How are you today $MATIC holders?

[Barbut]

You live by the FOMO, you die by the FOLO.

If this was a project you believed in, like the guy above, you would see this as an opportunity to increase your assets.

Just like the bitcoin people have been doing.

But you did see MATIC as a get rich quick ticket. You bought into FOMO. Naturally, now you...

PANIC

And you should. I would panic too If I were you. I know pretty much nothing about MATIC. The only impression I got is, I know that binance made it big and binance can make it small again.

Whatever let's get back to the point.

Panic is a good thing.

Panic raises your adrenaline levels.

Panic keeps you alive.

You are panicking because you know you did something stupid and you want to get rid of it.

I would get rid of this shit too If I had any.

So, Let's...

PANIC

Remember, If you don't panic high enough, the other guy will and you will lose even more money.

OP can lock this topic after this comment! Nothin smart can be said after this! I saw some MATIC hashtags on twitter, like you I don't know anything else about this project except a few tweets I saw, mostly huge promises that this project will go to the moon before other coins.
After a 50% drop in one day, I would sell too. Panic is healthy sometimes, it can save your life or your money.

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[efxtrader]

I knew this mega dump will come on $MATIC since it was already over bought since its price rally. I don't know the real reason why dump happened.

Anyone here can drop news related to this event?

Until now, the information that can be obtained is that there are panicked investors and dump tokens that they have that make the MATIC price fall more than 50%. Today there are several tokens and coins whose prices dropped dramatically today at Binance but what looks dramatic is MATIC

[kolonel_x]

I knew this mega dump will come on $MATIC since it was already over bought since its price rally. I don't know the real reason why dump happened.

Anyone here can drop news related to this event?

Until now, the information that can be obtained is that there are panicked investors and dump tokens that they have that make the MATIC price fall more than 50%. Today there are several tokens and coins whose prices dropped dramatically today at Binance but what looks dramatic is MATIC

https://blog.matic.network/foundation-token-movement-accounting/

This is an official statement from the MATIC team that there are indeed some big traders who panic then sell massively and there are also some who spread FUD on Twitter so this can conclude that you can judge that.
And they will also release tokens from the foundation.

[meliodas]

The holders of the matic are for sure screwed up big time because of the huge dump but if you caught the huge dip then you are one of the lucky fellow traders because for sure you are sitting for an easy profit in just a few hours after the dump. I am lucky enough to make at least 30% return from this huge dump which is a very good day for me since this happens rarely.

[OasisDre]

I knew this mega dump will come on $MATIC since it was already over bought since its price rally. I don't know the real reason why dump happened.

Anyone here can drop news related to this event?

Its over the news that binance is doing what they can to stop any further dumps or loss of value, honestly i never expected this from an IEO from binance exchange, its a really big severe blow to the face

[quality.crypto]

I knew this mega dump will come on $MATIC since it was already over bought since its price rally. I don't know the real reason why dump happened.

Anyone here can drop news related to this event?

Until now, the information that can be obtained is that there are panicked investors and dump tokens that they have that make the MATIC price fall more than 50%. Today there are several tokens and coins whose prices dropped dramatically today at Binance but what looks dramatic is MATIC

I don't know what happened to Matic suddenly why the price dropped to more than 70% in the morning. If really we see any active development from the team then definitely the price will manage to hold above the 300 sats level mark, of course, there are many other coins decreased their prices.

[Bananington]

I knew this mega dump will come on $MATIC since it was already over bought since its price rally. I don't know the real reason why dump happened.

Anyone here can drop news related to this event?

What do you expect from an altcoin after being over bought, more pump? Obviously NO! What happened is just normal, the pump was massive considering the bear market, hence need for this correction.  Action leads to reaction, hence after a big pump comes a big dump and the cycle continues. This is not new in crypto, as we've been seeing this pattern for a while. I actually told my friends holding MATIC three days back to be careful, after seeing a tweet from an influencer and decided to check the charts.

[vanya.pronin.1983]

I thought that team members just sold their tokens, a whole bunch within a short period of time. But not only from MATIC, generally all Binance IEOs dropped in price during several hours, maybe there is more to come.

[Soots]

I knew this mega dump will come on $MATIC since it was already over bought since its price rally. I don't know the real reason why dump happened.

Anyone here can drop news related to this event?

What do you expect from an altcoin after being over bought, more pump? Obviously NO! What happened is just normal, the pump was massive considering the bear market, hence need for this correction.  Action leads to reaction, hence after a big pump comes a big dump and the cycle continues. This is not new in crypto, as we've been seeing this pattern for a while. I actually told my friends holding MATIC three days back to be careful, after seeing a tweet from an influencer and decided to check the charts.

I expected that my coins that I hold for so long time to meet more possible pumps in the upcoming days of year 2020. We must grab the opportunity when it reached the top price in the future. Meanwhile, it must come to a point that the price will be neutralized with some particular changes which cannot be controlled. However, the scenario remained so tough and challenging as we waited for so long, so keep updated and be strong as time gets older.

[JCviggen]

now nothing is clear for what reason that happened, but in the network, people say that the project team has nothing to do with it. I think that in the coming days we will see official statements from the project team and they will tell what happened

[ansi]

It was plain simple market manipulation by big chunk MATIC investors.
MATIC reached All Time High (ATH), so it's more than normal to see dump (Taking Profit) whether with FUD or not.
MATIC i great coin to be honest, for the mid - long term it can be an easy $1+ or even more with the right mas adoption or partnership, remember Chainlink (LINK) that was $0.1 coin.

[valuater]

Very sad to hear the news about dumping price , whereas in the next few days I want to try to follow matic counterstake program to try my luck and because of this it seems I canceled my plan, hopefully a price recovery because of a 50% dump is a very painful thing.

[ACTrend]

Participated in the binance when drawing this coin. I sold everything at once, as I realized that this would not last long. I do not trust such coins. And that enter the market this way.

[ableh]

I didn't think MATIC would dump up to 50% in just 1 day, when i looked on Twitter there might be several reasons why the MATIC dump price. But i don't want to share about it for fear of FUD and please find a few tweets about this

Pump and dump to close with matic coin where jut few second can dump more than 50% and pump with the same amount, I like with coin active for trading like matic because many investor take participated there and I have check just few minute and good for trading with matic coin, we can get profit only with few minutes after checking with matic growing up and down.

Do you seriously like coins like this? If you are in a winning position, of course not a problem, but if you loss is definitely very difficult to recovery. Indeed this kind of coin is very fast to get profit, but one thing you need to know, usually this can happen because there is manipulation or other bad news, so you have to still be careful.

[yangongear]

I feel so good to see that dump and that was created by the team and then dumped it to the binance

https://twitter.com/LegitoCrypto/status/1204262510225850368?s=19

matic team is a fuckin money whore.

50% drop just in an hour is the worst thing that happening right now. I believe more to come.

some people lose a lot of money in TG group.

CZ corrected that the Matic team did not do this and that all their tokens were still in their wallets. Maybe some big boys have panicked and sell off simultaneously, causing the price of Matic to drop so deeply. I have tried to short Matic since last night on binance but they have disabled this function.

[sazonk]

very surprised in the last 24 hours to see how exciting the market matic is, but here I see the direction of this matic bleum clearly, still smells of manipulation by the whales, last night I helped buy a little matic then sell it back, so great temptation to buy again and again , I'm afraid that it will end up getting worse. Ahahahaha. Therefore I use assets to buy matic which assets are relaxed assets, so when there is a loss there will not be so sorry.

[FerdinandBol]

What do you expect from an altcoin after being over bought, more pump? Obviously NO! What happened is just normal, the pump was massive considering the bear market, hence need for this correction.  Action leads to reaction, hence after a big pump comes a big dump and the cycle continues. This is not new in crypto, as we've been seeing this pattern for a while. I actually told my friends holding MATIC three days back to be careful, after seeing a tweet from an influencer and decided to check the charts.

I have seen many people talking about ''the obvious dump'' after the fact. I have only seen one guy publicly announce his short at ATH: https://twitter.com/MikeMcDonald89/status/1203023964668399618

[jacafbiz]

I have a feeling Binance is exiting some of their IEO tokens, the recent rally was not base on any fundamentals and when you see a pump and dump like this, it is likely that some Whales or exchanges are trying to empty their positions. There are proofs that the team has been moving their tokens recently if they make use market makers to help sell we don't know

[Mammothcoin]

It is only normal for an overbought position/token to correct or at least experience a pullback.  This is actually a good opportunity for those that have been looking to get a position on Matic to buy.  I would suggest you waiting for reversal signs indicating movement towards the upside to prevent catching a falling knife.

[BitHodler]

I'm afraid that it will end up getting worse.

It probably will. Some large hands have liquidated their positions, which likely means that they are done providing buy support and will move on to the next low market cap coin to pump and dump in the exact same way.

I get why people are excited to buy the dip, but the dip people plan to buy is still well above the price it traded for before the pump, which means that there is still more room to the downside in the coming weeks or months.