September 21. HUGE dump!

[Questat]

The market seems to be bleeding now, Bitcoin is only down by 8% at the moment but major altcoins are down double digit.
https://coinmarketcap.com/

Will this be the start of the bear season?

We haven't witnessed a long and major dump this year yet, so seeing this might cause some panic especially on the altcoins holders as they are the ones who will significantly be affected since we know what would happen to altcoins if bitcoin struggles.

As per Binance exchange, the 24 hours low of bitcoin is $42500, so what's next?
https://www.binance.com/en/trade/BTC_USDT

[batang_bitcoin]

This isn't a huge dump, this is a normal correction that we have been fond of. And if this is the sign of another season, we do not know. What we can be sure of is that there's a following recovery after this and I'm looking forward to that.
The time that the market has corrected, this is another good reason for everyone to start buying.

[crzy]

A down trend has already started since the price of Bitcoin failed to sustain $50k, and also it started since the first day of El Salvador adopting Bitcoin though I still not see this as a bear market since we are still above $40k but on a critical situation now. Anyway, better to be safe and taking profit is ideal now and wait for the dump price before buying again, Bitcoin might enter into another bear trend.

[bhooscream]

Will this be the start of the bear season?

So far, most people think that it is just a normal correction, not the sign of the beginning of an upcoming bearish season. We already experienced big dumps many times this year, not really surprising to see another huge decrease in Bitcoin or altcoins. We can say this dump is happening to balance the market situation after several pumps in the last few weeks. Or this is just a sign of another big pump in the near future. Well, there are many possibilities to happen, we don't be pessimistic thinking about the sign of the bearish season.

[senyorito123]

This isn't a huge dump, this is a normal correction that we have been fond of. And if this is the sign of another season, we do not know. What we can be sure of is that there's a following recovery after this and I'm looking forward to that.
The time that the market has corrected, this is another good reason for everyone to start buying.

On this current scenario of crypto market, we must not ignore the biggest opportunity to own and hold profitable coins. While there's chance to accumulate our holdings, don't ignore it, because one day you'll regret of not having them on your collections. If market continuously goes like this dumping so big in percentage we may encounter much cheaper price on both alts and bitcoin market.

[Beparanf]

Bitcoin is consistently reaching that 43K to 44K many times after it breaks the 53K resistance. I think the dump from 53K is more intense compared to this current dump. Are you reading chart most the time or even weekly? The downtrend already start since last week and the current dip is just a continuation. 40K to 43K is a strong support so it might retest again that area and might pump again to 48K if that support hold.

[Bollexz1]

BTC indeed seem to be under extreme bearish pressure, 21 weekly MA broke and now testing 200 MA. Fortunately, if it could manage to stay here for few more hours, then I think bitcoin rebound is likely to showcases.

[btc_angela]

Lol, OP you have been in the market for so long, I think you will know that this is not a huge dump.

Of course the price plummeted, but it doesn't mean that we are in for a bear market. This could be the last drop leading to he upside we have been talking about at the end of the year, another super bullish movement leading to 6 digits for BTC. We've seen a flash crash from $52k-$43k and yet we bounce back to $48k, then it goes down to $43k again. And as others have pointed out, September historically has proven to be a bad month so here we are again. So just remain calm and not panic, things might change for the better next month.

[arwin100]

The market seems to be bleeding now, Bitcoin is only down by 8% at the moment but major altcoins are down double digit.
https://coinmarketcap.com/

Will this be the start of the bear season?

We haven't witnessed a long and major dump this year yet, so seeing this might cause some panic especially on the altcoins holders as they are the ones who will significantly be affected since we know what would happen to altcoins if bitcoin struggles.

As per Binance exchange, the 24 hours low of bitcoin is $42500, so what's next?
https://www.binance.com/en/trade/BTC_USDT

A huge dump is when we see bitcoin cross to $30k+ or worse to $20k but since we only see the figure still at $40k+ then we cannot see this as a big dump although this quite alarming but as other said this is one of normal correction happening. It's good to be calm at this storm and wait for the dip since this is pretty much normal happening to earn but also hopefully we cannot see this current situation a long heavy long days bearish season.

[Twinkledoe]

I think this decline is only temporary, on this occasion we can hold it, this is the right time, it is estimated that by the end of next month all altcoins will surge again, so we use this opportunity as best we can, if USDT has gone up, it means that altcoins are in a downturn. I hope that until the beginning of next month it is still in decline.

For those who are waiting to decrease the price of bitcoin, it is good opportunity to collect more. Or the reaction will be the same, they will wait to go down further. If you have extra funds, it is better to collect a lil bit while the price is going down. And this movement is just normal, we will see more of this. And for me, it is not huge dump. We are still above 40k. People are just exaggerated with things.

[kurniawan05]

I hope this is just an ordinary correction, not the beginning of entering a bear market, this condition is similar to the conditions in 2017 which ended up having a bull run at the end of 2017 and early 2018. Moreover, in December 2021 there will be good news about the improvement of the ETH network. c1

[Luqman]

For those who are waiting to decrease the price of bitcoin, it is good opportunity to collect more.

Yes, this huge dump is a chance to buy more Bitcoin and altcoins. So, it is not only a bad thing, but a positive thing as well. Those people who already prepared their money to buy in the dip (the lowest price), must be happy right now. But for people who don't have money anymore (already invested in coins), this is surely bad news. I personally experienced it, cannot buy a single coin because I have bought many coins several months ago. Now< I only can see my assets' value decrease day after day.

[Rigon]

Yes we can see the market has been dumping a lot.We do not see any reason for such dumping. But the market has been so dumping without bad news. We are currently seeing the price of Bitcoin at 42,500 dollar. The market I think is very fast Will go up again. We are all optimistic.

[lienfaye]

Im not certain for the reason of this sudden dump of bitcoin and altcoins but it doesnt mean we are already in bearish market. The price of bitcoin is still high compared to the value from previous years thus dont panic. We are just comparing the price from its last ath this year thats why some of us are thinking that bear market already take place.

Its just a normal scene, thus instead of worrying, why dont you fill your bags with additional coins? Its a good time to buy now since the market is bloody.

[khiholangkang]

The market seems to be bleeding now, Bitcoin is only down by 8% at the moment but major altcoins are down double digit.
https://coinmarketcap.com/

Will this be the start of the bear season?

We haven't witnessed a long and major dump this year yet, so seeing this might cause some panic especially on the altcoins holders as they are the ones who will significantly be affected since we know what would happen to altcoins if bitcoin struggles.

As per Binance exchange, the 24 hours low of bitcoin is $42500, so what's next?
https://www.binance.com/en/trade/BTC_USDT

This is not the biggest dump this year, because a few months ago the price of BTC also dropped to a price below $40k and rose again, this is a normal correction. September is always like this every year, and the next month will be better.

[cabron]

It appears that Sept indeed is a bad month for cryptocurrency, some analysts connect this kind of dumps because it's the start of school and so forth. But heck this is really a huge dump. That's $52K rise is a bull trap after all. It's good for the investors who can afford this dip, it's why Bukele buys this dip.
Regulations and the fud that's spreading are also adding to make the investors scared to panic sell.

[deathcode]

It appears that Sept indeed is a bad month for cryptocurrency, some analysts connect this kind of dumps because it's the start of school and so forth. But heck this is really a huge dump. That's $52K rise is a bull trap after all. It's good for the investors who can afford this dip, it's why Bukele buys this dip.
Regulations and the fud that's spreading are also adding to make the investors scared to panic sell.

we did hear some bad news, after the good news regarding El Salvador making regulations in favor of bitcoin. after the strengthening of the market now we see how much panic and fear of investors to enter the market because the decline could happen again. we'll never see a bottom again, but the market has corrected quite deep. many altcoins are in a bad situation right now.

[FinneysTrueVision]

It's too soon to say if we are going into a bear season. I hope we are not. The price had been flat for a while after we had a few positive weeks and I was seeing many articles saying that bitcoin would go to $100k. China is such a large country that any negative news could be enough to swing the price in either direction. The Evergrande situation is causing some panic right now but an 8% loss is not really catastrophic or anything. I am optimistic that we can recover from this before the end of the week.

[Jackl87]

The market seems to be bleeding now, Bitcoin is only down by 8% at the moment but major altcoins are down double digit.
https://coinmarketcap.com/

Will this be the start of the bear season?

I agree with most people in this thread, that we are still seeing a normal correction at the moment and no major dump, in the end we are still dealing with cryptos and price fluctuations of 10% per day are not that unusual here. I think the reason for this price movement is that whole evergrande Story in China. If there are more real estate companies that will be in big trouble soon then we will most likely see another downward movements at all markets not only in crypto.

[imstillthebest]

yes this can be the start of a major bear and its okay i guess ?  because we havent seen one for such a long time .
what we saw all the time are small dump and holders are exposed to it so i dont think this new dump can shocked them and making them panic sell .
since were taking bears here , the next price of btc can be lower than 4.2 and it could go 4k flat or below  .