The dump was only a funding reset

[raji1995naya]

I agree that that might be one of the causes. However, we are all aware of how speculative the Bitcoin price has been from its inception. There is no justification for these kinds of drops or bull markets. It simply happens out of nowhere, and if you're lucky, you get something good out of it. It is quite difficult to accurately evaluate the movements of a cryptocurrency.

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[btc_angela]

I agree that that might be one of the causes. However, we are all aware of how speculative the Bitcoin price has been from its inception. There is no justification for these kinds of drops or bull markets. It simply happens out of nowhere, and if you're lucky, you get something good out of it. It is quite difficult to accurately evaluate the movements of a cryptocurrency.

Yes, it's a speculative asset, but the best one, so you either know how to take advantage of it's volatility or not. So whenever it drops or have this bull runs, we always find any reason behind it but we can't or we won't understand it, still boils down to the basics, law of supply and demand. So it could really that it was a reset that cause this flash crash. Good thing is that the price didn't go that further, so there's still have time to see a new all time high, or at least goes up again to $52k++.

[goinmerry]

I have to agree as well on OP's pointers and actually, no need for technical analysis involved on that. Crypto is volatile since the beginning and checking past performance is always a good reference.

But despite everyone's positive hope about bitcoin, we are sometimes still in the stage wherein being pressured to buy or to sell even how experienced we are.

Really need to get rid of that pressure time as much as we can if we eyeing for a long-term hold.

[Questat]

It wasn’t nice to see live, this is bitcoin though & none of us should be surprised. I have a habit of panicking when these things happen but I never sell. Isn’t cool to watch your net worth tumble. 1BTC = 1BTC though so HODLERS not affected etc. I am still fully confident that we’ll see more highs THIS year.

I hope that's what everyone will think, unfortunately though they say they are holders, but when they see this kind of big dump, they do panic and might sell at a lose. 1 BTC= 1 BTCis only more acceptable if there's already a massive adoption on bitcoin, but as of the moment, it's still always covered to fiat to see its real value.

[davis196]

Panic selling had always caused automatic liquidations by stop loss orders and trading bots.
BTC Price dumps had always caused increased levels of FUD,which might or might not lead to more panic selling(it depends on how "good" and "convincing" the FUD is). Those two factors always help for making price corrections bigger than they actually are.
It's a well known fact that September is a historically bad month for Bitcoin,I wonder why this month is so bad for BTC.Is it because September marks the beginning of Q4 of the financial year?Does it make any sense from a financial perspective?Is it because many crypto traders are returning from their summer vacations,so they decide to sell some Bitcoins?This doesn't sound like a legit reason to me.
 

[Kong Hey Pakboy]

I agree that that might be one of the causes. However, we are all aware of how speculative the Bitcoin price has been from its inception. There is no justification for these kinds of drops or bull markets. It simply happens out of nowhere, and if you're lucky, you get something good out of it. It is quite difficult to accurately evaluate the movements of a cryptocurrency.

Even if there is no justification, we can't discount the fact that it has done something to move the market. Plus there's no permanent dumps in any strong market, it will eventually go up and you don't want to be out of the market when that happens.

[Furious 7]

It wasn’t nice to see live, this is bitcoin though & none of us should be surprised. I have a habit of panicking when these things happen but I never sell. Isn’t cool to watch your net worth tumble. 1BTC = 1BTC though so HODLERS not affected etc. I am still fully confident that we’ll see more highs THIS year.

I hope that's what everyone will think, unfortunately though they say they are holders, but when they see this kind of big dump, they do panic and might sell at a lose. 1 BTC= 1 BTCis only more acceptable if there's already a massive adoption on bitcoin, but as of the moment, it's still always covered to fiat to see its real value.

This will not be easy to do unless you feel how the holders feel when a big dump occurs whether they will sell it or stay in a bad situation but in the end it will go to a high level.
Actually, it is still a mystery from many holders whether they are actually holders or just bullshit that is said in the article when the market reaction declines, of course there will be panic regardless we always see the market every day then it will be a burden for him to sell at the same price inexpensive.

[stomachgrowls]

It wasn’t nice to see live, this is bitcoin though & none of us should be surprised. I have a habit of panicking when these things happen but I never sell. Isn’t cool to watch your net worth tumble. 1BTC = 1BTC though so HODLERS not affected etc. I am still fully confident that we’ll see more highs THIS year.

I hope that's what everyone will think, unfortunately though they say they are holders, but when they see this kind of big dump, they do panic and might sell at a lose. 1 BTC= 1 BTCis only more acceptable if there's already a massive adoption on bitcoin, but as of the moment, it's still always covered to fiat to see its real value.

This will not be easy to do unless you feel how the holders feel when a big dump occurs whether they will sell it or stay in a bad situation but in the end it will go to a high level.
Actually, it is still a mystery from many holders whether they are actually holders or just bullshit that is said in the article when the market reaction declines, of course there will be panic regardless we always see the market every day then it will be a burden for him to sell at the same price inexpensive.

You would really be ending up as a holder when you do saw your portfolio is declining excluding into those people who had able to cut loss or had already sell earlier before the dump had started and this causes really for the

price to go down further and i dont really see for that kind of funding reset but rather a common or typical cycle for this market to have and this is why you should really be wise on how to play up things rather than
stressing yourself about dumps and crashes.

It wont be called a market in the first place if these things doesnt really exist.So better deal with it or simply get out of this market if you dont like it.

[Wawa2013]

~

~

At least, if you can calm down and still optimist, your emotion will not affect the market. We already see many times the market was dumped deeper but the market can back to the high price and going strong day by day. If we can manage our emotions, we will see something that can be a sign for us to be ready for anything that happens to the market. No matter what is the prediction from people, as long as you can manage your emotion and calm down, you will if there is an opportunity for you to get benefits from the current situation.

I have often said that controlling emotions is very important when investing in crypto. Because the volatile crypto market will make it easy for us
to panic, that's the beginning that makes us wrong in making decisions and end up losing money. As you said the crypto market often dumps,
but interestingly the market can recover and rise much higher than before. We should learn from the history of the crypto movement, to be able to
make a profit in crypto the key is to be patient and be able to control our emotions. If that can be done then we will always be ready to face
volatile crypto market conditions.

Hopefully, those new people in crypto can control their emotions and not panic and hold their bitcoin or altcoin tight and buy more amounts. This situation will not stay forever because there will be a moment to bring the crypto market rise and get the bull run. The crypto market will recover sooner or later and we need to be patient and enjoy the moment and benefit from the market. Who knows, the next bull run can happen this month or next month until the end of this year so we can back to make a big profit. Learning about controlling emotions is hard, but that is worth doing, not just for new people but also for all involved in crypto.

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control
their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get
the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with
volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to
the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

[bbc.reporter]

Also, everyone who blame this on the weak hands are wrong. There are no more weak hands, this is proven by onchain metrics.

I only agree with the part that this recent drop was not because of the weak hands but disagree with the rest. The weak hands are always around, their number dwindles during the downtrends and when price is not going up like what we had for the 3 months before the reversal began. But it never goes down to zero and also as the price was rising recently they are slowly coming back even though majority of them will come back when it is too late and price is sitting above $70k.
Besides, weak hands aren't seen onchain to be proven by "by onchain metrics".

Everyone is hodling, however, the problem, no one is buying.

You seem to have forgotten that price went up from $28k to $52k over the past 1.5 month which is because "people are buying"! Just because price isn't shooting up 30% per week doesn't mean otherwise.

It is the hodlers job to pump this if you want a pump. There are no more greater fools.

Wrong. Market manipulators with a lot of money are the only ones who can "pump" bitcoin and since bitcoin is not a pump and dump, it is extremely hard to pump it.

They might presently be buying tokens from the Solana ecosystem hehehe. The tokens continue to pump despite bitcoin’s dump.

Every day (WITHOUT EXCEPTION) there is (there has been and there will be) a bunch of shitcoins that are getting pumped regardless of what is going on with bitcoin or anything else for that matter. And the next day (figuratively speaking) they will get dumped.

I can agree on everything you said, however, telling everyone bitcoin is extremely hard to pump is very arguable. Onchain metrics is telling us that bitcoin is in a liquidity shock on the supply side of the spot market which might make it easier for the derivatives market to use leverage to pump the market and cause the spot market to go up together with it.

[justdimin]

Hopefully, those new people in crypto can control their emotions and not panic and hold their bitcoin or altcoin tight and buy more amounts. This situation will not stay forever because there will be a moment to bring the crypto market rise and get the bull run. The crypto market will recover sooner or later and we need to be patient and enjoy the moment and benefit from the market. Who knows, the next bull run can happen this month or next month until the end of this year so we can back to make a big profit. Learning about controlling emotions is hard, but that is worth doing, not just for new people but also for all involved in crypto.

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

It is not equal to have emotions and knowledge. Some person who is very new could have patience but not knowledge, or a veteran of crypto could have knowledge but not patience. One of them is something you can study and learn and get better while the other one is a bit about your personality, some people can become patient on investing very well on the first day because they are already a patient person, while the other one could basically be here for years but still can't control their emotions because they are a very emotional person.

So that means, is there are people who can do both, there are people who can't do both, and there are people who can do one but not the other. They are not relevant things, it is required to have both to have a great investment but just because it is required doesn't mean that everyone does what is required before they invest.

[Wawa2013]

~

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

It is not equal to have emotions and knowledge. Some person who is very new could have patience but not knowledge, or a veteran of crypto could have knowledge but not patience. One of them is something you can study and learn and get better while the other one is a bit about your personality, some people can become patient on investing very well on the first day because they are already a patient person, while the other one could basically be here for years but still can't control their emotions because they are a very emotional person.

So that means, is there are people who can do both, there are people who can't do both, and there are people who can do one but not the other. They are not relevant things, it is required to have both to have a great investment but just because it is required doesn't mean that everyone does what is required before they invest.

In theory, we must have knowledge and be able to control our emotions to be successful in the crypto world. But as you explained, not everyone
has both of these. Even I still see many people who do not have both still dare to invest in crypto, even though it will end in losses. Everyone
should continue to learn when deciding to invest in crypto, because I admit it is not easy to be a successful investor in the crypto world. I have
several times made big profits from crypto investments, never stop learning to increase knowledge about crypto and also trying to control
emotions better. Because if we really want to be a successful investor, never be lazy to learn about all things crypto world and keep trying to
control emotions when investing. I have been in the crypto world for more than 5 years, I can guarantee that these two things are very important
for investors to have.

[Ziskinberg]

~

That's why it's important to learn about the crypto world before deciding to invest. So newbie by having knowledge, they can better control their emotions, because newbies know how crypto works. But most newbies when they first get to know the crypto world, many get the wrong information, they think making profit from crypto is easy. It turned out that when they started investing they were faced with volatile crypto prices and finally they panicked. So I hope for investors who can control their emotions and have knowledge related to the crypto world. Can use this forum or social media to educate many people that it is very important to learn to control emotions.

It is not equal to have emotions and knowledge. Some person who is very new could have patience but not knowledge, or a veteran of crypto could have knowledge but not patience. One of them is something you can study and learn and get better while the other one is a bit about your personality, some people can become patient on investing very well on the first day because they are already a patient person, while the other one could basically be here for years but still can't control their emotions because they are a very emotional person.

So that means, is there are people who can do both, there are people who can't do both, and there are people who can do one but not the other. They are not relevant things, it is required to have both to have a great investment but just because it is required doesn't mean that everyone does what is required before they invest.

In theory, we must have knowledge and be able to control our emotions to be successful in the crypto world. But as you explained, not everyone
has both of these. Even I still see many people who do not have both still dare to invest in crypto, even though it will end in losses. Everyone
should continue to learn when deciding to invest in crypto, because I admit it is not easy to be a successful investor in the crypto world. I have
several times made big profits from crypto investments, never stop learning to increase knowledge about crypto and also trying to control
emotions better. Because if we really want to be a successful investor, never be lazy to learn about all things crypto world and keep trying to
control emotions when investing. I have been in the crypto world for more than 5 years, I can guarantee that these two things are very important
for investors to have.

Trust ourselves, trust the thing we've invested, I think everything went smooth and eliminate negative thoughts and worries. It all just happens that people don't understand themselves and they love to invest and risk their money but deep inside, they keep that usual worries and uncontrollable emotions as we know that this will led to losing. Maybe if we enlighten our understanding towards crypto and stop those doubtful minds, I'm very certain that it all be fine and have a success story.

[STT]

Top of a channel, reset back to 50 day average which despite a struggle managed to hold on and resolve above that measure and also the 200 day where the two crossed during this time.  Im not aware if the cross can be said to be the cause but its supposedly bullish.   
  I would speculate right now that 49k is an area where we can see some level of resistance from the prior sideways action and beyond that is the old trend or channel top.   I did expect more of a sell past 42k even but this was quite briefly executed.

[btc_angela]

^^ Yeah, it seems that $49k will be a tough cookie to break, we might attempt several times again, just like in the previous runs from $48k-$50k wherein it take us weeks to be able to break that huge resistance so here we are again.

Nevertheless, if we have reset back to 50 day average then it's a good indication that we might be in the semi bullish trend. And the price increase could be very slow for this month.

[buwaytress]

^^ Yeah, it seems that $49k will be a tough cookie to break, we might attempt several times again, just like in the previous runs from $48k-$50k wherein it take us weeks to be able to break that huge resistance so here we are again.

Nevertheless, if we have reset back to 50 day average then it's a good indication that we might be in the semi bullish trend. And the price increase could be very slow for this month.

This approach seems a lot faster, hungrier, more determined, though. Could be completely wrong of course but 200MA I always see as that push factor and it's really been breathing so close to the line I wonder if 50k might not provide the expected resistance.

I'm still happy where we are, more than I thought I'd be actually, given the walloping the bears must surely be feeling now.