Another huge dump happening today, is this it?

[Japinat]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

BTC -11%
ETH -12%
BNB -14%

Major coins are in red, the rest will follow, what could be next?

[cabron]

The rumor was that it was confirmed that China's CBDC is backed by gold. There is no connecting the dots regarding this but the users are just expecting gold to be a better option now than BTC. Or maybe this could be the end of the bull market. I just read this on youtube video, nothing really so much to panic so don't quote me on this. I wanna know what others are going to say as well.

[stadus]

@cabron, that is a huge news, some investors maybe are putting their money on that as gold is more stable than BTC.
Nothing wrong with crypto market, it's just that some investors are not loyal, they come and go while continuesly looking for better opportunity.

As to bull run, we never know when it will stop but I guess we had enough already so it's possible that we are heading to a bear market.

[Desmong]

Normally the financial markets always move in a higher high(HH) and Higher low(HL) pattern. You just don't expect the market to be going high without a space of breath. The market need to maintain liquidity that's why it would go up and go down then go up to maintain equillibrium in liquidity. So this is just the normal pattern of the financial markets apart from news which could also affects it directional movement.

[X-ray]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

BTC -11%
ETH -12%
BNB -14%

Major coins are in red, the rest will follow, what could be next?

This news explains what factors that makes bitcoin gets dumped so hard

https://cointelegraph.com/news/bitcoin-dips-under-60-000-what-s-pulling-down-btc-price

There are some bad news that came for bitcoin from CHINA and US. We know that both countries were bitcoin houses and the bad news that came from US and CHINA will be giving a very big impact to the bitcoin like this time.

[ingiltere]

It wasn't worse than February crash, which was more than 40 percent losses we saw in altcoins. I think market needed this correction because too many coins were overvalued. Now new people may fear more but I don't see it as a sign to bear market yet. We can expect a little more correction and we go on again just like February and March. This bull run will be over sometime this year but I think it's not over yet.

[ivankoh]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

BTC -11%
ETH -12%
BNB -14%

Major coins are in red, the rest will follow, what could be next?

This news explains what factors that makes bitcoin gets dumped so hard

https://cointelegraph.com/news/bitcoin-dips-under-60-000-what-s-pulling-down-btc-price

There are some bad news that came for bitcoin from CHINA and US. We know that both countries were bitcoin houses and the bad news that came from US and CHINA will be giving a very big impact to the bitcoin like this time.

I looked around for the conflict today.  It seems that some financial institutions in the US have been leasing user identities from coinbase.  Somehow, they have a special bond and go into manipulation.  This monetizing sinister is widening the conflict gap between the crypto community.  Hopefully, all doesn't lose or diminish the gains of this bad thing.

[posi]

The rumor was that it was confirmed that China's CBDC is backed by gold. There is no connecting the dots regarding this but the users are just expecting gold to be a better option now than BTC. Or maybe this could be the end of the bull market. I just read this on youtube video, nothing really so much to panic so don't quote me on this. I wanna know what others are going to say as well.

China is not the first country to claim a certain currency is backed by gold but I have never for once saw a statement made by the government of China that their CBDC is backed by gold and it possible that the rumor is to hype the coin.

Technically gold is less volatile than crypto and I won't be surprised if some investors choose to change their investment profit through gold investment which have been experiencing dump in price for about 6months ago but it too early to be sure if all this are truth because gold only experience +13.16 price growth in the last 24hours.

[Cengghengmania21]

Why are you so concerned about this situation, my friend. isn't this all trading. indeed in trade the rise and fall of prices is common. we are the only ones who can determine when we should take advantage of this market situation

[Beparanf]

Bitcoin growth since last month is more than the current percentage loss. Bitcoin already reach the New all time high so its normal to see a minor correction since traders will take profit. The current sell off is just a chain reaction of panic selling but soon it will be recover once the price reach a support maybe on this week when the weekly chart open new candle.

[Myleschetty]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

No can know or tell what actually cause the bloody status of the market but it something we should expect though cause some traders will be satisfied with the profit they make when the BTC market reaches $64K.
Having said that, the arbitrage traders play a huge role in the market price when it bullish market.

BTC -11%
ETH -12%
BNB -14%

Major coins are in red, the rest will follow, what could be next?

If alot of investors don't panic sell, the market will regain its bullish but if alot of investors panic sell you may see the total market correction fast than we expected.

[Fesatmas]

the news is still confusing, so hopefully this concern will be resolved soon. mentally we will not fall easily, the decline always occurs in the market, even though there are many issues that are currently circulating regarding the destruction of bitcoin, so we just need to prepare everything possible from a bubble burst that starts blindly on our unsaved assets. keep in control of emotions, and believe me this phenomenon often occurs, we are only faced with a situation when the price of bitcoin has exceeded its ATH. remember there will always be a green market in sight.

[ololajulo]

A lot of news on the dump but I think the coinbase IPO hype is over let's have another run maybe by another news or developments. I saw the speculation of the collapse of the hash rate, it was considered a normal response and repetition of 2017 hashrate but things are happening faster than in previous.

[ene1980]

@cabron, that is a huge news, some investors maybe are putting their money on that as gold is more stable than BTC.
Nothing wrong with crypto market, it's just that some investors are not loyal, they come and go while continuesly looking for better opportunity.

As to bull run, we never know when it will stop but I guess we had enough already so it's possible that we are heading to a bear market.

You cannot play the loyalty card in an investment market, you can only trade according to the market trends and if you are too adamant about your decisions then it will only hurt your bank balance and the market will move on as usual  . I am not entirely sure why the entire market went down but we were in a bull run for months and it is time we see a minor correction.

[tabas]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

I saw on reddit that a hacker has sold a lot of bitcoins from the incident in the past but can't find the link of it. But there's another one that has posted about why there's a dip. Here's the link: https://www.reddit.com/r/Bitcoin/comments/mtcuwt/if_you_wondered_why_the_dip_heres_why/

Major coins are in red, the rest will follow, what could be next?

Recovery.

[Russlenat]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

I saw on reddit that a hacker has sold a lot of bitcoins from the incident in the past but can't find the link of it. But there's another one that has posted about why there's a dip. Here's the link: https://www.reddit.com/r/Bitcoin/comments/mtcuwt/if_you_wondered_why_the_dip_heres_why/

With more FUD, it's easy to stop this bull run, probably they (whales) are doing that because they are already satisfied with what they have made so far.
price dip means they'll start from the start to accumulate and wait for another situation like this.

Major coins are in red, the rest will follow, what could be next?

Recovery.

Recovery or more dump.. we never know, as of now, prices are still down, we can't say it has recovered yet, but let's wait and see.

[Sled]

FUDs, market manipulation, hacking incidents, all of these things create a huge impact in the market and likely these weak hands sell their crypto immediately.

But the market won't let this thing get worse, in fact, Bitcoin started to recovery now.


And I hope altcoins will follow back and keep the rallying momentum playing.

[X-ray]

We are again seeing a bloody market, what is happening, do you know what's the reason behind this huge dump?

BTC -11%
ETH -12%
BNB -14%

Major coins are in red, the rest will follow, what could be next?

This news explains what factors that makes bitcoin gets dumped so hard

https://cointelegraph.com/news/bitcoin-dips-under-60-000-what-s-pulling-down-btc-price

There are some bad news that came for bitcoin from CHINA and US. We know that both countries were bitcoin houses and the bad news that came from US and CHINA will be giving a very big impact to the bitcoin like this time.

I looked around for the conflict today.  It seems that some financial institutions in the US have been leasing user identities from coinbase.  Somehow, they have a special bond and go into manipulation.  This monetizing sinister is widening the conflict gap between the crypto community.  Hopefully, all doesn't lose or diminish the gains of this bad thing.

Agreed but it looks like the market is starting to recover again from the bottom price. I hope that bitcoin will recover as soon as possible. There was a big dump and that make so many positions become liquidated.
The market needs to find another supply as well as 60k supprt already disappeared.

[cabron]

Cointelegraph article said the cause of this crash is the Chinese power blackout which a brief hash rate crash. There is the article https://cointelegraph.com/news/bitcoin-price-drops-to-52k-liquidating-almost-10b It's not a rumor, Cointelegraph writers published it and they knew more about where the miners are located and its on Xinjiang province while authorities can't find them. FUD or not it happened and nothing else can be done there.  

[CutePanda]

It's just a short correction, don't worry and don't be panic guys.
I'm sure that all of altcoins will bounce back from this red zone, it's just a short and normal correction.
to be honest the more scary is if the price keeps skyrocketing but never decreasing,
so let's just hold and keep your altcoins for now.