Why is Bitcoin dumping right now?

[JakobFugger]

Speculation. Many people used leverage and need to dismantle their position. Unpredictability about the future, as it has risen a lot, it is risky to maintain this position.

[pixie85]

Is it really a dump? People overuse this word a lot.

If it goes up by 5000 USD and then down 2000 is it a dump? I wouldn't call it that. It's a correction in an uptrend.

If it goes up by 5000 and goes down 5000 it's a fakeout or a pump and dump.

Bitcoin went from 11 to 16 thousand in 1 month but it took it about 27 days to reach 14 thousand and the last 2 thousand was a FOMO rally that took only 2 days. That's more than 30% of the total monthly growth completed in 2 days.

Moves like that are hardly natural for any coin and difficult to hold.

[Wapfika]

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.

Many already learned their lesson to take profit whenever the price goes high since there are already many instances that BTC arise and when reach a resistance that seems too hard to break it falls in price and will need more time again and news to make a hype and have some pump. It's normal now that we see the price drop after weeks of continuous price increase. We will see until how much it will fall bounce back.

[verita1]

The truth is that it also surprises me that the price of Bitcoin has fallen a bit after seeing that it was on the rise. But we should not worry as a Bitcoiner we are going to follow Biden's motto "Keep the faith". I have the feeling that the behavior of the market and the price of Bitcoin will be very different from what we have been used to. We are pinning all our hopes that Bitcoin will make big changes in finance for years to come.

[ene1980]

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  

Are you planning to sell your coins, the seizing of bitcoin and the elections results are mere coincidental and it has nothing to do with the elections if you are serious about that. Regarding the health of Biden it is true that he is not able to remember his things and he will be a dummy president and what are the impacts is to be seen. Even thought the major media were mocking Trump i think he was a good president considering he never started a war and he made some changes that could help the economy and if not for the pandemic that would have being evident. 

[romero121]

Everything had got its reason. Whenever some specific event happens in the world relating to economy, the whales try to make profit out of it. One such plan is the market dump that happened once after the US election results were announced. Relative to the same there'll be speculations running around for a while which in turn gets to be the regular growth.

USA is the largest country that has the majority of users and usage compared to the rest of the world. Based on the same, a political change is a big thing and the same has caused the market dump. Probably the same is predicted to make a market pumping sooner.

[Astvile]

Whenever there is something big happening in the world, bitcoin seems to go up or go down in value and why do people still speculates that one thing is related to this to that and so on? FOMOs is everywhere, each day the market is being controlled by whales. Whales succesfully profited from the election FUD, now its price correction time. Just seem like a pretty normal day to me.

[celot]

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!

Actually bitcoin after pump will have moment for dump and right now is not enough for bitcoin dump because raise up more than higher price from $12k become above $15k. I think is not relationship between who is the winner in United State election Joe Bidden or Donald Trump.
Not give effect both of candidate president of United State is not like with cryptocurrency. Just worry what will happen when I hear Joe Bidden become candidate to win United State election will he gives impact to make bitcoin legal in united state or not. we hope good or positive become Joe Bidden as united state president because last five years when Donald Trump as United State president he not gives anything positive impact for bitcoin and always make bitcoin price is going down.

[Darker45]

Keep calm, your hope is not dead. Bitcoin would make it to $20,000 this time. This time could be within the year or within 12 months, though. Although I believe it is the former.

Things like this always happen to Bitcoin. It rallies strong and quick and then it corrects. And rallies back. That's always been a back and forth movement of Bitcoin's price on the chart. There is nothing really special of the very recent red candles.

Also, Bitcoin's price probably doesn't care about who will win in the US elections.

[LogitechMouse]

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!

We know that Trump is a businessman and an investor.
Biden's victory isn't a good sign for the investors.

Investors see Biden's win as a negative sign for the market causing the price of Stock Market to drop. Not that much drop on the Stock Market but it affected the Crypto market too since both of the markets are correlated. Investors sold their holdings because of this causing the price to drop. Simple as that .

[gabbie2010]

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!

US election has come and gone, the dust raised by the election had settled down while the election last there was  a huge pump in the price of Bitcoin infact other USD related pair also experienced volatility.
I believed BTC is experiencing a minor corrections or pull back hopefully the bullish trend will resume soonest, the Price Action of Daily chart is indicating a bearish exhaustion meaning that the market is still very bullish, while the weekly chart is showing a bullish wick which I believe is likely going to be filled this week by the bulls.

[TitanGEL]

Actually, it is not dumping, it is called retracing. I do not use fundamental so I do not rely on news whenever I analyzing the price of the bitcoin. When it comes to technicals, the price of the bitcoin should do a consolidation for at least days or weeks because it will be a sign of weakness if the bitcoin will not create a new support. Actually, what happened to the price of the bitcoin is good because it created a new support around $14,400, you can notice that there is huge wick appear which means that there is a rejection wherein there are a lot of buyers in that area. My bias is to see that the price will consolidate about 5- 10 days then it is the time that there will be another breakout. People think that the bitcoin should do a straight line in the chart but in reality, there is no such cryptocurrency or other financial instrument that are always going straight upward.

[raidarksword]

US election results not the reasons why bitcoin just suddenly dumped and i doubt politics was not the reasons at all. Probably whales were the ones of hype the price to $15k price and then cashing out because they know they can manipulate it as they like and we all know bitcoin can be manipulated, so i don't get shock about it. It just happened and circumstances of election results and bitcoin dumped at the same time. Besides, this not new price being dumped but as we still believe bitcoin will get to the point that we will see its new ATH soon enough. In Bitcoin, We Trust.

[proTECH77]

Bitcoin is dumping because we are about to enter the season of rising and falling in the market.The year is coming to an end soon, everybody want to supply to market so that they will have enough to celebrate the Christmas and new year that is approaching.
 Democratic candidate Joe Biden supporters are celebrating in already because Joe Biden is leading the incubent president . Joe Biden promise the citizens of US steady economy, standard institution and make a good environment for all trader in the country. Joe Biden promise to do well if elected as the president of US during his campaign that him will do everything possible that will make bitcoin and other cryptocurrencies users have convenience place in the country.
 

[RapTarX]

I have built up a reason behind the recent pump in my mind. Presidential election had a lot of bets; it attracted a lot of new gamblers as well. As a result, the demand of BTC was highly increased which was the reason for the pump and as now no more bets, the demand got decreased and people with winning BTC are looking for liquidity which can be the result of the dump.

[EdenHazard]

Is it really a dump? People overuse this word a lot.

If it goes up by 5000 USD and then down 2000 is it a dump? I wouldn't call it that. It's a correction in an uptrend.

If it goes up by 5000 and goes down 5000 it's a fakeout or a pump and dump.

Bitcoin went from 11 to 16 thousand in 1 month but it took it about 27 days to reach 14 thousand and the last 2 thousand was a FOMO rally that took only 2 days. That's more than 30% of the total monthly growth completed in 2 days.

Moves like that are hardly natural for any coin and difficult to hold.

Well let's see what would happened in the next few weeks , if it goes down back to around $11k or $10k then it's a dump according to your theory right?

But i must agree that behind every bullish there's always a correction which it's well known enough for most of us. So far so good , that's around $1,000 correction. I expect we are moving swing now in few days from $15.5k to $14.5k and so on until we found another path to a $20k rally back. Chill , it's not a real hard dump. It's just normal for a healthy market.

[yohananaomi]

Bitcoin is dumping because we are about to enter the season of rising and falling in the market.The year is coming to an end soon, everybody want to supply to market so that they will have enough to celebrate the Christmas and new year that is approaching.
 Democratic candidate Joe Biden supporters are celebrating in already because Joe Biden is leading the incubent president . Joe Biden promise the citizens of US steady economy, standard institution and make a good environment for all trader in the country. Joe Biden promise to do well if elected as the president of US during his campaign that him will do everything possible that will make bitcoin and other cryptocurrencies users have convenience place in the country.
 

glad to hear that the US presidential election has been going well and a new candidate appears, congratulations on taking the lead.

but I am not too sure that there is an influence from the election directly to the bitcoin dump, because if we want to observe the past few months that bitcoin continues to do things as is currently happening and as it is normal, so it is not necessary feared and commonplace.

It is clear that towards the end of the year many need needs especially with holidays as well as Christmas and New Year, I also did not see anything strange, try to compare when there was a lockdown during the pandemic where there was more expenditure, obviously when the pandemic was more, but bitcoin still could. move up.

[yhiaali3]

There are many factors that influence the rise and fall of the Bitcoin price, not just the US election.
The US election is one of these factors that temporarily affect not only Bitcoin, but all global stock exchanges, including Bitcoin, of course, the reason is fear of the unknown and instability and this causes market volatility until a new president is elected and a new administration is settled.
So I think that this fluctuation in the Bitcoin price is natural and temporary, and it will rise again as life returns to normal in America.

[GeorgeJohn]

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!

Shall it's obvious that bitcoin people has been predicting increment or rising of bitcoin since early these year and  now there prediction is manifesting, the rising of bitcoin is not determine through US election, but from my perspective it seems that it's based marketcap of btc, the demanding of bitcoin is many.

[samputin]

All I know is that the current tension produced by the current US election brings positive effect on the market. I don't actually care the specific reason behind the sudden spike on btc's price thus I can't explain whether Trump's side or Biden's side is behind on all these things. But if we disregard the talks about politics and solely look on the holder's perspective, it is normal. You know, if the price pumps then the time will come when they will sell as well. As simple as that, it is how the cycle works.