What could be the cause of the recent dip?

[Godwinpaul]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

[bitkanu]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

Elon was doing FUD to the bitcoin and then recently CHINA is coming with its news to BAN bitcoin.

Both were creating massive sell-off in the market. I think that you must see the fundamental of the market rather than try to rely on your analysis. The bad news is more than a correction because this can create a long term bearish trend. It's the same story with 2019 - 2020 dump. Im still holding my asset even I already lost more than 50k USD but I have been getting almost 500k from the previous bull trend and convert it into the USDT.

[int03h]

The recent drop is the result of a technical pattern breakdown of the Bitcoin chart. I have seen traders predicting supports that Bitcoin could penetrate at $46,000, $42k and $38k respectively. Most of the above milestones have been passed. We are expecting Bitcoin to break through the $38k mark, if not, the next support will be at $35k and $32k.
Every time Bitcoin decreases in value, other cryptocurrencies will also decrease in value. That has become the norm in the cryptocurrency market.

[Refrumatrix]

You don't want to see dips? That's impossible mate and why keep staring at your portfolio when they are surging without taking profits? What if bears are slowly taking over the market? I never expected this bull market to last long mate so I've taken all profits I could and leave very few amount of money just in case

[WalkerIVIV]

You can at least spend a few minutes to visit coindesk or cointelegraph and you will be seeing what the thing that causing this bearish trend for the crypto market.

https://cointelegraph.com/news/chinese-trade-associations-sound-crypto-investment-warning

There are some bad news came to the crypto and these news are very important for the crypto users.

[jrrsparkles]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

It started with Elon Musk's tweets now the price is coming back when he said no to bitcoin.

No one can't predict when the bull run will end, if you are not someone who wants to take the risk by holding the assets for long time then its time to sell your profits.

[bittick]

mostly because of china ban rumour going around and it triggers people in the recent bullrun who mostly are newcomers to dump the coin altogether accompanied by some whales probably chinese whale that's just my opinion though but
just remember that china have banned bitcoin more than once, if i remember correctly they ban it 3x, idk what their intention is but it seems they want to play crypto market by forcing their citizen to sell it off probably to take profit from the recenrt bullrun and then they gonna lift it again in the future.
call me conspiracy theorist but at this point my statement above does make a little bit sense.

[sapnu]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

We can't really avoid experiencing such things, there will always be time where the market will suddenly go down. Considering the current issues bitcoin is currently going through like Elon Musk going against bitcoin after using its influence and China planning to ban bitcoin, we can really see how much of bad season it is for bitcoin. Maybe it is just a correction but this time, it wouldn't be the same with those that happened before, we may see bitcoin going down to the point that we will have idea of panic selling or suddenly abandoning bitcoin but if I were you, I wouldn't give up on bitcoin that easily.

[JeffBrad12]

Elon musk was going so crazy to the bitcoin after he calls bitcoin needs a lot of energy to operate its network while it's still nothing compared with the banking system.

China was planning to ban bitcoin again and again but the problem is so many people are still triggered by the announcement created by china. This has been happening for a long time ago.

At least india is thinking to unban crypto again in its country and i hope china will be doing the same thing like that in the future. These days are the craziest days for crypto.

It's better to hodl your asset if it has already gone to the dip

[Teraboy]

The announcement from china is the main reason why crypto is facing another dip again. I guess that if the crypto users must have speculated about what will be the future with crypto after the ban that came from china. This is happening so many times. I think that this dip will not be so long and crypto will recover again from the dip.
The pressure from china is not so big like what already made by elon musk. I hope crypto will recover very soon.

[Henrobakkara]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

I guess you must have seen why the market is headed the way it is but as for whether you should hodl the crypto assets you have is a question of how much you believe in the project, or should I say, how much good is the project? you don't want to keep hodling on to something that might not survive the long winter if this happens to be it. So if you assets are solid, I suggest to Hodl cos that's what I would do.

[iv4n]

Elon musk was going so crazy to the bitcoin after he calls bitcoin needs a lot of energy to operate its network while it's still nothing compared with the banking system.

China was planning to ban bitcoin again and again but the problem is so many people are still triggered by the announcement created by china. This has been happening for a long time ago.

At least india is thinking to unban crypto again in its country and i hope china will be doing the same thing like that in the future. These days are the craziest days for crypto.

It's better to hodl your asset if it has already gone to the dip

Elon is going crazy for months... and as I read, he plans to dump his billion in BTC! Well, he can do whatever he thinks it's best for him and his company!

As you said, China plans to ban Bitcoin, again! That happens at least once a year in the last 7 years!

Anyway, we can send Elon and China our thanks, if they are the reason behind this dump! At least we will have a chance to buy some cheap coins again! I bought yesterday some BTC under $40k, will be interesting to see where will be the bottom!? How low can it go!? To $30k? Maybe $20k?

[_IRMAN]

China again bans crypto https://www.reuters.com/article/idUSL2N2N510T
News of a country banning crypto, has a very bad impact on the price of BTC and other Altcoins. Moreover, China has quite a lot of crypto users.

[yazher]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

This is kind of normal in the industry of crypto were when the price is not going well, it will take for the crypto market some days to resolve it or some months. depends on when they will buy back again some coins simultaneously. they will be back again and that is for sure but the only problem is not all of the altcoins will recover, for some of them will remain their current fallen value for a long time and in some worst cases, they won't recover again.

[Orange89]

According to me there are two major reason for downfall of the market

First china being so many active user had announced to ban the uses of crypto which really impact all the coins and the market

Second big reason is none other but due to Elon Musk tweet that tesla doesn't accept the usage of Bitcoin due to these tweet market sickly suddenly shown a huge dip

But still i am holding all the altcoin and meme coin

[shinratensei_]

China again bans crypto https://www.reuters.com/article/idUSL2N2N510T
News of a country banning crypto, has a very bad impact on the price of BTC and other Altcoins. Moreover, China has quite a lot of crypto users.

it's not only banning crypto but the fact that if china was also restricting all of the payment and financial institutions to deal or offer the crypto service.
That means if crypto must be adopted by countries other than china to make china open its gate to the crypto again.
This shit is happening so many times. I just wanna know when china will be feeling tired to ban ban and ban crypto again. This will never end if this country still exists.

[v3liana]

Ya it's hurt for me too. I just returned into this crypto world and now all of my investment are down more than 50%, but i don't sell any single coins. I still believe the price will bounce back to the moon.

[makishart]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

I think that you are a new comer that never seen the big dump like this before but as an old player and i can suggest you to take a look at the all time chart of bitcoin.
The dump like this ever happened in 2018 and 2020. This is not something news in crypto when china was issuing very bad news for bitcoin.
This is not a usual market correction and this is a bit different than it dude.

[Ararbermas]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

just keep hodling mate no matter what happen yes the situation is getting worse after the bull run in the market but this is just a temporary situation and soon once the market gain enough strength it will be fine again, as the matter of fact recently some of projects in the market shown green so perhaps this isn't the end. 
Indeed in my personal opinion if you're a long term holder this is nothing because you know what will happen to the market even there are some factors that sometimes can cause changes, wherein the fact that it always recover is enough especially if you're in a good project..

[Kez1817]

It feels really bad going through my portfolio on blockfolio to see massive downward movement in the value of my holdings. I really don't know if this is the usual market correction we have periodically or the end of the bull run. Is it wise to keep holding or take what's left?

You're not alone mate. But this time that the market is not good, much better to keep some profit and convert it into an stable USD or simply convert to fiat money then buy at the dip. But if you are a risk taker person, you can still hold your assets and wait the time it will bounce back. After this bad news about china, I believe people will still invest in bitcoin and other digital currency and nobody can stop.