What's up with the recent decline?

[Dread Pirate Roberts]

As the title says I'm curious what's the real reason for the decline?
There are some altcoins that aren't down as badly as popular coins like ETH and BTC.
So what's your point of view regarding this decline?

There is viral on twitter china ban crypto and government start investigating high source using for personal and company mining. I think there is one of the major reasons why the price of crypto has fallen drastically in the last few weeks.

[worldofcoins]

Looking at the majority of the replies here on this thread which is " China's responsible "
Well, yes it's possible that China's responsible for that they don't have democracy but pure dictatorship and can change the rules on a Whim.
So you can see if that's the case then how easy it is to manipulate a market, which is China's specialty.

I recently made a thread about China linking with U.S, Where this guy "Dr.Fauchi" paid a lab in Wuhan to create Corona Virus along, there had been Email found regarding his Assistance in creating Covid-19, Along with Emails linking Bill Gates on the matter as well.

I'll post the link here if anyone wanna check it out: (Covid-19 Virus Research Criminal Found - Anthony Fauci): https://bitcointalk.org/index.php?topic=5342617.0



China's everywhere being the bad guy but somehow doesn't get hit to break it, I somewhat believe there are People pulling Strings behind China to show China on the frontlines of being a bad nation.
But we'll always be proud of "Made in China"

[kryptqnick]

I don't think anything out of the ordinary is happening with the price now. It's been a month of the price largely below $40k but always above $30k. It goes in ups and downs all the time, jumping by a few thousands here and there, and it seems to be already recovering from the current tiny cycle. The market is struggling, and I guess there's a lot of tension between buyers and sellers now, but it's not like we're seeing the price dropping even further for now, so there shouldn't be a particular reason for the fluctuations we're observing.

[Shenzou]

As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

So what's your point of view regarding this decline?

I think that a lot of people and investors have started to look at their options, since the recent news of companies like Tesla dropping bitcoin as a payment method and China banning bitcoin mining and taking some serious actions against it, and all of that is causing some panic as always that is leading to people selling, as of the other altcoins i think some of them are  centralized stable coins means that they don't get affected by anything and their userbase has no reason to dump them.

[worldofcoins]

As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

So what's your point of view regarding this decline?

I think that a lot of people and investors have started to look at their options, since the recent news of companies like Tesla dropping bitcoin as a payment method and China banning bitcoin mining and taking some serious actions against it, and all of that is causing some panic as always that is leading to people selling, as of the other altcoins i think some of them are  centralized stable coins means that they don't get affected by anything and their userbase has no reason to dump them.

Technically it's as it was always, -- Buy the Bitcoin first, then create hype, accept it as payment here and there, then dump it on people then make scare them by removing it as a payment option because of price's downfall.
~~Buy Again and repeat the same cycle with some modifications to the strategy.

How easy it's to manipulate the people.

[adzino]

As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

So what's your point of view regarding this decline?

Those "some" altcoins are probably shitcoins that are controlled by the developers. They can easily manipulate the price and keep the volumes up. So don't look at those.
As for the decline of other well know crypto currencies, it is because of series of "bad news" and FUDs being spread all over. People were already in fear that the price might crash. Those negative events just acted as a catalyst to cause the market to crash. And then there is China banning shits. This effect is short term. Keep holding if you invested or else you might cry later.

[speedy963]

The recent decline was bound to happen. In fact, it was really over due. But regardless, there are only two ways to go; either bitcoin goes back down a bit right now(which is what I am assuming) or goes up to 37k-ish levels of resistance then back to 40k-ish(if it succeeds, and then back again to 30k-ish levels. Short/mid term. After this happens, I expected steady ups. I even think that the month of july will be a great month for every coin.

[Woodie]

In forex trading for those using institutional style trading..what usually happens is,before the institutional investors buy they first have to sell and give that manipulative picture that market is going down when in reality its preparing to be bullish and this is likely what is happening and probably a coincidence with what's going on in China and the bitcoin miners.

So let's be on the lookout for market manipulation while the Chinese make the headlines.

[justdimin]

I'm a bit behind on the info it seems, which altcoin isn't as bad as BTC and ETH when the dump happened?  Because so far what I have seen is that if BTC drops, the overall market is red, especially altcoins that are not popular enough.  Because if you look at the market capitalization, BTC and ETH dominate around 70% so that if BTC goes down the market will also go down and vice versa, the both of coins will recover first.  CMIIW

That is true reality, when bitcoin goes down there is really not that many coins that makes a profit, it is definitely one way to say that it is not doing good and I fear that it will always be connected.

The fear of connected is that we do not really have any choice but to accept that we all go up or we all go down and what is the point of studying coins at that point? Sure some coins went more than others I am not going to argue that, but mainly when there was a bull run everything went up and everyone earned money, some more than others I agree but we all made money, and when it went down we all lost money, so why do I study all other coins? I could simply buy bitcoin with 50% of my portfolio and the rest 50% will be divided 5% with other 10 best coins (except usdt) and just hold? That would make me enough money and I would not have to research any coins by that logic.

[carlfebz2]

As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

So what's your point of view regarding this decline?

-Reason for decline?
1.Profit taking
2.Fud
3.Panic sell
4.Whale dumps

Reason for Dogecoin to dump?
1. Hype is over
2. Big hodlers cashing out

Not all coins would be going down but of course it would really be having price correction which is pretty normal.

When you do deal with crypto investment then you should really make yourself prepared into these circumstances.

[wheelz1200]

As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

So what's your point of view regarding this decline?

Just normal crypto cycles.  When people make tons of paper profits when things slow to a halt people start selling out to realize those gains.  Just profit taking, the real question is where will the new base be.  That's the scary part

[ethereumhunter]

Ethereum and Dogecoin follow the downtrend and so with the other altcoins. I hope it is the last correction for the bitcoin and crypto and in the next month, the price will start to increase.

Almost  all crypto dump when bitcoin price drop, we can see this happening always as alts are dependent to the movement of bitcoin. And I also hope that this is the last correction to see since if we can see more of it then maybe we will wait again another 4 years (next halving) to see a good price rally brougt by this event. But I doubt the pump will happen next month so better we should watch how the market moves.

If the new ATH before is the last time to take profit for us and we come back to see the bear market this year until next year, well that is hard to face because we need to wait for some time which we do not know when the price rally again. Actually, I doubt the pump will happen next month but I say to myself that I need to keep optimism and still wait for the good. If the pump still not coming soon, I think I need to watch the market and try to trade or I can use my time doing anything else.

[adaseb]

Reason for Dogecoin to dump?
1. Hype is over
2. Big hodlers cashing out

I am pretty sure those that were hodling Doge for the last 2 years like myself (bought at 25 sats) sold long time ago. I sold mine in ladders and my highest sell was 5 cents. Yes feel like an idiot for selling so cheap but keep in mind that I bought it for like 25 sats (forgot what the USD price was at the time)

And I am sure there are tons more like me and more were big hodl'er who probably most likely sold when the initial pump happened. Where it went to like 9 cents and topped, then traded sideways for like a month before heading higher. So most hodlers sold at 5-10 cents.

The reason is dumped is probably because panic started when TikTokers realised that its not going to hit $10 and they all started to dump on one another.

[oHnK]

That is true reality, when bitcoin goes down there is really not that many coins that makes a profit, it is definitely one way to say that it is not doing good and I fear that it will always be connected.

Yup, because of that I'm curious why the OP said there are some altcoin which isn't down as bas as BTC and ETH. When I have altcoin portfolio then BTC is down like yesterday, I loss 50% meanwhile BTC just crash for 10-20%.  I need some explanations of what the OP said. Maybe I got miscommunication of what he wrote.

[serjent05]

So what's your point of view regarding this decline?

It is simple, holders taking a profit.  Aside from that, bad news from different countries such as China forbidding merchants to accept cryptocurrency followed by closing miners on their jurisdiction and some country acknowledging Bitcoin as legal tender then later retracting the statement.  It sure affects the mood of the market.

[$crypto$]

So what's your point of view regarding this decline?

It is simple, holders taking a profit.  Aside from that, bad news from different countries such as China forbidding merchants to accept cryptocurrency followed by closing miners on their jurisdiction and some country acknowledging Bitcoin as legal tender then later retracting the statement.  It sure affects the mood of the market.

The news from China was quite shocking after hearing the news that mining was banned there even though this was not the first time news but before it was the same but still investors panicked seeing this and in the end they were not strong enough to hold back what they feared the price would fall to their bottom it is difficult to recover the money, therefore market spikes must occur this affects many fields including FUD everywhere.
But I believe it's strong enough for bitcoin to hold on and the price bounces back after doing its resistance.

[jaberwock]

So what's your point of view regarding this decline?

It is simple, holders taking a profit.  Aside from that, bad news from different countries such as China forbidding merchants to accept cryptocurrency followed by closing miners on their jurisdiction and some country acknowledging Bitcoin as legal tender then later retracting the statement.  It sure affects the mood of the market.

There are more to it, the price was going high and it failed to go even higher, 40k seems like a barrier right now, I know there are support points for drops and resistance for ups and all that but 40k is also a very big time psychological one as well, and that is why I think it is quite important to realize we are doing something that is not just financial, but also emotional as well.

This means when the price reached 40k levels that ended with the price going down because it failed to go any higher, even if it managed to hit just 42k that would mean 45k+ easily, or at least stay above 40k but since it failed that meant going down. It is simple really, when there is only one way to go and other direction is blocked then you have other direction blocked simple as that. It is not really a shocking thing, it is something that has been around for 10 years now.

[Hippocrypto]

As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?

There are some altcoins that aren't down as badly as popular coins like ETH and BTC.

So what's your point of view regarding this decline?

The decline is our support of current resistance, which I believed loosened bearish market dominance. On my point of views, this is a good indication that future potential pumps will be going to existence someday. Though it seems unpredictable, but we need to be careful when that time comes because if you haven't filled your wallet yet there could be tendency of frustrations by time we fail due to emotions.

[dothebeats]

The current decline is actually not surprising since bitcoin got off a hot start from 2020 while the rest of the world struggled to find something during the onset of the pandemic. It lasted for a good while, and we all know that what comes up must come down and that’s exactly what’s happening. The resistance @ $29k is pretty solid, as it was tested a few days back and it held on like a champ. A sideways market, IMO, is to be expected with all these news re: China’s recent actions on miners lingering the scene.

[milewilda]

The current decline is actually not surprising since bitcoin got off a hot start from 2020 while the rest of the world struggled to find something during the onset of the pandemic. It lasted for a good while, and we all know that what comes up must come down and that’s exactly what’s happening. The resistance @ $29k is pretty solid, as it was tested a few days back and it held on like a champ. A sideways market, IMO, is to be expected with all these news re: China’s recent actions on miners lingering the scene.

Most of the time it would really be having some corresponding reason on why market would really be having these kind of movement and whether its a positive or a negative one then these sentiments could neither gave out some effect or would just simply be ignored.We cant make out comments or words without seeing those market reactions which is a bit typical imho.People still get used to react that much whenever the market do make out its move
without realizing that this had been a typical movement ever since this market had started. Expect the unexpected and react according to it.