What could be the cause of the recent dip?

[Bilgent]

Elon Musk and China combined caused the recent dip to happen. There was also an investigation started about Binance but I don't think that affected as much as Tesla's decision and China's cryptocurrency ban.

[sitbang]

i am very disappointed this month, i just got back into crypto world and now all my investment has dropped by more than 60%, but i hold and don't sell a single coin i hold. I still believe the price will go up again in the next few weeks

[Adeosho15]

For the it’s the news surrounding Tesla, the announcement about not accepting Bitcoin as a method of payment, and the fear of selling the Bitcoin they hold at the moment, people are scared and don’t want to lose what they have gain so far

[LogitechMouse]

1. Elon Musk
2. China
3. Panic Sellers

These three are the main reasons of the recent dump that we are seeing right now. Because of these three, the crypto market is on a free fall. Are we in the bear market already? I don't think so. $30,000 is considered a strong support right now but if we broke that then hello bear market .

Always take note that dips = opportunities. Don't buy at the top but buy at the bottom. Now that we have given the opportunity to buy then lets not miss this opportunity. If you have spare cash, buy at a lower price.

[fortune1002]

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?

Yes mate my profolio has been almost half after the last big dip in BTC, but I hope my all money will be recovered soon.
There are many reasons for this market dump, Elon musk's tweets, China and panic sellers.

[bittick]

For the it’s the news surrounding Tesla, the announcement about not accepting Bitcoin as a method of payment, and the fear of selling the Bitcoin they hold at the moment, people are scared and don’t want to lose what they have gain so far

Tesla influence the market only back when btc was still around $50k, I doubt the recent dip because of tesla, elon also make tweet regarding how tesla gonna hold bitcoin all the way as a diamond hand, it's more to do with the misleading news regarding btc banning in china, unfortunately most of the new investors are lazy enough to read the whole news and find some other sources and that causes the dip, but there's certainly a lot more reasoning behind that and maybe the correction is already gonna occur doesn't matter if the fud exist or not.

[Reatim]

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?

if you got a good decision days back then you will be happy in this because you surely have a discount in buying bitcoin again.

Look at the price , falls down to 30,000 and now goes back to 40k ,from the almost  60k last week.
I am lucky man because i got to leave for a while in holding bitcoin and not i am buying altcoin with 30-40+ decrease in prices.

[X-ray]

I think the cause of the recent dip in the cryptocurrency market is a reaction to the ban China placed on all cryptocurrency.

Agreed but there's also the main thing that must be noted if this ban is a bit different caused by china was restricting all of institutions on its country to deal with crypto. that's different with the old ban that was still allowing the institution to deal with the crypto related service. I do believe the market will recover again but this time it looks like there are lots of panic selling happened in the market. '
I have been buying bitcoin at the dip price and im still waiting for the recovery to happen right now.

[trauchot]

It is difficult to say what exactly was the reason for such a huge correction of the cryptocurrency market, but most likely it was news from Elon Musk about bitcoin and Tesla and most likely news from China about cryptocurrencies and it seems that these two reasons caused such a fall of the cryptocurrency market, and manipulators took advantage of this and, of course, also began to quickly make manipulation with the cryptocurrency market, and we by ourselves see what this all led to.

[warg2017]

1. Elon Musk
2. China
3. Panic Sellers

These three are the main reasons of the recent dump that we are seeing right now. Because of these three, the crypto market is on a free fall. Are we in the bear market already? I don't think so. $30,000 is considered a strong support right now but if we broke that then hello bear market .

Always take note that dips = opportunities. Don't buy at the top but buy at the bottom. Now that we have given the opportunity to buy then lets not miss this opportunity. If you have spare cash, buy at a lower price.

I am afraid i have no extra money to buy, i was already fully invested a few days ago, and then the market goes down after i all in, haha.
To be honest, even if i have extra money i will not buy, i am really scare now.

[ILuckyGuyI]

The biggest reasons are: Tesla's decision about stopping Bitcoin payments and China's action on banning cryptocurrencies completely. Still, the market is trying to recover and Bitcoin price reached $40k today.

[Trinx01]

The reason is only because of the FUD made by a one of the richest man in the world Elon Musk so basically there would be a lot of people who will trust him because of who he is, the good thing to do for now it to keep holding or even buy more, this is the good time to buy more cryptocurrency especially bitcoin as its value is now lower compared to the ATH, Bitcoin will recover soon for sure because this FUD will not last for too long.

[kak uli]

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 think selling all the assets when the market is undergoing a correction is the right choice, and I think it is very smart and wise to keep all the assets you have in this situation. in the meantime we all need patience and don't panic too much about the market situation.

[Mahdirakib]

Elon Musk and China combined caused the recent dip to happen. There was also an investigation started about Binance but I don't think that affected as much as Tesla's decision and China's cryptocurrency ban.

Clearly those are the main reason for the recent dip of crypto market. And nothing can stop the panic seller who dumped their coins after hearing those news. People still says that crypto has bright future. We have seen this type of movement in past too. Some people says ‘this is the end of cryptocurrency’. But in reality, crypto market become more strong as the time goes. ‘OP’ should take his decision more wisely. Don't sell your crypto with loss. Better to hold it for long, market will gain back it's position in future.

[Fredomago]

looks like this is a big market correction and also added fud from elonmusk then news china banning crypto again of course made the market go down very deep, and also btc fell almost 50% in 1 day really a stepping phenomenon, so we might be ready for another dump otherwise the market will start moving upwards.

A huge fuds that really  move the sentiments ofall those people around this sphere, it's unavoidable since the influence of social media and the negative effects of news about China create fears around this market.

We do need to reassess our position as chances that there are more news that may bring the market to fall more, doing your research will helps a lot in terms of decision making, you need to trust your own judgements and not to follow blindly.

Keep your guard up and never to rush dealing with your decision making. careful and wise to lessen the chance of failing to comply with the market trend.

[imstillthebest]

i feel you man .
its bad when we see our assets in red but whats good is we can buy additional supply if you are not contented yet with your portfolio .
this is not a correction because there is a bad news that is released last day but correction of the price could occur naturally without a bad news but the bull run didnt leave us i guess because prices of  the coins dont drop massively .

[Fivestar4everMVP]

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?

One of the well known rules in crypto is that you don't loose until you sell, the market can go down to almost zero but if you trust the coins you hold to not be shitcoins, then keep holding them, it's gonna pay off someday, you loose your money the moment you click that sell button knowing you are selling at a loss, so it's better to be patient if you ask me, in my opinion, this is just a minor correction and I believe that soon enough the market will bounce back higher and stronger, maybe all that are grieved now will be very happy including you poster.

[acdc]

I think the market drop of the past few days is manipulative by sharks, Elon Musk and most likely the Chinese government is among them.
They sold out of their Bitcoin in the last bull run and they need to make bad news to lower the price of bitcoin to be able to buy in.

[Cappex]

what do you think of this discussion on 4chan? the message was sent before the crash and it seems that the prediction was accurate... could this really have been the reason?
https://boards.4channel.org/biz/thread/35710754

[dikistutmazsabri]

As the reason for the recent declines in the crypto money market, we can show the negative effects of Elon Musk on bitcoin and the news that China has issued on banning bitcoin. but it would be wrong to attribute the declines only to these effects. I hope these dips will be a correction. I think the bull season is not over yet. If this is the end of the bull season, the bear season looks like it will be tough.