Bloody Crypto market.

[YOSHIE]

All we know Forum is the main destination for discussing crypto, Bitcoin and so on on behalf of digital currencies including the crypto market.

I saw some media, youtube, 100% of people involved in the crypto world. 30% panic, there are hundreds of inaccurate and irresponsible information, many people sell, the current market conditions are red, I am completely wary of this phenomenon, my mind is stuck, solutions are not found, strange, but that's what is happening right now.

The purpose of this topic: give an idea or something that you know about the current market conditions, I mean a good step to consider.

What are you doing seeing the conditions like today .....!

Regards.
Yoshie.

[Little Mouse]

If we consider BTC only (since you posted on speculation board of Bitcoin), BTC is ~16% down from the ATH while in February alone, more than 50% up.
If you were thinking of your position on BTC, I would recommend you to use Stop Loss feature. It sometimes works good in such situation.

[pooya87]

Sometimes it appears that the traders have very short memories, they should spend some of the money they earn or lose in this market on a good doctor to check their brains out

What we have right now is not even new. We had the exact same thing last month too when price fell even bigger from $42000 to $28800 which is a 31.5% drop.
We are repeating the same thing today too when price went from $58354 down to $47400 which is only a 18.8% drop. There is still room to shake out some more weak hands and take their bitcoins at a big discount then sell it back to them at $67000+.

The same thing has been happening to altcoins too. Bitcoin goes up they get dumped. Bitcoin goes down they get dumped even more.

[Upgrade00]

When getting information from the internet one should always filter what they read and watch inorder to ensure its credibility. Inaccurate information is also posted here on the forum.

give an idea or something that you know about the current market conditions

For the last 24+ hours, we have been experiencing price retractions as the value has dropped by more than 10%. Such price changes are expected during a bull run.

I mean a good step to consider.

This would depend on their financial situation and your expectations of the market.
• You can Hodl through if you expect the price to rebound, or
• Sell of if you believe it would dip further.

[UnDerDoG81]

Be greedy when others are fearful. Best advice. Hodl and buy moar.

[acener]

All we know Forum is the main destination for discussing crypto, Bitcoin and so on on behalf of digital currencies including the crypto market.

I saw some media, youtube, 100% of people involved in the crypto world. 30% panic, there are hundreds of inaccurate and irresponsible information, many people sell, the current market conditions are red, I am completely wary of this phenomenon, my mind is stuck, solutions are not found, strange, but that's what is happening right now.

The purpose of this topic: give an idea or something that you know about the current market conditions, I mean a good step to consider.

Regards.
Yoshie.

I don't know if it is a good step or what but I would consider it a good time to invest or hoard.
Whenever the market gets down or bloody I would consider it as a good time to invest specially those who wants to grab some crypto at a low price for those who are constantly crying that they missed it at a low price.

[palle11]

I would recommend you to use Stop Loss feature. It sometimes works good in such situation.

This a good one not to lose all of your fund at this time of blood flow in the market. Stoploss is a good tool that traders don't apply because they lose sometimes. Bitcoin has got to a correction point, so don't keep expecting a bull for now. Trade with more care is the reality of trade.
Good for little profit and don't stay long to grab all profit at a point, you will have more opportunity to pick profits.

[NeuroticFish]

give an idea or something that you know about the current market conditions

TA people were expecting a 30-40% drop one month ago. Since then the price almost doubled (32k->58k). Now we have a correction. Fine. Some want to cash in, the market needs to catch its breath or refuel the rocket.
The rule for investing only money you afford to lose exists exactly to not freak out in times like this.


On a brighter note, it looks like it's trying to start recovering now..

[Wilhelm]

give an idea or something that you know about the current market conditions

TA people were expecting a 30-40% drop one month ago. Since then the price almost doubled (32k->58k). Now we have a correction. Fine. Some want to cash in, the market needs to catch its breath or refuel the rocket.
The rule for investing only money you afford to lose exists exactly to not freak out in times like this.


On a brighter note, it looks like it's trying to start recovering now..

Exactly. It’s just the process of killing traditional margin traders, killing stop losses and scaring the weak hands...

I think it’s best to postpone the FOMO as long as possible so we get the highest ATH possible 

[maydna]

People still panic to see bitcoin prices going down, which makes the price still going down without us knowing when the price can increase again. But for a long time, the bitcoin price will increase, and I consider this time a correction for the price, and we have the best time to buy bitcoin again. If you want to watch the price move, that will be okay, but I guess you can miss the chance to sell it at a high price, especially if the price can back to the high price as soon as possible. Before you do anything, you should analyze and make sure you know what you want to do.

[danherbias07]

Shaking my head. 
There is no doubt this will happen but yet, why is still shocking when you see the market going down. Right?
A lot of threads being created about a correction that is unpredictable, we just didn't expect it too soon.
I think we are drown by the non-stop bull and we thought there is no end to it.

This is a good sign though, market is still healthy.
Tree is just shaking and dried leaves will fall. (panic sellers)

[tomahawk9]

bleeding seems to have stopped for now, but we'll see what happens once the stock market goes live in about an hour *EDIT as expected, stock markets opens and we head back down

What are you doing seeing the conditions like today .....!

i'm trying to figure out a way to contact those crypto whales and wall street traders who planned the monday crash and made millions of dollars off it...daily update: still can't find them =P

TA people were expecting a 30-40% drop one month ago.

more like everyone was expecting a correction, even the kids who have been waiting to buy one of the new amd and nvidia graphic cards to play pc games but couldn't because of the short supply due to the crypto bull run (and other factors) knew that this was bound to happen. Source: that's all they talk about on discord gaming channels

[orions.belt19]

FUD will always be present and once someone starts to panic sell, it follows quickly like a domino effect. People will sell during a 10% dip but refuse to liquidate a gain of 2x or 5x.. Seasoned traders are filling their bags right now, taking advantage of this dip. I can see many posts and comments asking whether this is already the end and if they should already run for it. Unfortunately, new comers in the crypto space will be shocked by this kind of thing. If they cannot stomach this kind of thing then crypto may not be for them.

[The Sceptical Chymist]

We are repeating the same thing today too when price went from $58354 down to $47400 which is only a 18.8% drop. There is still room to shake out some more weak hands and take their bitcoins at a big discount then sell it back to them at $67000+.

Yeppers.  I wonder if newbies to bitcoin realize just how volatile it can be--and I'm also wondering about the big institutional investors and what they might be thinking about an 18% drop pretty much overnight.  I have to think that they'd done their research before buying millions of dollars worth of bitcoin, but when you get a correction like this, that's a pretty big hit to the balance sheet if you're holding tons of BTC.

Me?  I'm just a bystander watching the parade ebb and flow.  If you ask me, now would be a damn good time to buy in, because I don't think bitcoin is done with its rise yet.  I don't think it's even close to the top, so dips like this are good opportunities to make even more profit.  Too bad I'm flat broke, else I'd be buying bitcoin and some of the better altcoins too.

[ololajulo]

If we consider BTC only (since you posted on speculation board of Bitcoin), BTC is ~16% down from the ATH while in February alone, more than 50% up.
If you were thinking of your position on BTC, I would recommend you to use Stop Loss feature. It sometimes works good in such situation.

Is about picking the right price to stop limit especially when the dump might be a fleet and we come back quickly. I dont know how long the correction will go since it has started over 36 hours, taking position in the altcoins as well. The terrible drag of the whole market with it, is annoying.

[NeuroticFish]

TA people were expecting a 30-40% drop one month ago.

more like everyone was expecting a correction

Thank you for the good laugh for the day 
Still, threads like this (and it's by far not alone) makes me believe that 'was not really everybody who were expecting this correction.

[aoluain]

We are repeating the same thing today too when price went from $58354 down to $47400 which is only a 18.8% drop. There is still room to shake out some more weak hands and take their bitcoins at a big discount then sell it back to them at $67000+.

Yeppers.  I wonder if newbies to bitcoin realize just how volatile it can be--and I'm also wondering about the big institutional investors and what they might be thinking about an 18% drop pretty much overnight.  I have to think that they'd done their research before buying millions of dollars worth of bitcoin, but when you get a correction like this, that's a pretty big hit to the balance sheet if you're holding tons of BTC.

Me?  I'm just a bystander watching the parade ebb and flow.  If you ask me, now would be a damn good time to buy in, because I don't think bitcoin is done with its rise yet.  I don't think it's even close to the top, so dips like this are good opportunities to make even more profit.  Too bad I'm flat broke, else I'd be buying bitcoin and some of the better altcoins too.

I'm with ya Pharma! I dont have any spare FIAT to take advantage of the Bitcoin sale.

We all know that we dont lose in times like these if we just Hodl, I'm hoping the recent traunch
of institutional investors have done their homework on Bitcoin and dont develop weak hands.

Anyone around Bitcoin for a few years will be used to this, we know how it plays out ....

onwards and upwards.... with a blip here and there.

[LUCKMCFLY]

I have learned something about the markets and it is that sometimes we cannot be influenced by the news or by some influencers, they mostly speak what they think and feel, sometimes they do not have a high financial education, in Livermore's books, he Whenever he did his analysis he never saw news, because it interfered with his market analysis, of course all this changes when there is a fundamental. The news is good to be aware of, but it is better to see it, hear it when you already have an established market vision with decisions already made to manage.

[Rikafip]

TA people were expecting a 30-40% drop one month ago. Since then the price almost doubled (32k->58k). Now we have a correction. Fine. Some want to cash in, the market needs to catch its breath or refuel the rocket.
The rule for investing only money you afford to lose exists exactly to not freak out in times like this

True, pretty much everyone expected this to happen some time ago, but all of this was postponed by Elon Musk, his tweets and making his purchase of bitcoin public. I remember people even expected it to drop at mid 20k levels, so what we are experiencing now is nothing, thanks to Musk and the pump.



As to answer to OP what's best course of action, my advice is to hodl as it's the stress free solution. You might miss the opportunity to acquire more BTC by selling and then buying back, but at least you won't loose anything,and thats also why something.

One thing is sure though, at least it's not boring .

[examplens]

I saw some media, youtube, 100% of people involved in the crypto world. 30% panic, there are hundreds of inaccurate and irresponsible information, many people sell, the current market conditions are red, I am completely wary of this phenomenon, my mind is stuck, solutions are not found, strange, but that's what is happening right now.

Here in the local newspaper (fully without any crypto knowledge) announced the news of the great fall of Bitcoin portraying it as a complete debacle.
The opinion is like ass, everyone has it. It certainly matters what the source of the information is.

1st February Bitcoin worth around $32k. 20 days later he touched $58k. How is real to double the price in such a short time and stay there although it is a long bull run period behind him.
I think this is just a consolidation.