What could be the cause of the recent dip?

[husdemba]

After an incredibly big and rapid decline, the markets are currently recovering. Hopefully this was a correction. I think we watched a final shake before Bitcoin's hike to $ 70000. I wish cryptocurrencies will be stronger than before.

[ipanks]

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 are not alone, as all people who invest in crypto will have the same thing as you. It is a big correction in the crypto market and it is always like that. But this time, the correction is too deep and makes many people panic, and I think they sell some of their coins to buy back at a low price. I still keep holding my coins but I also try to buy back at a low price. So you can do the same as me if you want.

[apa don]

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.

Now there is some bad news for cryptocurrency and on average it has to do with China, so the downturn in the cryptocurrency market is happening in huge numbers now, so the solution is to be patient and wait for the fix to arrive.

[ecnalubma]

Probably another fud that brought all the markets down. Billionaire’s make things happen and this is what they do, if you sell you will lose but if not then rip the harvest in the future. They keep using old fud’s to bring the market down, same old trick yet still effective.

[speedforce]

This flash crash and recovery is the first thing which came to crypto. Its hit my stop loss then bounce back as fast as my eyes blink.
I cant think any plan when its happen, sadly i will hold my last bag in spot and will open it later. Hope the price come back faster so i can recover my lost.

[Bitbtc8]

Same thing happened in last bull season where china put ban on crypto and the market start crashing but still even if there is no ban the market will still crash, people needs to understand that rise and fall is why crypto survives

[Ozero]

After an incredibly big and rapid decline, the markets are currently recovering. Hopefully this was a correction. I think we watched a final shake before Bitcoin's hike to $ 70000. I wish cryptocurrencies will be stronger than before.

The reason for the current deep fall in prices in this market is its prolonged preliminary growth. After such a high growth, a fall is inevitable. And here it is no longer very important what was the last straw for this. If it were not for the statement by Elon Musk about bitcoin, for which he is now so strongly criticized, there would have been other similar events and prices would have collapsed all the same. The cryptocurrency market develops cyclically, and current events are proving it once again. Therefore, today's price drop should be treated as normal, logical and natural events.

[Momoamzad]

I think Elon musk rejection of bitcoin impacts on market . Bitcoin is down a big % .and it affects on other crypto currencies . Another reason may be t China again reject bitcoin . Both along  make down whole market.

[Little Mouse]

That was the 1st wave.
Second time, JPMorgan said that people interests to invest in gold and skipping bitcoin are getting increased. According to CME futures contract, many have this open interest. After JPMorgan said this, market reacted heavily. BTC even got down to $30k.

[NorvsGanda]

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?

That is really bad for some people who don't TP when the market is on the pump but this market dip is good news for those traders/investors that already take their profit a few weeks ago. Because they already maximized the market on being bullish and they have enough funds to go shopping while the market is currently on sale. In other words, they sell on green and buy the red. The question is, on what side are you on right now?

[KimmyF]

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 don't know how many people noticed, but I'm sure that you didn't notice. Cryptocurrency never followed any news, check the history of marketcap value. Always for any correction, we blame those news. After everything, the marketcap always increased. We blamed "Elon musk" for the price of 42k USD, now we have nothing to blame. So now we are asking each other to know the real reason, but I knew it and this bear trend could alive approximately 2 months.

[batang_bitcoin]

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?

Too many bad news that led many big whales to sell what they've got. And I'm sure that they've probably waiting for just another dip for them to get back. It's really bad if you're checking your portfolio from time to time. I think it's now time for you to uninstall the blockfolio app for the meantime and just focus with the accumulation. Reinstall it back when the market goes better but this time, you just have to endure what you're seeing or do something like buying the dip.

[Oasisman]

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?

Market corrections doesn't have specific range to call it as "usual". Corrections are inevitable and that's a nature of a highly volatile market. Whether it's a short correction or sharp correction that's still called a correction, a sudden declination of price after the bullrun.
Now the question is, is it wiser to take what's left even If it means you're not profiting just to avoid further loss?
Of course not. As long as you're not holding the shitiest coin, I guess you're fine to hold it and wait till it pumps back again.
Market cycle goes up and down. Not all the time the price is on top.

[CaVO32]

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?

Market corrections doesn't have specific range to call it as "usual". Corrections are inevitable and that's a nature of a highly volatile market. Whether it's a short correction or sharp correction that's still called a correction, a sudden declination of price after the bullrun.
Now the question is, is it wiser to take what's left even If it means you're not profiting just to avoid further loss?
Of course not. As long as you're not holding the shitiest coin, I guess you're fine to hold it and wait till it pumps back again.
Market cycle goes up and down. Not all the time the price is on top.

Also, if he doesn't have urgent needs for his cash, better hold it. As you said, as long as the coins are not considered to be the crap ones, there's a chance that it will go up again. But if it is a crap coin, high likely that it will be totally abandoned by the 'dev' team. So if you are holding like eth, bnb, just for example, I guess there's no need to worry. This correction is needed for a healthy market. And it doesn't mean the downward movement is forever, so sooner or later, we will see the upward movement again.

[kayiboyu]

I think the reason is quite obvious. The reason of the first decline was Elon Musk. And the reason of the second one was China's ban on cryptocurrencies. After this news, Bitcoin price has been literally destroyed.

[Desscount]

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?

don't sell it, just hold on if you've bought it at a high price, because I'm sure after the dump there will definitely be a pump, that's a cycle,
I also still hold, even though my portfolio is still losing money, everything will be fine, bitcoin dominance has dropped sharply,
wait just until things get better, then, boom! altcoin season starts 

[adekogbe]

The cryptocurrency market as a whole lack a lot of fundamental elements to back up the values of the various assets making it easily influenced by FUD and bad news.
The recent news out of China was like the last straw after the FUD that resulted from the Elon musk tweets about Tesla no longer accepting BTC

[memyselfandi]

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 should already TP when the market is on the top and hodl until the market dump so that you will maximize the market of being the sale. Crypto market right now is not just in the correction phase, it is on the crash that is why most of the coins are down around 40% and up.

[oscarftw]

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?

Already thinking about taking profit! How would you survive in the real bear market? Even the whole cryptocurrency wasn't down 2 times and 55K to 38K USD of Bitcoin. Before this correction is over, I think again Bitcoin will take dominance that could be the last time until the bear market. I won't be surprised if we can see bullrun again after 3 months.

[gribalenfeksiyon]

There may be many reasons for the recent declines in the cryptocurrency market. And one of these reasons may be the ban imposed by china on bitcoin, people withdrew from the market due to elon musk's disgrace of bitcoin and the bitcoin sales that he made, but these are not the only reasons for these declines. It may also be time for the bitcoin correction, and after this correction the market will rise again with a stronger rise. Our only fear is that these falls will not last long.