Major dump started like 5 minutes ago

[thecodebear]

BTC down to low 8000s right now

[jackg]

Yeah I have no idea where its going to go from here personally. I expected a dump to happen after the halving and we probably will see one (more brutal than this) but weight recover a bit first...

A lot of people expected a drop to 9100 on the half hour Timeframe but we spectacularly broke that...

We were at 7000s-8000s range for so long, a drop to here is probably actually pretty healthy for now if we don't shoot through it in a few minutes/hours/days.

[BlackFor3st]

BTC down to low 8000s right now

This is what I am afraid of because the traders didn't care much about the bitcoin price because they are only executing their plan just to gain a profit in every turn of the market price. It is pretty difficult to create a one way push and it is pretty normal base on what I have notice on how the market works for several years that I keep on monitoring it.

As long as the dump is not that deep then we don't have to worry about it because in the following days the market will surely to recover knowing that the halving is getting closer and closer as days passes by.

[thecodebear]

Yeah I have no idea where its going to go from here personally. I expected a dump to happen after the halving and we probably will see one (more brutal than this) but weight recover a bit first...

A lot of people expected a drop to 9100 on the half hour Timeframe but we spectacularly broke that...

We were at 7000s-8000s range for so long, a drop to here is probably actually pretty healthy for now if we don't shoot through it in a few minutes/hours/days.

Oh absolutely it is very healthy. The price definitely needed to drop back to around 8000. This drop probably took the strength out of any post-halving drop that may have occurred next week. No idea what will happen in the next week. No doubt the powers that be will be competing to pump it and dump it, will be interesting to see who wins. I'd guess serious volatility from the 7000s to 10,000s the next few weeks.

[STT]

Coming back to 200 day average is bigger then I expected on a weekend, swung right past 8 day but its a good move to retrace the move of the last week or so which was rapid.    I'm slightly surprised that 10k is the top but that was in the area of a trend in place since the bottom so we've in the realms of a reasonable normal move.

Was there any event news to match the sell or its purely technical profit taking ?   30 day average is 7800 roughly and 7500 for 50 day, a very harsh sell would be 6000 an older daily trend and a decent area of volume in this recent recovery.

[Wexnident]

Hmm I guess it was kind of expected? I mean, the price just went up continuously nonstop, a dump was bound to occur sooner or later. It'd probably naturally recover to at least around $9k or so before resuming its steady growth. Though in this case it most likely depends on what the halving is going to bring upon the market in the short term. If miners were to start HODLing their coins to wait for a good price for them to dump so they can at least recover their future expenses, then a good recovery would await us in the short term but then again there may still be a much larger dump after that.

[Twinkledoe]

Coming back to 200 day average is bigger then I expected on a weekend, swung right past 8 day but its a good move to retrace the move of the last week or so which was rapid.    I'm slightly surprised that 10k is the top but that was in the area of a trend in place since the bottom so we've in the realms of a reasonable normal move.

Was there any event news to match the sell or its purely technical profit taking ?   30 day average is 7800 roughly and 7500 for 50 day, a very harsh sell would be 6000 an older daily trend and a decent area of volume in this recent recovery.

I think there's no major event why the sell off. More of traders wanting to get profit. But it looks like the price will go up again, either before or after the halving. Whales are taking advantage of the situation. Many will get rich in the coming days esp those who know how to strategize their trading because of this halving event.

[okala]

The relatively straight index has been shown over on the four hour and daily chart for some days now and if not how volatile bitcoin is we should expect nothing but dump and that is what happens.

[rodskee]

BTC down to low 8000s right now

Days before Halving we had this another major dump,this is very sudden because the last
 thing that i would think to dump is today.supposedly
 pumping is what happening now but reversed comes,but I don’t lose hope because we have
 this market movement for how many times just this year
 alone so growth might come the next days or another dump who knows?just let it be and
 i am ready to purchase again once the price falls down to 7k$ again.

[pooya87]

I expected a dump to happen after the halving

this seems to be a common expectation on every halving. at least the last two that i have seen. and the thing is that the dump comes before halving not after it. and the reason is always because of the hype. people buy when hyped up and sell as the hype wears off. it is also obvious from the chart as there is a big ass red candle showing the ~14% drop in less than 3 hours.

[Oasisman]

I don't know exactly what happened there, but surely this is like a massive sell out from the whales? I could be mistaken, but Bitcoin was just swinging from almost $10,000 to $9,800. With the sudden dump, this was an unexpected to happen before the halving. If this has been caused by short traders, a -10% drop might be too big for that.
Anyway, dump is already been expected, but It came in too early? Though this is not a major dump anyway.

[michellee]

I don't know exactly what happened there, but surely this is like a massive sell out from the whales? I could be mistaken, but Bitcoin was just swinging from almost $10,000 to $9,800. With the sudden dump, this was an unexpected to happen before the halving. If this has been caused by short traders, a -10% drop might be too big for that.
Anyway, dump is already been expected, but It came in too early? Though this is not a major dump anyway.

Now, the price is down for $8,800 level so it might down again in the next week. But we hope that the price will not go down too far. At this moment, many people panic because the price can down for more than $1k in just one day, but we already see the price start to go down in a few days ago. I think the dump is at the right time, and maybe it is like a reset button for bitcoin price, or we will see a major dump later. The market still in unpredicted situations, and I hope we can prepare for the best.

[LogitechMouse]

Common movement for Bitcoin for me.

I think this tend to happen before or when it is a few days only before the halving happens. For some this is a pre halving dump of Bitcoin and I expect that there will be a post halving dump and it will happen after halving. Nothing new for me as I saw more drastic downside movement of Bitcoin and TBH, what happened last month is way worse than this dump. Right now the price is slowly recovering already at the 8500-9000$ price so yeah the dumping is over and we will see a slow rise in the next few days.. or is it .

[casperBGD]

Common movement for Bitcoin for me.

I think this tend to happen before or when it is a few days only before the halving happens. For some this is a pre halving dump of Bitcoin and I expect that there will be a post halving dump and it will happen after halving. Nothing new for me as I saw more drastic downside movement of Bitcoin and TBH, what happened last month is way worse than this dump. Right now the price is slowly recovering already at the 8500-9000$ price so yeah the dumping is over and we will see a slow rise in the next few days.. or is it .

could not disagree, but did not expected it, so what a heck, wait for second dump after halving to strengthen my portfolio, dump after halving should be expected, even with this one happen?

[ultrloa]

BTC down to low 8000s right now

That's not major dump for me since we have seen a bad dumps which is totally bad than this so maybe just try to relax if you are afraid with this since for sure this dump is temporary since we have halving coming on its way and provably we will see a good pumps rather than bad dumps when this event occur.

Also try to see the price is much good compare to several months.

[Slow death]

this cryptocurrency market is scary:



in 30 minutes we had a dump like this, in the past i've seen a bigger dump in a few minutes. it seems that people who theorize about the existence of whales manipulating the price may be right, I am more and more convinced of this and if this continues it will only be causing many to lose money and hope

3 Reasons for the Bitcoin Price ‘Halving Dump’ From $10K to $8.1K

Whales quickly moved to sell BTC at the point of rejection

we are really lost with these whales

[BrewMaster]

I am more and more convinced of this and if this continues it will only be causing many to lose money and hope

the problem with manipulation is that it can't be done forever. at some point people catch up and learn about how it works and go against it and make even more money while the manipulators lose money. it is like 2017 when a large group of big whales were trying so hard for about a month to dump the price and ended up broke due to the huge amount of money they lost trying to go against the market.

the dumps like this 30 minute one are usually because of the bots and stop losses of the panicky traders who place them in a way to "panic sell" automatically when there is a drop starting.

[Lucius]

Just as the pump happened a few days ago, so did the dump - nothing new for BTC, a change in price like this is quite common. The dump usually happens over the weekend which was the case here, apparently in an attempt to catch most people unprepared. This looked like a very well-prepared bull trap that used halving as bait, and there is no doubt that a lot of small fish were caught on that bait.

Yet at this point, $8500 seems to have been the bottom line, and we are slowly recovering. Maybe some are disappointed, but let's remember that 2 months ago when the situation looked much worse than today and I don't think anyone should be ungrateful that we actually returned to the level where we were before the big dump.

the problem with manipulation is that it can't be done forever. at some point people catch up and learn about how it works and go against it and make even more money while the manipulators lose money.

Not forever, but maybe for a very long time. Aside from the fact that some people learn from their mistakes, there are always some new ones coming who have no experience and become weak hands whenever they get caught in a trap. I may not even blink an eye at something like this, but someone who has invested recently will definitely be in a panic when he sees that he has lost 10% overnight.

[carlfebz2]

BTC down to low 8000s right now

That's not major dump for me since we have seen a bad dumps which is totally bad than this so maybe just try to relax if you are afraid with this since for sure this dump is temporary since we have halving coming on its way and provably we will see a good pumps rather than bad dumps when this event occur.

Also try to see the price is much good compare to several months.

Come to think that people arent really that talking much when bitcoins price tend to rally or do shows up a green big candle but when the times when dump happens then lots of
speculations and presumptions floating around.Come to think that this is just a few percentage dump and just like a typical day in crypto where price can go down $1k in a short span of time.
Lucky for those who do set take profits in 9500-10k and just waiting up for some correction and it did really happen. 9k support is already a good spot but the price dip down even way more better.
We cant even tell if this one would be the new floor before the price shoot up in 5 digits once again?

[Reid]

It freaking went to heaven for just 2 days. 

That was expected though.
It was also fast when it went to 10k.
7.7k in April 28 and then 10k May 7. It was just 10 days. Some will say this is just another correction.
But for me, it was profit already for that stimulus check they used.  They are just taking it.