Reason for the dump in Bitcoin and most of the Altcoin?

[riskarcher]

I'm just thinking about the worst case scenario in the crypto market, will crypto winter happen again? when we see from history this always happens at the end of the year. I just hope that this year will be very different from 4 years ago with NFT, Metaverse, and Defi being the main factors for crypto to survive. all I can do is wait and see waiting for the right moment to enter the market again because bitcoin and altcoins are still not good performence to pump again

[1714743992]

1714743992

[alpamar99]

because altcoins always refer to bitcoin.
In simple terms, when bitcoin goes up, altcoins will go down first and then go up and when bitcoin goes down, altcoins will also fall at a very deep price
Actually there are several speculations that I heard and read about this decline, one of which is the new variant of covid which is still rampant.
but on the other hand I feel this is the usual correction because bitcoin needs something like this after rising and reaching a new ath

Bitcoin does have to experience a decline like it is now first to be able to reach the next new ATH, because Bitcoin this year has gone up very drastically.
So it is impossible for the price of Bitcoin to continue to rise without a price decline first. So we don't need to panic seeing the current decline in Bitcoin
prices, because this is a normal thing that happens to Bitcoin. Then most of the altcoins are very affected by Bitcoin price movements, so it's no surprise
that the prices of most altcoins are dropping as well right now.

For people who have been in the crypto world for a long time, must be used to the price drops that occur in Bitcoin and altcoins. Because indeed
the occurrence of price drops in Bitcoin and altcoins has happened before, even Bitcoin and altcoins have fallen in price deeper than they are today.
Everything will be fine as long as we hold potential coins, because if we choose the right coins, how far down the price will go up again someday.
So for now there is not much we can do other than be patient waiting for the market to recover again.

as you said, there must be a foothold before we can get to the top and that footing is the correction that is now happening.
Logically, when we go up to a higher place, we must have tools for footing so that we can go further, and the bigger the footing, the higher we climb.
Likewise here, we must have a pretty good footing in this case is a correction like now.
With a foothold like this, it is hoped that bitcoin can climb again quite high

[WatchMaker]

That's another thing for sure, the expenditures that we're having every season is also affecting the market. Like the new years, holidays and other sort of seasons for which people are spending a lot.

If bitcoin goes stable to $50k for a week or two, then this would be turning again another speculation if it will go another low.

We've been through this before, though. Every year someone talks about Chinese New Year or Christmas.

Don't forget, this current bull run started last year around the same time, so if everyone was spending for Thanksgiving and Christmas in 2020, why on earth did Bitcoin go on and rise up so much, right? This time, it's clearly all the bad news from traditional stock markets.

It could also be that the new variant of covid-19 made the market plunge.

But the thing from last year is totally different, we still don't know what's next that shall come to the market.

The variant is 100 percent the reason.

People don't get this.

The reaction to the new variant was not by virtue of Covid, or the new variant, itself. It was a reaction of a reaction. The market essentially predicted that new lockdowns, mandates, and lesser economic activity would formulate as a result of government policy in response to the variant because the track record is indicative of authoritarian top-down control in the name of "safety." Turns out that even in the event of a mild variant, the government became stricter with their controls, and with that comes less economic activity. Markets react to these sorts of things, it's not difficult to recognize the sham after having gone through (3?) variants now.

Yeah, I assume it was.

That was a quick reaction not just in the crypto market but also in the other. You're right that reaction has been made when most of the whales and investors have assumed that there will go another economy downturn for most of the nations due to this new variant.

It's December baby, most bitcoin investors are trying to sell now before the holidays. Normally, during December most of the bitcoin and cryptocurrency investors are cashing out for profits that is what causes the cryptocurrencies price to crash badly. I saw a lot of people complaining about the current market conditions but hey this is normal because it happened before and it is going to happen in the future.   

[yurekaa]

actually, every chart in every trading, will have the 'dump' and 'pump' schemes,
its mean when the chart is too high up, it will down for a while ( this name is correction ) the mean of correction are, the trend will find the good position to go up / go down. so in this case we have the resistance line and support line, when one of the line reached, it will make the another line. it will happen forever.
this thing is technical analysis, so if you want to read the chart, i suggest you to learn about technical analysis

[Anonylz]

People ask the reason for the pump when the price is up, they will also ask the reason for the dump when the price is down, these questions will always come up regardless of what market condition we are in, after so much pump this year, isn't it normal if the price will correct down a bit, it was already expected
and since most of us are already familiar with the system it shouldn't come as a surprise.

[deadmousehat]

I think this is just a normal correction and many people panic sell or just take profit because December is the time to go on vacation. I'm just thinking positively about the causes that made the bitcoin price go down and is the right time for me to buy more.

[Ozero]

It is worth understanding that the exact reason is generally unlikely to say. Do not forget that less than a month ago, Bitcoin predicted growth to 100 thousand.

Yes, when the price of bitcoin was growing and was stable at more than $ 60,000, almost everyone predicted its price by the end of the year at about one hundred thousand dollars. Now the price of bitcoin has fallen to $ 46,819, and the fall has already been slightly delayed in time, and therefore they simply prefer not to remember the optimistic forecasts and it is logical that the question arises of how long this will continue and whether the current fall will not be even deeper. The end of the year and the beginning of the next year were almost always a period of price volatility, but rarely when during this period the cryptocurrency has already grown. Therefore, in all likelihood, we will have to wait for a good price growth, probably, for several months.

[AmoreJaz]

It is worth understanding that the exact reason is generally unlikely to say. Do not forget that less than a month ago, Bitcoin predicted growth to 100 thousand.

Yes, when the price of bitcoin was growing and was stable at more than $ 60,000, almost everyone predicted its price by the end of the year at about one hundred thousand dollars. Now the price of bitcoin has fallen to $ 46,819, and the fall has already been slightly delayed in time, and therefore they simply prefer not to remember the optimistic forecasts and it is logical that the question arises of how long this will continue and whether the current fall will not be even deeper. The end of the year and the beginning of the next year were almost always a period of price volatility, but rarely when during this period the cryptocurrency has already grown. Therefore, in all likelihood, we will have to wait for a good price growth, probably, for several months.

once we start seeing the btc price in increasing trend again, people will be optimistic again. this is just a cycle. there are various factors that contribute what is happening in the market, and identifying may not be worth your time. just keep up with the news and strategise on how to accumulate more worthwhile projects while the market is down. because once it is recovering, you may regret that you haven't gotten a hold of promising coins.

[South Park]

I'm just thinking about the worst case scenario in the crypto market, will crypto winter happen again? when we see from history this always happens at the end of the year. I just hope that this year will be very different from 4 years ago with NFT, Metaverse, and Defi being the main factors for crypto to survive. all I can do is wait and see waiting for the right moment to enter the market again because bitcoin and altcoins are still not good performence to pump again

I think the biggest factor that could delay or even prevent another crypto winter are institutional investors, back then we went through a massive bubble but once the market began going down no one was willing to risk buying when the price was crashing and this made the drop even larger, but now we have institutional investors that are willing to buy the dip and reduce the average cost of their coins, so in the case we see another crash I do not think it will be as bad or as long as the crypto winter that followed after the bubble of 2017.

[barabarian1]

the end of the year, many people expect with big explosion, to gain massive profit. pump and dump will be common thing in crypto, not only end of year, also the other news from some country.
this is common thing, you need to trading or collect it as much as you can. and this one will determine who get the big value.
and holding is good for people who wont think about complicated thing.

[lepbagong]

the end of the year, many people expect with big explosion, to gain massive profit. pump and dump will be common thing in crypto, not only end of year, also the other news from some country.
this is common thing, you need to trading or collect it as much as you can. and this one will determine who get the big value.
and holding is good for people who wont think about complicated thing.

it's just a matter of how to prepare yourself for the situation that occurs at the end of the year, whether you have predicted correctly and prepared the available funds, because that opportunity is always well open and may not be possible at other times. Opportunities can sometimes be missed because we ourselves do not prepare well even though the opportunity is real and is in front of our eyes, we just need to carry out executions as well as possible.

[btc78]

the end of the year, many people expect with big explosion, to gain massive profit. pump and dump will be common thing in crypto, not only end of year, also the other news from some country.
this is common thing, you need to trading or collect it as much as you can. and this one will determine who get the big value.
and holding is good for people who wont think about complicated thing.

it's just a matter of how to prepare yourself for the situation that occurs at the end of the year, whether you have predicted correctly and prepared the available funds, because that opportunity is always well open and may not be possible at other times. Opportunities can sometimes be missed because we ourselves do not prepare well even though the opportunity is real and is in front of our eyes, we just need to carry out executions as well as possible.

It is the greedy attitude that mostly cause the losses, because many of those who entered this market are just here for quick income i mean profiting multiple times and that is their goal so what happen in time is that they get nothing instead beyond their expectation are failure.

It is worth understanding that the exact reason is generally unlikely to say. Do not forget that less than a month ago, Bitcoin predicted growth to 100 thousand.

If you believe that bitcoin will reach 100k this year then you are one of those who are failed now? you are one of those who are trapped in this bear season lol

[JohnBitCo]

It is worth understanding that the exact reason is generally unlikely to say. Do not forget that less than a month ago, Bitcoin predicted growth to 100 thousand.

Bitcoin is still likely to go 100 thousand dollars or even beyond but it may not happen in this year. Who knows that 2022, might be the year when we may see bitcoin over a 100 thousand dollar.
Weaker hands will cash out at current prices but only the holders will benefit from higher bitcoin prices.

[ancafe]

the end of the year, many people expect with big explosion, to gain massive profit. pump and dump will be common thing in crypto, not only end of year, also the other news from some country.
this is common thing, you need to trading or collect it as much as you can. and this one will determine who get the big value.
and holding is good for people who wont think about complicated thing.

Well, actually I also expect a high price increase by the end of this year. however, I'm not that surprised to see the current price dump, as I feel this is the norm at the end of the year. well, people need money for christmas and new year, i think people will sell some of their assets for that purpose. In addition, if you look at it from year to year, December sometimes shows a decline in crypto prices.
it's just, I think that the current price and situation is still much better than in previous years. well, for now, I expect the price of bitcoin and other altcoins to recover in early 2022.

[Finestream]

the end of the year, many people expect with big explosion, to gain massive profit. pump and dump will be common thing in crypto, not only end of year, also the other news from some country.
this is common thing, you need to trading or collect it as much as you can. and this one will determine who get the big value.
and holding is good for people who wont think about complicated thing.

Well, actually I also expect a high price increase by the end of this year. however, I'm not that surprised to see the current price dump, as I feel this is the norm at the end of the year. well, people need money for christmas and new year, i think people will sell some of their assets for that purpose. In addition, if you look at it from year to year, December sometimes shows a decline in crypto prices.
it's just, I think that the current price and situation is still much better than in previous years. well, for now, I expect the price of bitcoin and other altcoins to recover in early 2022.

What we have at the present is definitely far better than those previous years as bitcoin which has a current price of $48,464 is still considered higher compared to last year. But the current price decline is also a good thing to consider because it will push bitcoin and for some major altcoins to reach a higher ATH but things have become so hard for newly investors that they start doubting bitcoin if it will recover again. Although for us who have been here for long, what is happening is a natural scenario but for newcomers, they are mostly threatened with the current market condition.

[slaman29]

Trying to relax? Haha, if a 15% drop still needs you to try, when you've lived through worst before, then maybe you really have to reconsider crypto because this is, I repeat, this is very normal.

And you should expect it to get even worse than this because this recovery will fool a lot more people into thinking this is the worst it can get, but no sir, it can get a lot more worse before it gets better!

Actually I feel this is a reflection of myself because basically the concept I apply in trading is wrong and puts too much emphasis on ego and greed. and maybe when the downturn occurs maybe a little panic is certainly a normal course of action as you say, but basically if you look further there is no reason to panic when you have to sell assets.
this is a stupid act, it's a loss why sell it because there will definitely be another increase if you really believe and are sure that the fundamentals are good.
relax maybe it will make me forget for a moment my greed and ego

Yes my friend, I think you really need to stop what you're doing and examine yourself carefully.

1. Trading that puts any emphasis at all on ego and greed is wrong. Trading must be as emotionless as possible, which is why you use stops and limits at all times
2. Panic is normal, but as point above says, make sure you only use limits and stops, and don't watch your trading, check in later to see.
3. Invest money you can afford to lose, this helps reduce panic.

And back up to my earlier point, don't trade. Invest and hodl. Life is sweeter this way.

[IamWealth]

It might probably be the market correcting and also if it’s about the new COVID variant, then the drop is only temporary. The market is actually not so predictable right now. Opportunity for certain people to join the train at discount price🙃

[Ararbermas]

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

probably most gainers wants to keep their profits for good i mean for xmas as well reasons market suddenly turn into bearish.. Its very skeptical indeed wherein to let your money floating especially on this month wherein you know that most people need money. Lol maybe month of January there will be a changes again as it's the right time again to make investment for long run. A new beginning! 

[AicecreaME]

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

I think this is just the usual December pullback trend plus other factors such as fear of the new covid-19 variant which is omicron, government regulations and concerns, market correction, and whales making various movement that causes downtrend. So just the same usual reasons + the pandemic threat which explains the red color in the market for the past few days already. I think this is just temporary and sooner, bitcoin together with other coins will eventually bounce back. Hopefully, the market will recover in the early quarter of 2022 for those people who wanted to withdraw some funds. Because right now, it isn't really ideal to sell because price positions are low. Although I must say it is very ideal to buy and go shopping right now because everything is on "sale". This is a great opportunity to buy the dip on those reputable coins. If you plan to stay for the long term, you should not worry so much because bitcoin will regain its price position in no time. You just have to have patience to wait. Crypto isn't for the faint-hearted people. Buy the fear, sell the greed.

[rozak]

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

probably most gainers wants to keep their profits for good i mean for xmas as well reasons market suddenly turn into bearish.. Its very skeptical indeed wherein to let your money floating especially on this month wherein you know that most people need money. Lol maybe month of January there will be a changes again as it's the right time again to make investment for long run. A new beginning! 

withdrawing their money for vacation purposes for example (because of the end of the year), I don't think it is very good for long-time holders in the crypto market.
indeed we can see this market cycle with some past market trends. but it is not a reference in my opinion.
Usually, those who carry out such asset management strategies are day traders and medium-term investors. as for the long-term holders, I believe they still hold their bitcoins along with several other assets.