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Poll
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 3066 times)
metenjean
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September 15, 2017, 08:14:27 AM
 #41

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?
People dont just dump their bitcoins, it took massive amount of money to make the market decreased almost $1500 dollar in 4 days, i think the bitcoin was just overpriced and the news impact from china just making it worse, perhaps its temporary and i do still believe that bitcoin will gain more strenght this year, but not in a short period. So why would you catch a falling knife? I think its better to re-invest the bitcoin when the price become more stable after the sharp decline, when others are fearful then be greedy  Grin

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September 15, 2017, 08:18:21 AM
 #42

1. Traders are using these news to reduce the average cost of their coins in hand (sell high buy low), which is very logic and the right thing to do;
2. Non-believers just panic and stop loss;
3. Margin traders were forced to close the trade;
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September 15, 2017, 08:49:47 AM
 #43

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?
People dont just dump their bitcoins, it took massive amount of money to make the market decreased almost $1500 dollar in 4 days, i think the bitcoin was just overpriced and the news impact from china just making it worse, perhaps its temporary and i do still believe that bitcoin will gain more strenght this year, but not in a short period. So why would you catch a falling knife? I think its better to re-invest the bitcoin when the price become more stable after the sharp decline, when others are fearful then be greedy  Grin
I think that mainly the people in China are afraid that soon they will not be able to sell thier coins anymore.
So they throw everything on the market, and take what they can get.
That increased supply swashes over into the rest of the world with the consequences we see today.

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September 15, 2017, 09:04:23 AM
 #44

I don't think the reason why people are dumping is far fetched and I agree that quite a number of newbies are involved but that's not all even pros who have stayed longer than even most of us are really trying to cut their losses. For the newbies, I font blame them as panics sets it, I have been there where I had tobsell off simply because I couldn't get access to my on-line wallet at the time but such decisions are what I hated the most.
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September 15, 2017, 09:29:00 AM
 #45

while the price dropped faster the last option for save our money is immediately sold the bitcoin because to avoid lost money this thing is necessary so i think this is the cause why more likely almost every people currently decide to dumping their bitcoin also with these situations will makes people sligthly doubted to buy bitcoin more because there is a chance this dumping hasn't stopping yet

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September 15, 2017, 09:40:24 AM
 #46

Because the bitcoin price is dropping really fast. In just 3 days it went from 4.3k to 3k. Wich is unreal. And bitcoin is still falling so the smartest thing to do right now is to sell the bitcoins you made.
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September 15, 2017, 10:38:43 AM
 #47

according to the vote made here, I think only 1 person has sold the BTC that it owns. 18 other voters still did not sell. it is not a voting that can explain this situation but in the end I can make the following prediction .. bitcointalk users and followers are more knowledgeable in this regard than other bitcoin investments.I wanted to say that I can not understand that all the other people are affected by the sales, but these events are totally dependent on each other like a chain because bitcoin investors are afraid to not convert the bitcoins to fiat they have because of the government's decisions, they have made such a decision and have chosen to sell what they have.but people in other countries could not accept the idea that such a decision would not affect them.
and as a virus spreading all over the world, prices have tilted to this level.






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September 15, 2017, 10:42:27 AM
 #48

many forex brokers now allow traders to short bitcoin. previous to this btc only fell when you guys sold more than you bought. now professional traders can short btc - and they are, in big numbers.
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September 15, 2017, 10:47:21 AM
 #49

Because the bitcoin price is dropping really fast. In just 3 days it went from 4.3k to 3k. Wich is unreal. And bitcoin is still falling so the smartest thing to do right now is to sell the bitcoins you made.

The price is artificially adjusted and now there is such a sharp decline due to bad news in China. I do not think that it would be a sensible decision to sell coins at a very low price and still lose money.

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September 15, 2017, 10:58:36 AM
 #50

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?

People are panicking now because they're afraid of China's actions against crytpcurrencies and bitcoin exchanges.
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September 15, 2017, 11:03:27 AM
 #51

They are dumping their bitcoin because they think and believe that everything is gone wrong in bitcoin because there is a lot of bad news in the internet right now about the hate of china in bitcoin and they are now banning different exchanges and that is a huge effect in bitcoin and it will make the price lower in the future if the news will continue.

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September 15, 2017, 11:04:37 AM
 #52

Hell no!
Bitcoin has been through it's ups and downs and it's already been proven itself in the market so this are just another rainy days in cryptos. I won't touch my coins to give money to these whales. These are all fuds so I'll just use this to buy more coins to add to my portfolio. Panic sell is just for the weak hands.


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September 15, 2017, 11:06:23 AM
 #53

I think the procent of people that are dumping BTC for good is really really small. Most people are dumping because they think the price will go lower so they can rebuy more.

On this ups and dips a lot of money are lost and a lot of money are made and this is a good thing, because all the smart money will remain in the system and the dumb money will be long gone.
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September 15, 2017, 11:07:29 AM
 #54

those who "will never sell" their btc - i implore you to read some economic history about financial bubbles

..........if you're answer to that was "no, i dont need to/ that's not btc" - then you are in denial. i mean it doesnt hurt your position to read a book does it?
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September 15, 2017, 11:13:12 AM
 #55

I think the procent of people that are dumping BTC for good is really really small. Most people are dumping because they think the price will go lower so they can rebuy more.

On this ups and dips a lot of money are lost and a lot of money are made and this is a good thing, because all the smart money will remain in the system and the dumb money will be long gone.

i think the same like you because when i see in market, poloniex and bittrex, it seems there are middle trader is involve in dumping and they are selling their bitcoin to prevent loss. maybe they have another purpose like you said and i am sure that they are know making profit because the price is up and down too fast.

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September 15, 2017, 11:44:48 AM
 #56

Some panic people are selling their bitcoins and altcoins for loss, of course, this kind of price dump will scare everyone. And some more people are why they are dumping means to buy more bitcoins. They are using strategy to sell and buy bitcoins. They are converting it into USD when the price is stable that time they will buy again this is what happening in the present market.

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September 15, 2017, 11:48:15 AM
 #57

while the price dropped faster the last option for save our money is immediately sold the bitcoin because to avoid lost money this thing is necessary so i think this is the cause why more likely almost every people currently decide to dumping their bitcoin also with these situations will makes people sligthly doubted to buy bitcoin more because there is a chance this dumping hasn't stopping yet

That is right. A person dumping bitcoin because they panic that they will lose money they invest during the price is low and think that it will be better to sell it than holding it. For me, it is the given time for the opportunity to buy bitcoin because of it's low price so that can have more chance to gain profit when the time that the price become high.

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September 15, 2017, 11:51:20 AM
 #58

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?

China is not the cause of people selling bitcoin. The words of a CEO who leads the nation's largest bank in the United States is the real cause. He had a loud voice that bitcoin was a hoax, with his status, his words influenced everyone, so they sold the bitcoin in a panic way.

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jonsi
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September 15, 2017, 12:01:30 PM
 #59

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?

China is not the cause of people selling bitcoin. The words of a CEO who leads the nation's largest bank in the United States is the real cause. He had a loud voice that bitcoin was a hoax, with his status, his words influenced everyone, so they sold the bitcoin in a panic way.


Do you really belive this? I'm assuming that you are talking about JP Morgan CEO, Jamie Dimon. This dinosaur couldn't move the cryptocurency market a few cents with his statement. He called bitcoin a scam, so this proves how little does he understand about the new economy.

On the other hand, when Wall Street says that something's a scam (to be translated as something that they can't controle), than you know that you have to buy.
fishbonez11
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September 16, 2017, 04:51:14 AM
 #60

I didn't dump my bitcoin in this great decrease of bitcoin price and am not planning to touch it any soon from now. What I'm more interested in doing is to buy more so I can get a greater return when the prices rocket up hopefully. I can't blame others to panic though. It would be counted loss if their money depreciate.

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