What happened?

[BernyJB]

Silberman: that actually makes a lot of sense, especially when you consider a lot of the response to a coin's movement may be automated. I hadn't thought of that.

andriarto: that's what I wanted to know. I've been researching for a bit over a month (including the aforementioned course), but it surprised me to see such a fast reaction from other coins.

Darker45: sorry, that wasn't my intention (and it sure isn't my intention to make a disaster with my money...  )
Either way, I'm intending to start investing on 6 different coins (including bitcoin, ethereum and bnb). What I meant was, if I'm investing in a number of different coins, it would make sense to get coins that are not going to crash all at the same time (yeah, I understand there's no way to really know). 

1. In a market that boasts transparency, it remains a coin with an unknown founder.

It's a feature, not a bug. Having an unknown founder means that we have no idea about his/her/their political views, other intentions, etc. And especially knowing that the founder isn't active anymore, it makes the decision making around Bitcoin's protocol updates more decentralized.

Oh, I know it's not a bug.  Bugs don't take 12 years to fix. I'll have to disagree on the "feature" thing though...
Having an unknown founder also means there's nobody responsible (legally) if things go south. For all we know, Bitcoin's founder could be Bernie Maddoff, or Kenneth Lay. The point is transparency only works if you display it always, not only when it's "convenient" to you.

2. I have read Bitcoin's whitepaper, and it's mostly an essay about the advantages of cryptocurrency, but not about Bitcoin. 

Take note that all the cryptocurrencies you can see right now on CoinMarketCap doesn't exist at the time the Bitcoin whitepaper was written. Bitcoin bootstrapped all that. If you really want to learn Bitcoin's advantages though, you'd have to look outside the whitepaper, on other articles. Obviously because Bitcoin has almost nothing to compare to back then.

I understand that, but Bitcoin's owner(s) have had 12 years to state their purpose. Articles are, at best, educated guesses. I'd like to see an official statement, straight from the coin's owners, to that effect

Just to make things clear: that doesn't mean that Bitcoin is a no-no for me. I'm considering to (ideally) start on at least 6 different coins, and I do acknowledge Bitcoin's pre-eminence on the market. But I wouldn't even dream to have a 100% Bitcoin portfolio.
The reason I started the thread is because, while I'm aware of the market's fluctuations, it surprised me to see such a fast reaction from other coins (especially Ethereum and bnb) to Bitcoin's dip.

In any case, this thread has been very informative to me. Thank you all for the help. 

[batang_bitcoin]

@OP, you'll learn that the market is synchronized with bitcoin and taking it as your first investment is always the best idea ever. Just go along with the market and you'll learn a lot from it and don't stop asking question that confuses you to make you understand more about the market's volatility.
It's just your start upon asking what has happened and there are factors triggering the dips and pumps through good and bad news.

[el kaka22]

Thing is, I'm yet to start my investment (maybe in the next few days). I've just finished a course by Chris Haroun on the subject.
So I've been keeping an eye on the prices of Bitcoin, Ethereum and Binance Coin for the past few days. As you all know, all three coins took a dive yesterday. What I just noticed is that all three fell about the same time (around 4 A.M. yesterday), and recovered also about the same time (24 hs. later, about 4 A.M. today).
Did anything happen, that would cause such a synchronized dip and recovery?

There are rarely any specific cases where bitcoin price drops for one exact reason, and goes back up for a specific reason as well. It is usually something that market does all by itself and then recovers whenever it wants to. This time around it was something in the 24 hour margin and that happens all the time as well, it is not very unique or rare.

You have been checking just 3 coins so you saw that, but if you checked the whole market you would have seen a lot of coins went down at the exact same time and went up together as well. This is something you will keep seeing in crypto world many many more times in the future. Also welcome to the crypto bandwagon, it is really profitable, hope you have fun.

[savetheFORUM]

There are rarely any specific cases where bitcoin price drops for one exact reason, and goes back up for a specific reason as well. It is usually something that market does all by itself and then recovers whenever it wants to. This time around it was something in the 24 hour margin and that happens all the time as well, it is not very unique or rare.

You have been checking just 3 coins so you saw that, but if you checked the whole market you would have seen a lot of coins went down at the exact same time and went up together as well. This is something you will keep seeing in crypto world many many more times in the future. Also welcome to the crypto bandwagon, it is really profitable, hope you have fun.

We all keep asking this same question a lot, what happened to Bitcoin and other cryptocurrencies? Well, these are volatile assets that you are about to invest in, so you should always expect some decrease and increase here and there. It’s not going to be a stable investment, at every second the market is going to get a shake and the price will change even to the least you expected.

Yes sometimes we do see events that take place and trigger all these changes, but it is not all the time that all these things happen, so just take it that there are times it is bound to happen even without any event having to take place. You know the market is based on demand and supply, so that’s also going to play a role on the market price

[Oceat]

@OP, you'll learn that the market is synchronized with bitcoin and taking it as your first investment is always the best idea ever. Just go along with the market and you'll learn a lot from it and don't stop asking question that confuses you to make you understand more about the market's volatility.
It's just your start upon asking what has happened and there are factors triggering the dips and pumps through good and bad news.

It's not that to ask if you don't understand something like the volatility but to understand what you are investing you should really know what are the pros and cons so that you won't be surprised if something ever happened to your investment. But worry not since this is just the normal movement of the market and if you look at the chart all over the years, Bitcoin isn't really dropping or depreciate but it's appreciating over the years. Although, it just takes time to get to this price, it's just you HODL your Bitcoin for long term investment.

[Victorycoin]

To invest in bitcoin you need to understand the volatility of the market and learn about the market well market movements are always fluctuating so it is a good decision to hold on to get the right price. Investing in bitcoin and other cryptocurrencies is becoming more popular as the technology grows in popularity and the media promotes enough for their lucky ones to make it bigger through investment. Hold is held onto bitcoin or other crypto even when its price is falling or rising sell your bitcoin when it increases in value by 10%.

[nur rochid]

There are rarely any specific cases where bitcoin price drops for one exact reason, and goes back up for a specific reason as well. It is usually something that market does all by itself and then recovers whenever it wants to. This time around it was something in the 24 hour margin and that happens all the time as well, it is not very unique or rare.

You have been checking just 3 coins so you saw that, but if you checked the whole market you would have seen a lot of coins went down at the exact same time and went up together as well. This is something you will keep seeing in crypto world many many more times in the future. Also welcome to the crypto bandwagon, it is really profitable, hope you have fun.

We all keep asking this same question a lot, what happened to Bitcoin and other cryptocurrencies? Well, these are volatile assets that you are about to invest in, so you should always expect some decrease and increase here and there. It’s not going to be a stable investment, at every second the market is going to get a shake and the price will change even to the least you expected.

Yes sometimes we do see events that take place and trigger all these changes, but it is not all the time that all these things happen, so just take it that there are times it is bound to happen even without any event having to take place. You know the market is based on demand and supply, so that’s also going to play a role on the market price

By knowing that it is not a stable asset, we mentally prepare to be patient and observe movement calmly. what we have to believe is that later the price will exceed the current purchase price, and at that time we can take profit according to the target. therefore we have to hold back to panic sell like most people's mistakes

[rosenbauer02]

As you have seen the drop it also prove that cryptocurrency is not stable so expect any increase or decrease of price. Another cryptocurrency will follow bitcoin either in increasing of value or decreasing. Do more research.

[michellee]

As long as we can follow the price moves and use that for our own benefit, we will have a chance to make a profit. Yes, I agree that doing more research will help us know the situation in the market. We do not have to force ourselves to enter the market, especially if we do not get a good result after analysing the market. That is why taking a break for a while is better than forcing you to enter the market.

If @OP wants to invest in bitcoin, ethereum, bnb, he should wait for the dip and start to buy the coin in any amount but it is preferable to buy at many low prices.

[alpamar99]

Thing is, I'm yet to start my investment (maybe in the next few days). I've just finished a course by Chris Haroun on the subject.
So I've been keeping an eye on the prices of Bitcoin, Ethereum and Binance Coin for the past few days. As you all know, all three coins took a dive yesterday. What I just noticed is that all three fell about the same time (around 4 A.M. yesterday), and recovered also about the same time (24 hs. later, about 4 A.M. today).
Did anything happen, that would cause such a synchronized dip and recovery?

There are rarely any specific cases where bitcoin price drops for one exact reason, and goes back up for a specific reason as well. It is usually something that market does all by itself and then recovers whenever it wants to. This time around it was something in the 24 hour margin and that happens all the time as well, it is not very unique or rare.

You have been checking just 3 coins so you saw that, but if you checked the whole market you would have seen a lot of coins went down at the exact same time and went up together as well. This is something you will keep seeing in crypto world many many more times in the future. Also welcome to the crypto bandwagon, it is really profitable, hope you have fun.

about this I also think the same thing, indeed there must be a point where the price of bitcoin goes down for one good reason, and goes back up for some reason too. but this is very unlikely and indeed rare cases like this.
yep it's like you said
when I first entered the crypto world I was very surprised by that why they went up and down at almost the same time,
but more and more I realized about the system that is here and it's no longer strange now to see things like this.

[BernyJB]

Yeah. It's not like I've got scared, it was a minor dip anyway, I just found it surprising that they all seemed to follow Bitcoin almost to the minute. Now I'm starting to get it. Probably some fair amount of panic selling involved.
Either way, I'm learning a lot, and loving it. Hopefully in the next few days I'll be pulling the trigger.
Good thing is I'm a Linux user, so I don't have to worry (that much) about viruses and whatnot, and a few past experiences have left me very paranoid on the subject. Got a cold(ish) wallet already waiting, all I need is to get some money. 

[RealMalatesta]

I've been keeping an eye on the prices of Bitcoin, Ethereum and Binance Coin for the past few days. As you all know, all three coins took a dive yesterday. What I just noticed is that all three fell about the same time (around 4 A.M. yesterday), and recovered also about the same time (24 hs. later, about 4 A.M. today).
Did anything happen, that would cause such a synchronized dip and recovery?

Because, most investors and traders are dealing with multiple coins at a time for diversification reasons. When you get a negative or positive news and if you are an active trader then what will you do? You may do same type of decision for all your coins, right? Because, your ultimate goal must be making money and the news you got may impact all the cryptos in general (China's recent ban on crytpo activities must be such a common news for all cryptos). So, it is most common like frequently happening that all cryptos are heading in same direction. So, nothing strange on what you have observed.

[batang_bitcoin]

@OP, you'll learn that the market is synchronized with bitcoin and taking it as your first investment is always the best idea ever. Just go along with the market and you'll learn a lot from it and don't stop asking question that confuses you to make you understand more about the market's volatility.
It's just your start upon asking what has happened and there are factors triggering the dips and pumps through good and bad news.

It's not that to ask if you don't understand something like the volatility but to understand what you are investing you should really know what are the pros and cons so that you won't be surprised if something ever happened to your investment. But worry not since this is just the normal movement of the market and if you look at the chart all over the years, Bitcoin isn't really dropping or depreciate but it's appreciating over the years. Although, it just takes time to get to this price, it's just you HODL your Bitcoin for long term investment.

There are investors that don't do research when they invest into the cryptos that they hold. They just buy it whenever they want to upon learning that those cryptos they've bought have been flying high. That's the start of the wrong decision of not learning to understand how the market first before investing. It happens most of the time and they can no longer pull back but upon experiencing the volatility of the market, they're learning it through experience.

[Mahanton]

Hello everybody, first time here.
I wasn't sure where to post this, please feel free to move it if I messed up.

Thing is, I'm yet to start my investment (maybe in the next few days). I've just finished a course by Chris Haroun on the subject.
So I've been keeping an eye on the prices of Bitcoin, Ethereum and Binance Coin for the past few days. As you all know, all three coins took a dive yesterday. What I just noticed is that all three fell about the same time (around 4 A.M. yesterday), and recovered also about the same time (24 hs. later, about 4 A.M. today).
Did anything happen, that would cause such a synchronized dip and recovery?
Thanks in advance. 

Welcome into the world of crypto investment on which everything could really changed in trend in instant which means that price could really move in different manner with having unexpected behavior plus having no definite reason for you to say which would really be giving out that kind of question in mind which you should really be that
being aware on how things do move on this market so that you wont really be shocked whenever you do encounter or experience it.News and events could really be
possibly give out some impact towards market prices thats why you should really be wise and prepared whatever possible actions you would need to make.

[BernyJB]

There are investors that don't do research when they invest into the cryptos that they hold. They just buy it whenever they want to upon learning that those cryptos they've bought have been flying high. That's the start of the wrong decision of not learning to understand how the market first before investing. It happens most of the time and they can no longer pull back but upon experiencing the volatility of the market, they're learning it through experience.

I can personally attest to that. I have seen people actually buying Bitcoin (which is obviously the preferred crypto for many scammers) without even having a clue what a cryptocurrency is. They're told they'd have BIG profits (we're talking 1000's % a day) and they go in blind. Could never understand that specific breed of idiots.

[batang_bitcoin]

There are investors that don't do research when they invest into the cryptos that they hold. They just buy it whenever they want to upon learning that those cryptos they've bought have been flying high. That's the start of the wrong decision of not learning to understand how the market first before investing. It happens most of the time and they can no longer pull back but upon experiencing the volatility of the market, they're learning it through experience.

I can personally attest to that. I have seen people actually buying Bitcoin (which is obviously the preferred crypto for many scammers) without even having a clue what a cryptocurrency is. They're told they'd have BIG profits (we're talking 1000's % a day) and they go in blind. Could never understand that specific breed of idiots.

They've turned into blind when they read those potential profits that they can make. But in reality, they don't need someone to invest for them but only themselves that can buy bitcoin for their own. These scammers never stops to target newbies and those that don't research. So, it's two things, those that do research can avoid scammers and as well as they can know what are the good coins to invest with their hard earned money.

[bitLeap]

Yeah. It's not like I've got scared, it was a minor dip anyway, I just found it surprising that they all seemed to follow Bitcoin almost to the minute. Now I'm starting to get it. Probably some fair amount of panic selling involved.
Either way, I'm learning a lot, and loving it. Hopefully in the next few days I'll be pulling the trigger.
Good thing is I'm a Linux user, so I don't have to worry (that much) about viruses and whatnot, and a few past experiences have left me very paranoid on the subject. Got a cold(ish) wallet already waiting, all I need is to get some money. 

A situation that is natural for you to experience, because that is the most exciting part of crypto trading. You will find many things that are unexpected. Of course you just need to learn to observe the market situation according to his ability. Don't push too hard. little by little later you will understand it gradually without the need to rush. The most important thing is that you learn to control your mentality and not be easily influenced by news that can make your trading mental bad.
Always have trading principles and discipline from an early age. Instill positive thinking that every price movement is relatively up and down. May your trading be profitable.

[magneto]

Welcome to the daily fluctuations of bitcoin price.

If you look on the charts of all major asset classes, including BTC, you'll see these so called "patterns" forming all the time.

They don't mean anything and it doesn't necessarily have to be caused by anything in particular either. Just stay the course. Time in the market > timing the market.

[GeorgeJohn]

If bitcoin falls, like 90% of the time, almost all cryptocurrencies follow. The only ones that don't follow down are the ones who has heavy buyers in the first place.

I even noticed that bitcoin increment in market affects other cryptocurrencies, whenever cryptocurrency especially bitcoin speed up in market price other coins as well follows it's movement, so you are right, the only coin that can withstand bitcoin whenever is going down via market price is a coin that it's demand is of a higher potential at  movement, but if really observe well during the period and btc keep on going down, no matter the status of the demand it will revise and follow the steps of bitcoin decrement. I have noted this experimental analysis of coins joining bitcoin for both increment and decrement for long time period.

[Mauser]

Did anything happen, that would cause such a synchronized dip and recovery?
Thanks in advance.  

Welcome to the forum, always great to see new users. Following bitcoins and other crypto currencies will show you more sich synchronised price changes in the future. Bitcoin is still the largest crypto market and has a large influence on other price. That is why we see such strong correlations between cryptos. So every time bitcoins are falling it is very likely that the alt coin market is going to follow. But the larger the other crypto projects become the more independent they should also become. In my opinion the correlation between crypto coins should be weaker in the future and get more into the direction of stocks. Where there is still general market risk that affects all stocks at once but also individual risk.