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Question: Did you dump your Bitcoin?  (Voting closed: October 14, 2017, 11:16:58 PM)
Yes - 2 (4.1%)
No - 46 (93.9%)
Not sure what to do - 1 (2%)
Total Voters: 49

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Author Topic: Why is everybody dumping Bitcoin?  (Read 3078 times)
wowanstrong
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September 20, 2017, 03:28:50 PM
 #101

I did not sell my bitcoin since I'm sure it's a temporary panic. While newcomers are selling their coins cheaply they can be bought and then it is good to earn when the price grows high enough.

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Akash1243
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September 20, 2017, 03:41:12 PM
 #102

I was sure that it was a temporary drop caused by panic due China banning ICOs.Anyone would is following bitcoins for a while would know that best time to buy bitcoins is during the dump, but newbie starts panicking and sells their bitcoins.After some time bitcoins price will rise like it always do.There have been lots of dumps in past so I have learned my lesson that bitcoins will always rise.
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September 20, 2017, 03:52:02 PM
 #103

This is different case, the china want to banning Bitcoin and all the exchanger will be closed down, with that situation the investors from China will have difficulty to exchange crypto currencies, so like it or not they were forced to sell the coin because it will be very troublesome to exchange crypto currencies with Fiat in the future, so most of the dump is coming from China investors

 I've heard that thw goverment of china are seriously declare a war againts cryptocurrency. They already ban ICo and indirectly ban bitcoin after the goverments anounce to close exchange on china. There is also a rumors that china will block everything that having a relation to cryptocurrency, IP, VPN and others. Because of that, I agree that most of the dump is coming from china based on the possibility will become difficult to cash out their cryptocurrency if the goverment plans already happen. So they dump it immediatly.
You give up a good income? The Chinese will never give up on such income. They will transfer their money to other countries and will earn on other exchanges. The miners will move the equipment to other countries. It is not difficult. Such a decision affected only China.
Yeah, that's right. The Chinese government did not banned onwner exchange transfer their money to other countries to partner. Therefore, if they can do that, do you think Korea, Japan or India will be good place for them Tongue?
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September 20, 2017, 04:03:03 PM
 #104

According to an old Wall Street saying, "Financial markets are driven by two powerful emotions, greed and fear." The same applies to Bitcoin, in a highly volatile free market, if you ignore the fundamentals and rely on short-term profits, FUD happens, fear happens, instant reaction is to sell at whatever price. Panic sellers.

Good thing, greed or a better term, hope. A panic seller's loss is another hopeful person's gain who relies on fundamentals and has a broader long-term view.

The Chinese FUD ain't over yet.

meliodas
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September 20, 2017, 04:13:23 PM
 #105

I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?

I've done it too, when I was a newbie. I can still remember when I first invested on bitcoin when it's price was just $500. I usually panic if it drops to $50. I quit bitcoin because it dropped a hundred, which I admit was a terrible mistake. If I was able to hold my bitcoin that time or even just forget about my bitcoin, I could've earned thousands of dollars by now.


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karmamiu
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September 20, 2017, 04:14:49 PM
 #106

                       A lot might happen but we cannot blame someone if he or she dumps his/her bitcoins, maybe they had their own reasons. That is also why the most conflicts related in investments are most probably their emotions on how to handle problems, instead of thinking properly they will just instantly dump their investments not thinking about the next day to come.


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dunfida
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September 20, 2017, 04:19:24 PM
 #107

I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?
It cant really be avoided people would normally panic when they heard of such news like we saw on China. People do tend to secure their profits first this is why they do dump.Some securing money some are cutting loses well this thing is just really a normal thing for me and its not really a surprising thing but eventually we didn't really see a hard dump because after of price decrease now the price have recovering up again.

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September 20, 2017, 04:24:35 PM
 #108

It's not everyone it's just china , i don't know if you are aware but china has decided to block all exchanges in the region because of this most people residing in china have decided to sell their bitcoins. If there won't be any exchanges what's the use of holding bitcoin it's better to sell it



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Samarkand
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September 20, 2017, 04:32:42 PM
 #109

According to an old Wall Street saying, "Financial markets are driven by two powerful emotions, greed and fear." The same applies to Bitcoin, in a highly volatile free market, if you ignore the fundamentals and rely on short-term profits, FUD happens, fear happens, instant reaction is to sell at whatever price. Panic sellers.

Good thing, greed or a better term, hope. A panic seller's loss is another hopeful person's gain who relies on fundamentals and has a broader long-term view.

The Chinese FUD ain't over yet.

Financial markets are heavily influenced these days by trading algorithms and bots - two things that don´t have
emotions like greed and fear and never panic.
Financial markets therefore have changed tremendously in the last 20 years and are not
comparable at all to the traditional financial markets at the beginning of the 20th century.


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September 20, 2017, 04:42:17 PM
 #110

I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?

Most newbies would panic, because they don't know what's happening. It happened a lot in the recent years. So, for newbies info it's not a good idea to panic and dump all your bitcoin just because it dropped. Bitcoin started with just less than a dollar and see how it grew in years it costs thousands of dollars now.
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September 20, 2017, 04:56:06 PM
 #111

Let the newbies dump their bitcoin during FUD. While they dump, you buy their bitcoins. I am in bitcoin for long term. I do not care if it dips once in a while because in the long run it will be pumped and reach new ATH.

A great opportunities for us from those newbies who sold their coins for us, and also we've been rewarded in the future for our eagerness to invest for their coins sold at cheaper value. Possible dips will occur because dumps from weaker hands happened all the time, and newbies don't have to learn if they won't be experiencing failure of trades, so better chances for us highly experienced traders will come a long way to gain profitable earnings.

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September 20, 2017, 05:04:29 PM
 #112

As a former newbie in bitcoin, traders on the other side won't succeed without passing the road of failure. As if it was destined to us to feel been betrayed by our own weakness but it is what makes us stronger, it teach us not to see failure as a hindrance but as an opportunity to learned something with it.
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September 20, 2017, 05:22:39 PM
 #113

I was sure that it was a temporary drop caused by panic due China banning ICOs.Anyone would is following bitcoins for a while would know that best time to buy bitcoins is during the dump, but newbie starts panicking and sells their bitcoins.After some time bitcoins price will rise like it always do.There have been lots of dumps in past so I have learned my lesson that bitcoins will always rise.
then the dump was made by the big whales , i heard about jp morgan games , they are creating panic situation to but it cheeps in the next days. what a shame , actually it was an old style , but nobody can confirm yet about this.

the dump in any market will always happened at some point , you just need to be more clever than anybody!
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September 20, 2017, 05:48:37 PM
 #114

According to an old Wall Street saying, "Financial markets are driven by two powerful emotions, greed and fear." The same applies to Bitcoin, in a highly volatile free market, if you ignore the fundamentals and rely on short-term profits, FUD happens, fear happens, instant reaction is to sell at whatever price. Panic sellers.

Good thing, greed or a better term, hope. A panic seller's loss is another hopeful person's gain who relies on fundamentals and has a broader long-term view.

The Chinese FUD ain't over yet.

Financial markets are heavily influenced these days by trading algorithms and bots - two things that don´t have
emotions like greed and fear and never panic.
Financial markets therefore have changed tremendously in the last 20 years and are not
comparable at all to the traditional financial markets at the beginning of the 20th century.

Influence and outcome is different. Did the bot invest or did the bot set the stop-loss? Finance is the same, 20th or 21st century, you see a loss, you cut loose at a loss or even. You see a growth overtime, you stick, basics. Nothing to do with bots, strings are still humanly, fear, greed/hope.

lanyounanhai
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September 20, 2017, 06:10:13 PM
 #115

Let the newbies dump their bitcoin during FUD. While they dump, you buy their bitcoins. I am in bitcoin for long term. I do not care if it dips once in a while because in the long run it will be pumped and reach new ATH.
I agree with you. Most of dumper are newbies and that is the reason why the price of bitcoin always decreases when there is a new FUD

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September 21, 2017, 02:34:14 AM
 #116

I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?

maybe the person tersaebut is needing money then people sell its bitcoin, but it does not last long, just a matter of days bitcoin prices back peaked, it has been proven this statement is true a few days ago, if you know total supply bitcoin is very limited and still little people who know about bitcoin, if everyone knows about bitcoin then the more expensive price.

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September 21, 2017, 04:46:45 AM
 #117

Not everybody but only those people who got panic everytime there is a bad news spreading that makes the situation even worst. We can't really stop them on selling, first of all it's their own btc and they let their emotion act first.
Golftech
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September 21, 2017, 04:54:22 AM
 #118

Not everybody but only those people who got panic everytime there is a bad news spreading that makes the situation even worst. We can't really stop them on selling, first of all it's their own btc and they let their emotion act first.
its almost same scenario when weekends are approaching seems that someone needs money to party out and they cashing out their earnings from the panic sellers which been victimized by this manipulators, not all are selling their are still wise traders and investors that holds until they met their target value. so be very careful with your action.

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September 21, 2017, 05:26:32 AM
 #119

Poor news in China making people worry, JP Morgan slamming BTC also.

Price is influenced by news, keep an eye on that and you'll see why it goes down.

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September 21, 2017, 05:38:39 AM
 #120

    

JThe reason why China and other bankers wants to stop or regulate bitcoins is because it has no legal basis.  And I think, they are partly right as there are no existing laws that governs Bitcoin earnings and the way it was spent... So I guess, their reasons are valid in a way.
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