Why is Bitcoin dumping right now?

[BADecker]

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!

[1715186758]

1715186758

[Yaunfitda]

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!

Perhaps we have been played by whales and manipulators, riding on the US election to pump the price to almost $16k and then everyone gets excited. But indicators shows that we somewhat close to the overbought region, hence people sold off to make some profits in the recent upsurge. But I think we are still in the bullish sentiments though, not worrying short term effect of the US election. We still have a lot of leg room till the end of 2020. But I don't think we can make to $20k this year, most probably 1st quarter of next year will be a good gauge to see where we are heading.

[kayvie]

The reason is unknown but we all know that in every situation where we can see a sudden pump, we should expect a dump after that. It is possible that the price is being manipulated or most have already been selling their holdings that's why it highly affects the current price of bitcoin.

[BIT-BENDER]

This dumping and the rise before it has nothing to do with the white house, US election, this rise had people calculating the profit if they sold, wonder if they made that interest shown making the market supply rise and with the high price not every one can demand for Bitcoin with such prices, don't had not thought bitcoin could reach $15k although I had wished for it, now am not putting limits, I think Bitcoin can get to $20k before the year ends.

[NeuroticFish]

Is it because the Trump people have given up?

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

One idea would be that the speculators may have used the elections "uncertainty" to play a pump and dump game and now, since the winner was announced, they "sell the news". But I am not convinced that this is the entire story (since the world is bigger than USA) and some buyers just noticed the new opportunity. We'll need more time to be sure what we have here. And week-end markets are sometimes strange/unusual.

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

Come on, that was a bit too high expectation  
It'll get there, but we need more patience.

[oktana]

I don't see how the president of US affects the price of bitcoin. Even tho statistics says that most bitcoin hodlers are from the US, the elected president has nothing to do with this.

[Oshosondy]

I will say some people are thinking the price of bitcoin is a little affected by the presidential election, but they are just fomo, that is why they just buy bitcoin in such time and sell after the end of US election. I believe such people have collected their bitcoin already into fiat, while others still wait for the rally to go on, let us all still see bitcoin breaking $15000 again, and at that time which is very near, let us see it breaking $16000 as well. The people that believed US election caused the pump have all sold their bitcoin and resulted to the dump in price, while others that believe in halving and bitcoin as a deflationary currency will be the ones to gain more because bitcoin normally is increasing this time without the US election.

[Wysi]

I just hope it's the outcome of US election result and trust me we are fed up of Hales playing with our emotions and setting traps repeatedly, I know people are freaking out as we are witnessing the dump when it was least expected and I had been personally be bloating that Bitcoin will reach $20k mark by end of this month or max by the end of year, next couple of hours will decide the value of Bitcoin as if it keeps dumping then we need to realise we had been taken through one more bull trap. On contrary this might be an usual fluctuation as well. Let's hope it's not a bull trap.

[Rengga Jati]

I think the decline in Bitcoin price has nothing to do with political issues in USA. You should realize that even there are many political issues in USA, in the fact Bitcoin price almost reached $16,000 yesterday. So, why the decline today should have a correlation with USA?  

Look, the decline is normal since many Bitcoin holders probably sell their assets after the Bitcoin price can soar significantly. I believe many Bitcoin holders were quite satisfied with the price of Bitcoin yesterday. So, many of them instantly sold many of their Bitcoin assets. This caused more supply of Bitcoin in the market, while lower buy order at the same time. Consequently, the Bitcoin price begins to decline a bit gradually today.

[shohag999]

the elected president has nothing to do with this.

[Bekuciwu9]

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.

[tyz]

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!

Well, the United States are now officially a socialist communist state. The seeds are now being sown to gradually nationalize all private property, including Bitcoins. It is no coincidence that yesterday the judiciary seized Bitcoin worth one billion. This was only the beginning. At the latest when Kamal Harris takes over the office of president in two years, because Biden is no longer able to live in good health, the full extent of this election will become apparent.Therefore everyone should now immediately sell their Bitcoin. It is all over  

[jossiel]

Wait until bitcoin will make it to $20,000. Add more patience but we'll be there soon.

The dump has been anticipated when we nearly reach $16,000 and we've seen the pump bitcoin made. The news that the media shows about the winner of this election could possibly one reason.

But I always believe that these news-effect are temporary. Just another $200 and it's back to $15,000 track.

[tippytoes]

I will say some people are thinking the price of bitcoin is a little affected by the presidential election, but they are just fomo, I believe such people have collected their bitcoin already into fiat, while others still wait for the rally to go on, let us all still see bitcoin breaking $15000 again, and at that time which is very near, let us see it breaking $16000 as well.

It is just a correction as we saw it increased more than $15k. So usually, it will go back a lil bit. But yes, we will be seeing btc going up again. Just a typical up and down market movement. Nothing especial actually. If the US election results has impact, I guess very little. We will be seeing the $15k level again very soon. Nothing to worry about.

[enhu]

Can't expect it will really continue to go up to its ATH. It was fun though. You really can't remove election as its cause, its just too timely.

Now its going to be bloodbath again. Sometimes I really wish I have kept my BTC to an exchange which I could take profit every time and not have never really taken the advice of keeping it on my personal wallet. It could have been a big profit if I sold it and buy back later.

[Asuspawer09]

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!

Something like the election, in my opinion, doesn't affect the market price of bitcoin at all but there is always a possibility.

The market pump from around 11,000$ up to around 16,000$ in just a small-time so probably having a dump could easily happen also at a small-time.

Let's just say that it is too early to assume a dump since the market could always blow up at the end of November and also December. Still, we could always believe in bitcoin to reach ATH at any moment.

[Oasisman]

Is it because the Trump people have given up?

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

One idea would be that the speculators may have used the elections "uncertainty" to play a pump and dump game and now, since the winner was announced, they "sell the news". But I am not convinced that this is the entire story (since the world is bigger than USA) and some buyers just noticed the new opportunity. We'll need more time to be sure what we have here. And week-end markets are sometimes strange/unusual.

It could be that speculators and whales are just using the US election to play with Btc's price, but It's still the closest event that we could connect with Btc's price surge regardless if It was manipulated or not.
One thing is for sure, a lot of people might have sold their bags after seeing the Btc price starting to decline back to $14,000 level. Yet, I'm still feeling that If Btc will crawl back to $15,000 level again, we might see a $16,000 figure since the news and the social media are still in a bullish mood.

[Husires]

Bitcoin dumping all the time because it rises all the time. If we ignore the fluctuation in the price that occurs during the months, the change in price over the years is bullish.
What is happening now is a correction because the price was above the $ 13000 level and it rose above the $ 15000 level. We cannot force the price to rise any longer so it collapses.
It is nothing more than a natural correction.

[Baofeng]

It's just a pullback, correction that needs to happen as the price won't go on a parabolic rise to $20k. But this is good though, at least we can still take advantage of this by getting cheap bitcoin again. Currently at $14800, could settle at $14500 as support. Just remember that we have seen higher highs for this year already, so it's really hard to short the market unless you really know what you are doing.

[mangsitin]

usually after some time bitcoin is bullish, in a short time it will also fall.  A lot of people are investing in the $ 11,000 figure.  and when it hit $ 15,000, lots of people made big profits.  they think it is a good time to get their profit.  and finally, bitcoin dump again.  crypto volatility cycles are always like that.