Major dump started like 5 minutes ago

[btc_angela]

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.

We can't really be sure if those who have received the stimulus package put everything in bitcoin market. I highly doubt that theory, anyways, $8700-$8800 is the current price, are we expecting another dump pre-halving? Maybe I have the misconception that the dump should be happening right after not before, so I was wrong. So it's clearly some sort of manipulation again and many has fallen for the trick. And when we hit that mental barrier of $10k, time for the whales to get their profit. There is still a scenario that if bitcoin fell after the halving, $7700 will be a good support level for a bull run. So let's see how the market will move post-halving.

[Smitty Werben Man Jensen]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

[Findingnemo]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

The price fall on altcoins are also just similar to the bitcoin dumped value's so I don't think we should feel too low now, we also need to consider how much the prices were a month ago so still its a great recovery from the pandemic and good bull run when halving event is going to happen.

[$crypto$]

Could this be a pope's trap before halving happened so many traders were panicking?

This decline is quite short where all the crypto market prices are going down quite high and yesterday I was expecting 10k bitcoin or it didn't happen and now it even goes down I don't know what news is with bitcoin?

But here I will think positively where bitcoin will recover after halving. I am sure this is only temporary and will not be long so I better not panic in dealing with things like this.

[justdimin]

Calm down, bitcoin went under $4k and it still managed to go above $10k, do not panic like this, haven't you learned anything even just from the past 3 months, let alone the past 3 years? Bitcoin is something that goes down and goes up, if you are fearing about the price when its going any direction, that means you really don't know much about bitcoin at all. Just focus on when it will get back, buy some more when it is lower and just try to wait until it goes back up, keep buying as long as it is lower, and it WILL go up eventually.

I am not really believing this fall is something that is long term, I think this was a short term fall and the price will go back up above $10k quite quickly as well, so I am not moving at all, I am in profit anyway since I bought at $6k.

[judaspriest]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

The price fall on altcoins are also just similar to the bitcoin dumped value's so I don't think we should feel too low now, we also need to consider how much the prices were a month ago so still its a great recovery from the pandemic and good bull run when halving event is going to happen.

for Bitcoin is still reasonable, but for Altcoin it's already REKT, why? because you can see when the price of Bitcoin fly to $ 10000,
but Altcoin there is no increase and tends to be stable, different when we were in 2017, Altcoin gave a positive trend too

[ecnalubma]

What can we expect after the dangerous spike, expect a hard dip at anytime without a warning. Most likely a common scenario in crypto market, but this type of scenario always opens opportunity for new entrants then another cycle will follow.

[STT]

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.

Consensus drops the markets, everybody wants to imagine whales that dictate markets and secret smokey back rooms full of people who arrange the price.    Every whale has to live in the ocean, with tides and waves and natural effects that swamp even the largest of players.   Bigger then every group of BTC traders is market consensus, what could focus us right now is easily this 10k figure.
    Personally I dont rate 10k as a big deal but certainly its a round number, a switch from 4 to 5 numbers and in perception it appears as enough of a bump in peoples brains to have a wide range of people setting their orders and stop loss sells to around 10k.    Perhaps some clever soul realised they could trigger a waterfall by pushing on these collected sell orders at just below 10k, I dont know exactly but it doesnt really matter as it was the people in their anticipation not the few who moved the price in all likelihood.

I'd call out the weekend setting for this move as significant and I think we need to repeat what was done on the weekend, also we see working week traders and volume work through these prices and decide direction.   This isnt that big of a deal just yet, likely I still expect we are pinned near here for the halvening event.

[Findingnemo]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

The price fall on altcoins are also just similar to the bitcoin dumped value's so I don't think we should feel too low now, we also need to consider how much the prices were a month ago so still its a great recovery from the pandemic and good bull run when halving event is going to happen.

for Bitcoin is still reasonable, but for Altcoin it's already REKT, why? because you can see when the price of Bitcoin fly to $ 10000,
but Altcoin there is no increase and tends to be stable, different when we were in 2017, Altcoin gave a positive trend too

Don't see the price value, just look at the price growth percentage of altcoins, most of them even ahead of bitcoin in the recent price surge but some coins didn't get enough price growth such coin like XRP and there are some analysis says this is the last chance for the bag holders of some coins to exit the market.

[TopTort777]

I dont count that 1000-1500$ as a major dump. Probably just a return to where we were few weeks ago. Or just some whales decided to fix their profit.

If you’ve entered the market few weeks ago, then you probably should hold and wait when the price will return.
Imagine what people feel who bought bitcoin this March? They are smiling wide reading this topic

[ScamViruS]

BTC down to low 8000s right now

I was waiting for such a dump this was a pre-halving pump. Everyone thought it would be such a dump, but everyone thought it would be after halving. So everyone was preparing and buying for it. And using this hype, the whales played the game. Those who traded in the spot market they did not suffer much loss due to this dump and they would recover in the near future. But those involved in margin trades and futures trades have suffered huge losses this dump has been done to liquidate their position.

However those like me who are interested in long-term hold. They do not run after such short term hype. So increase your holding, accumulate more bitcoins in each dip and prepare yourself for the next bull run.

[Febo]

BTC down to low 8000s right now

I was waiting for such a dump this was a pre-halving pump. Everyone thought it would be such a dump, but everyone thought it would be after halving. So everyone was preparing and buying for it. And using this hype, the whales played the game. Those who traded in the spot market they did not suffer much loss due to this dump and they would recover in the near future. But those involved in margin trades and futures trades have suffered huge losses this dump has been done to liquidate their position.

However those like me who are interested in long-term hold. They do not run after such short term hype. So increase your holding, accumulate more bitcoins in each dip and prepare yourself for the next bull run.

Originally should be before halving but because of covid-19 recession all got postponed and we expected bear trap will happen after halving at higher price then $10000. No we will most likely stay where we are or lower for few weeks. Then who knows maybe recession will strike big or somehow we will have a V shape recovery and Bitcoin price will recover as it was originally planed.

[jhonjhon]

A little bit surprise for me coz I'd never think it drops like that as the halving on its final moment. I thought we are going to surpass $10k but that seems we are getting back to $7k and I say that people are right saying it was a trap. And I was thinking that also.
Anyway, I like the drama now, have nothing to wait longer as the market drops, it is also our chance to buy more cryptos.

[danherbias07]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

I thought it was going to be the time for Ethereum to break a resistance once again.
Sadly, it also went down after the bitcoin dump.

My portfolio of ERC20 tokens are also doing good at that time but now I haven't sold anything.
Now back to being patient and waiting for another pump to come.

[carter34]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

There is hope. It is normal to buy altcoins when bitcoin rises and to me you have not taken a bad marketing decision because we know this that bitcoin price influence altcoin price too but the difference to your decision of buying is you didn't research on why bitcoin is going up because if it has no cause of going up, there are big chances it could drop maybe it is just a pump from panic from orders placed in exchanges. But now that halving is here, buying can be profitable. Wish you good luck on whatever decision you take.

[STT]

I noticed OBV indicator has us moving down to 7500 on volume, I dont know I expect that must happen but generally there was enough sell volume to consider the price in recovery and requiring more work short to medium term.    My target would be 50 day average which is below 200 ma and into the 7000's.   If we can get past 9000 near term thats the start of some positivity short term and that can build but for the moment its reasonable to skeptical I think.
Recent lows are 200 DMA

[Taskford]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

There is hope. It is normal to buy altcoins when bitcoin rises and to me you have not taken a bad marketing decision because we know this that bitcoin price influence altcoin price too but the difference to your decision of buying is you didn't research on why bitcoin is going up because if it has no cause of going up, there are big chances it could drop maybe it is just a pump from panic from orders placed in exchanges. But now that halving is here, buying can be profitable. Wish you good luck on whatever decision you take.

Didn't think about that but possibly it is due to the peoples emotion since they though a huge rise will come when halving is close to come but actually this year is different since there is one major thing affect the economy and for sure bitcoins as well got affected on in and I will not think about buying some alts these days since for now I don't trust any of them since I didn't see any solid movements for a while.

[btc_angela]

Bitcoin is down and altcoin is hit by REKT, it's really sad, I already bought altcoin when Bitcoin went up but unfortunately altcoin doesn't have a good reaction, and finally Altcoin is all down, will there be any more hope?

There is hope. It is normal to buy altcoins when bitcoin rises and to me you have not taken a bad marketing decision because we know this that bitcoin price influence altcoin price too but the difference to your decision of buying is you didn't research on why bitcoin is going up because if it has no cause of going up, there are big chances it could drop maybe it is just a pump from panic from orders placed in exchanges. But now that halving is here, buying can be profitable. Wish you good luck on whatever decision you take.

Didn't think about that but possibly it is due to the peoples emotion since they though a huge rise will come when halving is close to come but actually this year is different since there is one major thing affect the economy and for sure bitcoins as well got affected on in and I will not think about buying some alts these days since for now I don't trust any of them since I didn't see any solid movements for a while.

I guess we have this thought that the price will decrease post-halving, but as we can see this time it is very different as we have experienced some dump already prior to the halving. So there is a lot of scenario that got invalidated again, but as I have said in my previous post, $7700 will be a good support for now. And if that price is reaches and the support holds, then I'm expecting some bounce back to 5 digits again.

[joinfree]

This recent dump was just the last attempt to bring bitcoin down a bit just before the last bull run of bitcoin before this halving. If you look currently at the price of bitcoin you will realize that it has started pumping again. My prediction is similar to other TAs own which is around $10.2K.

[TheGreatPython]

I hate it when altcoins are affected even more than bitcoin, why would altcoins be affected this much when bitcoin is already recovering. I mean look at bitcoin right now, it is already around 9k once again, if the bitcoin price is going that much why would altcoins not recover as well? They should recover in all sense and purposes.

In any case I would like to say that altcoins have a bigger upside right now, and that is what matters when you make a long term investment. Bitcoin could go x2, probably go x3 at the very best case and even that is a big stretch. However ethereum could literally go x5 right now and wouldn't be hard, and there are some coins that could go x10+ right now. I am not saying they will, but there is that potential that is not around for bitcoin.