Why is Bitcoin dumping right now?

[Cnut237]

Why is Bitcoin dumping right now?

It's not dumping. Whenever the price starts going up quickly, the FOMO starts, and the price invariably overshoots where it 'should' be. The price rise stops, and then turns into a small drop. It happens just about every time; I don't think it's a reason for concern at all. The general trend is still upwards.

[mich]

Is it because the Trump people have given up?

Is it because the Biden people are relaxing after what they think is a win?

I had hoped Bitcoin would actually make it to $20,000 this time!

This is the 'correctional' period as I have read it being called by super investors.

It could not just continue to go up without evening out or something would be wrong.

[Pito001]

Because whales are decided to do so. Nobody knows, it just dumping. It could be just a correction or start of a bigger dump. There are a lot of uncertainty in the crypto market

[charlesmichel1]

Despite many traders say that the price reacts to Biden's presidential win, I think it's more like a coincidence than a correlation.

[aryadiningrat123]

That's right, the possibility of bitcoin will go up again this year because bitcoin in the previous year had a very low price and maybe bitcoin will go back up to $ 20k or even more.

[ChrisPop]

I think it is a human inherent trait to be curious, to find exactly why something is happening. My answer to you is that the markets are always imprevisible, you can't possibly know all the market forces. There are buyers, there are sellers, and there are people staying one the fence observing the environment. Think logically, how could someone know that the dump was caused by the election results or inversely if the surge in price was caused by the PayPal news.

What we do know is that whenever there is a dump, bears have more power than the bulls. Conversely whenever there is a pump, bulls are charging ahead as the demand is higher than the supply.

[Dorodha]

Bitcoin usually depends on the dumping market and because the demand increases the worth of bitcoin starts to travel up.  Bitcoin is currently the foremost popular and used digital currency within the cryptocurrency world referred to as the medium of worldwide transactions. Bitcoin is that the first of the decentralized digital currencies because Bitcoin is the primary to work without a financial institution or one administrator. Bitcoin network may be a universal process that takes place directly between users with none intermediate means. Dumping is seeing more demand for it than other currencies because nobody can control Bitcoin.

[hilariousandco]

Is it because the Trump people have given up?

Is it because the Biden people are relaxing after what they think is a win?

I had hoped Bitcoin would actually make it to $20,000 this time!

Bitcoin goes up and bitcoin goes down; you can't explain that. It's never going to keep going up forever and some sort of pullback eventually is inevitable as going up 5% a day can't be sustained forever. I still think we'll get to 20k again but might have to wait a bit. Not sure why the election effected it as neither party should effected bitcoin directly but maybe once it's settled down a bit we might see another rally.

[Fundamentals Of]

Is it because the Trump people have given up?

Is it because the Biden people are relaxing after what they think is a win?

I had hoped Bitcoin would actually make it to $20,000 this time!

Bitcoin goes up and bitcoin goes down; you can't explain that. It's never going to keep going up forever and some sort of pullback eventually is inevitable as going up 5% a day can't be sustained forever. I still think we'll get to 20k again but might have to wait a bit. Not sure why the election effected it as neither party should effected bitcoin directly but maybe once it's settled down a bit we might see another rally.

I agree. The rally cannot be just be all about one single very long green candle. It is not possible to happen. There is always rise and fall along the way. But it does not mean the bull run has stopped already. We have noticed that in the past few weeks. There is a rally and then a little correction and then another rally immediately follows. I guess this is what's taking place right now. However, the correction is a bit more significant this time compared to the previous smaller ones.

[ultrloa]

Is it because the Trump people have given up?

Is it because the Biden people are relaxing after what they think is a win?

I had hoped Bitcoin would actually make it to $20,000 this time!

Bitcoin goes up and bitcoin goes down; you can't explain that. It's never going to keep going up forever and some sort of pullback eventually is inevitable as going up 5% a day can't be sustained forever. I still think we'll get to 20k again but might have to wait a bit. Not sure why the election effected it as neither party should effected bitcoin directly but maybe once it's settled down a bit we might see another rally.

I agree. The rally cannot be just be all about one single very long green candle. It is not possible to happen. There is always rise and fall along the way. But it does not mean the bull run has stopped already. We have noticed that in the past few weeks. There is a rally and then a little correction and then another rally immediately follows. I guess this is what's taking place right now. However, the correction is a bit more significant this time compared to the previous smaller ones.

The simplest explanation for that is there are people who do a short trades and majority are selling of there assets for profit securing that's why we see some few dumps happening right now. But we shouldn't get alerted since as the market is on green side we can really that there are pump up coming ahead.

[kentrolla]

Because whales are decided to do so. Nobody knows, it just dumping. It could be just a correction or start of a bigger dump. There are a lot of uncertainty in the crypto market

You can't blame big whales for the dump it's purely depends on supply and demand, the price just reacts based on the market situation. After three years we saw BTC bounced more than 15k that's isn't a surprise right.

Also Just a small drop doesn't mean the price will go down have faith and wait patiently the market will recover very soon.

[michellee]

I think why bitcoin dump right now is because of the correction that will always happen to bitcoin price. We see the dump coming from a long time ago, which happens after the bitcoin price increases. No matter how high the bitcoin price increase, the decrease and the dump will come after that. We need to anticipate this by selling the bitcoin at a high peak price to buy back Bitcoin at a low price. You don't have to panic if the dump comes because you will have another chance to buy bitcoin again. But there is so much speculation about why bitcoin price is down out there, but we don't know which one is the right.

[onecall123]

No chance, Bitcoin is not crashing. Same things repeat all the time, correction are just part of breathing in this game. If your strategy is long term BTC, then Hodl. Stop looking at those selling unless you can handle it, the same old thing!

[kapalmabur]

Bitcoin dumping because there are rumors that if Biden wins then the stock, or crypto will also go down,
because it has become a tradition, especially crypto currency is a new thing, it is very vulnerable to existing policies,
we are waiting for what Biden will do with crypto currencies in the USA later.

[tyz]

I had hoped Bitcoin would actually make it to $20,000 this time!

I thought that everyone expected for bitcoin to have correction before it tries to reach $20,000 so this might be it.Small correction and then we go back attacking 20,000 mark.If not and bitcoin dumps hard,then its just opportunity to buy more btc at cheaper price.Win win situation in my book.In the end,bitcoin doesn't care who is president.

Exactly, there is always a correction when prices pump this much in short time. Absolutely normal pattern and healthy to go up further. I am sure Bitcoin will reach 20k sooner or later and in the course of this journey there will be more corrections.

[KTChampions]

I don't see any dumping. I see the usual volatility.If we look at any time span longer than 24 hours, we see that the bull market is still going on. Growth cannot be vertical (if we are talking about adequate growth), sometimes someone fixes profits, sometimes there is a correction for other reasons, so temporary backward movements can be found on any bullish trend.

[coolcoinz]

I agree with the above, there's no dumping. All I can see is coins changing hands with increased volatility. When a large wave of demand hits the market there's also a high counter force working from the other side as holders who made a lot during this run up decide to take profit. This is nothing to worry about and the price is still above the 14k level which is super bullish.

[Porfirii]

No matter why, it is already going up again.

I suppose this was nothing but a little correction. Not going a little sideways would be more worrying for me than spiking like in late 2017 and then coming back to a bear market for three years 

I hope this is just a bear trap and we keep on going up, but without any hurry.

[bitbunnny]

It's not quite dumping, we saw some slight correction. I would say this is the part of natural volatility process and hardly we can expect only straight up movement of price. I know that many are expecting to see Bitcoin price at about 20k level soon but I think some more corrections are possible and we might see Bitcoin going towards 17k but as well touching 12k or even less.

[Kong Hey Pakboy]

Is it because the Trump people have given up?

Is it because the Biden people are relaxing after what they think is a win?

I had hoped Bitcoin would actually make it to $20,000 this time!

Bitcoin's price is not dumping; it is just average for bitcoin's price to drop slightly because if bitcoin does dump its price, we probably are not in the range of $15,000+ price. Also, the US presidential election between Trump and Biden cannot affect the bitcoin market because both of them are not "fan of bitcoin" and will only ignore the existence of bitcoin and other cryptocurrencies.