Don’t Panic V

[Ziskinberg]

This is huge dumping of Bitcoin and for sure will make some people especially newcomers panic and sell their assets for loss. For old adopters this is not truly affected, when I see this correction, I am calm not worried one bit, because I know and believe it will recover.

My suggestion for newcomers don't worry about it, crypto will recover, hold your asset, and buy more

Newbie friends were panicking about this dump but when you told to see the price before they will changed their mind fast and wanting to buy more during this dump, we need to have our own set of decision making and don't believe too much in fomo so we will not regret the decision we take. I usually advise them to know what their goal really is since that's the only time they will be confident to decide for themselves whenever there is pump or dump in the market.

Maybe I have to ready my back for these panic sellers and weak hands. Let them sell it at a cheap price and catch them. They'll never know that we are waiting for them...
kinda be ridiculous but most of the time many people started to question the credibility of Bitcoin when they saw dumps and then some will suggest holding. But I'm in doubt if they will listen to us because what is in their mind is all about worries and anxiety towards the current situation and they are overly reacted to such a few changes.

[tokeweed]

8:00am in Asia came in the green and continued slightly up til 8:00am Europe came in selling.  There was a green candle in there but when 8:00am EST came, traders started selling again.

I’m not really sure if each 8am open from different time zones represents the sentiment of the market in exactly that part of the world rn but it’s fun looking at it that way.



Edit:  Typo

[BrewMaster]

^  I’d love to say ‘don’t panic’ but that has me worried, not gonna lie.  I feel like it’s gonna be a major blood bath first thing on Monday mornings of Asia, Europe then the US.  Keep watch on the hourly.

but there is no reason for the drop we had apart from panic selling by weak hands and when it is because of FUD it can not become bigger. right now price is sitting at 92% of yesterday's price (only 8% drop). which is a normal thing for a correction too.

There is a reason, it is not manipulation, it is not speculation, it is purely automatic and will go back up surely. The huuuuuuuuge amount of money that was borrowed in USDT at binance was liquidated, there were tons of people who did that, in billions of dollars, and when they got cashed out, it dropped more and cashed out more and just kept going until it wasn't that bad and all of it was liquidated.

It is not really anyone doing it, it is just automatic, when the price dropped just a slight bit, that triggered one wave, which triggered another and just automatically dropped. All the news about why it dropped is wrong because this is literally proven and factual data that could be tracked and seen, as long as we have that we know that it is neither manipulation nor pump/dump situation, it is purely unwanted auto move that was resulted by people who borrowed too much.

that makes sense but only a little bit because there is always a lot of people who are doing this exact thing in bitcoin market and binance is not the biggest place they dump bitcoin.
besides the drop because of such liquidations (and an automatic drop as you say it was) has a slow speed but if you look at the charts this dump was sudden. there is a huge red candle in 30 minute charts! that should be a good indication that this was manipulation and fake dumping.

[dezoel]

The weird thing is we are already above 56k+ on bitcoin, and interestingly most of the altcoins are recovering very fast as well. Look at ETH it is 2.2k+ right now, and BNB is 500+ already, those are great things. This drop caused bitcoin domination to be 51% and that is good for altcoin investors as well, not like bitcoin can't recover neither, I am sure it will go back above 60k+ once again very soon (and taking domination higher with it) that is why there was already nothing to panic, it was literally just a 24 hour problem that got solved this quickly. Anyone who worries about the price for this quickly should not be invested in crypto anyway.

You should be able to see drops and not be worried about it for long time if you really know what the crypto market is all about. Obviously nobody could say that if it goes down too much for a very long time they will be calm, if it drops too much for a while everyone will be worried but this was just 24 hours.

[posi]

The

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another overreaction by the market as usual.

As you said, this is an overreaction statement and I dont believe the China coal mine explosion was the main reason for the Bitcoin market dump in price cause some people also believe the dump in price was due to the investors swapping their holding for gold before the market correction.
We can't know the main reason.

[South Park]

^  I’d love to say ‘don’t panic’ but that has me worried, not gonna lie.  I feel like it’s gonna be a major blood bath first thing on Monday mornings of Asia, Europe then the US.  Keep watch on the hourly.

Without a doubt the decrease in the price that we saw was important and it broke up the tendency we had of producing new higher lows, this could be the beginning of a change in the trend but it is too soon to tell, there is still a lot of time left during this year and we know that bitcoin has the tendency to do well at the end of the year so we have no option but to see what bitcoin does during the next months as I do not think the bull run is going to end so soon.

[pixie85]

or it could be the Turkey ban thing.

or it could be the good ol' classic Bitcoin is boiling the oceans articles being released recently by the so called "journalists".

or it could just be the market correcting.

Who knows man. This should be something that's not new for Bitcointalkers lol.

It could simply be a bitcoin PI indicator peaking for the first time since December 2017

The main difference is that at all previous bull runs when the price peaked it crashed. Now we're still very stable. We need at least a 40% move down to talk about the end of the bull run. Without it we're still there just like we were after that large leg down in February.

I like how people always look for explanation and can't accepted that it's traders taking profit.

[rhodelmabanal]

or it could be the Turkey ban thing.

or it could be the good ol' classic Bitcoin is boiling the oceans articles being released recently by the so called "journalists".

or it could just be the market correcting.

Who knows man. This should be something that's not new for Bitcointalkers lol.

It could simply be a bitcoin PI indicator peaking for the first time since December 2017

The main difference is that at all previous bull runs when the price peaked it crashed. Now we're still very stable. We need at least a 40% move down to talk about the end of the bull run. Without it we're still there just like we were after that large leg down in February.

I like how people always look for explanation and can't accepted that it's traders taking profit.

I think bitcoin will not go down this year, this is a big bull run the past bull run that happens in 2017 is really different from the present bull run with reagards to price, i think it is really hard to wait for the another dip this time, because we all know that it will now take a long time before we saw dip or opportunity to buy and hold for us o earn.

[AliMan]

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another over reaction by the market as usual.

Slightly Fud spreaders will take advantage of this news, so we must be careful with our mindsets over the said articles. This might be put into exaggerating thoughts which is not healthy for us who still trusting cryptocurrency. Just let everything sette down to normal trend then later on our final decision still persist in the end.

[Ararbermas]

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another over reaction by the market as usual.

and then because you post this information.. Is it possible hodler from this forum will panic selling as well.. Another cause for the drop? Lol just joking  mate i understand what the title says..  
Actually if that news is true then perhaps we need to calm down first , since there's no enough proof for this incident.  
We should make research as well before making a decision in our investments because maybe its from ppl who spreading fake news around the internet , because that's how they can manipulate the market nowadays.
Wherein without knowing there's another "NORMAL" reason for the drop, and you will dive into it and you figured it out its a fake news afterwards . For sure you will regret of doing a sudden decision in your investment..  Lets be smart when it comes to this information around the internet..

[cryptomaniac_xxx]

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another over reaction by the market as usual.

and then because you post this information.. Is it possible hodler from this forum will panic selling as well.. Another cause for the drop? Lol just joking  mate i understand what the title says..  
Actually if that news is true then perhaps we need to calm down first , since there's no enough proof for this incident.  
We should make research as well before making a decision in our investments because maybe its from ppl who spreading fake news around the internet , because that's how they can manipulate the market nowadays.
Wherein without knowing there's another "NORMAL" reason for the drop, and you will dive into it and you figured it out its a fake news afterwards . For sure you will regret of doing a sudden decision in your investment..

Holders will be the strong hands here,  I doubt that they will be affected by this negative news. Yeah, probably the market just overreacts or people really don't know what they are up to, and just would push the sell button because of the FUD. So this is another lessons for everyone,  not to be affected by this news because it really doesn't bring anything on the table except regrets when we sell. The market has bounce back a bit, settled down and no more FUD around.

[blckhawk]

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another over reaction by the market as usual.

No exactly know what is the true reason why make is down today but perhaps it is one of the factors. Personally, I am thinking why the market is down because where are just in correction because we all know that Bitcoin just recently set a new ATH, and based on a past event like this Bitcoin goes a correction after breaking an ATH. Anyway, there could be a lot of factors not only one like I am pretty sure that Turkey banning Bitcoin was also had an effect.

[Becky666]

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another over reaction by the market as usual.

Slightly Fud spreaders will take advantage of this news, so we must be careful with our mindsets over the said articles. This might be put into exaggerating thoughts which is not healthy for us who still trusting cryptocurrency. Just let everything sette down to normal trend then later on our final decision still persist in the end.

Bitcointalkers should have understand by now what the market usually does whenever there are major decisions made by some whales,  FUD is what they consider win whenever they want to deal with the market, so, these news in my opinion doesn't actually have huge impact on the market than their FUD and when these FUD spreads there must be cork and bull stories that will follow and feeble holders will definitely panic sell.   

[beerlover]

8:00am in Asia came in the green and continued slightly up til 8:00am Europe came in selling.  There was a green candle in there but when 8:00am EST came, traders started selling again.

I’m not really sure if each 8am open from different time zones represents the sentiment of the market in exactly that part of the world rn but it’s fun looking at it that way.

That's actually a quite good graphic. Better than most others I have seen, most basically trade on what "should" happen and you have shown us something that is basically the sentiment of the markets and that matters a lot. Asia liked it, so they bought it, increased it, europe saw that, sold from the top when they saw it, then started to buy back from cheaper, then USA came in and sold the peak of EU and that is about it.

I think that is a good thing to see and you can make calculations based on that. Buy after USA drops it, sell when Asia increases it, buy when Europe drops it, and sell when EU peaks it, and buy back again when USA drops it. If this works, and if it is like that for real, people could repeat this and make money. Of course this was just one day, but I am sure someone can make a crawler that can check what happens depending on hours and see the larger results.

[Hippocrypto]

Wups...  So there’s news swirling around that a coal mine explosion at some province in China caused a huge power outage and prolly also caused BTC’s hash rate to drop by 30% or so.  That’s prolly the reason for the market sell down rn.  Just another over reaction by the market as usual.

Many people who've been so eager to earn huge profit had been fascinated with minor drops, and they still didn't learn to manage their emotions despite of all success in crypto. Everything will be overcome, just trust the best solutions that could fix this problems and I'm pretty sure those whales didn't want to lose in this game.

[skarais]

That's actually a quite good graphic. Better than most others I have seen, most basically trade on what "should" happen and you have shown us something that is basically the sentiment of the markets and that matters a lot. Asia liked it, so they bought it, increased it, europe saw that, sold from the top when they saw it, then started to buy back from cheaper, then USA came in and sold the peak of EU and that is about it.

I think that is a good thing to see and you can make calculations based on that. Buy after USA drops it, sell when Asia increases it, buy when Europe drops it, and sell when EU peaks it, and buy back again when USA drops it. If this works, and if it is like that for real, people could repeat this and make money. Of course this was just one day, but I am sure someone can make a crawler that can check what happens depending on hours and see the larger results.

It's really gonna leave us no time to rest, mate.  :v
But if the price fluctuation has something to do with the activity of trader from a certain area, then it is a good opportunity to make a profit. I just want to know more about whether that scenario happens every day or just a coincidence.

[milewilda]

That's actually a quite good graphic. Better than most others I have seen, most basically trade on what "should" happen and you have shown us something that is basically the sentiment of the markets and that matters a lot. Asia liked it, so they bought it, increased it, europe saw that, sold from the top when they saw it, then started to buy back from cheaper, then USA came in and sold the peak of EU and that is about it.

I think that is a good thing to see and you can make calculations based on that. Buy after USA drops it, sell when Asia increases it, buy when Europe drops it, and sell when EU peaks it, and buy back again when USA drops it. If this works, and if it is like that for real, people could repeat this and make money. Of course this was just one day, but I am sure someone can make a crawler that can check what happens depending on hours and see the larger results.

It's really gonna leave us no time to rest, mate.  :v
But if the price fluctuation has something to do with the activity of trader from a certain area, then it is a good opportunity to make a profit. I just want to know more about whether that scenario happens every day or just a coincidence.

You can test it for your own if it turns out to be effective on having those observations because not all would really be that too observant when it comes to technicalities and fundamentals.
We can make our own ways to make profits and go along with the waves specially into this market which is way too unpredictable.As long it can benefit out then
better stick and deal with it.For price fluctuations and unpredictability of the market then we do have to deal with it because this wont really be sparking
out big interest if these movements arent really present.

[skarais]

You can test it for your own if it turns out to be effective on having those observations because not all would really be that too observant when it comes to technicalities and fundamentals.

You're right, without testing it, I might never know what it really is.

We can make our own ways to make profits and go along with the waves specially into this market which is way too unpredictable.As long it can benefit out then better stick and deal with it.For price fluctuations and unpredictability of the market then we do have to deal with it because this wont really be sparking
out big interest if these movements arent really present.

I know that market fluctuation are the most important part of trading crypto asset, because without them, trader can't make anything in the market. So if difference in the activity of trader in various part of the world can lead to market sentiment, there is nothing wrong with taking advantage of it.

[Ziskinberg]

We are witnessing a free fall, and because bitcoin fall, there's no altcoin that will remain bullish as we can see it in https://coinmarketcap.com/.
This is just normal, people who think that bitcoin will continue to go uptrend without seeing a major correction are just stupid, hopefully they will not panic because if they do, bitcoin could dump below $50k, and we might see more serious dumps.

[South Park]

We are witnessing a free fall, and because bitcoin fall, there's no altcoin that will remain bullish as we can see it in https://coinmarketcap.com/.
This is just normal, people who think that bitcoin will continue to go uptrend without seeing a major correction are just stupid, hopefully they will not panic because if they do, bitcoin could dump below $50k, and we might see more serious dumps.

I do not think we can characterize the drop in the price we saw as a free fall, the drop was important and that is undeniable but when the price is still so high I do not know why people are panicking, people need to remain in control of their emotions or they will lose their money, to me this seems like a bear trap, people will begin to sell their coins thinking this is the end and then in a few months the price will be much higher and they will lament selling their coins for such a cheap price.