3 Reasons Bitcoin Just Tanked Below $11K for First Time in a Month

[Fundamentals Of]

Reason number 1 is possible. Reason number 3 is more possible. But I don't agree with reason number 2. If DeFi starts to unwind and investors are beginning to lose their trust in it, it must be in favor of Bitcoin. The funds that will leave DeFi will probably return to the most trusted coins, into Bitcoin more than any altcoin. This must push Bitcoin's price instead of pull it down.

I just do it too after I earn or leave from a DeFi project will just put it for the mean time in BTC or USDT but mostly in BTC, any lose experience in BTC can only be a paper loss unless withdraw Ed unlike in DeFi projects or other alts that may not recover. The drops can only be experienced when there are whales who pulls out their coins totally in the market they might be done in the mean time as the market in the fast months were continuously increasing, BTC always experienced a dump and pump and we're just waiting in where to buy and sell it once the market starts to recover again.

Here's a first hand experience that confirms that the second reason is really unlikely. I am not investing in any DeFi projects but if I were and I am beginning to lose my bullish view of it, I would certainly transfer my funds into Bitcoin. This is what I did way back when the hype of altcoins and ICO was very strong. Every time I sell them it would only be either be into Bitcoin or the leading altcoins. So this is more beneficial to Bitcoin rather than detrimental.

[Pamadar]

Actually, such a drop in bitcoin prices was to be expected before the massive rally that everyone expects according to forecasts, but the reasons for the fall in BTC are very controversial.

The influences are coming from different reasons, but most are coming from whales who loves playing around and create
impacts to shake down every small traders / weak holders.

I see a certain pattern in the fact that bitcoin actively rose to $ 12,000 while the dollar was falling, and until today the opposite trend has been taking place, that is, the strengthening of the US dollar in the context of the ongoing financial crisis has triggered a decline in the bitcoin rate.

Not sure to that pattern as both have different venues, though it's still investors who creates majorities in terms of market
value.

But you also need to take into account large-scale mining pools that send significant amounts of BTC to exchanges, which are very different from the usual.

Make sense. Large mining company can do that, they also have such capabilities.

[pokeronlinestatus]

Massive rally should not be coming any time soon, we are still a bit behind for that to happen, usually that happens between 12 to 18 months after the halving when the real consequences of it start to make itself felt and that means either may of 2021 or even further like November/December of 2021, so we are very very behind so far. Obviously time passes very quickly, there is a saying in my nation that goes "minutes go slow, years go fast" and I love that saying, I feel like 2022 will be right around the corner with the blink of an eye but tonight can't come soon enough, that is how life is.

So, just wait around, buy when it is low like this and between may and December of 2021 we are going to see that massive rally. Which means this drop was irrelevant if you ask me since we have so much time for it.