Sanitough (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2021, 01:00:54 PM |
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Huge dump happening, it could possibly dump below $50,000.. What's your thoughts on what is happening now? https://www.binance.com/en/trade/BTC_USDT![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F5VWrdcI.png&t=665&c=ZubYuG06osM3yA) Is this is serious one or just a minor dump that could not affect the bullish market?
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NeuroticFish
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February 22, 2021, 01:25:31 PM |
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For now it's back to the oh so scary levels from .. Friday. I don't expect to get out of the current bullish trend, but I don't have a crystal ball, so I don't predict. Put the charts to daily candles. I may not stop the current dump, but it may cure your current fears.
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goaldigger
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2021, 01:36:19 PM |
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Corrections and panic selling again, we might hit the peak for this bull trend and its time to reach the bottom again. This is a normal cycle on every market, we might see some pump again but if we failed to break those resistance, then soon we'll see the signal of a downtrend. If you want to take profit now then now is the best time, we don't know what will happen next, so I'd rather secure my profit now.
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tokeweed
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February 22, 2021, 01:41:32 PM |
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Is this is serious one or just a minor dump that could not affect the bullish market?
Final shake out before the next buy up going to 60k USD and beyond imho. It’s gonna suck for some margin longs that’s gonna get liquidated in the process tho. Edit: Where does Saylor buy BTC? Does he bid at the open market or does he buy via OTC?
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thecodebear
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2021, 02:26:07 PM |
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Wow very sharp plunge! All I can think of is Musk said prices "seem high" over the weekend and business just opened so maybe institutions are selling today....if Musk really has that much sway haha.
I guess Microstrategy will be buying 1.05 billion this week though so Michael Saylor must be happy they can pick up bitcoin at a significant discount!
Since we just got out of a correction two weeks ago I doubt we're looking at a another correction this soon cuz that'd be crazy. Probably just a quick sharp bear trap - probably just a weak hands shake out!
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FatFork
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February 22, 2021, 02:27:24 PM |
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Everybody says "buy the dips, buy the dips!" Guess what? This is what a dip looks like, in case you didn't know! ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Beparanf
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2021, 02:31:17 PM |
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A simple price correction after a week of relentless pumping that turns to overbought. This is a healthy move for Bitcoin price development because it will close the gap on price so that it can grow again organically. If this didn't happened this week, I'm sure that worst will come to Bitcoin price because everyone is already enter a position leaving no space for reentry for new comer.
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Lucius
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February 22, 2021, 02:44:31 PM |
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Edit: Where does Saylor buy BTC? Does he bid at the open market or does he buy via OTC?
He makes purchases through Coinbase, and of course it's OTC - because those who buy have an interest in not causing major market disruptions (they want to keep the price as low as possible).
For those who are wondering why and how low we will go this time, read the following article - I single out this part : Supporting the case for a price pullback are rising U.S. inflation-adjusted bond yields, as discussed last week.
The 30-year inflation-adjusted yield, or real yield, has turned positive for the first time since June 2020, and the 10-year real yield has risen to -0.80% from lows near -1.05% observed last month, according to data provided by the U.S. Treasury.
A continued rise in yields could push the U.S. dollar higher, putting selling pressure on equities and bitcoin. Stock markets are trading down at press time, with the S&P 500 futures nursing a 0.6% drop on the day
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thecodebear
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2021, 02:48:26 PM |
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Edit: Where does Saylor buy BTC? Does he bid at the open market or does he buy via OTC?
He makes purchases through Coinbase, and of course it's OTC - because those who buy have an interest in not causing major market disruptions (they want to keep the price as low as possible).
For those who are wondering why and how low we will go this time, read the following article - I single out this part : Supporting the case for a price pullback are rising U.S. inflation-adjusted bond yields, as discussed last week.
The 30-year inflation-adjusted yield, or real yield, has turned positive for the first time since June 2020, and the 10-year real yield has risen to -0.80% from lows near -1.05% observed last month, according to data provided by the U.S. Treasury.
A continued rise in yields could push the U.S. dollar higher, putting selling pressure on equities and bitcoin. Stock markets are trading down at press time, with the S&P 500 futures nursing a 0.6% drop on the day Honestly I don't think slightly less terrible yields or slightly strong dollar would affect Bitcoin - nothing has changed about them macro environment. This is just a weak hands shakeout. A panic selling bear trap probably caused by some big players taking profit who can now buy back in lower. Likely since Bitcoin went from like $50k to $58k in like 3 days. Just a dip for smart investors to buy into.
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LUCKMCFLY
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February 22, 2021, 03:27:01 PM |
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Go apparently both those who were waiting for the correction has been given, it is likely to continue to decline unfortunately, when reviewing by tensorcharts.com we can see: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FVctlnTb.png&t=665&c=LA6fpPzekhpnbw) The volume is selling, they may be selling to cause panic, and leave the cheaper btc, this can become a great impulse for it to continue rising much more. Now the most important thing would be to wait to see how it continues to develop, to have moderation in transactions.
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BrewMaster
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February 22, 2021, 03:29:54 PM |
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it wouldn't be as surprising to see a brand new member say "Huge dump happening" as to see an old member who has been around since 2016 say it while the price only went down 6-7%. haven't you really seen the 30%-40% drops we had in 2017 while price was rising like these days? or maybe you have forgotten all about it since it was a couple of years ago?
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There is a FOMO brewing...
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adaseb
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February 22, 2021, 09:30:02 PM |
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I was trading this session and the reason for this dump was that as price was slowly heading lower, the amount of leverage positions opened went up. You could tell because the funding rates were slightly going higher as price was decreasing, usually the opposite happens.
So what happened was basically people bought too high and as the price kept going lower and lower their stops were getting hit. And more and more positions kept opening up. Eventually a cascade of liquidations started happening and the icing on the cake was when the psychological $50 area broke, that's were most people put their stops and at that rate already tons of people, especially on leverage were underwater.
It was worse for ETH because that lost its value even further. Hence if someone had positions open in both, the ETH liquidation could of ended up trigging a sell order in BTC markets. And combine this with billions of contracts open, its what caused this huge dump.
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fadhilz123
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February 22, 2021, 10:17:44 PM |
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I don't hear any bad news or Fud about Bitcoin. Bitcoin can't always fly, need to rest before another jump. We will meet with market correction+panic sellers, so I think this is the reason behind it. I just want to know, is anyone here who can predict how deep Bitcoin will dumped?
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batang_bitcoin
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February 22, 2021, 11:29:34 PM |
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Maybe the BTC options are about to expire. I've just read it in the news from someone while browsing the web. It could be one reason why we've seen a dump. But settling with any reason, this is a very normal scenario whenever we're pumping a lot. And just as usual, the market had followed bitcoin again. Here's the news: 63,100 BTC Options Expire on Friday, Feb. 26
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Rent this sig space so that BTC goes to $100k.
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wheelz1200
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February 23, 2021, 12:39:29 AM |
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Huge dump happening, it could possibly dump below $50,000.. What's your thoughts on what is happening now? https://www.binance.com/en/trade/BTC_USDT![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F5VWrdcI.png&t=665&c=ZubYuG06osM3yA) Is this is serious one or just a minor dump that could not affect the bullish market? Why does everyone think that bitcoin will go up forever. Every time it has a big run there has been pullbacks and bear markets. I'm not saying this is the start of a bear market but it can drop a ton from here why not.
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LogitechMouse
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February 23, 2021, 01:33:54 AM |
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Just a normal short term correction maybe?? See the chart of Bitcoin on a 1-day chart and you will see how many buyers really want to buy Bitcoin.
It went on a huge dip and the lowest it reached is at the ~$47,000 price but the day ended and the price of it was at around ~$54,000. See how many did buy just at that dip. Can I say that the buyers are still in control of the market? I don't want to be optimistic by that much though because anything can still happen and we've seen this already. It dipped then recovered then days after it dipped again lower than its first dip.
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btc_angela
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February 23, 2021, 02:12:37 AM |
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Yes, this is just a short term dump, but the good thing is that in a bullish cycle, even though we have seen dumps and correction, it will quickly rebounded just like what we have seen. It's not above $53k so nothing to worry about as whales and average joe's pick up the slack and scope cheaper bitcoin.
And it's a lost for those who have sold and panic, weak hands and you are going to lose here.
So the market is back on the bulls hand.
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Wolf Rainer
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February 23, 2021, 05:02:45 AM |
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Classic march fever incoming. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FEu1EpefVoAILam0%3Fformat%3Djpg%26name%3Dlarge&t=665&c=EYCGsJQsNtuStg)
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Wexnident
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2021, 05:03:16 AM |
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Probably a correction? The hype of Tesla buying BTC has already passed and there's already been a quiet period where Bitcoin hasn't negatively reacted to the temporary pump that Tesla did, so I guess we're experiencing it now. Well, it's a silent opportunity imo since we're still quite in the bullish season. Traders would just have to choose the best opportunity to get in especially since it seems like panic selling is happening right now. Pretty regular scenario, especially ever since BTC entered the current year.
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adaseb
Legendary
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Activity: 3850
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Up to 300% + 200 FS deposit bonuses
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February 23, 2021, 05:15:59 AM |
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Classic march fever incoming.
Maybe Taxes have something to do with March being a negative month for Bitcoin. It was positive in 2019 because 2018 was a bearish month. And 2013 was positive also but back then I don't think there would of been too much tax selling from 2012 loses. BTC had a good year that time but I don't think it made people super rich. This is one thing which caused a huge crash in 2018 because people didn't realise how much they would owe in capital gains taxes. Basically every trade is taxable whether you withdraw or not. People probably assumed if they don't withdraw, they don't owe. However people made great gains, sell, made a taxable event, then bought something else, new tax year started, and that new alt ended up losing them money, so money was lost but taxes were still due on the 2017 gains. Hence people had to liquidate their BTC to pay for taxes.
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