btc dump today and yesterday

[Oceat]

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.

I would expect something like this in the future more oftentimes to happen if it's the only way to move up. Weak hands or traders it doesn't matter as long as the price correction is not that high to become a reason of a total market dump. It is speculated already that price will hit a new ATH in the upcoming pump again and to attain that, Bitcoin really need a correction to let new investors to buy-in to create more fomo.

[shoreno]

you already know that its caused by a volatility and your still wondering why . volatility dont have a fix rate that it will only go down or go up on the same pattern/value  but there are times that the price can dump or pump higher than usual .

we havent feel a big dump before thats why we feel it now and this dump can be small compare to the dump that will happen in the future so why not accept this current dump without hard feelings .

[best123]

Most causes of dumping are rumors. Though, may sell their asset based on how they bought it. Like me, i have percentage of profit for my assets. Any of them that reaches their is good to go. I have few altcoin that i am keeping for long period.

[Jemzx00]

With all the pump that has been happening due to different factors such as adaptation and involvement of major companies, it is bound to happen as there is not much that can hold the price at ATH. But still I don't think that these movements are the correction that everyone is waiting on but rather the fear of investors which cause the price to drop down.
Right now, we can still see a bunch of walls and support that lets bitcoin to avoid dipping too much. But still we should expect a lot lower of a price drop when the correction happens.

[kryptqnick]

Like many others, I think it's normal that the price went down a little. It's currently just 8% down from what it was a week ago, and when it's tens of thousands of dollars, it just always adds up to a lot in USD, thus making it look like something serious happened. I'm fine with corrections, and I do think that eventually there will be a pretty big dump of Bitcoin, but not right now. Some popular FUD news have to circulate, or some global event must occur to trigger the dump. I think it 2017 it was based on rumors of South Korea banning crypto exchanges or something like that. Now the market is bigger and the support is stronger, so it would have to be something bigger than that.

[DarkDays]

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

What you are seeing right now is a sign that bitcoin price is about to hit $70k before next month. Bitcoin cannot dump more than $40k because this year BTC is going to reach $100k based on what we saw during lockdown, that made many cryptocurrencies dumped, when bitcoin price was increasing massively the process. What you are experiencing right now should not make you to discourage with your coins you are holding because BTC is about to hit $100k soon.

I admire the optimism. Though with so many dumps in a row where in one single day BTC drops by 10% and every time the recovery gets weaker and weaker - is that a sign of future growth or the sign of a severe market correction?
Many people get shaken when they see the charts down by >10% within hours, and can't blame them. I do hope that HODL-ers are right and this is preparation for 70-100k.

[newwest]

The price rose too quickly above 50k and also some correction was expected may not be that big, and also considering last 2 days we have seen it has some momentum where firstly it was stable at around 50k and now after falling till 46k levels it has started to bounce back and moved till 47500. So, I am not panicking currently and it will regain above 50k in coming time. Might be taking some time before happens but nothing to worry I feel here.

[concept2]

This is just a small correction compare to what we have achieved recently. Nothing is needed to be worry. Just hold more and more bitcoin in your bitcoin because it has a huge potential to increase up to $100000 at the end of this year.

Unless you are a leverage trader, you do not need to understand the dump in the latest 2 days. Holders like us understand the concept of bitcoin and the advantages by just accumulating more bitcoin.

[Leviathan.007]

Everything is normal so far and there is no need to be worry about the price if you have a long term plan. during the price movement in bitcoin market sometimes the market will give you a discount and people will have a change to buy bitcoin in cheaper price. In the other hand, unfortunately, some new investors will lose some money because they start panic selling, however, this will give us a better chance for buying bitcoins.

[blockman]

No need to look for any reason. That's really part of it and if you're at loss, you don't have to sell and be in a panic. Just as it is.
We're waiting for another breakout by bitcoin and these drops are very common which has to happen. Because it's scarier if there are no corrections that happen.

[Dutchyyy]

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

You do not have to compare and predict the direction of the market compared to the last few months. Bitcoin and the crypto market in general are much more volatile than fiat currencies. The crypto market is much more susceptible to speculation and is influenced by various news on the Internet. I saw a graphic published before me by Tytanowy Janusz, it is better to look at it carefully.

[rdbase]

Most causes of dumping are rumors. Though, may sell their asset based on how they bought it. Like me, i have percentage of profit for my assets. Any of them that reaches their is good to go. I have few altcoin that i am keeping for long period.

Most are caused by rumor and hearsay but this one has got some substance to it because with $18mln USDT settlement finally happening and Bitfinex taking a hit from it, that could of caused some of the blood to be spilled when the dump occurred.
With all the news of bans happening in India and Pakistan along with F2 pool with miners doing a massive sell-off all at the same time,
Then it was once again a perfect storm which culminated all at one time.

[LUCKMCFLY]

Most causes of dumping are rumors. Though, may sell their asset based on how they bought it. Like me, i have percentage of profit for my assets. Any of them that reaches their is good to go. I have few altcoin that i am keeping for long period.

Most are caused by rumor and hearsay but this one has got some substance to it because with $18mln USDT settlement finally happening and Bitfinex taking a hit from it, that could of caused some of the blood to be spilled when the dump occurred.
With all the news of bans happening in India and Pakistan along with F2 pool with miners doing a massive sell-off all at the same time,
Then it was once again a perfect storm which culminated all at one time.

I had really seen all the possible causes of the drop, although not the Bitfinex thing, and it makes a lot of logic, after that fine the market in general may be bleeding, although Bitfinex must have an emergency safe that covers the equivalent, and for In order to get out of that problem that has been going on for so long, this is a very valid cause. Thanks for bringing it and sharing it..

[Asuspawer09]

It's a normal correction because in the past week market price is on a rally up to 58k$ without a dump the last ATH as I remember was around 40k$ in the market and continues to skyrocket.

After the Tesla announcement market price pump to 58k$ in just a short time, so this correction is normal I can guarantee it would back up after a few months or even less.

For now, market price could be back already as long as it didn't bring down to 42k which I think where the support is, it is not likely to go below 42k$ if it continues to go down it will probably reach 35k$.

At this time its a good time to hold your position and make a good profit, the market is just so volatile at this moment so you could play your position and make a profit in short term.

[kawetsriyanto]

It was a market correction and many people were panic and then sold off panic selling.
Well, this may elate to what happen to Elon Musk's statement and also condition.
We can see how a big person statement can really give a very big influence on the crypto world, especially certain coin.

[Ridwan Fauzi]

Seem like it will dump, the green candle from the weekly candle has been closed by this week candle although it cannot be ascertained because there are still 2 days to close the candle. But, if this happen seem like bitcoin price will go back to $30.000 and then to $20.000 as strong suppory in my opinion.

The correction phase is really needed for the movement price. Everyone will hoping it happen becausw if the correction come then someone's confidence will recover and start buying back at a low price. I guess there is no bad information that could make bitcoin dump a lot, it is just pure correction and taking profit by some investors.

[rdbase]

Most causes of dumping are rumors. Though, may sell their asset based on how they bought it. Like me, i have percentage of profit for my assets. Any of them that reaches their is good to go. I have few altcoin that i am keeping for long period.

Most are caused by rumor and hearsay but this one has got some substance to it because with $18mln USDT settlement finally happening and Bitfinex taking a hit from it, that could of caused some of the blood to be spilled when the dump occurred.
With all the news of bans happening in India and Pakistan along with F2 pool with miners doing a massive sell-off all at the same time,
Then it was once again a perfect storm which culminated all at one time.

I had really seen all the possible causes of the drop, although not the Bitfinex thing, and it makes a lot of logic, after that fine the market in general may be bleeding, although Bitfinex must have an emergency safe that covers the equivalent, and for In order to get out of that problem that has been going on for so long, this is a very valid cause. Thanks for bringing it and sharing it..

Everyone who has been involved with cryptocurrencies since the inception of tether on bitfinex had been waiting for that day to see justice being served. But that fine was just a slap on the wrist for them as they have made much more than just $18mln across all exchanges with more than most of the major exchanges still holding and trading tether on their platforms. So it will never go away even if it has been proven more than once they do not have the backing of fiat that they said they had for USDT 1:1. So it was essentially just created out of thin air and they kept the money printer burning bright until it melted red hot.
There has been many more accusations/speculations on why the dump occurred but these I listed were the major ones that had evidence and the others were just so outrageous that they do not warrant a reason to even discuss about here.

It's a normal correction because in the past week market price is on a rally up to 58k$ without a dump the last ATH as I remember was around 40k$ in the market and continues to skyrocket.

After the Tesla announcement market price pump to 58k$ in just a short time, so this correction is normal I can guarantee it would back up after a few months or even less.

For now, market price could be back already as long as it didn't bring down to 42k which I think where the support is, it is not likely to go below 42k$ if it continues to go down it will probably reach 35k$.

At this time its a good time to hold your position and make a good profit, the market is just so volatile at this moment so you could play your position and make a profit in short term.

$58k down to $47k at what were are now of this posting is $11k drop within a week is pretty unprecedented amount to lose for a short amount of time.
Even for bitcoin, so this is kind of more than a correction.
It could be a plan by those who have been accumulating in the past two months, such as grayscale (GBTC) and Microstrategy (Sailor) just for an example and not accusing these entities of any wrong doing, participating in a coordinated sell-off so they can buy back at a lower price.

But once again this is categorized under one of those speculation theories so do take it with a grain of salt.
Can it be true? Sure but someone has to lose in the end. So it does not make a whole lot of sense for them to do it. Unless to stir up the markets.

[Ewox]

I think it is just a normal and healthy correction like it has always done before, and I’m pretty sure it won’t just go down to like $10k. And a lot of weak hands contributed to the ongoing dump of bitcoin too, it’s best if you just hodl and wait ‘till bitcoins price steadies.

[Kemarit]

Seem like it will dump, the green candle from the weekly candle has been closed by this week candle although it cannot be ascertained because there are still 2 days to close the candle. But, if this happen seem like bitcoin price will go back to $30.000 and then to $20.000 as strong suppory in my opinion.

If the candle is going to be close with a dip, there could be another thread saying that we are in a bearish mode already.

The correction phase is really needed for the movement price. Everyone will hoping it happen becausw if the correction come then someone's confidence will recover and start buying back at a low price. I guess there is no bad information that could make bitcoin dump a lot, it is just pure correction and taking profit by some investors.

What is the cause of the recent dump? Simply: Bitcoin Future Contracts expiration on the 26th-29th. (or every 26th-29th of every month or every quarter). Usually around this time the price really dumps just like what we have seen last month. I'm not sure how much is the amount this month, but last month around $4 billion worth of bitcoin has set to expire.

[Shasha80]

Don't panic too much seeing the Bitcoin price in recent days, because a correction will definitely occur to be able to make Bitcoin price rise again.
If we look at the Bitcoin price movement chart, the current correction is still normal. And If we look at these two days the $ 45k price support is
strong enough to keep the Bitcoin price from falling further, it shouldn't be long before the Bitcoin price will recover and return to a price of $ 58k again.
So now all we can do is be patient and wait for the price of Bitcoin to rise again. In order not to be too stressed seeing the current market,
I suggest doing other activities that can be entertaining.