) in 2020 is related to a very tiny evil virus called Covid-19 that eradicated x% of the world population, raped global markets, dropped oil prices to lowest over decade?, everyone is panicked like hell! Crap...

[STT]

BTC usage should rise under these circumstances with more remote use demonstrated but also the cancellation of various events may be proving a bigger negative short term.   I think this is mostly a price movement not actual negative BTC news so I dont consider it too serious outside of trades for speculation.



Whats happening likely is we put in action to form a bottom, retesting support areas.  Because its a large range previously, it'll be able to move down large but also in context it can form into bullish action.

[Oasisman]

~snip~

~snip~

One day our children will be told in school that the huge crash in bitcoin price(/FIAT) in 2020 is related to a very tiny evil virus called Covid-19 that eradicated x% of the world population, raped global markets, dropped oil prices to lowest over decade?, everyone is panicked like hell! Crap...

Bitcoin's price has crashed due to several reasons and not just because of the covid-19 alone.
The plus token scam and dump might be one of the major reasons for this dump.
It could be the whales manipulating the market and ride with the current pandemic.
Nevertheless, covid-19 just caused too much panic for the people to choose the needs to survive rather than diversifying a budget for investment.

[Japinat]

Bitcoin's price has crashed due to several reasons and not just because of the covid-19 alone.
The plus token scam and dump might be one of the major reasons for this dump.

I agree with you, but even if the scammers did not dump their token, we will still see this dump because of the covid-19 has already become a pandemic, people panic, it's a normal that we will see a dump but maybe that this huge.


This is the reason of the big dump, whales manipulating to cause more panic.

It could be the whales manipulating the market and ride with the current pandemic.
Nevertheless, covid-19 just caused too much panic for the people to choose the needs to survive rather than diversifying a budget for investment.

[wxxyrqa]

Bitcoin's price has crashed due to several reasons and not just because of the covid-19 alone.
The plus token scam and dump might be one of the major reasons for this dump.

I agree with you, but even if the scammers did not dump their token, we will still see this dump because of the covid-19 has already become a pandemic, people panic, it's a normal that we will see a dump but maybe that this huge.


This is the reason of the big dump, whales manipulating to cause more panic.

It could be the whales manipulating the market and ride with the current pandemic.
Nevertheless, covid-19 just caused too much panic for the people to choose the needs to survive rather than diversifying a budget for investment.

In the face of such a problem that the whole world is facing today, in my opinion cashless payments for each person should be a priority.  Based on this, I believed that cryptocurrency would be very much in demand not only as an investment in order to minimize the risks of falling prices in markets in different directions, but would also use it as a means of payment, and at the same time, the demand for cryptocurrency should increase it  cost.  But everything happens in a completely different scenario.  I believe that all these problems and panic were exploited by speculators and scammers who are trying to make money due to the current situation in the world because of the coronavirus.

[mrquackquack]

This is probably a good time not to dump crypto since its usually a fixed amount issued but hey keep dumping, I think its still high.

[Questat]

This is probably a good time not to dump crypto since its usually a fixed amount issued but hey keep dumping, I think its still high.

I think its already low, and its the dip of the recent dumps, don't expect for bitcoin to fall below $4000 again, let's be contended with the current price if we think of accumulating, as we might not know vaccine for COVID-19 is coming and bitcoin will start recovering again.

[Findingnemo]

This is probably a good time not to dump crypto since its usually a fixed amount issued but hey keep dumping, I think its still high.

I think its already low, and its the dip of the recent dumps, don't expect for bitcoin to fall below $4000 again, let's be contended with the current price if we think of accumulating, as we might not know vaccine for COVID-19 is coming and bitcoin will start recovering again.

Its still a freefall so we can't decide whether we hit the bottom yet or now but for the last two days there is some positive sign on the crypto prices but this is not happening with stock markets so one who believes on cryptos and can afford for it will make huge profits in long term so buy now and wait for few years.

[Quidat]

This is probably a good time not to dump crypto since its usually a fixed amount issued but hey keep dumping, I think its still high.

I think its already low, and its the dip of the recent dumps, don't expect for bitcoin to fall below $4000 again, let's be contended with the current price if we think of accumulating, as we might not know vaccine for COVID-19 is coming and bitcoin will start recovering again.

Its still a freefall so we can't decide whether we hit the bottom yet or now but for the last two days there is some positive sign on the crypto prices but this is not happening with stock markets so one who believes on cryptos and can afford for it will make huge profits in long term so buy now and wait for few years.

Lucky i am to bought up btc when it hits that 4k low price.Im not sure if it was the bottom but i do risk up on accumulating while its cheap
and few days after then that risk taking action do really turns out well yet we have seen the price had slowly gradually increasing atm.
Im on profits now and tending to wait a little further before i do cash out to ensure capital then repeat the whole process.
It isnt just talking about losing money in dumps but theres actually an opportunity that it gives.