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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 3080 times)
Lmaooo
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September 14, 2017, 11:16:58 PM
 #1

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?

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September 14, 2017, 11:44:15 PM
 #2

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 think that only newbies are dumping their bitcoins due to panic.Its a regular reaction by newbies to such critical situations.But i think that most of others are just shorting by selling their bitcoins at today's price and they fully hope that bitcoin price would go down more so that they could once again buy more bitcoins at cheap price.They have clear knowledge that bitcoin price would rise after some time.This is not panic slling and this is termed as shorting.
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September 14, 2017, 11:48:06 PM
 #3

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 didn't dump or touched my bitcoin for now just like what I promised to myself that I won't be selling anymore until it reaches another new ATH that's good to me. We can't blame the people to get panic easily and it's happening all the time when there's a bad news, FUD's that are spread throughout the internet. People must be calm and just wait, simple as that.

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September 15, 2017, 12:13:15 AM
 #4

I'm also one of those who didn't dump my bitcoins and I agree with other members that it's newbies or people who don't have much knowledge of bitcoin and the market as how it works or has behaved in the past are dumping their bitcoin, they don't realise the mistake they are making and they will be the one's regretting the most in the coming days when bitcoin will recover and the prices will begin rising. The only advice which can be given is don't panic, keep patience and hold your coins.
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September 15, 2017, 12:15:48 AM
 #5

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

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September 15, 2017, 12:16:50 AM
 #6

I did dump it at around $4700, not that I had a lot to begin with.  I don't
regret it now.  I actually spent it (as opposed to selling it for cash).
The China thing has people spooked,  and I didn't figure it was going
to take much to puncture this bubble.  But then again, this could just
be a serious dip.  We'll see in a week or two if bitcoin rebounds.
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September 15, 2017, 12:37:22 AM
 #7

Obviously there is no real way of knowing but I am sure that a large majority of the dump is made up of Chinese investors. Currently one exchange is confirmed to be closing down and others may follow. The investors have really only one choice and that is to dump their coins whilst they still can. Of course some will also be from people who are panicking.

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September 15, 2017, 01:13:24 AM
 #8

I think the big volume of bitcoin sell-off is coming from China and the rest are coming from amateur traders. I'm an underdog in crytocurrency but selling digital assets at a very low price is just insane. I believe in crypto thats why I keep hodling my assets as possible, because dumping it will just make bankers pocket happy in the near future.

       
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September 15, 2017, 01:16:54 AM
 #9

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's a bit hard to tell who exactly is dumping Bitcoin, but whales and traders are usually the first to do so, and only after them come investors aka hodlers. So, maybe it's just some crazy speculation and manipulation and true hodlers haven't dumped yet. After all, there's no good reason to sell Bitcoin, it's pretty natural that some authoritarian government comes closer to banning Bitcoin, they are the same guys who banned Google and Wikipedia. The example of real panic and dumping would be if there was some bug in Bitcoin, or some developed countries like the U.S. or Germany has banned it.

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September 15, 2017, 01:47:16 AM
 #10

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 dont thinks it was everybody dumping bitcoin because we are here just monitoring and observing the situation. Well i believed it was the chinese people are the ones who dumping bitcoin because it was mandated by their government to do so. So maybe the huge volume of chinese people are doing the selling and thats make the bitcoin value declined. I just hope that there is only small percentage of chinese bitcoiners investors.
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September 15, 2017, 01:47:40 AM
 #11

Just let them dump their own btc and panic. I bet they  really don't know what's happening and thinking bitcoin will die.
And it's not everybody because  professionals members here are so used to this situation. It just means to them that it's time to buy.
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September 15, 2017, 02:04:34 AM
 #12

I did dump it at around $4700, not that I had a lot to begin with.  I don't
regret it now.  I actually spent it (as opposed to selling it for cash).
The China thing has people spooked,  and I didn't figure it was going
to take much to puncture this bubble.  But then again, this could just
be a serious dip.  We'll see in a week or two if bitcoin rebounds.

I can't believe you dumped it. Bitcoin will always rebound, never mind wait two weeks. It is a scarce digital asset with a deflationary monetary policy.

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September 15, 2017, 02:16:18 AM
 #13

I did dump it at around $4700, not that I had a lot to begin with.  I don't
regret it now.  I actually spent it (as opposed to selling it for cash).
The China thing has people spooked,  and I didn't figure it was going
to take much to puncture this bubble.  But then again, this could just
be a serious dip.  We'll see in a week or two if bitcoin rebounds.

I can't believe you dumped it. Bitcoin will always rebound, never mind wait two weeks. It is a scarce digital asset with a deflationary monetary policy.
This is tge time to buy more,For sure by December its value will increase, I will try to buy more once I got my salary. This is our opportunity. Been seeing the dump and pump scene even before.

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September 15, 2017, 02:17:45 AM
 #14

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

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September 15, 2017, 02:42:10 AM
 #15

Obviously there is no real way of knowing but I am sure that a large majority of the dump is made up of Chinese investors. Currently one exchange is confirmed to be closing down and others may follow. The investors have really only one choice and that is to dump their coins whilst they still can. Of course some will also be from people who are panicking.

It is clear that it is the negative FUD from Jamie Dimon and the possible ban from China. This is just temporary though as the price will bounce back.



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September 15, 2017, 02:52:12 AM
 #16

I sold a couple millions of satoshi yesterday to buy something that me and my friend wanted but never dumped every portion of my bitcoin and the network wasnt busy yesterday. Others might be dumping their bitcoin because they can't handle more losses. Bitcoin could go down as low as $2,000 imo.

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happyhours
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September 15, 2017, 02:59:15 AM
 #17

People are dumping because they cannot control their emotions that's why we should only invest what we can afford to lose so that we would not be prone to panicking.

cpfreeplz
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September 15, 2017, 02:59:38 AM
 #18

Newbies dump because they came in late and don't want to lose money. If they would just hang on and not treat bitcoins like a shitty penny stock we'd all be fine. I never sell. I'm doing a hell of a lot better because of it.
pinkflower
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September 15, 2017, 03:03:35 AM
 #19

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?

Its an overreaction from the market which is very normal in times of unpredictability. Some say its manipulation.

Dont some of you find it funny that the Chinese media is releasing small and unreliable news instead of an official statement from the PBOC? BTCC is also doing it.
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September 15, 2017, 03:11:43 AM
 #20

I didn't expect 10 no's and 0 yes, but I'm glad to see that result of voting until now. My answer is NO and I must share headline of one thread "hold your shields", you seen that, and that we should do now. Who is crazy to sell in 3000 dollars when price will go back on 5 and higher, nobody from here.
Headline of this thread should be changed, not everybody is dumping bitcoins, there is many of us here who don't feel panic from this big dip, votes are showing what community is thinking about dumping bitcoins.


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