btc dump today and yesterday

[kvok1]

what  is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger 
Cheers

[Tytanowy Janusz]

what  is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger  
Cheers

No. Its normal.



5 market corrections during 2017 bubble was all 30-40%. We are now only 20% short from ATH. It is very likely that bitcoin will dump even to 35k before finding strong support.

Bitcoin needed strong dump. Weak volume during 50-57k rally already indicated that we will not go far higher without a little of panic.

[Coin_trader]

what  is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger 
Cheers

Weak hands selling off is one of the main factor on the multiple dump since yesterday. Since coinbase news didn't fully stop the bears yesterday, Weak hands are now selling in able to exit with profit before there position got loss if the long bearish season occur. Most of this sellers are those swing trader that bought when coinbase news released.

[jacafbiz]

I don't know when you got into the space but it is a normal correction for now to establish a new base for the forthcoming run. If you look at where we are just 4 to 5 months ago and someone mentioned BTC will be trading at $46k you will jump on that offer, the most important thing now is for $38k  support to hold because I have a feeling we will likely touch that area. If you are looking to buy it is the time to deploy more capital into BTC because I have a feeling $72k range is coming very soon

[Dave1]

what  is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger 
Cheers

Bitcoin losses around 26% last month, and reported that it was the worst since March 2020, wiping out around $150 billion. And this month we saw 23% dip as well, so the same thing happen again, repeating it's pattern. So I would say based on the cycle, it's quite normal to see it. But the thing is that bitcoin recovers very quick as well. So changes are, we are going to see another all time high next month to the tune of $60k-$70k tops.

[Oasisman]

what  is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger 
Cheers

Weak hands selling off is one of the main factor on the multiple dump since yesterday. Since coinbase news didn't fully stop the bears yesterday, Weak hands are now selling in able to exit with profit before there position got loss if the long bearish season occur. Most of this sellers are those swing trader that bought when coinbase news released.

Normally, yes it's the weak hands that's adding up to the massive sell off. This happens everytime.
The higher the price, the bigger the possible dump is because that obviously gives the weak hands and short traders a good profit.
Majority of crypto market today is in blood bath, but most probably Bitcoin will bounce back to $50,000 in a few days.

[cheezcarls]

Right now, Bitcoin is trading sideways. But for this week, most of the activity goes to a price downfall of BTC and other cryptocurrencies. This is really normal for us to see a correction. But the thing is that we should all understand about the risks that we are taking no matter where the price is going. We can’t just simply determine when will it go up or down, as it does without warning and with high volatility as well. Risk management is the best skill that we should learn.

[NeuroticFish]

I know its volatility , but comparing to last couple months its quite bigger 

Maybe you should look for more months back and also keep in mind to look as percents, not as absolute numbers. And then everything will look pretty much in the "normal" range.
I mean that $14k sounds bad indeed, but the corresponding 24% should be just a correction like we had before. And it can go to 30%+ too (I don't know if it will go there or not though).

[aoluain]

Today is the last friday of the month!

Futures contracts are terminating today at 15:00 gmt which means the short contracts
need the price to come down.

[BlackHatCoiner]

Maybe you should look for more months back and also keep in mind to look as percents, not as absolute numbers.

Couldn't agree more. If price drops from $50,000 to $48,000, that's a $2000 loss, but more importantly: It's 4%. The percent is what matters after all. While $2000 seemed a huge drop back in March 2020, today it's ten times smaller.

As for the topic: We'll have to get used to these dumps. It can't be increasing forever.

[Vaculin]

Maybe you should look for more months back and also keep in mind to look as percents, not as absolute numbers.

Couldn't agree more. If price drops from $50,000 to $48,000, that's a $2000 loss, but more importantly: It's 4%. The percent is what matters after all. While $2000 seemed a huge drop back in March 2020, today it's ten times smaller.

As for the topic: We'll have to get used to these dumps. It can't be increasing forever.

Definitely, we can't expect an uptrend forever, this is an investment, sometimes the asset will go down and pump, that's a normal market cycle. In fact, we even have the bear market and the bull market, we are lucky that we experience the bull market already and we should have taken the opportunity to profit from our holdings.

Be more steady OP as we might see more lower price, but bitcoin will certainly recover.

[meanwords]

Can't complain. More dumps to get cheaper Bitcoin. I mean, do you expect Bitcoin to go up forever? for me no, so I consider this dump a healthy correction. We all saw that Bitcoin can go $57,000, and that's not even that high considering that a lot of countries are still reluctant on cryptocurrency regulation. This is pretty normal. Just don't look at the market if your stomach can't handle it.

[Vaskiy]

This time price of bitcoin might test the 50 days moving average and reach $42000. Upon the market volatility there is more chance of price drop. For users who has been with plans of investment on bitcoin can wait for the opportunity to invest at the best price. It is expected to have upward movement through the year, possibly a downturn and further there'll be steady upward move.

[natefielding]

what  is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger 
Cheers

Bitcoin losses around 26% last month, and reported that it was the worst since March 2020, wiping out around $150 billion. And this month we saw 23% dip as well, so the same thing happen again, repeating it's pattern. So I would say based on the cycle, it's quite normal to see it. But the thing is that bitcoin recovers very quick as well. So changes are, we are going to see another all time high next month to the tune of $60k-$70k tops.

Yep its already a bitcoin cycle to have such corrections but with those corrections we can expect a good pump afterwards.

[mk4]

Jeebus. We get price drops a few days in a row and people are already asking "why dump?". Price pullbacks are pretty normal, people. I mean, we literally just ran up more than 500% from only $8,700 approximately 1 year from today. A pullback was almost inevitable.

[ene1980]

The market was rallying without any breaks and it is good to see that we are seeing a minor correction, the volatility is back and the price is fluctuating and lets see if there are more investment coming in during these correction, i am expecting the investments after these minor correction as the institutional investors are booking their profits at one end and then enter the markets again .

[pawanjain]

I am like "Finally a correction" and beginners here are like "Why a dump!".

This is what people needs to understand that an asset can't always go in one direction for a long term. Bitcoin was almost going on in one direction and it was about time for a good correction.
Corrections happen from time to time so that the weak hands can sell off and people who had missed the boat can get a buying opportunity again.
Bitcoin is still doing well though by staying at $47k. According to me it should have corrected and dumped to $42k.

[bassbity]

once Bitcoin hits ATH many times, panic will ensue, and dumping is inevitable. so keep your portfolio, don't try to put current prices. the possibility of correction will continue to grow. This is very reasonable, when the price has been high for too long.

[ChiBitCTy]

There are normally so many factors that go in to play each and every time there is a major sell-off, or a "dump".  This time around I think a lot of it had to do with Elon's dumbass saying he believed that both bitcoin and ethereum seemed "a bit high lol", they both dropped as well as recent negative press from Janet Yellen, Charlie Munger etc.  Though a lot of it is simply profit taking as well that really has nothing to do with any of that.

[TheBeardedBaby]

You can't go only up, even with Elon Musk and Jack pushing it up. There's always a need to release the steam a bit from that amazing race the bitcoin has taken in the last few months.
When you turn the price into USD and you'll see big variations in thousands it's scary but if you look at the percentage you'll see that it's almost nothing.